As we enter 2021, many mined commodity prices are riding high after recovering from a dramatic pandemic-induced slump in the first half of 2020. The new year, however, raises new questions. How will Chinese policy affect supply and demand in 2021? Will the growing rhetoric around decarbonisation be followed up with concerted global action? And […]
Copper hit its lowest in over a month as investors sought safety in the dollar due to rising coronavirus cases and lockdowns in large economies, pressuring metals priced in the greenback. Benchmark three-month copper on the London Metal Exchange (LME) fell 0.7 per cent to $7,765 a tonne, its lowest since Dec 23. The prospects […]
Vedanta group firm Hindustan Zinc Ltd reported a 35.8 per cent rise in net profit to Rs 2,200 crore for the quarter ended December driven by recovery in metal prices and strict cost discipline. The company had posted a net profit of Rs 1,620 crore in the corresponding quarter of the previous fiscal, Hindustan Zinc said in a […]
Global zinc mine output will recover in the coming years following several years of decline, Fitch Solutions forecasts in its latest industry report, adding that after contracting by almost 10% between 2013 and 2020, annual output will commence a multi-year uptrend starting in 2021. High prices by historical standards have encouraged investment into a pipeline of new […]
The spread of the Covid-19 pandemic led to lockdowns and economic devastation across the world. The story for commodities was far more nuanced, reflecting that the pandemic was not your run-of-the-mill global recession. The story for 2021 is likely to be dominated by the recovery from the coronavirus, especially since it now seems likely that […]
India’s top private sector steel maker Tata Steel has entered into a memorandum of understanding (MoU) with Vedanta group company, Hindustan Zinc to procure the firm’s complete domestic zinc requirements, according to a statement. This initiative would bolster the idea of Aatmanirbhar Bharat with one of the largest companies choosing to become vocal for local. “This MoU is […]
Commodity giant, Vedanta reported a 61.8 per cent decline in its consolidated net profit at Rs 824 crore for the quarter ended September 30, 2020 on the back of one-time tax expense. The company posted a net profit of Rs 2,158 crore in the year-ago period, Vedanta said in a filing to BSE. Income during July-September […]
Gold and silver prices have been volatile in the last 2 months after the correction from the August 2020’s high levels of Rs. 56200 per 10 grams and Rs. 78000/kg respectively. The prices that had dropped to a low of Rs. 49,200 per 10 grams for gold and Rs. 56,000/kg for silver has seen a […]
Consumption of non-ferrous metals like copper and aluminium would contract significantly this year due to the COVID-19 pandemic, rating agency ICRA said on Thursday. The pandemic has severely impacted the global automobile, construction and electrical machinery industries, which together contributes 75-85 per cent to the global non-ferrous metal demand, ICRA said in a statement. “Consequently, ICRA expects that in the current calendar year, […]
Zinc prices will edge higher over the remainder of 2020, continuing a strong rebound from the lows posted during the initial covid-19 outbreak, according to Fitch Solutions’ latest industry report. Zinc prices fell by 17.3% over the first three months of 2020, but have since recovered to post new highs for the year. Three-month zinc price averaged […]
