CPC of Saudi launches a new holding company in Qatar

CPC Holding has announced launch of a new holding company called QD SBG Group in a press conference at the Four Seasons Hotel in Doha of Qatar. The new holding company is a partnership between the Saudi Binladin Group Company and Qatari Diar Real Estate Company marking the first JV between Sourse: More I...

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UAE firms look massive investment opportunities in 750 projects

Reuters quoted a senior Iraqi official as saying that UAE stands to win a massive chunk of the investment opportunities available in Iraq that is currently under reconstruction. Dr Sami Al Araji chairman of the Iraqi National Investment Commission said that Iraq would require foreign direct Sourse: More I...

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Pakistan plans to auction 43 oil and gas blocks

The News quoted an official of the Ministry of Petroleum and Natural Resources as saying that Pakistan government has planned to auction 43 oil and gas exploration blocks in June 2010 in an attempt to mitigate the energy crises in the country, which has aggravated owing to the rising fuel Sourse: More I...

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Sharjah highways to get AED 850 million upgrade

Khaleej Times reported that a total of AED 850 million worth of upgrade work will be completed on Emirates Road in Sharjah. Mr Salah Butti Obaid bin Buttim director general of Sharjah Planning and Survey Department said that extra lanes would be built as well as pedestrian crossings. Sourse: More I...

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Sharjah highways to get AED 850 million upgrade

Khaleej Times reported that a total of AED 850 million worth of upgrade work will be completed on Emirates Road in Sharjah. Mr Salah Butti Obaid bin Buttim director general of Sharjah Planning and Survey Department said that extra lanes would be built as well as pedestrian crossings. Sourse: More I...

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OPEC leaves output steady amid steady demand

It is reported that OPEC ministers agreed not to change oil output targets they are already exceeding, anticipating that demand will pick up later in the year to mop up extra barrels the producers may pump. But with economic recovery still fragile as powerhouse China considers curbs on Sourse: More I...

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Deutsche Bahn bags deal to build ultra modern rail systems in UAE

Germany's state owned railway company Deutsche Bahn announced plans to plan, build and operate ultra modern rail systems in the United Arab Emirates. The company said that Mr Peter Ramsauer German transport minister, Mr Ruediger Grube CEO of Bahn and Mr Abdullah Al Masaood chairman of Sourse: More I...

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Steel price hike threatens recovering housing market in Jordan

A leading developer has warned a rise in steel prices may cause developers to suspend some of their housing projects. Mr Zuhair Omari president of the Housing Investors Society said that “There are some investors who obtained licenses to implement housing projects but now they are Sourse: More I...

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Steel price increases in the Kuwait domestic market

Steel prices in Kuwait have resumed their upward spiral after their decline during the global financial crisis and the price of one ton has reached KWD 220 compared with KWD 140 during the crisis. As per report, traders expect further hikes in the coming few days and some local steel plants Sourse: More I...

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Al Tuwairqi Group keen on resurrecting project in Sharjah and UAE

MEED reported that USD 400 million steel projects in Sharjah that is currently on hold should be resurrected by the end of 2010. A source familiar with the project said that the scheme, which is being developed by the Saudi Arabian Al Tuwairqi Group, involves the construction of a direct Sourse: More I...

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SeAH Steel plans a plant at RAKIA

Ras Al Khaimah Investment Authority announced that SeAH Steel Corp, a leading steel manufacturer from South Korea, has signed a lease contract for 250,000 square meters of land to build a manufacturing plant within Rakia's Industrial Park. The successful manufacturer of steel pipes, tubes Sourse: More I...

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SULB set to build steel plant in Bahrain

United Steel Company, a joint venture between Bahrain based Gulf United Steel Holding Company, the Middle East’s leading steel investment vehicle and holding company (owning 51% of SULB), and Japan’s Yamato Kogyo Co., Ltd, a leading global beams and structural sections producer Sourse: More I...

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Indian long product price index further up by 71 points

The Indian Long Product Price Index ILPPI went up by 71 points whereas Indian Flat Product Price Index IFPPI also surge by 21 points. The overall Indian Steel Price Index INDSPI rise by 47 points Class 29-Mar 30-Mar Change % ILPPI 7623 7694 71 0.9% IFPPI 8309 8330 21 0.3% INDSPI 7950 7997 47 0.6% ILPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 29-Mar 30-Mar Change % PI - TMT 7548 7638 90 1.2% PI - WRC 8001 8065 64 0.8% PI - Angle 7184 7239 55 0.8% PI...

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Pencil ingot price move upward at major places on Mar 30

Pencil ingot Location Change Ahmedabad 200 Bhiwari 900 Durgapur 181 Ghaziabad 500 Hyderabad 0 Jaipur 600 Jamshedpur 0 Kanpur 262 Kolkata 0 Mandi 181 Mumbai 500 Muzzafarnagar 87 Nagpur 544 Raigarh 0 Raipur 363 Rourkela 0 Rudrapur 218 Change is on 30th March as compared to 29th March 2010 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...

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Rebar (TMT) price movement in India on Mar 30

TMT Fe 415 12mm Location Change Ahmedabad 500 Bangalore 500 Chennai 0 Delhi 110 Hyderabad 0 Indore 0 Kanpur 300 Kolkata 1144 Mandi 0 Mumbai 574 Raipur 1040 Rudrapur 100 Change is on 30th March as compared to 29th March 2010 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...

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Melting scrap price increases in Mandi and Mumbai

Melting scrap 80:20 HMS Location Change Chennai 0 Hyderabad 0 Kandla -200 Kanpur 262 Kolkata 0 Mandi 907 Mumbai 400 Rudrapur 174 Change is on 30th March as compared to 29th March 2010 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...

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IVRCL concludes financial arrangements for Indore to Jhabua projects

IVRCL Infrastructures & Projects Ltd announced that the Company has achieved financial arrangements for the recently awarded Road DRFOT Project viz. For upgrading the existing road from 2 lane to 4 lane on NH 59 from Indore to Jhabua of 155.15 kilometer length. The project was awarded to Sourse: More I...

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Adani Power appoints Mr RK Madan as director

Adani Power Ltd has informed BSE that Mr R K Madan has been appointed as an additional director in the category of Non Executive Non Independent Director wef March 20th 2010 by the Board of Directors of the Sourse: More I...

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MPPGCL to sell 500 MW power to MPPTCL

It is reported that Madhya Pradesh Power Generating Company Limited has signed a MoU with MP Power Trading Company Ltd to sell 500 MWpower from its upcoming projects to the latter from 2011-12. MPPGCL’s two new units of 250 MW each were coming up at Satpura Power station at Sarni in Sourse: More I...

