Gold demand to slow down temporarily: WGC

Demand for gold in India is likely to slow down in the second quarter (April-June) due to COVID-related restrictions, before rebounding in the second half of 2021, according to the World Gold Council (WGC). Gold investment demand has already fallen in the first quarter of this calendar year (Jan-March) on hefty outflows in gold-backed exchange-traded […]

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Copper climbs to highest in 10 years as global recovery gains ground; other metals also gain

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Copper climbed to the highest in almost a decade as the global recovery from the pandemic extended a rally in metals markets. Aluminum is surging and iron ore jumped to a fresh high as commodities advance toward the highs of the last supercycle. Metals are benefiting as the world’s largest economies announce stimulus programs and climate pledges […]

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Steel supply curbs in China proving to be a boon for Indian steel makers

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China, the largest consumer of steel, is facing supply curbs which bode well for steel demand and prices globally. Limited exports out of China, as Beijing targets zero emissions over time, will lower the risks of cheap steel imports into India and will likely boost capacity utilisations across domestic steel manufacturers. For domestic steel manufacturers […]

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HSBC successfully executes steel industry’s first blockchain trade finance deal between UAE and India

HSBC has successfully executed a blockchain-enabled, live trade finance transaction between the UAE’s Universal Tubes & Plastic Industries Ltd. and India’s Tata Steel Ltd. – a global first for the steel industry. The Contour blockchain platform enabled end-to-end digitisation of the documentation required for Universal Tubes to import its order of flat carbon steel to […]

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APAC growth outlooks diverge amid recovery from pandemic shock, says Fitch

APAC economies are recovering from the initial shock of the Covid-19 pandemic, but intra-regional disparities in the magnitude of the shock and durability of growth outlooks are increasingly evident, says Fitch Ratings. “We expect APAC economic growth to rebound to 7.2% in 2021 after last year’s contraction of 0.9%, underpinned by continued momentum in China […]

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