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Prices decline on account of overall slowdown

Declining demand coupled by a slowdown in major consuming sectors like automotive and infra is continuing to take a heavy toll on steel prices in July. The prices of hot rolled (HRC)...
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Struggles continues for the white metal

In July 2019, aluminium rose marginally by 0.28% on LME and dipped over 3% on MCX. Strengthening of US Dollar Index and escalating tension between US & China weighed on prices.
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Ongoing trade war dampens investment sentiments

The US and China - have over the past year been locked in a trade war that has spilled into areas like commodities, technology and now currencies. Trump’s tariff threat came just after both sides...
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Galvanizing metal trades lower on weaker sentiments

Zinc prices continued their downward move last month as well with the metal closing lower by 53 points. The proceedings started off on a flat note but the overall sentiment remained weak, with the metal inching...
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The battery metal can remain steady

Lead prices traded on mixed path in the month of July as supply shortage supported the prices while decline in demand kept upside capped. Lead prices traded in range of 150.80-159.45 in June on MCX.
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Supply shortage fears, accumulations of long positions in China led to rise in prices

he stainless steel metal started July on a weaker note initially and later in the second week prices started to surge amid the expectations of ban in exports of nickel ores from Indonesian mines...
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Steel sector to weaken in FY20 due to impact of low prices, high input cost

The fundamentals for the steel industry are likely to weaken in FY20 under the twin impact of softer prices and higher input costs on the back of low demand. Domestic steel companies will be impacted....
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Safeguard duty re-imposition for steel unlikely

The Directorate General of Trade Remedies (DGTR) is not likely to accede to steel industry's demand for re-imposition of safeguard duty on imports of various...
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Shanghai Ni prices surge on supply concerns

Shanghai nickel prices rose, while a key indicator of supply shortage jumped to a decade high last Friday, amid worries about supplies disruption from top ore producer Indonesia. On Friday, Shanghai Futures Exchange's most active nickel...
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Closing world's largest Co mine could lead to price rebound

The shutting down of the world's largest cobalt mine could be exactly the stimulus the metal needs to stage a comeback from recent lows, in the view of the market. Global diversified natural resources company...
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China's rising steel output in balance with domestic property demand

China's apparent consumption of crude steel over January-July rose 8.9% on year to 526.76 million mt and will be robust enough to absorb the surge in domestic...
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Govt mulling Adarsh scheme to put mining on track

he government of India is planning to identify 25-30 mineral-rich districts in the country to accelerate mining programmes by expediting the approval mechanism...
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Govt index to show revenue of coal block operators

The government will use its own coal price index to calculate revenue earned by operators of coal blocks to ascertain its share of income from 27 blocks being auctioned to the non-regulated sector.
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SEFI urges PM to merge NINL & SAIL

The industry body Steel Executives Federation of India (SEFI) has written to the Prime Minister, seeking immediate merger of the loss-making Neelachal Ispat Nigam Ltd (NINL) with the bigger state-run steel maker Steel Authority of India Ltd (SAIL).
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Tata Steel rejigs India, Europe operations

Steel major Tata Steel has embarked on an exercise to restructure and simplify its group structure by cutting down and reorganising its subsidiaries in Europe and India. "In Europe, we have some 300 subsidiaries. The clean-up has already started and we are looking...
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EC cuts quota hike in steel safeguard review

The European Commission has reduced the planned increase in tariff-free steel quotas to 3% from 5% across all product categories, noting that 2018 was a record year for shipments to the EU.
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Steel sector to soon see turnaround: RINL

The state-run Rashtriya Ispat Nigam Limited (RINL) Chairman-cum-Managing Director P.K. Rath exuded confidence that the sluggish market being witnessed by the steel industry would be overcome this year.
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WB, Odisha, J'hand steel share to grow

Odisha, West Bengal and Jharkhand will contribute in a big way in meeting the ambitious 300 million tonne (MT) steel production target, Union Minister Dharmendra Pradhan said.
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India's steel output edges past world's in H1

India's crude steel production has grown more than the world output during the first six months of calendar year 2019 compared to the same period of 2018. During the first half (January-June) of 2019, the production of the metal...
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Kamdhenu Q1 net grows 2.9%

Producer and seller of branded TMT bars Kamdhenu Limited has reported a consolidated net profit of Rs.6.08 crore for the quarter ended June 30, 2019. This was 2.9 per cent higher than the net profit of Rs.5.91 crore recorded...
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Odisha mine auctions may see muted response

The forthcoming iron ore mine auctions in Odisha might see muted participation from steel makers worried about high bid expectations, company executives said. The state will auction eight mines with total reserves...
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McNally Bharat signs non-binding deal with investors' consortium

