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Monday, November 30, 2009

Indian steel industry likely to hit by Dubai crisis

ET reported that Indian steel industry could likely see an impact on one part, mainly on the long steel segment, which has products used in the construction industry.

According to Mr Sushim Banerjee ED commercial of Steel Authority of India, the financial crisis in Dubai could further delay construction activity, which had come to a halt since early 2008 after a crash in property prices.

Mr Banerjee said that “Dubai is not a large market as far as exports are concerned. But steel companies do supply construction grade steel in Dubai through construction majors like L&T and BHEL. The financial problems in Dubai may have some impact on future steel purchases.”

Some of the other sectors of the steel industry that could likely be affected is the line pipe industry, which makes pipes for transportation of oil from refinery to consuming centres. Since the pipes have to be technically precise, many Indian companies have service centres near to their customers so that the cost of shipping the large pipes is reduced.

The line pipe making companies include Man Industries, PSL, Welspun Gujarat Stahl Rohren and Jindal Saw.

Mr Anil Surekha director (finance) of Ispat Industries said that “Steel supply to Dubai had anyway dropped in the last few months due to an overall slump in the real estate market.” He added that “We don’t see a huge impact in the long term. The world won’t let Dubai economy sink and we expect some aggressive measures soon.”

(Sourced from Economic Times)

Indian Steel - Strategic Overview By Dr AS Firoz

The new study of Dr AS Firoz, currently sold exclusively by steelguru.com, moves away from the common perceptions on the growth potential of the Indian steel industry. The reports critically examines the macro economic conditions globally and in India both in the short and longer term perspectives and brings out some of the most thought provoking points the stakeholders in the industry need to keep in mind.

The study is positive on the immediate future and goes on to say “we expect revival by the turn of the winter with China taking a big lead. The longer term growth perspectives remain unaffected by the short term changes in the intervening period - from the time this study was initiated in August this year and the reader has the report with them”. Further, it says, “ Despite the slowdown witnessed in the past couple of months in steel demand and fall in prices of steel in the local oversupplied market, we have strong reasons to believe that the growth momentum in steel demand will be back soon. However, production growth, especially from the more competitive integrated segment will be subdued in certain product segments. ……The bulk of the Greenfield investment decisions in the pipeline will require careful and thorough re-examination.” However, it says, “The ongoing ‘feel good’ factor in the steel industry is generating pace in completion of the Brownfield projects. ………..Completion of the Brownfield projects will raise valuation of the steel makers manifold”.

On the global economic revival prospects, the report says, “Despite the impressive improvement in the health of the global economy in the past few months, one will have to wait for some more time for stability to return to the financial sector, employment to rise and consumer confidence to be back on track. In the worst case scenario, there is a fear that it will take another two years for the economic recovery to gain stability as the shape of the recovery path may take “W” shape with another fall to come in between. There is no escape for the steel industry from this.”

Also it says, “The Indian steel makers have mostly recovered from the shock they had received in November and December 2008 when faced with an unexpected and a huge drop in sales and had to produce steel with coal and iron ore bought or contracted earlier at record high prices.”

On the future of the steel in India, the report says, “India’s steel demand will remain subdued till 2013-14 and only modest growth can be expected there till then. However, the conditions in the market will change drastically after that and a very sharp rise in steel demand is expected from then till 2020-21(in fact, going beyond that).’

This 70 page report (Plus 35 pages of tables) is an excellent document to start with for strategic thinking on the Indian steel sector.

This e-book is available at INR 30,000 or USD 700.

To order this report please write to reports@steelguru.com or call us at +91 124 4048993

Bahrain new USD 355 million ports to be huge earner

Trade Arabia reported that Bahrain's BHD 134 million Khalifa bin Salman Port is set to be officially launched next month.

The state of the art facility, which has been up and running since April will be opened under the patronage of His Majesty King Hamad and Finance Minister Mr Shaikh

Sourse: More Info

DP World not in Dubai World debt restructuring

Reuters reported that international port operator DP World and its debt are not included in the restructuring of Dubai World.

Recently, the Dubai government said that it will ask creditors of Dubai World and property group Nakheel to agree a debt standstill as it restructures the Dubai

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Government warns JSW led JV on delay in developing coal block

The government has warned steel makers JSW Steel, Bhushan Power & Steel and Jai Balaji of action if they do not take steps to develop the captive mine jointly alloted to them in Jharkhand.

In a notice issued to the three firms on November 16th 2009 for delay in developing Jharkhand's Rohne coal block though joint venture, the Coal Ministry said that "As per the milestone, the company should have obtained approval for its Mine Plan, prior approval of Central Government for Mining Lease, applied for Forest Clearance, Environment Management Plan clearance.

It added that the company has also not mentioned any progress in land acquisition. However the company has submitted bank guarantee and approval of mine plan has also been conveyed.

The ministry warned that "You are advised to remove aforesaid shortcomings and take steps to develop the coal block without any further delay, failing which the ministry could be constrained to take action as deemed appropriate in the matter.”

However, a company source confirmed the receipt of the advisory notice and said the delay is at the state's end. The source confirmed that "We are going ahead of schedule in all the activities from our side. The process of granting of mining lease and forest clearance is stalled at the state government end. We submitted our proposals last year.”

(Sourced from Press Trust of India)

Directory of Steel Pipe Makers in China

Published in December 2008, 'Directory of Steel Pipe Makers in China ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Chinese steel pipe industries.

Why spend hundreds of hours searching for new contacts? Invest in a copy

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Billet prices in Turkey and the Black Sea increase backed

Steel billet prices in Turkey and the Black Sea have risen this week due to higher scrap and iron ore prices although overall demand remained thin with some buying coming from North Africa.

Black Sea FOB billet was quoted between USD 420 per tonne to USD 440 per tonne from USD 405 per tonne


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Astra Industrial Group to take over 51pct stake in Al Tanmia

Astra Industrial Group of KSA announced completing all legal procedures on November 24th 2009 regarding the takeover of 51% of Al Tanmia for Steel Industry after being approved by the general assembly's regular meeting on September 14th 2009.

On July 26th 2009, the Group had received the

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Monday Market Monitor - Middle East (WEEK 48) - Dubai teeters

The market largely remained quiet due to Bakr Id and Haj holidays during the week.

However the more reverberating happening was the possibility of sovereign default looming large as Dubai’s main development engine Dubai world asked creditors for a standstill on paying back its USD 60

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TATAs reject GBP 10 million loan by British government - Report

Indian conglomerate TATA Group has rejected a GBP 10 million British government loan, which was supposed to be used for developing an electric version of one of its existing models.

Sunday Times reported that "The Indian conglomerate TATA has snubbed Lord Mandelson, the business secretary, rejecting a 10 million pound loan for a technical centre in the Midlands.”

Quoting senior motor industry sources the report said the TATAs owner of premium car brands Jaguar and Land Rover and steel maker Corus has in the past few days told the government that it does not want the money. The newspaper citing sources said that "It has decided it can get better terms from commercial lenders.”

Mandelson had last month announced the loan saying that Britain was backing TATA’s research into electric cars.

The money was awarded as part of the Automotive Assistance Program a scheme that was designed to help the car industry overcome the worst of the recession and foster investment in new technology.

(Sourced from http://www.steelguru.com/news/index/2009/12/01/MTIyNzkz/TATAs_reject_GBP_10_million_loan_by_British_government_-_Report.html)

Private oil companies suggest freeing of fuel prices

PTI reported that private oil firms Reliance Industries and Essar along with Royal Dutch Shell pitched for freeing of petrol and diesel prices to give consumers a choice.

