The International Copper Study Group (ICSG) recently released its copper report covering 2018, which estimated a global refined copper deficit of 390,000 tons in 2018. According to the ICSG report, world mine production increased by an estimated 2.3% in 2018. “The increase in world mine production of about 460,000 t copper was principally due to […]
The U.S. and China have started to sketch out the framework of a comprehensive trade deal, including on some of the thorniest issues that have long prevented an agreement, according to a news report from Reuters. In the first few weeks of this year, there seemed to be little progress, raising the specter of a huge […]
India’s tea production nudged 0.8 percent lower in 2018 from a year ago to 1311.63 million kg, trimming exports from the world’s biggest black tea producer by 1.1 percent, the state-run Tea Board said. India’s exports eased to 249.11 million kg from 251.89 million kg a year ago, the board said in a statement. India, […]
European Union wheat production for 2018/19 is estimated at 137.5 million metric tons (mmt), down 7.5 mmt or 5 percent from last month, down 14.2 mmt or 9 percent from last year, and down 9 percent from the 5-year average due to high temperatures and drought, the U.S. Agriculture Department (USDA) said in Friday. It […]
German Chancellor Angela Merkel and Chinese President Xi Jinping have discussed overcapacity in world steel markets and agreed to work on solutions within the framework of the G20 group of industrialised nations. The two newly re-elected leaders, both facing planned U.S. steel and aluminium tariffs, have agreed to deepen their strategic partnership, a statement by […]
Global bigwigs are making fast investment into electric mobility in India, supporting the government’s drive to shift towards renewable energy. Delta Electronics India Pvt. Ltd., a part of $7.7 billion Delta Group from Taiwan, has launched its complete range of energy efficient electric vehicle (EV) charging solutions in India. The company has already showcased its […]
India’s export of oilmeal, used primarily for animal feed, dropped by 22 per cent to 2.36 lakh tonnes in December 2017 from 3.01 lakh tonnes in the year-ago period. However, total shipments this fiscal are likely to remain higher, industry body Solvent Extractors Association of India (SEA) said. Oilmeal shipments during April-December of the current […]
The OECD has welcomed the outcomes of the ministerial meeting of the Global Forum on Steel Excess Capacity, which was created by G20 Leaders, at their Hangzhou summit in September of last year. The 33 Members of the Global Forum agreed on a report with six guiding principles for governments on the basis of which the OECD […]
Tata Steel Limited’s (TSL) memorandum of understanding with thyssenkrupp AG for a 50:50 joint venture in Europe paves the way for the Indian steelmaker to reduce exposure to a structurally weaker business, Fitch Ratings said, adding that the company’s long-term issuer rating however remains on watch until further clarity. Definitive agreements for the proposed joint […]
Tata Steel Limited and Thyssenkrupp AG have signed a Memorandum of Understanding (MoU) to create a leading European steel enterprise by combining the flat steel businesses of the two companies in Europe and the steel mill services of the Thyssenkrupp group. The proposed 50:50 joint venture – Thyssenkrupp Tata Steel – would be focused on […]