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Vamshi Power commissions hydel power plant in Himachal Pradesh

Lanco Infratech Ltd has announced that its subsidiary Vamshi Industrial Power Ltd has commissioned a 5 MW hydel power plant at Dhrinidhar in Himachal Pradesh. The company in a statement informed the stock exchanges that commercial operations commenced today. The power generated by the plant Sourse: More I...

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GMDC to invest INR 484 in wind power

It is reported that Gujarat Minerals Development Corporation has earmarked INR 484 crore to generate 81 MW of wind energy by 2012. While in the FY11, GMDC is planning to invest INR 242 crore for generation of 40.5 MW at a wind farm in Jodia in Jamnagar district of the state, an equal amount Sourse: More I...

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India approves 23 FDI proposals worth over INR 2300 crore

The government approved 23 foreign direct investment proposals worth over INR 2325.21 crore, including that of broadband services provider Tikona Digital Network and auto components maker Bharat Forge. An official statement said that "The union government has approved 23 FDI proposals Sourse: More I...

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Indian Railway revenue earnings up by 9pct in 10 days

It is reported that the total approximate earnings of Indian Railways on originating basis during the period March 11th to March 20th 2010 were INR 2638.69 crore compared to INR 2427.24 crore during the same period last year registering an increase of 8.71%. The total goods earnings have Sourse: More I...

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Mr Nath invites Canadian pension funds in highways sector

Aggressively showcasing the business opportunity to participate in the World’s largest PPP road program to Canadian investors, Mr Kamal Nath, Union Minister for Road Transport and Highways invited them, particularly the Pension Funds and financial institutions to participate in the Sourse: More I...

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Toyota Kirloskar Motor to use Ennore Port for exports

Japanese carmaker Toyota Kirloskar Motor Private Ltd has said that it would use Ennore port as its base for exports. The company is planning to export Etios its upcoming compact car in India through Ennore port while components would be exported from Chennai port. Mr Shekar Viswanathan Sourse: More I...

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National Maritime Celebrations begin in India

On the occasion of inauguration of 47th National Maritime Week, Mr GK Vasan minister of shipping pinned the first Merchant Navy Flag on the wearing apparel of the Prime Minister of India. National maritime celebrations are weeklong celebrations, which culminate on 5 of April to commemorate Sourse: More I...

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Campaign against hydel projects fizzles out

A campaign by the All India Akhara Parishad an apex body of sadhus and seers to seek closure of hydropower projects on the Bhagirathi in Uttarkashi district of Uttarakhand has come cropper giving a major relief to the state government. Mr Nishank had earlier announced that he would hold Sourse: More I...

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Indian long product price index up by 51 points

The Indian Long Product Price Index ILPPI went up by 51 points whereas Indian Flat Product Price Index IFPPI also surge by 7 points. The overall Indian Steel Price Index INDSPI rise by 30 points Class 26-Mar 29-Mar Change % ILPPI 7571 7623 51 0.7% IFPPI 8302 8309 7 0.1% INDSPI 7919 7950 30 0.4% ILPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 26-Mar 29-Mar Change % PI - TMT 7457 7548 91 1.2% PI - WRC 7974 8001 27 0.3% PI - Angle 7176 7184 9 0.1% PI...

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Pencil ingot price movement in major places on Mar 29

Pencil ingot Location Change Ahmedabad 300 Bhiwari 0 Durgapur 0 Ghaziabad 500 Hyderabad 500 Jaipur -300 Jamshedpur 0 Kanpur 0 Kolkata -453 Mandi 363 Mumbai 500 Muzzafarnagar 959 Nagpur Raigarh 0 Raipur 363 Rourkela -91 Rudrapur 0 Change is on 29th March as compared to 26th March 2010 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...

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Wire rod prices scenario on Mar 29

WRC SWR14 5.5/6 Location Change Chennai 500 Delhi 0 Kanpur 0 Kolkata 0 Raipur 436 Rudrapur 0 Change is on 29th March as compared to 26th March 2010 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...

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Sponge iron price remains flat on Mar 29

Sponge iron Location Change Bellary 0 Kolkata 0 Raigarh 0 Raipur 0 Rourkela 0 Change is on 29th March as compared to 26th March 2010 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...

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Melting scrap price increases in Hyderabad

Melting scrap 80:20 HMS Location Change Chennai 500 Hyderabad 2500 Kandla -500 Kanpur 0 Kolkata -363 Mandi 725 Mumbai 200 Rudrapur 0 Change is on 29th March as compared to 26th March 2010 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...

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Plate cuttings prices down at Alang

Product Grade Size Change Plate cuttings Rolling 1" -100 Ship Scrap Melting Mixed -100 Change is on 29th March as compared to 26th March 2010 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...

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Al Ghurair I Steel Phase II expansion contracts to be awarded in Q4 2011

Contracts for the Phase II expansion of the UAE based Al Ghurair Iron & Steel metals plant at Musaffah, Abu Dhabi will not be awarded until the Q4 of 2011 marking 9 month delay from the original tender schedule. According to a senior manager at the company said that the engineering, Sourse: More I...

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Turkish steel exports decline by 41pct in 2009

Todays Zaman reported that crude steel exports in Turkey totaled USD 12 billion last year, 41.46% decrease compared to the previous year while output declined by 5.6% to 25.3 million tonnes during the same period. According to data from the Steel and Iron Producers Association, Turkey, the Sourse: More I...

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Villagers in Jharkhand willing to give land for ArcelorMittal project

If you thought the willing land losers’ tribe was extinct, talk to Ravi Kant Kuswaha and other marginal land owners at Petarwar one of the six administrative blocks of Bokaro. Kuswaha lost INR 21,000 in potato cultivation last year and there are many like him all owners of either Sourse: More I...

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IVRCL bags infra work worth INR 868 crore

IVRCL Infrastructures & Projects Limited Water Division bagged orders worth INR 867.57 crores for various infrastructure works. An IVRCL release said that all works (including canal systems and building) water extension, renovation and modernization of Eastern Kosi Canal system including Sourse: More I...

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Nagarjuna Construction bags INR 971 crore orders

Nagarjuna Construction Company has secured projects worth INR 971 crore from various vendors. Nagarjuna Construction in a filing to the Bombay Stock Exchange said that the company has bagged two orders worth INR 492 crore from the Defence Ministry for construction of dwelling units at Sourse: More I...

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Corporates to adopt international financial reporting standards in India

According to Mr Salman Khurshid Corporate Affairs Minister, the Indian government is firm on its decision to make companies adopt International Financial Reporting Standards from 2011. He said that “We are on schedule on convergence with IFRS. Big corporates can migrate to the new Sourse: More I...

