Metals News

Rise in food inflation to 13.39% causes alarm for policy makers on the back of losses in kharif output while government is pinning hopes on increased rabi output. RBI's gold buying has spread positive sentiments and NMCE has now launched a futures aimed at gold retailers

The duties on $2.6 billion ($2.9 billion) in annual imports of the pipes, used in oil and gas wells, will be 36.5 per cent for the 37 largest exporters, the Commerce Department said in a preliminary decision announced by email. The tariffs will be on top of separate duties announced in September averaging 21 per cent to counter subsidies to Chinese producers.

Amidst a construction boom, the United Arab Emirates (UAE) imported cast iron rods worth $6.77 billion in 2008, a 237 percent increase over last year.