Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]
OPEC’S share of India’s oil imports fell to 73 per cent in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers. India, which usually imports about 80 per cent of its needs from members of the Organization of the Petroleum […]
Strong investment demand driven by heavy buying by the Exchange Traded Funds (ETFs) and a weaker rupee has triggered a sharp gain of nearly 20 per cent in silver prices over the past one month. Silver prices crossed ₹50,000 a kg in futures on MCX. Among the factors pushing up the precious metals are the ongoing […]
After last year’s bumper profits for China’s steelmakers, there is a risk that the steel supply might outpace demand in 2019 as producers become leaner and more efficient than ever, industry leaders have warned, Caixin Global reported. It said that despite government promises to cut excess capacity, China still produces over half the world’s steel, with […]
Silver will see a resurgence in demand this year from rural Indians spending cash handouts from the government designed to aid local economies ahead of the general election, according to Metals Focus Ltd. Purchases are set to rise to about 6,590 tonnes, beating the 6,442 tonnes bought in 2018 and marking the best year since […]
After a slow start to the year, steel production in India picked up in February, rising 5.7% from a year ago. Data from the joint plant committee compiled by SBICAP Securities Ltd also shows a healthy growth in steel demand, with consumption increasing by 8.6% last month. However, amid the mounting evidence of demand slowdown […]
India’s diesel demand is likely to double to 163 million tonnes (MT) in 12 years as consumption rises in the world’s fastest-growing economy, Oil Minister Dharmendra Pradhan said. In a written reply to a question in the Lok Sabha, Pradhan said as per the International Energy Agency’s World Energy Outlook 2018, the country’s oil demand is projected […]
Prices of liquified natural gas (LNG) have tanked over the past few years after a wave of new natural gas export capacity has come online in places like Australia and the U.S. However, despite fears that the LNG market would collapse under a massive glut of gas, the supply/demand balance for is a lot tighter […]
Global primary energy demand is set to increase by 35 percent in the period to 2040, with oil expected to have the highest share of the energy mix as demand increases to 111 million barrels/day, OPEC said in its latest World Oil Outlook report Key highlights of the report, which can be seen here: Total […]
The Indian government has imposed stock limits on sugar mills for the next two months to keep prices under control during the forthcoming festival season. Sugar production in India, the world’s second largest producer, is estimated to decline to around 21 million tonnes (mt) in 2016-17 season ending September from 25 mt in the previous […]
