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Time of India
22-05-2025
- Business
- Time of India
India to seek lithium and copper under new trade tie from Chile to power clean energy and industrial growth, says experts
NEW DELHI: India may seek a stable supply of lithium and copper through the expanded new trade tie with Chile to boost its clean energy targets and industrial growth says experts. As India undergoes rapid industrial expansion and transitions toward cleaner energy sources, the demand for critical minerals like lithium and copper is expected to grow significantly. These minerals are essential for achieving India's clean energy targets, strengthening its manufacturing sector, and building robust infrastructure. Chile is one of the world's leading producers of lithium and copper, stands out as a strategic trade partner. This collaboration aligns with India's broader objectives of achieving energy security and expanding its electric vehicle (EV) ecosystem. "The India-Chile CEPA (Comprehensive Economic Partnership Agreement) enhances India's commodity security, export competitiveness, and access to future minerals," said Ajay Kedia , Director at Kedia Commodities in Mumbai. Chile plays a dominant role in the global lithium supply chain. According to the United States Geological Survey, Chile holds the world's largest lithium reserves, estimated at 9.3 million tons, and ranks third in total lithium resources after Bolivia and Argentina. Recent studies from Chile's northern Antofagasta salt flats suggest the country's lithium resources may be 28 per cent higher than previously estimated, further boosting its importance. Live Events Copper is equally critical for India, especially in sectors such as EV manufacturing, renewable energy systems, and electrical infrastructure. As the EV market expands, copper is increasingly used in batteries, motors, wiring, and charging infrastructure. India's reliance on a steady supply of these resources is reflected in its industrial activity. Domestic manufacturers across EV, battery, energy storage, and electrical equipment sectors are scaling up production to support clean energy goals. Copper, in particular, remains a key input for wire and cable manufacturing, automotive systems, and power transmission networks. Ajay Kedia believes that securing a stable mineral supply and boosting trade across Latin America through the CEPA will enable India to strengthen its position in global supply chains and drive long-term economic growth. "It strengthens India's position in the global supply chain for energy transition, offers new markets for Indian industries, and aligns with long-term national goals like Make in India and green mobility," he added. India and Chile are preparing to launch negotiations under the Comprehensive Economic Partnership Agreement. Following the finalisation of the terms of reference on May 9, talks are set to begin by May 26. The agreement is expected to enhance trade cooperation, particularly in critical sectors like minerals and clean energy.
India Gazette
21-05-2025
- Business
- India Gazette
India to seek lithium and copper under new trade tie from Chile to power clean energy and industrial growth, says experts
By Daksh Grover New Delhi [India] May 21 (ANI): India may seek a stable supply of lithium and copper through the expanded new trade tie with Chile to boost its clean energy targets and industrial growth says India undergoes rapid industrial expansion and transitions toward cleaner energy sources, the demand for critical minerals like lithium and copper is expected to grow significantly. These minerals are essential for achieving India's clean energy targets, strengthening its manufacturing sector, and building robust is one of the world's leading producers of lithium and copper, stands out as a strategic trade partner. This collaboration aligns with India's broader objectives of achieving energy security and expanding its electric vehicle (EV) ecosystem.'The India-Chile CEPA (Comprehensive Economic Partnership Agreement) enhances India's commodity security, export competitiveness, and access to future minerals,' said Ajay Kedia, Director at Kedia Commodities in Mumbai. Chile plays a dominant role in the global lithium supply chain. According to the United States Geological Survey, Chile holds the world's largest lithium reserves, estimated at 9.3 million tons, and ranks third in total lithium resources after Bolivia and Argentina. Recent studies from Chile's northern Antofagasta salt flats suggest the country's lithium resources may be 28 per cent higher than previously estimated, further boosting its is equally critical for India, especially in sectors such as EV manufacturing, renewable energy systems, and electrical infrastructure. As the EV market expands, copper is increasingly used in batteries, motors, wiring, and charging reliance on a steady supply of these resources is reflected in its industrial activity. Domestic manufacturers across EV, battery, energy storage, and electrical equipment sectors are scaling up production to support clean energy goals. Copper, in particular, remains a key input for wire and cable manufacturing, automotive systems, and power transmission Kedia believes that securing a stable mineral supply and boosting trade across Latin America through the CEPA will enable India to strengthen its position in global supply chains and drive long-term economic growth.'It strengthens India's position in the global supply chain for energy transition, offers new markets for Indian industries, and aligns with long-term national goals like Make in India and green mobility,' he and Chile are preparing to launch negotiations under the Comprehensive Economic Partnership Agreement. Following the finalisation of the terms of reference on May 9, talks are set to begin by May 26. The agreement is expected to enhance trade cooperation, particularly in critical sectors like minerals and clean energy. (ANI)
Zawya
07-03-2025
- Business
- Zawya
Gold heads for best week in six, US payrolls data on tap
Gold prices climbed on Friday and were headed for their best week in six, buoyed by trade war concerns and a weaker dollar, while the market's focus shifted to the U.S. non-farm payrolls report due later in the day. Spot gold added 0.3% to $2,919.19 an ounce as of 1214 GMT. Safe-haven bullion has gained over 2% so far this week, its best since the week of January 20, as U.S. President Donald Trump's ever-shifting tariff policies fanned uncertainty. U.S. gold futures were unchanged at $2,926.40. The U.S. dollar index is on course for its worst weekly performance since November 7, 2022, making greenback-priced bullion less expensive for foreign buyers. Weakening in the dollar index, tariff concerns, and poor numbers from the U.S. economy, all these three factors have supported gold this week, said Ajay Kedia, director at Mumbai-based Kedia Commodities. "I'm expecting some kind of consolidation or weakness in gold prices to the tune of around $2,872, acting as near term support unless we don't have any strong news," Kedia said. Data earlier this week showed a slowdown in U.S. private payrolls growth in February, while U.S. jobless claims fell more than expected last week. The U.S. non-farm payrolls report is due at 1330 GMT, and might offer cues to the Federal Reserve's monetary policy and will be followed by Fed Chair Jerome Powell's speech on the economic outlook. "Weak payrolls could drive markets to believe in earlier rate cuts, aiding gold higher," said Nitesh Shah, commodities strategist at WisdomTree. The Fed has held interest rates steady so far this year after executing three rate cuts last year, but the market expects easing to resume in June. Despite being an inflation hedge, higher interest rates may dampen the non-yielding asset's appeal. Spot silver fell 0.5% to $32.47 an ounce and platinum shed 0.2% to $965.15, while palladium edged 0.3% up to $945.09. (Reporting by Rahul Paswan and Sarah Qureshi in Bengaluru; Editing by Tasim Zahid)
Gulf Business
19-02-2025
- Business
- Gulf Business
Gold gets cheaper: What's really driving the drop?