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Performance of production units of Indian Railway in 11 months

It is reported that Chittranjan Locomotive Works produced 197 electric locomotives against the target of 202 electronic locomotives and Diesel Locomotive Works produced 240 diesel locomotives against the target of 231 diesel locomotives during April 2009-February 2010. Rail Coach Factory Sourse: More I...

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Bajaj Electricals wins INR 215 crore orders

Bajaj Electricals said it has bagged two orders worth INR 215 crore from the Power Grid Corporation of India and M P Poorv Kshetra Vidyut Vitaran Company for power and transmission related works. Bajaj Electricals in a filing to the Bombay Stock Exchange said that the engineering and Sourse: More I...

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Japan commits INR 10535 crore on infra projects in India

Japan today committed JPY 215 billion (INR 10,535 crore) for six infrastructure projects in India, including Phase II of the Mass Rapid Transport System for Delhi. An Agreement to this effect was signed between Finance Ministry officials and the Japanese Ambassador to India Mr Hideaki Sourse: More I...

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Baosteel completes preliminary design of Shenyang project

Baosteel Metal Steel Structure Industrial Research Institute completed in advance the preliminary design and construction drawing design of Shenyang Tiexi District Steel Structure Residential Quarter Project. So far, this steel structure residential quarter project has entered the stage of substantial startup. Last year Baosteel and the people government of Shenyang signed Cooperation agreement about construction of northeastern steel structure industrialized production base to jointly build the steel structure industrialized production base in...

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Environment minister presentation on environment plan

Under attack for delays in project clearances, Mr Jairam Ramesh Environment Minister tried to strike a balance between development and protecting forests and made a detailed presentation before the Cabinet in this regard. Mr Ramesh is understood to have briefed last week the Indian cabinet Sourse: More I...

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Dhamra Port to be functional from mid April

It is reported that The Dhamra Port Company Limited will be getting its first cargo ships, one limestone and one coking coal ship during mid April thus creating history in Orissa being the third port after Paradip and Gopalpur to be a working port in the Orisaa coast. Though the DPCL has Sourse: More I...

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Dumpers damage delay Haldia berth operations

ABG Group's bid to start operation at two Haldia dock berths, 2 and 8, suffered yet another setback. Twenty five out of a total 37 dumpers due to be moved into the berths for operation were damaged outside the dock areas. The engines were stuffed with sands and fuel tanks with sugar. Mr Sourse: More I...

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CR price movement in India on Mar 26

CR DSK 0.63 Location Change Ahmedabad 0 Bangalore 0 Chennai 500 Delhi 872 Kanpur 174 Kolkata 0 Mumbai 0 Pune 0 Rudrapur 87 Change is on 26th March as compared to 25th March 2010 Change is in INR per tonne To know more details on steel prices subscribe to services...

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Narrow HR plate price up in Chennai and Rudrapur

PLTS GR A 8x1250 Location Change Chennai 500 Kanpur 0 Mumbai 0 Rudrapur 262 Change is on 26th March as compared to 25th March 2010 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 Sourse: More I...

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Patra (Narrow HR strips) price remains flat in Delhi

Patra Location Change Delhi 0 Ludhiana 272 Mandi 0 Change is on 26th March as compared to 25th March 2010 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 Sourse: More I...

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Steel joist (Beam) prices scenario in major places

JSTI GR A 250X125 Location Change Ahmedabad 0 Bangalore 0 Chennai 500 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai -115 Raipur -312 Rudrapur 0 Change is on 26th March as compared to 25th March 2010 Change is in INR per tonne To know more details on steel prices Sourse: More I...

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Steel light channel prices update on Mar 26

CHNL GR A 75/100 Location Change Ahmedabad 229 Bangalore -500 Chennai 500 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai -115 Raipur -312 Rudrapur 0 Change is on 26th March as compared to 25th March 2010 Change is in INR per tonne To know more details on steel prices Sourse: More I...

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Steel angle prices scenario on Mar 26

ANGL GR A 65X6 Location Change Ahmedabad 229 Bangalore -500 Chennai 500 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai -115 Raipur -208 Rudrapur 0 Change is on 26th March as compared to 25th March 2010 Change is in INR per tonne To know more details on steel prices Sourse: More I...

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Wire rod price up in Chennai

WRC SWR14 5.5/6 Location Change Chennai 500 Delhi 0 Kanpur 0 Kolkata 0 Raipur -87 Rudrapur 0 Change is on 26th March as compared to 25th March 2010 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or Sourse: More I...

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Sponge iron price up in Bellary

Sponge iron Location Change Bellary 100 Kolkata 0 Raigarh 0 Raipur 0 Rourkela 0 Change is on 26th March as compared to 25th March 2010 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 Sourse: More I...

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Ford India to focus tier III cities

Backed by a spurge in spending power, tier III cities like Rajkot and Varanasi are set to fuel growth for Ford India. According to the car maker, as against tier I and tier II cities, it is the tier III cities where the company sees more growth in terms of demand and sales. Mr Nigel Wark Sourse: More I...

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Kolkata Port Trust gets dredging subsidy

It is reported that the Ministry of Shipping has sanctioned INR 273.73 crore for the Kolkata Port Trust to meet part of the expenditure incurred on maintenance and dredging of the Haldia channel in the Hooghly River during 2009-10. However the amount that will be actually available to the Sourse: More I...

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Railways gives green signal for private firms in building tracks

It is reported that Indian Railways plan to allow private firms to build railway tracks in industrial zones. Although a detailed blueprint is yet to be created, sources familiar with the developments said that companies would initially be roped in to augment the basic rail infrastructure in Sourse: More I...

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NTPC to develop 500 MW renewable energy projects in Orissa

BS reported that National Thermal Power Corporation has evinced interest to set up solar and wind projects in Orissa with aggregate generation capacity of 500 MW. The company has sent a draft MoU for approval of the Orissa government in this regard. Before approaching Orissa, the utility Sourse: More I...

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Indian steel price index remain stable on Mar 25

The Indian Long Product Price Index ILPPI went up by 16 points whereas Indian Flat Product Price Index IFPPI also surge by 18 points. The overall Indian Steel Price Index INDSPI rise by 17 points Class 24-Mar 25-Mar Change % ILPPI 7546 7562 16 0.2% IFPPI 8262 8280 18 0.2% INDSPI 7887 7904 17 0.2% ILPPI - Long Product Price Index IFPPI - Flat Product Price Index INDSPI - Indian Steel Price Index Long Products Category 24-Mar 25-Mar Change % PI - TMT 7421 7460 39 0.5% PI - WRC 7949 7949 0 0.0% PI - Angle 7160 7177 17 0.2% PI...

