Day: October 28, 2022

Zinc Prices Could Slide Further

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Since the beginning of 2022, tin prices have steadily declined. Indeed, such was the case for many metal prices after the March peak. However, it’s possible tin could see a reversal in the long term. As it begins to reach lower support ranges indicated by September 2020’s low, we could see tin start to push back towards the upside. For the time being, some remain optimistic that tin will indeed bounce back in the long term. Currently, tin is already showing signals of bouncing back in the short term. After…

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The Russian Oil Price Cap Could Be Set Between $63 And $64 Per Barrel

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Western governments are in the final stages of preparing for the implementation of a price cap on Russian oil exports, Reuters has reported, noting that the price range for the cap has yet to be set. According to one unnamed source who spoke to Reuters, the most likely range would be between $63 and $64 per barrel—the historical average price for crude. However, the report also included a warning from the World Bank that for the cap to be effective, developing economies need to be on board. At the same time,…

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China urged to fast-track projects

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Pakistan on Thursday urged China to put $18.5 billion worth of five projects on the fast track, as it feared that any further delay would cause collapse of the rail system in one year and delay 3,100 megawatts of electricity generation. The plea was made by Minister for Planning and Development Ahsan Iqbal during the 11th Joint Cooperation Committee (JCC) meeting. Iqbal has chaired eight out of the total 11 JCC sessions. China-Pakistan Economic Corridor’s (CPEC) JCC meeting ended without any new announcement and it discussed the “missed opportunities” and…

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Chinese firm mulls $4.5bn investment in refinery project

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china pakistan

Chinese company East Sea Group Limited has planned to invest $4.5 billion to build a refinery plant with an annual refining capacity of 8 million tonnes at Gwadar, its CEO Fang Yulong said in a think tank session of Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) on Thursday. We will build an international Gwadar petroleum storage and transportation trading center. The project will attract the world’s major oil trading companies and oil companies to Pakistan Gwadar Port,” Yulong, who is also senior vice president of PCJCCI, stated. He…

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ECC Okays Concessionary RLNG Tariff for Five Export-Oriented Sectors

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Ishaq Dar

The Economic Coordination Committee (ECC) of the cabinet on Thursday approved the continuation of concessionary RLNG tariff of $9 per MMBTU for five export-oriented sectors for the current fiscal year 2022-23. The ECC also granted approval to the Ministry of Interior to surrender Rs1 billion funds allocated for the Rawat-Faizabad Metro Bus in favour of the Ministry of Housing & Works for execution of five development schemes. This was done for winning the support of political allies. The schemes include 65 development schemes of Tharparkar at the cost of Rs450…

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