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 […]
Global equity selloff has had a ripple effect on the commodities markets with prices of major global commodities falling between 1 and 3.2 per cent on Friday. This is owing to the widespread coronavirus outbreak across the world which pushed the global economy into uncertainty, says a Business Standard report. The decline was sharper in India due to nearly […]
Gold prices climbed to their highest level in seven years on Thursday as an uptick in the number of coronavirus cases in South Korea fueled worries over the wider economic impact of the outbreak. Spot gold rose 0.44 per cent to $1,618.38 per ounce by 1:41 p.m. EST (1841 GMT), after hitting its highest level since February 2013 […]
The primary aluminium manufacturers and their counterparts in secondary re-melting industry have locked horns over an array of issues concerning the domestic market with imports and metal prices being the most contentious points, reports Business Standard. Reacting to a string of allegations made by Aluminium Secondary Manufacturers Association (ASMA), the Aluminium Association of India (AAI) […]
Sales of non-ferrous metal companies contracted by 4.7 per cent in the second quarter (Q2) of this fiscal on account of overall weakness in metal prices, reports Business Standard. Among the non-ferrous metal companies, aluminium firms witnessed 21 per cent contraction in sales. A study by CARE Ratings noted that the average prices of aluminium in Q2 of FY20 […]
BY GORAN DJUKANOVIC for Aluminium Insider Base metals prices tumbled to their lowest in several weeks at the start of August, after U.S. President Donald Trump said he would slap a 10% tariff on the remaining US$ 300 billion of Chinese imports from September 1, after no progress was achieved at the last round of […]
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 results of the survey by the London Bullion Market Association of analysts predicts gold price in 2019 to touch $1,400 an ounce. The LBMA, a standard setting body for the industry, says the average forecast by the 30 analysts polled calls for a modest 1.8% gain in the price this year. However, two-thirds of the analysts […]
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 […]
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 […]