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Pencil ingot prices fall at major places on Mar 25

Pencil ingot Location Change Ahmedabad -200 Bhiwari 0 Durgapur -181 Ghaziabad -200 Hyderabad 0 Jaipur -100 Jamshedpur 0 Kanpur 174 Kolkata -635 Mandi 91 Mumbai -200 Muzzafarnagar -349 Nagpur -181 Raigarh 0 Raipur -453 Rourkela 0 Rudrapur 0 Change is on 25th March as compared to 24th March 2010 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...

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TATA Steel Paribar starts herbal gardening in Kalinganagar

TATA Steel for its rehabilitated families known as TATA Steel Paribar at Kalinganagar in Orissa has initiated yet another innovative step for their all round development. While the company is setting up a 6 million tonne steel plant in Kalinganagar, it has also given a guarantee for improving Sourse: More I...

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BHEL makes first loco gear delivery

It is reported that BHEL's Electronics Division in Bangalore said that it had delivered the first set of railway equipment, the IGBT-based traction control equipment, for use in locomotives that haul high tonnage goods. It had designed and developed the equipment in association with Sourse: More I...

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Steel light channel prices crashes in Ahmedabad Bangalore and Mumbai

CHNL GR A 75/100 Location Change Ahmedabad -574 Bangalore -500 Chennai 0 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai -229 Raipur 0 Rudrapur 0 Change is on 25th March as compared to 24th March 2010 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...

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Sponge iron price crashes in Bellary

Sponge iron Location Change Bellary -300 Kolkata 300 Raigarh 0 Raipur 200 Rourkela 0 Change is on 25th March as compared to 24th March 2010 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...

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Plate cuttings prices surges further at Alang

Product Grade Size Change Plate cuttings Rolling 1" 200 Ship Scrap Melting Mixed 400 Change is on 25th March as compared to 24th March 2010 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...

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Rebar (TMT QST) price up in Kolkata

TMT Fe 415 12mm Location Change Ahmedabad 0 Bangalore 250 Chennai 0 Delhi 0 Hyderabad 0 Indore 0 Kanpur 0 Kolkata 728 Mandi 0 Mumbai -229 Raipur 0 Rudrapur 0 Change is on 25th March as compared to 24th March 2010 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...

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HRC prices remains flat on Mar 25

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 453 Ludhiana 363 Mumbai 0 Change is on 25th March as compared to 24th March 2010 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...

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Chinese steel wire rod price update on Mar 25

WRC 6.5mm Common Location In CNY In USD Changsha 90 13 Chengdu 50 7 Chongqing 70 10 Guiyang 50 7 Hangzhou 0 0 Harbin 150 22 Kunming 0 0 Nanchang 50 7 Nanjing 0 0 Shanghai 50 7 Shenyang 100 15 Shijiazhuang 0 0 Taiyuan 0 0 Tianjin 0 0 Wuhan 70 10 Zhengzhou 70 10 Average 46.875 7 Change is on 25th March as compared to 24th March 2010 Change is per tonne USD:CNY = 6.83 To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a...

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Chinese plate price movement on Mar 25

Plates 20mm Common Location In CNY In USD Beijing 21 3 Changsha 0 0 Chengdu 32 5 Chongqing 42 6 Fuzhou 0 0 Guangzhou 20 3 Hangzhou 20 3 Harbin 32 5 Hefei 0 0 Jinan 180 26 Kunming 0 0 Lanzhou 22 3 Nanchang 0 0 Nanjing 29 4 Shanghai 50 7 Shenyang 61 9 Shijiazhuang 0 0 Taiyuan 51 7 Tianjin 19 3 Wuhan 68 10 Xian 31 5 Zhengzhou 0 0 Average 31 5 Change is on 25th March as compared to 24th March 2010 Change is per tonne USD:CNY = 6.83 To know exact prevailing steel prices in China on daily basis, subscribe...

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Chinese domestic HR steel prices scenario

HRC 4.75mm Common Location In CNY In USD Beijing 20 3 Changsha 100 15 Chengdu 20 3 Chongqing 80 12 Fuzhou 0 0 Guangzhou 0 0 Hangzhou 30 4 Harbin 0 0 Hefei 0 0 Jinan 0 0 Kunming 0 0 Lanzhou 70 10 Nanchang 30 4 Nanjing 20 3 Shanghai 60 9 Shenyang 0 0 Shijiazhuang 50 7 Taiyuan 30 4 Tianjin 50 7 Urumchi 70 10 Wuhan 80 12 Xian 50 7 Zhengzhou 50 7 Average 35 5 Change is on 25th March as compared to 24th March 2010 Change is per tonne USD:CNY = 6.83 To know exact prevailing steel prices in China on...

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February crude steel output figures for Middle East

Feb '10 Jan '10 Feb '09 YoY Change Iran 1000 947 968 3.3 Qatar 150 160 82 83.5 Saudi Arabia 440 471 310 42.2 Middle East 1591 1578 1360 17 In '000 tonnes Source - worldst...

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World oil demand to go up in 2011

According to a poll of 10 top oil tracking analysts and organizations, oil demand is predicted to rise by 1.5 million barrels per day in 2011 to 86 million barrels per day as world oil demand will grow faster than new supplies outside OPEC's control this year. But stocks are likely to rise as Sourse: More I...

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ArcelorMittal mini mill in Sulaimaniyah likely to use induction furnaces

Alibaba reported that the steel mini mill to be built in Sulaimaniyah in northern Iraq by ArcelorMittal's JV with Turkish partner Dayen is likely to use induction furnaces. As per ArcelorMittal's official announcement, in its initial phase the mill will produce up to 250,000 tonnes per Sourse: More I...

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Ezz Steel 2009 profit down 93pct

Reuters reported that Egyptian group Ezz Steel 2009 net profit fell 92.85% to EGP 88 million but still beating analysts' forecasts. The company said that Egypt's largest steel producer reported net profit of EGP 1.2 billion in the same period last year. The figure implied a fourth quarter Sourse: More I...

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Toxic ships pending illegal export from Kuwait

The Basel Action Network, a toxic trade watchdog and member organization of the NGO Platform on Ship breaking, warned the Government of Kuwait on March 9th 2009 that 3 Kuwaiti flagged ships called the Al Awdah, Al Tahreer and Al Shuhadaa would soon be exported from Kuwait destined for the ship Sourse: More I...

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10 merchants detained on charges of steel price fixing in Saudi Arabia

Saudi Gazette reported that the Ministry of Trade and Industry detained for questioning 10 Jeddah steel merchants on charges of price fixing, a day before producers and distributors were due to meet at the ministry to discuss official moves to address the current price crisis. Ministry Sourse: More I...