McNally Bharat Engineering, the projects execution entity of the tea-to-dry cells conglomerate Williamson Magor Group (WMG),said last Wednesday that it has signed a non-binding financing deal with a consortium...
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ABB names Björn Rosengren as CEO

The Board of ABB has unanimously appointed Björn Rosengren, as Chief Executive Officer. He will join ABB on February 1, 2020 and succeed CEO, Peter Voser, in this role on March 1, 2020. At that time Peter Voser...
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States' dues to renewable power cos stand at Rs 3,000 cr: CEA

In just a week after opening a new portal for collating data on dues of renewable power projects, the Central Electricity Authority (CEA) has received details of Rs 3,000 crore of pending dues. More than 50 per cent..
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Govt to take bigger revenue share from coal sold in open market

The government will take a higher revenue share from the portion of coal output that is sold in the open market by winners of coal blocks on offer in the current round of the auction. Winners will be allowed to sell a quarter..
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CARE downgrades outlook for eleven solar generators

CARE Ratings downgraded the outlook for 11 solar generators with an aggregate capacity of 574 MW to negative to reflect their weakening liquidity position arising from delays in getting payments...
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Govt to take bigger revenue share from coal sold in open market

The government will take a higher revenue share from the portion of coal output that is sold in the open market by winners of coal blocks on offer in the current round of the auction. Winners will be allowed to sell...
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CARE downgrades outlook for eleven solar generators

CARE Ratings downgraded the outlook for 11 solar generators with an aggregate capacity of 574 MW to negative to reflect their weakening liquidity position arising from delays in getting payments...
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Global EV charging points to consume 250% more Cu by 2030

Over 20 million electric vehicle (EV) charging points are expected to be deployed globally by 2030, consuming over 250% more copper than in 2019. However, in order to meet these targets, much more private...
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Copper prices under pressure, has the potential to fall further

Copper, often seen as a barometer for the overall health of the global economy, has been feeling the pinch in the face of an increasingly gloomy outlook. The red metal has been hit hard by lacklustre...
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Nalco may set up technology division, to get into equipment mfg

The state-controlled aluminium giant Nalco has firmed up plans to set up a new technology division. The aim is to develop indigenous technologies for making equipment that will cater to the domestic aluminium...
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Nalco, Midhani in JV for Al alloy plates

The state-owned National Aluminium Company (Nalco) has inked a pact with Mishra Dhatu Nigam (Midhani) to incorporate a joint venture company (JVC) to set up high-end aluminium alloy plant for manufacturing...
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Patra recommended for Nalco's CMD post

The Public Enterprises Selection Board (PESB) has suggested Sridhar Patra for the post of chairman cum managing director of National Aluminium Company (Nalco).
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Govt must safeguard local cos: Hindalco

The government should insist on inserting a 'circuit-breaker' - a sort of quantitative restriction on imports - for each commodity while finalising the Regional Comprehensive Economic Partnership (RCEP)
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Optimistic on Cu prices: Codelco CEO

The incoming chief executive officer of Chile's state copper miner Codelco said he was "optimistic" about the long-term market price of copper despite the global volatility caused by the U.S.-China trade war.
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Al plants not hit by floods: China Hongqiao

China Hongqiao Group, the world's leading producer of aluminium, said it was operating as normal after Typhon Lekima lashed its home province of Shandong at the weekend and cause severe flooding.
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World of Metal Expo 2019 - giving wings to the sheet metal sector

The global sheet metal market size is expected to grow by USD 69.16 billion during 2018-2022 due to its wide scale application in industries like automobile, aircraft, agriculture machineries and appliances.
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China threatens to retaliate against US

China called planned US (US) tariffs on an additional $300 billion in Chinese goods a violation of accords reached by Presidents Donald Trump and Xi Jinping, signalling an American move earlier this week...
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PM meets FM for economy booster dose

Prime Minister (PM) Narendra Modi on Thursday last met Finance Minister Nirmala Sitharaman and officials of her ministry to find solutions to the economic slowdown that has eroded wealth and hit jobs.
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Euro zone Q2 growth slows

The euro zone's GDP barely grew in the second quarter of 2019, data showed last week, as economies across the bloc lost steam and the largest, Germany, contracted thanks to a global slowdown driven by trade conflicts...
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Exports rise, trade deficit narrows in July

After a decline for the first time in nine months in June, India's exports saw a growth in July, even as imports slipped, narrowing the trade deficit last month, the government data released late in evening last Wednesday showed.
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India, China no more developing nations:Trump

US President Donald Trump has said that India and China are no longer "developing nations" and were "taking advantage" of the tag from the WTO and asserted that he will not let it happen anymore.
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China's industrial output hits 17-year low

China's economy showed further signs of strain in July with output at its factories falling.. to its lowest level in 17 years, while investment and retail sales slowed, official data showed last week.
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