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Elevated input costs hurting for Asian steelmakers

The year started off on a bullish note for steel-making raw materials while the prices of finished products failed to exit the bear camp, casting a shadow on the margins of Asian steel mills, as per a report...
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The white metal slides as inventories swell

As indicated from the base metals’ performance during the first month of 2023 and just as we were hoping we might be seeing a revival in the base metal prices, the metals pack ended significantly...
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Strong demand keeps copper afloat amidst increased uncertainties

The global copper market is experiencing tough weather amidst increased geo-political turmoil involving almost all the major consuming countries. The intensification of the Russia-Ukraine conflict by increased involvement...
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Global Zn market deficit climbs to 100,500 T in Dec

The global zinc market deficit rose to 100,500 tonne in December from a revised deficit of 66,900 tonne a month earlier, data from the International Lead and Zinc Study Group (ILZSG) showed.
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Global lead market swings to deficit of 6,100 t in Dec

The global lead market flipped to a deficit of 6,100 tonne in December from a revised surplus of 9,200 tonne the previous month, data from the International Lead and Zinc Study Group (ILZSG) showed.
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Russia’s move to limit exports of the lustrous metal could impact its prices

Nickel prices traded low during the month of June shedding losses of approximately 19% at LME tracing the US Central Bank’s decision to stem inflation. LME prices traded at 5 months low during June.
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Soldering metal prices to rise on tight supply

Tin will be the metal most impacted by the rise of new technologies, such as electric vehicles, robotics and renewable energy, ahead of lithium, cobalt and silver, according to a study by the Massachusetts...
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A sharp rise in dollar index led to a fall in the white metal prices

The white precious metal—silver—showcased a sharp decline in February 2023 tracking weakness in the gold and base metals market. A sharp recovery in the global bond and currency market weighed on the precious metals market including silver.
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The yellow metal's prices fall over hawkish Fed chief's remark, strenthening dollar

Gold prices largely moved down through the month on strong dollar and on expectations that the U.S. Fed would continue to raise interest rates in their combat against inflation.
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Budget focus on infra & enhanced investment in railways to spur demand for wire & cable

Wire & cable is the backbone of the much-hyped electrical and electronics industry. The wires and cables are the channels that transmit power and data. The government’s initiatives to propel the domestic manufacturing sector and infrastructure...
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Wires & cables market projected to grow at CAGR of 4.2% from 2023 to 2030

The global wires and cables market size was estimated at USD 202.05 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030, as per Grand View Research. Rising urbanization and growing infrastructure...
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Steel industry facing challenges as borrowing levels rise and earnings moderate

Domestic steel companies face a bumpier road ahead as the external environment becomes more challenging due to elevated inflation/ energy prices and rising interest rates. In Q2 FY2023, the industry’s absolute earnings plummeted...
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1st qtr 2023 could be very difficult for global long products market

Raw material costs are increasing once again and energy prices are expected to be very high at least until March 2023. Mills are facing cost pressures once more in the global long steel products market. Business activity has been reduced...
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Steel export demand to remain subdued due to global slowdown

Steel export demand is expected to “remain subdued” because of a global slowdown, the Economic Survey 2022-23 said. However, the Centre’s thrust on infrastructure projects, pick-up in construction activities and real estate demand...
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Steel exports to major markets decline in April-Dec period

India's steel exports to all of its major foreign markets, including Vietnam, Italy, the United Arab Emirates, and Belgium, decreased by 40 to 60% between April and December, showing sustained recessionary pressure...
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India gearing up to produce more coal to meet future demand

The global transition from blast furnace/basic oxygen furnace (BOF) steelmaking to scrap-fed electric arc furnace (EAF) is progressing slowly, with China and India remaining heavily reliant on BOF technology, according...
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Rapid renewable expansion driving down gas, coal generation in coming years: EIA

The rapid expansion of renewables in the US electricity generation mix, driven by declining construction costs and favourable tax credits, will reduce coal-fired and natural gas-fired generation over the next two years...
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Restructuring of iron & steel industry is bound to give a new scenario to steel sector

Opening up of Indian economy to global markets in Mineral industry has set new levels of mineral targets to be scaled by the Indian Mining and Mineral industries. India has a lot of high-quality iron ores. Magnetite is the purest iron ore, with a heavy...
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Prices of iron ore likely to rise

Exports of iron ore out of India are likely to remain low as the world’s fourth-largest producer reserves more of the commodity for its own use, said commodity intelligence service Kpler. “Indian iron ore exports … have really come...
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Copper demand back on growth track in FY22

