India can do without low grade Chinese equipment - BHEL

With the government admitting the Eleventh Plan power generation target won’t be met, the country’s biggest manufacturer of power equipment Bharat Heavy Electricals Ltd has invited criticism. Outgoing CMD Mr K RAVI KUMAR in an interview defended the company and lambasted Chinese suppliers for poor quality. Q. What has been your experience as chairman, especially since BHEL has faced criticism for the shortfall in power generation targets? A - Today three out of four companies are lifting equipment from BHEL. 75% of the power generated in the...

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Gyrations in ship breaking steel scrap and plate cutting prices at Alang

The ship breaking scrap prices at Indian graveyard at Alang on the Western coast of India exhibited uncanny gyrations during September in tandem with the happenings in the international shipping industry and scrap market. Product Size 01-Sep 08-Sep 15-Sep 22-Sep 29-Sep Plate cuttings 1” 19800 19100 20100 20400 19500 Ships Mixed 15500 15100 15700 15500 15500 Prices in INR per tonne Excluding excise duty and VAT Source: www.steelprices-india.com Shipping heavyweights are keeping the market agog with a perennial supply of vessels for dismantling...

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End of steel market era at George Town in Chennai

BL reported that as the deadline of September 30th 2009 set by the Supreme Court for shifting the iron and steel market from George Town in north Chennai ended on Wednesday, several merchants were in the process of shifting their establishments to Sathangadu near Manali. It was a race against time as Tamil Nadu Electricity Board had issued notices stating that it would cut off power supply to their shops in George Town if they did not shift all operations. The Commercial Tax Department has also issued notices sometime ago, warning them that their...

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Plate cuttings price remain unchanged at Alang

Product Grade Size Change Ship Scrap Melting Mixed 0 Plate cuttings Rolling 1" 0 Change is on September 30th as compared to September 29th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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India committed to consolidate strategic partnership with Russia

Mr Anand Sharma commerce and industry minister during his meeting with the Russian Prime Minister in Moscow reaffirmed India’s abiding commitment to nurture and consolidate the strategic partnership with Russia. In his meeting with Mr Putin, the Minister held discussions on a wide range of bilateral issues including on means to diversify and deepen the economic engagement with Russia. Mr Sharma also held bilateral meetings with Minister for Economic development Ms E Nabiullina and launched the third India-Russia Forum on trade and investment....

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Centre identifies 3 sites for second UMPP in Gujarat

In a move that will ease power supply in the state, Gujarat is set to get its second ultra mega power project soon. With the state's first UMPP project coming up at Mundra in Kutch, as many as three locations have been identified by the central government for the development of second UMPP in Gujarat. Mr Sushil Kumar Shinde union minister of power told reporters that "Coastal area of Chhara in Junagadh, Jamnagar and Kandla have been identified as the possible sites for development of second ultra mega power plant in Gujarat.” He said that Gujarat...

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Siemens wins INR 360 crore order from PGCIL

Siemens has won two orders worth Rs 360 crore from PGCIL for setting up turnkey 765 kV substation each at Gaya in Bihar and Ranchi in Jharkhand. The scope of work includes design, engineering, manufacturing, supply, installation, civil works, testing and commissioning of the complete substations on turnkey basis. PGCIL is installing these substations under the Transmission System associated with Damodar Valley Corporation and Maithon Right Bank Projects. DVC and Maithon Right Bank is the hub for power generation in Eastern India with approximate...

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Wide steel plate price falls in Indore on Sep 30

PLTS GR B 12-20x2.5 Location Change Mumbai 0 Chennai 0 Kolkata 0 Delhi 0 Raipur 0 Kanpur 0 Rudrapur 0 Ahmedabad 0 Indore -178 Bangalore 0 Change is on September 30th as compared to September 29th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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JSW Steel gets approval for Vijayanagar plant expansion

It is reported that JSW Steel has received the Karnataka government's nod to increase capacity at its Vijayanagar plant by 60% to 16 million tonne per annum. Addition of 6 million tonne per annum would make the facility the largest single location steel plant in India. Mr Seshagiri Rao joint MD and group CFO told DNA Money that "We have got the approval from the Karnataka government to increase the capacity to 16 million tonne per annum. However, we are focusing only on a 10 mtpa expansion right now, which will be completed by March 2011." Mr...

