Vietnam finds itself wooed by two large world powers. However, this time, it is not over any geopolitical consideration, but for a resource that the modern world covets: rare earths. China and the U.S. are locked in a race to court a country that boasts the world’s second-largest rare earth deposits. However, much of Vietnam’s […]
Sohrab Darabshaw
Steel Production and Export Pressure Push India’s Steel Trade into a Deficit
India officially reported a trade deficit in steel shipments in the April-October 2023 period. Analysts cited a continue drop in export demand and shifting steel production levels as the primary reasons why they total value of imports was more than that of exports. Furthermore, the continued slow demand from major markets like Europe continues to […]
ArcelorMittal Halts Steel Production in Bosnia Amidst Europe’s Slump in Demand
A drop in steel demand throughout Europe proved the reason for ArcelorMittal temporarily suspending output at its Bosnia plant. The company remains a leading player in the steel industry, making approximately 700,000 tons of liquid steel every year and employing 2,200 workers. According to this report, company management moved to halt production due to a […]
Copper Mining Giant Ivanhoe Mines Announces New Mineral Resources in DRC
Canadian copper mining giant Ivanhoe Mines recently announced new “maiden” mineral resources for high-grade Makoko and Kiala deposits in its project in the Democratic Republic of Congo (DRC). The company said that Makoko contains indicated mineral resources of 16 million tons (MT) at 3.55% copper. They also reported inferred mineral resources of 154 million tons […]
India and China Plan to Discuss Carbon Tax with the EU
Both India and China continue to denigrate the Carbon Border Adjustment Mechanism (CBAM), or “carbon tax” as it has come to be known, proposed by the European Union. Meanwhile, the EU claims the new scheme is integral to its plan to achieve zero emissions across six earmarked industries. The new tax regime recently moved into […]
Gold Prices Hover Near Psychological Range of U.S. $2,000
For decades, gold has remained the best-performing asset class, providing double-digit returns for investors. True to form, gold demand this quarter remains above the long-term average as precious metal prices continue to move in response to global events. According to the World Gold Council (WGC), gold buying by central banks also continues at a scorching […]
Kazakhstan-Backed ERG Injects $800 Million to Revive Congo’s Cobalt and Copper Mine
It has the largest reserves of cobalt in the world and the 7th largest deposit of copper, making it the cynosure of the mining world. The Democratic Republic of Congo (DRC) plays a central role in the world’s rollover to renewable energy and in cobalt price movements. As a result, the central African nation surfaces in […]
India’s Steel Industry Braces Itself: Coking Coal Crisis Sparks Controversial Price Hikes
India has almost replaced China as the most important coking coal export destination for the near future. This comes after a significant increase in steel demand in the subcontinent. The expected resurgence in China’s economy, mainly due to the government’s efforts to kick-start sectors like construction, has not materialized. In response, sector experts are beginning to […]
Copper Price Roller Coaster a Wild Ride in 2023: From Highs to Lows and Back Again
It’s safe to say that the copper price index witnessed an interesting 2023 thus far. Indeed, the market’s been volatile, so there were more than the usual ups and downs. Mid-year, prices registered a major tumble because of the fumble in China’s economy. However, soon after, they began clawing back to a respectable level. Prices […]
India’s Aluminum Appetite Surges: How Will This New Global Player Affect Aluminum Prices?
In an otherwise down market staring at a slow recovery in 2023, only India stands apart from the rest of the world in terms of aluminum production and consumption. Indeed, the government’s push for new infrastructure, especially for green energy, continues to drive domestic consumption and overall stability for aluminum prices. The country is already the […]
