RBI Signals Policy Pause at 5.25% as Trade Breakthroughs Reinforce India’s Growth Outlook

Economic

Summary:

India’s central bank kept policy rates unchanged at 5.25%, signaling a likely prolonged pause as recent trade agreements with the U.S. and the EU ease external risks and reinforce confidence in India’s medium-term growth trajectory....

Policy Pause Reflects Stabilizing Macroeconomic Conditions

The Reserve Bank of India on Friday held its benchmark policy rate steady at 5.25%, in line with market expectations. Economists surveyed by Reuters had widely anticipated this outcome following an aggressive easing cycle in 2025, during which the RBI delivered cumulative rate cuts of 125 basis points. The decision suggests that policymakers now see less urgency to stimulate demand further through monetary easing.

RBI Governor Sanjay Malhotra emphasized that while external headwinds have intensified, the successful conclusion of trade deals with the U.S. and the EU has improved the broader economic outlook. This framing indicates a causal relationship between improved trade visibility and the central bank’s confidence in maintaining policy stability, rather than a purely domestic inflation driven decision.

Trade Deals Reduce External Growth Risks

The RBI’s assessment comes shortly after the U.S. confirmed a reduction in tariffs on Indian exports to 18%, a sharp reversal from the earlier 50% levy that had raised concerns about growth headwinds. This shift has eased pressure on India’s export outlook and reduced uncertainty around external demand, which the central bank had flagged as a risk in previous policy meetings.

The improvement in trade relations acts as a stabilizing factor rather than an immediate growth catalyst. While lower tariffs support export competitiveness, their impact on growth is expected to materialize gradually. As a result, the RBI’s decision reflects correlation between improving external conditions and reduced downside risks, rather than a direct short-term boost to output.

Focus Shifts to Transmission of Past Rate Cuts

With policy rates now on hold, attention is turning toward the effectiveness of earlier easing measures. The RBI indicated it will remain proactive in liquidity management to ensure sufficient funds within the banking system and support monetary policy transmission. Governor Malhotra highlighted the need to align financial conditions with the productive requirements of the economy, signaling a greater emphasis on operational tools rather than further headline rate changes.

Radhika Rao of DBS Bank noted that the central bank’s guidance appeared balanced, pointing toward a prolonged pause. Expectations of open market operations in the coming quarters suggest that liquidity injections, rather than rate cuts, will be the primary mechanism for influencing financial conditions. This reflects a causal link between bond market dynamics and policy implementation, as liquidity measures are used to offset constraints in credit transmission.

Bond Supply and Borrowing Shape Rate Outlook

Longer-term yields are expected to remain under pressure as bond supply rises. India plans to borrow 17.2 trillion rupees in the financial year starting April 1, an 18% increase from the revised estimate for the current year and above market expectations. This increased issuance is likely to limit downward movement in long-term yields, particularly as banks and insurance companies scale back purchases of government securities.

According to Goldman Sachs, the RBI is signaling a “lower for longer” rate environment. Its chief India economist suggested rates could remain unchanged for at least a year, with only a limited chance of further cuts under current conditions. This outlook reflects a correlation between fiscal borrowing needs and constrained monetary flexibility, rather than a deterioration in growth fundamentals.

Growth and Inflation Provide Policy Comfort

India’s economic outlook remains robust. Official projections indicate growth of 7.4% in the fiscal year ending March 2026, followed by expansion between 6.8% and 7.2% the year after. These figures reinforce India’s position as the world’s fastest growing large economy and provide the RBI with confidence to pause without jeopardizing momentum.

Inflation dynamics further support this stance. Consumer inflation rose modestly to 1.33% in December from 0.71% previously, remaining well below the central bank’s comfort threshold. The RBI expects inflation to average 2.1% in the current financial year, only marginally higher than earlier estimates. Stable food supply conditions and contained core inflation suggest that price pressures are unlikely to constrain policy in the near term.

Overall, the RBI’s decision to hold rates reflects a strategic pause rather than a shift toward tightening. Improved trade conditions, strong growth forecasts, and subdued inflation together create a policy environment where stability is preferred over further stimulus, with liquidity management taking center stage as the main policy lever.

