Poll results (Week 42) - Steel scrap prices to cross USD 450 in November

Question - Steel scrap prices to cross USD 450 in November Results Answer % Yes 52 No 38 Can't say 10 Total votes polled - 52 These are the results of on line poll on www.steelguru.com during Week 42 of 2010 (Oct 25th 2010 to Oct 30th 20...

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NSW government under pressure over Hunter Valley mines

A Hunter Valley farmer believes its now up to the state government to prove it can strike a balance between coal mining and other land users in the region. Mr Peter Dixon-Hughes, from Denman is a member of the NSW Farmers executive council that has met with the NSW Planning Minister, Tony Kelly to demand a moratorium on new mines and coal seam gas development. Mr Kelly told the farmers that weren’t possible. The NSW Minerals Council estimates 50 potential projects are in the pipeline for the state worth about USD 13 billion and creating 5,000...

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Petrochem starts work at Fujairah oil terminal

Reuter reported that UAE based Gulf Petrochem said it has started building the first phase of a new 1.2 million cubic meters oil storage terminal at Fujairah port. The firm said that the Phase I which is to be commissioned in the Q2 of 2012 would have a storage capacity of 412,000 cubic More I...

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Suez Cement 9 month net profit dawn by 9pct

Reuters reported that Egypt's Suez Cement Group 9 month net profit fell 8.5% to EGP 906.7 million with sales down despite rising grey cement consumption. Suez, Egypt's largest listed cement company and a subsidiary of Italcementi said that consolidated net sales in the period fell 2.1% to More I...

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ArcelorMittal Annaba positive on long products market in North Africa

AISI cited Mr Gonzalo Urquijo member of ArcelorMittal’s group management board as saying that “We want to stress very much our presence in the long market of Algeria because we believe there is an important growth that can occur there in the following years.” Mr Urquijo More I...

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Cairn India consolidated Q2 net up by 3 times

Cairn India has posted consolidated net profit of INR 15,850.80 million for the quarter ended September 30th 2010 as compared to INR 4,695.10 million for the quarter ended September 30th 2009, growth of 3.37 times. The company’s total Income has increased from INR 3,354 million for More I...

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Railway minister blames administration for illegal mining

Railways Minister Ms Mamata Banerjee blamed the state administration for rampant illegal mining in West Bengal's Burdwan district saying that its failure to set up industries has aggravated the problem. Ms Banerjee at Andal in Burdwan district said that “Industries have not prospered More I...

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Defense ministry to transfer land for Diamond Harbor box terminal

According to Mr K Mohandas secretary ministry of shipping, a major hurdle to Kolkata Port Trust's much awaited Diamond Harbor container terminal project is over. Mr Mohandas said that "The Defense Ministry has agreed to transfer about 43 acres at Diamond Harbor to Kolkata Port Trust More I...

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Henan Province cuts power supplies to metals smelters

Reuters reported that China Henan province has reduced power supplies to metal smelters this month, forcing many in the top aluminium and major lead and zinc producing region to either shut or pare output. A smelter official in Lingbao said that all lead smelters in Lingbao city have closed More I...

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ArcelorMittal SA cautionary announcement on BEE deal

Shareholders of ArcelorMittal South Africa are referred to the announcement released on SENS on August 10th 2010 and published in the South African press on August 11th 2010, informing shareholders that ArcelorMittal South Africa has entered into a subscription and shareholders' agreement, to More I...

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HR steel price dips in Mumbai

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 0 Ludhiana 0 Mumbai -227 Change is on 22nd October as compared to 21st October 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 domestic CR steel price on down path

CR 1mm Location In CNY In USD Shanghai 0 0 Hangzhou 0 0 Nanjing 0 0 Jinan 0 0 Hefei 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou -31 -5 Changsha 0 0 Wuhan 0 0 Zhengzhou -20 -3 Beijing 0 0 Tianjin -47 -7 Shijiazhuang -50 -8 Taiyuan 0 0 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Chengdu 0 0 Kunming 0 0 Xian 0 0 Lanzhou 0 0 Urumchi 0 0 Qingdao 0 0 Average -6 -1 Change is on 22nd October as compared to 21st October 2010 Change is per tonne USD:CNY = 6.66 To know exact prevailing steel prices in China on...

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Steel melting scrap price update on Oct 22

Melting scrap 80:20 HMS Location Change Chennai 453 Hyderabad 0 Kandla -400 Kanpur 0 Kolkata 0 Mandi -181 Mumbai 0 Rudrapur 0 Change is on 22nd October as compared to 21st October 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 domestic HR steel prices on down path

HRC 4.75mm Common Location In CNY In USD Beijing -20 -3 Changsha 0 0 Chengdu 0 0 Chongqing -19 -3 Fuzhou 0 0 Guangzhou -12 -2 Hangzhou 20 3 Harbin 0 0 Hefei 0 0 Jinan 0 0 Kunming 0 0 Lanzhou 0 0 Nanchang -26 -4 Nanjing 32 5 Shanghai 20 3 Shenyang 0 0 Shijiazhuang 0 0 Taiyuan 15 2 Tianjin -18 -3 Urumchi 0 0 Wuhan 0 0 Xian 0 0 Zhengzhou 0 0 Average 0 0 Change is on 22nd October as compared to 21st October 2010 Change is per tonne USD:CNY = 6.66 To know exact prevailing steel prices in China on...

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Japanese scrap price on upward trend

It is reported that Taiwan's steel mills has purchased 5,000 tonnes of H2 scrap from Japan at USD 384 per tonne CNF, USD 20 per tonne higher than the domestic offer. Meanwhile, it is known that the purchase price of Japan’s H2 scrap in last week was at USD 375 per tonne More I...

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EP KazMunaiGas boosts oil production by 15pct in 9months

Interfax reported that JSC Exploration and Production KazMunaiGas produced 9,946 tonnes of crude oil in January to September 2010 or a 15%YoY increase compared to the same period last year. The company said in the reporting period, the company produced 6,555 tonnes of oil at Uzenmunaigas More I...

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Mr Yanukovych looks for compromise with ArcelorMittal

Kyiv Post quoted Mr Viktor Yanukovych Ukrainian President said that he and Mr LN Mittal CEO of ArcelorMittal would look for a compromise solution to solve the company investment commitments in Ukraine. Mr Yanukovych's office quoted him as saying at a meeting with Mr Mittal in Kyiv that More I...