Sources said that the three companies in separate presentations to the Kirit Parikh Committee on fuel pricing suggested

Sourse: More Info

Gammon plans INR 5000 crore road project investment

Infrastructure player Gammon India plans to make an yearly investment of up to INR 5000 crore for roads development projects and is looking to bid for 10 projects by fiscal end.

Mr Parvez Umrigar MD of Gammon said that “As of now we plan to invest Rs 1,000-5,000 crore every year on


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Reach Indian steel and allied sectors at competitive rates

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Mangala oilfield output reaches 1 million barrels

Cairn India which began production from the world class Mangala oilfield in Rajasthan in late August has reached 1 million barrels of oil output from the nation's most prolofic onland field.

Sources said that "Cairn achieved the milestone of successfully producing and delivering 1 million

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Wagon shortage spikes cement prices in West, South India

After falling 20% to 30% in the last three months, cement prices have started moving up in western and southern India, thanks to the shortage of railway wagons. Prices in these regions have firmed up in the range of INR 5 to INR 10 for a 50 kg bag in the last one week.

Mr Vinod Juneja MD of

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Sembawang and Kakinada Seaports to form JV

Sembawang Shipyard a wholly owned subsidiary of the Singapore based Sembcorp Marine and Kakinada Seaports announced that they will sign an agreement to form a JV company Sembmarine Kakinada Ltd.

The JV company to be created with an investment of about USD 375 million over 3 to 5 years will

Sourse: More Info

Royal Enfield to ramp up capacity

Chennai based Royal Enfield a niche motorcycle maker and part of Eicher Motors on Friday said it would ramp up capacity to 100000 units from 50,000 by 2013.

The report quoted Mr S Koshy DGM (Sales and Marketing) of Royal Enfield as saying that "The company will expand the capacity to

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Sunday, November 29, 2009

ABG and Bharati open offers for Great Offshore from December 3

The takeover battle for Great Offshore is set to go into the next round as ABG Shipyard and Bharati Shipyard said their competing open offers will begin on December 3.

Both the bidders said the offer period will run simultaneously.

Mr Dhananjay Datar CFO of ABG shipyard said that “The open offer will run from December 3 to 22 and the last date for revising the open offer price will be December 11.

Earlier this month SEBI had rejected Bharati Shipyard's request for taking management control of Great Offshore. Bharati will only be allowed to increase its stake, but not gain management control of Great Offshore. Rival ABG Shipyard has permission to gain management control.

Bharati Shipyard had originally made the open offer for strategic investment, but filed a corrigendum stating that it wanted to make the open offer under Sections 10 and 12 of the SEBI Takeover Regulations (for management control) instead of Section 10 alone.

(Sourced from Business Line)

Government to double wind power generation by 2022

The government plans to double wind power generation capacity to over 20000 MW by 2022 to promote use of renewable resources.

The current installed power capacity from renewable sources of energy stands at about 13,300 MW of which 10,500 MW comes from wind power. The government plans to double wind power generation in the country over the next decade.

Mr Farooq Abdullah minister for new and renewable energy on the sidelines of an Assocham event told reporters that "Currently wind power generation in the country stands at about 10,500 MW. We will double this capacity by 2022 and try to triple it.”

Mr Abdullah said that "We have to add 1,300 MW solar (power) in the next three years...time is less we have to do it fast.”

Meanwhile, the government has set a target of adding 1,300 MW of solar power by the end of the current XIth Five Year Plan (2007-12).

The government recently said it has approved setting up of 20,000 MW grid solar power and 2,000 MW off grid solar power by 2022 under the Jawaharlal Nehru National Solar Mission. The mission aims to develop solar technologies for making solar power competitive to conventional grid power and install 20 million square metre solar thermal collective area by 2022.

(Sourced from Economic Times)

Pakistan should cancel accord with PSA to complete Gwadar Port project

Business Recorder cited Mr Rana Mehmood ul Hassan chairman of standing committee port and shipping as saying that in order to complete the Gwadar Port project, government should cancel the agreement with the Port of Singapore Authority.

He said that Port of Singapore Authority did not do

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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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Argentina to assist Pakistan in exploring new trade markets - Mr Rodlfo

Business Recorder cited Mr Rodlfo J Martine ambassador of Argentina to Pakistan as saying that Pakistan and Argentine with active co operation and understanding can come out of the prevailing global economic recession.

Mr Martine said while addressing the business community during his visit

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Dubai Drydocks World announces LNG conversion project

Dubai Drydocks World announced that work is underway on its first ever Floating Storage Re gasification Unit conversion project known as the FSRU Livorno Project.

The conversion of the Liquefied Natural Gas carrier “Golar Frost” into an FSRU is being handled by the Main

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Shell enters testing phase at Pearl GTL

The Peninsula reported that Pearl GTL will use Shell's proprietary Gas to Liquids technology to convert some 1.6 billion cubic feet of gas per day into high quality, clean burning oil products such as gasoil, high specification lubricants base oils and chemicals feedstock.

The company in a

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Bloom Properties to build a property development in Karbala

Arabian Business reported that Abu Dhabi based developer Bloom Properties is reportedly in talks with the Iraqi government to build a huge property development in Karbala.

According to a report in the National, the development has been valued at USD 18 billion making it the one of the

Sourse: More Info

Friday, November 27, 2009

GC (HDG) price remains flat on Nov 26

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana 0

Mumbai 0

Rudrapur 0



Change is on November 26th as compared to November 25th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Sponge iron price movement in major places on Nov 26

Sponge iron


Location Change

Bellary 0

Kolkata 0

Raigarh 0

Raipur 0


Change is on November 26th as compared to November 25th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

HRC prices remains flat on Nov 26

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Delhi 0

Kolkata 0

Ludhiana 0

Mumbai 0


Change is on November 26th as compared to November 25th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Invitation to use FREE services of world’s largest steel and metals’ portal <a href="http://www.steelguru.com">www.steelguru.com</a>

Dear Sir

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www.steelguru.com is an attempt to make one-of-a-kind place to help individuals and companies in the business of steel and allied materials to do better by utilizing information. We, at Steel Guru, believe that after the age of Information Technology in the earlier years of this decade, now the age of information has come. We also strongly believe in free dissemination of information, unless it is specific in nature and that in coming times users would not pay for information of general nature.

Our effort is centered around steel industry but also covers related fields like raw materials, mining, metals, equipments and logistics etc. We also cover consuming segments like auto, pipelines, infrastructures and shipbuilding etc. General economic indicators and other factors influencing steel business are also covered.
Our team collects news from various sources and edits them to make them easy to read and reader friendly and than post about 150 of them on the website 365 days a year without any break.

Interested users can also submit their basic details by clicking on “New Registration” on our home page for receiving our flagship email newsletter, Steel Trade Today (STT), which is published in 8 versions, absolutely free of charge. Each version has three parts specific news, other news and headlines of balance news with links to website.
1. International
2. Indian
3. Middle East
4. CIS
5. China
6. Stainless and special steels
7. Raw material and mining
8. Metals

www.steelguru.com website has some more features including advance search function, archives, technical information, specifications, glossary and converters etc, which can be accessed by a registered user only. We also partner with industry related events to keep our readers informed about them. In addition, we are selling reports on the industry, most of which are published by other agencies.

