Metal prices keep rising as supply cuts threaten inflation

Base metals surged again as the global energy shortage continues to hit supplies, piling pressure on manufacturers and fueling concerns about persistently high inflation. Zinc spiked as much as 6.3% to a 14-year high after leading producer Glencore Plc said it was cutting production at three European plants because of surging power prices. Price of aluminum, a particularly […]

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International Energy Association invites India to become full-time member: Oil Minister Puri

International Energy Agency (IEA) has invited India, the world’s third-largest energy consumer, to become its full-time member, India’s oil Minister Hardeep Singh Puri said after online discussions with IEA Executive Director Fatih Birol. If India accepts the invitation, New Delhi will be required to raise its strategic oil reserves to 90 days stock. India’s current […]

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China’s Chengxin, Tsingshan team up for $350m Indonesia lithium project

China’s Shenzhen Chengxin Lithium Group Co Ltd and an affiliate of steel and nickel giant Tsingshan Holding Group will invest in a $350 million Indonesian lithium project to capture demand from the electric vehicle (EV) battery sector, Reuters reported. Tsingshan, which shook up the global nickel market by rapidly increasing production at low cost in […]

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Global nickel production to rise 6.8% in 2021: GlobalData Report

Global nickel mine production is expected to grow by 6.8 per cent to reach 2,427.4 kilotonnes in 2021, after registering an estimated 4.2 per cent decline to 2,272 kilotonnes last year owing to covid-related lockdowns and restrictions, says GlobalData. In its latest report, the data analytics company noted that Indonesia (+16.3 per cent), the Philippines (+5.1 […]

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India’s sugar exports touch 5.11 million tonnes so far this year: AISTA

India’s sugar mills have exported 5.11 million tonnes of the sweetener so far in the ongoing 2020-21 marketing year ending September 2021, with maximum shipments to Indonesia, noted All India Sugar Trade Association (AISTA). About 2,02,521 tonnes of sugar is under loading. An additional 6,78,237 tonnes of sugar is in transit for delivery to port-based […]

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