EIA forecasts lower crude oil prices despite tighter global liquid fuels balances

The U.S. Energy Information Administration (EIA) forecasts lower crude oil prices in the fourth quarter of 2019 and in 2020 despite tighter global balances. The tighter balances are largely the result of unprecedented short-lived loss of global supply following the September 14 attacks on crude oil production and processing infrastructure in Saudi Arabia, EIA said […]

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UPASI, apex body of planters complains about proposed RCEP

The proposed Regional Comprehensive Economic Partnership (RCEP) will harm and worsen the trade deficit in the plantation commodities and make things miserable for the sector, which is already facing challenging times on account of low prices and high cost of production, says a study by the United Planters’ Association of Southern India (UPASI) , an […]

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Indian gold imports hit three-year low in September 2019, as prices jump

India’s gold imports plunged 68 per cent year on year in September to their lowest in more than three years as record domestic gold prices curbed retail buying, reported Reuters last week. Lower imports by the world’s second biggest consumer could cap gains in global prices that are trading near their highest level in over six years, […]

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Zinc attempts to find new usages in solar and fertilizer industries

Amid the economic slowdown, where construction as well as auto sales have taken a hit, zinc metal, which finds strong application in both these sectors is looking at newer domestic consumption segments to grow. “Solar panels, power storage batteries and fertilizers are the three new areas where zinc market has ample scope to grow in India. There is more […]

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US steps up efforts to limit China’s control of critical minerals

The US government is stepping up efforts to break China’s dominance over supplies of critical minerals for a range of modern life’s aspects, including electric vehicles (EVs), green technologies and military applications by launching a plan to boost lithium, cobalt and rare earths mining across the globe. The Energy Resource Governance Initiative (ERGI) initiative, announced in […]

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Government of India stops import incentives for exporters of gold medallions and coins

The government has withdrawn incentives being given to exporters of gold medallions and coins for import of raw material, according to a notice by the commerce ministry. “Advance Authorisation shall not be issued where items of export are gold medallions and coins or any jewellery/articles manufactured by fully mechanised process,” the Directorate General of Foreign […]

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Indian steel mills hope to invest in upcoming Saudi Arabian steel, iron ore projects

Indian steel manufacturers plan to strengthen their relationship with the Middle East market, especially Saudi Arabia, according to remarks made during the second day of the First International Saudi Iron and Steel Conference last week, reports S&P Global Platts. V.R. Sharma, managing director of India’s Jindal Steel and Power, said, “The industry will definitely grow […]

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