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China power generation in 9 months up by 16pct YoY

According to National Bureau of Statistics, China power generation volume rose 16.1%YoY to 3.09 trillion kilowatt hours in the first three quarters of 2010. Power generation in September advanced 8.1%YoY to 348.7 billion kilowatt hours a decrease of 10.67% from 390.33 billion kilowatt hours More I...

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Macroeconomic indicators - Chinese GDP growth slows to below 10pct

China Knowledge quoted statistics released by the National Bureau of Statistics said China gross domestic product grew 9.6%YoY in the third quarter of this year. The GDP growth in the third quarter was lower than the 11.9% rise in the first quarter and 10.3% rise in the second More I...

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DEPA appoints Mr Umar as new finance director

Depa Limited announced the appointment of Mr Umar Saleem as MD of Finance, effective as of November 24th 2010. Mr Umar will replace Mr Eyad Abdelrahim who has resigned to pursue other interests after being with the Company for 8 years. Mr Mohannad Sweid CEO Depa Limited said that "I am More I...

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Middle East long product market remains subdued

Situation in Middle East long products market does not change recently. Import volume remains low and most consumers use local rebar buying it in small amounts. Nevertheless Turkish companies in early and mid October increased export quotations for rebar to USD 580 per tonne FOB and more and More I...

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JRD Training Institute to train youth in mining trade

The Directorate General of Mines Safety Dhanbad has extended its approval to JRD TATA Training Institute of TATA Steel at Noamundi for Workmen’s Inspectors’ Orientation Training for mines men working in the open cast metal mines under DGMS, Chaibasa region comprising twin districts More I...

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Chinese steel price index continues to decrease

The Chinese Long Product Price Index CLPPI went down by 11 points on October 21st 2010 whereas the Chinese Flat Products Index CFPPI went down by 1 point. The overall price index CHISPI went down by 5 points. More I...

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HR steel price update on Oct 21

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 0 Ludhiana 181 Mumbai 0 Change is on 21st October as compared to 20th October 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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Iraq auctions off 3 major gas fields

Reuters reported that Iraq auctioned off 3 major natural gas fields to international companies recently, part of its strategy to shake off a legacy of war and isolation by opening up the lucrative sector. Iraq wants to jump into the league of top energy producers by tapping its vast oil and More I...

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Kingdom Holdings to announce details of tallest tower in the world

Saudi based Kingdom Holding plans to build the world's tallest tower as part of a project worth SAR 75 billion in the city of Jeddah. Prince Alwaleed Bin Talal chairman of Kingdom said that the company will officially announce the project at a press conference in 2 weeks time. The More I...

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Washington County mine could be source of rare earth elements

It is reported that plans are in the works to turn the Pea Ridge iron ore mine in Washington County into a source of rare earth elements, a valuable commodity needed for wind turbines and hybrid cars. Almost all of these elements currently come from China. According to a press release from More I...

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CIL target 460 million tones of coal this year

To expand existing mines, no new mines likely this FY. State run Coal India aims to increase production this year to a target of about 460.5 million tonnes by expanding existing mines and will not participate in the government's coal block auction. Mr Partha Bhattacharyya chairman of CIL More I...

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Kumba Iron report for September ended quarter

Kumba Iron Ore Limited released its production and sales report for the quarter ended 30 September 2010. Throughout this report, production and sales volumes referred to are 100% attributable to Kumba. Third quarter overview: 1. 5% decrease in total production year on year to 10.7 million More I...

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Papua New Guinea miner eying moly sales to China

Reuters cited Mr Les Emery MD of Marengo as saying that Marengo Mining plans to sell 1,500 tonnes of molybdenum to China Nonferrous Metals after striking a funding deal to develop a mine in Papua New Guinea. China is the world's largest producer of steel making metal molybdenum accounting More I...

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GP steel HDG price update on Oct 21

GP 100Gms 0.40 Location Change Mumbai 0 Chennai 0 Kolkata 0 Delhi 0 Ludhiana 181 Kanpur 0 Rudrapur 0 Bangalore 0 Change is on 21st October as compared to 20th October 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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Copper fees may rise along with supply - Arubis

Emii quoted Arubis, the second largest smelter of copper in Europe as saying that fees for processing crushed ore paid by miners to smelters are set to increase in the coming year as supply swells. Mr Thomas Hoelandt VP of Arubis said that spot charges have already more than double over the More I...

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Albanian Minerals sees prices rising by up to 15pct in 2011

Ferrochrome production is falling in South Africa due to reduced operating capacity, higher energy costs and labor problems. Ferrochrome producers in worldwide settled the third quarter European benchmark price at USD 1.30 per pound. Steel ingredient ferrochrome will test new high prices More I...

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Serbia interested in allowing private rail freight operators

The rail sector in Serbia is currently in the midst of wide ranging reform program. A key objective is to liberalize the rail freight market allowing private rail freight operators to operate on the Serbian rail network. In order for the market to function effectively, a regulatory body is to More I...

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Steel wire rod prices update on Oct 21

WRC SWR14 5.5/6 Location Change Chennai 0 Delhi 0 Kanpur -87 Kolkata 0 Raipur 0 Rudrapur -174 Change is on 21st October as compared to 20th October 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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Schnitzer Steel announces Q4 and FY 2010 results

Schnitzer Steel Industries Inc has reported diluted earnings per share from continuing operations of USD 0.58 for its fiscal 2010 fourth quarter ended August 31st 2010. This compares with diluted earnings per share from continuing operations of USD 0.35 for the same quarter of fiscal More I...

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EUROFER economic and steel market outlook for tube segment

Steel tube production in the EU posted a robust gain in the 2nd quarter of 2010, rising almost 11% YoY. This marked the first increase in activity following 7 consecutive quarters of decline during which EU output contracted quite sharply. The improvement was driven by the rebound in activity More I...

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Severstal pays USD 4 million for Liberian iron ore stake

Interfax-Ukraine reported that Severstal has paid the outstanding USD 4.2 million towards its stake in the Putu iron ore project in Liberia with African Aura Mining. Severstal paid the first installment of USD 4.2 million in December 2008 and had until December 10 this year to pay the More I...

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India major ports iron ore exports in H1 down by 14pct

Karnataka's ban on iron ore exports coupled with sluggish Chinese demand has resulted in a 14.20% drop or nearly six million tonnes in iron ore handled at major ports in the first half of the current fiscal ending September 31st 2010, as against the same period last year. Iron ore handled More I...

