Domestic industry poised for significant growth amid global challenges
India is a bright spot amidst a gloomy global scenario as far as steel demand is concerned, says Union Steel Secretary, Nagendra Nath Sinha. The steel sector achieved its highest levels of production and consumption during FY24..
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Oversupply in the market, with no matching demand, hammers white metal’s prices down
Aluminium, a lightweight and versatile metal, plays a crucial role in modern industries such as construction, transportation, and packaging. Recently, the aluminium market has experienced significant fluctuations...
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Red metal soars: Fundamentals behind the demand surge
Copper, a key component in renewable energy technologies, is experiencing a surge in demand due to factors such as the transition towards renewable energy, the rise of electric vehicles (EVs), and advancements...
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The alloying metals prices take a tumble on slowdown in China
Zinc, a critical metal in various industries, has not been immune to the recent downturn in the commodities market, experiencing a significant double-digit decline over the past month. Ranking as the second...
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Global market for battery material sees diverging trends: LME and ShFE prices reflect inventory disparities
The International Lead and Zinc Study Group (ILZSG) released preliminary data on the global lead market for early 2024. World refined lead metal supply exceeded demand by 7,000 tonne, with total stock levels...
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Beyond 2024, prices to increase steadily to 2028
MI, a unit of Fitch Solutions, has maintained its nickel price forecast for 2024 at $18,000 per tonne due to ongoing excess supply, which continues to depress prices from their 2022 levels, according to the analytics...
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Soldering metal market forecast to reach $7.52 bn by 2030
The tin market is projected to grow to $7.52 billion by 2030, with a compound annual growth rate (CAGR) of 5.26%, according to a report by research firm 360iResearch. This growth is driven by various factors, including....
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Prices surge amid economic uncertainty, testing key resistance levels
At the beginning of August 2024, spot silver experienced a notable rally, gaining over 4% in two days leading up to the Federal Open Market Committee (FOMC) meeting, which concluded on July 31. This increase was fueled...
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Prices swing with US Fed rate cut hopes, Indian import duty changes in July
While increasing hopes of an early U.S. Fed rate cut helped a steady rise in gold prices in the first half of the month; significant cut in Indian import duties pulled down domestic gold prices later.
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Customs duty cuts on critical minerals & minor metals to boost high-tech sectors
In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced significant changes to customs duties on critical minerals, which include many minor metals. customs duty exemption on 25 critical...
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How to conserve the bauxite resources?
With the decreasing bauxite resources in the country, it is necessary to conserve the available deposits through planning and systematic evaluation to optimize the resources and grades. It is necessary to understand...
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India to take decisive steps to achieve sustainability goals; duty on aluminium scrap should be zero: MRAI
The Indian aluminium industry is strategically well placed in the world with discernible growth plans and prospects for the future. India is the world’s second biggest aluminium producer and third biggest consumer...
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Royalty on mining rights is not a tax
A landmark judgment delivered by a nine-judge constitution bench headed by Chief Justice of India D.Y. Chandrachud on July 25, with an 8:1 majority, declared that state legislatures have the power to tax mining lands and quarries without...
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DGTR proposes up to $577/t duty on Al frames for solar panels from China
The Directorate General of Trade Remedies (DGTR) has proposed the imposition of an anti-dumping duty of up to $577 per tonne on aluminium frames for solar panels imported from China. This recommendation follows an extensive....
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Driving sustainability and innovation in the aluminium industry
Aluminium, a cornerstone of modern industry, plays a vital role in various sectors. Of late, as the industry faces mounting environmental and sustainability challenges, it becomes imperative to explore how leading companies are navigating...
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India’s ambitious infra projects to spur demand for secondary aluminium
The term ‘secondary aluminium’ refers to aluminium that is produced from recycled aluminium originating from various forms of aluminium scrap including new production off-cuts, machining swarf, drosses or obsolete end-of-life aluminium products.
