BHEL secures Rs 450 crore order for steam and power plant from NALCO

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State-run engineering firm BHEL said it has bagged an order worth Rs 450 crore for a steam and power plant from National Aluminium Corporation Limited (NALCO). The Rs 450 crore order has been placed on BHEL by NALCO for its 5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha, Bharat Heavy Electricals Limited (BHEL) said in a statement. BHEL’s […]

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COMMENT – Crystal gazing at 2021 commodities cycle – only bet is on the pace of coronavirus recovery

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The spread of the Covid-19 pandemic led to lockdowns and economic devastation across the world. The story for commodities was far more nuanced, reflecting that the pandemic was not your run-of-the-mill global recession. The story for 2021 is likely to be dominated by the recovery from the coronavirus, especially since it now seems likely that […]

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Weakening dollar props up base metals rally

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The stimulus packages being announced across the globe amid the Covid-19 pandemic, are benefitting base metals Copper, zinc and nickel have been rallying for the last 8 months as a broad-based weakening of the dollar made commodities cheaper for holders of other currencies. Besides, supply constraints from the pandemic-hit Latin American nations provided support to the metals, said brokerages. […]

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Non-ferrous metals’ consumption to dip 3-8% in 2020 due to Covid-19: ICRA

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Consumption of non-ferrous metals like copper and aluminium would contract significantly this year due to the COVID-19 pandemic, rating agency ICRA said on Thursday. The pandemic has severely impacted the global automobile, construction and electrical machinery industries, which together contributes 75-85 per cent to the global non-ferrous metal demand, ICRA said in a statement. “Consequently, ICRA expects that in the current calendar year, […]

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