Tomato prices in retail markets of metro cities have shot up to Rs 72 per kilogram on tight supply due to unseasonal rains in key producing states like Madhya Pradesh and Maharashtra. Among the metros, the maximum increase in the retail price of tomato was seen in Kolkata where the key kitchen vegetable was ruling […]
International Energy Agency (IEA) has invited India, the world’s third-largest energy consumer, to become its full-time member, India’s oil Minister Hardeep Singh Puri said after online discussions with IEA Executive Director Fatih Birol. If India accepts the invitation, New Delhi will be required to raise its strategic oil reserves to 90 days stock. India’s current […]
Mukesh Ambani-controlled Reliance New Energy Solar, a wholly owned subsidiary of Reliance Industries (RIL), has acquired REC Solar Holdings (REC Group) from China National Bluestar (Group) Co. An RIL statement said the transaction is for an enterprise value of $771 million. This is the first major renewable energy deal, where an equipment manufacturing facility has been acquired. Hours after picking up […]
Indian cement makers and sponge iron plants are buying high quality thermal coal to bridge domestic shortfalls. Coal is being bought at a $12 to $15 a tonne discount to fresh shipments from Australia. Currently, the price is among the cheapest thermal coal of its quality available in the market. The discord between China, the […]
China’s Shenzhen Chengxin Lithium Group Co Ltd and an affiliate of steel and nickel giant Tsingshan Holding Group will invest in a $350 million Indonesian lithium project to capture demand from the electric vehicle (EV) battery sector, Reuters reported. Tsingshan, which shook up the global nickel market by rapidly increasing production at low cost in […]
The world’s most traded commodity got a major boost from the gas crunch in Europe and Asia, prompting forecasters to update their forecasts. One of the most bullish of all observers has been Goldman Sachs, whose commodity analysts have stuck to their price target of $80 for Brent crude regardless of the resurgence of Covid-19 in many key […]
Tightening coal supplies, toughening emissions standards have forced some provinces in China to ration coal-fired power production. According to Reuters, output curbs have hit steel, aluminum and cement industries particularly hard. About 7% of aluminum production capacity has been suspended. It is believed some 2.33 million tonnes per year of aluminium smelter capacity has been […]
Just ahead of the winter season, Europe’s natural gas crunch has created a snowball effect in global energy markets. What started as very low gas inventories in Europe during the summer is now spilling over into oil, natural gas, and coal prices all over the world, with no quick fix or signs of a major […]
A “Power Supply Shock Looms” as the energy crisis gripping Europe – and especially the UK – has hit China. Residents in three north-east Chinese provinces experienced unannounced power cuts as the electricity shortage which initially hit factories spread to homes. People living in Liaoning, Jilin and Heilongjiang provinces complained on social media about the […]
India’s big business corporate houses like Reliance, Adani, Tata, and Jindal are some of the 18 companies that have applied for the government’s Rs 4,500 crore production-linked incentive (PLI) scheme. They expect to start or increase their manufacturing capacity with the help of these funds. State-owned giant, Coal India Limited (CIL), which is also trying […]
