The project earmarked to modernise, rehabilitate and expand the railway line from Sofia to Vidin has to be finalised by the end of 2012, according to Sofia Echo referring to Bulgaria's Transport Minister, Petar Mutafchiev. more...
Sunday, June 28, 2009
Ukrzaliznytsia extends railway container transportations
According to RZD-Partner, a new container route "Nika" starts to work in Ukraine. This train delivers products of ferroalloy plant of Ukraine to ports of Odessa and Ilichevsk. more...
Wednesday, June 24, 2009
India plans to add over 14,000 MW capacities in FY 2010
Reuters cited Mr HS Brahma power secretary as saying that India expects to add more than 14,000 MW of capacity by the end of March 2010.
Mr Brahma said "We need to do tremendous (work) to achieve the planned target. In 100 days, we have a plan to add 5,600 MW by August. We have to do more
Mr Brahma said "We need to do tremendous (work) to achieve the planned target. In 100 days, we have a plan to add 5,600 MW by August. We have to do more
Budget update - Infrastructure sector
According to Mr Amitabh Das Mundhra director of Simplex Infrastructures Limited, “Union Budget is a fiscal policy document. Within its ambit, we should expect that enough resources will be allocated to infrastructure because of competing demand in high deficit environment. We hope that
Rays of recovery - India attracts USD 2.34 billion FDI in April
The Financial Express reported that India attracted USD 2.34 billion of foreign investments in April, a rise of 19.3% over the previous month, signaling confidence in the country's economy by foreign investors amid the global financial crisis.
However, as compared to April 2008, foreign
However, as compared to April 2008, foreign
PGCIL to raise INR 3,000 crore through FPO
PTI reported that power transmission company Power Grid Corporation is planning to raise INR 3,000 crore by the end of this fiscal or early next year through a Follow on Public Offer.
Mr SK Chaturvedi CMD of Power Grid Corporation said “We will try to come up with the FPO and we hope
Mr SK Chaturvedi CMD of Power Grid Corporation said “We will try to come up with the FPO and we hope
Get SMS alert for Indian steel price indices
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert
In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com decided to work on both long products and flat products for respective
In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com decided to work on both long products and flat products for respective
KEC International bags three orders
Project today reported that RPG Group’s KEC Internationalhas secured three orders worth a total INR 110 crore, one in Peru and the remaining two in Chhattisgarh.
The company has won a tower supply order from Peru worth INR 33 crore.
In Chhattisgarh, KEC has bagged two transmission
The company has won a tower supply order from Peru worth INR 33 crore.
In Chhattisgarh, KEC has bagged two transmission
Karnataka government seeks iron ore mining lease for VISL
Mr BS Yeddyurappa CM of Karnataka has appealed to the union ministry of Mines to immediately allot a mining lease to Visvesvaraya Iron and Steel Limited in Sandur, Bellary, by invoking a provision under section 59 (2) of the Central Mining and Minerals Act.
In the letter addressed to Mr BK
In the letter addressed to Mr BK
Karnataka government seeks iron ore mining lease for VISL
Mr BS Yeddyurappa CM of Karnataka has appealed to the union ministry of Mines to immediately allot a mining lease to Visvesvaraya Iron and Steel Limited in Sandur, Bellary, by invoking a provision under section 59 (2) of the Central Mining and Minerals Act.
In the letter addressed to Mr BK
In the letter addressed to Mr BK
Chhattisgarh villagers protest sponge iron pollution
IANS reported that nearly 250 villagers staged a protest on last Thursday against industrial pollution from sponge iron units that they claimed was causing skin cancer and other serious diseases among the people, especially children.
Holding placards, the villagers raised slogans against
Holding placards, the villagers raised slogans against
RINL becomes preferred suitor for NINL
TOI reported that the SAIL move to acquire the Neelachal Ispat Nigam Limited continuing to hang fire, the Rashtriya Ispat Nigam Limited has set its eyes firmly on the profit making Jajpur based PSU.
Sources said that the union steel ministry, as part of the new UPA government's agenda for
Sources said that the union steel ministry, as part of the new UPA government's agenda for
Hoskote and Vasco iron ore track doubling approved
Live Mint reported that the Indian Railways plans to spend some INR 2,000 crore to double the railway track between Hoskote in Karnataka and Vasco in Goa. The report cited a railway official as saying that the Planning Commission cleared the project 10 days ago.
The official said the
The official said the
Indian Railway to withdraw 10% rebate on container freight
Live Mint reported that the cost of moving cargo in steel containers by rail within the country will rise following the railway ministry’s decision to withdraw a 10% rebate on domestic movement of containers in the weight category of at least 20 tonne. Executives from companies that
8 strand billet caster commissioned at JSW Vijayanagar
JSW Steel Ltd located in Toranagallu in the state of Karnataka in India has commissioned the first eight-strand billet caster on the Indian subcontinent together with SMS Concast.
The billet caster delivered by SMS Concast is part of JSW's expansion program "Cheetah" which will bring the
The billet caster delivered by SMS Concast is part of JSW's expansion program "Cheetah" which will bring the
Indian long product prices continue declining on June 23
The domestic Indian Steel prices dived further on June 23rd 2009. The Indian Long Product Price Index ILPPI dropped by 8 points, whereas Indian Flat Product Price Index IFPPI remained unchanged. The overall Indian Steel Price Index INDSPI down by 4 points.
Indian HR prices on high tide
Indian flat product market is on traction with an unbroken run of buoyancy for the 10th consecutive week. The fundamentals underlying this sparkling performance have been within rather than without. The peculiarity of price increase is magnified by the record breaking downslide in long product
Monday, June 22, 2009
Renault to start construction of a new auto plant at the Tangiers-Med complex
According to Mr Carlos Ghosn chief of Renault, Renault will begin construction in September 2009 on a new manufacturing plant at the Tangiers-Med port complex.
Mr Ghosn after meeting with King Mohamed VI in Rabat said that the plant will eventually manufacture 400,000 vehicles, including
Mr Ghosn after meeting with King Mohamed VI in Rabat said that the plant will eventually manufacture 400,000 vehicles, including
Must for steel market players in Middle East Asia
www.steelprices-middleeast.com is a new portal that provides domestic pricing information for benchmark steel products in each category at select location in Middle East on a regular basis 5 days a week.
In addition, FOB levels for commonly exported steel products from major exporting
In addition, FOB levels for commonly exported steel products from major exporting
Drydocks installs Grounding Avoidance System on BP Shipping
Drydocks World Dubai has installed a trial version of a Grounding Avoidance System on the 46,803 tonne oil tanker British Tenacity for BP Shipping.
As per report personnel from Drydocks World Dubai worked for 12 days to modify British Tenacity’s bow and fabricate the structures
As per report personnel from Drydocks World Dubai worked for 12 days to modify British Tenacity’s bow and fabricate the structures
Airport contracts at Muscat, Salalah and Ras al-Hadd extended
MEED reported that Oman's Transport & Communications Ministry has extended the tender closing date for 3 airport construction contracts at Muscat, Salalah and Ras al-Hadd.
The new closing date for the contract to build the new passenger terminal at Muscat International Airport is August
The new closing date for the contract to build the new passenger terminal at Muscat International Airport is August
Kuwait invites contractors for construction work at Bubiyan Island
MEED reported that Kuwait's Public Works Ministry has invited pre qualified contractors to bid by July 28th for the marine works contract on its port project at Bubiyan Island.
The design and build contract covers the construction of a container terminal, 4 berths and a 1,300 meter long
The design and build contract covers the construction of a container terminal, 4 berths and a 1,300 meter long
2 contracting groups short listed for monorail contract in Saudi
MEED reported that 2 contracting groups have been short listed for the SAR 3.75 Finance Ministry contract to build a monorail at Princess Noura bint Abdulrahman University for Women in Riyadh.
