The Russia-Ukraine war and the stringent sanctions on Russia by the West have thrown up more opportunities for India’s businesses than earlier anticipated. Defence production and maintenance, shipbuilding and oil refining are three areas where Indian firms are already beneficiaries or have at least received enquiries from potential importers. India’s petroleum products exports, which surged […]
India’s largest electronics recycling firm Attero Recycling will spend $1 billion in the next five years and add plants in Poland, Ohio and Indonesia starting this year, its CEO told Reuters, aiming to tap into a global boom for electric vehicles. The World Bank-backed company, whose clients include Samsung Electronics and Hyundai Motor, also plans to […]
Manufacturer of solar panel glass, Borosil Renewables has announced that it will invest Rs 1500 crore in the next two-years to increase its capacity by almost 2.5 times and supply 15 gigawatts (GW) of solar modules by FY25. “We are increasing our investment because we are the only domestic manufacturer for solar panel glasses and […]
The world’s demand for natural gas is set to decline slightly in 2022 as a result of higher prices and market disruptions caused by Russia’s invasion of Ukraine, according to the International Energy Agency’s latest quarterly update. The expected small contraction in global gas demand compares with the IEA’s earlier forecast of 1% growth in the […]
The replacement of Russian gas in the European energy mix could be challenging in the short term, which will keep gas prices high, but is feasible in the medium term, Fitch Ratings said. The search for alternatives has accelerated due to the Ukrainian crisis and related European sanctions that may lead to supply disruptions or […]
Tata Steel said its consolidated steel output stood at 7.57 million tonnes for the quarter ended March 31, 2022, registering a year-on-year fall of about 3 per cent. The company had produced 7.80 million tonnes of steel during the January-March quarter of financial year (FY) 2020-21, Tata Steel said in a statement. Its total sales, […]
ArcelorMittal SA, Europe’s biggest steelmaker, has eliminated Russian commodities from its supply chain following the invasion of Ukraine. Governments and companies across Europe are trying to curb their dependency on Russia, driving up prices of energy and commodities. The country has been a key supplier of iron ore and coal for the region’s blast furnaces […]
World stainless steel melt shop production rose by 10.6 per cent year on year in 2021 to 56.3 million tonnes, according to figures released March 14 by International Stainless Steel Forum. Output was up in all regions monitored by the ISSF, with Asia, outside of China and South Korea, showing the largest climb of 21.2 […]
The Russian invasion of Ukraine has the potential to establish a new commodity world order that tilts reliable supply toward North America, Bloomberg Intelligence said in a research note. Analyst Mike McGlone argues that should oil and gas prices continue to spike amid the increased geopolitical tension, it could very well be the catalyst for […]
The world’s leading integrated steel and mining company ArcelorMittal reported a three-fold rise in net income at $ 4,045 million (around Rs 30,100 crore) for the fourth quarter ended December 31, 2021. The company had posted a net income of $ 1,207 million in the year-ago period. Sales rose to $ 20,806 million in October-December […]
