Market News Today

Japan's copper scrap market is a competitive seller's ecosystem. Ex-China buyers need long-term partnerships. Japan leads in quality ($8,112/mt average export price). Domestic smelter consumption rises, while exports and processing usage (down 8% by 2025) decline, tightening global supply.

India and six nations flagged UK's new steel import curbs at WTO, reducing tariff-free quotas by 60% from July 1, with a 50% tariff on excess. This delays the India-UK trade pact, seeking "least trade-restrictive" solutions.

Government assures adequate fuel supply amid surging demand at state-run pumps. Private retailers saw sales plunge up to 77% in April due to higher prices, while bulk buyers shifted to retail, causing state companies losses.

The UK will mirror EU rules, banning fuels made from Russian oil in third countries. It offers flexibility for refiners separating crude streams and exemptions for net exporters.

PVUNL's Patratu project capacity rose to 1,600 MW, pushing NTPC group past 90 GW. 85% power aids Jharkhand's energy security. Unit-3 targeted FY27.

Ahmedabad Municipal Corporation launched a pedestrian safety plan on approximately 90 roads, installing railings to combat footpath encroachment and improve traffic. This initiative aims for safer walking conditions and sustainable urban mobility.

Bihar's Amadabad bridge is unusable due to missing approach roads, isolating flood-prone villages. Two years after work began, this causes severe mobility disruptions and safety risks ahead of July's monsoon, highlighting project delays.

Ahmedabad's workshop highlighted grassroots innovation's potential for India's rural economy, focusing on employment, climate resilience, and decentralised growth. Experts stressed connecting local solutions with formal systems and funding to reduce urban-rural disparities.

Ahmedabad is boosting its pharma research via new long-term academic-industry collaborations, expanding drug discovery and scientific training. This signals India's shift towards innovation-led biomedical research, aiming for higher-value segments and economic growth, while prioritizing accessibility and ethical research.

Ahmedabad launched a smart traffic system pilot using real-time digital monitoring and AI/ML to manage congestion, enhance road safety, and improve urban planning on key corridors. It aims for faster responses and reduced emissions.