Crude oil trades in range as key data China still struggling to recover
Crude oil traded in a tight range on Thursday morning as China (a major crude oil consumer) came out with its consumer price index (CPI) and producer price index (PPI) numbers. Meanwhile, crude oil inventories in the US, another major consumer, fell during the week ending March 3. At 9.55 am on Thursday, May Brent […]
Thermal, coking coal prices likely to drop further
Thermal coal prices have dropped to their lowest since January 2022 on concerns over sluggish demand and they will likely rule lower than the highs seen in mid-2022. Prices of coking coal, used for making steel, are likely to drop too as they were driven by temporary supply disruptions last year. Higher production will also result […]
China’s new foreign minister on U.S. relations, Taiwan, spy balloon
BEIJING – China’s new foreign minister, Qin Gang, said relations with the U.S. have left a “rational path” and warned of conflict if Washington doesn’t “hit the brake.”Qin, who was until recently China’s ambassador to the U.S., said China would “pursue a sound and stable relationship with the U.S.”However, he said the Biden administration’s call […]
Lead prices likely to rule at levels similar to 2022
Lead metal prices have dropped by nearly 10 per cent since the beginning of 2023 and they will likely rule in the $2,000 a tonne region this year — similar to 2022, analysts say.On Friday, the lead three-month contract was quoted at $2,108 on the London Metal Exchange, while for cash the soft, malleable, ductile […]
Sleepwalking Toward Accidental Conflict by Stephen S. Roach
The argument minimizing the risk of a war between major powers – that today’s globalized, interconnected world has too much at stake to risk a seismic unraveling – is painfully familiar. It is the same argument that was made in the early twentieth century, when the first wave of globalization was at its peak. NEW […]
The Great Game Reloaded: Superpowers In The Modern World
Top foreign policy officials from the United States and China spent most of the last weekend at the Munich Security Conference stressing that their governments were not seeking a new Cold War, but amid tense rhetoric and accusations, a chill across much of the world is already being felt.Finding Perspective: The Munich gathering is Europe’s premier […]
China Sticks Close to Russia as It Makes Cautious Diplomatic Push
WorldAsiaChinaBeijing has sought to cast itself as an advocate for peace in Ukraine, but shown little willingness to distance itself from Moscow’s positions Source link
India plans first-ever auction of lithium mines in Q1FY24
In a first for the country, India plans to auction blocks of lithium mines, recently discovered in Jammu and Kashmir, between April and June. Indian companies and foreign entities with a local subsidiary can participate in the auction, a mines ministry official said. The ministry, through the Geological Survey of India (GSI), will also undertake […]
Aluminium likely to rule firm in 2023 on supply woes, rising demand
Aluminium prices will likely rule firm in 2023 on supply constraints and rising demand, especially with China easing Covid-19 curbs, analysts say. Fitch Solutions Industry Research and Country Risk, a research unit of the Fitch Group, sees prices ruling at elevated levels but not rallying to the highs seen in 2022.Goldman Sachs, on the other hand, […]
Copper will likely rule at elevated levels in 2023
Copper prices are expected to rule at elevated levels this year despite a dip during the Chinese Lunar New Year holidays. Global political unrest could result in further upside for the red metal faces significant risks, analysts say.According to Shanghai Metal Market (SMM) News, Chinese copper cathode production in January was 41,700 tonnes lower than […]