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Pakistani steel industry rejects hike in ITP

Daily Times reported that steel importers and traders in Pakistan have unanimously rejected the Import Trade Price recently revised upward by the Customs up to 60% and demanded to revise for the determination of values for flat rolled products of iron and steel products. Mr Shamoon Bakir Sourse: More I...

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PSM suffers heavy losses in first half of this fiscal year

APP reported that Pakistan’s minister for Industries and Production Mir Hazar Khan Bijrani informed the National Assembly on Wednesday that the Pakistan Steel Mils has suffered losses amounting to PKR 5.622 billion in the first six months of the ongoing financial year. In a written Sourse: More I...

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Tenova to install a new HPH bell type annealing plant at Tianjin No 1

The Chinese Tianjin No 1 Iron & Steel Group in Tianjin has awarded a contract for the installation of an HPH bell type annealing plant for annealing cold-rolled steel coils to LOI Thermprocess a company of LOI Italimpianti Tenova. The contract covers the supply of 17 bases, 8 heating hoods Sourse: More I...

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Iran ranks as 9th largest cement producer in 2009

According to IMIDRO’s PR, US Geological Survey estimated that Iran’s cement production was 45 million tonnes in 2009. Publishing a report, US Geological Survey evaluated the last status of production in the largest cement manufacturers of the world. Based on the report, the Sourse: More I...

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RAK Petroleum announces success at Hamrat Duru 4 well in Block 30

RAK Petroleum PCL announced that it has tested gas in the Hamrat Duru 4 well in Block 30, Sultanate of Oman. RAK Petroleum holds 100% interest in Block 30 subject to 25% Government back in right upon declaration of commerciality. The Hamrat Duru 4 appraisal well was drilled to test the Sourse: More I...

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GIF of US to construct 2 offshore support vessels for Iraqi navy

Gulf Island Fabrication Inc announced that through its subsidiary Gulf Island Marine Fabricators, LLC, it received a letter of intent to participate as a sub contractor in the construction of two 60 meter Offshore Support Vessels for the Iraqi Navy. The value of our portion of the contract Sourse: More I...

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80pct of Iranian mineral resources not explored - Mr Sami Nejad

Mr Mohammad Masoud Sami Nejad deputy minister of mining and mineral industries of Iran unveiled that about 80% of mineral resources have not been explored in Iran. Mr Sami Nejad said that currently slightly more than 20% of mineral resources are explored in the country and development of Sourse: More I...

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Shell and CNPC sign 30 year Sichuan tight gas deal

Reuters reported that Royal Dutch Shell and China National Petroleum Corporation plan to jointly develop natural gas deposits in China’s Sichuan province under 30 year production sharing agreement. As per report, the 2 companies have submitted the PSA to China’s central Sourse: More I...

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SABIC allows its dealers to sell steel of other companies

DJ reported that Saudi Basic Industries Corporation has allowed its steel distributors to import, sell and market steel produced by other companies. SABIC said to distributors that it has cancelled a clause in the agreement signed with them which forbids them from trading other companiesSourse: More I...

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Iran becomes best parts of the world for mining investment

Mr Mohsen Hatam planning, development and technology deputy of industries and mines ministry announced that in some parts of Iran’s industry and mining section there are unique capabilities and advantages to attract foreign investment. Mr Hatam said that “Obtaining more than 70 Sourse: More I...

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Update on ArcelorMittals Jubail seamless tube mill

MEED reported that despite delays, the Jubail seamless tube mill will enable its promoters to break into the thriving market for steel products in the region. Mr Lynn Robbroeckx spokesman of ArcelorMittal said that the mill will supply products for the oil and gas industry. The focus will Sourse: More I...

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Turkish HR flat steel exports down 79pct in February

According to the statistics provided by the Istanbul Mineral and Metals Exporters' Association, in February this year Turkey's total hot rolled flat steel exports amounted to 21,752 tonnes decreasing by 79.07% YoY and down 27.24% MoM. Meanwhile, the revenue generated by these exports totaled Sourse: More I...

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PKR 25 million penalty imposed on PSM on anti competition issues

The Daily Times reported that the Competition Commission of Pakistan has imposed PKR 25 million fine on Pakistan Steel Mills for abusing its dominant position in the low-carbon steel market by refusing to deal with customers like Frontier Foundry (Pvt) Ltd. CCP in its findings pointed out Sourse: More I...

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Tuwairqi kicks off commissioning of integrated control system on Pakistan Day

Tuwairqi Steel Mills Limited, a subsidiary of Al Tuwairqi Holding, has kicked off the cold commissioning of its Distributed Control System yesterday. The cold commissioning of the DCS is being performed by TSML team under the supervision of foreign consultants arrived from Midrex USA, Sourse: More I...

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Sulb plans steel billet plant at Rabigh in Saudi Arabia

Reuters reported that newly formed family owned firm Sulb National Co will start before the end of next year a 300,000 tonnes steel billet plant in Saudi Arabia. Mr Faisal Al Haddawi said that Sulb is seeking financing from both banks and state run Saudi Industrial Development Fund for the Sourse: More I...

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Poll results (Week 11) - Indian steel prices to come down in April

Question - Indian steel prices to come down in April Results Answer % Yes 39 No 50 Can't say 11 Total votes polled - 80 These are the results of on line poll on www.steelguru.com during Week 11 of 2010 (Mar 15th 2010 to Mar 20th 20...

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Pencil ingot price show mixed trend on Mar 23

Pencil ingot Location Change Ahmedabad 900 Bhiwari 100 Durgapur -181 Ghaziabad -100 Hyderabad 500 Jaipur 0 Jamshedpur 0 Kanpur 523 Kolkata 544 Mandi 91 Mumbai 500 Muzzafarnagar 174 Nagpur 272 Raigarh 0 Raipur 453 Rourkela 0 Rudrapur 436 Change is on 23rd March as compared to 22nd March 2010 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...

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Melting scrap price increases in major places on Mar 23

Melting scrap 80:20 HMS Location Change Chennai 0 Hyderabad 0 Kandla 1000 Kanpur 262 Kolkata 0 Mandi 453 Mumbai 200 Rudrapur 262 Change is on 23rd March as compared to 22nd March 2010 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...

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Rebar (TMT) price movement in India on Mar 23

TMT Fe 415 12mm Location Change Ahmedabad 500 Bangalore 0 Chennai 0 Delhi 661 Hyderabad 1000 Indore 0 Kanpur 500 Kolkata 312 Mandi -312 Mumbai 574 Raipur 520 Rudrapur 0 Change is on 23rd March as compared to 22nd March 2010 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...