Source: CNBC

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Economic

Commodity

Extreme Volatility Undermines Short-Term Price Discovery

According to CNBC, silver’s recent trading behavior reflects an unusually unstable market environment, with near-term volatility now exceeding 100%. This level of fluctuation suggests that prices are no longer being guided primarily by incremental changes in supply and demand, but instead by rapid shifts in positioning and sentiment. Since the start of the year, silver has experienced 11 separate price moves of 5% or more in either direction, an intensity that has severely weakened confidence among both institutional and retail participants.

Such repeated large swings make it difficult for the market to establish a reliable reference point for value. When volatility remains elevated for an extended period, price discovery becomes distorted, as participants hesitate to commit capital, reinforcing thin liquidity and amplifying subsequent moves.

Loss of Confidence Signals a Search for the Bottom

The question of where silver might find a bottom is less about identifying a specific price level and more about determining when volatility begins to subside. The current environment suggests that downside pressure is being driven not only by selling itself but also by the withdrawal of liquidity. As confidence deteriorates, market participants reduce position sizes, which increases sensitivity to marginal trades and creates exaggerated price responses.

This dynamic reflects a correlation between volatility and declining market depth rather than a direct causal link to a single macroeconomic trigger. In other words, silver’s instability is being intensified by the structure of the market rather than a sudden collapse in its fundamental use or long-term demand profile.

Short-Term Risks Dominate Despite Supportive Fundamentals

Major banks have acknowledged that near-term risks for silver remain skewed to the downside as long as volatility stays elevated. Sharp price swings discourage hedging activity and reduce the willingness of long-term investors to step in, delaying the formation of a durable base. This assessment reflects a short-term risk environment shaped by sentiment, leverage, and liquidity conditions rather than a reassessment of silver’s intrinsic role in the global economy.

At the same time, banks emphasize that longer-term fundamentals remain broadly supportive. Silver continues to benefit from its dual role as both an industrial metal and a store of value, particularly in sectors linked to energy transition technologies. This relationship is correlational rather than causal in the short run, meaning that supportive fundamentals do not automatically translate into price stability when speculative forces dominate trading behavior.

What Defines a Sustainable Bottom for Silver

A meaningful bottom is likely to emerge only when volatility compresses and price movements narrow into more consistent ranges. Historically, sustained recoveries in silver have followed periods where extreme swings gave way to calmer trading, signaling that forced selling and rapid position unwinding had largely run their course. Until such conditions materialize, attempts to identify a precise price floor remain speculative.

In this context, the market’s focus is shifting from price levels to volatility metrics themselves. A decline in the frequency of 5% daily moves may offer a more reliable signal of stabilization than any single support threshold. Until then, silver’s path is likely to remain erratic, reflecting a market still searching for equilibrium rather than one anchored by stable demand and supply dynamics.

Source: CNBC

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Economic

Silver Volatility Intensifies Under Thin Market Conditions

According to Bloomberg, silver once again demonstrated its vulnerability to liquidity shocks, plunging nearly 10% before rebounding sharply within the same trading session. Early Asian trading saw spot silver tumble toward $64 an ounce, only to reverse course and rise as much as 3.5%. This followed a dramatic 20% drop in the previous session, a move that erased all gains accumulated during January’s powerful rally. Despite the rebound, silver remains down roughly 40% from its all time peak reached on January 29, underlining the severity of the correction.

Gold showed relatively greater resilience, reversing earlier losses to post gains on Friday. This divergence reflects structural differences between the two metals rather than a fundamental shift in investor sentiment toward precious metals as a whole.

Structural Liquidity Gaps Drive Extreme Price Swings

Silver has historically exhibited sharper price movements than gold due to its smaller market size and thinner liquidity base. However, recent fluctuations stand out even by historical standards, marking the most volatile period since 1980. The speed and magnitude of the moves suggest more than routine volatility, pointing instead to a feedback loop between speculative positioning and deteriorating market depth.

As volatility rises, market makers typically widen bid ask spreads and reduce balance sheet exposure. This behavior weakens liquidity precisely when demand for it increases, creating a self reinforcing cycle in which price instability begets further instability. The result is a market environment where relatively modest flows can trigger outsized price reactions.

Speculative Positioning Unwinds After January Surge

The sharp reversal follows a multiyear bull run in precious metals that accelerated last month. That rally was supported by heightened geopolitical tensions, concerns surrounding the Federal Reserve’s institutional independence, and strong speculative participation, particularly from China. Investors accumulated significant exposure through leveraged exchange traded products and call options, amplifying upside momentum during January.