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Steel melting scrap price decreases in Mumbai on Sep 30

Melting scrap 80:20 HMS Location Change Mumbai -300 Chennai 0 Kolkata 0 Mandi 0 Kandla 0 Kanpur 0 Rudrapur 0 Hyderabad 0 Change is on September 30th as compared to September 29th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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Know domestic steel prices in India on daily basis

A steel producer, user or trader, however big or small, is always concerned about steel prices as steel is normally a big ticket item, but there is no bench mark available to steel buyers to compare their transaction prices. Steel has been very volatile in last 11 months and has effected many users in a very severe way making it all the more important to track the prices and trends. www.steelprices-india.com is a new portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a...

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Pencil ingot price movement in major places on Sep 30

Pencil ingot Location Change Mumbai -200 Kolkata 0 Mandi 0 Raipur -370 Kanpur 0 Rudrapur 0 Ahmedabad -200 Ghaziabad -300 Muzzafarnagar -267 Hyderabad 0 Raigarh 0 Durgapur 0 Nagpur -185 Jamshedpur 0 Jaipur 100 Rourkela 0 Bhiwari 0 Change is on September 30th as compared to September 29th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid...

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Indian steel prices continue on downward trend on Sept 30

The Indian Long Product Price Index ILPPI went down by 23 points on September 30th 2009 whereas Indian Flat Product Price Index IFPPI went down by 1 point. The overall Indian Steel Price Index INDSPI decreased by 13 points. Class 29-Sep 30-Sep Change % ILPPI 6326 6303 -23 -0.4% IFPPI 7541 7540 -1 0.0% INDSPI 6905 6892 -13 -0.2% IPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 29-Sep 30-Sep Change % PI - TMT 6023 6003 -20 -0.3% PI - WRC 6850 6822 -27 -0.4% PI - Angle 6010...

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SAIL DSP goes live with ERP

BL reported that Steel Authority of India Ltd’s Durgapur Steel Plant is going live with enterprise resource planning from today. Mr V Shyamsundar MD of DSP told reporters that DSP is the second SAIL plant to implement enterprise resource planning, the first being Bhilai Steel Plant in April this year. He said that “This is as per the decision taken by SAIL’s corporate office in 2004.” The implementation of ERP comprising six modules cost DSP INR 35 crore and took 15 months. Hewlett Packard was the implementation partner who covered key functions...

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Change of guard at TATA Steel

TATA Steel has announced following appointments wef October 1st 2009 1. Mr B Muthuraman as Non Executive Vice Chairman 2. Mr HM Nerurkar as the MD of TATA Steel Limited 3. Mr Kirby Adams as MD &CEO of TATA Steel Europe Limited TATA Steel in a filing with BSE said that “In accordance with Clause 30 of the Listing Agreement, we have to inform you that Mr B. Muthuraman, the present Managing Director of the Company will retire from his Executive position and from the Board on 30th September 2009. The Board of Directors of the Company has decided...

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Indian steel price index reflects weakness in HR steel

The Indian Long Product Price Index ILPPI went up by 11 points on September 29th 2009 points whereas Indian Flat Product Price Index IFPPI went down by 17 points. The overall Indian Steel Price Index INDSPI decreased by 3 points. Class 25-Sep 29-Sep Change % ILPPI 6315 6326 11 0.2% IFPPI 7559 7541 -17 -0.2% INDSPI 6907 6905 -3 0.0% IPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 25-Sep 29-Sep Change % PI - TMT 6016 6023 7 0.1% PI - WRC 6839 6850 11 0.2% PI - Angle 5990...

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Investors meet in Singapore for NELP VIII and CBM IV

Mr Jitin Prasada minister of state for petroleum and natural gas inaugurated the Investors’ meet for the eighth bid round of New Exploration Licensing Policy and fourth round of Coal Bed Methane Policy at Singapore on September 28th 2009. The Investors meet was held after a series of promotional road shows organized by Government of India domestically and overseas, first at Mumbai on August 8th 2009, second at Houston on August 2009 20th, third at Calgary on August 24th 2009, fourth at London on September 8th 2009, fifth at Perth on September...

