Metal & mining stocks to face headwinds as China's export glut weighs on prices https://ift.tt/6Tat8uy said Indian steel mills cut HRC (hot rolled coil) prices for August by ₹3,500 per tonne to ₹58,500 from the previous month and CRC (cold rolled coil) by ₹2,500 per tonne to ₹66,000. The government in May had slapped an export duty of 15% on various steel products and imposed a 45% duty on iron ore pellets to rein in the prices.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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