BAN ON RUSSIAN ORIGIN METALS
EU defers ban on Russian diamonds by six months
A few other relaxations, like ring-fencing old stocks, announced by the European Commission, the executive arm of the EU, would give a further breather to the local diamantaires which constitute the world's largest importer of rough diamonds. According to a statement issued by the Commission on Monday, the ban on import of Russian diamonds would not extend to either rough or polished stones which were there in the EU and other countries (like India) before the beginning of the sanctions in March 2024.
Domestic copper at lifetime highs; factors affecting the price surge
Record copper prices are driven by Chinese stimulus, mine supply concerns as well as green demand. MCX and LME futures surge. The Chinese 1 trillion yuan stimulus has boosted industrial metals demand for electric vehicles, renewable energy, and power grids. Goldman Sachs predicts major copper market deficit with US manufacturing rebound.
Stocks to buy: 67 metal stocks gave over 10% returns last month; is it the right time to invest in metal in India?
The Nifty Metal Index has surged significantly since November, delivering 11.6% year-to-date returns. In comparison, the Nifty 50 and Nifty 500 have yielded 2.7% and 5.7%, respectively. Despite global headwinds, metal companies with stable cost structures can prove effective long-term bets amid strong domestic demand. Should you invest in metal stocks now?
Twin tailwinds: Banning of Russian metal and Chinese revival, 5 metal stocks with an upside potential of up to 23%
It is not easy to quantify how much impact it will have in the short term, but the fact that the two of the world largest commodity exchanges, London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) have banned any metal of Russian origin produced after 13th April, have a higher probability of pushing up the metal prices higher after some time. Now this comes on the back of Chinese GDP numbers which were better than expected. If one looks at the trend in metal prices, they are incher higher. If the revival of the Chinese economy gets further momentum than probably two years old, the bearish phase of metal prices might be over. What does this mean for the Indian metal companies, probably another round of higher profits given the fact that their balance sheets are in much better shape as compared to 5 years back.
Metals whipsawed as US, UK sanctions on new Russian supplies rattle LME
But the sanctions will still reverberate through metals markets because of the LME's central position at the heart of the industry. Its prices are used as a benchmark and referenced in a huge number of contracts around the world, and many buyers view the ability to deliver on the LME as essential.
LME ban on Russian origin metals to see aluminium, copper & nickel prices go up in short term: Amit Dixit
ICICI Securities' Analyst, Amit Dixit, examines the impact of Russian metal bans on commodity prices, emphasizing short-term fluctuations and the evolving steel sector in India amidst changing global dynamics. He says: "There would be ways and means by which you would find that the actual impact would be far lower than what people are expecting currently."
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Metal traders see price rising after LME Russia ban
But there are disagreements about the broader impact of the move: Some argue that removing one of the largest producers from the market will drive prices higher, while others are focusing on the prospect of a flood of old Russian metal getting dumped onto the LME.
Jaishankar raises India’s concerns over restrictions of Russian diamonds with Belgium
New Delhi is concerned over Western ban on rough diamond imports from Russia, the world's biggest diamond producer and the biggest source of raw material for India's thriving polished diamond industry located in Surat.
Govt has taken up issue of ban on imports of Russian diamonds by EU, G7: S Jaishankar
India's External Affairs Minister, S Jaishankar, has highlighted the government's concern over the ban on Russian-origin unpolished diamonds by the EU and G7 nations, which could adversely affect the domestic diamond polishing industry, particularly in Surat, Gujarat. Jaishankar emphasized efforts to delay, soften, or prevent the ban altogether, considering it a priority issue.
Diamond traders in a fix as G7's Antwerp diktat comes into effect
India's Gem and Jewellery Export Promotion Council (GJEPC) and global diamond trade bodies have raised concerns about the G7 bloc's demand to route rough and polished diamonds through Antwerp for certification as non-Russian. The ban, part of sanctions imposed on Russia since the Ukraine war, will extend to diamonds weighing 0.5 carats and above from September 1.
US may allow 'self-certification', India, Africa resist EU diktat
Trade sources told ET there was a glimmer of hope following a meeting last week between a US government official and the country’s leading jewellers who import diamonds mined across the world and polished in India and other countries.
US takes aim at financial institutions with new Russia sanctions authority
U.S. President Joe Biden signed an executive order threatening penalties for financial institutions aiding Russia in circumventing sanctions. The order provides the U.S. with the ability to expand import bans on certain Russian goods, including seafood and diamonds. It aims to send a clear message that anyone supporting Russia's war effort risks losing access to the U.S. financial system.
