Steel prices in the country could be in for some upward movement after iron ore prices in the global market have surged to near 10-year highs. Mining.com website said that benchmark 62 per cent iron ore fines shipped into Northern China were traded at $175.05 a tonne cost and freight on last week. The rates […]
The recent record-high LNG spot prices in Asia highlighted the more stable prices of the gas for LNG buyers in long-term supply contracts compared to the much higher volatility in spot prices, says oilprice.com. However, long-term supply is indexed to the inherently volatile oil prices. Global natural gas demand is set to return to pre-crisis levels as […]
The closure of Sterlite Copper’s Tuticorin plant, which once accounted for nearly 40% of India’s copper output, had been forced by vested interests that did not want the country to become self-sufficient in the critical industrial metal, the company’s chief executive officer said in an interview. The plant was shut down in 2018 following a police firing that […]
China is looking into curbing the exports of rare earth minerals that are crucial to US defense contractors such as Lockheed Martin for the manufacture of sophisticated weaponry and F-35 fighter jets, the Financial Times reported. Industry executives said government officials had asked them how badly companies in the US and Europe would be affected if […]
Myanmar’s military coup and declaration of a state of emergency has sparked concern in neighbouring China over metal and mineral supplies amid already high tin, copper and rare earth prices. China, the world’s top metals consumer, imports a lot of metals and minerals from Myanmar. Top of Form Tin Myanmar is the world’s third-biggest miner […]
London copper prices are hovering around an eight-year high as a weaker dollar lent support, but trading was thin due to the Lunar New Year holiday in China. The three-month copper contract on the London Metal Exchange dipped 0.1 per cent to $ 8,289 a tonne, rebounding from a 0.7 per cent fall earlier in […]
The Coalition of American Metal Manufacturers and Users (CAMMU) sent a letter to President Joe Biden requesting the immediate termination of the Section 232 tariffs on steel and aluminum, stating that the tariffs imposed under former President Donald Trump have damaged metals consuming industries. The group said it was pleased to see Biden’s executive order […]
Despite the 2021-22 Union budget failing to mention any import restrictions on solar cells and modules to boost domestic manufacturers, the ministry of new and renewable energy (MNRE) has not ruled out the imposition of basic customs duty (BCD) on such items. Addressing the media about the implications of the budget on the renewable sector, […]
Indonesia will no longer permit mining waste to be disposed in the ocean to allay concerns about the environmental impact of processing nickel used in electric vehicle (EV) batteries, a government official and a corporate mining source said. The Southeast Asian nation, the world’s biggest nickel producer, has not officially banned so-called deep sea tailings […]
In the third part of his interview with indoasiancommodities.com Ed Moy, former director of the US Mint and currently the chief strategist for US fractional gold retailer Valaurum, tells Biman Mukherji how he believes that China’s economy may not have picked up as much as being projected because that is not yet reflected in gold consumption. […]