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Indian Railways to set up help booths at airports

In view of ongoing Air travel disruption in the country, Indian Railways have decided to set up train passenger reservation counters and May I Help You booths at all important airports throughout the country for the convenience of stranded passengers who want to travel by trains. Ministry of Railways has also given instructions to all its Zonal Railways to give wide publicity through all possible means including press and media for information of general public about the availability of a large number of vacant berths/seats available in important...

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Punjab to get 100 MW from West Bengal

BS reported that Punjab State Electricity Board has tied up with the West Bengal government for procuring 100 MW of power on the basis of banking arrangement a step which could ease the problem of power shortage to some extent in the state. In addition to it, the board would also get further 100 MW of energy after getting a corridor from West Bengal. Disclosing this spokesman said that with these arrangements, PSEB would relax the duration of power cuts from 8 to 9 hours to 4 hours in the domestic sector in the state. The spokesman further informed...

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Sadbhav Engineering bags highway order in Jharkhand

Infrastructure firm Sadbhav Engineering said that it has bagged orders worth INR 477 crore from Jharkhand Road Projects Implementation Company for road construction related works. Sadbhav in a filing to the Bombay Stock Exchange said that they have bagged two orders aggregating INR 477 crore for developing a part of Ranchi ring road stretch. (Sourced from www.steelguru.c...

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India Cements to set up two power plants

India Cements said it will set up two thermal power plants of about 50 MW capacity each in Tamil Nadu and Andhra Pradesh for internal consumption. India Cements in a filing to the BSE said that the company has decided to set up two thermal power plants of about 50 MW each in Tamil Nadu and Andhra Pradesh. As per report the company would invest INR 500 crore on the power plants. The power generated would be used for internal consumption. Sourse From: http://www.steelguru.com/news/index/2009/09/30/MTEzOTU2/India_Cements_to_set_up_two_power_pla...

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ABG Shipyard to raise borrowing limit

BS reported that Indian shipbuilding company ABG Shipyard, has sought its shareholders' permission to raise its borrowing limit to INR 12,000 crore from the earlier borrowing limit of INR 7,500 crore. The company in its annual report said that “Taking into consideration the requirements of additional funds to meet the cost of company's capital expenditure program and also additional working capital requirement, the consent of the shareholders is sought to enable the Board of Directors to borrow the money to the extent of INR 12,000 crore.” The...

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Macroeconomic indicators - No economic crisis in India - PM

According to Dr Manmohan Singh Prime Minister of India, there is no economic crisis in the country. Dr Singh said that "There is no economic crisis in India. It is certainly true that as a sequel to the global economic crisis our exports have suffered that has affected the rate of growth, but even then our economy is growing at a rate of six and half per cent. Therefore there is no crisis, as such in India.” However the Prime Minister acknowledged that in a highly interdependent world, India has a stake in the stability and growth of the world...

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Wide steel plate price up by INR 178 a tonne in Raipur

PLTS GR B 12-20x2.5 Location Change Mumbai 0 Chennai 0 Kolkata 0 Delhi -370 Raipur 178 Kanpur 0 Rudrapur -267 Ahmedabad -185 Indore 0 Bangalore 0 Change is on September 29th as compared to September 25th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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Veer Energy plans 200MW wind farm in Gujarat

Veer Energy and Infrastructure has plans to set up wind turbine generator farms with 200 MW capacity in Gujarat which would cost INR 1,000 crore to INR 1,200 crore. Mr Ritesh Choksi Joint MD of Veer Energy said that it is confident that looking at the current energy scenario in India, the requirement for renewable energy is going to go up. Further he added that “We are also looking at exploring new places and new projects in Tamil Nadu where wind conditions are good.” (Sourced from www.steelguru.c...

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Captain Mohan to lead panel for ship mishaps at the sea

The Shipping Ministry has set up a committee under the National Shipping Board chairman Captain PVK Mohan to suggest measures to avert mishaps at sea. The panel has to submit its report in two months. The panel will include the Visakhapatnam Port Trust chairman, Mr Ajeya Kallam chairman of New Mangalore Port Trust, Mr P Tamilvanan deputy chairman of Paradip Port, Mr Biplav Kumar, Mr Srinivasa Naik, Director, Port Operations, Ministry of Shipping and a senior official of MMD. Earlier there were three accidents involving iron ore laden ships. The...

