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Global crude steel output holds steady throughout 2023

The global crude steel production landscape of 2023 has been a testament to the industry’s resilience, navigating through economic challenges and uncertainties. Over the course of the year, the steel sector exhibited remarkable stability...
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China’s resolve to stabilize market confidence a crucial factor in price recovery of the metal

Despite a brief moment of hope in the base metals sector, the upcoming month didn’t unfold as expected. In the first half of the month, metal prices declined, with LME Aluminium dropping by nearly 5 percent...
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Electric Dreams: Forecasting red metal’s trajectory in the coming years

As the world moves towards electrification, renewable energy, and infrastructure development, the demand for copper, a crucial industrial metal, remains in the spotlight. In this article, we delve into the multifaceted landscape of copper...
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Galvanising metal’s growth hinges on various economic factors

Just like other metals, zinc also began 2024 on a higher note. However, the performance of zinc in 2023 reflects an unchanged picture from the previous year, as headwinds continued to cloud over the metal. The global zinc market faced...
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Market faces surplus, yet sustainable growth opportunities emerge

The global refined lead market is anticipated to transition from a small supply surplus in 2023 to a larger surplus in the current year, equivalent to 0.9% of annual demand. This shift is primarily attributed to increased Chinese production, paving.....
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Prices decline as Chinese electric vehicle sales fall

The crucial determinants of nickel prices, particularly in light of a significant 45% decline on the London Metal Exchange (LME) throughout 2023, hinge on the costs associated with the production of a low-grade product known as nickel...
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Complex regulatory landscape, green transition pose dual challenges

At the beginning of October 2023, LME tin exhibited stable trading, maintaining a price of $24,139 per tonne. Further, as per a report published by the IMARC Group, the global tin market attained a volume...
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Trends in the global equity, bond & currency markets to impact the white metal prices

The global silver market started the year 2024 on a negative note extending its December month decline on poor buying interest aided by slump in the gold market. Strength in the global equity market weighed on the commodity market...
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The yellow metal’s prices exhibit range-bound trend backed by Fed rate cut delay, unabated ME conflict

Gold prices exhibited a range-bound movement in January 2024, supported by factors such as comments by U.S. Fed officials indicating delay in Fed rate cut as against rise in Middle East conflicts.
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Steel sector cheer 11% rise in infra spending in Budget

The 11% surge in infrastructure spending announced in the budget has been welcomed by the steel sector. Indian Steel Association president Dilip Oommen stated that this increase will fuel robust domestic steel demand...
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Increased capex in Budget on infra to boost demand for metals & minerals

Minerals are precious natural resources that serve as essential raw materials for fundamental industries, so the growth of the mining industry is essential for the overall industrial development of a nation. The vast resources of numerous metallic...
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Global Cu smelting remains flat in August

Global copper smelting activity was largely flat in August, with a rebound in top refined producer China offset by weak readings elsewhere, data from satellite surveillance of metal processing plants showed.
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Secondary route of Cu production is key to conserving depleting primary ore source

Recycled copper scrap (secondary copper) contributes significantly to supply, and plays a behind-the-scenes role in balancing the copper market. “Copper’s recycling value is so great that premium-grade scrap normally has at least 95...
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Copper Market Dynamics: H1 2023 data unveils production surges and global challenges

Steel prices have been on a declining trend at the start of FY2024, as falling Chinese export offers pulled down domestic hot rolled coil (HRC) prices by 3.8% in the current quarter so far. Domestic rebar prices also witnessed...
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ICSG forecasts 2023-24 trends in Cu production, demand

The International Copper Study Group (ICSG) industry advisors from most of the world’s leading copper producing and using countries participated to discuss key issues affecting the global copper market. In the meeting of the Statistical...
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Aurubis and SMS group forge ahead with the first multimetal recycling plant in the US

Bundling know-how, fully exploiting synergies, and entering a new market: Multimetal producer and copper recycler Aurubis AG and Düsseldorf-based plant and machine manufacturer SMS group GmbH are expediting the development....
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Efficient mining with smart lubrication choices

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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Hindustan Copper well poised on a high growth trajectory

Hindustan Copper Limited (HCL) is a vertically integrated, multi-Unit, Central Public Sector Enterprise in the field of Copper Mining & Production with net turnover of Rs.1812 Crores in Financial Year 2021-22. Its activities include...
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India’s Al consumption to grow by 9% in FY2024, despite global headwinds

