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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India’s mining industry urges government to remove fetters on bauxite

India’s mining industry has urged the government to re-examine an export duty of 15% imposed on bauxite that has sharply cut down shipments as well as policy measures to facilitate production of the aluminium-making material. R.L. Mohanty, vice president of Federation of Indian Mineral Industries told a conference titled “Leveraging Indian Bauxite and Aluminum Industry for […]

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