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Punj Lloyd bags INR 257.79 crores order from Indian Oil Petronas

Punj Lloyd Ltd has announced that the Company has secured an order for a value of INR 275.79 crore from Indian Oil Petronas Pvt Ltd for design, detailed engineering, supply, construction / installation, testing and commissioning of Propane / Butane / LPG Import Terminal at Ennore, Tamil Nadu on EPCC basis. (Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTUw/Punj_Lloyd_bags_INR_257.79_crores_order_from_Indian_Oil_Petronas.ht...

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Performance of railway production units in 5 months

It is reported that Chitranjan Locomotive Works has produced 64 electric locomotives against the target of 69 electronic locomotives and Diesel Locomotive Works produced 113 diesel locomotives against the target of 105 diesel locomotives during April to August 2009. Rail Coach Factory produced 640 coaches against the target of 640 coaches where as Integral Coach Factory produced 515 coaches against the targets of 511 coaches during the same period. Rail Wheel Factory produced 80550 wheels and 32347 axles during the same period against the target...

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Indian melting scrap prices movement on Sep 29

Melting scrap 80:20 HMS Location Change Mumbai 300 Chennai 0 Kolkata 0 Mandi 554 Kandla 0 Kanpur 0 Rudrapur 0 Hyderabad 0 Change is on September 29th as compared to September 25th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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Know domestic steel prices in India on daily basis

A steel producer, user or trader, however big or small, is always concerned about steel prices as steel is normally a big ticket item, but there is no bench mark available to steel buyers to compare their transaction prices. Steel has been very volatile in last 11 months and has effected many users in a very severe way making it all the more important to track the prices and trends. www.steelprices-india.com is a new portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a...

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Bihar Tubes commissions first phase of Hosur project

Bihar Tubes Limited, believing in its numerous strategic strengths and ability to lead industry matrix, successfully commissioned first phase of its state of art manufacturing facilities at Hosur in Tamil Nadu. This Greenfield project spread across 24 acres has the ability to produce 200,000 MT ERW Black Pipe, Galvanized Pipes, Hollow Sections, and Structural Tubes per annum of 1/2" to 12" as outer diameter and up to 10 mm wall thickness. Mr Sanjay Gupta MD of Bihar Tubes said that "I along with my colleagues take pride at this inaugural moment...

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Pencil ingot prices scenario in major places on Sep 29

Pencil ingot Location Change Mumbai 300 Kolkata 0 Mandi 277 Raipur 370 Kanpur 0 Rudrapur 0 Ahmedabad -200 Ghaziabad 300 Muzzafarnagar 267 Hyderabad 0 Raigarh 462 Durgapur 92 Nagpur 0 Jamshedpur 0 Jaipur 200 Rourkela 185 Bhiwari 700 Change is on September 29th as compared to September 25th 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid...

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Monday Market Monitor - India (WEEK 39) - Haunted by dragon flu

With weak demand, coupled with falling international steel price levels on Chinese aggression, Indian steel mills will have to exercise great caution in deciding their pricing policies for the month of October. Indian steel giant Steel Authority of India Limited has already thrown a word of caution on the weekend but others like TATA Steel and JSW have brushed aside the Chinese threat. Dr JJ Irani director of TATA Sons and Mr Sheshagiri Rao joint MD and Group CFO of JSW Steel in recent interviews with CNBC TV18 have opined these sentiments. But...

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Indian cement production in August up by 18pct

Getting back its momentum, India's cement production rose by 17.6% in August over the same month last year due to robust demand from the construction sector. The output increased to 16.06 million tonnes in August from 13.66 million tonnes in the year ago period. Mr HM Bangur president of Cement Manufacturers Association said that "This is really good to see that the Indian construction industry has got back its momentum and is witnessing robust growth. Despite the downturn, which started last year, the industry has created sufficient capacity...

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SEZ to enjoy tax benefits even after 2011

It is reported that Indian finance ministry will shortly issue a notification, clarifying that SEZ units and their developers would continue to enjoy tax incentives including income tax benefits as guaranteed under SEZ Act of 2005 even after 2011 when the government adopts its new Direct Tax Code. Dr LB Singhal director general of export promotion council for EOUs and SEZs while inaugurating ASOCHAM organized International Convention on SEZs said that ministry of commerce has been pursuing this issue with the Finance Ministry as its Direct Tax...

