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JSW Steel Ltd, India's No. 3 maker of the alloy, said it expects to increase imports of iron ore by up to 80 percent to 900,000 tonnes a month due to a domestic shortage and a slump in international prices.The company, which posted better-than expected quarterly profit on Tuesday, will also participate in government auctions for coal mines for captive consumption, a senior company official said on ...
The rupee rose for a third consecutive session on Tuesday as expectations for more reforms continued after the government announced it would auction coal blocks, but broader gains were capped by a rising dollar globally.The government on Monday announced plans to open up the coal industry to private players, two days after it unveiled fuel reforms on Saturday, pushing domestic shares higher for their ...
Gold rose to a one-month high on Tuesday as the dollar edged down slightly and on worries over a slowdown in the global economy after China's growth eased in the third quarter to its weakest since the 2008/09 financial crisis.Data showed China's gross domestic product (GDP) grew 7.3 percent between July and September from a year earlier, down from a 7.5 percent in the second quarter, although slightly ...
The Reserve Bank of India (RBI) will not change its gold import rules, sources with knowledge of the matter said, responding to a report that the world's second-largest consumer of the precious metal was keen to limit imports.The RBI has already eased some import controls by allowing seven trading houses to import the metal, driving a sharp jump in overseas buying despite a record import duty of 10 ...
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