Gold prices shoot up by Rs 1,395 to Rs 41,705 per 10 grams; silver rises by Rs 2,889 to Rs 38,100 a kilo

Gold prices jumped Rs 1,395 to Rs 41,705 per 10 gram yesterday (Friday), following rally in the international prices of the precious metal. On Thursday, the precious metal had closed at Rs 40,310 per 10 gram. Meanwhile, silver prices advanced Rs 2,889 to Rs 38,100 per kg against the previous close of Rs 35,211 per kg. In the international […]

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Primary aluminium makers, and their counterparts in secondary re-melting industry spar over a range of issues

The primary aluminium manufacturers and their counterparts in secondary re-melting industry have locked horns over an array of issues concerning the domestic market with imports and metal prices being the most contentious points, reports Business Standard. Reacting to a string of allegations made by Aluminium Secondary Manufacturers Association (ASMA), the Aluminium Association of India (AAI) […]

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Drop in sales revenue by 4.7% for non-ferrous metal companies in September quarter

Sales of non-ferrous metal companies contracted by 4.7 per cent in the second quarter (Q2) of this fiscal on account of overall weakness in metal prices, reports Business Standard. Among the non-ferrous metal companies, aluminium firms witnessed 21 per cent contraction in sales. A study by CARE Ratings noted that the average prices of aluminium in Q2 of FY20 […]

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Global copper deficit estimated at 390,000 tonnes in 2018: ICSG

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 […]

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Over 100 mineral blocks in India ready for online auctions, says mines minister

As many as 100 virgin mineral blocks across the country are ready for online auctions, said Union minister for mines, rural development, parliamentary affairs and Panchayati Raj Narendra Singh Tomar. “So far, 53 mines have been auctioned. The electronic auction of these assets has brought in incremental revenue of Rs 1.43 trillion to states. The additional revenue […]

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US lifts Rusal sanctions; aluminium prices fall; supply to increase

The US government’s widely expected decision late Sunday to lift sanctions on Russia’s UC Rusal, one of the world’s biggest primary aluminum producers, led to a noticeable fall in the LME primary aluminum price. Traders are pointing to the possibility of bigger falls in future, as it is unclear how quickly material stockpiled at Rusal […]

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