Iron ore price topped $200 a tonne, a record high this week. Iron ore prices have reached an all-time high, with China’s domestic steel product prices also soaring to record highs. The uptrend in steel prices is likely to continue if relationship troubles between China and Australia linger and if China’s plans to cut steel production […]
While most industrial metals are glowing hot in a post-pandemic manufacturing recovery and an emerging commodities supercycle, lead and zinc have remained subdued. Copper has hit all-time highs above $10,000 per tonne, with London Metal Exchange (LME) three-month metal futures trading above $10,350 a tonne. Tin has hit a 10-year high and aluminum is charging up towards […]
Record global cotton supply will drive use higher as recovery from the COVID-19 pandemic continues, according to the first forecast for 2021/22 by the U.S. Department of Agriculture (USDA). The USDA said in its latest World Agriculture Supply and Demand Estimate (WASDE) report that global consumption is expected to grow 3.5 percent to almost 122 […]
Renewable sources of electricity such as wind and solar grew at their fastest rate in two decades in 2020 and are set to expand in coming years at a much faster pace than prior to the pandemic, according to a new report by the International Energy Agency (IEA). The growth in Europe and the United […]
Steel mills in India have raised prices by up to Rs 4,500 per tonne from the beginning of the month taking the benchmark hot rolled coil (HRC) price in the Mumbai market to a record high of nearly Rs 68,000 per tonne. Despite low domestic demand primarily due to lockdown and restrictions on mobility, the […]
The government has extended anti-dumping duty on certain types of seamless tubes, and pipes till October 31 this year with a view to guarding domestic manufacturers from cheap Chinese imports. The duty on ‘seamless tubes, pipes and hollow profiles of iron, alloy or non-alloy steel (other than cast iron and stainless steel), whether hot finished […]
India’s Union ministry of new and renewable energy (MNRE) has said that solar units availing benefits under the modified special incentive package scheme (M-SIPS) programme of electronics ministry will not be eligible for the Rs 4,500-crore production-linked incentive (PLI) scheme for solar module manufacturing. The MNRE released broad guidelines on how PLI scheme can be […]
Global soybean production and trade in 2021-22 (October-September) are seen at a record high because of rising demand for the oilseed, the International Grains Council said in a report. This is likely to lead to a spurt in international soybean prices. Global soybean prices have been rising since mid-2020 on robust demand from China, coupled […]
Improved sentiment, as inflation concerns grew, interest rates fell and the US dollar weakened, helped lift gold in April, but rising Covid-19 cases in India could weigh on consumer demand going forward though investment will be supported, the World Gold Council (WGC) said in its monthly report. “Rising inflation expectations and questions around central bank tapering […]
Global coffee prices continued their upward trend in April, as the monthly average of the ICO composite indicator rose to 122.03 US cents/lb, 1.4% higher than in March 2021 and 12% higher than in April 2020, representing the sixth consecutive month of increase and the highest monthly average in over three and a half years, […]
