China's metal demand takes a different shape as housing slumps
Mint Mumbai|February 23, 2024
While China's housing market could take a while to recover, steel demand is getting a manufacturing and infra boost
MEGHA MANDAVIA
China's metal demand takes a different shape as housing slumps

The realization that China's property bust is beginning to look semipermanent isn't welcome for big miners, which have long fed off the country's housing demand. But although China is starting far fewer new apartment blocks these days, it is building lots more of other realization metal-intense things like electric vehicles and windmills.

That fact, along with supply discipline from the big iron-ore miners, has kept things from being even worse.

Even so, miners' headline results released this week weren't pretty. Rio Tinto's full-year net profit was down 19% year-over-year, the miner said Wednesday, thanks in part to a drop in aluminum prices. BHP's first-half underlying profit, after stripping out one-time charges, including a big nickel asset write-down, was largely flat. Both miners announced dividend cuts. Rio Tinto's full-year underlying earnings were down 12%.

Bu hikaye Mint Mumbai dergisinin February 23, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

Bu hikaye Mint Mumbai dergisinin February 23, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MINT MUMBAI DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Yes, the world is hotter than it has been in 2,000 years or so
Mint Mumbai

Yes, the world is hotter than it has been in 2,000 years or so

A scientific study of tree rings confirms global warming is for real

time-read
3 dak  |
May 20, 2024
As a non-resident, is there a tax liability on exiting Indian MFs?
Mint Mumbai

As a non-resident, is there a tax liability on exiting Indian MFs?

I have been investing in mutual funds for the past four years. Last year, I moved to Dubai and am currently a non-resident Indian NRD). Say, if] exit all my mutual fund investments now, would I have zero tax liability? —Name withheld on request.

time-read
1 min  |
May 20, 2024
Mergers off but PSB privatization still on
Mint Mumbai

Mergers off but PSB privatization still on

T 'he Centre doesn't have any plan to merge public sector banks (PSBS) in FY25, though it will not ditch plans to privatize PSBs during the fiscal, two people aware of the matter said.

time-read
2 dak  |
May 20, 2024
Think Tesla Is In Trouble? Pity Even More Its Wannabe EV Rivals
Mint Mumbai

Think Tesla Is In Trouble? Pity Even More Its Wannabe EV Rivals

The combined market value of six prominent wannabes hit 400bn in 2021, but today they are worth 65bn

time-read
7 dak  |
April 09, 2024
Has The Growth Of Our Economy Translated Into Domestic Jobs?
Mint Mumbai

Has The Growth Of Our Economy Translated Into Domestic Jobs?

While the covid shock and other setbacks got in the way, data indicates that employment in India is on a firm recovery path

time-read
4 dak  |
April 09, 2024
Financial Sector Reforms Plan To Be Unveiled Post Elections
Mint Mumbai

Financial Sector Reforms Plan To Be Unveiled Post Elections

The govt will cut its stake in five PSBs this fiscal to comply with Sebi’s listing guidelines

time-read
2 dak  |
April 09, 2024
Generative AI Is Not Ubiquitous In The Business World-Not Yet
Mint Mumbai

Generative AI Is Not Ubiquitous In The Business World-Not Yet

While some AI tools racked up users, some firms are proceeding with caution, or not at all

time-read
4 dak  |
April 09, 2024
Wipro’s CEO switch was not about its share price
Mint Mumbai

Wipro’s CEO switch was not about its share price

Shareholder value data does not explain the firm's change on top. In a flux-filled field like infotech, business performance counts for more and Wipro's challenge still seems quite steep

time-read
2 dak  |
April 09, 2024
Mint Mumbai

How not to blow a major chunk of your travel budget on visas

Rejection of visas can impact your travel costs, especially when you have to cancel flight and hotel bookings

time-read
5 dak  |
April 09, 2024
Mint Mumbai

Wheat output at 106 mt to fall short of govt estimate: Survey

This decline in output comes at a time India confronts rising food inflation

time-read
1 min  |
April 09, 2024