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FY2025 domestic consumption growth revised upwards to 9-10%

Domestic steel consumption registered a growth of 11.3% between February to April 2024, according to ICRA’s latest note on the steel sector. While government capex spending was healthy until February 2024...
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Market in uptrend mode driven by supply concern, robust demand from green energy sector

The aluminium market has experienced a significant surge, outpacing other base metals like copper and lead. This upward trend is driven by supply disruptions, increasing demand from green energy sectors, and investor activity.
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Red metal’s influence on 2024’s economic and energy landscapes

The copper market, often referred to as “Dr. Copper” due to its predictive power over the global economy, plays a pivotal role across various industries, from construction to renewable energy. As of mid-2024, the market’s...
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Softer dollar, potential Fed rate cut & supportive China policies to spur prices

The prices of metals, including zinc, a nonferrous metal essential for galvanizing steel, have been on a significant upward trajectory in recent months. This broad-based momentum across commodities can be attributed...
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Faces critical price levels amid market uncertainty

Lead futures on the Multi Commodity Exchange (MCX) experienced a sharp rally from early April to early May but then entered a consolidation phase. The June lead futures contract has been unable to surpass Rs 196...
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Current volatility in prices: Result of profit-taking?

Nickel prices have once again become highly volatile. Is this due to classic profit-taking by market investors? It appears so, but let’s delve deeper into the factors at play. Additionally, the Federal Reserve’s current stance....
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Prices poised for further gains amid supply risks

Tin prices, which have surged to nearly two-year highs in recent months, could see further increases due to supply disruptions, geopolitical tensions, potential interest rate cuts, and stabilizing demand, according to analysts.
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Improving economic condition, rising demand pushes prices northward

The world silver market staged a strong rally in May 2024 surging to its highest level since 2012 tracking surge in the bullion market, Further, improving economic condition across the globe and rising consumption demand
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The yellow metal prices sway upwards on expectations of Fed rate cut

MCX Gold June ‘24 futures contract started the month of May 2024 on a steady note at Rs. 70,725 per 10 grams, up by 0.4 per cent from previous month’s close, largely on expectations of potential U.S. Fed rate cuts...
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Bismuth prices surge: Is it global warming or global price warming?

China, the world’s dominant producer and exporter of bismuth, recently experienced a significant surge in bismuth prices. In May 2024, China’s refined bismuth production declined slightly compared to the previous month,
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‘India’s steel demand to surge by 10 per cent or higher’

Nagendra Nath Sinha, India’s Steel Secretary, has projected a robust growth trajectory for the country’s domestic steel demand, expecting it to maintain a steady climb of around 10% or higher in the foreseeable future.
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Infra, housing, construction & EV to propel the growth of lead & zinc industry

The industrial metal lead is an important material for pigments, weights, cable sheathing and ammunition, but its largest area of application by far has traditionally been in lead-acid batteries. The rise of electric vehicles (EVs) is expected to weigh...
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Rise of electro-galvanizing steel fuels electric parts market growth

The global galvanized steel market size was valued at USD 98.80 billion in 2023 and is projected to grow from USD 104.28 billion in 2024 to USD 166.09 billion by 2032, exhibiting a CAGR of 5.9% during...
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Lead acid battery market set to surge: Projected to reach $75 bn by 2031

The global lead acid battery market size was valued at USD 48.3 billion in 2022. It is projected to reach USD 75 billion by 2031, growing at a CAGR of 5.02% during the forecast period (2023–2031), as per Straits Research.
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New global battery energy storage systems capacity doubles in 2023

Global battery energy storage systems, or BESS, rose 40 GW in 2023, nearly doubling the total increase in capacity observed in the previous year, according to a special report published by the International Energy Agency.
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Mixed impact on steel producers from energy transition

The transition to low-carbon steel production, which is a strategic priority for major steel producers globally, will support their longer-term competitiveness given growing demand for low emission steel, according...
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EU carbon levy on primary aluminium will be ineffective and drive up prices

The implementation of a Carbon Border Adjustment Mechanism (CBAM) by the European Union (EU) on the primary aluminium market would impact European producers disproportionately and drive up prices...
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Surging rollout of EVs to accelerate demand for lithium

Across the globe, momentum is building to increase adoption of light-duty passenger electric vehicles (EVs) and make traditional vehicles — with an internal combustion engine — go the way of the horse and cart.
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Graphite, the mainstay of end-user inds like electronics, metallurgy & EVs

Graphite is a naturally occurring form of carbon that is used in a wide range of industrial applications, including in synthetic diamonds, EV Li-ion batteries, pencils, lubricants, and semiconductor substrates.
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Which technologies will enable a cleaner steel industry?