For specific information on steel prices, we are running following ventures
http://www.steelprices-india.com
http://www.steelprices-china.com
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More info about Steel Guru - We have created a link on the home page “Tips to use steelguru.com services effectively” http://www.steelguru.com/tips and you can browse through the tips as per your requirement. We shall be publishing one TIP every day form now on to keep you abreast with these developments and possibilities.

www.steelguru.com is operated by a team consisting of several steel industry insiders, as well as IT professionals. The entire effort is supported by the Major & Minor Group

in reference to: Google Sidewiki (view on Google Sidewiki)

Thursday, November 26, 2009

Indian flat product price index down by 6 points

The Indian Long Product Price Index ILPPI went up by 4 points whereas Indian Flat Product Price Index IFPPI went down by 6 points. The overall Indian Steel Price Index INDSPI down by 1 point


Class 24-Nov 25-Nov Change %

ILPPI 5831 5835 4 0.1%

IFPPI 7172 7166 -6 -0.1%

INDSPI 6470 6469 -1 0.0%


ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products


Category 24-Nov 25-Nov Change %

PI - TMT 5525 5536 12 0.2%

PI - WRC 6356 6356 0 0.0%

PI - Angle 5505 5501 -3 -0.1%

PI - Channel 5543 5528 -15 -0.3%

PI - Joist 5200 5213 13 0.3%


PI - Product Index

Flat Products


Category 24-Nov 25-Nov Change %

PI - Narrow Plates 6852 6848 -4 -0.1%

PI - Wide Plates 6984 6984 0 0.0%

PI - Hot Rolled 7016 7012 -4 -0.1%

PI - Cold Rolled 7732 7720 -12 -0.1%

PI - Galvanized 7597 7580 -17 -0.2%


PI - Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Jindal Rail finalizing tech deal with Japanese firm

Jindal Rail Infrastructure Ltd a 100% subsidiary of Jindal ITF the infrastructure arm of Jindal SAW Ltd is likely to finalize a technical tie up with a Japanese company for manufacturing of electric multiple unit coaches at its upcoming wagon making facility at Karjan.

Mr Indresh Batra MD of Jindal SAW Ltd and vice chairman Jindal ITF part of the USD 12 billion O P Jindal Group said that “We are all set to sign an agreement with the Japanese player by the end of this year and can look forward to manufacturing EMU coaches from 2011.”
But he declined to share further details, he claimed the new venture is likely to financially break even by 2011.

Mr Batra said that the company announced an investment of INR 2,700 crore over the next three to five years on the 116 acre Karjan facility that will produce 3,000 stainless steel wagons yearly in the first phase. The first phase investment would be INR 157 crore of which 30% would be equity contribution. The facility would manufacture open type freight wagons for coal and iron ore traffic, as well as covered wagons for cement and foodgrains and container wagons.

Manufacture of a prototype wagon and its approval by the Research Designs and Standards Organisation is expected by January 2011 and series manufacture of wagons can start from February onwards. The electric and diesel multiple units would be manufactured in the second phase. On completion, the project would employ around 4,500 people and nearly 1,500 would be employed in the first phase. Mr Batra said that all fresh procurement by the Indian Railways would be of stainless steel wagons and their demand is estimated at 20,000 wagons per year. Nearly 75 per cent of the the net production from the facility would go to the Railways, while the rest would be for private players.

(Sourced from http://www.steelguru.com/news/index/2009/11/27/MTIyMzI0/Jindal_Rail_finalizing_tech_deal_with_Japanese_firm.html)

TATA and CSN set to become stakeholders in Riversdale Mining

Brazil’s CSN and TATA Steel which had once battled for control of Corus, the European steel company are set to become stakeholders in Australia’s Riversdale Mining.

In an intimation to the stock exchanges, CSN has informed that the company’s board of directors had approved the acquisition of a minority interest of 16.3% in Riversdale Mining. The price per share would be of AUD 6.10.

TATA Steel already has about 20% in Riversdale. A spokesperson said that the company also had an offtake arrangement with Riversdale. Further, TATA Steel has a joint venture with Riversdale Mining for a 35% stake in two coal tenements in Mozambique Benga and Tete including offtake rights to 40% of the coking coal produced from the mines.

(Sourced from http://www.steelguru.com/news/index/2009/11/27/MTIyMzI1/TATA_and_CSN_set_to_become_stakeholders_in_Riversdale_Mining.html)

MDA to host USD 2 billion solar farms

Jordan Times reported that Maan Development Area will host 3 separate plants to be constructed by renewable energy companies to produce electricity from solar power at a total cost of USD 1.5 billion.

Mr Mohammad Turk president of Maan Development Company whose organization runs the affairs

Sourse: More Info

SEC extends deadline for USD 2 billion plant

Reuters reported that State run Saudi Electricity Company has set December 20th 2009 as a new deadline for bids to build USD 2 billion to USD 2.5 billion power plants in Riyadh.

Mr Amer al Swaha head of the independent power producer at SEC said that the deadline was extended due to

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Order book to swell further by March - Mr Chandak MD KEC International

CNBC-TV18
November 2009

KEC International has recently received orders from Power Grid and MSEB. It has also received orders from West Asia worth INR 400 crore. The company also won a further INR 132 crore in orders from Maharashtra State Electricity Distribution Company.

In an interview with CNBC-TV18, Mr Ramesh Chandak, MD of KEC International spoke about the company’s order pipeline and the cables business.

Q - Take us through the order book at this point in time, how much has it expanded it from say six months ago levels?

A - The order book currently is about INR 5,500 crore which is after up to date execution. Earlier also our order levels were around INR 5,500 crore. So, our order intake is currently matching with the execution cycle. We expect a lot many orders in the pipeline in the next four weeks. Currently, this order which we have received from Maharashtra is a rural electrification order, which is to do rural electrification closer to the Kalyan area. This order is worth about INR 132 crore which is to be executed over a period of 18 months time.

Please visit this ink to read full interview
http://steelguru.com/interview/detail/27/Order_book_to_swell_further_by_March.html

McNally Bharat plans restructuring - Mr Srinivash

Engineering firm McNally Bharat is planning to consolidate or separate its global and Indian subsidiaries by next September.

Mr Srinivash Singh MD of McNally told reporters that “We have invited expressions of interest from Ernst and Young, KPMG, Accenture and McKinsey and we will decide by December 10 who will advise us on the right way to consolidate.”

Apart from this, the company has also appointed PricewaterhouseCoopers for studying its organizational and human resource structure.

Mr Singh said that “PwC will suggest to us whether to consolidate or restructure our subsidiaries. Both studies will be completed in six months and by next September, everything will be clear.”

McNally has two subsidiaries in Hungary apart from three in India McNally Sayaji Engineering, McNally Bharat Equipment, and McNally Bharat Infrastructure. It also has a unit in Singapore.

Mr Singh said that “The level of leveraging we would ideally go for as we grow and also the ideal debt equity ratio that we should follow will be suggested by the consultant.”

McNally which Mr Singh said had orders worth INR 3100 crore for the next 18 months, provides turnkey solutions in areas such as power, steel, aluminium mineral beneficiation, coal washing and civic and industrial water supply.

(Sourced from http://www.steelguru.com/news/index/2009/11/27/MTIyMzI3/McNally_Bharat_plans_restructuring_-_Mr_Srinivash.html)

Melting scrap price decreases in Kolkata

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla -200

Kanpur -267

Kolkata -554

Mandi -92

Mumbai 0

Rudrapur -311


Change is on November 25th as compared to November 24th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

MEASPI - Barometer for steel prices in Middle East Asia

Amidst the currently prevailing volatile and speculative global steel price scenario, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis in Middle East.

In order to provide index for steel prices SteelGuru.com decided to work on both

Sourse: More Info

UAE to award nuclear power reactors contract to a French consortium

Reuters cited Mr Henri Proglio head of utility group GDF Suez as saying that UAE will award USD 40 billion contract to build several nuclear power reactors to a French consortium in the next few weeks.