This positioning proved fragile. Silver recorded its largest ever single day drop on January 30, while gold suffered its steepest decline since 2013. Since then, trading conditions have remained highly unstable, reflecting a market in the process of rapidly shedding risk.

Chinese Demand Retreats and Removes Key Support

A notable contraction in Chinese buying over the past week has further undermined silver’s ability to stabilize. Open interest on Shanghai Futures Exchange silver contracts has fallen to the lowest level in a year, signaling widespread position unwinding rather than short term profit taking. Seasonal factors have compounded this effect, as investors traditionally reduce exposure ahead of the Lunar New Year holiday beginning February 16.

Chinese silver prices have also shifted to a discount relative to international benchmarks. This development suggests weaker domestic demand rather than purely global price pressure, reinforcing the idea that the recent selloff reflects both structural and regional dynamics.

Gold Holds Firm While Confidence in Hedging Shifts

Compared with silver, gold’s deeper and more liquid market has absorbed the volatility more effectively. Several banks and asset managers reiterated bullish long term views on gold during the week, emphasizing its structural role in portfolios. Some institutional investors who exited positions before the selloff have indicated readiness to reenter once conditions stabilize, and major asset managers continue to see gold’s longer term upward trend as intact.

At the same time, the extreme volatility across precious metals has prompted renewed debate about their effectiveness as risk hedges. In a notable departure from traditional Wall Street thinking, strategists at JPMorgan Chase suggested that Bitcoin may offer a more attractive long term alternative to gold, a view that underscores evolving perceptions of safe haven assets.

Broader Market Snapshot

As of 10:45 a.m. in Singapore, spot silver was up 1.9% at $72.28 an ounce, while gold rose 0.9% to $4,823.44. Platinum and palladium remained under pressure, extending recent losses. The Bloomberg Dollar Spot Index was broadly unchanged, indicating that currency movements were not the primary driver of precious metals volatility. Meanwhile, Bitcoin dropped 9.38%, falling below the $70,000 threshold and adding to the sense of cross market instability.

Taken together, recent price action suggests that liquidity conditions and positioning dynamics, rather than shifts in long term fundamentals, are dominating short term market behavior. Until liquidity improves and speculative exposure stabilizes, both precious metals and digital assets are likely to remain vulnerable to abrupt and amplified price swings.

Source: Bloomberg

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Economic

Shift In Strategy As Yield Environment Changes

Japan’s biggest lenders are signaling a potential turning point in their long-standing retreat from Japanese government bonds. After years of reducing exposure due to ultra-low interest rates, both Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group say they are ready to rebuild JGB holdings as rising yields begin to offer more attractive returns.

Over the past decade, the banks had steadily trimmed their bond portfolios because returns were compressed under the Bank of Japan’s prolonged accommodative policy. That backdrop is now shifting, as higher interest rates improve the income outlook for government debt, prompting management teams to reassess their positioning.

Recent Yield Volatility And Market Stabilization

JGB yields climbed sharply from November, a move linked to fiscal expansion expectations following spending plans outlined by Prime Minister Sanae Takaichi. The surge weighed on bond valuations, pushing unrealized losses higher across bank balance sheets. However, market conditions have calmed in recent weeks.

Demand at the last four government debt auctions has been resilient, and the 30-year JGB yield has fallen by 32 basis points from its January 20 record high of 3.88%. This easing has helped stabilize expectations and reduced immediate pressure on bond prices.

Takayuki Hara, managing director and head of the CFO office at MUFG, said the bank would move carefully but sees scope to rebuild positions as long-term rates show signs of peaking.

Unrealized Losses Remain A Key Constraint

Despite the improved outlook, valuation losses remain substantial. MUFG reported unrealized losses of 200 billion yen on its bond portfolio at the end of the year, sharply higher than the 40 billion yen recorded at the end of March. The bank noted that sales of longer-duration bonds between September and December helped limit further damage.

SMFG faces a similar situation. Its unrealized losses on JGBs more than doubled to 98 billion yen over the nine months to December. Management acknowledged the impact of rising yields on bond prices but emphasized plans to increase holdings gradually while monitoring market conditions.

The experience highlights a structural challenge for banks: when yields rise, bond income improves over time, but the immediate effect is a decline in the market value of bonds purchased at lower rates. This relationship is a valuation effect rather than a deterioration in credit quality.

