The country’s largest iron ore miner NMDC has slashed prices of lump ore and fines by Rs 50 per tonne. NMDC has reduced the price of lumps or high grade iron ore by Rs 50 to Rs 3,150 per tonne, the company informed the BSE on Monday. The price of iron ore fines, which are […]
High volatility in gold prices have dealt a double blow to jewellers as consumers are staying away from visiting shops because of the coronavirus spread. This has reduced discretionary spending as it rendered jewellery sales to almost a standstill. Also, advance tax payment has put them under pressure, reports Business Standard. Prices continued to fall almost the entire last […]
Gold prices fell further last week and were on track to post their biggest weekly drop in nearly seven years, as a rout in global equities forced investors to cover margin calls. Spot gold was down 0.9 per cent to $1,562.30 an ounce on Friday. For the week, it was down about 6.7 per cent, […]
Coal production from captive mines in India during the first eleven months of the ongoing fiscal have increased by 18.8 per cent year-on-year (y-o-y) to 51.7 million tonness (MT) from the corresponding period in FY19. However, about 53 per cent of the output came from coal blocks which were not cancelled by the Supreme Court […]
Iron ore and finished fertilizers shipments have enabled major ports to tide over falling volumes in coal and other miscellaneous cargo. Iron ore shipped through major ports soared 39 per cent between April and January of this financial year. Growth in the finished fertilizers cargo too was robust at 21.55 per cent. Thermal or steam cargo shipments plunged 14.98 per cent […]
Copper and iron ore prices have held up surprisingly well as markets in the West belatedly come to grips with the coronavirus pandemic and China shifts focus from containment to rebuilding its economy following more than two months of inactivity. PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on […]
Iraq has closed five land borders with Iran, Iran’s news agency reported. However, the Islamic Republic of Iran Customs Administration (IRICA) announced that this is a temporary closure to prevent the spread of coronavirus and that all of the borders will be reopened on March 15. Exports to Iraq’s autonomous region of Kurdistan still continue, […]
The dull steel industry and its sagging recovery has resulted in NMDC Ltd. selling 11 per cent less iron ore in the first two months of 2020. Shares of NMDC Ltd have fallen about one-third from their highs in January. An inventory pile-up has curtailed demand for iron ore. Besides, the coronavirus epidemic has shrunk […]
Base metals’ prices jumped by 1-2 per cent on Wednesday after the United States Federal Reserve (US Fed) announced a 50 basis points (bps) emergency interest rate cut. The Fed also confirmed high downside risk for the global economy as a result of increasing number of coronavirus (COVID-19) cases across the world. Gold and silver price increased […]
Asia’s seaborne coal markets stumbled in February 2020, Reuters reports. In addition to the coronavirus outbreak in China, the weakness in coal concentrated in other major importers of the polluting fuel. South Korea’s imports of both thermal and coking coal were particularly hard hit, dropping to 6.9 million tonnes in February from 11.4 million tonnes […]