He said that the grouping includes GDF Suez, nuclear engineering group Areva and oil

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Cooperative bonds to be issued next month to fund 8 steel projects - IMIDRO

Iranian Mines and Mining Industries Development and Renovation Organization said that IRR 10 trillion worth of cooperative bonds will be issued next Iranian month to expedite the construction of 8 steel projects in Iran.

Islamic Republic of Iran Broadcasting reported when these 8 projects

Sourse: More Info

Wide plate price falls in Rudrapur on Nov 25

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur -178


Change is on November 25th as compared to November 24th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Plate cuttings prices fall further at Alang

Product Grade Size Change

Plate cuttings Rolling 1” -100

Ship Scrap Melting Mixed 0



Change is on November 25th as compared to November 24th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

British company to build a steel mill in Khour al Zubair - Mr Ali Fadhel

Aswat Aliraq cited Mr Haider Ali Fadhel president of the Basra Investment Commission as saying that he discussed with the manager of a British company the possibility of establishing a steel mill in Khour al Zubair.

Mr Ali Fadhel said that "A British delegation chaired by Mr John Moore

Sourse: More Info

Downward pressure continues on steel prices in the developing nations

Purchasing activity remains subdued in the Turkish market. Downward pressure has continued to be exerted on negotiated finished steel prices. Market participants are presently trying to maintain manageable inventory levels. In the flat product segment, the preference for short term agreements

Sourse: More Info

Rajhi Steel embarks expansion plans backed by real and sustainable demand

Arab Steel reported that Rajhi Steel embarks on huge expansions worth SAR 4 billion which shall lead to increased capacity in the coming 2 years. This came in the work paper presented by Mr Abdulaziz Saleh Al Abboudi CEO of Mohammed Abdul Aziz Al Rajhi and Sons Industry Holding Company, to the

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Indian Railways to build 15 auto hubs across country

To promote traffic of automobiles through the railways, its ministry is considering 15 automobile hubs to be set up on public private partnership across the country.

As per report the railways would provide land for constructing the hubs and the facilities would be set up by private sector

Sourse: More Info

Wednesday, November 25, 2009

Wire rod prices remain flat in major places

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Raipur 0

Rudrapur 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Rebar (TMT) price down in Indore

TMT
Fe 415
12mm


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore -200

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

CR price remains flat on Nov 24

CR
DSK
0.63


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Patra (Narrow HR strips) price up in Ludhiana

Patra


Location Change

Delhi 0

Ludhiana 185

Mandi 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

HRC prices remain flat on Nov 24

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Delhi 0

Kolkata 0

Ludhiana 0

Mumbai 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Sponge iron price up in Raigarh

Sponge iron


Location Change

Bellary 0

Kolkata 0

Raigarh 100

Raipur 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

GC (HDG) price decreases in Ludhiana

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana -185

Mumbai 0

Rudrapur 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Plate cuttings prices fall further at Alang

Product Grade Size Change

Plate cuttings Rolling 1” -200

Ship Scrap Melting Mixed -200


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Wide plate price remains flat on Nov 24

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 0


Change is on November 24th as compared to November 23rd 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Friday, November 20, 2009

INR 563 crore plan to revamp Bangalore power distribution

BL reported that Bangalore Electricity Supply Company has undertaken INR 563 crore programs for automation of its distribution system by 2011-12.

Mr Tushar Giri Nath MD of Bescom said that the effort will be undertaken with the help of INR 417 crore loans from the Japan Bank for

Sourse: More Info

Rays of recovery - Indian Shipping firms back to making profit

Shipping companies are back to making profit after a gap of almost a year as the freight rates for dry bulk carriers surge on import of iron ore and food grain by China. The Baltic Dry Index, the benchmark index for such ships touched 4,381 on Tuesday a 14 month high.

The Baltic Dry index

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PFC NTPC PGCIL and REC ink JV to promote energy efficiency

Power Finance Corporation said it has signed a pact with NTPC Ltd, Power Grid Corporation of India Ltd and Rural Electrification Corp Ltd to set up a joint venture company to promote energy efficiency projects in the country.

The joint venture in which each partner will hold 25% will

Sourse: More Info

Thursday, November 19, 2009

BHEL in search of partner for nuclear turbine and reactor project

BHEL is scouting for a technology partner for its ambitious nuclear turbine and reactor project. The company is likely to set up a unit of 700 MW and a 1000 MW nuclear turbine unit in Bhopal.

As per reports, BHEL is in talks with various technology partners for the projects. The report said

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Petronet may acquire up to 10 pct stake in OPaL

PTI reported that liquefied gas importer Petronet LNG Ltd is keen to acquire up to 10 per cent stake in ONGC Petro-additions Ltd which is setting up a cracker complex in Gujarat.

Mr A K Balyan director (Human Resources and Business Development) of ONGC told reporters that “Petronet


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Indian steel price index reflects rebound in longs

The Indian Long Product Price Index ILPPI went up by 11 points whereas Indian Flat Product Price Index IFPPI went down by 2 points. The overall Indian Steel Price Index INDSPI went up by 5 points



Class 18-Nov 19-Nov Change %

ILPPI 5821 5832 11 0.2%

IFPPI 7179 7177 -2 0.0%

INDSPI 6468 6473 5 0.1%


ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index

Long Products


Category 18-Nov 19-Nov Change %

PI - TMT 5511 5526 15 0.3%

PI - WRC 6349 6356 7 0.1%

PI - Angle 5495 5508 14 0.3%

PI - Channel 5538 5548 10 0.2%

PI - Joist 5201 5205 4 0.1%


PI - Product Index

Flat Products


Category 18-Nov 19-Nov Change %

PI - Narrow Plates 6825 6825 0 0.0%

PI - Wide Plates 6964 6962 -3 0.0%

PI - Hot Rolled 7030 7024 -6 -0.1%

PI - Cold Rolled 7752 7760 8 0.1%

PI - Galvanized 7599 7599 0 0.0%


PI - Product Index

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

High level committee of state ministers - Mr Anand Sharma

Mr Anand Sharma Union Minister for Commerce & Industry of India delivering a keynote address at the first Conference of State Industry Ministers said that Indian industry had made great strides in achieving global competitiveness and becoming one of the most attractive investment destinations

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Indian government measure against slow down

Indian government has taken the following measures in helping the steel industry, including small and medium steel producers, in overcoming the situation arising out of global financial crisis.

These are

1. Export duty on steel items has been withdrawn wef October 31st 2008

2. DEPB on steel items restored wef November 14th 2008

3. Import Duty on iron and non-alloy steel items re-imposed at 5%, wef. November 18th 2008

4. Excise Duty on steel items reduced from 14% to 10% wef December 7th 2008.

5. Countervailing duty on TMT bars and structurals reintroduced wef January 2nd 2009

6. Excise Duty on steel items further reduced from 10% to 8% on February 24th 2009

http://www.steelguru.com/news/index/2009/11/20/MTIxNDM5/Indian_government_measure_against_slow_down.html

MoUs for biogas based power plants at Gaushalas in Haryana

It is reported that the MoUs for setting up of Biogas based power plants at five Gaushalas in Haryana were signed in the presence of Dr. Farooq Abdullah union minister of new & renewable Energy and Mr Jairam Ramesh minister of state (Independent Charge) for environment and forests.

The

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Kochi port extends wharfage waiver for BPCL

Kochi port has extended wharfage waiver to BPCL-Kochi Refinery for back loading of crude oil at Cochin Oil Terminal for one more year.

The move is seen as a strategic measure to increase the cargo throughput and revenue of the port in the long run. The decision was in response to a request

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IRFC to raise INR 4000 crore in 2009-10

Having already mobilised INR 5270 crore in the current fiscal, the Indian Railway Finance Corporation will be raising INR 4000 crore in the remaining part of 2009-10.