The 2 groups are Saudi Binladin Group with Japan's Mitsubishi Corporation and the local Al-Arrab
The 2 groups are Saudi Binladin Group with Japan's Mitsubishi Corporation and the local Al-Arrab
DUBAL and DP World sign 4 year contract
DUBAL Dubai Aluminium Company Limited and DP World, UAE region have extended their strategic partnership signing a new 4 year contract to handle DUBAL’s inbound and outbound cargo management services. The contract entails DP World handling more than 14.5 million tonnes of imported raw
Jiangsu Rongsheng Heavy shipbuilder bags Oman deal
Reuters reported that Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Company which is aiming to sell shares to the public in 2009 won a USD 484 million deal to build four ships for Oman Shipping Company.
The vessels would carry exports from an iron ore pellet plant in northern Oman
The vessels would carry exports from an iron ore pellet plant in northern Oman
Directory of Overseas Scrap Suppliers to India
India is large market for import of steel scrap and this is the directory which is going to help many interested group to know this industry.
Published in September 2008, 'Directory of Scrap Suppliers to India' has been comprehensively researched and prepared, to bring you a fully up to
Published in September 2008, 'Directory of Scrap Suppliers to India' has been comprehensively researched and prepared, to bring you a fully up to
Iran to become self sufficient in steel production by the end of summer
According to Mohammad Saminejad deputy minister of industries and mines, Iran will become self-sufficient in steel production by the end of summer.
Mr Saminejad told IRNA that the country's annual steel production capacity stands at USD 17 million tonnes adding that by the end of the year
Mr Saminejad told IRNA that the country's annual steel production capacity stands at USD 17 million tonnes adding that by the end of the year
Saudi Steel Pipes to raise SAR 400 million in IPO
Arabianbusiness.com reported that Saudi Steel Pipes Co will seek to raise SAR 400 million (USD 106.7 million) from the sale of a 31.4% stake in an IPO which starts on Saturday.
Saudi Steel Pipes Co said that it will sell 16 million new shares to local investors at SAR 25 riyals each. The
Saudi Steel Pipes Co said that it will sell 16 million new shares to local investors at SAR 25 riyals each. The
Sarda Energy Board to consider Dividend for 2008-09
Sarda Energy & Minerals Limited has announced that a meeting of the Board of Directors of the company will be held on June 30th 2009, inter alias, to consider and approve the Audited Annual Accounts for the year ended March 31st 2009.
(Sourced from Equity
(Sourced from Equity
Directory of Induction Furnace Based Steel Makers in India
In India the using of Mains Frequency Induction Furnaces started from mid sixties and medium frequency imported induction furnaces from mid-seventies but a sudden growth took place from early eighties up to mid nineties when indigenous manufacture of Induction Furnaces commenced.
During
During
Visa Power seeks coal linkage for Brahmanbasta power project
Projects Today reported that Visa Power has requested the ministry of coal to allocate coal linkage, to meet the envisaged coal requirement of 6.2 million tonne per annum for the company's 4x250 MW independent power plant located at Brahmanbasta, in the Cuttak district of Orissa.
According
According
Government plans to raise APM gas price by 17%
Zee News reported that the government may hike the price of natural gas produced by ONGC and Oil India Ltd by over 17% and index it to inflation rate to help the 2 firms cut losses on selling fuel below cost.
The Petroleum ministry has prepared a draft cabinet note for raising prices of
The Petroleum ministry has prepared a draft cabinet note for raising prices of
Government plans to raise APM gas price by 17%
Zee News reported that the government may hike the price of natural gas produced by ONGC and Oil India Ltd by over 17% and index it to inflation rate to help the 2 firms cut losses on selling fuel below cost.
The Petroleum ministry has prepared a draft cabinet note for raising prices of
The Petroleum ministry has prepared a draft cabinet note for raising prices of
Macroeconomic indicators - Indian GDP to average 7.2% over next 5 years
The Financial Express reported that India's real GDP growth will average at 7.2% over the next 5 years even as risks to the global economy continue to remain high.
The research arm of London based Economist said the world's second fastest growing economy may also see negative inflation
The research arm of London based Economist said the world's second fastest growing economy may also see negative inflation
AP government reports 31% shortfall in power target
BL reported that the Andhra Pradesh Government has admitted that the state could achieve a capacity addition of only 2,940 MW against the programmed capacity addition of 4, 257 MW during the 10 Plan periods.
Dr YS Rajasekhara Reddy CM of AP said the low realization of capacity addition was
Dr YS Rajasekhara Reddy CM of AP said the low realization of capacity addition was
TN seeks higher share from NLC JV project
BL reported that the Tamil Nadu Government has demanded that it be given a higher share of the generation of the upcoming NLC Tamil Nadu Power Limited. It is a JV of Tamil Nadu Industrial Development Corporation, part of the Government of Tamil Nadu and the government of India owned power
TELK JV to begin operations from June 23 2009
BL reported that the State public sector undertaking Transformers and Electricals Kerala Ltd will become a 50:50 JV company with NTPC from June 23rd 2009. The new board and MD would also assume charge on the same day.
Backed by an all time high operational profit of INR 36.14 crore for
Backed by an all time high operational profit of INR 36.14 crore for
Directory of Galvanizers in India
Published in November 2008, ''Directory of Galvanizers in India ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian ferroalloys industry.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This
Titagarh Wagons plans to buy Cimmco Birla
BS reported that Titagarh Wagons Limited's plan to buy stake in the sick wagon unit of the SK Birla Group, Cimmco Birla will materialize in a couple of months. Titagarh Wagons Limited along with the SK Birla Group will have to repay the INR 500 crore debt on Cimmco Birla's books.
Mr JP
Mr JP
NTPC Talcher unit shutdown triggers power shortage
BS reported that 2 major units of the Talcher Thermal Power Station owned by the National Thermal Power Corporation were shut down due to technical snags, pushing the state towards a major power shortage.
The operations of one of these 2 units of TTPS have been restored by the officials of
The operations of one of these 2 units of TTPS have been restored by the officials of
JSPL ED Mr Jha presents paper at steel conference in Busan
SNS reported that Mr Rajesh Jha executive director of Jindal Steel and Power Limited, Angul has presented the paper titled Innovative path to steel industry at the 4 Asia steel international conferences at Busan in Korea recently.
According to sourced, Mr Jha was the only person from the
According to sourced, Mr Jha was the only person from the
NALCO successfully commissions 9 unit of 120 MW
SNS reported that National Aluminum Company Limited has successfully commissioned its 9 unit of 120 MW capacity of its captive power plant recently. Company sources described it as yet another milestone in implementation of its ambitious INR 4,400 crore second phase expansion program.
With
With
NTPC to provide technical skill to MPPGCL
PTI reported that the National Thermal Power Corporation will be providing technical know how to Madhya Pradesh Power Generating Company Limited to improve the Plant Load Factor in its thermal power stations.
The development assumes significance as Madhya Pradesh was facing severe power
The development assumes significance as Madhya Pradesh was facing severe power
NLC 2008-09 net profit at INR 821 crore
PTI reported that Neyveli Lignite Corporation reported a consolidated net profit of INR 821.09 crore for the year ended March 31st 2009. The total income stood at INR 4,019.89 crore for the year ended March 31st 2009.
NLC for the first time reported its consolidated net profit, hence the
NLC for the first time reported its consolidated net profit, hence the
Siemens to equip high voltage power distribution for Vedanta Aluminium
The Industry Solutions Division of Siemens Ltd India has received an order from Vedanta Aluminium Ltd to supply turnkey high voltage power distribution equipment for an aluminium melting plant at Jharsuguda in Orissa.
The project is part of the second phase of expansion at this facility,
The project is part of the second phase of expansion at this facility,
Stimulus plans - Indian shipping industry seeks special fund
ET reported that with the avenues to secure loans for expansion and modernization plans drying up, the shipping industry has asked the government to set up special fund to help the industry finance such projects.
The domestic shipping industry finds it difficult to raise money from the
The domestic shipping industry finds it difficult to raise money from the
GMR Infra allots preferential shares
BL reported that GMR Infrastructure Ltd, the management committee of the board of directors at its meeting held on June 19th has allotted 1,30,19,108 fully paid up equity shares of INR 2 each to IDFC Infrastructure Fund India Development Fund on preferential basis.
Consequent upon the above
Consequent upon the above
McNally Bharat bags order INR 30 crore from Paradip Port
It is reported that McNally Bharat Engineering Company Limited has secured an order for design, manufacture, supply, installation and commissioning of two 3000 TPH capacity reclaimers from Paradip Port Trust for INR 30.60 crore.
