Media reports suggests that India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil. Citing an Israeli intelligence website, The Times of India has reported that India is opting for gold to repay [...]
A lot of headlines are underscoring the strong year-to-date performance of precious metals. Gold is set to have the best January since 2008, while silver is poised for a record January compared to the last thirty years. Even platinum and palladium are up 15.8 percent and 5.7 percent year to date, respectively. Yet in large [...]
TC Malhotra contributes to MetalMiner from New Delhi. In an attempt to reduce India’s dependence on imported copper concentrate, Hindustan Copper Limited (HCL) got the government’s nod to develop a 5 million metric ton per year underground copper mine at Malanjkhand Copper Project in the central Indian state of Madhya Pradesh. According to a report [...]
President Obama’s administration, for one, would be happy with the approach of “doing the right thing” when it comes to giving Americans more jobs, as we outlined in Part One of this article, and if the president means what he says, companies like Element Electronics would have even greater incentives to move ahead with reshoring. [...]
TC Malhotra contributes to MetalMiner from New Delhi. Tata Steel has secured a major contract from Siemens Wind Power to supply 25,000 metric tons of high quality profiled steel plate for wind towers. The order – the largest to date for the steel company’s dedicated wind tower hub in Scunthorpe, England – is worth an [...]
Concluding our four-part review of HSBC’s long-term crystal ball-gazing report, “The World in 2050,” we move onto the markets probably most interesting to readers, namely Asia and the West. (Read Parts One, Two and Three.) By the West, we mean North America, Japan and Europe — the established old world — although, as we shall [...]
TC Malhotra contributes to MetalMiner from New Delhi. Indian steel companies, already in the red this year, are likely to suffer a sharp fall in profit in the third quarter of the fiscal year because of high production costs and falling demand. A Business Line report notes that major steelmakers such as JSW Steel, Tata [...]
TC Malhotra contributes to MetalMiner from New Delhi. The impact of rupee depreciation on Indian auto companies is so high that many car- and car-parts makers are adopting various strategies to control their import costs. Upward trends in commodities prices have further burdened the auto firms and as a result, the pressure on margins has [...]