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GP steel HDG prices down in Chennai and Bangalore

GP 100Gms 0.40 Location Change Mumbai 0 Chennai -907 Kolkata 0 Delhi 0 Ludhiana -181 Kanpur 0 Rudrapur 0 Bangalore -907 Change is on 19th October as compared to 18th October 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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Nippon Steel sees higher yen rate damaging Japan steel industry

JMB reported that Japanese dealers' H beam inventory decreased by 9.7% to 165,200 tonnes at member companies of Tokiwakai, which is group of distributors dealing Nippon Steel's products, at end of September from August 2010. With the decreases for 3 months in a row, the stock decreased to More I...

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Gazprom increases gas supply to Turkey during repair of Iranian pipeline

Interfax reported that Following the temporary suspension of gas supply form Iran to Turkey for technical reasons, Gazprom has been asked to increase its supply of Russian natural gas through the Blue Stream pipeline while repairs on the Iranian pipeline are underway. Gazprom told Interfax More I...

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CSRC approves IPO applications of Dalian Port and Jinzi Ham

It is reported that the China Securities Regulatory Commission has approved initial public offering applications of Dalian Port and Jinzi Ham. Dalian Port which also runs a logistics business will issue a maximum of 1.2 billion A shares to list on Shanghai Stock Exchange while placing a More I...

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Steel melting scrap price update on Oct 19

Melting scrap 80:20 HMS Location Change Chennai 572 Hyderabad 0 Kandla 100 Kanpur 0 Kolkata 0 Mandi 181 Mumbai 0 Rudrapur 0 Change is on 19th October as compared to 18th October 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 Oct 19

CHNL GR A 75/100 Location Change Ahmedabad 0 Bangalore -500 Chennai -500 Delhi -200 Indore -200 Kanpur 0 Kolkata 0 Mandi 0 Mumbai -229 Raipur 0 Rudrapur 0 Change is on 19th October as compared to 18th October 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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Xinjiang Ba Yi Iron earned CNY 480 million in 9 months

Shanghai Securities News reported that Xinjiang Ba Yi Iron & Steel predicts net profit in the first three quarters of 2010 will near CNY 480 million. The company posted net losses of approximately CNY 51.83 million for the first three quarters of 2009 with net profits in the first half of More I...

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Jingang to halt production for one month

It is reported that Shanxi Jingang Group will start to shut down production for one month as a result of electricity restriction as of October 19th. As per report, Jingang actually restricts about 55% electricity and production of 100,000 tonnes will be expectedly affected. This More I...

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Chinese steel mills suffering losses due to high iron ore price

Although iron ore price in Q4 seems to be on the downward trend, the high price in the early three quarters has swallowed up much of Chinese steel enterprises` profit. According to the first industry report released last week, Laigang steel and Jigang steel have both been losing money due More I...

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Essar Oil announces Q2 result

Essar Oil Ltd has announced the Unaudited financial results for the quarter ended September 30th 2010. As per report the company has posted a net profit of INR 1300 million for the quarter ended September 30th 2010 where as the same was at net loss of INR 940 million for the quarter ended More I...

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Larsen and Turbo outlook for 2010

Larsen and Turbo given the country’s confident GDP growth projection for the current year, the opportunity landscape for the Company is expected to be much wider and deeper in most of the sectors of the economy. However, the capital goods industry will have to be prepared for much More I...

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Macroeconomic indicator - Indian growth story gets better

India is doing well. The International Monetary Fund has come out to state that the economy will grow by 9.7% in 2010 and 8.4% in 2011. That India has well and truly recovered from the recession is now well established and it is currently undergoing a transition from the public stimulus to More I...

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Aboitiz Power Corp to increase its electricity output by 250 MW

The Manila Standard Today reported that a unit of Aboitiz Power Corporation plans to increase its electricity output by 250 MWs by repairing 3 of its hydroelectric plants. Mr Emmanuel Rubio CEO of SN Aboitiz Power said that the group would rehabilitate the 360 MW Magat in Ramon and the 100 More I...

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Broner implements melt shop control centre at Usiminas

Broner Metals Solutions, worldwide specialist provider of integrated MES, supply chain and scheduling solutions, designed for metals producers, has announced that it has completed the implementation of the Broner Melt Shop Control Centre at Usiminas, Brazil, that will lead to improved More I...

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POSCO signs agreement with Israeli government

It is reported that POSCO is the 19th foreign corporation and first company from East Asia to join government sponsored R&D program, joins other well known program participants such as Intel, Oracle, Merck and GE. As per report, POSCO agreed to participate in a joint Israel Korean More I...

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Sulking European and MEA market suppresses Indian HDG offers

HDG offers from India have taken a dive recently in the aftermath of plummeting levels in Europe and Middle East. It is learnt that the offers levels have receded by USD 20 per tonne to USD 30 per tonne during the last week. Current going rate of HDG exports are as follows: HDG More I...

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Chinese domestic steel rebar prices update on Oct 18

Rebar 20mm HRB 400 Location In CNY In USD Beijing 24 4 Changsha 15 2 Chengdu 0 0 Chongqing 48 7 Fuzhou 36 5 Guangzhou 0 0 Guiyang -50 -7 Hangzhou 7 1 Harbin 0 0 Hefei 18 3 Jinan 0 0 Kunming -37 -5 Lanzhou -17 -3 Nanchang 20 3 Nanjing 19 3 Shanghai 0 0 Shenyang 0 0 Shijiazhuang 20 3 Taiyuan -50 -7 Tianjin 57 8 Wuhan 0 0 Xian 0 0 Zhengzhou 8 1 Average 5 1 Change is on 18th October as compared to 15th October 2010 Change is per tonne USD:CNY = 6.65 To know exact prevailing steel prices in China...

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Chinese domestic CR steel price update on Oct 18

CR 1mm Location In CNY In USD Shanghai 0 0 Hangzhou 0 0 Nanjing 0 0 Jinan 0 0 Hefei 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou -50 -7 Changsha 0 0 Wuhan 0 0 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Chengdu 0 0 Kunming 0 0 Xian 0 0 Lanzhou 0 0 Urumchi 0 0 Qingdao 0 0 Average -2 0 Change is on 18th October as compared to 15th October 2010 Change is per tonne USD:CNY = 6.65 To know exact prevailing steel prices in China on daily basis,...

