London Metal Exchange

Vedanta Aluminium on Thursday said it has digitally linked its metal quality analysis system with the London Metal Exchange (LME) -- the global hub for trading industrial metals and setting benchmark prices. The move aims to streamline operations throughout the entire metal supply chain, from production to delivery, the company said in a statement. "This makes Vedanta Aluminium the first smelter in India to digitally link its metal quality analysis system with it and the fifth primary aluminium producer globally to establish a direct digital connection for Certificates of Analysis submission from its smelters to the LME Passport platform," it said. "...implementation of the LME Passport underscores our commitment to adopting cutting-edge digital technologies that enable us to meet the highest global standards in metal quality assurance," Vedanta Aluminium Chief Operating Officer (COO) Sunil Gupta said in a statement.

Ebitda for the quarter, the company said, was at Rs 3,122 crore, down 28.8 per cent Y-o-Y

At least dozen cos such as Adani Enterprises, Vedanta Ltd, Reliance Industries, Jindal Steel and Power Ltd, Himadri Chemicals and Korea's LX International are likely to take part in auction

The move to link the prices comes after the Geological Survey of India (GSI) conducted an exploration of the blocks of REEs and lithium in the country

Three-month copper on the London Metal Exchange was trading around $7,363 a tonne on Wednesday having declined more than 30% on growing recession fears since scaling a record peak of $10,845 in March

Copper has given up 30% since touching a record peak in March but has largely held in a range between $7,200 and $8,000 since the end of August

Warehouse stockpiles tracked by the LME jumped by 11% on Tuesday, the biggest increase since February, and rebounding from a three-decade low struck in August

Interest rate hikes, however, remain a pet peeve

Fund manager Elliott Associates sued London Metal Exchange for $456 million following the suspension and cancellation of nickel trades on the platform owned by Hong Kong Exchanges and Clearing Ltd

On March 8, nickel contracts on the London-based exchanges surged as much as 111 per cent to breach $100,000 per tonne

Wall Street heads for gains after world shares sink Wall Street pointed toward gains in premarket trading Tuesday after world share prices sunk lower, with Hong Kong down almost 6% and Shanghai losing 5%. Oil prices slid about 8% as virus lockdowns and rising numbers of COVID cases in China threaten to disrupt manufacturing and trade. The sell-off gathered pace late in the session despite the release of data showing strong increases in Chinese retail sales, industrial production and investment in January-February. It followed a decision by China's central bank not to ease interest rates to spur economic growth. Futures for the Dow industrials gained 0.3% while futures for the S&P 500 rose 0.4%. Prices of oil and other commodities slid as Russian forces pounded the Ukraine capital ahead of another round of talks between the two sides. Germany's DAX and the CAC 40 in Paris both fell 1.2%, while Britain's FTSE 100 declined 0.8%. Anxiety over the war in Ukraine and an upcoming ...

Moscow accused the United States on Wednesday of declaring an economic war on Russia, and said it was considering a response to the US ban on Russian oil and energy imports

Commodities markets from metals to oil and gas have been upended by the war in Ukraine as big corporates withdraw from Russia

Demand-supply scenario is favourable and should keep prices elevated

Asian shares advanced warmed by the embers of a strong day on Wall Street, which supported risk-friendly currencies and hurt the safe-haven yen.

The dollar-denominated hot rolled steel prices in China are up 27 per cent in 2021 against 13.4 per cent rise in S&P 500 index, but some analysts are turning cautious

The floor was closed in March 2020 for the first time since World War II to allow for social distancing needed to deal with Covid-19

Rebounding zinc and firm silver prices will add to gains from rising production

With volume growth expected to be soft in FY21, higher base metal prices are crucial for upgrades

Stronger manufacturing data from China supports upswing