The outbreak of COVID-19 and a lockdown to prevent the spread are threatening to impact production of steel companies. Tata Steel is closing down its downstream standalone units in Maharashtra and Uttar Pradesh in line with guidance from respective states. The main sites at Jamshedpur, Kaliganagar and Angul, however, are operational, as they are process […]
On Monday, the government of India raised the cap on additional excise duty on petrol to Rs 18 per litre and diesel to Rs 12 per litre. This is an increase of Rs 8 per litre on the previous level of Rs 10 per litre on petrol and Rs 4 per litre on diesel. The […]
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 […]
India’s fuel demand has dropped by a steep 10-11 per cent in the first two weeks of March as the outbreak of coronavirus (Covid-19) led to the cancellation of flights and reduction in industrial activity. The country had consumed 19.5 million tonnes of petroleum products in March 2019, official data showed. Assuming consumption in two […]
Coal remains central in the power mix of the developing world, with coal plants still being built across Asia in order to meet rising baseload electricity needs. However, a more challenging macroeconomic environment and slowing power demand growth are raising some questions around the growth of coal even in developing economies. Last year may have […]
Vegetables prices went up further today despite increased arrivals of key produce in the Agricultural Produce Market Committee (APMC) Vashi, as the market decided to remain closed tomorrow in order to facilitate disinfection and protect participants from coronavirus (Covid-19), reports Business Standard. Total vegetable arrivals in the mandi surged to 830 vehicles, holding about nine tonnes each, and […]
According to report published by Geojit Financial Services, arrivals of cotton in spot markets across India declined to 147,500 bales (1 bale = 170 kg) on Tuesday from 149,000 bales on Monday. In Gujarat, the Shankar-6 variety was sold at 37,500-38,500 rupees per candy (1 candy = 355.62 kg). In Maharashtra, the 29-30 mm variety […]
Even though China may come back to post-coronavirus normal by the end of March, natural rubber (NR) consumption in key consuming countries may not pick up, says Kuala Lumpur-based Association of Natural Rubber Producing Countries (ANRPC). As the virus has been continuing to spread to more than 90 countries, the outlook on world consumption of […]
Gold imports, which have a bearing on the country’s current account deficit (CAD), fell 8.86 per cent to $ 27 billion (about Rs 1.90 lakh crore) during April-February period of the current financial year, according to commerce ministry data. Imports of the yellow metal stood at $ 29.62 billion in the corresponding period of 2018-19. […]
India’s sugar production has reached only 210 lakh tonnes as on March 13, 2020, which is nearly 57 lakh tonnes less than the previous season, according to National Federation of Cooperative Sugar Factories Federation (NFCSF). Of this, sugar mills in Uttar Pradesh have produced nearly 83 lakh tonnes, taking the lead yet again. UP’s sugar […]
