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Covid-19 may elevate downside risks for the sector

India Ratings and Research (Ind-Ra) expects the Covid-19 outbreak to increase downside risks for the steel sector in the near term, with the already modest domestic steel prices impacting the operating margins.
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The metal caught in the virus wave

The first two months of 2020 turned out to be no good for industrial metals. Markets expected base metal prices to prosper after witnessing a truce between US and China, the first phase deal, which was signed on 15th January...
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Industrial metal finds no respite as coronavirus aggravates downside risk

An economic disaster just few years ago, China now touches the lives of billions of people around the world. The growth in China is significant for industrial giants, auto industry, renewable energy, and countless...
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Alloying metal’s prices take a hit following huge dip in Chinese auto sales

Zinc prices continued the slide lower for yet another month, with prices posting lows below the $2,000 mark before closing marginally above the same. The month started off on a weak note and continued...
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The battery metal can remain downbeat

The battery metal lead traded in red in the month of February due to spread of coronavirus in many parts of the world, impact of it on global economic growth and lower PMI figures from many countries.
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Prices will take cues from the virus scenario

Nickel prices have been trading red since the start of 2020 even as individual fundamentals remain stronger but demand stimulus from EV battery manufacturers and steel sector failed to push prices higher. Nickel prices closed...
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Coronavirus outbreak impacts demand

Global production of refined tin fell by 6.6% to 334,400 tonne in 2019, according to the International Tin Association (ITA), but as the coronavirus outbreak saps demand and hobbles China’s supply chains, it could fall to Indonesia to balance the market.
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The white metal market is expected to witness volatile movement in March

The global silver market had witnessed a roller-coaster ride in the month of February with prices remaining negative during the first fortnight and recovering in the first week of second fortnight before witnessing a deepest fall in the last week...
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Bullion prices moved down amid fall in demand on fears over global economic slowdown

While gold prices rose on worries over global economic slowdown amid rapid spread of coronavirus across the globe, a sell-off in global stock markets at the fag-end...
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Coronavirus and its impact on the copper market

The novel coronavirus (2019-nCoV), a pneumonia-like syndrome, was diagnosed in late 2019 in China. It originated in Wuhan, the capital city of Hubei Province. The coronavirus quickly spread to other cities in Hubei...
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The red metal copper 2020 demand looks promising

The red metal (as copper is generally addressed) managed to end the year 2019 in green contrary to its performance during the year.
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COVID-19: An opportunity for India's steel sector?

Outbreak of the novel coronavirus (COVID-19) offers an opportunity for India to become an alternate supply chain to China in metals, especially steel, some experts in India feel.
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Italian steel market quiet

Steel sector in Italy, one of the countries most affected by the coronavirus, is quiet, with prices mainly stable while market participants assess developments not only in the domestic market but also in the rest...
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Steel scrap prices supporting iron ore demand

Iron ore and pellet markets may see demand support from the stability in seaborne ferrous scrap prices this month, incentivizing scrap substitute direct reduction iron and pig iron, according to S&P Global Platts analysis.
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Iron ore displays safe haven qualities amid commodities rout

Iron ore prices - which touched a five-year high mid-2019 on supply issues before slipping back - have remained comparatively strong so far during the coronavirus crisis, leading some players and analysts to describe...
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Govt's panel to decide changes in mining policy

The government has set up a high-level committee under NITI Aayog vice chairman Rajiv Kumar to draw a road map for opening up of the country's mining sector...
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Coal sector now open for commercial mining

Parliament on Thursday last passed a bill that will remove end-use restrictions for participating in coal mine auctions and open up the coal sector fully for commercial mining for all domestic and global companies.
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Lower allocation may lead to shortfall in govt projects

A lower budgetary allocation in FY20-21 will lead to a substantial shortfall in completion of projects under the Ministry of Coal, according to Standing Committee on Coal and Steel. "With the reductions in annual budgetary allocations, the Committee apprehends...
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China's Jan-Feb steel exports fall 27% year on year

China's finished steel exports are expected to rebound modestly in March and April after tumbling over January-February, but are unlikely to return to the levels seen in the same period last year, traders said.
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SAIL, Railways in talks for 15.5 lakh tonne rail order

The state-run Steel Authority of India Ltd (SAIL) is in talks with the Indian Railways for an order to supply about 15.5 lakh tonne of rail in the next financial year, a company official said.
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Energy sector steel demand to take hit as oil prices fall

Steel demand in the US from the energy sector was likely to take a hit as oil prices fell during the week, S&P Global Platts reported. Crude oil futures plummeted amid a price war triggered between two large oil-producing...
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JSW posts 5% growth in crude steel output

JSW Steel said it has registered a growth of five per cent in crude steel production at 1.320 MT in February 2020. The company had produced 1.257 million tonne (MT) crude steel during the same period last year, it said...
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Tata Steel may cut jobs in Europe

Tata Steel Europe is planning to cut 1,250 jobs as it faces "challenging circumstances" and "needs to urgently improve profitability", chief executive officer Henrik Adam said in an internal memo. "Our financial situation...
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Tata Steel CoD approve fund raising