Image credit: Getty Images Gold prices fell on Wednesday, as investors locked in profits following recent record highs and also await peace talks after US President Donald Trump's administration agreed to conduct more discussions with Russia on ending the war in Ukraine. Read- Spot gold was down 0.2 per cent at $2,930.38 an ounce, as of 0531 GMT, but was only $12 shy of its all-time high of $2,942.70 hit last week. US Talks over potential peace deal in Ukraine 'Gold's upside remains capped as first round of talks between the US and Russia over potential peace deal in Ukraine has ended with no clear path but if they come out with a solid plan, then definitely it could be negative for gold,' said Ajay Kedia, director at Mumbai-based Kedia Commodities. 'There should be technical profit-booking because war premium should be slightly eroding. The upside could be capped around $2,970 as resistance and $2,890 as support.' Trump's administration agress to hold further talks Trump's administration said on Tuesday it agreed to hold more talks with Russia on ending the war in Ukraine after the initial Russia-Ukraine peace talks finished without Kyiv or Europe at the table. Bullion is viewed as a traditional hedge against rising inflation and geopolitical uncertainties. The market now awaits the Federal Reserve's January meeting minutes due later in the day for clues into the US central bank's interest rate trajectory this year amid uncertainty around the impact of the Trump administration's trade policies on the economy. 'Trump's presidency is creating macroeconomic and geopolitical uncertainties that are likely to prompt investors to diversify into gold,' analysts at ANZ said, adding that investment demand (in gold) would benefit from macroeconomic, geopolitical, trade and fiscal risks. Trump said on Tuesday he intends to impose auto tariffs 'in the neighborhood of 25 per cent' and similar duties on semiconductors and pharmaceutical imports. Spot silver dipped 0.4 per cent to $32.73 an ounce. Auto-catalysts platinum fell 1.2 per cent to $975.40 and palladium was trading about 1 per cent lower at $976.84.
Reuters
19-02-2025
- Business
- Reuters
Gold falls on profit-taking, hopes for Russia-Ukraine peace talks
Summary Bullion is $14 shy of its $2,942.70 record high Gold's upside remains capped says analyst Fed's January meeting minutes due later Feb 19 (Reuters) - Gold fell on Wednesday on profit-taking after prices hit record highs recently, with investors watching out for peace talks after U.S. President Donald Trump's administration agreed to hold more talks with Russia on ending the war in Ukraine. Spot gold shed 0.2% to $2,928.52 an ounce, as of 0338 GMT, $14 shy of its all-time high of $2,942.70 hit last week. U.S. gold futures dropped 0.1% to $2,945.90. "Gold's upside remains capped as first round of talks between the U.S. and Russia over potential peace deal in Ukraine has ended with no clear path but if they come out with a solid plan, then definitely it could be negative for gold," said Ajay Kedia, director at Mumbai-based Kedia Commodities. "There should be technical profit booking because war premium should be slightly eroding. The upside could be capped around $2,970 as resistance and $2,890 as support." Trump's administration said on Tuesday it agreed to hold more talks with Russia on ending the war in Ukraine after the initial Russia-Ukraine peace talks finished without Kyiv or Europe at the table. Bullion is viewed as a traditional hedge against rising inflation and geopolitical uncertainties. "Trump's presidency is creating macroeconomic and geopolitical uncertainties that are likely to prompt investors to diversify into gold," analysts at ANZ said, adding that investment demand (in gold) would benefit from macroeconomic, geopolitical, trade and fiscal risks. The bullion rose over 1% in the last session on concerns over economic growth, due to uncertainty surrounding Trump's tariff plans prompting safe-haven flows into bullion. The market now awaits the Federal Reserve's January meeting minutes due later in the day for clues into the U.S. central bank's interest rate trajectory this year. Spot silver dipped 0.9% to $32.57 an ounce. Platinum fell 1.3% to $974.32, and palladium was 1.3% lower at $974.56.