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Sponge iron price up in Rourkela

Sponge iron Location Change Bellary -100 Kolkata -300 Raigarh 0 Raipur 300 Rourkela 500 Change is on 23rd March as compared to 22nd March 2010 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...

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HRC prices up in Ahmedabad

HRC Tube 2.5x1250 Location Change Ahmedabad 1813 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 0 Ludhiana 272 Mumbai 0 Change is on 23rd March as compared to 22nd March 2010 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...

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GAIL eying stake in Interoil Corp

PTI reported state owned gas utility GAIL India is talking to Canadian oil company Interoil Corp for a possible stake in its proposed liquefied natural gas project in Papua New Guinea. Mr B C Tripathi CMD of GAIL on the sidelines of the 6th Asia Gas Partnership Summit in the national Sourse: More I...

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Great Eastern plans listing of its offshore subsidiary

India’s largest private sector shipping company Great Eastern Shipping said that it had taken board approval to bring an initial public offer for its subsidiary, Great Ship. The company is planning the IPO to raise finances for the expansion of its subsidiary that is currently operating Sourse: More I...

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THDC inks MoU for Sankosh Multipurpose Project in Bhutan

It is reported that THDC India Ltd has signed a MoU with Deptt of Energy of Bhutan for updation of Detailed Project Report of 4060 MW Sankosh Multipurpose Project in Bhutan. As per report the MoU was signed by Mr RST Sai CMD of THDC India Ltd and Mr Yeshi Wangdi director general of Bhutan Sourse: More I...

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MSTC sets a target of INR 9100 crore turover in 2010-11

MSTC Limited a Public Sector Undertaking under the Ministry of Steel today signed a Memorandum of Understanding with the Government aiming to achieve a turnover of INR 9100 crore during 2010-11. The MoU was signed by Mr Atul Chaturvedi and Managing Director of MSTC. Under the MoU the gross Sourse: More I...

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Crompton wins order from PGCIL

Avantha Group company Crompton Greaves Ltd, in partnership with ZTR of Ukraine, has bagged a INR 600 crore contract for the supply and commissioning of 765kV shunt reactors for Power Grid Corporation of India Ltd's various projects across the country. The contract includesdesign, Sourse: More I...

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BPCL encounters additional Gas in Wildcat Well in Mozambique

Bharat Petro Resources Limited a wholly owned subsidiary of Bharat Petroleum Corporation Limited, advises that M/s Anadarko Petroleum Corporation of USA the Operator of exploration block in Rovuma Basin, Area 1, offshore Mozambique, has informed that a total depth of approximately 5161 meters Sourse: More I...

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Plate cuttings prices surge at Alang

Product Grade Size Change Plate cuttings Rolling 1" 600 Ship Scrap Melting Mixed 400 Change is on 23rd March as compared to 22nd March 2010 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...

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Steel angle prices up in Indore and Mumbai

ANGL GR A 65X6 Location Change Ahmedabad -344 Bangalore 0 Chennai 0 Delhi 0 Indore 300 Kanpur 0 Kolkata 0 Mandi 312 Mumbai 459 Raipur 0 Rudrapur -100 Change is on 22nd March as compared to 19th March 2010 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...

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NTPC inks MoU with GPCL for 500 MW renewable energy projects

The country's largest power generation company NTPC inked a MoU with Gujarat Power Corporation Ltd for setting up 500 MW renewable energy power projects in the state. Mr Bharatsinh Solanki Union Minister of State for Power said that "The MoU inked between the state-owned GPCL and National Sourse: More I...

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IOC-OIL may hike GBP 400 million bid for Gulfsands

State owned Indian Oil and Oil India may hike their combined takeover offer for the Middle East-focused oil firm Gulfsands Petroleum after the UK based firm rejected their GBP 400 million bid. A source closely linked to the transaction said that “Yes, I can confirm that IOC-OIL Sourse: More I...

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NLC to build a power plant in Ghatampur

It is reported that Nayveli Lignite Corporation Limited is all set to rub off some shine onto Uttar Pradesh. Once the UP government clears the finer details for the project, the public sector enterprise will commission a 2000 MW coal based power plant in Ghatampur area of Kanpur Dehat and Sourse: More I...

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Automakers ramp up capacity as demand picks up

Amid growing demand for cars, automakers in India are taking the crucial call to invest in new production lines with their existing plants running at full capacity. Some like Hero Honda, Honda Motorcycle and Scooter, Honda Siel and Toyota are exploring sites, while others like Maruti Suzuki, Sourse: More I...

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GC (HDG) price increases in Ludhiana and Kolkata

GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 523 Ludhiana 635 Mumbai 0 Rudrapur 0 Change is on 22nd March as compared to 19th March 2010 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...

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TATA Motors to set up truck plant in Myanmar

TATA Motors on March 22nd 2010 inked a turnkey contract with Myanmar Automobile & Diesel Industries for setting up a heavy truck plant at Magwe approx 480 kilometers from Yangon, which is funded by a Line of Credit from the Indian Government. The facilities planned at the plant include a Sourse: More I...

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India natural gas demand to double by 2015

Global consultancy firm McKinsey in a study said that India's natural gas demand is expected to nearly double to 320 million standard cubic meters per day by 2015. In a report released at the VI Asia Gas Partnership Summit, Mckinsey said the current demand of 166 mmscmd made up of nearly Sourse: More I...

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Macroeconomic indicators - India on course for 7.2 pct growth - FM

Mr Pranab Mukherjee union finance minister said that government expects the economy to expand by 7.2 this fiscal and increase by 8.5% in the next. Mr Mukherjee said that "We are sticking to the advance estimate of 7.2 per cent for 2009-10.” He said that for 2010-11, the country hopes Sourse: More I...

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Large hydropower projects on the lines of UMPP

ET reported that the government has put large hydro power projects on the fast track with an empowered group of ministers asking states to come forward with proposals. Large hydel projects have been envisaged on the lines of the coal based ultra mega power projects. An official in the power Sourse: More I...

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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 22nd March as compared to 19th March 2010 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...

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Steel light channel prices update on Mar 22

CHNL GR A 75/100 Location Change Ahmedabad -344 Bangalore 0 Chennai 0 Delhi 0 Indore 300 Kanpur -200 Kolkata 0 Mandi 312 Mumbai 459 Raipur 0 Rudrapur 0 Change is on 22nd March as compared to 19th March 2010 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...

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Steel joist (Beam) prices scenario in major places

JSTI GR A 250X125 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 312 Mumbai 459 Raipur 0 Rudrapur -200 Change is on 22nd March as compared to 19th March 2010 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...