Earlier this month, the company has bagged an order worth INR
Earlier this month, the company has bagged an order worth INR
Nagarjuna Construction secures 4 major orders
Nagarjuna Construction Company announced that it has bagged a clutch of orders totaling INR 3.58 billion out of which the four major orders.
The first order is from the superintending engineer, directorate of public health engineering, Kolkata for lump sum contract for water supply valued
The first order is from the superintending engineer, directorate of public health engineering, Kolkata for lump sum contract for water supply valued
Slowdown signs - SCI shelves plan to buy 4 large crude oil carriers
BL reported that with the global shipping industry facing rough weather, Shipping Corporation of India has shelved its plan to purchase four very large crude carriers worth USD 320 million.
However, the credit crisis and the economic slowdown had forced the company to defer the plan for 6
However, the credit crisis and the economic slowdown had forced the company to defer the plan for 6
BHEL gets order for CPP contract for Barauni Refinery of IOC
Bharat Heavy Electricals Limited has secured another contract from Indian Oil Corporation for setting up a captive power plant at its Barauni Refinery Complex.
Reposing confidence in BHEL's capabilities, IOC has placed an order worth Rs.1,050 Million, for a 20 MW Steam Turbine Generator
Reposing confidence in BHEL's capabilities, IOC has placed an order worth Rs.1,050 Million, for a 20 MW Steam Turbine Generator
ABB receives INR 55 crore order
PTI reported that power and automation group ABB has received an order worth INR 55 crore to provide the electrical infrastructure for modernisation of Kolkata airport.
The company in a statement said ABB would provide complete power supply package for the airport from Italian-Thai
The company in a statement said ABB would provide complete power supply package for the airport from Italian-Thai
Ministry of shipping seeks comments on draft MPRA Act 2009
According to a press release, the committee headed by additional secretary and financial advisor, ministry of Shipping has finalized the draft Major Ports Regulatory Authority Act, 2009.
This Act will be successor to the provisions currently enshrined in the Major Port Trusts Act, 1963 in
This Act will be successor to the provisions currently enshrined in the Major Port Trusts Act, 1963 in
Orissa cuts power supply to industries by 50%
BS reported that the Orissa government has directed the State Load Despatch Centre to effect 50% load restriction on industrial users.
The state energy department has come out with the required notification in this regard which will remain effective for 2 weeks or till the situation
The state energy department has come out with the required notification in this regard which will remain effective for 2 weeks or till the situation
RIL inks KG gas pacts with Essar, Welspun Maxsteel and IIL
BS reported that Reliance Industries Limited has signed gas sale agreements with steel makers including Essar Steel, Welspun Maxsteel erstwhile known as Vikram Ispat and Ispat Industries for supplying 3.75 mmcmd of natural gas from its offshore Krishna Godavari-D6 basin.
As per the Gas
As per the Gas
Mr Arun Yadav assumes charge as minister of State for Heavy Industries and Public Enterprises
According to press release, Mr Arun Yadav has assumed charge as minister of State for Heavy Industries and Public Enterprises. Earlier Mr was minister of State for Youth Affairs and Sports.
He is a young face in the new Council of ministers, belongs to Madhya Pradesh representing Khandwa
He is a young face in the new Council of ministers, belongs to Madhya Pradesh representing Khandwa
Get SMS alert for Indian steel price indices
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert
In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com decided to work on both long products and flat products for respective
In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com decided to work on both long products and flat products for respective
POSCO war zone - Anti POSCO body observes Martyrs day
Statesman News Service reported that despite the conspicuous absence of Mr Prakash Jena a frontline anti POSCO leader at the Martyrs’ Day function held at Patana village to mark the first death anniversary of Mr Dula Mandal, activists of POSCO Pratirodha Sangram Samiti vowed to continue
Jindal SAW Limited bags orders worth over INR 1000 crore
Jindal SAW Limited has announces that the receipt of orders or letter of award aggregating to more than INR 1000 crore for supply of Large Diameter Pipes and Ductile Iron Pipes in domestic and export markets.
While domestic supply orders are from GAIL and, HPCL etc, the export orders are
While domestic supply orders are from GAIL and, HPCL etc, the export orders are
TATA Steel submits bid for Incab
BL reported that the Board for Industrial & Financial Reconstruction is again scheduled to hear the issue of revival of Incab, sick and closed for a long time on July 2nd with TATA Steel as a first time bidder. There are two other bidders as well.
On May 14th, the Delhi HC following an
On May 14th, the Delhi HC following an
Updated In-depth analysis of steel projects in India
India with vast resources of iron ore, abundantly available low cost skilled manpower and the prospects of a strongly growing steel market provided huge opportunities to invest in the steel industry for new capacity. With a strong technical manpower, a history of steel making and a supportive
SAIL to reduce work force despite expansions
HT reported that Steel Authority of India Limited is looking to further rationalise its work force of 120,000 by around 15% or say 20,000. The report said that SAIL plans no retrenchments, though, but will do so by not replacing retiring employees.
As per report, the reduction will be
As per report, the reduction will be
Indian crude steel production in May surges by 9.3% YoY
The Indian crude steel production during May 2009 surged by 9.3% YoY as most of the steel mills continued to produce at full steam, on the back of strong domestic demand.
Indian long product prices continue declining on June 22
The domestic Indian Steel prices dived further on June 22nd 2009. The Indian Long Product Price Index ILPPI dropped by 26 points, whereas Indian Flat Product Price Index IFPPI increased by 21 point. The overall Indian Steel Price Index INDSPI down by 4 points.
Thursday, June 18, 2009
Gazprom may delay Kovykta
The Moscow Times reported that Gazprom indicated on Wednesday that the opening of yet another major gas field Kovykta could be postponed because of depressed global demand.
Mr Alexander Ananenkov Gazprom deputy chief executive said "The global economic crisis has affected the launches of
Sourse: More Info
Mr Alexander Ananenkov Gazprom deputy chief executive said "The global economic crisis has affected the launches of
Sourse: More Info
Ural Steel increases coke output
SteelOrbis reported that Ural Steel, steel producing subsidiary of Russian iron ore and steel producer Metalloinvest Holding has restarted operations at its coke battery No 3 due to the need for additional coke output caused by the increase in demand for pig iron.
Ural Steel’s coke
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Ural Steel’s coke
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Severstal participates in St Petersburg infrastructure projects
SteelOrbis reported that Severstal SMC Kolpino a St. Petersburg region based steel service center subsidiary of Russian steelmaker Severstal has announced that it has started to fill the order for the production of welded sections for the construction of the Western High Speed Diameter highway
Sourse: More Info
Sourse: More Info
Mechel commissions coke batteries No 2 at Moskoks
Mechel announced the restart of a block of coke oven batteries No. 2 at its Moscow Coke and Gas Plant OAO.
Mechel OAO is successfully restoring production volumes at its steel segment subsidiaries’ plants. Thus, the blast furnace #4 at Chelyabinsk Metallurgical Plant OAO was
Sourse: More Info
Mechel OAO is successfully restoring production volumes at its steel segment subsidiaries’ plants. Thus, the blast furnace #4 at Chelyabinsk Metallurgical Plant OAO was
Sourse: More Info
Zhejiang to triple nuclear power installed capacity by 2015
Interfax-China reported that Zhejiang Province in eastern China aims to triple its nuclear power installed capacity to 8,900 megawatts by 2015.
According to the Zhejiang branch of the National Development and Reform Commission, the five reactors of the province's Qinshan Nuclear Power
Sourse: More Info
According to the Zhejiang branch of the National Development and Reform Commission, the five reactors of the province's Qinshan Nuclear Power
Sourse: More Info
Steel futures to face physical delivery in September
It is reported that most derivatives are not actually exercised, but are traded out before their delivery date. However, physical delivery still occurs with some trades.
Steel futures' physical delivery will come in three months. According to Shanghai Futures Exchanges the 15th of every
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Steel futures' physical delivery will come in three months. According to Shanghai Futures Exchanges the 15th of every
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China unwrought manganese exports drop 61% in 5 months
Platts quoted latest statistics published by the General Administration of Customs said China's unwrought manganese exports over January-May fell 60.9%YoY to 37,737 tonnes.