Supported by strong policy reforms across sectors, the post-pandemic demand for copper is back on the growth track in FY22 registering a YoY growth of over 27.5 percent in India. The demand for the red metal stood at 12.5 lakh tonne...
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Aluminium capex to triple over next 5 fiscals on strong demand

With demand for robots growing as companies in multiple sectors look for new ways to enhance their productivity and competitiveness post-pandemic, ABB has compiled a set of growth predictions, looking at key trends driving...
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Automotive sector growth to be moderate in near-to-medium term

The domestic automotive industry saw a healthy revival in FY2023, aided by a recovery in economic activities and increased mobility. The demand sentiments for a majority of the automotive segments, the passenger and commercial....
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India’s shifting automotive procurement mandate

Strategic sourcing will separate leaders from laggards in India’s automotive industry. Several factors are driving this new reality, including the COVID-19 crisis, which disrupted supply chains. Since the first lockdown, Indian manufacturing...
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Decarbonization challenge for steel

Steel is one of the core pillars of today’s society and, as one of the most important engineering and construction materials, it is present in many aspects of our lives. However, the industry now needs to cope with pressure to reduce its carbon...
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Africa – mining by the numbers, 2022

Currency volatility, policy revisions, agreement cancellation and deteriorating infrastructures are some of the risks facing investors in Africa. But investor interest is getting stronger with the green energy transition at full steam and turmoil..
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Outlining the roadmap for a sustainable future thru clean fuel & energy solutions

Madhya Pradesh witnessed its first “Green Summit” which saw both public policy makers and industry leaders come together on the same platform to discuss, share ideas, and focus on innovation to build green future through sustainable...
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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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‘Govt may introduce PLI 2.0 for specialty steel’

The government is looking to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyotiraditya Scindia said Friday last.
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RINL short on critical steel making raw materials

Rashtriya Ispat Nigam Ltd (RINL), the country's second largest steel-making PSU, is facing a shortage of key raw materials - like iron ore and coking coal - that has impacted its production ramp up plans.
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Moody's upgrade global metals & mining outlook to stable

Moody's Investors Service has changed its global Metals & Mining outlook to stable from negative as business conditions have modestly improved in the US and Europe and China’s reopening of the economy...
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EU ferrochrome prices for Q2 2023 seen rising

The benchmark prices for EU ferrochrome are rising significantly. The key stainless steel raw material saw increases in price by more than 15% for Q2 2023. The European benchmark prices for ferrochrome for the second quarter of 2023 have...
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Iron ore prices take a hit on weak demand amid surge in Platts-observed spot activity: 2022 Review

Lackluster steel demand and mill margin woes saw buying interest take a hit and iron ore prices hampered in 2022, and the volume of spot activity observed by Platts both on the Market on Close assessment...
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'Use hydropower units optimally at peak hours'

The power ministry has asked states to operate hydropower plants optimally at peaking hours in April and May to help support demand and maintain grid stability. Power minister RK Singh held a meeting with states last Thursday to assess...
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Govt to miss divestment target as HZL sale delayed

The sale of the remaining 29.54 per cent government stake in Hindustan Zinc is likely only after a finality is reached on Vedanta's planned sale of global zinc assets to the erstwhile PSU, according to an official.
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Railways to become net-zero carbon emitter

The year started off on a bullish note for steel-making raw materials while the prices of finished products failed to exit the bear camp, casting a shadow on the margins of Asian steel mills. "[Our] margins are squeezing. The current situation does not make..
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APL Apollo launches next-gen steel building solutions

APL Apollo Tubes Ltd., one of the largest producers of Structural Steel Tubes, launched their next-gen Steel Building Solutions today to ensure better & faster construction. APL Apollo, along with India's leading institute of structural...
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JSW Steel may spend Rs 2,000 cr in virgin coking coal mine

Steel major JSW Steel is looking to invest Rs 2,000 crore to develop a virgin coking coal mine in Jharkhand. The company has been declared the highest bidder for the coking coal mine put on auction recently and it is waiting...
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Hybrid energy project likely to start by 2024: Jindal Stainless

The 300 MW hybrid project in partnership with ReNew is expected to commence operation in the next 18 months, Jindal Stainless Managing Director Abhyuday Jindal has said. In December 2022, Jindal Stainless Ltd (JSL)
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Alleima commissions new factory at Mehsana

