Metal Scrap Crucial for Green Steel Production, Drives Demand in Mexico
Metal scrap has become a vital raw material due to climate change, not just in Mexico but worldwide for the manufacture of green steel. 11,376 establishments in Mexico are devote to the purchase or collection of the product. Some reports state that Mexico uses 12.5 million metric tonnes of ferrous scrap annually, of which slightly […]
Ukraine’s Ferrous Metal Exports Surge
Ukraine’s steel companies saw a 16.6% year-over-year increase in revenue from ferrous metal exports from January to April of this year, totaling $959.76 million. Interfax-Ukraine reports that the State Customs Service is in charge of this. In the four months that ended in April 2023. Ferrous metals brought in 7.14% of the total revenue from […]
Oil Prices Slide Amid Weak PMI Readings and Supply Concerns
Oil prices faced a slight decline in Asian trade on Thursday, influenced by a series of weak Purchasing Managers’ Index (PMI) readings that raised concerns about sluggish economic growth. The market also grappled with increased U.S. oil production and exports. Indicating that supply might not be as constrained as initially anticipated. The Energy Information Administration […]
Indian Government Delays Import Curbs on Laptops and Computers until October 31
The Union commerce ministry has decided to defer the implementation of recently announced import restrictions on laptops, personal computers (PC), tablets, and related items until October 31. In a notification issued on August 4. The Directorate General of Foreign Trade (DGFT) stated that import consignments can be cleared without a license for restricted imports until […]
Ukraine Strike Russian Navy Ship Near Novorossiysk Oil Port
Drone Attack Damages Russian Navy Vessel Amid Rising Tensions In a significant escalation of hostilities, Ukrainian security services and navy reportedly carried out a drone strike on a Russian Navy ship outside the oil export port of Novorossiysk on the Black Sea. Ukraine claims that the Russian Navy landing ship, Olenegorsky Gornyak, was damaged in […]
HINDALCO DECREASES ALUMINIUM PRICES BY Rs. 2,250/-
Hindalco Aluminium Decreases it’s Product Prices By INR 2,250/-MT on 04-Aug-2023 Hindalco Aluminium Ingot Prices Decreases By INR 2,250/-MT today which comes at INR 210750-MT. Hindalco Aluminium Alloy Wire Rod Prices Decreases By INR 2,250/-MT today which comes at INR 222750/-MT. Hindalco Aluminium Billet Prices Decreases By INR 2,250/-MT today which comes at INR 224850/-MT […]
China Boosts Investments in Critical Minerals Amidst Escalating Tech War and Advancing Energy Transition
As tensions rise in the technology war between China and the West, China is strategically increasing investments in critical minerals abroad through its Belt and Road Initiative (BRI). The aim is to secure a steady supply of raw materials essential for the production of batteries and solar panels. While the US and the EU are […]
India’s Semiconductor Industry Gains Momentum with $2.5 Billion Micron Project, Backed by Government Subsidies
India’s semiconductor sector is making strides with the implementation of the $2.5 billion Micron project, marking a significant step in Indo-US technological collaborations. To attract further investments, the government is offering a 50% subsidy for ventures in the semiconductor value chain. In the case of Micron, the project’s cost will be covered by 70% through […]
Tesla and Indian Commerce Minister Discuss Plans for Low-Cost EV Factory in Closed-Door Meeting
India’s Commerce Minister, Piyush Goyal, held a private meeting with senior executives from Tesla last week to discuss the carmaker’s intentions to establish a manufacturing plant in the country. Tesla aims to produce a low-cost electric vehicle (EV) priced at $24,000, targeting both the Indian market and export. The meeting, which took place in a […]
Aluminium Prices Inch Up on China’s Favorable Policies Driving Real Estate and Automobile Growth
Aluminium prices edged up 0.88% to 201.7 yesterday, boosted by China’s favorable policies driving growth in real estate, automobile, and related consumption. However, concerns arise as aluminium production in Yunnan is accelerating. And some large smelters are expect to reach full capacity by end of August. Potentially leading to a record domestic operating capacity. Currently, […]