![]() ![]() The message came after the latter attended a series of meetings in Washington. Last week, the White House issued a Joint Statement from President Biden and India’s Premier Narendra Modi. This month, a significant development occurred that is sure to act as an accelerator to growing trade volumes. Read here New Agreement Could Strengthen U.S. See how MetalMiner’s should-cost models can help you generate more revenue. Therefore, translating US or European prices to India when modeling cost build-ups results in significantly unbalanced outcomes. With protective tariffs and competitive low-cost domestic producers of both ferrous and non-ferrous metals, the Indian domestic metals market operates on its own dynamics. The demand for Indian metal price information stems mainly from companies purchasing components or finished goods. Conversely, India continues to import higher-value aerospace, defense, and automotive grades from the US. In many cases, the US imports lower-value products for further treatment. Nonetheless, imports and exports within these two categories still amount to billions of dollars. This is somewhat surprising considering India is a major producer and exporter of aluminum and steel. Meanwhile, specific metal categories like aluminum, iron and steel, copper, nickel, lead, and tin represent smaller volumes. Similarly, these categories feature prominently in exports from the USA to the subcontinent.įuels, oils, and distillate products constitute the largest export category. When examining the category data, it becomes clear that pearls, precious metals, and coins dominate U.S. import/export data illustrates why: A Growth in Mutually-Beneficial TradeĪpart from a pandemic-induced dip during the lockdown, both imports and exports have steadily risen throughout the decade. ![]() ![]() New clients in particular are especially focused on Indian data and commodity trading news. From metal prices and indices to price forecasts, the attention to Indian data saw notable increases in 2023. Reading the article, we can understand why MetalMiner’s clients continue to demonstrate a growing interest in India-specific data. The primary question is if, how, and when this will affect commodity trading.Ĭonsidering the US’s disengagement from China and the increasing tension over China’s aspirations in Southeast Asia, it’s natural that India and the US would seek closer ties. With Biden firmly focus on Europe, the relationship has now become quite frosty. However, it has significantly weakened since the days of Blair and Bush Jr. Most people acknowledge that this relationship originated during the days of Churchill and Roosevelt and further gained strength during the Thatcher and Reagan era. The article primarily targets a British audience, but still playfully mock the Brits’ obsession with the “special relationship” between the UK and US. In a recent interview, Gideon Rachman, Chief Foreign Affairs Commentator at the Financial Times, explored the growing relationship between the U.S. ![]()
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