India urges G7 to delay ban on Russian diamonds as rules lack clarity
India has requested G7 countries to postpone the ban on Russian diamonds, citing unclear rules on tracing gem origins. As home to 90% of the world's diamond cutting and polishing industry, India's cooperation is crucial. G7 announced a ban on Russian diamonds starting January 1, with phased-in restrictions on indirect imports from around March 1
EU adopts 12th package of sanctions against Russia
The package focuses on a Russian-origin diamond import ban as well as imposing additional import and export bans on Russia, combating sanctions circumvention and closing loopholes, it said.
GJEPC raises concern on G7 decision on imposing direct import curbs on Russian-origin diamonds
On Wednesday, G7 leaders decided to introduce import restrictions on non-industrial diamonds, mined, processed, or produced in Russia, by January 1, 2024.
Indian diamond trade raises concern over a recent statement by G7 leaders
"We had engaged with the G7 to discuss such sanctions and their implementation. We have reservations on the timelines announced for the implementation of restrictions. Recognizing the diversity of our industry, we believe there should be more flexibility in these timelines,"said Vipul Shah, chairman of Gem & Jewellery Export Promotion Council on Thursday.
G-7 to ban Russian diamonds starting next year
The G-7 said it will continue to consult with diamond-producing and manufacturing countries on how to design and implement the tracing system.
Under Putin, the uber-wealthy Russians known as 'oligarchs' are still rich but far less powerful
The article discusses how the dynamics of power and influence have shifted among Russia's ultra-wealthy, commonly referred to as "oligarchs," since Vladimir Putin came to power in 2000. Initially considered shadow rulers with significant political influence, Putin made a deal with them, urging them to stay out of politics in exchange for safeguarding their amassed wealth.
Russian Duma passes law to revoke ratification of nuclear test ban treaty
Russia's parliament has passed a bill that revokes Russia's ratification of the Comprehensive Nuclear Test Ban Treaty, in line with President Vladimir Putin's wishes. This move comes at a time of heightened tension with the West. Russia says it will not resume testing unless the United States does, but experts are concerned that it may be inching towards a test that could escalate the situation further. Russia's shift on the treaty follows its earlier suspension of the New START treaty with the US, which limited the number of strategic warheads each side could deploy.
African Diamond Producers Association opposes G7 diamond protocol
India's diamond industry, heavily impacted by G7 sanctions on Russia, has received support from the African Diamond Producers Association (ADPA), which opposes the G7 diamond protocol. The G7 countries aim to prevent the entry of Russian diamonds into their markets. ADPA has expressed its discontent at not being included in the G7 discussions and rejected the protocol. The G7 block plans to ban the import of diamonds mined in Russia, including those cut and polished in other countries. This move could lead to supply chain disruptions and increased costs for diamond-producing nations, according to ADPA.
Vapers, beware! Your fancy e-cigars contain metals, radio-active ingredients
Ingredients include nicotine, flavouring chemicals, and the liquids that carry them - primarily propylene glycol and glycerine.
The Indian 'laundromat' exposes the 'refined' hypocrisy of Europe
Five countries have become "laundromats" for European countries that imposed price caps on Russian crude, according to a report by the Finnish Centre for Research on Energy & Clean Air. China, India, Singapore, Turkey and UAE have turned increased purchases of Russian crude oil into products shipped to countries having sanctioned Russian oil.
UK to ban Russian diamonds at G7 in fresh round of sanctions
Britain is also targeting an additional 86 people and companies from Russian President Vladimir Putin's military industrial complex, in addition those involved in energy, metals and shipping industries. They include those supporting the Kremlin to actively undermine the impact of existing sanctions, as Britain continues to work with G7 partners to tackle all forms of sanctions circumvention, the government said.
Russian oil price cap, EU ban aim to limit Kremlin war chest
The EU ban on Russian oil moving by sea is "by far the biggest step to date to cut off the fossil fuel export revenue that is funding and enabling Russia's barbaric invasion of Ukraine," said Lauri Myllyvirta, lead analyst at the Finland-based Centre for Research on Energy and Clean Air.
Europe rushes to fill up on Russian diesel before ban begins
The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by Feb. 5. That will follow a ban on Russian crude taking effect in December.
Aluminum traders game out the options: Sanctions, tariffs or ban
Aluminum, the most widely used base metal, has already had a tumultuous year. Prices rocketed to a record in March but tumbled as the economic outlook soured.
Aluminum heads for more supply chaos as Biden weighs Russia ban
Aluminum prices surged to a record in March in the immediate aftermath of Russia’s attack, but have receded as Russian metal has largely kept flowing to global markets.
Western ban on Russian gold imports is largely symbolic
Western governments sanctioned Russia's main gold-trading banks, including VTB, Otkritie, and Sberbank, and many international banks, refiners and shippers stopped dealing with Russian bullion.
US lawmakers want India to restrict sale of Russian-origin diamonds
A bipartisan group of American lawmakers has sought the help of the Biden administration in restricting the international trade and sale of Russian-origin diamonds, in view of the massive sanctions that the US and its European allies have imposed on Moscow.
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