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,
Oil Prices Surge 2% as US Labor Market Improvements Boost Oil Demand
Oil prices surged 2% on Thursday as Saudi Arabia and Russia extended measures to maintain tight oil supplies until September. Brent futures rose by $1.86 to $85.06 a barrel, and U.S. West Texas Intermediate crude increased by $2.03 to $81.52. Saudi Arabia extended its voluntary one-million-barrel-per-day output cut, and Russia plans to reduce oil exports
Gold Prices Show Slight Increase, Copper Witnesses Upward Movement Amid Caution Ahead of Key Labor Data and Chinese Stimulus Signals
Gold prices experienced a slight increase on Friday as traders remained cautious ahead of crucial labor data that could influence U.S. monetary policy. At the same time, copper witnessed some upward movement in anticipation of signals on Chinese stimulus measures. Gold faced downward pressure earlier in the week due to concerns over a hawkish Federal
Copper Prices Rebound on LME After U.S. Credit Rating Downgrade, Strong Dollar and Demand Concerns Limit Gains
Copper prices in London bounced back on Thursday following a previous session’s sell-off triggered by the U.S. credit rating downgrade. The three-month copper on the London Metal Exchange rose 0.4% to $8,543 per metric ton, recovering from Wednesday’s 1.4% drop. However, gains were limited by a strong dollar and a darkening demand outlook, influenced by
ShreeMetalPrices: Newmont Corp Offers $19.54 Billion for Australia’s Gold Miner Newcrest Mining Ltd
Newcrest Mining Ltd stated on Tuesday that it had granted access to its accounts to Newmont Corp of the United States following a sweetened deal. That valued the Australian gold miner at 29.5 billion Australian dollar (19.54 billion dollar). For each shares owned under the revised offer, Newcrest owners will get 0.400 Newmont shares. The