As per report to raise these funds, it will use a combination of instruments such as tax free bonds, 15 to 20 year taxable

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Pencil ingot prices post handsome gains across India

Pencil ingot


Location Change

Ahmedabad 100

Bhiwari 0

Durgapur 370

Ghaziabad 0

Hyderabad 0

Jaipur 0

Jamshedpur 0

Kanpur 355

Kolkata 0

Mandi 0

Mumbai 200

Muzzafarnagar 0

Nagpur 370

Raigarh 0

Raipur 185

Rourkela 277

Rudrapur 444


Change is on November 19th as compared to November 18th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Gilbarco to buy Larsen and Toubro fuel dispenser business

US based fuel control service provider Gilbarco Inc said that it would acquire the petroleum dispensing pump business of Larsen and Turbo as part of a plan to increase its presence in the local metering business.

People familiar with the development said that although Gilbarco didn’t

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Sunflag promoter hikes stake

Sunflag Iron & Steel Company gained after one of the promoters hiked his stake in the firm.

As per report Mr Pranav Ravi Bhushan Bhardwaj a promoter of the company hiked his stake to 0.56% from 0.43% after acquiring 212000 shares representing 0.13% of the equity capital of the company

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Mr Manohar elect as president of Indian Society for Training and Development

Mr Y Manohar director (Personnel) of Visakhapatnam Steel Plant who was elected National President of Indian Society for Training and Development, was felicitated by its Visakhapatnam Chapter and other professional bodies like Visakhapatnam Management Association, National Institute of Personal

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JLR acquisition strategic and worthwhile - Mr Ratan Tata

According to Mr Ratan Tata chairman of TATA Group, the acquisitions of the British marquees Jaguar Land Rover as strategic and worthwhile and said the company will strive to bring the old glory of the brands.

Mr Tata said that JLR is likely to continue importing into the country rather than

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Essar Group expects pressure in iron and coal prices

Indian steel mills have cut steel prices twice in the last 30 to 40 days in line with lower international prices. Mr J Mehra director of the Essar Group commenting on how that has impacted the Indian steel sector speaks exclusively to CNBC-TV18.

Q. What do you think is going to be the trajectory going forward, you have already seen two price cuts, do you think before the year is out there can be more of these?

A - I would say what cuts had to be given have been given. In the meantime the international prices have started firming up and there has been an increase of USD 25 to USD 30 in the last two to three weeks in the international markets. So to the extent of the pressure which was there on the Indian pricing, I think that is taken off now. Going forward I believe which have been corrected and there was a correction in the Indian pricing and what has been corrected should hold on. I don’t see much pressure coming up on the next month on Indian pricing.

Having said that I believe that the demand internationally should show some signs of improvement going in first quarter next year that is January to March that should firm up the prices still further. Also there will be a renegotiation of the major input pricing like iron ore and coal in the beginning of the next year. We have to watch as to what happen with that pricing. If the prices, as expected, go up in those commodities, it will certainly stabilise the steel pricing much more.

Q. If you can take a broad sweep in the next 12 months, that is in 2010 we still see large capacities in the steel sector globally one of the most debilitated sectors, what is your forecast or what is your expectation for all of 2010, do you think it will still be a year of tough calls for steel prices in 2010?

A - I believe there will be two different worlds altogether in the steel sector there will be America and Europe, who would be behaving in a different pattern altogether and I have a feeling going forward, they will find the year 2010 still very tough to deal with. Also, they won’t be able to have any surplus capacities where they can come into the markets where there is a demand like Asia. There would be demand in this part of the world and India is well poised from the demand growth point of view.

Right now even this year we are growing in the flat rate of 10%. I expect the demand to grow around 12% or so next year because a lot of investment we see coming in the infrastructure sector. And the way the entire investment is being made today in the sector such as power, roads and ports we can see the pull in these areas. So whatever may happen to those markets, I am not really much worried about the impact of those markets on the Indian market.

Having said that, there is only one thing one has to be worried about is that is China they have been making lot of investment during this period in developing infrastructure. And that has been one of the major reasons there has been a demand pull in terms of steel, internationally. It hasn’t shown in overall figures, globally it has dipped as much as it was projected. But that is basically on the demand which has risen in China and India based on the stimulus packages these two countries have put in place. If that stimulus package is not kept on, that can be very dangerous that is the only danger one needs to look at not really the developed world as an issue.

Q. You have recently made a very big investment in the value added space Shree Precoated at INR 1200 crore is that the space you see good demand off tick the galvanized space and even what sense is your trajectory on iron ore prices and coke prices going forward?

A - Right now the iron ore and coal price compared to last year have gone up in the spot markets. Going into next year when they go for the longer term contract there would be pressure on these prices and that would bring some stability in the steel pricing. We have taken over Shree Precoated obviously from the point of view that we are growing; we will be around 10 million tonne next year of steel making capacity with the commissioning of the all new units that have started now. It was important for us to increase the product basket and therefore we have added up Shree Precoated as a product basket of value addition in the sense they have 400 tonne capacity of the colour quoted which we didn’t have, so that is a definite addition to our total product basket.

(Sourced from http://www.steelguru.com/news/index/2009/11/20/MTIxNDQx/Essar_Group_expects_pressure_in_iron_and_coal_prices.html)

Pratibha Industries bags NTPC Mauda STTP contract

Pratibha Industries Ltd has informed BSE that the company has secured Circulating Water and Make-up Water System Civil Works Package for Mauda Super Thermal Power Project (2 X 500MW) from NTPC Ltd.

The total contract value is INR 58.85 crore excluding the raw material cost to execute the

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Gujarat NRE to double coal production

Mr Arun Kumar Jagatramka MD of Gujarat NRE Coke in a recent interview with CNBC TV18 spoke about the company’s performance and its further growth. Here is a verbatim transcript of an exclusive interview with CNBC TV18.

Q. How have your end product prices panned out since the end of

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Nobel Group opposes Paradip port move to mechanize berth

BL reported that Paradip Port Trust’s bid to mechanise the CQ3 berth has run into rough weather.

As per report Nobel Group led consortium which has been awarded the contract for constructing a deep draft iron ore berth on BOT basis through the public private partnership mode is

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RINL worker wage talks remain deadlocked

BL reported that the talks for revision of wages for Visakhapatnam Steel Plant failed on Thursday with the unions rejecting the management’s insistence on submission of a letter of support for 24% minimum guaranteed benefit.

Following adjournment of the meeting held in New Delhi, the National Joint Committee for Steel Industries decided to hold next round of talks on November 29.

Mr D. Adinarayana president of Visakha Steel Workers Union, the recognised union of VSP, said they expressed their protest over inordinate delay in wage revision by observing strike for a day on November 4 and threatened to launch an indefinite cease work agitation if their demands were not conceded by November 29.

During the discussions last week, the management had agreed for 78.2% DA merger and wage revision once in five years with willingness for 19% MGB. With the unions insisting on 28% MGB, the talks were deadlocked.

(Sourced http://www.steelguru.com/news/index/2009/11/20/MTIxNDQy/RINL_worker_wage_talks_remain_deadlocked.html)

McNally Bharat bags CHP order from SAIL RSP

McNally Bharat Engineering Company said it has bagged an order worth INR 306.45 crore for engineering related works at Steel Authority of India Limited’s Rourkela Steel Plant.

McNally Bharat in a filing to the Bombay Stock Exchange said that among various works, one is for design and erection of new coal handling plant at Rourkela Steel Plant.

The filling said that the contractual period for completion of the project is 24 months.