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Patra (Narrow HR strips) prices up in Ludhiana and Mandi

Patra Location Change Delhi 0 Ludhiana 453 Mandi 272 Change is on 22nd March as compared to 19th March 2010 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.s...

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HRC prices up in Kolkata

HRC Tube 2.5x1250 Location Change Ahmedabad 453 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 1360 Ludhiana 363 Mumbai 0 Change is on 22nd March as compared to 19th March 2010 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...

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Narrow HR plate prices remain flat on Mar 22

PLTS GR A 8x1250 Location Change Chennai 0 Kanpur 0 Mumbai 0 Rudrapur 0 Change is on 22nd March as compared to 19th March 2010 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...

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CR price movement in India on Mar 22

CR DSK 0.63 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Kanpur -87 Kolkata 453 Mumbai 0 Pune 0 Rudrapur 0 Change is on 22nd March as compared to 19th March 2010 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...

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China major steel product price index (Mar 15-19 2010

Product Size Previous week This week Change Common wire rod 6.5 111.36 117.89 6.53% Rebar 12-25 110.37 116.34 5.97% Medium plate 6 121.44 128.17 6.73% HR sheet 1 103.35 105.46 2.11% HR coil 2.75 108.21 113.6 5.39% CR sheet 0.5 119.34 122.45 3.11% Galvanized steel sheet 0.5 107.64 109.56 1.92% Seamless steel tube 159*6 104.89 106.18 1.29% 17% VAT Included China Iron & Steel Association launched Major Steel Product Price Index in April 2001. The index is compiled from prevailing transaction prices for eight steel products...

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PGCIL to invest INR 57 billion in projects

Power Grid Corporation of India announced that its board of directors has approved various investment proposals totaling to INR 57.77 billion. Power Grid Corporation said that the first investment approval is for Northern Regional Transmission Strengthening Scheme at an estimated cost of Sourse: More I...

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Jayaswal Neco eying equity route for funding power business

The board of Jayaswal Neco a manufacturer of pig iron, iron castings, billets and rolled products has approved preferential issue of 1.42 crore shares to Reliance Mutual Fund. The company has raised INR 48 crore through the preferential issue. Mr PK Bhardwaj CFO of Jayaswal Neco in an Sourse: More I...

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Toyota eying 25pct sales growth in India

It is reported that Japanese car maker Toyota is aiming at more than 25% growth in India in the current calendar year as it targets to sell a minimum of 70,000 units. Its joint venture with Kirloskar Group, Toyota Kirloskar Motor has sold 55497 units in 2009. Mr Sandeep Singh deputy MD Sourse: More I...

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Welspun Gujarat makes open offer for MSK Projects

Steel pipe maker Welspun Gujarat Stahl Rohren Ltd and its unit have made an open offer to acquire up to 20% of construction firm MSK Projects (India) Ltd. Welspun Gujarat and its unit, Welspun Infratech Ltd, plan to buy up to 8 million shares of MSK Projects at INR 130.50 rupees Sourse: More I...

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China province wise CR sheet output in 2 months

It is reported that China province wise CR sheet output during January to February total 2.87 million tonnes which Jiangsu topping the table. Province Feb'10 Jan-Feb'10 Jan-Feb'09 Change total 1.35 2.87 2.03 41.4% Jiangsu 0.28 0.55 0.36 53% Guangdong 0.25 0.53 0.39 36.8% Zhejiang 0.16 0.38 0.27 43.6% Tianjin 0.14 0.27 0.17 60.8% Shandong 0.10 0.21 0.18 18.2% Hebei 0.10 0.21 0.09 142% Liaoning 0.10 0.20 0.24 -17.6% Hubei 0.06 0.14 0.08 64.6% Shanghai 0.07 0.13 0.09 38.7% Fujian 0.02 0.07 0.04 102.9% Henan 0.01...

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China province wise medium plate output in 2 months

It is reported that China province wise medium plate output during January to February total 6.19 million tonnes which Jiangsu topping the table. Province Feb'10 Jan-Feb'10 Jan-Feb'09 Change total 2.98 6.19 5.04 22.7% Jiangsu 0.55 1.25 1.07 17.0% Hebei 0.64 1.24 1.11 12.1% Henan 0.27 0.57 0.39 47.3% Liaoning 0.19 0.47 0.20 130.0% Shandong 0.17 0.34 0.31 10.0% Hubei 0.11 0.27 0.23 18.2% Jiangxi 0.14 0.26 0.28 -5.5% Shanghai 0.11 0.23 0.20 13.9% Chongqing 0.10 0.19 0.15 22.4% Anhui 0.11 0.18 0.16 13.8% Tianjin...

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China province wise heavy plate output in 2 months

It is reported that China province wise heavy plate output during January to February total 3.14 million tonnes which Hebei topping the table. Province Feb'10 Jan-Feb'10 Jan-Feb'09 Change total 1.55 3.14 2.85 10.1% Hebei 0.20 0.41 0.35 17.6% Jiangsu 0.21 0.40 0.29 39.9% Henan 0.13 0.30 0.34 -13.7% Liaoning 0.13 0.27 0.16 72.4% Shandong 0.10 0.22 0.25 -15.0% Shanghai 0.09 0.18 0.14 28.0% Jiangxi 0.08 0.16 0.13 22.8% Hunan 0.07 0.14 0.16 -11.7% Shanxi 0.07 0.14 0.13 10.9% Guangxi 0.05 0.12 0.08 51.2% Tianjin 0.07...

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CAPEX plans - Prakash Industries update

Domestic steel maker Prakash Industries has chalked out INR 3300 crore expansion and diversification program for the next five years to meet the growing demand. Mr Vipul Agarwal Director Finance of Prakash Industries said that "In line with the company's robust strategy, we are optimizing Sourse: More I...

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TATA TRF acquires UK based Hewitt Robins International

TATA Group engineering company TRF Limited announced that its board has approved the acquisition of Hewitt Robins International of United Kingdom at a total consideration of GBP 3 million. Hewitt Robins International is engaged in design, manufacturing of screens, mobile crushing and Sourse: More I...

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Welspun Gujarat appoints Mr Malkki as CEO

Welspun Gujarat Stahl Rohren Ltd announced the appointment of Mr Lauri Antero Malkki as its CEO. Mr Malkki, who was earlier with Europipe GmbH in Germany as the managing director, will be based at Welspun's head office in Mumbai. Mr Malkki said that "I am looking forward to my tenure Sourse: More I...

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TATA Metallic sees dramatic shift on quarterly pricing for coke and iron ore

BS reported that some Indian steel makers said that changes in pricing dynamics for iron ore and coking coal will put their business cycle out of sync. Mr Harsh K Jha MD of TATA Metaliks said that “The business cycle for a steel company, from the time it buys raw material to the time Sourse: More I...

