Rock-bottom prices and predictions of a massive plunge in global oil demand for this year are seeing China buy up record tonnes of Russian oil, temporarily vindicating Moscow as it persists in its stubborn market share war with the Saudis. Reuters reported that China is scooping up 1.6 million tonnes of Russian Urals grade oil for […]
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 […]
The spread of coronavirus, coupled with rising threats of cheap imports from China, Japan and South Korea, has kept the lid on domestic steel prices and forced steel producers to consider pruning production in the short term, amid subdued demand. In a recent report, Kotak Securities has projected a price cut of Rs 1,000-1,500 per […]
Gold prices jumped Rs 1,395 to Rs 41,705 per 10 gram yesterday (Friday), following rally in the international prices of the precious metal. On Thursday, the precious metal had closed at Rs 40,310 per 10 gram. Meanwhile, silver prices advanced Rs 2,889 to Rs 38,100 per kg against the previous close of Rs 35,211 per kg. In the international […]
Global pepper market is witnessing a grim scenario with no demand seen in the past two weeks as the coronavirus outbreak impacts its prices in Europe and the US. As it is the demand has fallen by 6-8 per cent in 2020. This could fall further with COVID-19 as it spreads to key markets of […]
After having instructed Aramco to boost production to unseen levels, Saudi Arabia now plans to boost oil exports in May to a record 10 million barrels per day, causing oil prices to fall once again. In the last couple of days, Aramco has offered their Arab Light and Arab Heavy blends for between $25 and $28 dollar per barrel […]
Amid the crisis over the global market due to the Coronavirus outbreak, the centre has identified 21 agricultural products wherein India can grab part of China’s market share. As per reports, these include honey, potatoes, grapes, soya beans, and groundnuts, in which Indian exports could benefit from trade restrictions against Chinese goods across the global […]
Copper and iron ore prices have held up surprisingly well as markets in the West belatedly come to grips with the coronavirus pandemic and China shifts focus from containment to rebuilding its economy following more than two months of inactivity. PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on […]
Global carbon dioxide (CO2) emissions from the power sector fell by 2 per cent last year, the biggest fall since at least 1990, owing to reduced coal usage in Europe and the United States, an Ember study quoted by Reuters revealed. Coal-fired power generation fell by 3% globally, also the largest fall since 1990, research […]
Maharashtra’s sugar production estimates have been revised to 60 lakh tonnes from 58 lakh tonnes by the state sugar Commissionerate with increase in sugar recovery rates reported by several mills in Kolhapur region, reports Financial Express. Significantly, sugar mills from Kolhapur and Sangli, which were affected by the floods during the monsoons, have reported 10 […]
