China sets antidumping measures on steel products from EU, Japan, South Korea, Indonesia; Indonesia also slaps duty on Indian steel

Indonesia and China slapped anti-dumping import duties on each other’s steel products in an escalation of a global tariff row involving one of the world’s most widely used metals. Indonesia extended anti-dumping import duties of up to 20 per cent for a number of flat-rolled iron and steel products from seven countries, including China, Russia […]

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India’s steel ministry evaluating demand for minimum import price for HRC steel

Major steelmakers in India are advocating to the government the need for the imposition of a minimum import price (MIP) on hot-rolled coil at $615 per tonne “upon factoring cost escalation due to raw material price,” similar to the earlier imposition in 2016, minutes of a recent meeting of India’s Ministry of Steel (MoS) revealed. […]

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Extreme weather adversely impacts coffee output in last 4 years

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Coffee-producing South Indian states have been witnessing a series of extreme weather events in the last four years. Extreme rainfall causing heavy flood and large-scale landslides in August 2018 in coffee producing areas of Kerala and Karnataka led to a dip of around 20 per cent in the total coffee production. South Indian states like […]

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Indonesia relaxes levies on palm oil

Indonesia has relaxed rules on levies for palm oil and derivative products effective immediately following a drop in palm oil prices, according to the Indonesian  finance ministry regulation uploaded on a government website. Indonesia, the world’s top exporter of palm oil, will not collect levies from palm exporters when prices are below a threshold of […]

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Indonesia to start construction of $4 billion EV battery project in Jan 2019

Developers will begin building a lithium battery project in Morowali, on the Indonesian island of Sulawesi, on Jan. 11, Indonesia’s Coordinating Maritime Minister Luhut Pandjaitan said last week, as reported by Reuters. The $4 billion project involves investors from South Korea, Japan and China, Pandjaitan told reporters, without naming the companies involved or providing further […]

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Indonesia’s Inalum sells $4 billion in bonds to fund Freeport purchase

State-owned Indonesian miner PT Indonesia Asahan Aluminium (Inalum) sold $4 billion of bonds last week in its first-ever U.S. dollar bond deal to fund the acquisition of a majority stake in the world’s second-biggest copper mine, reports Reuters The deal came amid choppy global markets, rocked by trade concerns and slowing economic growth in Asia […]

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China battery firms to set up $700m nickel joint venture in Indonesia

Chinese battery firm GEM Co Ltd announced last week that it was teaming up with four companies to invest a total of $700 million in a project to produce battery-grade nickel chemicals in Indonesia, reports Reuters . The investment comes as several global metals producers have also set their sights on Indonesia’s nickel reserves, looking to tap […]

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