From: http://www.steelguru.com/news/index/2009/11/20/MTIxNDQz/McNally_Bharat_bags_CHP_order_from_SAIL_RSP.html

Investment in Indian steel industry possible anywhere n the country

The Indian union government announced that entrepreneurs are free to set up steel plants anywhere in the country except in restricted locations based on their commercial judgement.

According to the New Industrial Policy announced in July 1991 steel industry has been de licensed and removed

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JSW Steel has no plans to sell US operations - Mr Jindal

Dow Jones Newswires reported that JSW Steel Ltd has no plans to sell its struggling US operations despite low demand for its products.

Mr Sajjan Jindal vice CMD of JSW Steel, while speaking to reporters on the sidelines of a company event to announce a strategic tie up with Japan's JFE

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Wednesday, November 18, 2009

OPEC unlikely to impose further cuts before December

Khaleej Times reported that members of the Organization of Petroleum Exporting Countries are unlikely to enforce further oil production cuts before their next joint meeting in December, though they perceive that the market remains oversupplied.

Mr Jose Botelho de Vasconcelos president of

Sourse: More Info

Arabtec chief eying further opportunities in MENA

Arabian business cited Mr Riad Kamal CEO of Arabtec as saying that company will bid for further work in Abu Dhabi while it is also eyeing projects in Bahrain, Algeria, Egypt, Libya and Syria. Bahrain, Egypt and Syria are among the markets being considered for new projects by UAE construction

Sourse: More Info

Plate cuttings prices remain flat at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 0

Ship Scrap Melting Mixed 0


Change is on November 17th as compared to November 16th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

GC (HDG) price remains flat

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana 0

Mumbai 0

Rudrapur 0


Change is on November 17th as compared to November 16th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Patra (Narrow HR strips) price remains flat in Delhi

Patra


Location Change

Delhi 0

Ludhiana 0

Mandi 0


Change is on November 17th as compared to November 16th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

http://www.steelguru.com/news/index/2009/11/19/MTIxMTcy/Construction_to_boost_MENA_steel_demand_by_7pct.html

CR
DSK
0.63


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -462

Kanpur 0

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0


Change is on November 17th as compared to November 16th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Construction to boost MENA steel demand by 7pct

Reuters reported that steel demand in the Middle East and North Africa region will rise by 7% in 2010 to around 60 million tonnes on the back of robust construction spending.

Mr George Matta marketing director at Ezz Steel said that he expected the region's consumption to fall by a slight

Sourse: More Info

Arab consumption of finished products tops 46 million tonnes in 2008

Arab Steel reported that Mr Mohamed Laid Lachgar secretary general of Arab Iron & Steel Union emphasized the importance of having Arab companies with capacities reaching 5 million or even 10 million tonne per year of finished iron and steel products, as the global trend for the expansion in

Sourse: More Info

Turkish wire rod exports in October hit monthly record

Steel Orbis reported that in October, Turkey's wire rod exports surged in volume and in revenue for the 6th consecutive month, reaching their highest monthly levels recorded in 2009.

According to the statistics released by the Istanbul Mineral and Metals Exporters' Association, in October

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MMK Atakas closes financing for Turkish steel JV

Reuters reported that Magnitogorsk Iron and Steel Work’s Turkish JV MMK Atakas has closed financing for integrated steel plant JV in Turkey.

Financing comprises of EUR 384 million export credit facility and USD 450 million commercial facility along with USD 60 million working capital

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National highways must have efficiency boost- TCI IIMC report

Transport Corporation of India Limited in association with IIM Calcutta unveiled a study report on Operational Efficiency of National Highways for Freight Transportation in India. The report was unveiled by Mr Brahm Dutt secretary ministry of road transport and highways.

The research report

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Financial closure of Nagarjuna Construction thermal power by March

Nagarjuna Construction Company expects financial closure for its proposed 1,320 MW thermal power plant in the backward district of Srikakulam in Andhra Pradesh by March end.

The project involves a capital outlay of INR 69.55 billion of which about INR 50 billion would be funded through

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RIL to hike Jamnagar unit capacity

BL reported that Reliance Industries Ltd will expand its Jamnagar petrochemical complex by adding two-million tonnes a year of olefins and matching downstream capacities.

Mr Mukesh Ambani CMD of RIL at the company's 35th AGM told shareholders “Reliance has taken up new petrochemical

Sourse: More Info

Indian government clears 17 FDI proposals

The Indian government today approved 17 foreign direct investment proposals worth INR 1158.78 crore. As per report among the major proposals which were approved are the FDI applications of the world’s largest steelmaker ArcelorMittal and ductile iron pipe maker Electrosteel

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Bids invited for four laning of Hazaribagh to Ranchi section

The NHAI has invited EoIs from prospective consulting engineering firms/companies/JVs for the four laning of Hazaribagh to Ranchi section from 40.500 to 114.000 kilometer of NH 33 in Jharkhand.

The project’s scope of work includes design, engineering, finance, procurement, operation

Sourse: More Info

Tuesday, November 17, 2009

Pencil ingot price movement in major places on Nov 16

Pencil ingot


Location Change

Ahmedabad 200

Bhiwari -100

Durgapur 370

Ghaziabad -100

Hyderabad 0

Jaipur -100

Jamshedpur 277

Kanpur 0

Kolkata 0

Mandi 92

Mumbai 200

Muzzafarnagar 178

Nagpur 185

Raigarh 0

Raipur 0

Rourkela 185

Rudrapur 0


Change is on November 16th as compared to November 13th 2009
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

GMR Hyderabad Airport pushes back breakeven date to 2020

The economic downturn and lower than expected revenue collections have made GMR Hyderabad International Airport Ltd which operates the Hyderabad international airport stretch its projected breakeven schedule of 2014 by another six years.

GHIAL a GMR group company, which built the Rajiv

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Indian Railways freight revenue up by 9pct in 7 months

The Railways have generated INR 32216.25 crore of revenue earnings from commodity wise freight traffic during April to October 2009 as compared to INR 29555.92 crore during the corresponding period last year, registering an increase of 9%.

As per report Railways carried 501.28 million tonnes of commodity wise freight traffic during April to October 2009 as compared to 467.97 million tonnes carried during the corresponding period last year, registering an increase of 7.12%. The Net Tonne Kilo Meters went up from 302518 million during April to October 2008 to 330278 million during April to October 2009, showing an increase of 9.18%.

Breakup of the total earnings of INR 4801.95 crore from commodity wise freight traffic during the month of October 2009 is as under

1. INR 1811.55 crore came from transportation of 32.08 million tonnes of coal

2. INR 773.14 crore from 11.94 million tonnes of iron ore for exports, steel plants and for other domestic user

3. INR 426.75 crore from 7.46 million tonnes of cement

4. INR 328.85 crore from 2.92 million tonnes of food grains

5. INR 270.35 crore from 3.31 million tonnes of petroleum oil and lubricant

6. INR 265.82 crore from 2.45 million tonnes of Pig iron and finished steel from steel plants and other points

7. INR 336.36 crore from 4.52 million tonnes of fertilizers

8. INR 69.32 crore from 0.90 million tonnes of raw material for steel plants except iron ore

9. INR 203.07 crore from 2.54 million tonnes by container service

10. INR 316.74 crore from 5.34 million tonnes of other goods.

http://www.steelguru.com/news/index/2009/11/18/MTIwNjU0/Indian_Railways_freight_revenue_up_by_9pct_in_7_months.html

BGR Energy Systems order book up by four fold in 18 months

BGR Energy Systems Limited has announced that the order book of the company has grown four folds in a span of 18 months from INR 32 billion at the start of FY 2008-09 to INR 122 billion, by now.

