ShreeMetalPrices: World Bank projects global recession in 2023 “Economy still Fragile”
This January 10 news has been revised to reflect that the 2023 euro zone GDP forecast now appears as flat rather than growing by 0.5%.The effect of central bank interest rate rises is getting worst when. Russia’s war with Ukraine is still going on, and the world’s biggest economic drivers are stalling. So the World […]
ShreeMetalPrices: Goldman Sachs; Forecasts “No more Recession” in Euro-Zone
Goldman Sachs stated on Tuesday that it predicts the euro zone economy to expand by 0.6% this year. Up from its previous projection of a contraction. Due to lower natural gas costs and also the reopening of China’s borders.In a report, Goldman Sachs economists under the direction of Sven Jari Stehn stated, “We no longer […]
ShreeMetalPrices: Copper Prices Regain; Reaches a 6-Month High – China’s opens its border
The copper prices went up to the more then 6 month high on Monday on demand forecasts improved following China’s reopening of its borders. On Comex exchange in New York, copper on delivery for March increased by 3%, reaching $4.03 a pound or $8,866 per metric ton. At $8,710 earlier in the day, 3-Month copper […]
ShreeMetalPrices: KABIL India to sign contracts in Argentina for two lithium and a copper mine.
Two lithium mines and a copper mine within Argentina have been targeted by India for potential purchase or long term leasing. A senior official from the Mining Ministry stated to media. That the commercial assessment of the mines has started and that a report on it is anticipated by the end of Feb. You may […]
ShreeMetalPrices: Federal Reserve in 2023: When Can We Expect Another Rate Hike
The Fed is expected to shed light about why it is anxious that high inflation will stay as the United States economy enters the new year.Policymakers published forecasts at the completion of the Federal Reserve Open Market Committee meeting on December 13–14. That indicated they forecast inflation to end 2023 stronger than they had previously […]
ShreeMetalPrices: China PMI manufacturing shrunk in Dec, with the worst economic growth since 2020.
China’s manufacturing activity fell for the third consecutive month in Dec. At the fastest rate in nearly 3 years. As COVID infections surged through manufacturing industry across country following Beijing’s rapid reversal of Zero-Covid policies. According to the National Bureau of Statistics, The official PMI decreased from 48.0 in November to 47.0 on Saturday. Economists […]
ShreeMetalPrices: US Restricts China’s Semiconductor Exports: India and Vietnam may see benefits
The newest upheaval is the U.S ban on semiconductor exports to China. Which is driving manufacturers to consider moving part of their chipmaking capacity to nearby countries India & Vietnam .However, experts told that it is unlikely that the global competition for chipmaking dominance will be disturbed by the Biden administrations and restrictions on China’s […]
ShreeMetalPrices: World Largest Lithium Producers sees Higher Prices – Demand will outpace Supply
Despite plans for increase in output, the world’s largest producer of battery metal, Albemarle, said today that lithium prices may possibly stay high for years.Eric Norris, Company’s head of lithium, stated that a major shift in the lithium market would be a reason for the long demand. The market is significantly different, according to Norris […]
ShreeMetalPrices: Russia bans oil Export to G7 Countries Following price caps
President of Russia’s bans Vladimir Putin issued a proclamation regarding oil exports, on Tuesday. “Countries that follow the price cap model are prohibit from importing any oil products starting on February 1 and will remain so until July 1, 2023”, He Said. Germany, whose exports are largely dependent on Russia, didn’t paid attention to the […]
ShreeMetalPrices: Exporters Concerned over covid-19 Spike in China-Hampering Trade
Indian exporters are concerned about the covid-19 spike in China as it may result to a decrease in demand in Western countries. The biggest trading partner of India, China, reported an 11% dip in imports in Nov. And the most current outbreak may have an even greater impact on exports of further Indian goods. Although […]