Vedanta acquires Nicomet, a leading nickel-cobalt producer

Billionaire Anil Agarwal-owned Vedanta group has acquired Goa-based Nicomet, a leading nickel and cobalt producer. The acquisition is in line with Vedanta’s ESG mission and is a big step towards supporting India’s carbon neutrality goals. With this acquisition, Vedanta has become the country’s sole producer of nickel, the company said in a statement. “The move is […]

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Aluminium prices jump amid supply concerns on report of China smelter blast

Aluminium prices have surged amid supply disruption worries following a report that a smelter in China had stopped production after an explosion. An aluminium plant in China’s Yunnan province with annual capacity of 300,000 tonnes has stopped production after an explosion on Thursday evening, Shanghai Metals Market reported. The most-traded January aluminium contract on the […]

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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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Mystery surrounding Chinese stockpiles of commodities deepens

Every week since April this year, Chinese authorities have announced measures to control the price of many commodities, including energy and metals.  China has been trying to cool surging commodity prices by releasing inventory from its strategic reserves. The higher prices of oil, coal and metals have raised manufacturing costs, slowed down factory activity growth, and increased inflation […]

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The metals price rally is here to stay

As economies reopen in various parts of the world, metals prices have increased by 72 per cent relative to their pre-pandemic levels – reaching a nine-year high in May 2021. The increase has been broad-based across industrial metals – copper is up 89 per cent in May 2021 (year-over-year), iron ore is up 116 per […]

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