Indias engineering exports to China surge 123% in Apr-June
The Dollar Business Bureau India’s engineering goods exports to China recorded a massive growth of 123% during the April-June quarter of the current fiscal. This increase according to, the the trade body Engineering Export Promotion Council (EEPC) of India, is due to the huge exports of non-ferrous metals to China. India’s shipments of engineering goods to China stood at $629 million in the April-June quarter, compared to $282 million in the same quarter in the previous fiscal. The growth assumes importance as India has a huge trade deficit with its neighbour, which was $46.56 billion last year as exports from the country continued to drop whereas the bilateral trade slowed down a little by 2.1% to around $71 billion, as per the data released earlier. The Ministry ...
Indian Metal and Mining industry can survive a China slowdown
The Dollar Business Bureau India’s metal prices depend substantially on Chinese economic activity as China accounts for 40%-50% of the global consumption of aluminium, copper and zinc metals. For China, the latest leading economic indicators are not encouraging with a weak output and low order growth rates as real estate construction activity is unlikely to recover in the short-term. Against this back-drop, Indian industry can sustain realisations and operating profits driven by a steady physical premium, said an industry report. Physical premiums on non-ferrous metals over broad market prices such as London Metal Exchange are likely to remain steady given the oligopolistic nature of the non-ferrous metals market in India. The report said that it does not expect the ...