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Union demands removal of PPT chief Mr Raghuramaiah on MV Black Rose

BS reported that the Paradeep Port Workers Union has sought the removal of Mr K Raghuramaiah chairman of the Paradeep Port Trust. The union held the PPT chairman responsible for sinking of MV Black Rose, an iron ore carrying vessel which capsized in the sea near the port about two weeks back, stating he was continuously allowing old vessels to enter the port for export and import of cargo. The port workers' union has submitted a memorandum to the Prime Minister, Union minister for shipping and the Orissa chief minister, demanding removal of Mr...

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Update on BALCO accident

Chinese workers are reported to have fled fearing attacks by locals after a under construction chimney at the plant collapsed on Wednesday, trapping many workers. So far, 40 mutilated bodies have been recovered. The Chinese were employed in Korba by Shandong Electric Power Construction Corporation that had bagged the contract by aluminium major Balco to construct two power plants of 600 MW each. Later, SEPCO assigned to Gannon Dunkerley and Company Ltd the task of constructing a 275 meter high chimney for the power plant. A top sources in the...

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RINL union mourns over former CMD Mr Panda death

It is reported that Visakha Steel Employees Union mourned the death of former chairman cum Managing Director of Visakhapatnam Steel Plant Mr BK Panda at Tirupati on Friday night. Mr Panda died due to a heart attack while visiting Tirumala to witness Brahmostavams. The last rites would be held in Bhubaneswar on September 28. He joined VSP as superintendent power in 1985 and became ED works in 1997 and became director operations in 2000 and played a key role in planning and development of the steel plant. Mr Padi Trinadha Rao honorary president...

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RINL IT department gets CMMI L 3 Certification

It is reported that Information Technology department of Visakhapatnam steel Plant was awarded Capability Maturity Model integrated level 3 certificate by Software Engineering Institute of Carnegie Mellon University of USA. It is a prestigious certificate given to IT companies and departments following the ‘defined processes’ specified in the model. The CMMI model is to ensure structured methodology in software development processes aimed at delivering integrated and quality products to the best satisfaction of the customers and users. The unique...

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TATA Power plans to commission Mundra units by 2012

The Hindu reported that TATA Power an India based private power producer would commission first two units of 800 MW each of the Mundra Ultra Mega Power Project at Gujarat in India by 2012. According to the company, it would not go for new ultra mega power projects at this point of time and would bid for new UMPPs when the market conditions revive. TATA Power said around 30% of the work at the Mundra UMPP has already been completed. It is in possession of land and has started work on putting up the main plant equipment. Mr S Ramakrishnan ED of...

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Steel to hold current price levels - JSW MD

According to Mr Sheshagiri Rao joint MD and Group CFO of JSW Steel, the steel industry which had taken a big knock during the financial crisis is on the track of recovery. Mr Rao said that while China has become a net exporter of steel, which may start bring down prices things were looking good on the domestic front. He said that “In India, we are seeing almost close to 6% growth in consumption of steel and at the same time we are also seeing revival in the developed economies too. So I am not very sure about the price increases whether it will...

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Indian steel makers lucrative targets for global players

News Tuesday, 29 Sep 2009 Pdf_buttonEmailButton Indian steel makers lucrative targets for global players Tuesday, 29 Sep 2009 A persistent demand slump that has seen steelmaking capacity idled worldwide for nearly a year is pushing top global producers to expand their footprint in India, which along with China is a rare bastion of growth. Strong local demand driven by infrastructure building and rebounding car sales has led big foreign steelmakers to seek out investments among a fragmented local industry after efforts to develop standalone projects...

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Andrew Yule to modernize 2 plants

According to Mr Kallol Datta CMD of Andrew Yule, Andrew Yule & Company Ltd plans to invest INR 15 crore to modernize its electrical equipment factories at Kolkata and Chennai. Mr Datta said that Andrew Yule was also looking at producing new range of equipment at these two factories brought under a new subsidiary company Yule Electrical Ltd. He said that “We will soon produce a high range of equipment such as transformers, capacitors switch and auto recloser in these two factories adding that Andrew Yule was reviving an earlier tie up with...

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Government considering 15pct sale in Engineers India

Reuters reported that India is considering selling up to 15% of state run Engineers India Ltd. The report quoted Mr Mukesh Rohatgi chairman of Engineers India as saying that a deal worth over USD 190 million at current market prices. Mr Rohatgi said the government was considering the sale, but could not say when the actual process would happen. He said that "There has been some talk on it, that the government has some plans.” He added that "10% to 15% percent is what everybody is talking about." (Sourced http://www.steelguru.com/news/inde...