Duration Strategy And Cautious Re-Entry

In recent years, Japan’s megabanks have favored short-duration bonds to limit interest rate risk. Mizuho Financial Group, the third-largest lender, reported an average remaining maturity of just 1.8 years for its JGB holdings at the end of December.

Analysts expect this cautious stance to persist in the near term. Further rate hikes by the Bank of Japan and concerns over Japan’s large public debt load could still push yields higher, making banks reluctant to add longer-duration exposure too quickly.

Some market participants see a clearer entry point later. Toshinobu Chiba of Simplex Asset Management said the JGB yield curve could continue to rise, with the 10-year yield potentially reaching 2.5%, compared with its current level of around 2.195%. Such a move could offer a more compelling risk-return balance for banks.

Earnings Momentum Supported By Higher Rates

The broader rate environment has already boosted profitability across the sector. The Bank of Japan raised rates for the first time in 17 years in March 2024 and has delivered three additional hikes since, taking the policy rate to 0.75%. That shift has helped Japan’s megabanks forecast record profits for the current financial year.

Equity markets have reflected this improvement. The Topix banking index has doubled since the initial rate hike in March 2024, far outperforming the broader Topix index’s 33% gain.

Looking further ahead, analysts see scope for higher yields on longer-duration JGBs to support earnings growth. Goldman Sachs analyst Makoto Kuroda recently raised profit forecasts for the 2028 financial year for MUFG, SMFG, and Mizuho, citing higher rates, stronger yields, and a weaker yen. Net profit estimates were lifted by 20%, 11%, and 21% respectively.

For Japan’s largest banks, the renewed interest in JGBs reflects a calculated trade-off. While unrealized losses remain a near-term headwind, management teams appear increasingly focused on the longer-term income potential of higher-yielding government bonds. If yields stabilize and policy tightening progresses gradually, JGBs may once again become a core pillar of megabank balance sheets, supporting earnings momentum in the years ahead.

Source: TradingView

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Economic

Cryptocurrency

Global Risk Sentiment Turns Cautious

U.S. futures and Asian equities traded mostly lower on Friday, extending losses from Wall Street as another wave of selling hit technology stocks. The pullback reflected growing concern over whether massive artificial intelligence investments by major technology firms will deliver returns quickly enough to justify current valuations. That uncertainty spilled across regions, pushing investors toward a more defensive stance.

Bitcoin also weakened alongside equities, reinforcing the perception that cryptocurrencies are behaving more like high-risk assets than safe havens during periods of market stress.

Bitcoin Gives Back Trump-Era Gains

Bitcoin dropped about 9% in early Asian trading, hovering just under $65,000 after briefly falling more than 12% below $64,000 a day earlier. The move leaves the cryptocurrency trading at roughly half of its record level above $124,000 reached in October. The entire rally that followed the election victory of Donald Trump has now been erased.

The decline reflects dimming enthusiasm as investors reassess the impact of tighter financial conditions, fading momentum, and heavy positioning built up during the earlier rally. Rather than acting as a hedge, Bitcoin has moved in tandem with risk assets during the technology-led sell-off.

Mixed Performance Across Asian Markets

Asian equity markets showed broad weakness, though the degree varied by country. Japan’s Nikkei 225 managed to recover modestly, rising 0.5% as technology-related stocks rebounded from earlier losses. SoftBank Group gained nearly 2%, while Tokyo Electron advanced more than 3%. Political developments also drew attention, with Japan heading into a general election in which Prime Minister Sanae Takaichi is seeking a stronger mandate.

In contrast, South Korea’s Kospi fell 1.7%, weighed down by technology shares. Samsung Electronics declined nearly 1%, while SK Hynix also traded lower. Hong Kong’s Hang Seng Index dropped 1.2%, while mainland China’s Shanghai Composite was little changed. Australia’s S&P/ASX 200 slid 1.6%, reflecting weakness across multiple sectors, and Taiwan’s Taiex edged down slightly.

Wall Street Losses Set the Tone

The negative lead came from U.S. markets, where all three major indexes closed sharply lower. The S&P 500 fell 1.2% for its sixth loss in seven sessions, while the Dow Jones Industrial Average dropped a similar amount. The Nasdaq Composite led declines with a 1.6% fall as technology stocks remained under pressure.

Several high-profile names weighed on sentiment. Qualcomm sank 8.5% despite beating revenue expectations, as investors focused on cautious outlook signals. Alphabet slipped as markets reacted to its heavy AI spending plans. Amazon fell sharply in after-hours trading after announcing a major increase in capital expenditure focused on AI and infrastructure.