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Evraz starts taking orders for RUB 15 billion in bonds

Interfax reported that EvrazHolding Finance an SPV for steel producer Evraz started taking orders for RUB 10 billion in series two and RUB 5 billion in series 4 bonds at noon Moscow time October 18. Guidance on the first coupon on both sets of ten-year bonds is 10% to 10.5%. Both issues More I...

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Higher grade steel aids Severstal and Evraz

It is reported that reported that Severstal and Evraz Group, Russia top two steelmakers are outperforming their largest competitors in Asia and Europe as a drive by Prime Minister Mr Vladimir Putin to expand manufacturing boosts domestic demand for car parts, rail track and More I...

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Rays of recovery - SAIC Auto sales in 9 months up by 37pct YoY

It is reported that Shanghai Automotive Industry Corporation recorded a 36.9%YoY growth in auto sales to 2.67 million units during the first three quarters of 2010. As per report, of that total, sales of passenger and commercial vehicles grew 47.9%YoY and 22.5%YoY respectively to 1.63 More I...

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SABIC announces preliminary consolidated financial results 2010

Saudi Basic Industries Corporation announces preliminary consolidated financial results for the period ended September 30th 2010. 1. Net income for the third quarter 2010 was SAR 5.33 billion compared to net income of SAR 3.65 billion in the same period last year an increase of 46% and More I...

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Chinese help to build train lines in Turkey

Hurriyet Daily cited Mr Süleyman Karaman DG of Turkish State Railways as saying that Turkish and Chinese companies will jointly construct high speed train lines in Turkey. Under an agreement signed between China and Turkey last week, China will grant loans for the construction of a More I...

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MERC likely to stay power tariff hike by Reliance Infra

Stepping in to rescue lakhs of harried consumers in Mumbai suburbs, Maharashtra Government is considering to instruct the state Electricity Regulatory Commission to stay power tariff hike by Reliance Infrastructure. The issue, affecting over 2.8 million consumers, came up for discussion More I...

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GMS update for ship breaking in India -Week 41

The ongoing correction in price by some USD 25 to USD 30 has left many of the high priced sales of recent weeks looking somewhat extravagant. The veritable binge on tonnage by end users and cash buyers alike was put into stark perspective with an altogether quieter week as most of the local More I...

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TATA Steel felicitates CWG medal winners

IANS reported that India's medal winning archers at the Commonwealth Games were accorded a warm welcome on their arrival here and felicitated by TATA Steel on Monday. Double gold medalist Ms Deepika Kumari was given a cash award of INR 1,000,000 while Mr Rahul Banerjee, who won a gold and More I...

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Chinese domestic SBQ steel plate price update on Oct 15

Plates 20mm Ship Building Quality Location In CNY In USD Shanghai 0 0 Nanjing 0 0 Jinan -20 -3 Fuzhou 0 0 Guangzhou 0 0 Wuhan 0 0 Tianjin -20 -3 Ningbo 0 0 Average -6 -1 Change is on 15th October as compared to 14th October 2010 Change is per tonne USD:CNY = 6.64 To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service. For registration click or copy the link and...

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Zambia launches USD 380 million copper mine project

Mr Rupiah Banda president of Zambia inaugurated a new USD 380 million copper mine project, a JV between mining companies from Brazil and South Africa. Brazilian company Vale and South Africa's Africa Rainbow Minerals are to construct the new Konkola North mine in Chililabombwe in the More I...

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Polish copper giant to mine in Canada

Polish copper company KGHM is set to commence gold and copper mining in Canada having come to JV agreement with Canadian mining and exploration firm Abacus. According to the agreement, the resulting JV company will conduct exploration of the 8,000 ha, 503 million tonne copper and gold rich More I...

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Rays of recovery - Vietnam Q3 business confidence index rises

Vietnam News Service reported that Vietnam's business confidence index rebounded in the third quarter of 2010 after it increased 3 points over the second quarter and 37 points against the same period in 2008. A representative from Viet Nam World Vest Base Financial Intelligence Services More I...

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Ukraine to carry out trial pumping of 80000 tonnes of oil to Belarus

Interfax-Ukraine citing Mr Yuriy Boiko Ukrainian Fuel and Energy Minister as saying that Ukraine intends to carry out the trial pumping of 80,000 tonnes of Venezuelan oil to the Mozyr oil refinery using the Odesa-Brody pipeline and the Druzhba pipeline in the direct regime in late November More I...

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Russian seaports boost cargo turnover 6 pct in Q1 to Q3 - Association

Interfax quoted the Russian Association of Commercial Seaports said cargo turnover at Russian seaports increased 6.7%YoY in January to September to 393.32 million tonnes. Liquid cargo increased 5.7% to 235 million tonnes and dry cargo was up 8.1% to 158.26 million tonnes. The port shipped More I...

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PetroChina and Sinopec raise wholesale diesel prices

It is reported that PetroChina and China Petroleum and Chemical Corporation raised their transfer prices of diesel by CNY 50 per tonne and CNY 150 per tonne respectively on October 1st. The domestic average wholesale price of diesel reached CNY 7,120 per tonne at the end of September up by More I...

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Pig iron prices remain flat on Oct 15

Pig iron Foundry Grade Location Change Agra 0 Jallandhar 0 Kolkata 0 Raipur 0 Change is on 15th October as compared to 14th October 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 steel plate price movement on Oct 15

PLTS GR A 8x1250 Location Change Chennai 0 Kanpur -174 Mumbai 0 Rudrapur 0 Change is on 15th October as compared to 14th October 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 domestic steel rebar prices on down path

Rebar 20mm HRB 400 Location In CNY In USD Beijing -10 -1 Changsha -60 -9 Chengdu 0 0 Chongqing -30 -4 Fuzhou -10 -1 Guangzhou -110 -16 Guiyang -40 -6 Hangzhou 0 0 Harbin -10 -1 Hefei -10 -1 Jinan -40 -6 Kunming -12 -2 Lanzhou -29 -4 Nanchang -26 -4 Nanjing -40 -6 Shanghai -20 -3 Shenyang 0 0 Shijiazhuang -20 -3 Taiyuan -102 -15 Tianjin -54 -8 Wuhan -80 -12 Xian -22 -3 Zhengzhou 0 0 Average -32 -5 Change is on 15th October as compared to 14th October 2010 Change is per tonne USD:CNY = 6.64 To...