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BHEL hopes to get orders worth INR 55,000 crore this fiscal

Bharat Heavy Electricals Ltd is hopeful of getting orders worth INR 55,000 crore within the financial year ending March 2010. Mr K Ravi Kumar CMD of BHEL said that “Out of this INR 55,000 crore, we have booked orders worth INR 19,000 crore in the two quarters of this financial year. Our outstanding order book is at over INR 130,000 crore.” He also added that the company expects another INR 10,000 crore worth of orders by next month. Mr Ravi Kumar said that “We have finalized the prices for further orders worth INR 10,000 crore. We are expecting...

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UGSL mulls INR 500 crore CAPEX over two years in power sector

Mumbai based Uttam Galva Steel plans a CAPEX of INR 300 crore to INR 500 crore over the next 2 years. Mr Ankit Miglani director of Uttam Galva Steels on the sidelines of the company's annual general meeting told reporters that "We expect to spend INR 300 crore to INR 500 crore including for setting up a 60 MW power plant.” He said that "All our investment will go into down stream activities and for cost-reduction mechanism and the money will be raised through internal accruals and debt.” He added that the power plant will help reduce its production...

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Welspun Gujarat Stahl to raise USD 150 million through FCCB

Metal pipe manufacturer Welspun Gujarat Stahl Rohren said that it will raise USD 150 million (INR 720.2 crore) by a foreign currency convertible bond issue. Welspun Gujarat Stahl Rohren in a filing to the Bombay Stock Exchange said that the company has priced FCCBs at USD 130 million with an option to raise an additional amount of USD 20 million if the issue is fully subscribed. Mr BK Goenka CMD of Welspun-Gujarat Stahl Rohren said that “This new FCCB issuance, one of the first issuance in the Indian market after almost 18 months, depicts the...

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Indian scrap importers duped by Dubai based seller - Report

ET reported that scrap importers were in for a shock when as many as 600 heavy metal scrap containers were found empty at Indian ports Jawaharlal Nehru Port Trust and Chennai. The containers were received from a Dubai based suppliers and were shipped to India between last week of August and first fortnight of September this year. Speaking to ET a senior officer at Mumbai Customs said that “While conducting a scan of the consignment on September 8, we found many of them lighter in weight compared to the other consignments carrying HMS. We have...

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Optimize your steel procurement to make big savings

A steel producer, user or trader, however big or small, is always concerned about steel prices as steel is normally a big ticket item, but there is no bench mark available to steel buyers to compare their transaction prices. Steel has been very volatile in last 11 months and has effected many users in a very severe way making it all the more important to track the prices and trends. www.steelprices-india.com is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in...

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Attract more visitors to your company web site

With the ever increasing use of internet for dissemination of information, every company’s website is becoming one of most important medium, with almost zero cost, to make announcements, solicit new clients and promote products. Company websites, which are virtual show cases, are generally designed with great zeal and efforts but do not serve the full purpose as they lack viewers. In fact they are visited mostly by only those who are specifically referred thus limiting the reach severely. We would like to inform you of a unique opportunity to...

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Storm in UK over bonuses for TATA Steel staff in India

The Star reported that steel union Community in UK has branded bosses of UK steel giant Corus's Indian parent company TATA Steel hypocrites after learning steelworkers in India would be receiving bonuses denied to their British counterparts. Corus has already been accused of abandoning South Yorkshire after announcing cuts of more than 1,530 jobs at its plants in Rotherham and Stocksbridge this year. The attack comes after representatives of three main steel unions Community, Unite and the GMB voted to ballot for industrial action over Corus's...

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No threat to Indian steel industry from China - Dr Irani Director TATA Sons

Dr JJ Irani Director of TATA Sons during an interview with CNBC TV 18 last week said that there is a need to decouple India from the global steel industry and that there is no threat to the Indian steel industry from China. To read the full interview, please visit www.steelguru....