Concerns were further amplified by developments in the AI space, including new tools from Anthropic that raised fears of disruption across traditional software and services, adding to pressure on tech valuations.

Commodities And Currencies Reflect Volatility

Safe-haven assets also showed sharp swings. Gold prices fell around 1% to about $4,843 per ounce after nearing $5,600 last week, while silver dropped more than 6% to roughly $71 per ounce following extreme volatility earlier in the week. Oil prices edged higher, with U.S. crude trading above $63 a barrel and Brent near $68, suggesting energy markets were less affected by the equity sell-off.

In currency markets, the U.S. dollar weakened slightly against the Japanese yen, while the euro edged higher against the dollar, reflecting shifting risk sentiment rather than a clear macroeconomic trigger.

The synchronized decline in technology stocks, cryptocurrencies, and several Asian equity markets highlights how tightly linked global risk assets have become. With uncertainty lingering over AI investment returns and financial conditions still restrictive, markets remain vulnerable to further volatility. For now, Bitcoin’s slide alongside equities underscores that investor confidence, rather than isolated asset-specific factors, is driving the current market mood.

Source: Bloomberg

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Economic

Commodity

Prices Break Key Threshold Amid Prolonged Downtrend

Iron ore futures dropped below the $100-a-ton mark, extending their decline for a fourth consecutive week, the longest losing streak since June. Futures for 61% iron-content material fell as much as 1.1% to $99.55 a ton in Singapore trading, underscoring persistent downside pressure. This move places iron ore back below a psychologically important level that had last been breached in August, although that earlier dip was based on higher-grade 62% material.

The price weakness reflects not a sudden shock but a continuation of deteriorating fundamentals, as demand indicators fail to offset ample supply.

China Demand Softens Ahead of Lunar New Year

Demand conditions in China weakened as steel producers scaled back activity ahead of the week-long Lunar New Year holiday starting in mid-February. Hot-metal output at Chinese mills grew more slowly than expected, signaling muted steel production momentum at a time when restocking activity has already ended. Seasonal restocking typically offers price support, but its conclusion has removed a key buffer against falling prices.

This slowdown is causally linked to the timing of the holiday and broader caution among steelmakers, rather than a temporary logistical disruption.

Rising Inventories Reinforce Bearish Fundamentals

Iron ore stockpiles at Chinese ports and mills continued to climb, reinforcing the perception of an oversupplied market. Port inventories rose for a tenth straight week, increasing 0.6% to 160 million tons, according to data from a sample of ports. This marks the highest level since 2022 and brings holdings close to the record reached in 2018.

The accumulation of inventories reflects both slower downstream consumption and steady inflows of seaborne supply. It may also partly reflect the impact of a pricing dispute between BHP Group and China Mineral Resources Group, which has affected shipment flows and stock management decisions.

Supply Growth Adds Structural Pressure

On the supply side, iron ore availability continues to expand. Major miners in Australia and Brazil have increased production, while additional volumes are expected as new projects come online. Notably, the Simandou project in Guinea is scheduled to ramp up this year, adding further supply to the seaborne market.

Together, these developments point to a structural oversupply situation rather than a short-term imbalance, amplifying downward pressure on prices.

Weather Disruptions Offer Limited Relief

There were some short-term logistical developments, with Pilbara Ports in Australia announcing that berths at key export hubs such as Port Hedland, Dampier, and the Ports of Ashburton would be cleared due to an approaching storm. While gales and faster-than-expected storm development could temporarily affect shipments, the market reaction suggests such disruptions are insufficient to materially tighten supply under current conditions.

With weak steel demand, elevated inventories, and expanding global supply, iron ore market fundamentals remain under pressure. The fall below $100 highlights how the balance of risks continues to skew to the downside unless a meaningful rebound in Chinese steel demand or a sustained supply constraint emerges in the coming months.

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Central Bank

Data Interpretation

Remarks of Officials

Forex

Economic

The Reserve Bank of India (RBI) has held its key policy rate steady at 5.25%, signaling growing confidence in the nation's economic trajectory after the United States scaled back trade tariffs.

The decision to maintain the rate at its lowest level was widely anticipated, aligning with the consensus from a Reuters poll of 70 economists. It follows a 25-basis-point cut from 5.5% at the central bank's previous meeting in December.