The value of the exports in the five-month period dropped 72.1%YoY to about USD 90.9 million.
China's unwrought
Sourse: More Info
The value of the exports in the five-month period dropped 72.1%YoY to about USD 90.9 million.
China's unwrought
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Benxi Steel becomes largest steel supplier of Beijing Hyundai
It is reported that Benxi Steel has been the largest steel products supplier for Beijing Hyundai Motor Co Ltd.
At present, the mill has eyed its branded-products totally cover the production lines of the auto maker, and realized big batch delivery, implying the mill’s premiere among
Sourse: More Info
At present, the mill has eyed its branded-products totally cover the production lines of the auto maker, and realized big batch delivery, implying the mill’s premiere among
Sourse: More Info
Hubei Province to continue promoting steel industry
It is reported that Hebei government is going to sign and issue the Steel Industrial Restructuring and Revitalization Plan in coming days. This is a significant move made by local government to promote local economic growth.
Steel industry is one of the economical pillars for Hubei
Sourse: More Info
Steel industry is one of the economical pillars for Hubei
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China province wise other steel products output in 5 months of 2009
It is reported that China province wise other steel product output during January to May total 4.2 million tonnes which Jiangsu top the table.
Sourse: More Info
Sourse: More Info
Wuyang Steel obtains steel contract for Xi'an railway project
It is reported that as present, Hebei Steel Group Wuyang Iron and Steel Co Ltd has clinched a steel contract with a Jiangsu based company to provide 7,100 tonnes of construction steel products for the high speed railway station construction at Xi’an city in Sha’anxi
Sourse: More Info
Sourse: More Info
Fitch sees tough times for Russian steel industry
Fitch Ratings expects the Russian steel industry to continue to face challenges for the reminder of 2009, such as soft domestic demand and depressed prices, although their impact will vary across companies.
Fitch noted that “The operating and financial performance of Russian steel
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTM%3D/Fitch_sees_tough_times_for_Russian_steel_industry.html
Fitch noted that “The operating and financial performance of Russian steel
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTM%3D/Fitch_sees_tough_times_for_Russian_steel_industry.html
Chinese spot aluminum prices may fall below USD 1,901
Interfax-China quoted an employee from the Aluminum Corporation of China Co Ltd China's largest alumina and aluminum producer said, reported that Domestic spot aluminum prices are likely to fall below CNY 13,000 per tonne before the end of June due to a market surplus.
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTI%3D/Chinese_spot_aluminum_prices_may_fall_below_USD_1%252C901.html
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTI%3D/Chinese_spot_aluminum_prices_may_fall_below_USD_1%252C901.html
China should speed up out dated capacity elimination - Mr Yizhong
According to Mr Li Yizhong the minister of Ministry of Industry and Information Technology, China should speed up industry mixture adjustment and eliminate pollution emission. The ministry will pay close attention to mechanism on out-dated capacity elimination and raise threshold requirements
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTE%3D/China_should_speed_up_out_dated_capacity_elimination_-_Mr_Yizhong.html
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTE%3D/China_should_speed_up_out_dated_capacity_elimination_-_Mr_Yizhong.html
China province wise steel product output in 5 months of 2009
It is reported that China province wise steel product output during January to May total 254.3 million tonnes which Hebei top the table.
Sourse: More Info
http://www.steelguru.com/news/index/2009/06/18/OTg4NTA%3D/China_province_wise_steel_product_output_in_5_months_of_2009.html
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http://www.steelguru.com/news/index/2009/06/18/OTg4NTA%3D/China_province_wise_steel_product_output_in_5_months_of_2009.html
China Precision Steel holds AGM
China Precision Steel Inc, a niche precision steel processing company principally engaged in producing and selling high precision cold-rolled steel products, announced that it held its 2009 Annual General Meeting of Shareholders at 9:00 AM on June 16th 2009 in Hong Kong. Each of the proposals
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDk%3D/China_Precision_Steel_holds_AGM.html
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDk%3D/China_Precision_Steel_holds_AGM.html
Shenhua denies thermal coal pact with Japanese utilities
According to Mr Huangqing the secretary of the chairman of China's Shenhua Group clarified while being interviewed that no agreement has been made with Japan so far, letting alone the rumored USD 79 per tonne long-term contract price.
Mr Huang said that Shenhua Group will not sell coal to
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDg%3D/Shenhua_denies_thermal_coal_pact_with_Japanese_utilities.html
Mr Huang said that Shenhua Group will not sell coal to
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDg%3D/Shenhua_denies_thermal_coal_pact_with_Japanese_utilities.html
Baosteel sets model for new round of regrouping in China
To guide the merger and restructuring in steel industry and keep in line with government's legislation and policy, the Ministry of Industry and Information Technology hammered out the discipline of merger and restructuring lately, aiming to speed up the merger and restructuring among large
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDc%3D/Baosteel_sets_model_for_new_round_of_regrouping_in_China.html
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDc%3D/Baosteel_sets_model_for_new_round_of_regrouping_in_China.html
China likely to pour another CNY 24 billion on export rebate
China Metallurgical News reported that Chinese Ministry of Finance is likely to pour another CNY 24 billion on export rebate in the coming months of this year 38% of which is to be put into high value added machinery and electronic products.
Mr Yaojian, press spokesman of Ministry of
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDY%3D/China_likely_to_pour_another_CNY_24_billion_on_export_rebate.html
Mr Yaojian, press spokesman of Ministry of
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDY%3D/China_likely_to_pour_another_CNY_24_billion_on_export_rebate.html
Shanxi based Steelmakers ink long term iron ore contracts
Sources from Shanxi Iron & Steel Association and some steelmakers in Shanxi's Jinnan and Lvliang confirmed, several steelmakers in Shanxi have signed 2009 long term iron ore supply contracts with the three ore giants.
Mr Zhu Fengliang secretary general of Shanxi Iron & Steel Association
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDU%3D/Shanxi_based_Steelmakers_ink_long_term_iron_ore_contracts.html
Mr Zhu Fengliang secretary general of Shanxi Iron & Steel Association
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDU%3D/Shanxi_based_Steelmakers_ink_long_term_iron_ore_contracts.html
Ma'anshan Steel plans issuing CNY 4 billion bond
It is reported that Ma'anshan Iron&Steel held its 2008 General Meeting of Shareholders June 16th approving a motion about issuing no more than CNY 4 billion bond in inter bank bond market as a financing instrument for non-financial enterprises.
As per report, the company decided that it
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDQ%3D/Ma%2527anshan_Steel_plans_issuing_CNY_4_billion_bond.html
As per report, the company decided that it
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDQ%3D/Ma%2527anshan_Steel_plans_issuing_CNY_4_billion_bond.html
Yalian Steel secures CAD 27.5 million credit facility
Yalian Steel Corporation announced that it has arranged a CNY 170 million credit facility with the Agricultural Bank of China. The Credit Facility has a three year term and carries an interest rate of 5.4%. Funds drawn down from the Credit Facility will be secured by land use rights and/or
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDM%3D/Yalian_Steel_secures_CAD_27.5_million_credit_facility.html
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http://www.steelguru.com/news/index/2009/06/18/OTg4NDM%3D/Yalian_Steel_secures_CAD_27.5_million_credit_facility.html
Tuesday, June 16, 2009
Shenhua Energy gets approval for stock buyback
Hong Kong Economic Times citing Mr Huang Qing company board secretary as saying that China Shenhua Energy Co. received approval at a shareholder meeting last week to buy back shares.
The Hong Kong-based, Chinese-language newspaper said the company can buy back as much as 10% of its share
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The Hong Kong-based, Chinese-language newspaper said the company can buy back as much as 10% of its share
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Zhonghai Trust to lend to Chongqing Steel
Trading Markets reported that Zhonghai Trust Co Ltd has joined a syndicate to provide a loan for Chongqing Iron & Steel Co Ltd.
