ShreeMetalPrices: According to Reports Glencore is Eyeing to Add Lithium to Trading Business
Mining and commodities Glencore is stated to be comparing the addition of lithium to the suite of metals it trades. The battery metal is in “hot demand in the growth production of electric powered vehicles (EVs)” and worries over continues supply. The Swiss company would initially add lithium to its zinc and copper business, run
ShreeMetalPrices: Global Recession most probably to Occur, World Bank Warns amidst Economic Slowdown
Interest rate hikes by central banks round the world may trigger a global recession in 2023 Interest rate hikes by central banks round the world may trigger a Global Recession in 2023 the World Bank has warned. Central banks have raised rates “with a degree of synchronism not seen over the past 5 decades” to tackle soaring values., World Bank media reports
ShreeMetalPrices: US Fed Rate Hike Effected Gold Prices to hit Two year Low
Gold prices teetered near their lowest level in more than two years on Friday, heading for their worst week in two months as prospects of aggressive US FED rate hikes pushed bond yields higher and bullion shine GMT fell 0.1% to $1,661.97. After hitting its lowest level since April 2020 at $1,658.30 . Prices are
ShreeMetalPrices: Investors expectations of Fed Rate Hike, Shanghai Non Ferrous metals closed mostly with Losses
Shanghai Nonferrous metals mostly ended lower as investors priced in expectations for a Interest rate hike. Some even expecting a 100 basis point hike on Sep 21 Fed meeting. Copper in Shanghai was down 0.55%, aluminum was up 0.21% and lead was down 0.76%. Zinc fell 1.83%, tin fell 0.72% and nickel 1.56%. COPPER The most
ShreeMetalPrices: EU strategy to Settle Energy Crisis Stumbles Short
Industry organizations have warned the European Union’s bundle of emergency measures to convey down power fees. It does now no longer cross some distance sufficient that they urge Brussels to do greater to tame fuel charges. The European Commission on Wednesday proposed cuts in energy use. Making use of windfall-income levies on power corporations. Which
ShreeMetalPrices: Retail sales, Industrial Production of China blow out expectations.
China’s industrial production and retail sales grew more-than-expected in August, data showed on Friday. Suggesting the recovery in certain areas of the economy remained resilient despite headwinds of new COVID-related restrictions. Data from the National Bureau Statistics showed that Chinese factory output rose 4.2% in August, up from 3.8% growth previous month. The value also
ShreeMetalPrice: Vedanta have decided to invest another 25000 crore to Expand its Aluminum, Ferrochrome and Mining Businesses in Odisha
Vedanta Resources, which has made the largest single investment in Odisha at Rs 80 crore, said on Wednesday. “It plans to allocate an additional Rs 25000 crore to expand its Aluminum Ferrochrome and mining businesses in the state“. According to a company statement, with this investment sum. Its activities (directly and indirectly) contribute almost four
ShreeMetalPrices: Growth in Oil demand persists to set back : IEA
Global oil demand growth continues to slow, weighed down by fresh lockdowns in China and an ongoing slowdown in the OECD, according to the International Energy Agency (IEA) in its latest monthly oil market report. However, this is partially offset by a large-scale shift from gas to oil, which is estimated to average 700,000 b/d
Shree Metal Prices: 100 basis points rate hike at this months Fed meeting.
On Tuesday, investors priced in expectations of a big. 100 basis point rate hike at the next Federal Reserve monetary policy meeting after August inflation numbers beat expectations. The CME FedWatch tool showed a 20 percent chance of a 100-point rate hike at the Sept. 20-21 session, after showing no chance for the past month.
ShreeMetalPrices: Opportunities Arise in Export markets as Steel Makers see Fall in Prices.
Indian producers will maximize the opportunities within the export markets against the scene of the continued energy crisis in Europe. Operation conditions for steel makers have deteriorated with an extra fall in steel costs and rising coking coal values. Domestic hot-rolled coil prices fell by Rs 700 per metric ton week-on-week to Rs 55,200 per