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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Chinese aluminum flat rolled products being probed by EU for dumping

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The European Commission (EC) has launched an antidumping investigation into aluminum flat-rolled products originating from China, it said. The decision comes in response to a complaint lodged on June 30 by industry group European Aluminium on behalf of producers representing more than 25% of the total EU production of flat-rolled products. The EC said sufficient […]

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Focus on exports helps Vedanta Aluminium cushion Q1 lockdown shock; expects business climate to improve in H2

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Vedanta Aluminium managed to sustain its production levels in the first quarter of this fiscal despite a national lockdown triggered by fears over the spread of the deadly Covid-19 virus, its Chief Executive Officer Ajay Kapur said. He told indoasiancommodities.com in an interview that Vedanta Group’s aluminium business was agile enough to successfully weather a particularly troublesome […]

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Frosty India-China trade ties could be another Himalayan blunder

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India and China have been uneasy neighbours for decades, but they still managed to grow bilateral trade. However, a recent border clash over the Himalayas are turning ties increasingly cold as New Delhi takes steps to hit Beijing where it hurts most — business. After India delayed customs clearances of goods imported from China, the […]

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Weekly Wrap – Monsoon and gold keep commodities sentiments bullish

In March this year, the world entered the COVID-19 pandemic with persistent, pre-existing external imbalances. The crisis has caused a sharp reduction in trade and significant movements in exchange rates, but limited reduction in global current account deficits and surpluses. The outlook remains highly uncertain as the risks of new waves of the contagion, capital […]

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