Decarbonizing the steel industry is a crucial challenge to overcome if the world is going to meet its climate goals. Steel production contributes around 11% of global carbon dioxide (CO2) emissions, making it one of the heaviest...
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JSW Steel selects SMS group for blast furnace technology at Dolvi works

JSW Steel Ltd., a leading steel manufacturer, has partnered with SMS Group for a ground-breaking project at their Dolvi Works facility in Maharashtra. The collaboration involves the construction of a state-of-the-art Blast Furnace...
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Domestic mining & construction equipt inds volumes likely

ICRA projects the volumes of the domestic MCE industry to decline in FY2025 following two consecutive years of strong growth viz. 26% in FY2023 and 24% in FY2024e. The reversal in this growth trend will be driven...
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FY25 Auto Outlook: Growth rate to moderate in personal mobility segments

While it’s an EU regulation, the Carbon Border Adjustment Mechanism (CBAM) aims to encourage decarbonisation at a global level. As the new rules will affect anyone who exports to the EU, it promises to have significant...
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SECO/WARWICK increases manufacturing capacity in India

SECO/WARWICK, one of the world’s largest global manufacturers of metal heat treatment equipment, has opened a new production hall in India. This is another step in implementing the global expansion strategy...
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Ametek India opens new facility to provide support across industries

AMETEK India Opens New Facility in Bengaluru, India (06 December 2022) – AMETEK India, a subsidiary of AMETEK Inc., is pleased to announce the inauguration of a new, state-of-the-art facility in Bengaluru that will...
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IMTMA honours their founding father Sir Dhanjishah Bomanji Cooper at IMTEX 2023

Indian Machine Tool Manufacturers' Association (IMTMA) which is the apex industry body for the machine tool sector in India hosted the 20th edition of IMTEX. IMTEX is South and Southeast Asia’s largest exhibition...
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Delhi to host Global Zinc Summit 2023

India’s leading zinc conference would bring top national and international industry experts to talk about the latest trends and opportunities for a number of global zinc applications. It will be held at Le Méridien New Delhi, India...
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Volvo and Eicher showcase future-ready mobility solutions aligned with vision of Smart Sustainability

VE Commercial Vehicles (A Volvo Group and Eicher Motors Joint Venture) unveiled a range of future ready mobility solutions from the Eicher and Volvo brands at Auto Expo 2023. Aligned with the Government’s vision...
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Kazakhstan, AIAI & WTC Mumbai to jointly promote bilateral trade

“Kazakhstan is going to organize a mega exhibition in the month of March 2023 to promote Indian products in the 11-country CIS region. The exhibition will promote Indian products across pharmaceuticals, engineering...
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Weak demand, Chinese dumping depress steel prices

Domestic steel makers in India are grappling with the twin challenges of sluggish local demand and increased pressure on exports due to a slowdown in the Chinese real estate market.
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India's April-May steel imports hit 5-yr high

India's finished steel imports reached a five-year high in the first two months of the fiscal year starting in April, according to provisional government data seen by Reuters. The country remained a net importer during...
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Cu prices to rise amid market turnaround, global demand surge

Copper, an essential metal for industries from wind turbines to electric grids, has seen a significant price surge recently. After a weak performance in 2023, the copper market is showing signs of recovery...
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India looks to boost coal output, cut imports amid record consumption

Amid a heatwave and reduced hydropower generation, India saw record-high coal consumption in the first quarter of this year. As the world's second-largest coal consumer, India plans to increase domestic coal production...
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Three challenges to overseas expansion for the Chinese cathode sector

With multiple factors putting adverse pressure on the domestic market, many Chinese producers of ternary (nickel-based) cathodes and precursors are looking to monetise excess capacity by investing overseas.
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Govt to focus on boosting renewables in energy mix

The Reserve Bank of India (RBI) has maintained steady rates since February 2023. This policy decision comes amid the US Federal Reserve's inaction on rate cuts so far this year. However, the RBI has revised its growth...
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IESA's white paper on sustainable future with renewables

The India Energy Storage Alliance (IESA) announced plans to publish a comprehensive "white paper" aimed at addressing key policy and regulatory challenges in electric vehicles (EVs), cleantech, green hydrogen...
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RBI's record dividend could boost govt spending

Sanjiv Puri, Chairman & Managing Director of ITC Ltd and President of CII, indicated that the Union government plans to increase its capital expenditure by 25% in FY25 compared to FY24, leveraging a windfall dividend...
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China's steel ind faces hurdles in joining emissions trading system

China's plan to introduce emissions trading for the steel industry in 2024 is facing significant obstacles. The Chinese government and the China Iron and Steel Association (CISA) are advocating for the sector's inclusion...
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'Global steel product exports rise 6.4% in 2023'

Global steel product exports, including ingots, semi-finished products, hot-rolled and cold-finished products, tubes, wire, and unworked castings and forgings, totaled 402.8 million mt in 2023, up 6.4% year on year...
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SAIL plans Rs 36,000 cr steel plant in Bengal