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Baotou Steel issues positive output results for September

It is reported that Inner Mongolia based Chinese steel producer Baotou Steel Corporation has announced its production results for September of the current year. Accordingly, in September Baotou Steel produced 485,100 tonnes of crude steel, 26,100 tonnes higher than the targeted volume More I...

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Wuhan Steel release November prices

Wuhan Iron & Steel Co released its price policy for November. The prices are basically in line with the previous month. 1. HRC price maintains the same. Q235 5.5mm*1500 is listed at CNY 4260 per tonne SPHC 2.75mm*1250 at CNY 4400 per tonne 2. Plate price stays in line Q235 14mm to More I...

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GCC steel producers need to coordinate better to achieve targets

The GCC imports more steel than it produces, but there is more to building a steel industry than increasing production. The GCC is one of the world’s most buoyant markets for steel. It produces about 10 million tonnes per year but consumes almost 25 million over the same period. The More I...

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India USD 2 trillion plan focuses on green energy

India will spend USD 2.3 trillion(INR 10,200,499 crore) to boost its energy sector by 2030 by improving energy efficiency and using clean technology to help Asia’s third largest economy balance growth and environmental aims. While India will need to keep burning cheaper fossil fuel to More I...

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TATA Motors September global sales up by 19pct

India's TATA Motors said that its September global vehicle sales rose 19% to 86,996 units from a year earlier. TATA Motors in a statement said that Jaguar and Land Rover sales in the month rose 16% to 19,528 units. The company, India's biggest truck maker, also makes utility vehicles More I...

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Indian steel price index further down by 4 points

The Indian Long Product Price Index ILPPI went down by 7 points on October 14th 2010 whereas Indian Flat Product Price Index IFPPI remained flat. The overall Indian Steel Price Index INDSPI went down by 4 points More I...

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Valin Steel expects to post loss for first nine months 2010

It is reported that China Valin Iron & Steel Co Ltd expected loss of first nine months of the year was over CNY 1.4 billion, net loss per share CNY 0.51 to CNY 0.55 with loss rate increasing by 522.22%YoY to 566.67%YoY. Net loss of the third quarter was 1 to 1.1 billion with net loss per share More I...

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Narrow HR steel plate price update on Oct 14

PLTS GR A 8x1250 Location Change Chennai 0 Kanpur 0 Mumbai 0 Rudrapur 0 Change is on 14th October as compared to 13th October 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 domestic HR steel prices update on Oct 14

HRC 4.75mm Common Location In CNY In USD Beijing 0 0 Changsha 0 0 Chengdu -13 -2 Chongqing -37 -5 Fuzhou 0 0 Guangzhou 0 0 Hangzhou 0 0 Harbin 0 0 Hefei 0 0 Jinan 20 3 Kunming 0 0 Lanzhou 0 0 Nanchang 0 0 Nanjing 0 0 Shanghai 0 0 Shenyang 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Tianjin 10 1 Urumchi 0 0 Wuhan 0 0 Xian 0 0 Zhengzhou -14 -2 Average -1 0 Change is on 14th October as compared to 13th October 2010 Change is per tonne USD:CNY = 6.65 To know exact prevailing steel prices in China on daily...

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Kuwait crude oil raises USD 79 per barrels in trading

KUNA reported that the price of Kuwaiti crude oil rose by USD 0.92 to USD 78.58 per barrel in trading Monday compared with Friday's price of USD 77.66. The Kuwait Petroleum Corporation said that the rise in crude oil prices is due to the slight drop in the US dollar versus other major More I...

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GCC rerolling output cut by 30pct due to higher input costs

According to a Qatar Steel marketing manager, higher CIS and Turkish billet CFR Persian Gulf prices have several leading rerollers in the Gulf Cooperation Council region cutting capacities usages to 70%. Traditionally steel producers in the GCC region have been buying billet from the CIS More I...

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ONGC striving to get Maharatna status in CSR

Oil exploration major ONGC which has been given the status of a Maharatna by the government will be striving to get the same status in Corporate Social Responsibility as well. Mr AA Khan executive director of ONGC Rajahmundry Asset said that ONGC would be keen to support innovative and More I...

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Indian Railways assures NTPC of additional coal supply

The Indian Railways has assured NTPC of supplying it with additional coal for improving power generation at its stations in Farakka in West Bengal and Kahalgaon in Bihar. The additional supply will help improve the generation level at both the stations to about 500 MW. Both the stations More I...

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Indian to boost coking coal prices in next 7 to 8 years

India’s demand for coking coal will boost global prices for the next seven to eight years driving acquisitions from the US to Australia. Mr Arun Kumar Jagatramka chairman of Gujarat NRE Coke Ltd and its Australia listed unit Gujarat NRE Coking Coal Ltd in an interview said that More I...

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ArcelorMittal may splits Jharkhand plant into two

As a part of its revised plan to focus on smaller plants, ArcelorMittal has split its proposed 12 million tonne per annum steel plant in Jharkhand into two. As per report, it has decided to set up a 6 million tonne per annum plant at Petarwar in Bokaro district and it will look for a More I...

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TNK BP consider to pay 9 months dividends

It is reported that the TNK BP holders will consider the 9 month dividends payment at the special meeting November 18th. They will be paid at RUB 8.04 per pcs which will demand RUB 124.2 billion in total. The payment will be provided in proportion of the stakes should positive decision be More I...

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Chinese domestic CR steel price update on Oct 13

CR 1mm Location In CNY In USD Shanghai -20 -3 Hangzhou 0 0 Nanjing 0 0 Jinan 0 0 Hefei 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou 0 0 Changsha 0 0 Wuhan -50 -7 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Chengdu 0 0 Kunming 0 0 Xian 0 0 Lanzhou 0 0 Urumchi 0 0 Qingdao 0 0 Average -3 0 Change is on 13th October as compared to 12th October 2010 Change is per tonne USD:CNY = 6.66 To know exact prevailing steel prices in China on daily basis,...

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Vyksa railway wheels production in 9 months up by 55pct YoY

Vyksa Steel Works increased for the first 9 months of 2010 the volume of production of railway wheels at 54.7%YoY to 469,800 pieces. Wheel set VMZ in September 2010 produced 60,600 railroad wheels which is 75.5% higher than September 2009. Mr Vladimir Kochetkov Vice President OMK and CEO of More I...

