International Grains Council cuts its forecast for 2020/21 global grains production


The International Grains Council (IGC) cut its forecast for a record global grains production by 9 million tonnes to 2.21 billion tonnes in 2020/21. The council also trimmed its projection for consumption during the season. In its monthly update, the inter-governmental body cut its forecast for corn (maize) by 13 million tonnes, partially offset by […]

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Renovation work at Dutch Central Bank offices leads to shift of billions of dollars worth of gold bars and coins


Along with the bullion worth 10 billion euros ($ 11.7 billion), the Dutch Central Bank also shifted bills worth another 4.5 billion euros ($ 5.3 billion) in an operation that was led by the Royal Dutch Military Police. A report by the Associated Press called it the “gold standard of road trips.”  The cash and […]

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Mining deals across the world slump by over $ 18 billion in value due to pandemic: GlobalData


Global mining deal value, suffering from an unanticipated shock from the covid-19 pandemic, fell by over $18 billion when compared to the first half of 2019 to $46.6 billion in the first half of 2020, GlobalData reports. The global economic slump, steered by a series of challenges, has kept investors away from long-term financial instruments, […]

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Philippines to dethrone Indonesia as largest global nickel ore producer

Global nickel production will drop significantly over 2020 as major producer Indonesia’s nickel ore export ban comes into effect, Fitch analysts assert in a recent report. This drop will be slightly offset by the impact of rising production growth in the Philippines where some currently suspended mines will become operational again, while the country aims to plug […]

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February 2020 crude steel production showed a 2.8 per cent increase over February 2019: Worldsteel

World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes in February 2020, a 2.8 per cent increase compared to February 2019. China’s crude steel production for February 2020 was 74.8 million tonnes, an increase of 5.0 per cent compared to February 2019*. India produced 9.6 million […]

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Govt planning to launch National Mission on Edible Oil in the near future

It is being believed that the Budget for 2020-21 may allocate funds for a national Mission on Edible Oil.  As edible oil is being imported more and more, India needs to address improving domestic availability. Two thirds of the country’s domestic edible oil demand is being met by imports. “The government is seriously concerned about […]

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The oil surplus is going to continue in 2020; average price may rule at $65 a barrel: IEA


Global oil markets will remain well supplied this year, with a possible overhang of some 1 million bpd, the head of the International Energy Agency, Fatih Bitol, told Reuters. “Non-OPEC production is very strong. We still expect production coming from, not just United States, but also Norway, Canada, Guyana, among other countries,” Birol said, adding “Therefore, I […]

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Rio Tinto’s ‘green’ aluminium on track for 2024 after sale to Apple

Australian mining giant Rio Tinto and its joint venture partner Alcoa are quietly confident a new green aluminium product made using “breakthrough” technology is on track to be commercially available by 2024, reports The two companies’ Montreal-based joint venture, Elysis, sold the world’s first batch of the aluminium, which uses technology that removes carbon […]

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