ASEAN steel industry coping well despite COVID-19; post-pandemic future not as bleak as expected

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(The story appears here courtesy our content partner Mysteel Global) The COVID-19 pandemic has imposed a devastating impact worldwide including the ASEAN region, but with the prompt and effective coping measures, the prognosis for the steel industry in the region in the post-pandemic era might not be as bleak as expected, Yeoh Wee Jin, secretary general […]

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Worldsteel predicts lower productivity and an extended production cycle for different geographies

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As most countries have been gradually reopening from their lockdowns since mid-May, recovery of economic activities is expected in the third quarter, claims the recently released Short Range Outlook (SRO) report for 2020 and 2021 by Wordsteel. Even though all steel-using sectors are affected by the lockdown measures, the mechanical machinery and automotive sectors are […]

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India says big no to RCEP as market access and tariff concerns not answered

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India has decided to not join the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal on grounds that its key concerns over the agreement have not been addressed.  Prime Minister Narendra Modi said in Bangkok that the current form of the RCEP Agreement “does not fully reflect the basic spirit and the agreed guiding principles” […]

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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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India’s copper exports plunge 69% in FY19 on Sterlite unit closure: EEPC

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Cumulatively for FY19, the export of the metal and its products dropped by whopping 69.4% to $1.065 billion, against the previous fiscal due to the shutdown of Sterlite Copper smelter plant at Tuticorin in Tamil Nadu, said Engineering Export Promotion Council (EEPC). The export of copper and copper products in March 2019 declined sharply by […]

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RCEP deal may hurt India’s export competitiveness: Trade Promotion Council

The proposed Regional Comprehensive Economic Partnership (RCEP) agreement may hurt India’s export competitiveness as the trade balance is already skewed, Trade Promotion Council of India (TPCI) said. TPCI said that the proposed RCEP, which is a mega free trade agreement, could lead to flooding of goods in the Indian market from the member countries; and […]

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Southeast Asia’s energy demands will require $2.7 trillion investment: IEA

As Southeast Asia continues to urbanize at a breakneck speed, the developing region is projected to see a massive growth in energy demand over the next 20 years. Expected to increase by a whopping two thirds by the year 2040, Southeast Asia’s energy demand will require enormous investment and infrastructure in the energy generation and transmission […]

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Growth Holding Up in Asia and the Pacific, Trade Tensions Pose Risks – ADB

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Growth remains stable across most of developing Asia due to robust domestic demand, buoyant oil and gas prices, and a consolidation of India’s growth rebound, but escalating trade tensions will test the region’s resilience, a new Asian Development Bank (ADB) report said. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2018, ADB maintained […]

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