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Xinxing Ductile Pipe products successfully march into China oil market

It is reported that Xinxing Ductile Iron Pipe has lately paid a visit to China Daqing Oilfield with a bid to review their friendly cooperative relationship and exchange with each other in the sector of oil industrial pipe development. As per report, both two sides have further confirmed More I...

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Baoshan Steel profits beat expectation

Xinhua reported that Baoshan Iron & Steel Co, China biggest publicly traded steelmaker profit for the first nine months may have risen by between 170% YoY and 190%YoY from a year ago more than earlier forecast. The Shanghai based company said in a statement to the Shanghai stock exchange More I...

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Steel plate cuttings price further crashes at Alang

Product Grade Size Change Plate cuttings Rolling 1" -200 Ship Scrap Melting Mixed -300 Change is on 13th October as compared to 12th October 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 price index start to go down

The Chinese Long Product Price Index CLPPI went down by 19 points on October 13th 2010 whereas the Chinese Flat Products Index CFPPI went down by 8 points. The overall price index CHISPI went down by 13 points. More I...

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Emirates Steel highlights expertise in integrated steel at Italy conference

Prior to a visit by more than eighty steel experts from around the world to its industrial complex in the Industrial City of Abu Dhabi this Friday, Emirates Steel shared its expertise with an international audience of more than 500 delegates from 54 countries at a specialized Iron and Steel More I...

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Qatar Steel supplies HBI to JFE Steel in September

Qatar Steel Company announced that in September this year it supplied about 60,000 tonnes of hot briquetted iron to Japanese steelmaker JFE Steel Corporation. The company had started direct reduced iron and HBI sales in October 2007. Prior to the commencement of shipments, HBI samples from More I...

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Gateway Distriparks arm bags Kochi Port tender

Gateway Distriparks Ltd's subsidiary, Gateway Distriparks (Kerala) Ltd has won a tender floated by Cochin Port Trust for a 2.58 hectare plot in Vallarpadam on a 30 year lease. Six bidders were in the race for this prime site opposite the International Container Transshipment More I...

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Indian auto sector may hit USD 12 billion exports in 2013-14

Indian automobile industry may achieve its USD 12 billion export target two years ahead of projections in 2013-14. Auto export increased 49% to 972,000 vehicles in the first five months of the current fiscal beginning April 2010. Industry body FICCI said that at present, the industry More I...

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Chiwan Wharf Cargo throughput in September up by 10pct YoY

It is reported that Shenzhen Chiwan Wharf Holdings’ September cargo throughput volume rose 10.1%YoY to 5.16 million tonnes and its September container throughput volume rose 13.5%YoY to 522,000 TEUs. At the end of September, accumulated cargo throughput volume had risen 26.3%YoY to More I...

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Chinese domestic steel beam price update on Oct 12

Beam #25 Location In CNY In USD Shanghai 0 0 Hangzhou 0 0 Nanjing 0 0 Jinan 0 0 Hefei 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou 0 0 Changsha 0 0 Wuhan 0 0 Zhengzhou 0 0 Beijing 0 0 Tianjin 60 9 Shijiazhuang 0 0 Taiyuan -30 -4 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Chengdu 0 0 Kunming 0 0 Xian 0 0 Lanzhou 0 0 Urumchi 0 0 Average 1 0 Change is on 12th October as compared to 11th October 2010 Change is per tonne USD:CNY = 6.67 To know exact prevailing steel prices in China on daily basis, subscribe...

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Dongfeng forges JV with Taiwan carmaker

China Daily reported that Dongfeng Motor Corp, China third biggest automotive group recently signed a contract with Taiwan Yulon Motors Corp to make passenger vehicles on the mainland. The two companies formed a 50-50 joint venture based in the eastern city of Hangzhou with an initial More I...

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New electricity price policy has limited impact on commodity prices

It is reported that the National Development and Reform Committee released the "Guidance of Launching Different Tariffs on Residential Electricity Consumption" on October 9th. Many electricity professionals believe it will help to correct China long time low electricity pricing system and More I...

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World oil output in focus as OPEC prepares to meet

AFP reported that OPEC meets in Vienna this week to assess member output levels against a backdrop of steady prices and a huge jump in Iraq’s estimated reserves. The Organization of Petroleum Exporting Countries has had an official production level of 24.84 million barrels per day More I...

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Oil storage and export facility not feasible anymore - BAPCO

Bahrain Petroleum Company has scrapped plans for USD 150 million oil storage and export facilities project on Sitra Island. Planned since March 2007, the project has now been deemed economically unfeasible by Bahrain Petroleum Company and its partners, Saudi Arabia based Arab Petroleum More I...

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Tokyo Steel announces H1 parent only earning forecast

Tokyo Steel Manufacturing Co Limited has announced parent only earnings estimates. Item H1 Latest Forecast H1 Previous Forecast Sales 79 80 Operating -1.5 1.7 Recurring -1.55 1.8 Net -2.5 1 In JPY billions unless specif...

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Steel light channel price update on Oct 12

CHNL GR A 75/100 Location Change Ahmedabad -229 Bangalore -500 Chennai 0 Delhi -300 Indore -300 Kanpur -100 Kolkata 0 Mandi 0 Mumbai 0 Raipur -104 Rudrapur 0 Change is on 12th October as compared to 11th October 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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Wide steel plate price movement on Oct 12

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 -87 Rudrapur 0 Change is on 12th October as compared to 11th October 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...

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WISCO to supply 25000 tonnes of steel rails to Pakistan

Beating competition from Japanese, Russian and Italian steel rail producers, Chinese steelmaker Wuhan Iron and Steel Corporation has won a contract to export 25,000 tonnes of steel rails to Pakistan. In May, Pakistan invited public bids for the supply of 25,000 tonnes of UIC 54 steel rails More I...

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Gallantt Ispat lists on NSE

Iron and steel manufacturer Gallantt Ispat listed at INR 52 on the National Stock Exchange, reflecting a gain of 4% over the issue price. Within first 30 minutes, over one crore shares of the Uttar Pradesh based company were traded at the bourse. The company had raised INR 40.5 crore More I...

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Welspun Corp appoints Mr Mandawewala as new MD

Diversified group Welspun Corp said that it has appointed Mr RR Mandawewala as managing director of the company. Welspun Corp in a filing to the Bombay Stock Exchange said that its board has considered appointment of Mr Mandawewala as MD with immediate effect. He was earlier one of the More I...