The agreement about the syndicated loan was signed in Chongqing City, southwest China on June 12th 2009. Led by Standard Chartered Bank Limited, the consortium is
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The agreement about the syndicated loan was signed in Chongqing City, southwest China on June 12th 2009. Led by Standard Chartered Bank Limited, the consortium is
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Handan Steel wins CNY 700 million steel supply contract
It is reported that Hebei Iron & Steel Group’s Handan Steel has won over CNY 700 million worth steel supply contract from Beijing-Shanghai and Beijing-Shijiazhuang high-speed railway projects.
As per report, Handan Steel signed supply contracts with Beijing-Shanghai railway project in
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As per report, Handan Steel signed supply contracts with Beijing-Shanghai railway project in
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Tiangong 1300 tonnes forging press to come on stream
According to Mr Zhu Xiaokun Chairman of the board of Tiangong International Company Limited lately said in an interview with the media Wenhui News that, the company is introducing the world's most advanced 1300 tonnes fine forging mill and plans to put it into service in no time in response
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Directory of Forging Industry in India
Published in October 2008, 'Directory of Forging Industry in India' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian forging industry.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report
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Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report
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Sinosteel denies bidding for stake in Canadian Denison Mines
It is reported that a high level source with Sinosteel Group denied the rumor to 21 Century Business Herald June 15th that it is planning to bid for Canadian uranium producer Denison Mines Corp's 19.9% interest.
He said "We have noticed some companies in Korea, Japan and Russia have
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He said "We have noticed some companies in Korea, Japan and Russia have
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China province wise crude steel output in 5 months of 2009
It is reported that China province wise crude steel output during January to May total 217.2 million tonnes which Hebei top the table.
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Monday, June 15, 2009
Downsizing deals - US Steel recalls 175 at Ontario for coke oven
Bloomberg reported that US Steel Corp is recalling laid off workers to restart coke production in Ontario and a blast furnace in Illinois.
Mr Rolf Gerstenberger president of the USW chapter representing the Canadian workers said in a telephone interview that about 175 workers were assigned
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Mr Rolf Gerstenberger president of the USW chapter representing the Canadian workers said in a telephone interview that about 175 workers were assigned
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Kazakhstan boosts oil production 3.9% in 5 months
Interfax reported that Kazakhstan increased oil production 3.9% to 25.338 million tonnes in January to May 2009 compared to the same period of 2008.
Gas condensate production however fell by 4.7% to 5.178 million tonnes in the period.
Natural gas production grew 3.8% to 14.627 billion
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Gas condensate production however fell by 4.7% to 5.178 million tonnes in the period.
Natural gas production grew 3.8% to 14.627 billion
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Eni could build gas processing and power plant in Kazakhstan
Interfax citing Mr Nursultan Nazarbayev Kazakh President said Foreign investors intend to implement a number of new major projects in Kazakhstan,.
Mr Nazarbayev said at the 21st Foreign Investors Council that "Agreement was reached with Eni's vice president on building a gas processing
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Mr Nazarbayev said at the 21st Foreign Investors Council that "Agreement was reached with Eni's vice president on building a gas processing
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Ukraine now has 6 times fewer billionaires than in 2008
Interfax reported that only four people who were on the list of Ukraine's richest people managed to get on the 2009 list of billionaires prepared by Ukraine's Korrespondent journal
1. Mr Rinat Akhmetov
2. Mr Ihor Kolomoisky
3. Mr Viktor Pinchuk
4. Mr Henadiy Boholyubov
Mr Akhmetov
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1. Mr Rinat Akhmetov
2. Mr Ihor Kolomoisky
3. Mr Viktor Pinchuk
4. Mr Henadiy Boholyubov
Mr Akhmetov
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LUKOIL to broaden its activity in Kazakhstan
Itar-Tass citing Mr Vagit Alekperov Company President said at the Friday meeting of the Kazakh Presidential Council of Foreign Investors recently that LUKOIL will broaden its activity in Kazakhstan.
Mr Alekperov said “Kazakhstan is a priority and the crisis has enhanced its
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Mr Alekperov said “Kazakhstan is a priority and the crisis has enhanced its
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Slovenia not to sell Petrol Group to Gazprom
The Moscow Times reported that the Slovenian government said it will not sell its stake in Petrol Group to Gazprom after the gas giant's CEO, Mr Alexei Miller said he received a proposal to buy into the fuel retailer.
Mr Matej Lahovnik Slovenian Economic Minister said "The government is
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Mr Matej Lahovnik Slovenian Economic Minister said "The government is
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Russia to raise oil export duty to USD 212.6 per tonne
RIA Novosti citing a senior official of the Finance Ministry said, Russia will increase oil export duty from the current USD 152.8 to USD 212.6 per tonne from July 1st following trends on global oil markets.
Mr Alexander Sakovich deputy head of the ministry's customs department said the
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Mr Alexander Sakovich deputy head of the ministry's customs department said the
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ARMZ gets 17% stake in Canadian Uranium One for Kazakh uranium asset
Interfax reported that Russian uranium holding Atomredmetzoloto will receive about 17% of shares in Canadian Uranium One which has operations in Australia, the US, South Africa and Kazakhstan in exchange for a 50% stake in Kazakhstan's Karatau LLC.
ARMZ will also receive USD 90 million in
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ARMZ will also receive USD 90 million in
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Slowdown signs - Ukrainian vehicles output plunges
According to the Ukravtoprom Association's press service, Ukrainian vehicle manufacturers January through May 2009 produced 30,036 passenger cars, trucks and buses which was almost 6.6 times down YoY.
A total of 28,908 passenger cars, 749 trucks and 379 buses were manufactured over the
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A total of 28,908 passenger cars, 749 trucks and 379 buses were manufactured over the
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MMK coating shop galvanized output crosses 3 million tonnes
SteelOrbis reported that the Russian steel producer Magnitogorsk Iron and Steel Works coating shop has produced three million tonnes of galvanized steel since the commissioning of its first hot dip galvanizing line in July 2002.
MMK’s coating shop includes two HDG lines, supplied by
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MMK’s coating shop includes two HDG lines, supplied by
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Sunday, June 14, 2009
Rays of recovery - China sees growth in cargo throughput
Portworld reported that China's port cargo throughout of domestic and foreign trade both are expected to increase in May, reflecting the positive effects of the country's stimulus package and rising domestic demand for commodities transportation.
The country's Department of Transport
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The country's Department of Transport
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Macroeconomic indicators - Chinese CPI declines in May
It is reported that in May, China’s overall consumer price index slipped by 1.4%YoY declining by 0.3% from the April level. Meanwhile, the core CPI which excludes food and energy prices dropped 1.3%YoY.
China’s producer price index for industrial products in the month of May
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China’s producer price index for industrial products in the month of May
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What led to the continuous decline of PPI in May? - Analysis
People's Daily Online reported that the Producer Price Index was in a rapid growth phase during the same period in 2008 although the negative impact of the international financial crisis on the real economy is still increasing. However, PPI has dropped faster in May 2009 compared with the
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Rays of recovery - China auto sales increase in first five months
Xinhua quoted China Association of Automobile Manufacturers said sales of China's domestically made automobiles topped 4.96 million units in the January to May period up by 14.29% from a year earlier.
The CAAM said both output and sales of domestically made automobiles in May exceeded 1.10
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The CAAM said both output and sales of domestically made automobiles in May exceeded 1.10
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Rays of recovery - China port throughput grows for 3 months
According to the China’s Department of Transport, China's port cargo throughput of domestic and foreign trade both grew in May, showing the effects of the country’s stimulus package and the rising domestic demand of commodities transportation. However, it is necessary to pay
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Chinese steel market likely to stabilize now
China Metallurgical News cited opinions of the market players that the Chinese steel market is considered having touched an interim high after about five consecutive weeks of climbs and may be adjusted before moving up further.
It’s believed that the upward movements since late April
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It’s believed that the upward movements since late April
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China helped the exporters again by export rebates
Rusmet reported that in January to April 2009 Chinese export reduced by 24.3% as compared to the same period of last year and the shipments of steel goods abroad decreased almost by 60 %. Although in April the situation somewhat improved Chinese government decided after all to give additional
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Thursday, June 11, 2009
Maharashtra vehicle tax hike irks carmakers
BL reported that the Maharashtra Government’s move to hike motor vehicle tax has caught premium carmakers and dealers off guard.