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Production of insulators by BHEL

Mr Arun Yadav minister of State for Heavy Industries and Public Enterprises informed the Rajya Sabha that Bharat Heavy Electricals Ltd has received an order valued at approximately INR 200 crore in January 2010 from Power Grid Corporation of India Ltd for the supply of over 453000 420 kN Sourse: More I...

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Oswal Group Global investing USD 320 million in 9 ships

Oswal Group Global said that its subsidiary Maruti Shipping is investing USD 320 million in nine ships being built at Yangzhou Guoyu Shipyards in Jiangsu province of China. Oswal Group Global in statement said that the first of the fleet, a 57,000-tonne dry bulk carrier, was taken today and Sourse: More I...

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Shree Cement commissions 1.8MTPA clinker grinding unit

Shree Cement announced that it has commissioned its 1.80 million tonne per annum clinker grinding unit at Village Akbarpur Oud in Uttarakhand. As per report the company markets its products under two brands, Shree Ultra Ordinary Portland Cement and Shree Ultra Red Oxide Cement. Sourse: More I...

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Japanese companies eying Indian power sector

BS reported that Japanese power companies including Tokyo Electric Power Company and J Power seek to make their presence felt in India. An industry insider said that "They might not look at the bigger projects like ultra mega power projects right away, but will look at projects with a size Sourse: More I...

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Macroeconomic indicators - China PMI for manufacturing sector down in February

Xinhua quoted the China Federation of Logistics and Purchasing said the Purchasing Managers' Index for China manufacturing sector stood at 52% in February down by 3.8 percentage points from January 2010. It was the 12th straight month the index was above 50%. The PMI includes a package of indices to measure manufacturing sector performance. A reading above 50% indicates economic expansion while that below 50% indicates contraction. According to the CELP the figure stood at 56.6% in December 2009 the highest since May 2008. Mr Zhang Liqun a...

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Beijing to Shenyang high speed rail to break ground by year end

People's Daily Online reported that the Liaoning section of the Harbin-Dalian high speed passenger railway project, the largest transportation infrastructure project in northeastern China will first begin operation in 2011. Mr Cheng Zhenggao governor of Liaoning province March 17 at the stone-laying ceremony of the Shenyang-Dandong passenger railway line said the construction of the highly-anticipated Beijing-Shenyang high-speed passenger railway line will start July 2010 at the earliest. The construction of the Harbin-Dalian high speed passenger...

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China province wise rebar output in 2 month

It is reported that China province wise rebar production during January to February total 19.50 million tonnes which Jiangsu topping the table. Province Feb'10 Jan-Feb'10 Jan-Feb'09 Change Total 9.34 19.50 17.22 13.2% Jiangsu 1.31 3.06 2.73 12.1% Hebei 1.16 2.33 2.14 9.0% Shandong 1.00 1.87 1.65 13.7% Sichuan 0.55 1.07 0.93 15.8% Anhui 0.49 0.97 0.92 5.5% Guangdong 0.42 0.92 0.71 30.3% Henan 0.42 0.89 0.81 10.1% Jiangxi 0.34 0.82 0.91 -9.8% Sha'anxi 0.40 0.78 0.63 23.4% Shanxi 0.37 0.72 0.51 41.5% Liaoning 0.38...

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Monday Market Monitor - CIS - WEEK 11 - Hitting the roof

All the steel products at Black Sea exhibited a strong surge in prices last week due to limited availability and higher production costs. FOB Black Sea prices for billets, last week, increased to USD 510 per tonne to USD 530 per tonne FOB Black Sea with offers going up to USD 550 per tonne levels. We had reported on March 18th 2010 vide article “Ukrainian billet and pig iron prices to Italy hitting the roof” that price of billets from Ukrainian suppliers has taken more than USD 20 per tonne, jumping from a sale price of USD 550 per tonne CFR...

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Production pruning - Severstal preparing to restart Warren BF

It is reported that shut down since October 2008, Severstal is preparing to produce steel again in Warren. Union officials said that nearly 600 of their members are now on the job at the Warren plant. Those workers are in the process of firing the blast furnace which means they can begin making iron in the next few days. Severstal makes integrated flat rolled steel. The plant was purchased from WCI in 2008 by the Russian steelmaker but was shut down last year when the U.S. economy collapsed and the steel industry, as a whole entered a major slowdown....

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Ukraine takes the second place in supplies of pig iron to US

After some decrease of pig iron imports to US in December last year to the level of less than 290,000 tonnes in the beginning of the current year on the background of steel production increase in the country a growth of pig iron imports has been noticed. In accordance with US Department of Commerce, Bureau of the Census data, in January 2010 US imported merely 326,000 tonnes of pig iron, which is 14.6% over the figure of the previous month. However, in compared to January 2009, it is a sufficient reduction by 25.2%. However, January 2009 level...

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Afcons wins Kolkata Metro project

Afcons Infrastructure Ltd, the infrastructure arm of Shapoorji Pallonji Group, has bagged a INR 938 crore project for design and construction of a part of the East-West Metro project in the city. Mr Ramakrishna V Ramanan director for transportation of Afcons said that “The project Sourse: More I...

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Indian ports back to recovery with growth in cargo handling

After a year of downturn, major ports in India are back on the recovery track. Traffic handled between April 2009 and February 2010 has increased by 5% from a meager 2% growth in 2008-09. The figure however is still short of the pre slowdown performance an 11% growth in traffic handled by 12 Sourse: More I...

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Gain from us if steel is a big ticket item for your business

If steel happens to be a big ticket item in your business, you would agree that keeping track of steel price trends could immensely improve your bottom line, especially in current turbulent times when Indian domestic prices have seen unprecedented volatility. Indian domestic steel prices Sourse: More I...

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Steel industry in Orissa complains of red tape

Orissa government’s high sounding claim of industrializing the state with huge amount of FDIs and investment from Indian industries goes hollow as the investor industrialists and groups are expressing their frustration over a repulsive and arrogant bureaucracy coupled with a slow Sourse: More I...

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POSCO starts work on HDG plant in Maharashtra

POSCO is a big step closer to a new facility in India. The company on March 15 held a groundbreaking ceremony for a continuous galvanized line plant at the Vile Bhagad industrial complex in Maharashtra State. The hot dip facility, with an annual production capacity of 450,000 tonne will Sourse: More I...

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Updated directory of Indian steel makers

The fast developing Indian steel industries are continuing beyond what most believed was possible. As one of the world's fastest growing economies, India has become the most happening place among world steel market over last few years and thus is in the radar of not only Indian but most of Sourse: More I...

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