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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Aluminium exports from India to be hit hard if online system for tax incentives are blocked: AAI

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Blocking of the online system for exporters to apply for tax incentives under the export incentive scheme MEIS has created an “extremely precarious situation” for aluminium exports, the Aluminium Association of India (AAI) said. The move will further render exports vulnerable and uncompetitive, the industry body added. India’s commerce ministry has blocked the online system […]

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China still scorns ‘waste’ imports, but market sees shift

(This story appears here courtesy our content partner MySteel Global) China will comprehensively ban the import of all solid waste including metal scrap by 2021, as planned, and will no longer support systems to permit the import of such material, the Ministry of Ecology and Environment (MEE) reiterated this week. Nonetheless, the country’s steel scrap […]

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The world in a state of flux; IMF warns of “Clouds on the Horizon”

The International Monetary Fund (IMF) revised down its forecast for the Asian economy amid the mounting COVID-19 fallout, projecting a 1.6 per cent contraction in 2020, and warning of “clouds on the horizon.” The latest projection is a downgrade to the forecast of zero growth in the April World Economic Outlook (WEO), indicating stronger global […]

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