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NMP may build terminal on its own

After having failed to get a container terminal constructed in the port through the BOT route, the authorities of the New Mangalore Port Trust are mulling another option: To build the terminal on its own and then lease it out to some private firm. The total cost is estimated at INR 280 More I...

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Eastern China makes major breakthrough in deep iron ore exploitation

The Geological Survey of China announced on October 9th China is carrying out deep geological survey in the eastern part a region where iron ore exploitation has been implemented earlier. The country has also made significant breakthroughs in iron ore exploration in northern area and the More I...

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BIFR approves merger of India Foils with Ess Dee Aluminium

India Foils Limited has announced that the board for Industrial and Financial Reconstruction vide its Order dated September 30th 2010 has approved the merger of India Foils Limited with Ess Dee Aluminium Limited in terms of the Modified Draft Rehabilitation Scheme sanctioned by More I...

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Chinese steel price index continues to increase

The Chinese Long Product Price Index CLPPI up by 47 points whereas the Chinese Flat Products Index CFPPI up by 64 points. The overall price index CHISPI up by 56 points. Class 08-Oct 11-Oct Change % CLPPI 6849 6896 47 0.7% CFPPI 6963 7026 64 0.9% CHISPI 6913 6970 56 0.8% CLPPI - Chinese Long Product Price Index CFPPI - Chinese Flat Product Price Index CHISPI - Chinese Steel Price Index Long Products Category 08-Oct 11-Oct Change % PI - WRC 5904 5933 29 0.5% PI - Rebar 7992 8061 68 0.9% PI- Product Index Flat Products Category...

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China major steel product price index (Sep 27-30 2010)

Product Size Previous week This week Change Common wire rod 4395 4360 -1.02 17.89 Rebar 4364 4347 -0.48 14.21 Medium plate 4916 4859 -1.56 16.63 HR sheet 4811 4789 -0.54 15.98 HR coil 4490 4460 -0.78 12.3 CR sheet 5667 5650 -0.35 1.31 Galvanized steel sheet 5718 5712 -0.11 4.88 Seamless steel tube 5396 5401 0.11 15.37 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 in 23 major cities....

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Chinese domestic steel channel price update on Oct 11

Channel #16 Location In CNY In USD Shanghai 0 0 Hangzhou -77 -11 Nanjing 0 0 Jinan 0 0 Hefei 0 0 Fuzhou 103 15 Nanchang 0 0 Guangzhou 52 8 Changsha 0 0 Wuhan 0 0 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shijiazhuang 50 7 Taiyuan 0 0 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Chengdu 0 0 Kunming 0 0 Xian -80 -12 Lanzhou 0 0 Urumchi 0 0 Average 2 0 Change is on 11th October as compared to 8th October 2010 Change is per tonne USD:CNY = 6.67 To know exact prevailing steel prices in China on daily basis,...

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Zambia spent USD 4 million in mineral exploration on the copper belt mining

Zambia spent more than USD 4 million in mineral exploration on the copper belt mining region of the country during the past seven years to boost the country’s mineral potential. Zambia Consolidated Copper Mines Investment Holdings said that ZMK 2 billion had been used in mineral More I...

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South Africa to get 6 new power stations to eradicate power cuts

Business Report reported that South Africa will get 6 new power stations worth ZAR 1.3 trillion in an effort to eradicate power cuts. Ms Nelisiwe Magubane director general at the energy department said that China, France and South Korea would help in the construction of the proposed new More I...

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Alert Steel expects low earnings fro fiscal 2010

Alert Steel Holdings advised that for the year ended June 2010, its loss per share and headline loss per share are expected to be 39.8 and 25.5 cents per share, respectively. The group's results are expected to be released on or before October 15th 2010. More I...

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European Parliament rejects deepwater drilling moratorium

It is reported that the European Parliament has voted against the proposed moratorium on deepwater drilling around its member countries. Mr Malcolm Webb CEO of Oil & Gas UK said that his association welcomed the clear signal that members of the European Parliament have sent to the European More I...

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Russia eyes Algerian gas reserves

It is reported that Mr Alexey Miller Chairman of the Gazprom Management Committee met with Mr Nordine Cherouati President & CEO of the Algerian State Oil and Gas Corporation Sonatrach recently to discuss joint projects particularly on the El Assel natural gas field. Algeria has over 4 More I...

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China to tap in geothermal energy industry

China Daily reported that Sinopec Star Petroleum Co has inked an agreement with Iceland Geysir Green Energy to explore and develop geothermal resources in northern China's Inner Mongolia Autonomous Region with effort to make further use of clean energy in China. The Inner Mongolia project More I...

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Siemens receives order to build 2 turnkey combined cycle power plants

Siemens Energy is to build 2 turnkey combined cycle power plants in Oman. Purchaser of the project financed plants is a consortium led by the French utility GDF SUEZ. As per report Siemens will build the two 750 MW plants Barka III and Sohar II as consortium leader together with its South More I...

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Uttam Galva to exit Delhi Stock Exchange

Leading steel firm Uttam Galva Steels said that it is in process of making an exit from the Delhi Stock Exchange. Mr Ankit Miglani director commercial of Uttam Galva Steels said that “We are in the process of delisting from the Delhi Stock Exchange, as there is no transaction on the More I...

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worldsteel launches Steelies Awards ceremony

At the farewell dinner to close the 44th annual steel industry conference, the World Steel Association hosted its first ever Steel Awards ceremony. The trophies, known as Steelies, were awarded in seven categories. The categories, nominations and winners were: 1. Steel Industry website More I...

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German and Romania interested in South Stream project

RIA Novost citing Mr Alexei Miller CEO of Gazprom as saying that, German companies and Romania are showing interest in Russia gas pipeline project South Stream which will carry Russian gas under the Black Sea to Europe. Mr Alexei Miller told Prime Minister Mr Vladimir Putin that "We see More I...

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Evraz Vitkovice further suspends steel output

It is reported that Evraz Vítkovice Steel will extend its suspension of operations from the end of September indefinitely at its steelmaking plants. Evraz Vítkovice continues to negotiate with ArcelorMittal its only supplier of pig iron. As a whole, the Czech steel industry has More I...

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BMW aims over 120000 vehicle sales in China this year

China Knowledge citing Mr Ian Robertson board member for marketing and sales at the Paris Motor Show said German automaker BMW AG has said that its vehicle sales in China this year will surpass the sales target of 120,000 units. Mr Robertson added that there are strong demands in Chinese More I...