Quite unlike the past, when it was 7% for all vehicles, it has now been revised as a 3 tier tax structure in the recent State Budget. The 7% will now be
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Quite unlike the past, when it was 7% for all vehicles, it has now been revised as a 3 tier tax structure in the recent State Budget. The 7% will now be
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NALCO organizes mobile health camp
As a part of its CSR activities National Aluminum Company Ltd organized a mobile health camp in the periphery village of Puturaghati near its mines and refinery complex Damanjodi.
The medical team lead by Dr MS Rao from NALCO hospital examined around 130 patients and distributed free
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The medical team lead by Dr MS Rao from NALCO hospital examined around 130 patients and distributed free
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OMEL to begin exploration in Nigeria soon
ONGC Mittal Energy Limited plans to begin the Phase I of hydrocarbon exploration in OPL-285 in Nigeria by August 2009.
OPL-285 is a deepwater block, where OMEL, through OMEL Energy Nigeria holds 64.33% participating interest and operatorship. The other partners in the block are EMO (10 per
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OPL-285 is a deepwater block, where OMEL, through OMEL Energy Nigeria holds 64.33% participating interest and operatorship. The other partners in the block are EMO (10 per
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Indian government to form panel to monitor power projects
It is reported that Mr Sushilkumar Shinde union minister for power will be regular monitoring of all power generation projects being implemented in the country.
Chairing a meeting of senior officers of the Ministry of Power and the PSUs in New Delhi to review the progress of capacity
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Chairing a meeting of senior officers of the Ministry of Power and the PSUs in New Delhi to review the progress of capacity
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Mr Deora calls for speeding up work on gas pipelines
It is reported that Mr Murli Deora Minister for Petroleum and Natural Gas said that a program to expeditiously construct trunk pipelines to carry natural gas to new areas should be taken up.
Holding a meeting with the Petroleum and Natural Gas Regulatory Board, Mr Deora underlined that the
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Holding a meeting with the Petroleum and Natural Gas Regulatory Board, Mr Deora underlined that the
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Steel minister wants more local iron ore in steel making
Reuters cited Mr Virbhadra Singh steel minister as saying that India should focus on building iron ore reserves instead of exporting the key raw material in steel making as it looks to boost national steel output.
Mr Singh said "We favor more domestic use of iron ore in steel making. A key
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Mr Singh said "We favor more domestic use of iron ore in steel making. A key
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Macroeconomic indicators - Bangladesh sees 2009-10 GDP at 6%
According to Mr Abul Maal Abdul Muhith finance minister of Bangladesh, Bangladesh expects its economy to grow by 6% in the next fiscal year, despite the global downturn and the government plans to boost spending.
Mr Muhith said that Bangladesh will announce a bigger fiscal budget for the
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Mr Muhith said that Bangladesh will announce a bigger fiscal budget for the
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Slowdown signs - Suzlon to cur workforce at US plant
Suzlon Energy Ltd has decided to slash 160 jobs or more than half of its workforce at its US plant, because of a slowdown.
Mr Vivek Kher a company spokesman said that "There has been a slowdown. There is not enough work to keep all people busy adding the workers would leave in batches
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Mr Vivek Kher a company spokesman said that "There has been a slowdown. There is not enough work to keep all people busy adding the workers would leave in batches
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Maharashtra cancels TLT deal with Kalpataru Power
BL reported that the Maharashtra government has decided to cancel a INR 998 crore contract awarded to Kalpataru Power Transmission Limited under Phase-II of the feeder separation program on the grounds of substandard work.
As per report Mr Sunil Tatkare power minister of Maharashtra made
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As per report Mr Sunil Tatkare power minister of Maharashtra made
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Wednesday, June 10, 2009
Macroeconomic indicators - India turnaround in H2 - CII survey
Zee News cited CII survey said that the Indian economy is expected to recover by the H2 of this fiscal, with the overall outlook for business looking positive during April to September in comparison to the previous 6 months.
The survey, which is based on 132 respondents from industries
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The survey, which is based on 132 respondents from industries
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Rail link for Dhamra port nearing completion
BL reported that the final hurdle to rail connectivity having been overcome, Dhamra Port Company, which is building a new port at Dhamra in Orissa is keen that the construction of railway lines over an 80 kilometer stretch is complete within the deadline. The targeted date of commissioning the
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Steel futures hit lower circuit on all round selling
PTI reported that the downward trend in steel futures continued and prices of the October contract hit lower circuit in afternoon trade on the National Commodity and Derivatives Exchange on Wednesday as speculators indulged in reducing positions on heavy supply in the spot markets.
At 1320
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At 1320
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Macroeconomic indicators - OECD projects further slowing down of Indian economy
Zee News reported that the Organization for Economic Cooperation and Development has projected further slowing down of the Indian economy, even while indicating that China has hit the bottom and is likely to show improvement in the next 6 months.
With regard to other BRIC nations, the
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With regard to other BRIC nations, the
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Indian steel makers for early imposition of AD duties
PTI reported that the domestic steel industry has demanded early imposition of safeguard and anti dumping duties on imports of steel fearing rise in shipments of cheaper alloy from China, which has announced sops on export of such items.
Mr Seshagiri Rao joint MD of JSW Steel said
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Mr Seshagiri Rao joint MD of JSW Steel said
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Indian steel ministry sets agenda for 100 days
According to press release, Mr Virbhadra Singh the union minister for Steel has set a 20 point agenda of the ministry of Steel for the first 100 days of the government. Minister of State for Steel Mr A Sai Prathap, Mr PK Rastogi steel secretary and other senior officers were present.
1. The
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1. The
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SAIL finally gets Jharkhand nod for Chiria mines
BS reported that Steel Authority of India Ltd could soon acquire four pending mining leases in Chiria iron ore mines of Jharkhand.
Mr Virbhadra Singh union steel minister said that “The government of Jharkhand has finally responded positively to a long standing request of this
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Mr Virbhadra Singh union steel minister said that “The government of Jharkhand has finally responded positively to a long standing request of this
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Indian long product prices continue declining without respite
The domestic Indian Steel prices dived further on June 10th 2009. The Indian Long Product Price Index ILPPI dipped by 48 points, whereas Indian Flat Product Price Index IFPPI remained stable with a gain of 7 points. The overall Indian Steel Price Index INDSPI declined by 22 points.
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Tuesday, June 9, 2009
Readymade information to help you expand your reach in India
Last 8 months have spelt doom for almost all walks of life, more so for booming steel and consuming sectors in India. Now every company is taking various measures to remain afloat at these trying times and emerge as winner later
In addition to realigning business processes and improving
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In addition to realigning business processes and improving
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Indian coal minister directs CIL for improving efficiency
According to press release, Mr Sriprakash Jaiswal minister of state for Coal, statistics and program implementation has directed all the officers concerned to improve production and curtail all kinds of pilferages.
Presiding over the review meeting of coal sector, Mr Jaiswal said that that
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Presiding over the review meeting of coal sector, Mr Jaiswal said that that
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TRF eying mergers and acquisitions for growth
ET reported that TRF, a TATA Steel arm specializing in material handling systems, is targeting the merger and acquisition route in a bid to notch up a 5 fold revenue growth by the calendar year 2013. The company is actively looking at a couple of possible foreign acquisition targets and
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Strategic partners now ruled out for SAIL and SCI JV
Mint reported that SAIL and SCI will not involve strategic partners in the JV shipping company they are setting up primarily for providing services to the steel maker.
Union government official briefed on the matter said “It has now been decided to restrict the JV shipping company to
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Union government official briefed on the matter said “It has now been decided to restrict the JV shipping company to
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Steel futures down on selling pressure
PTI reported that steel futures tumbled in afternoon trade on the NCDEX on weak global trend and rising stocks position in the spot markets.