The jump in the order book is primarily on account of orders from four large power

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Kirloskar Oil Engines to sell stake in JV companies

Kirloskar Oil Engines Ltd has announced that the company will be selling its entire shareholding in the joint venture companies to Kirloskar Systems Ltd for a total consideration of approximately INR 250 crores and will he exiting the respective joint venture agreements.

Kirloskar Oil

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Stimulus plans - Not to be withdrawn at once

The Indian government said that stimulus packages to perk up the economy during the slowdown are not likely to be withdrawn this fiscal and the exit when it happens will be a gradual one.

Cabinet Secretary Mr KM Chandrasekhar on the sidelines of a CII event on competition policy told

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Suzlon US bags 10 wind turbine orders

Suzlon Energy said its US based arm Suzlon Wind Energy Corporation has received order for the supply of 10 wind turbines.

Suzlon in a filing to the Bombay Stock Exchange said that a step down wholly owned subsidiary of the company has bagged an order to supply 10 Suzlon S88 2.1 MW wind turbines that would generate 21 MW of energy for the Grant County Wind Farm at Minnesota in USA.

However, the company has not disclosed the financial details of the project. Construction on the site has already begun and the wind farm is expected to be in commercial operation in the first quarter of 2010.

(Sourced from http://www.steelguru.com/news/index/2009/11/18/MTIwNjU1/Suzlon_US_bags_10_wind_turbine_orders.html)

Sponge iron price recovers in Raipur

Sponge iron


Location Change

Bellary 0

Kolkata 0

Raigarh 0

Raipur 200


Change is on November 16th as compared to November 13th 2009
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Indian to launch 20000 MW solar power plan

According to minister for new and renewable energy, India will soon launch an ambitious plan to boost its solar power generation from 3 MW to 20,000 MW by 2022.

Mr Farooq Abdullah told reporters that “The amount which we are going to talk about is huge. I can only say that

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MV Platinum II not allowed to beach at Alang

BL reported that the Indian government is refusing permission to berth the controversial ship MV Platinum II in Gujarat for dismantling.

Mr Komal Kant Sharma the owner of Leela Ship Recycling Pvt Ltd said that they had offered to buy the decommissioned ship for USD 4.85 million and was

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Macroeconomic indicators - CMIE increases GDP growth forecast

The Centre for Monitoring Indian Economy has revised its real GDP growth forecast for the current fiscal year to 6.2% from the earlier 6%. The upward revision in the GDP projection comes on the back of a better performance of the country's economy in H1 of the current fiscal.

The economic

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Bharat Forge plans foray into power sector

The Kalyani Group’s flagship company Bharat Forge is planning to make a big foray into the power sector with an investment of up to INR 50000 crore and a targeted generation capacity of up to 10,000 MW, over the next ten years.

According to industry sources, the company plans to set

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CS India bags major order from Tebma and Bharati shipyards

PTI reported that Dutch steel major Central Industry Group's wholly owned subsidiary, CS India Steel has bagged orders worth INR 175 crore from Tebma and Bharati Shipyards.

Mr Alfred Tuinman MD of CS India Steel told PTI that "We have bagged orders from leading Shipyards Tebma and

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Monday, November 16, 2009

Rays of recovery - Indian auto sales zoom in October 2009

A big surge in the sales of passenger cars and medium and heavy commercial vehicles raised domestic vehicle sales in October to 1,000,760 units up by 15.62% YoY than the 865,566 units sold in the same month last year.

According to the Society of Indian Automobile Manufacturers, this was a continuation of the double digit sales growth posted by the industry since April this year. The only exception was the month of September, when overall sales growth slowed to 7.67%.

October’s healthy sales growth for the overall automobile industry came on the back of record double-digit growth of 33% for passenger cars and 11% in the sales of two-wheelers.



Segment Oct '08 Oct '09 Change

Two wheelers 678,245 750,229 10.61

Three wheelers 33,026 39,926 20.89

Passenger vehicles 126,276 168,043 33.08

Commercial vehicles 28,019 42,562 51.9

Total 865,566 1,000,760 15.62


(Sourced from Siam)

A positive sales growth notched up by the M&HCV segment large trucks in the goods carrier segment for the third continuous month also helped the industry. This segment, which posted a positive growth of 1 and 3 per cent in August and September respectively this year, grew by a whopping 64.14 per cent in October after the industry sold a record 16,048 vehicles last month.

Total sales of commercial vehicles, including light CVs in the goods and passenger segment, grew 52% to 42,562 units last month. The increase in infrastructure spending by the government also helped sales.

(Sourced from http://www.steelguru.com/news/index/2009/11/17/MTIwNTA3/Rays_of_recovery_-_Indian_auto_sales_zoom_in_October_2009.html)

Kolkata Port invites bids for multipurpose jetty at Haldia Dock

The Kolkata Port Trust has invited global tenders from interested companies for the construction of a riverine multipurpose jetty in upstream of 3rd oil jetty along with all required backup facilities at Haldia Dock Complex.

The project is likely to be executed on DBFOT basis for a

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Russia and US expertise on coal gas projects likely

Indian government is likely to seek expertise from Russia and the US for its ambitious project to convert coal into gas as part of developing alternate energy sources.

Mr Sriprakash Jaiswal Coal Minister is planning to lead a high level delegation to both the countries in January and hold

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Update on Kasaragod power project in Kerala

The Kerala State Industrial Development Corporation is looking for a consultant to do an Environment Impact Assessment study for the proposed mega power project at Cheemeni in Kasaragod district.

As per report, the state cabinet gave the go ahead for the project in February this year and

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DMRC eying 25pct revenue increase

Delhi Metro Rail Corporation is expecting its revenues from traffic operations to increase by 25% this financial year due to the increase in average daily passengers after the inauguration of various new routes, including the Yamuna Bank to Noida Sector 32 stretch which will be commissioned

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Steel minister calls for expediting steel projects

Mr Vir Bhadra Singh Indian steel minister has called for expediting implementation of steel projects as the country has set a target of producing 124 million tonnes of steel by 2011-12.

Mr Singh said that “We have to expedite implementation of steel projects. Problems on raw materials and infrastructure should be resolved.”

He said that altogether 33 million tonnes of new capacity would come up by 2012 in the Brownfield sector. He added that progress in this area is satisfactory and state -owned Steel Authority of India Ltd would add 13 million tonne in production in five integrated steel plants of which two were in West Bengal.

Similarly, another PSU Rashtriya Ispat Nigam Ltd was at an advanced stage of increasing the capacity to 6.3 million tonne from the present 2.9 million tonne while private players like TATAs and JSW have added capacity of 5 million tonne.

Mr Singh said that many private companies have signed MoUs for setting up steel projects with various state governments. The minister added that there was some delay in implementing large steel project due to problem in land acquisition.

Describing land as a sensitive issue, Mr Singh said it involved rehabilitation and resettlement which the industry must keep in mind. He said demand growth of steel in the country had touched 13 per cent in 2007-08 supported by construction, infrastructure, real estates and housing sectors.

(Sourced from http://www.steelguru.com/news/index/2009/11/17/MTIwNTA4/Steel_minister_calls_for_expediting_steel_projects.html)

NTPC share sale to fetch USD 1.8 billion - Mr Mitra

It is reported that a 5% stake sale of the state run power producer National Thermal Power Corporation could fetch the government USD 1.8 billion.

Mr Sunil Mitra disinvestment Secretary said that the government mandated more sales of shares by state firms and changed the rules on how it can

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Scrap importers, traders and users - Final call for listing

The Indian steel scrap market is quite defragmenter and not much information is available readily. We often get requests from our readers to provide such details. To assist the players in the steel scrap supply chain, we are preparing a directory containing the contact details of users, traders, importers and overseas suppliers.

