ShreeMetalPrices: Nexa Resources has halted operations at its Cerro Lindo zinc mine due to Cyclone Yaku
Major zinc miner Nexa Resources revealed yesterday that the production at Cerro Lindo mines in Peru has been interrupted. Due to unusually high rainfall conditions and overflowing rivers induced by Cyclone Yaku. That’s been hitting the region alongside other regions of the country. According to a news release from Nexa. Parts of the mine’s lower […]
ShreeMetalPrices: Gold sees strong gains amid banking turmoil sprints as a safe haven
Early on Friday in Asian trading. Gold price remained unchanged and on track to enjoy their best weekin two months as demand for safe haven assets increased because of worries about a potential banking crisis. Gold price also benefited from skepticism regarding the Federal Reserve’s ability to continue raising interest rates in light of the […]
ShreeMetalPrices: UK’s Economy shows strong signals of recovering; Manufacturing PMI rose to 49.3
The UK’s manufacturing purchasing managers’ index (PMI) increased from 47.0 in Jan & the previous flash forecast of 49.2 to 49.3 in Feb 2023. This was the best purchasing managers’ index figure during that period, despite the fact that it maintained below the neutral level of 50.0 for the 7th consecutive month. For the 1st […]
ShreeMetalPrices: Pakistan’s central bank raises the Interest Rate by 300 bps as country faces greatest inflation in 50 years
Pakistan’s central bank hiked its benchmark interest rate by 300 bps on Thursday. Surpassing investor forecasts, as the cash-strapped government strives to persuade the International Monetary Fund (IMF) to release essential loans. Consumer price inflation (CPI) has reached its highest level in over 50 years. The benchmark rate of the State Bank of Pakistan (SBP) […]
ShreeMetalPrices: IEA Forecasts China’s Demand could Increase the Prices of Natural Gas in 2023
The International Energy Agency (IEA) warned on Tuesday that natural gas prices might rise in 2023. As Asia, notably China, resumes its demand for liquefied natural gas (LNG). Natural gas prices have declined in recent months. While being high by historical standards, as a milder-than-expected winter maintained storage levels strong & increased supply in Europe. […]
ShreeMetalPrices: Gold Deposits Found in Odhisa in Three Different Regions
Odisha is once again in the spotlight for its deposits of precious minerals & metals, which account for 98% of the country’s chromite resources. And it’s gold this time. 3 Gold deposits have been discovered in three different regions within the state, mines & Steel Minister Prafulla Mallik said the state Assembly on Monday. In […]
ShreeMetalPrices: US Targets Russian Metals, Primarily Aluminium With 200% Duties Imposed
The U.S. has expanded its economic sanctions against Russia to include the mining and metals industries. Aluminium would be struck the hardest, with 200% duties imposed on Russian metal imports beginning from March 10 and on any 3rd-country product incorporating Russian metal from Apr 10. Other metal import duties, including those on copper, lead, and […]
ShreeMetalPrices: Sudbury Mines discovers fresh resources of copper, nickel, cobalt, palladium, gold, and platinum
Magna Mining, a Sudbury-based prospective metals producer has found a new mineral area close to the surface at the old Inco mining area. This winter, a drill programme was start by a local company to determine how much life remains in the once-productive Crean Hill mine. Which is located in the southeast part of the […]
ShreeMetalPrices: U.S. announces additional crude oil reserve release that lead oil prices to drop.
After the U.S. government announced it will release additional crude oil out of its Strategic Petroleum Reserve, oil prices dropped on Tuesday. Traders are now keeping an eye on U.S. inflation statistics in expectation of further declines. By 1005 GMT, Brent crude futures had down by 80 cents, with 0.9%, at $85.81 per barrel. Whereas […]
ShreeMetalPrices: Indian government will borrow funds in 2023-24 to a record high of 16 trillion rupees
According to a survey of economists, the Indian government would borrow a historic record of 16 trillion rupees “$198 billion” in the fiscal year 2023-24. The economists surveyed believed that infrastructure investment and fiscal responsibility should be the government’s top budget goals. Since Prime Minister Narendra Modi entered power, his administration has spent significantly to […]