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Indian primary aluminium inds evolving for a bright future
The primary aluminium market is an evolving landscape offering significant opportunities for businesses and investors and the challenges it has to cope up with though. The primary aluminium market has shown remarkable growth...
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Aluminium bauxite mining in India: Current scenario, challenges, and future prospects
Aluminum is a versatile metal extensively used across various industries, from aerospace and automotive to construction and packaging. The primary source of aluminum is bauxite, an ore that contains a significant...
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Indian aluminium extrusion market set to soar to $2.5 bn by 2027
A report by Allied Market Research indicates that the Indian aluminium extrusion market generated $1.3 billion in 2019 and is projected to reach $2.5 billion by 2027, with a CAGR of 8.3% from 2020 to 2027.
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Aluminium industry reports decline in greenhouse gas emissions
New data from the International Aluminium Institute (IAI) reveals that, for the first time, total greenhouse gas emissions from the global aluminium sector did not grow, even though aluminium production grew.
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Hindalco well geared to meet country’s varied aluminium needs
Hindalco Industries Limited is the metals flagship company of Aditya Birla Group. A $26 billion metals powerhouse, Hindalco is the world’s largest aluminium company by revenues, and a major player in copper.
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ITI-1600 high-precision thickness gage
Ultrasonic thickness gauges are designed to improve safety and ensure reliability of material subject to corrosion or erosion. Corrosion gauges with their dual-element transducers are the primary inspection...
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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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FY2025 domestic steel consumption growth expected to remain at 9-10%
Rating agency ICRA projects the domestic steel consumption growth at a healthy 9-10% in FY2025. Demand was robust in Q1 FY2025, with consumption growing at a rate of 15% on a YoY basis amidst competitively...
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Fitch raises price forecast for gold & copper
Fitch Ratings has revised its forecasts for key metals and mining products. The agency increased its price assumptions for gold and coking coal due to geopolitical factors and tight long-term supply, respectively.
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Coal production grows 6.36% in April-Aug 2024
India's coal production reached 384.07 million tonne (MT) during April-August 2024, marking a 6.36% increase from 361.11 MT in the same period last year, the government reported Tuesday last.
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Grey area: Can steel really go green?
As a major contributor to overall global emissions, steelmaking must significantly lower its carbon footprint to make the transition to a net-zero world possible. But can such a hard-to-abate sector really go green...
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Govt calls mineral royalty ruling a mistake
The Centre has filed a review petition challenging the Supreme Court's decision that upheld the states' authority to levy royalty on mineral-bearing land. The government argues that the ruling overlooked the broader...
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Coal Min reviews progress of 71 auctioned mines
The Ministry of Coal, led by Additional Secretary Rupinder Brar, held a meeting to review the progress of 71 auctioned coal mines across nine states, including Chhattisgarh, Jharkhand, Odisha, and West Bengal.
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Nickel prices to rise steadily beyond 2024
BMI, a unit of Fitch Solutions, has maintained its nickel price forecast for 2024 at $18,000 per tonne due to ongoing excess supply, which continues to depress prices from their 2022 levels, according to the analytics...
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JSW gets MUFG funding to buy Aussie mine
JSW Steel Ltd has enlisted the support of Japanese financial institution MUFG Group to fund its acquisition of an Australian coking coal mining company, according to sources familiar with the matter. This move is particularly...
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Steel cos to cut output on rising production costs
Steel companies in India are grappling with the prospect of cutting production due to a confluence of factors: rising inventory levels, sluggish demand, escalating production costs, and a surge in cheap imports from China...
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Rama Steel in tie-up with Onix Renewables
Rama Steel Tubes (RSTL) announced a strategic collaboration with Onix Renewable. This partnership will focus on leveraging the expertise of Rama Steel Tubes to provide steel structures along with single-axis trackers
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Nippon pledges American leadership for US Steel
Nippon Steel has committed to ensuring that US Steel will be led by Americans if its $14.9 billion acquisition bid for the company is approved. This pledge follows remarks by Vice President Kamala Harris, who emphasized....