Tata Steel said the committee of directors (CoD) has approved raising Rs 670 crore through issuance of debt securities. The decision was taken at a meeting of the Committee of Directors, which is constituted...
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JSW mulls Monnet-like plan for BPSL buy

JSW Steel is mulling a Monnet-like structure for the proposed acquisition of Bhushan Power and Steel (BPSL) to avoid having debt on its books. Sources said a group company would have majority holding in a special purpose...
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RSP registers record production in Feb

The Rourkela Steel Plant(RSP) registered the highest February production of hot metal from two of its blast furnaces, officials said Sunday last. The RSP produced 2,29,704 tonne of hot metal from Blast Furnace-5...
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Tata Steel to cut dependence on China

Steel major Tata Steel has decided to reduce its dependence on China for some key steelmaking inputs in the wake of the Covid-19 scare. The steel major said it is tapping alternative supply sources in Turkey and Brazil.
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Record results in Grundfos strengthens foundation for the future

Grundfos reaches its 10% profitability target one year ahead of time and secures the highest ever sales, employee satisfaction and customer loyalty.
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Coal output from captive mines rises 22% in April-Jan 2020

Coal production from captive mines in the first 10 months of the ongoing fiscal have increased by 21.8% year-on-year (y-o-y) to 46.3 million tonne (MT) from the corresponding period in FY19. However, more than 53%...
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Tepid response to Gujarat solar tender

A 500 MW solar tender issued by Gujarat has received a lukewarm response because most solar energy generators found the ceiling tariff to be too low, industry insiders said.
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'Vehicle output may be critically hampered due to COVID-19'

Vehicle production across all categories is likely to be critically hampered due to the coronavirus outbreak in China as many automakers in India import about 10 per cent of their raw materials from the neighbouring...
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'BS-VI fuel transition to be smooth'

The transition from Bharat Stage-IV fuels to BS-VI will be smooth and already most of the retail outlets of Indian Oil Corporation Ltd are dispensing BS-VI fuels. R Sravan S Rao, Executive Director & State Head, Telangana...
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Short-term disruptions to result in volatile base metals prices

India Ratings and Research (Ind-Ra) has revised its outlook on the base metals sector to negative for FY21 from stable. The coronavirus outbreak, continuing US-China trade dispute and subdued global demand...
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Novelis inches closer to clinching the $2.6 billion Aleris deal

Hindalco will close the $2.6 billion Aleris deal through its U.S. arm Novelis, as it obtained a nod from the antitrust division of the U.S. justice department on the condition that the company will sell Aleris' aluminium...
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Vedanta's Lanjigarh refinery output to rise to 1.8 million tonne

Vedanta Ltd said its alumina refinery at Lanjigarh is expected to post an increase in total production to increase to 1.8 million tonne in FY 20 from 1.5 million tonne in the previous year, led by significant...
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GP Global bags Hindalco biomass boiler order

UAE-headquartered GP Global is set to provide non-conventional energy solutions to Indian industries. The oil and gas trading firm is setting up a biomass boiler for metals major Hindalco Ltd, even as it is in talks...
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Russian metals cos face triple challenge

Russian metals producers are facing a three-pronged challenge from plunging oil prices, a weak ruble and the coronavirus outbreak, but the medium-term outlook still presents a mixed picture, according to analysts.
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'No promise on steel, Al tariffs on Brazil'

President Donald Trump praised the United States' relationship with Brazil under Brazilian President Jair Bolsonaro last week, but declined to say whether he would impose steel and aluminium tariffs...
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Ind-Ra revises Vedanta's outlook to negative

India Ratings and Research (Ind-Ra) on Monday last said it has revised downward Vedanta Ltd's outlook to negative from stable. "Ind-Ra has revised Vedanta Ltd's (VL) outlook to negative from stable while affirming its long-term issuer rating...
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Indian Oil to set up Al air battery plant

After picking up a stake in Israel-based battery developer Phinergy last month, state-run Indian Oil Corporation is now looking to set up a factory for aluminium-air batteries for electric vehicles (EV) in India.
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New date for wire and Tube Düsseldorf

he world's leading international trade fairs for the wire, cable, tube and pipe industry, wire and Tube, will take place from 7 to 11 December 2020 at Düsseldorf Fairgrounds. This is Messe Düsseldorf's timely response to the postponement of the industry highlights announced...
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HANNOVER MESSE 2020 postponed

HANNOVER MESSE 2020 has been postponed to the week of 13 to 17 July. Deutsche Messe AG is thus responding to global developments related to the Coronavirus. Hannover. Deutsche Messe made the decision to postpone HANNOVER MESSE 2020....
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EIA revises down Brent price forecast by $18 for 2020

The US' Energy Information Administration (EIA) has revised down its Brent crude oil price forecast for 2020 by $18 per barrel, according to its monthly Short-Term Energy Outlook (STEO) report for March released. The international benchmark...
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India's current account deficit dips to 0.2%

India's current account deficit (CAD) narrowed sharply to $1.4 billion or 0.2% of GDP in Q3 of 2019-20 from $17.7 billion (2.7% of GDP) in Q3 of 2018-19 and $6.5 billion (0.9% of GDP) in Q2 of 2019-20...
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