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Steelmakers raise long product prices amid uptick in domestic demand, uncertainty over China's stimulus bid

Money Control

Money Control · 9m ago

Steelmakers raise long product prices amid uptick in domestic demand, uncertainty over China's stimulus bid

Indian steel manufacturers, particularly for long products like rebar and wire rod, are increasing prices in order to maintain control over pricing mechanisms and counter import pressures from countries like China and Vietnam. The domestic demand for steel has picked up after the parliamentary elections, driven largely by the real estate sector and government tendered road projects. The recent stimulus measures in China have raised hopes for Indian metal industry players, as it is expected to reduce import pressure. However, market sentiment remains cautious and a sustained price rebound will depend on further policy support and improvement in real estate demand.

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China's SMIC flags chip oversupply risk on weakening demand, rising output

Economic Times

Economic Times · 5m ago

China's SMIC flags chip oversupply risk on weakening demand, rising output

China's largest chipmaker, SMIC, warns of potential chip oversupply by late 2025 due to declining demand and increased production capacity, sparking price competition. The company focuses on established chips for consumer electronics, heavily affected post-COVID demand slump. SMIC saw a 31.5% revenue increase in Q4 2023, forecasting continued growth amid rising share prices. However, U.S. export controls affect access to advanced technology, prompting SMIC to boost domestic semiconductor capability and manage profitability challenges.

Reliance, metal stocks power Nifty 50 to its best week in three months

VCCircle

VCCircle · 5m ago

Reliance, metal stocks power Nifty 50 to its best week in three months

India's benchmark index Nifty 50 recorded its best week in three months, driven by Reliance Industries and metal stocks amid bargain buying after recent losses. The Nifty rose 1.9% this week, buoyed by market recovery signals and optimism from U.S.-Mexico and Canada trade tariff suspensions. Reliance saw a significant rebound, gaining 4.1%, as global brokers upgraded its valuation. Metals also surged on China's stimulus hopes, despite ongoing market uncertainties.

Govt in talks to tackle rising steel imports: Steel minister Kumaraswamy

Money Control

Money Control · 10m ago

Govt in talks to tackle rising steel imports: Steel minister Kumaraswamy

India is considering measures to address the issue of rising steel imports, according to Steel Minister H.D. Kumaraswamy. The country, which is the world's second-largest producer of crude steel, has been a net importer of the metal in recent years. The increase in imports has led to a decline in local steel prices. Kumaraswamy's comments suggested that potential tariff increases and an anti-dumping investigation into steel imports from Vietnam are being considered to protect domestic steelmakers.

Gold price smashes all records at Rs 1.02 lakh/10 g! Is 38% profit in 2025 just the beginning?

Economic Times

Economic Times · 1d ago

Gold price smashes all records at Rs 1.02 lakh/10 g! Is 38% profit in 2025 just the beginning?

Gold prices have hit an all-time high of Rs 1,02,155 per 10 grams, driven by a mix of weak U.S. economic indicators, tariff risks, and geopolitical tensions, enhancing gold's appeal as a safe-haven asset. Analysts anticipate further gains, possibly 4–5% more. Investor interest is growing amid U.S. economic uncertainty, political tensions, and potential tariff reintroductions. Central banks increasing gold reserves and market volatility also contribute to the precious metal's increased demand.

Marico sees single-digit volume growth on rural demand; crude oil a 'potential uncertainty'

Money Control

Money Control · 10m ago

Marico sees single-digit volume growth on rural demand; crude oil a 'potential uncertainty'

- Marico has seen a mid-single digit volume growth in the September quarter in its domestic business, with rural demand outperforming urban demand for the third quarter in a row. - The company expects a double-digit revenue growth for the year and will closely monitor inflation in copra prices, duty hike in vegetable oils, and potential uncertainty in crude prices. - Marico's Value Added Hair Oils business saw subdued growth due to increased competition in the bottom of the pyramid segment, but the demand outlook remains positive. - Parachute Coconut Oil witnessed close to mid-single digit volume growth, partially impacted by the reduction in one of its key price-point packs. - The Saffola brand recorded low single-digit revenue growth, indicating stable input and consumer pricing with a slightly favorable pricing cycle.

Banks' infra bond funding to turn expensive as investors demand higher returns

VCCircle

VCCircle · 5m ago

Banks' infra bond funding to turn expensive as investors demand higher returns

Indian banks face increased costs in raising funds through infrastructure bonds as investors seek higher returns amid a surge in debt supply. Domestic lenders have raised a record 892 billion rupees this fiscal year but face challenges as demand from long-term investors weakens, widening spreads between corporate and government bonds. Despite rising secondary market yields, institutional investors demand higher yields, affecting state-run banks and companies as they strive to meet fundraising targets.

US stimulus bill may shake global markets, but India stays resilient: Punita Kumar Sinha

Economic Times

Economic Times · 1m ago

US stimulus bill may shake global markets, but India stays resilient: Punita Kumar Sinha

The US stimulus bill may impact global markets by affecting US economy, currency, and bond yields. While global markets have faced various risks like geopolitical tensions and trade disputes, India remains relatively resilient and focused on its internal growth factors. Despite some concerns over valuations and earnings growth, India's long-term prospects look promising due to good monsoons and improving credit cycles. Investors should remain cautious and focus on diversified assets and domestic growth opportunities.

Nvidia cuts China prices in Huawei chip fight, sources say

Livemint

Livemint · 1y ago

Nvidia cuts China prices in Huawei chip fight, sources say

Nvidia's most advanced AI chip, the H20, developed specifically for the Chinese market, is facing weak demand and pressure from competitors. This is due to an abundant supply of the chip that has forced it to be priced lower than the rival chip from Huawei. The challenges faced by Nvidia's China business, including US sanctions and increased competition, raise concerns about the company's future in a market that contributed a significant portion of its revenue. Nvidia's struggle to capture market share in China's growing AI industry adds uncertainty to its outlook.

FPI buying in Indian shares falls in first half of August

Reuters · 1y ago

FPI buying in Indian shares falls in first half of August

Foreign portfolio investors' (FPIs) purchases of Indian shares fell to a five-month low in the first half of August, amid declines in domestic and global equities due to rising interest rate concerns in the U.S. and worries over China's economy.

India sees one of the highest ever iron-ore buying by China in April - Feb period

Thehindubusinessline

Thehindubusinessline · 1y ago

India sees one of the highest ever iron-ore buying by China in April - Feb period

China's iron ore buying from India has increased since the withdrawal of Covid restrictions in China. In the 11-month period of FY24, 92% of Indian iron ore exports went to China, marking the highest ever shipment in percentage terms in a seven-year period. India's exports of iron ore stood at 44.23 million tonnes, up 162% year-on-year, with shipments to China increasing almost 200%. Chinese iron ore imports rose over 8% year-on-year in the first two months of 2024, as steelmakers replenished their stocks. However, industry bodies have called for export restrictions on iron ore to address domestic needs.

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