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Sharjah based Onyx Heavy Industries buys CHICO from Doosan

LBO reported that Sri Lanka's biggest rebar maker Ceylon Heavy Industries and Construction Co has been taken over from South Korea's Doosan group by an overseas based Sri Lankan firm. A government statement said that Onyx Heavy Industries Company, a Sri Lankan owned company in Sharjah, has taken over 93.75% shares of the steel manufacturer. It quoted chairman of Onyx Heavy Industries and its current proprietor, Mr Nandana Jayadeva Lokuwithana, as saying they will invest USD 65 million in the steel plant. Mr Lokuwithana was also quoted as saying...

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Update on Indian narrow HR steel plate prices

PLTS GR A 8x1250 Location Change Mumbai -693 Chennai 0 Kanpur 0 Rudrapur -267 Change is on September 24th as compared to September 23rd 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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Gujarat NRE to raise USD 60 million

Gujarat NRE Coke said that it will raise USD 60 million by way of bonds and will issue 2.50 crore warrants to promoters. Gujarat NRE in a filing to the Bombay Stock Exchange said that the board has approved to raise USD 60 million by issue of foreign currency convertible bonds. The filing further added that the board has also approved to issue 2.50 crore convertible warrants to promoters. The proposal is subject to shareholders approval. (Sourced from www.steelguru.c...

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Wide plate price improves only at Raipur

PLTS GR B 12-20x2.5 Location Change Mumbai -277 Chennai 0 Kolkata 0 Delhi 0 Raipur 444 Kanpur -178 Rudrapur -355 Ahmedabad 0 Indore -444 Bangalore 0 Change is on September 24th as compared to September 23rd 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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Titagarh Wagons appoints Mr Chowdhary as new CEO

Titagarh Wagons Ltd supplier of wagons and freight cars said Mr J P Chowdhary has been appointed as its MD and Chief Executive Office with effect from September 24th 2009. Mr Chowdhary would also be the Chairman of the company. Titagarh Wagons in a filing to the Bombay Stock Exchange said that Mr Umesh Chowdhary vice chairman & MD of the company has stepped down from the position under the restructuring cum reorganization of the company's management structure. However, Mr Umesh Chowdhary shall continue to be a director of the company and...

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India to get Renault car made by Nissan

French car maker Renault SA, which posted a USD 3.8 billion loss in the first half of this year, has decided to use the compact car platform of its partner Nissan to launch its compact car in India. The move will help the beleaguered company sell compact cars in India without incurring huge product development expenditures. Instead, both cars will be manufactured at the Chennai plant that is under construction and will have common production lines and component sourcing facilities. Renault and Nissan's decision to launch their own compact cars...

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Ship breaking steel plate cuttings price dips at Alang

Product Grade Size Change Ship Scrap Melting Mixed -100 Plate cuttings Rolling 1" -400 Change is on September 24th as compared to September 23rd 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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GM in pact with Reva for producing electric vehicles

US based car maker General Motors joined hands with Reva Electric Car Company to develop and produce electric vehicles in the Indian market as part of its plan to make the country a global hub for environment friendly vehicles. Mr Karl Slym president & MD of General Motors India the Indian subsidiary of GM told reporters that “We are pleased to join hands with Reva to bring affordable small car platform based electric vehicles to the market in line with government objectives to reduce fossil fuel dependence.” He added that GM's ability to...

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Ennore Coke chalks out INR 700 crore expansion

Ennore Coke Ltd is looking for a private equity fund to support its investment plan of around INR 700 crore over the next three years. The plan includes acquisition of coal mines overseas and sick units in India besides enhancing the production capacity. Mr Ganesh Natarajan president & CEO of Ennore Coke said that “We are looking at investing around INR 700 crore over the next three years in expansion and acquisitions. This would help the company reach its target of around INR 2,000 crore turnover by 2011-12.” The company would increase the...

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Indian steel melting scrap price scenario on Sep 24

Melting scrap 80:20 HMS Location Change Mumbai -300 Chennai 0 Kolkata 0 Mandi 739 Kandla 0 Kanpur 89 Rudrapur -89 Hyderabad 185 Change is on September 24th as compared to September 23rd 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india.c...

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Larsen and Toubro wins INR 2,000 crore order from GMR

Larsen & Toubro has received an order valued over INR 2000 crore from GMR Energy Limited, a GMR Group company, for setting up a 2 x 384 MW gas based power plant at Vemagiri near Rajamundry in Andhra Pradesh on a lumpsum turnkey basis. L&T’s scope includes design, detailed engineering, supply, installation and commissioning of the plant on a turnkey basis. L&T-Sargent and Lundy, a subsidiary of L&T will carry out the plant integration and detailed engineering, using propriety technology of Sargent & Lundy LLC, USA. L&T...

