India refrains from imposing anti-dumping duty on certain steel products from China and other countries

India’s government has decided not to impose anti-dumping duty on certain steel products being imported from countries like China, Japan, and Korea, as the finance ministry has not accepted the recommendations of the directorate general of trade remedies (DGTR). The commerce ministry’s investigation arm DGTR had conducted a probe against imports of ‘Cold Rolled/cold reduced […]

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High power costs in Europe shoots up aluminium’s price to record high

Costs of aluminium for European consumers are scaling record highs due to soaring energy costs and production cuts, which have exacerbated deficits of the metal used in the power, construction and packaging industries. Consumers buying aluminium on the physical market usually pay the benchmark price on the London Metal Exchange — around $ 2,950 a […]

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Iraq’s INOC to acquire ExxonMobil’s stake in Iraqi oil field; China delighted

The newly resurrected Iraqi National Oil Company (INOC) has been given government approval to acquire ExxonMobil’s 32.7 percent stake in the supergiant West Qurna 1 oil field for up to $350 million. West Qurna 1, located around 65 kilometres from southern Iraq’s principal oil and export hub of Basra, holds a considerable portion of the […]

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China warns its mining companies to get permits before ‘blindly’ visiting Afghanistan for minerals

China’s embassy in Afghanistan warned its companies and citizens not to “blindly” visit the country to inspect mineral resources, after reports of foreigners being detained without exploration permits. Afghanistan’s Ministry of Mines and Petroleum has “extremely strict” standards for issuing permits for prospecting for minerals, the embassy said, adding that companies and individuals that do […]

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