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 […]
Ahead of US President Donald Trump’s visit to the country, India-US trade talks are becoming tensed as Washington sought access for its dairy industry without addressing New Delhi’s concerns on the issue, almost ruling out any deal during President Trump’s visit. This tense situation is likely to impact major bilateral trades between the two countries. […]
Global shrimp prices are expected to face pressure over the next few months as global trade adjusts to the changing demand dynamics in China, a key importer and consumer of farmed shrimp, credit rating agency ICRA said. The report revealed that India is also likely to be affected from not only a reduction in Chinese […]
India’s chilli exports to China have been hit due to suspension of trade following the spread of novel coronavirus and the Centre should take steps to protect the interest of affected farmers, Congress leader K V P Ramachandra Rao said in the Rajya Sabha. Raising the matter during zero hour in Rajya Sabha, Rao said the country […]
OPEC+ is meeting urgently to discuss moves in the face of an inexorable slide in oil prices that has brought Brent crude far below $60 a barrel and that saw West Texas Intermediate dip below $50 this week, according to oilprice.com. “Given oil’s fast and furious fall — and the havoc that it could wreak […]
Kotak Commodity Services, one of India’s top cotton exporters, will stop selling new cargoes to China on concern the spread of coronavirus may force the top buyer of the fiber to close ports and banks, reports Financial Express. The Mumbai-based company will look for new buyers of cotton in countries such as Bangladesh, Indonesia, Taiwan […]
Gold and silver prices were trading lower as Indian rupee opened stronger against the US dollar on Tuesday. Comex gold was unchanged at $1,580 and MCX gold witnessed a minor correction since rupee has strengthened on Tuesday morning. Traders will further observe the outcome of the US Fed meeting on 28th and 29th January. Meanwhile China’s death […]
Global crude steel production reached 1,869.9 million tonnes (million tonnes) for the year 2019, up by 3.4 per cent compared to 2018. Crude steel production contracted in all regions in 2019 except in Asia and the Middle East. Asia produced 1,341.6 million tonnes of crude steel in 2019, an increase of 5.7 per cent compared […]
India’s imports of Middle Eastern oil plunged to a four-year low in 2019, tanker data obtained from sources shows, as the energy-hungry nation diversifies its supplies to cut costs and help shield itself from geopolitical tensions, reports Reuters. India, the world’s third-biggest oil consumer, imports about 84 per cent of its oil needs and traditionally […]
The Trump administration imposed new sanctions on Iran last week, including penalties on the Islamic Republic’s metals and some senior leaders, following Tehran’s attack on U.S. military bases. The sanctions target steel, aluminum, copper and iron, as well as eight senior Iranian officials and sectors of the economy, such as construction, manufacturing, textiles and mining, […]