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Steel rebar (TMT) price movement in India on Sep 24

TMT Fe 415 12mm Location Change Mumbai -225 Chennai 0 Kolkata 0 Delhi -540 Mandi 0 Kanpur -200 Rudrapur -300 Ahmedabad 0 Hyderabad 300 Indore -200 Bangalore 0 Change is on September 24th as compared to September 23rd 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service. (Sourced from www.steelprices-india....

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IIL to spend INR 2,600 crore on expansion - Report

BL reported that Ispat Industries Ltd proposes to spend INR 2,600 crore in the next two years on various projects. These include a 1 million tonne coke oven plant in a joint venture, a 2 million tonne iron ore pellet project, 110 MW captive power plants, all at the Dolvi steel complex, and an iron ore mining project at Damkodwadi in Maharashtra. Giving this information to newspersons after the company’s annual general meeting Mr Pramod Mittal chairman said that an estimated INR 480 crore would be spent on the captive power units, another INR...

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Indian government considering SAIL FPO - Report

Reuters reported that Indian government is considering a follow on public offer for shares of state run Steel Authority of India Ltd. The repot cited a senior official as saying that “It is going on, under consideration of the government.” He declined to provide any other details (Sourced from www.steelguru.c...

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Pencil ingot price movement in major places on Sep 24

Pencil ingot Location Change Mumbai -350 Kolkata -277 Mandi -370 Raipur -185 Kanpur 267 Rudrapur -178 Ahmedabad -200 Ghaziabad -100 Muzzafarnagar -533 Hyderabad 0 Raigarh -185 Durgapur -231 Nagpur 0 Jamshedpur -277 Jaipur -450 Rourkela 0 Bhiwari -300 Change is on September 24th as compared to September 23rd 2009 Change is in INR per tonne To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com...

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RINL inaugurated continuous casting machine

BL reported that Mr AP Choudhary director projects of Rashtriya Ispat Nigam Limited inaugurated the bloom continuous casting machine 2 in Steel Melt Shop I of Visakhapatnam Steel Plant. Mr TP Rao ED works of RINL, Mr SK Paulose ED projects of RINL and Mr Bob Freely of Corus and other senior officials of VSP and consortium were present. It is designed, supplied and executed by a consortium of Corus Processing engineering of UK and TATA Projects Ltd. The machine is made with state-of-the-art technology to meet the customers’ quality requirements....

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Indian steel price index slides down by 15 points on Sept 24

The Indian Long Product Price Index ILPPI dropped by 15 points on September 24th 2009 whereas Indian Flat Product Price Index IFPPI went down by 14 points. The overall Indian Steel Price Index INDSPI decreased by 15 points Class 23-Sep 24-Sep Change % ILPPI 6333 6318 -15 -0.2% IFPPI 7573 7559 -14 -0.2% INDSPI 6924 6909 -15 -0.2% IPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 23-Sep 24-Sep Change % PI - TMT 6047 6025 -22 -0.4% PI - WRC 6850 6839 -11 -0.2% ...

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Indian steel price index reflects down trend for longs

The Indian Long Product Price Index ILPPI went down by 20 points on September 23rd 2009 whereas Indian Flat Product Price Index IFPPI remains flat. The overall Indian Steel Price Index INDSPI decreases by 10 points. Class 22-Sep 23-Sep Change % ILPPI 6353 6333 -20 -0.3% IFPPI 7573 7573 0 0.0% INDSPI 6934 6924 -10 -0.2% IPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 22-Sep 23-Sep Change % PI - TMT 6042 6047 6 0.1% PI - WRC 6902 6850 -53 -0.8% PI - Angle...

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Attract more visitors to your company web site

With the ever increasing use of internet for dissemination of information, every company’s website is becoming one of most important medium, with almost zero cost, to make announcements, solicit new clients and promote products. Company websites, which are virtual show cases, are generally designed with great zeal and efforts but do not serve the full purpose as they lack viewers. In fact they are visited mostly by only those who are specifically referred thus limiting the reach severely. We would like to inform you of a unique opportunity to...

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