At 1300 hrs on the NCDEX, steel long for the far month August contract fell 0.68% to INR 21,940 per tonne, with an open interest in 1,410 lots. The
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At 1300 hrs on the NCDEX, steel long for the far month August contract fell 0.68% to INR 21,940 per tonne, with an open interest in 1,410 lots. The
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Directory of Re-Rolling Industry in India
Published in January 2009, 'Directory of Re-Rolling Industry in India ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian Re-Rolling industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy
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Why spend hundreds of hours searching for new contacts? Invest in a copy
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Godawari Power restart of steel billets production
Godawari Power & Ispat Ltd has announced that it has partially restarted production of Steel Billets in SMS Division, which was earlier, suspended in view of better realization from sale power and now since the power tariff in short term market have gone down during current month, it has
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Alang set to break down its 5,000 ship
Exim News Service reported that ship breaking activities are in full swing at the world’s largest ship breaking yard, Alang, even as the world is passing through an economic downturn.
In fact, it is the meltdown that has driven more ships to this scrap yard because of the diminishing
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In fact, it is the meltdown that has driven more ships to this scrap yard because of the diminishing
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Areva bags major orders from PGCIL
Areva T&D India Ltd announced that it has consolidated its leadership in 765 kV Extra High Voltage in India by winning 4 major Substations orders from Power Grid
AREVA’s Transmission and Distribution (T&D) division has recently won four orders worth approximately INR 3500 million to
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AREVA’s Transmission and Distribution (T&D) division has recently won four orders worth approximately INR 3500 million to
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Monday, June 8, 2009
Metro rail projects in India need INR 100,000 crores in 10 years
BS reported that the INR 85,000 odd crore investments for metro rail projects so far in India is the starting of a long journey.
According to Mr E Sreedharan MD of Delhi Metro Rail Corporation Limited, the upcoming metro rail projects in the country will require an investment of INR 100,000
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According to Mr E Sreedharan MD of Delhi Metro Rail Corporation Limited, the upcoming metro rail projects in the country will require an investment of INR 100,000
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Rays of recovery - India car and 2 wheelers sale increases in May
PTI reported that domestic passenger car sales increased by 2.48% to 113,490 units in May from 110,745 units in the same month last year.
According to the sourced by the Society of Indian Automobile Manufacturers today, motorcycle sales in the country during the month was up by 12.34% at
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According to the sourced by the Society of Indian Automobile Manufacturers today, motorcycle sales in the country during the month was up by 12.34% at
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Crane erection starts in billet storage yard in SMS 2 of RINL
Rashtriya Ispat Nigam Limited announced that Mr AP Choudhary the newly inducted director projects of RINL has inaugurated erection of Double Girder EOT Rotating Trolley Cranes of Billet Storage Yard in Steel Melt Shop2 of 6.3 MTPA Expansion Project on June8th 2009.
Design, Engineering
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Design, Engineering
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Macroeconomic indicators - Mr Montek puts Indian GDP at 6.7%
PTI cited Mr Montek Singh Ahluwalia deputy chairman of Planning Commission as saying the that India economy should record at least 6.7% growth rate this fiscal, the same as was witnessed in 2008-09.
Mr Ahluwalia said "What I can say is we should at least be aiming at the same growth as
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Mr Ahluwalia said "What I can say is we should at least be aiming at the same growth as
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3 killed at sponge iron plant at Jajpur in Orissa
Statesman News Service reported that 3 laborers of a private sponge iron factory in Jajpur district were killed in the plant premises of Surya Sponge Iron Limited.
According to police, the three workers of Surya Sponge Iron Limited were taking a rest after finishing their respective night
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According to police, the three workers of Surya Sponge Iron Limited were taking a rest after finishing their respective night
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Indian scrap importers, traders and users - Free listing
The Indian steel scrap market is quite defragmenter and not much information is available readily. We often get requests form our readers to provide such details.
To assist the players in the supply chain, we are preparing a directory containing the contact details of users, traders
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To assist the players in the supply chain, we are preparing a directory containing the contact details of users, traders
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Moody's downgrades rating of TATA Steel
Press Trust of India reported that global rating agency Moody's has downgraded its credit rating on TATA Steel, primarily due to the deteriorating operating performance of its European operations, including Corus.
Moody's said that the corporate family rating for TATA Steel has been
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Moody's said that the corporate family rating for TATA Steel has been
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Indian steel prices - Prolonged gloom for longs
The domestic Indian Steel prices remained week on June 8th 2009. The Indian Long Product Price Index ILPPI dipped by 21 points, whereas Indian Flat Product Price Index IFPPI remained unchanged. The overall Indian Steel Price Index INDSPI declined by 11 points.
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Sunday, June 7, 2009
HSL to float first of 6 vessels for Good Earth Maritime
It is reported that Hindustan Shipyard Limited has completed construction of a 53,000 DWT vessel for the Chennai based Good Earth Maritime Limited.
It is learnt that the vessel good pride will be floated later this month. HSL is building 6 such vessels for the Chennai company and Good Pride
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It is learnt that the vessel good pride will be floated later this month. HSL is building 6 such vessels for the Chennai company and Good Pride
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Anti dumping duty
Dumping is said to have taken place when an exporter sells a product to India at a price less than the Normal value of like articles sold in the domestic market of the exporter. However, imports at cheap or low prices do not indicate dumping. Then normal value is the comparable price at which
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SCI orders 2 ships from Cochin Shipyard
Live Mint reported that Shipping Corporation of India Limited has placed orders for constructing 2 anchor handling tug cum supply vessels worth about USD 35 million with Cochin Shipyard Limited.
As per report, the shipbuilding contract between the 2 state owned firms was signed in Delhi on
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As per report, the shipbuilding contract between the 2 state owned firms was signed in Delhi on
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Multiple UMPPs with one firm cause for concern
BS cited Mr Sushilkumar Shinde power minister as saying that awarding multiple ultra mega power projects to a single company is a cause for concern as it could lead to execution delays.
Mr Shinde said "We do not have a problem even if one company gets 10 projects. But it's a concern
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Mr Shinde said "We do not have a problem even if one company gets 10 projects. But it's a concern
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Macroeconomic indicators - Indian recovery still distant
BL cited Dr Duvvuri Subbarao the RBI Governor at a recent briefing as saying that India’s economic recovery would be swift, ahead of the world.
But the current situation does not appear to bear out his optimism.
As per report, Indian economy grew by 6.7% in 2008-09 as against 9% in
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But the current situation does not appear to bear out his optimism.
As per report, Indian economy grew by 6.7% in 2008-09 as against 9% in
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India may appoint NM Rothschild to advice on divestment in PSUs
Reuters reported that NM Rothschild is expected to be the first of a string of I-banks to be part of the advisory panel on disinvestment. The India government has set the ball rolling for divestment of stake in public sector enterprises.
According to this report quoting an anonymous finance
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According to this report quoting an anonymous finance
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Made in India metro rolls out
TOI reported that Mr Narendra Modi CM of Gujarat on June 5th 2009 flagged off what can be called the first truly Indian metro train from a manufacturing plant near Vadodara.
Henceforth, the facility will roll out one Delhi Metro coach a day and wheel it to the capital to cater to the acute
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Henceforth, the facility will roll out one Delhi Metro coach a day and wheel it to the capital to cater to the acute
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Suzlon completes acquisition of Martifer stake in REpower
Suzlon Energy Ltd has announced that the completion of the acquisition of Martifer Group's stake in REpower Systems AG, with a final payment of Euro 87.6 million.
The Purchase of Martifer's stake in REpower by Suzlon was agreed in February 2007 at the time of the joint bid by Suzlon and
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The Purchase of Martifer's stake in REpower by Suzlon was agreed in February 2007 at the time of the joint bid by Suzlon and
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Haldia dock workers call off strike
SNS reported that over 2,000 CITU backed contract laborers in the Haldia Dock Complex, who have been observing an indefinite strike against their existing payment mode since last Monday, finally withdrew their strike on weekend.
As per report, former CPI-M MP Mr Lakshman Seth assured them
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As per report, former CPI-M MP Mr Lakshman Seth assured them
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Wednesday, June 3, 2009
Algiers invites bids for capitals metro project
MEED reported that Algiers is inviting bids for four design contracts on the capital's metro project worth more than USD 1 billion in total. The tenders are the latest developments on the multi billion dollar project, which, after a series of delays stretching back two decades will finally
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DP World assumes operating second concession in Algeria
Global marine terminal operator DP World has formally taken over operations at the Port of Djen Djen, now DP World Djen Djen in accordance with a 30 year operating concession signed early last month.
