A rise in the price of copper is likely to continue in 2021 on low inventories and a bullish demand narrative, though at a slower pace, industry analysts said. The red metal has found support on the back of upcoming elections and labor negotiations in Chile and Peru, an anticipated rebound of the global economy, […]
Saudi Arabia has announced reductions in crude oil volumes to be supplied to at least nine clients in Asia and Europe following its decision to add another 1 million barrels per day (bpd) to its OPEC+ production cut quota to prop up prices. Bloomberg reports that the Saudi Kingdom will slash supplies to some refiners by between […]
Petrol prices in Delhi touched an all-time high of Rs 84.2 per litre after rising by 23 paise today. Earlier, the petrol price had touched an all-time high of Rs 84 on October 4, 2018, in Delhi. Diesel prices, today, were also raised by 26 paise a litre, taking the price to Rs 74.38 a litre. While […]
Gold prices started the new year on a high by reaching an eight-week peak after surpassing the key $1,900 an ounce level, as a surge in COVID-19 cases and prospects of tougher coronavirus control measures lured investors to the safe-haven metal. Internationally, spot gold rose 1.1% to $1,919.07 per ounce, having hit its highest since Nov. 9 at […]
The all-India average retail price of onions has dropped by 60 per cent this year to Rs 40 per kg on timely government interventions to boost the supply, according to Consumer Affairs Secretary reported by PTI. “In one month alone, the all-India average retail price of onion has dropped by 33.33 per cent to Rs […]
The indefinite Chinese ban on Australian coal imports will keep import prices for India volatile over the near term, according to India Ratings and Research (Ind-Ra). For the Australia-origin coking coal import (comprising 67 per cent share in FY20) prices have remained subdued up to mid-December, providing respite to the spreads for domestic steel players […]
Indian steel prices have shot up by 55% on the back of soaring global prices and an acute shortage of iron-ore in the domestic market, drawing the attention of the central government on possible remedial measures to contain its impact on the manufacturing sector. Industry officials say that measures to relieve tight iron-ore supplies are […]
Soon after raising hot-rolled coil (HRC) prices by Rs 3,000 a tonne on 2 December, India’s domestic steelmakers have raised their benchmark product’s price by another Rs 2,200 per tonne. This price hike is effective from 9 December. A second hike during the month, on the back of buoyant domestic demand, was largely anticipated since […]
Cost of potato production has gone up significantly in West Bengal this season as more than half of the required seed-potato came from Punjab at a much higher price of Rs 10,000 per quintal. In the previous season, seeds were available at Rs 4,000 per quintal on an average. Last year, West Bengal’s production of […]
The impact of recent farm laws introduced by the Indian government –including the right to farmers to sell their produce anywhere as well removing stock limits on essential commodities — will begin to be realised in the next 2-3 years, according to global consultancy PWC. The new laws have met with strong resistance in certain […]
