India currently mines more iron ore than domestic industry requires to produce iron and steel. About 220 million tons got mined last year; only 75 million tons was needed within India. The rest 60 per cent was exported. Continue reading
A bottle of the best wine can cost over $5000, whereas an equivalent volume of crude oil (about a liter) sells for a dollar or less. The bottle of wine may taste a little rough, yet fine wine and crude oil have more in common than you may think. Their prices have risen and fallen in step in the last 15 years.