Officials from the Ministry of Transport and the Ministry of Industry and Foreign
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Officials from the Ministry of Transport and the Ministry of Industry and Foreign
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Logistics and auto aftermarket expos opens at Dubai
Trade Arabia reported that a major material handling products and services show and an auto aftermarket exhibition opened simultaneously in Dubai recently.
Mr Sheikh Ahmed Bin Saeed Al Maktoum president of the Dubai Civil Aviation Authority and chairman and CEO of Emirates Airline and Group
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Mr Sheikh Ahmed Bin Saeed Al Maktoum president of the Dubai Civil Aviation Authority and chairman and CEO of Emirates Airline and Group
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Oil giants to pump USD 375 billion into new projects
According to a new analysis from Ernst & Young, the world’s largest national oil companies and super majors are planning over USD 375 billion of ambitious investments through the down cycle, despite ongoing concerns around oil demand.
The report said thatInvesting for the upturn will
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The report said thatInvesting for the upturn will
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Galfar wins EPC contract to build Nimr Compression Station
Dr Hans Erlings CEO of Galfar said that leading Omani engineering construction firm Galfar has been awarded a contract by Oman Gas Company to build its Nimr Compression Station at a cost of OMR 13.776 million. A 1 year time frame has been stipulated for the completion of the
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Malta Shipyards dry dock repair, conversion and off shore bids
Independent reported that the largest dry-docking repair, conversion and off-shore facilities in the Mediterranean attracted bids which amounted to less than EUR 5 million. This emerged yesterday after reporters on Sunday broke the news that government has asked bidders, who had submitted
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Iran Power Development to tender power plant conversion
MEED reported that State electricity operator to introduce combined-cycle technology at five facilities to boost capacity. State-run electricity operator Iran Power Development Company is to tender the conversion of five gas-fired power plants to combined cycle facilities in the coming
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China to close 31 GW of small power stations in next 3 years
Bloomberg quoted China National Energy Administration said in statement that China will close small power stations with a total capacity of 31 gigawatts and build 50 gigawatts worth of larger generators in the next three years.
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Maanshan, Nanjing and Hangzhou Steel team up in purchasing raw materials
It is reported that Maanshan Steel lately hosted the first meeting on purchasing with Nanjing Steel and Hangzhou Steel indicating the official ally of the three in buying raw materials, so that they would battle against market risks together and lower purchasing costs to increase
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Tianjin Pipe and Huaigang to set up seamless pipe JV
It is reported that Tianjin Pipe Corp and Jiangsu Shagang Group’s Huaigang Special Steel Co Ltd have signed a cooperation agreement this April to jointly build a large gauge seamless steel pipe project.
Both parties are upbeat about the potential in North China for the product
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Both parties are upbeat about the potential in North China for the product
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Xinyu Steel passes AQSIQ check to produce BQ plates
It is reported that after passed the check of General Administration of Quality Supervision, Inspection and Quarantine of China days ago, Xinyu Steel is allowed to produce 15 specs of boiler & pressure vessel plates, low alloy plates for low temperature pressure vessel and high strength
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Baosteel floats medium term bills of CNY 5 billion
It is reported that in order to neaten debts and extend direct financing, Baosteel Co Ltd issued 3 year, CNY 5 billion bills, CNY 100 of face value, 2.66% of single interest to national institutional investors on May 25th with ICBC and CCB posed as lead underwriters and the accounts all
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Monday, June 1, 2009
Russia gets a slice of GM Opel operations in Europe
RIA Novosti reported that Germany and Magna International, backed by Russia's Sberbank and GAZ reached a deal early Saturday that will see the consortium take over car maker Opel, part of US car giant GM.
Magna, Canada's largest auto component maker will acquire a 20% stake in Opel with
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Magna, Canada's largest auto component maker will acquire a 20% stake in Opel with
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Russian Ukrainian gas dispute to be considered at EU summit
Itar-Tass quoted Mr Jose Manuel Barroso who heads the European Commission said the problem of Russo-Ukrainian discord over Russian gas deliveries will be raised at the June 18th to 19th summit of 27 countries of the European Union.
Mr Ferran Tarradellas Espuny who officially represents the
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Mr Ferran Tarradellas Espuny who officially represents the
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Russia may help Ukraine with gas loan in case of European support
Itar-Tass citing Mr Igor Sechin Deputy Prime Minister of Russia as saying that, Russia may assist the issue of a gas loan to Ukraine in case of European support.
He referred to Prime Minister Mr Vladimir Putin proposal made to European Commission President Jose Manuel Barroso, the Czech
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He referred to Prime Minister Mr Vladimir Putin proposal made to European Commission President Jose Manuel Barroso, the Czech
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Mechel to buy Oriel Resources - Report
YIEH reported that Russian Mechel Steel has reached an agreement with international banks that the loan repayment of USD 1.5 billion will be prolonging for two months in order to purchase Oriel Resources Plc.
Mr Dmitry Smolin metals analyst at UralSib bank said "Mechel has a very high
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Mr Dmitry Smolin metals analyst at UralSib bank said "Mechel has a very high
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Downsizing deals - ArcelorMittal Temirtau in deal with workers
Reuters reported that ArcelorMittal Temirtau has reached a deal with its workers to avoid layoffs or shutdowns by introducing 3 month pay cuts for employees instead.
It said in a statement it has introduced limits on bonuses and other payments, reducing the total payroll by 14% following a
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It said in a statement it has introduced limits on bonuses and other payments, reducing the total payroll by 14% following a
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TMK starts LSAW pipe supplies to the Central Karakum-Yylanly Pipeline
TMK, one of the world's leading producers of oil and gas pipes, announced that it began shipments of longitudinal welded large diameter pipes to Turkmengaz State Concern for the Central Karakum Yylanly compressor station pipeline.
The release said “More than 28,000 tonnes of 720mm
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The release said “More than 28,000 tonnes of 720mm
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First fully hydraulic aluminum hot rolling mill in Russia
The Russian aluminum processing company, the Kamensk Uralsky Metallurgical Works now has the first fully hydraulic hot rolling mill in Russia. Siemens VAI Metals Technologies supplied Top Hat hydraulic cylinders and an automatic gauge control system for the new mill. With the new equipment
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Mr Prokhorov to build seven star hotel in Turkey
RIA Novosti reported that metals magnate Mr Mikhail Prokhorov, Russia's richest man, has received permission to build a 'seven star' hotel near Izmir on Turkey's Aegean Sea coast.
The Milliyet daily said that construction work in Cheshme, on the outskirts of Izmir is expected to start
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The Milliyet daily said that construction work in Cheshme, on the outskirts of Izmir is expected to start
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Turkmenistan may have up to 250 billion tonnes of oil equivalent
RIA Novosti citing Mr Odek Odekov the head of a geological research institute at the Central Asian country's state-run corporation said Turkmenistan could have some 200 billion tonnes to 250 billion tonnes of oil equivalent.
Mr Odek Odekov said "Reserves have so far been estimated at
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Mr Odek Odekov said "Reserves have so far been estimated at
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Commercial Port of Vladivostok results for 4 months
According to production management of JSC, Commercial port of Vladivostok in January to April 2009 came to 1,620,300 tonne of cargo. 1,126,800 tonne was handled for export; 252,200 tonne of imported cargo, cabotage cargo-241,200 tone.
Over a period of January-April 57509 TEU was handled by
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Over a period of January-April 57509 TEU was handled by
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Slowdown signs - Russia wagon production dips
RZD Partner reported that the 4 month output of main locomotives increased 1.4% to come to 71 against prior year period. The wagons production declined 52.2% to 6,500; passenger cars down by 24.6% to 484; metro cars output rose 22.7% to 108.
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Inprom paid off for series 03 bonds
Inprom paid off for coupon 6 of its series 03 bonds for the amount RUB 49,164 billion and coupons rate 13%. The rate for coupons 6 and 7 has been set at 13%. Inprom paying agent is Commercial Bank
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