Mango growers of Uttar Pradesh, India’s second largest mango hub are facing huge losses on lack of overseas orders and demand in the domestic markets mainly due to Covid-19 crisis. The local markets in UP are flooded with Dussehri as traders have no option left. The rates of Dussehri in the local market is lowest in last five […]
Last year, European Space Agency satellites detected huge plumes of the invisible planet-warming gas methane leaking from the Yamal pipeline that carries natural gas from Siberia to Europe. Energy consultancy Kayrros estimated one leak was spewing out 93 tonnes of methane every hour, meaning the daily emissions from the leakage were equivalent to the amount […]
Gold price edged higher on Monday, rebounding from the previous session’s steep fall, as investors are hopeful of further monetary policy action from the US Federal Reserve this week. Spot gold climbed 0.4% to $1,690.90 per ounce, while US gold futures rose 1.0% to $1,698.20 per ounce in New York. Investors believe the Fed reserve […]
As most countries have been gradually reopening from their lockdowns since mid-May, recovery of economic activities is expected in the third quarter, claims the recently released Short Range Outlook (SRO) report for 2020 and 2021 by Wordsteel. Even though all steel-using sectors are affected by the lockdown measures, the mechanical machinery and automotive sectors are […]
While relations were already fraying between the United States and China as a result of the coronavirus outbreak, Beijing’s vote this week to end Hong Kong’s autonomy may serve as a key turning point in relations between the two economic powerhouses. In response to China’s action, Secretary of State Mike Pompeo said that Hong Kong […]
Over the first quarter of 2020, COVID-19 has developed from an emerging threat to a transformational reality with potentially long-lasting effects on economic growth. All optimism for commodity markets at the start of the year was quickly extinguished as the coronavirus emerged in Wuhan, China. Prices have been dragged down further by dire market fundamentals […]
A recovery in worldwide steel production depends, primarily, on an upturn in market demand. The authorities in many countries are starting to gradually ease their lockdown restrictions. The potential exists for steel-intensive industries to rebound faster, at least initially, compared with a number of tertiary sectors, such as hospitality and retail. Automation in modern manufacturing […]
Players in the food processing value chain got a shot in the arm as the government allowed them to keep stocks without any limits subject to their capacities and export orders. It also unveiled a clutch of schemes aimed at boosting the infrastructure facilities and logistics chains across the value chain from farm-gate to retailing […]
UK-based MEPS forecasts that global crude steel production will fall to 1.8 billion tonnes, in 2020. This equates to a reduction of 75 million tonnes, compared with the figure recorded in the previous year. Early indications suggested that 2020 would be a year of modest economic recovery. Activity had been trending downwards since the zenith […]
The spot price of liquefied natural gas (LNG) in Asia has surged by more than 20 per cent in one week after demand in key importers China and South Korea picked up. Several buyers have also canceled U.S. LNG cargoes, traders told Reuters The spot price at which several LNG cargoes have been traded have ranged […]