We have already compiled more than 2,000 entries and plan to release this directory by next week end.

If you are part of the steel scarp market, you could send us the following details for free listing in the upcoming directory - “Indian steel scrap supply chain” strictly in the following format with al details

Company Name -
Website -
Contact Person -
E Mail -
Phone -
Fax -
Mobile -
Address -
State -
City -
Country -
Area Code -
Phone Code -
Business - Steelmaker / Agent / Overseas supplier

Kindly send the information by e mail at reports@steelguru.com

In case you are interested to advertise in this directory, please send a mail to adverts@steelguru.com

POSCO war zones - Official talks to UAC members

Statesman News Service reported that officers of the district administration interacted with the members of United Action Committee to restore peace and create a conducive atmosphere for the proposed POSCO project.

The UAC members drew attention of the administration to the families who had

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60 PSUs in radar for disinvestment

It is reported that the Indian government has begun consultations with various ministries for sale of stakes in the public sector units.

Mr Sunil Mitra disinvestment secretary said that 60 Central Public Sector Enterprises fulfil the criteria for disinvestment.

Mr Mitra said that pf

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Paradip Port update on salvaging MV Black Rose

It is reported that Paradip Port Trust authority has taken steps to remove the salvage of sunken vessel and its cargo to check the pollution after the decision of the central government.

The Assembly Standing Committee on environment led by Mr Amar Sathpathy chairman of Paradip Port visited

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Ramsarup Industries signs power purchase pact with WBSEDCL

Ramsarup Industries, a leading manufacturer of steel wires, has signed a power purchase agreement for its waste heat, CO gas based 22 MW power plant with West Bengal State Electricity Distribution Company a state government owned electric utility company.

The 22 MW power plant was

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MMTC stake sale may get completed in 1 year

MMTC has said the Indian government’s plan to sell some of the company’s shares may take at least one year to complete.

Mr Sanjiv Batra chairman of MMTC told reporters that “The Divestment Ministry has asked for some details. We expect the process to be completed in a

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Tribals protest against TATA Steel Chhattisgarh project

ANI reported that hundreds of tribals including women in Chhattisgarh Bastar district last week reiterated their opposition at a public hearing against a TATA steel plant project being set up in Bastar.

The villager told ANI that we have to attend this meeting, where around ten villages

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Iron ore mines should be with steel ministry - Mr Singh

Business Standard
November 2009

Mr Virbhadra Singh union steel minister during an interview with Ms Sreelatha Menon of Business Standard, while addressing several iron ore mining issues effecting the development of Indian steel industry asserted that after mines are exhausted, the land

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Sunday, November 15, 2009

Steel majors scamper to maintain sales in South India

Of late, due to paucity of demand, depressed price levels have become integral to the Indian steel market. The factors underlining this abject condition have been a favorite topic of introspection but it would be appropriate to delve into the activities of the suppliers and buyers post debacle rather than indulge in routine post mortem.

Flat product prices, a vital benchmark for the industrial demand and economic growth, have not shaken stupor for the last couple of months. As is evident prices of HRC, CRC and GP in Chennai have slumped week on week by about INR 952 per tonne, INR 2100 per tonne and INR 3300 per tonne respectively in the last 45 days despite all the hullabaloo drummed up by government and the industry in tandem.

HRC
Tube
2.5x1250


01-Oct 31900

08-Oct 31400

15-Oct 31400

22-Oct 31400

29-Oct 31400

06-Nov 30948

13-Nov 30948


In per tonne
Exclusive of ED and VAT

CR
DSK
0.8x1250


01-Oct 37100

08-Oct 36500

15-Oct 36500

22-Oct 36000

29-Oct 36000

06-Nov 36000

13-Nov 35000


In per tonne
Exclusive of ED and VAT

GP
100Gms
0.8


01-Oct 42300

08-Oct 40800

15-Oct 40800

22-Oct 40000

29-Oct 39000

06-Nov 39000

13-Nov 39000


In per tonne
Exclusive of ED and VAT

The much touted revival in steel market seems a misnomer in the backdrop of the abysmal market performance in the last couple of months. Need based buying is the prevailing approach as buyers prefer to wait for a more “sensible deal”.

Some murmurs of revival in auto and power sector have come as a welcome reprieve although its impact is limited due miniscule share of Indian majors in this value added segment. Demand from auto majors like Ashok Leyland, TATA Motors, Hyundai and Ford motors and project based demand from BHEL, L&T etc has proved to be savior to some extant.

Indian steel majors viz., JSW, Essar, TATA Steel, SAIL etc have resorted to empirical marketing strategies including volume based discount and hike in dealers margin.

Import has contributed its bit in the quagmire. It is learnt that about 15000 tonnes of CRC was imported at a landed price of INR 31000 per tonne. Ironically, even this quantity is facing liquidation problems due to lack of demand. About 9000 tonne is still left unsold after 1 month of arrival.

The situation looks all set for an extended dry spell with no significant activity in other consuming segments viz., tube making , fabrication ,furniture ,cable tray, drum making etc which is catered by the retail . The Chinese flat product prices have shown a token revival in the last fortnight but it cannot be ascertained as stable phenomenon with bipolar symptoms from Ukraine and Russia.

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Special package for tracking Indian input material prices

Indian Steel prices have been through a tumultuous phase for over an year. The swinging fortune has a strong correlation with the raw material prices and vice versa. It is imperative for the steel producer, user or trader, however big or small to keep a tab on the raw material prices to have a

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Macroeconomic indicators - Inflation up in Oct due to rise in food prices

As per the new monthly index introduced led by costlier food prices, wholesale inflation rose to 1.34% in October compared with 0.50% in the previous month.

The report said that fuel and power category rose by 0.1% during October mainly due to higher prices of furnace oil by 3% and bitumin

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India steel demand up by 7pct in 7 months on auto boost

According to Mr Atul Chaturvedi steel secretary of India, India’s steel demand grew by 7% in the first seven months of the fiscal year up to October, spurred by the needs of makers of cars and appliances and builders of rural homes.

The minister said that demand for some products rose 9% in the same period. But the minister gave no further details.

He said that increasing demand for automobiles, refrigerators and air conditioners and rising farm income are boosting steel sales in India, the world’s second fastest growing major economy.

According to November 12 government data, the nation’s industrial production in September rose 9.1% from a year earlier.

Mr Pramod Rastogi former steel secretary said that steel consumption rose 5.7% to 26.49 million tons in the six months ended September 30 from a year earlier. He added that India’s steel demand may gain as much as 10 percent this fiscal year, almost double the pace previously estimated, as the government spends more on infrastructure.

The World Steel Association said that the emerging economies of China and India will rebound faster than developed nations.

(Sourced from http://www.steelguru.com/news/index/2009/11/16/MTIwMzg2/India_steel_demand_up_by_7pct_in_7_months_on_auto_boost.html)

Mr Muthuraman honored with IIM JRD Tata award

Mr Virbhadra Singh union minister of steel away the IIM JRD Tata award for “Excellence in corporate leadership in metallurgical industries” to Mr B Muthuraman vice chairman of TATA Steel, at a at the MMME 2009 function in Kolkata on

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Special package for tracking Indian flat product prices

The happenings in the global steel industry has left no quarter unscathed. A steel producer, user or trader, however big or small, is always concerned about steel prices as it is a big ticket item, but there is no bench mark available to steel buyers to compare their transaction prices.

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IBM eying opportunities in Indian steel segment

Global technology company IBM is focusing on the Indian steel market as a growth driver and is offering solutions and services to steel majors like Ispat, Bokaro, Jindal companies and TATA Steel in the country.

With a lot of activity happening in the infrastructure sector and integrated

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