Steel Authority of India Ltd (SAIL), the public-sector steel giant, has unveiled plans for a cutting-edge steel plant at Burnpur, West Bengal, with an investment of Rs 36,000 crore.
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MECON invites bids for hydrogen projects

As part of the government's move to replace fossil fuels with green hydrogen in steel manufacturing, MECON Limited has invited proposals from prospective bidders for use of hydrogen in DRI pilot plant, in existing blast furnace...
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Outokumpu to expand use of robotics

Outokumpu, the global leader in sustainable stainless steel, started to utilize artificial intelligence and safety inspection robots a year ago to improve and digitize the company's facilities' health and safety monitoring.
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CASE India intros first skid steer loader for India market

CASE Construction Equipment, a CNH brand, has rolled out its Made-in-India Skid Steer Loader (SSL) for the domestic market from its state-of-the-art facility in Pithampur, Madhya Pradesh. The company announced...
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Abilities India to leverage patented tech to drive revenue growth

Abilities India Pistons & Rings Ltd. (Abilities India), a leading name in the manufacturing of pistons, piston rings, gravity casting, pressure die casting, and coatings, announces the grant of its SECOND patent...
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BME hosts seminar on BIS Certification & Quality Control Orders

The Bombay Metal Exchange Ltd. organized an informative seminar titled "Knowledge Session on BIS Certification / Copper & Aluminium Quality Control Order" at Marigold, Avadh Utopia, Vapi. The event, held on May 24, 2024...
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ING Think: Aluminium rally foiled

Research firn ING Think's report looks at the performance of iron ore, copper, aluminium and other industrial metals. In this month's edition, we take a closer look at aluminium and discuss where we see prices heading in the second half of the year
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Zn demand in India set to double in the next 5-10 yrs

The demand for zinc in India is expected to double over the next five to ten years, driven by substantial investments in the infrastructure sector, particularly in steel, according to the International Zinc Association.
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Tin surges amid supply curbs, strong demand

Tin prices have soared in recent years fueled by robust demand from the electronics sector amidst a supply deficit. In the second quarter of 2024, the metal reached a two-year peak, surpassing US$35,000 per metric tonne (MT).
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China no longer driver in commodities pricing

Goldman Sachs has revised its view on commodities pricing, stating that China is no longer the central driver. Instead, the pace of demand recovery in developed markets suggests that Western consumers...
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NALCO secures bauxite mines in Odisha

National Aluminium Company (NALCO) has finalized a Mining Lease deed with the Odisha State Government on June 13, 2024. The lease, covering 697.979 hectares in Pottangi Tehsil, Koraput District, is designated for Bauxite Mines.
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ADC12 Al ingot price sees slight decline

Spot price for ADC12 aluminium alloy ingots in Delhi NCR has decreased marginally to Rs 215,000 per tonne, marking a week-on-week decline as of June 13, 2024. Simultaneously, tense scrap prices have dropped...
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EuroBLECH 2024: The power of productivity

The global flagship event on sheet metal working is expecting a huge turnout this year. Spread over nine exhibition halls and covering more than 90,000 square metres, this year's event will be a unique opportunity...
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‘India to lead world in fuel demand growth’

India, the world's third biggest oil importer and consumer, will in the second half of the decade become the driver of global oil demand, the International Energy Agency (IEA) said Wednesday last, forecasting rise in consumption...
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IIP falls to 3-mth low of 5% in April

India's factory output growth, as measured by the Index of Industrial Production (IIP), fell to a three-month low of 5% in April as against 5.4% in March, due to a drop in manufacturing activity, data released by the National...
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WB ups India growth for FY25 to 6.6%

India will remain the fastest-growing of the world's largest economies although its pace of expansion is expected to moderate with a steady average annual growth of 6.7% between FY25 and FY27, the World Bank said ...
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Goyal reviews FTA progress

Piyush Goyal who took charge as the minister of commerce and Industry for the second term on Tuesday last reviewed the status of various free trade agreements that India is negotiating and the 100-day agenda...
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New govt unlikely to tweak trade policy

The new coalition government led by Prime Minister Modi is unlikely to bring about any major changes in the trade policy that is characterised by high tariff and non-tariff barriers on imports, bilateral trade negotiations...
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Statistics min sees no big revision of FY24 GDP

The statistics ministry doesn't expect to undertake any significant downward revision to the official economic growth estimate for FY24, and may disprove many analysts in this regard. It also sees the possibility of the gross...
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GDP to grow below 7% in FY25: Economists

India's Gross Domestic Product (GDP) may expand less than 7% in the current financial year due to external headwinds, statistical effect of a high base and technical factors, economists said. Recently, the Reserve Bank...
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