Alleima AB, Swedish advanced stainless steels, special alloys, and heating systems maker, has inaugurated its new hydraulic and instrumentation tubing factory on March 15, 2023, at Mehsana in Gujarat.
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A. Mukherjee takes addl charge as NMDC CMD

State-run NMDC said its Director (Finance) Amitava Mukherjee has taken the additional charge as its Chairman-Cum-Managing Director. Mukherjee, a 1995-batch Indian Railway Accounts Service (IRAS) officer,
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Kobelco to establish H2-run steel plant

Japan-based steel mill Kobe Steel (Kobelco) has partnered with Luxembourg-based engineering firm Paul Wurth to develop a green steel production facility for German steel producer Thyssenkrupp, expecting to start...
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Iron ore mining hit at Godawari Power, Ispat

The collapse of an overburden dump at the pellet producer Godawari Power and Ispat's 2.35mn t/yr Ari Dongri mine has partially hit iron ore mining operations there. There will be no impact on iron ore pellet production...
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China to cut steel output to rein in Co2 emission

China will again cut annual crude steel production in 2023, according to a person familiar with the decision, marking the third year in a row that the government has mandated reduced output in order to rein in carbon...
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CNH Industrial takes controlling stake in Bennamann

CNH Industrial is expanding its alternative fuel capabilities by taking a majority stake in Bennamann - a UK-based expert in solutions to capture, repurpose and store fugitive methane emissions for energy use.
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101 projects worth Rs 60,872 cr identified under Ports & Shipping

As the demand for batteries increases with electric vehicle sales on the rise, so does the demand for transparency within the battery supply chain, while the industry also deals with permitting uncertainty, energy experts...
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BASF at PU TECH 2023: Accelerating innovations for green journey

At PU TECH 2023, BASF demonstrated how it is accelerating innovations for the green journey with various polyurethane solutions to enable greater sustainability in the automotive, consumer, construction...
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'Bullet train by August 2026, hyperloop 7-8 years away'

Railways Minister Ashwini Vaishnaw said that the bullet train project might be ready by August 2026. However, he said that the hyperloop technology is still 7-8 years away.
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Infra projects along border with China on 'top priority' for govt

The government is intensifying the pace of all pending infrastructure projects on "top priority" along the northern border areas. The moves come following a high-level meeting chaired by Defence Minister Rajnath Singh...
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Local primary Al mfg cos are behind the curve in transition to greener future: ICRA

ICRA highlighted that domestic aluminium manufacturers have the highest carbon intensity of nearly 17-20t CO2e/tonne of aluminium, owing to the significant use of coal in generating captive power, and would...
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Vedanta Resources repays loans taken from Barclays Bank, Standard Chartered

Natural Resources major Vedanta Resources Wednesday last said that it has fully repaid $250 million in loans it had taken from Barclays Bank and Standard Chartered Bank. Vedanta Resources, parent of Vedanta Ltd, repaid $150 million borrowed...
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China January-February aluminium production up 7.5% as demand hopes rise

China's aluminium production rose 7.5 per cent in the first two months of 2023, official data showed Wednesday last, after the end of strict COVID-19 controls improved the economic outlook and lifted demand expectations.
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GMDC bags two coal mines in Odisha

Gujarat Mineral Development Corporation (GMDC), one of the leading mining PSU enterprise and the largest lignite seller in the country, have announced that it had emerged as the highest bidder for two coal mines in Odisha in the recently...
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Glencore to not renew Al deal with Rusal

Glencore will not renew a $16 billion deal to buy aluminium from Russia's largest producer United Co Rusal International when it expires next year, Bloomberg News reported Thursday last, quoting Chief Executive Officer Gary Nagle.
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India, Russia review trade ties

External Affairs Minister S Jaishankar Monday last held a virtual meeting with Russian Deputy Prime Minister Denis Manturov in a bid to give a fresh push to trade and investments. Manturov, who is also the Minister...
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US factory orders fall in January

New orders for U.S.-manufactured goods fell in January, pulled down by a plunge in civilian aircraft bookings, but increases in machinery and a range of other products suggested that manufacturing could be regaining...
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India-UK FTA talks covered 11 areas

The seventh round of India-UK free trade agreement (FTA) talks concluded following technical discussions across 11 policy areas over 43 separate sessions between negotiators from both sides here last month, the British...
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China's trade contracts again in Jan, Feb

China's trade contracted again in January and February as US and European demand weakened in the face of interest rate hikes, adding to pressure on official efforts to revive economic growth following the end of anti-virus...
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