Business Standard India

Aluminium spearheading substitution of costly copper

Copper, enjoying much superiority over any other metal in electrical and thermal conductivity and also ductility, is today about four times as expensive as aluminium.

IMG wrestles with cons of coal block cancellation

The governments high-level panel looking into the controversial coal block allocations for captive mining has decided against cancelling three...

Ministerial ping-pong led to hasty vetting of coal applicants' credentials

Minutes of crucial screening committee meetings raise several questions.

Silver import in Gujarat jumps by 194 pct in 2011-12

There has been a sharp rise in import of silver in Gujarat for the year 2011-12 compared to the previous year owing to better returns on investments in the precious metal.

Traders threaten to stop import of essential commodities

Protesting the decision of the state government to impose VAT (value added tax) at an enhanced rate of 5 per cent on textiles and sugar, the traders in the state have threatened to stop importi...

Shanghai copper stocks at highest since Aug '02

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose to their highest in nearly a decade, data showed yesterday, suggesting oversupply in top copper consumer China where demand has been slower than expected.

Jewellers resume buying gold, diamonds as rupee rise pauses

The 6,000-odd registered jewellers in the country seem to have again started booking raw material, believing the recent sharp recovery in the rupee's exchange rate is over for now and a further rise is unlikely in the near future.

China gold hoarding turns traders bullish

Gold traders are the most bullish in two months after mainland China imported the most metal ever from Hong Kong and investors bought US bullion coins at the fastest pace in more than two years.

Essar's ore reserves in Minnesota estimated at 1.77 bn tonnes

Essar Group today said it has emerged as a leading iron ore reserves owner in North America with confirmation that its Minnesota Project contains 1.77 billion tonnes of reserves.

Iron ore export duty raised to 30 pct

Increase in duty upsets mining firms, but steel companies set to benefit after complaining about lack of supply for months.

Silver falls Rs 50 gold holds steady

Starting the week on a bearish note on Monday by extending losses for the second straight session, silver fell Rs 50 to Rs 52,500 a kg on sustained selling by stockists on subdued demand. However, gold held steady at Rs 28,040 per 10 grams in restricte...

Palladium beats others as US car sales expand

Palladium, used mostly in catalytic converters for vehicles, beat most other commodities this week after US car sales expanded at the fastest pace in more than two years.

No competitive auction for some coal blocks govt

The Coal Ministry has indicated that certain coal blocks out of 54 acreages that were tipped to be put up for competitive bidding will be awarded on a nomination basis instead.

NTPC plans long-term coal offtake deal

State-run NTPC is planning to strike a long-term offtake deal with coal companies abroad, to match its increasing demand.

Lead futures decline on weak spot demand

14:31 IST Lead prices fell by 0.44% to Rs 114.25 per kg in futures trade today amid a weak trend at the domestic spot market amid subdued demand from consuming industries. At the Multi Commodity Exchange, October lead fell by 50 paise, or 0.44%, to Rs

Copper down 0.37 pct on global cues

11:43 IST Copper prices fell by 0.37% to Rs 421 per kg in futures trade today as speculators reduced their positions amid a weak trend on the London Metal Exchange on concerns about demand. At the Multi Commodity Exchange, November copper declined by Rs

Karnataka steel industry reels under mining ban

Reeling under raw material shortages and the extension of a mining ban, the multi-billion dollar Karnataka steel industry is in the doldrums due to continuing uncertainty over iron ore supply to their plants. The jittery industry was not even optimistic over the release of 25 million tonne (MT) of iron ore, lying at various mines in the southern state, as the modalities are yet to be worked out.

Coal shortage to affect 15,000-MW new capacity addition: Govt

At a time when the country is embarking on ambitious power generation programmes, the shortage of coal is expected to impact new capacity addition plans to the tune of 15,000 MW in the current fiscal.

Asia commodities markets insulated from crisis, but cautious

Asia's commodities business is still largely insulated from looming fears of yet another global financial crisis, although new projects might face difficulties in getting financing.

Silver climbs in futures trade on global cues

13:55 IST Silver prices climbed by Rs 455 to Rs 61,450 per kg in futures trade today as traders indulged in creating fresh positions in tandem with a firm global trend. At the Multi Commodity Exchange, silver for December delivery shot up by Rs 455, or

CIL urges govt to relax investment rules for 2 overseas mines

The world's largest coal miner Coal India Ltd has zeroed in on two overseas coal assets, one in Australia and the other in Indonesia, for acquisition and expects to begin serious dialogue with the owners soon.

Diamond industry shifts focus from US markets

After having sleepless nights during the global economic slowdown in 2008, the Surat diamond industry seems to have played safe as far as the US, the biggest diamond jewellery market, is concerned.

Gold pips platinum on safe-haven demand

In a rare development, gold prices have surpassed usually costlier platinum from the precious metal basket.

Commodities crash on global cues

Growth concerns in the US and European countries have put downside price pressure on most commodity markets, with crude oil and copper losing the most.

GoM meet on coal to address green hurdles postponed

The meeting of the Group of Ministers (GoM) on coal, which was scheduled for tomorrow to try and resolve issues hurting the production of coal in the country, has been postponed.