In a recent note on the Indian primary aluminium industry, ICRA has estimated the domestic aluminium demand growth to remain healthy at 9% in the next two fiscals, given the Government’s thrust on infrastructure development.
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India aims to nearly double coal production by FY30 with innovative strategies

India’s coal ministry has revealed an ambitious plan to nearly double the country’s coal production by fiscal 2030, targeting a compound annual growth rate (CAGR) of approximately 7.7%. In FY23, key coal-producing states...
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How re-skilling of coal mine workers will play a crucial role in India’s transition to renewable energy

India is consistently working at a global level to reduce emission intensity to attain the net-zero target for 2070. While India’s power sector is one of the most diversified ones in the world, thermal power generation by coal...
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Replacement demand to drive tyre volume up 6-8% this fiscal

Production volume of Indian tyre makers is set to rise 6-8% on-year to a new high of 2.7 million tonne in fiscal 2024, driven mainly by higher replacement demand, and steady demand from commercial vehicles (CVs)...
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Outlook for petrochemicals & basic chemicals sector revised to ‘Negative’

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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ERW steel pipe makers set for 10-12% revenue growth this fiscal

Revenue of electric resistance welded (ERW) steel pipes manufacturers will grow 10-12% this fiscal, owing to strong demand from the infrastructure, real estate, irrigation, and water supply and sanitation (WSS) sectors.
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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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Indian steel cos accelerates decarbonization efforts

Steel manufacturers are accelerating their de-carbonization plans as they actively embrace scalable and future-oriented technologies to reduce the industry's carbon footprint. Accounting for 12% of the country's...
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Govt promotes green hydrogen in steel, shipping

Steel and Port Ministries in India have unveiled guidelines to promote the adoption of hydrogen, with a scheme valued at Rs 570 crore aimed at advancing green steel and utilizing hydrogen as a maritime fuel.
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Global coal prices plummet in Jan 2024 amid low demand

Global coal prices plunged in January 2024 amid subdued demand and environmental shifts. Market conditions led to a downward correction as ample inventory disrupted the supply/demand equilibrium.
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Promising signs emerge for Cu, Ni, Zn, and Al prices

Iron ore exports constitute Australia's largest export, with projected exports reaching $113.4 billion in 2024, according to IBIS World research. Throughout 2023, iron ore maintained a crucial position around...
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Center cuts infra spending growth in Interim Budget FY25

India Ratings and Research (Ind-Ra) believes that the central government's moderation in growth of capital spend, while on expected lines, is likely to weigh on the revenue outlook of the EPC sector in FY25.
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ArcelorMittal forecasts 3-4 per cent global steel demand growth

ArcelorMittal, the world's second-largest steel producer, anticipates a 3-4% growth in global steel demand, excluding China, for the current year. The company expressed optimism about an improving industry landscape...
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Vibhor Steel Tubes expands operations with new unit in Odisha

Vibhor Steel Tubes Ltd (VSTL) is establishing a new manufacturing unit in Sundargarh, Odisha, aiming to enhance its total production capacity to 3.41 lakh tonne, as stated by a company representative last Wednesday.
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IEA urges priority on boosting demand for green hydrogen success

Keisuke Sadamori, Director of Energy Markets and Security at the International Energy Agency (IEA), emphasized the crucial need for countries to prioritize scaling up demand for green or clean hydrogen.
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SAIL to spend Rs 20k-24k cr for WB Steel Plant

SAIL's IISCO steel plant is contemplating an investment ranging from Rs 20,000-24,000 crore to establish a four-million-tonne greenfield steel facility at its Burnpur site in West Bengal, focusing on the production...
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Govt allots Rs 455 cr for green projects in steel

The Indian government has earmarked Rs 455 crore of Central Financial Assistance for green hydrogen pilot projects in the steel industry, extending until the financial year 2029-30. The Ministry of New and Renewable Energy...
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Tata Steel amalgates five businesses

Tata Steel Ltd has successfully amalgamated five of its nine strategic businesses, signaling progress in its long-term strategy to streamline its business portfolio. The integrated companies include Tata Steel Mining Ltd,
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SANY India exhibits at India Stone Mart 2024