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Oilmax Energy in MoU with IIT B'bay for R&D in energy, mining etc
Oilmax Energy Private Limited, one of the leading Mumbai-based oil and gas companies, signed a (MoU) with IIT Bombay to collaborate on research and development (R&D) in petroleum, mining, industrial, and green...
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Mukand launches advanced 16 TPH boiler to drive future growth
Mukand Limited, one of the leading names in the steel and engineering industry, inaugurated its state-of-the-art 16 TPH boiler at its facility recently. This new installation marks a significant upgrade from the existing...
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ISA to launch $100 million solar fund and insurance mechanism
The International Solar Alliance (ISA) is set to unveil a $100 million fund, known as the Global Solar Facility, designed to stimulate up to $1.5 billion in investment for decentralized solar power projects across Africa's...
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Govt studies feasibility of transporting green hydrogen via pipelines
The Central Electricity Authority (CEA), in partnership with state-owned energy and power firms including GAIL, IOCL, and NTPC, is conducting a feasibility study to evaluate the cost and viability of transporting green...
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London Metal Exchange progresses market structure evolution to enhance liquidity
The London Metal Exchange (LME) has issued a white paper setting out a package of measures designed to modernise the LME's market structure, boost transparency and increase price competition, while protecting...
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China expands non-ferrous metals options amidst global market uncertainty
In a significant development for China's financial markets, options for four key non-ferrous metals - lead, nickel, tin, and aluminium oxide-were officially listed on the Shanghai Futures Exchange last Monday.
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Anti-dumping duty likely on China Al foil imports
The Ministry of Commerce and Industry has recommended the imposition of an anti-dumping duty on aluminium foil imports from China. This move follows a surge in Chinese shipments, which have captured nearly a third of India's...
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Vedanta Board okays third interim dividend
Vedanta's board has approved a third interim dividend of Rs 20 per equity share for the financial year 2024-25, amounting to a total payout of Rs 7,821 crore. The record date for the dividend is set for September 10, 2024.
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Inter Foundry 2024: A platform for the future of the foundry industry
US-based aluminium associations, including the Aluminium Association and the Aluminium Extruders Council (AEC), have expressed support for President Joe Biden's decision to impose a 10% tariff on aluminium imports..
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Global miners will continue to gain from above mid-cycle prices in 2024
Global miners with exposure to copper, iron ore and met coal will continue to benefit from above mid-cycle prices in 2024, according to Fitch Ratings. Met coal and iron ore prices are expected to moderate, however, due to fading...
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Exports dip 1.5%, trade deficit soars in July
India's merchandise trade deficit rose to the highest level in nine months in July on the back of high crude imports and a contraction in overall goods exports after three straight months of positive growth. Exports contracted 1.47%...
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India can be a $55 trl eco by 2047: IMF aide
India could potentially grow into a $55 trillion economy by 2047 if both state and central governments are diligent in enacting policies that elevate the nation's growth rate from its historical average of 7 per cent to 8 per cent...
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UK eco records strong growth in Q2
Britain's economy recorded a second quarter of strong growth as it recovered from last year's shallow recession but it lost momentum as it entered the second half of 2024, suggesting the Bank of England remains...
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Property slump drags down China's economy
A continued property crisis and weak consumption dragged on China's economic recovery in July, according to data released Thursday by the National Bureau of Statistics. Unemployment rose for the first time...
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PwC India head: India can be 1 trl eco by '29
Sanjeev Krishan, Chairperson, PwC India said "It's possible to reach $1 trillion mechandise exports by FY29. The seeds have already been sown. Energy, semiconductors, EVs, battery storage…all structures are in place.
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IIP growth eases to 5-mth low of 4.2% in June
India's factory output growth, as measured by the Index of Industrial Production (IIP), moderated to a five-month low of 4.2% in June from 6.2% in May, primarily due to slower growth in manufacturing activity, official data...
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