Copper climbs to record high above $13,000 after strike at Chilean mine

Copper prices crossed $13,000 a ton for the first ‍time on Monday as concerns about supplies intensified following a strike at a Chilean mine, ⁠forecasts for deficits and low stocks in London Metal Exchange-approved warehouses. Benchmark copper on the London Metal Exchange had gained 4.6% to $13,042 a metric ton by 1709 GMT. Earlier it reached $13,045, beating the previous ‌record high ‌of $12,960 set on December 29. In the United States, Comex copper prices surged 4.6% to a record $5.9005 per lb ‌or $13,008 a ton. Traders said a strike at Capstone Copper's Mantoverde copper and gold mine in northern Chile had reinforced the theme of shortages. The Mantoverde mine is expected to produce between 29,000 and 32,000 metric tons of copper. While this is only a fraction of the global m

EXIM Bank starts 2026 with $1 billion bond issue: Bankers

The Export-Import Bank ‍of India (EXIM Bank) has accepted bids worth $1 billion for its dual-tranche longer-duration ⁠U.S. dollar-denominated bonds, two merchant bankers said on Tuesday, in the first such debt issue in the country for 2026. The ‌lender raised $500 ‌million through 10-year bonds at 5.00%, a spread of 85 basis ‌points over the 10-year U.S. Treasury yield, and a similar amount through the sale of 30-year bonds at 5.75%, a spread of 95 bps over the comparable U.S. yield The lender initially provided guidance on a spread of 115-140 bps, but strong demand ‌led to ‍aggressive pricing. EXIM Bank did not reply ‍to a Reuters query seeking comment. Analysts at ‌U.S.-based brokerage CreditSights said in a note that they expected the fair value for the issuance to be

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M&M XUV 3XO gets an electric makeover

A day after launching the Mahindra XUV 7XO at Rs 13.66 lakh, Mahindra & Mahindra on Tuesday launched the electric version of its subcompact SUV, the XUV 3XO EV. The model, priced at a starting range of Rs 13.89 lakh (ex-showroom), will be offered in two variants--AX5 and AX7L--with deliveries scheduled to begin from February 23, 2026. The launch marks Mahindra’s push to extend its high-volume XUV 3XO brand into electric mobility, targeting urban buyers looking for a daily-use electric SUV.Also Read: Mahindra XUV 7XO launched at Rs 13.66L with 540-degree camera, triple-screen and Level 2 ADAS The XUV 3XO EV is built on the same platform as the petrol and diesel XUV 3XO that was introduced in April 2024. The company said the ICE version has clocked close to 1.8 lakh sales so far. The e