Tariff De-escalation Eases Pressure for Easing

A key factor behind the central bank's pause is the recent breakthrough in U.S.-India trade relations. The move comes just days after Washington announced it would reduce tariffs on Indian exports to 18%. This provides significant relief for India, which had been contending with cumulative tariffs of 50% on goods sent to the U.S., its largest trading partner, since August of last year.

Faced with those trade headwinds and a broader economic slowdown, the RBI had aggressively cut its key policy rate by 125 basis points over 2025 to stimulate growth. This easing cycle was supported by record-low inflation and government policy reforms, including changes to income tax brackets and lower consumption taxes.

Madhavi Arora, chief economist at Emkay Global, noted the improved environment. "The monetary policy committee faces a more supportive external backdrop, aided by the U.S.-India trade resolution, which should help stabilize the current account, FPI flows, and [the rupee]," she wrote in a note that correctly predicted the rate hold.

Economic Growth Forecasts Strengthen

The improved trade outlook reinforces positive domestic data. India's official statistics office projects the economy will grow 7.4% in the fiscal year ending in March, a notable increase from the 6.5% growth recorded in the previous fiscal year.

This forecast is backed by recent performance, with the economy expanding 8.2% in the quarter ending in September, accelerating from 7.8% growth in the prior quarter.

Inflation Remains Well Below Target

While the RBI is focused on growth, its mandate also requires maintaining price stability. On this front, the central bank has ample room to maneuver.

Although retail inflation rose from 0.71% to 1.33% in December, it remains significantly below the RBI's 4% target. In its last meeting, the central bank forecasted that inflation for the fiscal year through March would come in at 2%.

Rupee Rallies on Improved Trade News

The positive shift in the trade landscape has already had a tangible impact on currency markets. The Indian rupee, which had previously fallen to record lows amid foreign investor outflows, appreciated by more than 1% the day after the U.S. announced the tariff reduction. The RBI is also known to intervene in currency markets to manage volatility when necessary.

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RBI Signals Policy Pause at 5.25% as Trade Breakthroughs Reinforce India’s Growth Outlook

Policy Pause Reflects Stabilizing Macroeconomic Conditions

Trade Deals Reduce External Growth Risks

Focus Shifts to Transmission of Past Rate Cuts

Bond Supply and Borrowing Shape Rate Outlook

Growth and Inflation Provide Policy Comfort

Source: CNBC

Silver Volatility Breaks the 100% Mark as Markets Search for a Price Floor

Extreme Volatility Undermines Short-Term Price Discovery

Loss of Confidence Signals a Search for the Bottom

Short-Term Risks Dominate Despite Supportive Fundamentals

What Defines a Sustainable Bottom for Silver

Source: CNBC

Liquidity Shock Sends Silver Into Extreme Volatility While Bitcoin Slides Below $70,000

Silver Volatility Intensifies Under Thin Market Conditions

Structural Liquidity Gaps Drive Extreme Price Swings

Speculative Positioning Unwinds After January Surge

Chinese Demand Retreats and Removes Key Support

Gold Holds Firm While Confidence in Hedging Shifts

Broader Market Snapshot

Source: Bloomberg

Japan Megabanks Signal Return to JGBs as Yield Outlook Improves Despite Valuation Losses

Shift In Strategy As Yield Environment Changes

Recent Yield Volatility And Market Stabilization

Unrealized Losses Remain A Key Constraint

Duration Strategy And Cautious Re-Entry

Earnings Momentum Supported By Higher Rates

Source: TradingView

Bitcoin Slides as Tech Rout Spreads From Wall Street to Asia

Global Risk Sentiment Turns Cautious

Bitcoin Gives Back Trump-Era Gains

Mixed Performance Across Asian Markets

Wall Street Losses Set the Tone

Commodities And Currencies Reflect Volatility

Source: Bloomberg

Iron Ore Slips Under $100 as Oversupply and Seasonal Weakness Deepen Pressure

Prices Break Key Threshold Amid Prolonged Downtrend

China Demand Softens Ahead of Lunar New Year

Rising Inventories Reinforce Bearish Fundamentals

Supply Growth Adds Structural Pressure

Weather Disruptions Offer Limited Relief

RBI Holds Interest Rates as US Tariff Relief Boosts Outlook

Tariff De-escalation Eases Pressure for Easing

Economic Growth Forecasts Strengthen

Inflation Remains Well Below Target

Rupee Rallies on Improved Trade News

Risk Disclosure