SANY India, one of the leading manufacturers of construction equipment, participated in the 12th edition of India Stone Mart 2024, held in Jaipur, Rajasthan. Under the theme 'Stone for Sustainability,' this prestigious...
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CIL appoints Mukesh Agrawal as director of finance

The state-owned Coal India Ltd appointed Mukesh Agrawal as its new director for its finance division with effect from February 8, 2024, for a term of five years. "CIL looks forward to Mr. Agrawal's financial acumen, especially with his experience...
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India to pip China as world's largest source of oil demand

India will overtake China as the biggest consumer of global oil demand in 2027 as transportation and industry consumption in the world's fastest-growing major economy will drive growth despite a big push for clean...
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'Metal prices to ease with slowing economic activity in major economies'

The World Bank's Metals and Minerals Price Index experienced a slight decrease of 0.13 percent in 2023Q4 (q/q), continuing steady declines that began in early 2022. This decline is attributed to slowing economic activity...
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Geopolitics and politics re-emerges as top risks for commodities in 2024

ddle East and Ukraine, upcoming elections in many countries and rising regulatory uncertainty for natural resources in some jurisdictions have renewed the focus on geopolitical and political...
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'Hindustan Copper erred in awarding Cu ore tailings beneficiation project'

The Central Public Sector Undertakings (CPSUs) cannot be left totally independent in making important decisions involving investments of large scale, as per the observations made in the Parliamentary Committee on Public...
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EGA to supply alumina for specialty products

Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, signed an agreement to supply alumina to The Alumina Industrial Company, enabling the development of a new industry...
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Adani secures ore for $1.2 bn Cu smelter in Guj

Billionaire Gautam Adani's conglomerate has finalized contracts to procure 1.6 million tons of copper concentrate annually for the world's largest single-location smelter in Mundra, Gujarat. The initial 500,000 tons of capacity at the $1.2 billion...
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Hindalco acquires 26% stake in Ayana Renewable

Hindalco Industries has purchased a 26% stake in Ayana Renewable Power Four, a renewable energy company, for 1.62 crore rupees. The move is aimed at supplying Hindalco's smelter in Odisha with a consistent 100 MW of energy.
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US solar boom raises banned Chinese imports in India

The surge in the US solar industry has inadvertently provided a gateway for the entry of Chinese products, potentially linked to forced labor, into India. An investigation by Bloomberg News reveals that Waaree Energies Ltd., India's largest...
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Growth market Türkiye: The Bright World of Metals expands global network to include ANKIROS/TURKCAST and ALUEXPO

The Messe Düsseldorf Group expands its global network in the growth market Türkiye winning over three powerful new events for its global metal trade fair portfolio with the leading Eurasian metallurgy, foundry and aluminium trade fairs..
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RBI keeps repo rate steady at 6.5%

The RBI yet again decided to keep the repo rate steady at 6.5% signalling stability, creating an environment that supports economic growth and investment. Most experts believe tht the alignment between the RBI's stance and the current...
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Animal spirit back in economy: CEA

Chief Economic Adviser (CEA) V Anantha Nageswaran has said the animal spirit is back in the Indian economy and has reflected in the visible pick up in private sector investment. "It has come back. Otherwise, how Indian economy can grow at 7 per cent.
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FTA with India by year-end: Sri Lanka FM

Sri Lanka Tuesday last said it has plans to establish a free trade agreement with India by the end of 2024, Foreign Minister Ali Sabry said as the cash-strapped island nation tries to spur economic growth. Similar Free Trade Agreements (FTAs)
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OECD ups India's GDP growth forecast a bit

The Organization for Economic Co-operation and Development (OECD), in its latest interim economic outlook released Monday last, raised India's growth outlook for 2024-25 (FY25) to 6.2 per cent from the 6.1 per cent estimated earlier...
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Services PMI rises to 6-mth high of 61.8 in Jan

India's services expanded sharply in January on account of buoyant domestic and external demand conditions. The HSBC India Services Purchasing Managers' Index (PMI) rose to a six-month high of 61.8 in January from 59.0...
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India-ME-Europe Corridor a game changer

The 6th budget under FM Nirmala Sitharaman underlined the importance of India Middle East Europe Corridor (IMEC) to revolutionise commerce and strengthen cultural and diplomatic ties between the member states.
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