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Baoshan Steel profit advances more than a year earlier

Bloomberg reported that Baoshan Iron & Steel Co China biggest publicly traded steelmaker profit for the first nine months may have risen by between 170% and 190%t from a year ago more than earlier forecast. The Shanghai based company said in a statement to the Shanghai stock exchange that More I...

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Mechel update ferroalloys segment results H1 2010

Mechel update ferroalloys segment result for H1 2010 H1'10 H1'09 Change Revenue 227,539 130,988 73.70% Intersegment sales 77,125 19,419 297.20% Operating income 4,719 -30,341 115.60% Net income -91,842 -202,503 54.60% (In thousand USD) Ferroalloy segment revenue from external customers in the first half of 2010 amounted to USD 227.5 million, or 5.3% of the consolidated net revenue, an increase of 73.7% compared with segment revenue from external customers of USD 131.0 million or 5.3% of the consolidated net revenue in the first...

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Mechel Mining update segment results H1 2010

Mechel update mining segment result for H1 2010 H1'10 H1'09 Change Revenue 1,286,668 723,438 77.90% Intersegment sales 386,642 160,395 141.10% Operating income 468,673 66,037 609.70% Net income 240,539 -17,576 1468.60% EBITDA 586,200 161,753 262.40% (In thousand USD) Mining segment’s revenue from external customers for the first half of 2010 totaled USD 1.3 billion or 29.7% of the consolidated net revenue, an increase of 77.9% over net segment’s revenue from external customers of USD 723.4 million or 29.4% of the consolidated...

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British construction giant Taylor Woodrow in Qatar foray

The Peninsula reported that British construction giant Taylor Woodrow International has made a foray into the fast-expanding Qatari market. Taylor Woodrow is known all over the Middle East as it has been involved in mega and prestigious projects like the Madinat Qaboos port city in Oman. More I...

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Iranian presence in Africa mines to increase

Mr Ali Akbar Mehrabian Iran’s minister of industries and mines unveiled the plans to increase the presence of Iranian companies in African countries mines such as phosphate, bauxite and iron ore. Mr Ali Akbar Mehrabian said that “The documents of cooperation with several African More I...

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Russia disqualifies ONGC from bidding for 2 oilfields

It is reported that Russia has disqualified state owned Oil and Natural Gas Corporation from bidding for the giant Trebs and Titov fields in northwest Russia. Russia’s subsoil agency Rosnedra late last month rejected the bid of Nord Imperial a unit of ONGC’s Russian firm More I...

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Daimler to hike capacity to 70000 units in India by 2014

The world's largest truck maker Daimler on Sunday said it will almost double its production capacity to 70,000 units annually at the upcoming Indian facility, but a final decision in this regard will be taken only after 2014. The company is investing INR 4,400 crore through its wholly More I...

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SAIL inks pact with ARAI

It is reported that a MoU for collaboration was signed between R&D Centre for Iron & Steel SAIL Ranchi and Automotive Research Association of India of Pune on Thursday at Pune. According to a RDCIS release, Mr AS Mathur executive Director in-charge, RDCIS, and Mr SR Marathe, Director, ARAI, More I...

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Macroeconomic indicators - Zambia optimistic of strong growth

Zambia, Africa’s largest copper producer is optimistic of strong economic growth beyond 6% in the H1 of next year spurred by good performance of some key sectors including mining. Ms Chileshe Kapwepwe finance deputy minister of Zambia said that the favourable economic growth of about More I...

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Chinese domestic CR steel price update on Oct 8

CR 1mm Location In CNY In USD Shanghai 0 0 Hangzhou 0 0 Nanjing 0 0 Jinan 94 14 Hefei 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou 0 0 Changsha 0 0 Wuhan -14 -2 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Shenyang 58 9 Harbin 0 0 Chongqing 0 0 Chengdu 60 9 Kunming 67 10 Xian 0 0 Lanzhou 0 0 Urumchi 0 0 Qingdao 44 6 Average 13 2 Change is on 8th October as compared to 30th September 2010 Change is per tonne USD:CNY = 6.68 To know exact prevailing steel prices in China on daily...

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Mechel update power segment results for H1 of 2010

Mechel update power segment result for the H1 of 2010 H1'10 H1'09 Change Revenue 333,219 256,512 29.90% Intersegment sales 209,040 138,511 50,9% Operating income 16,912 12,336 37.10% Net income 5,218 -4,313 221.00% EBITDA 25,818 18,881 36.70% (In thousand USD) Mechel power segment revenue from external customers in the first half of 2010 comprised USD 333.2 million, or 7.7% of consolidated net revenue, an increase of 29.9%YoY compared with the segment’s revenue from external customers of USD 256.5 million or 10.4% of consolidated...

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Update on miners rescue in Chile

Bloomberg reported Chilean rescue workers are drilling into the last 100 meters of rock to reach miners trapped a half mile underground and may begin pulling them out by the end of the weekend. Mr Laurence Golborne mining minister of Chile arrived at the mine site in northern Chile last More I...

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Macroeconomic indicators - German industrial output picked up more strongly in August

AP reported that industrial production in Germany picked up more strongly than expected in August 2010 after barely growing the previous month. The figures underlined the resilience of Germany's recovery. As output picks up, the economy minister advocated bigger pay rises, pointing to a More I...

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Taiwanese HDG export orders dropped since September

According to Taiwan's HDG exporters, the export orders dropped sharply since mills hiked the prices in September 2010. Currently, compared to EU and US markets, demands from Southeast Asia market are relatively strong, especially Indonesia. However, the competition in Indonesia is very More I...

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Steelworkers wage increase a fair model for Germany - Mr Bruederle

Bloomberg reported that Mr Rainer Bruederle economy minister of German has called for pay increases for German employees, citing a 3.6% wage boost for steel workers as a possible model. He said that "We saw that the steel industry found a fair solution very quickly. Other industries will More I...

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Rebar TMT QST price crashes in Mumbai on Oct 8

TMT Fe 415 12mm Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Hyderabad 0 Indore 0 Kanpur -200 Kolkata 0 Mandi 0 Mumbai -688 Raipur 0 Rudrapur -300 Muzzafarnagar -300 Change is on 8th October as compared to 7th October 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...

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Narrow HR steel plate price update on Oct 9

PLTS GR A 8x1250 Location Change Chennai 0 Kanpur -87 Mumbai 0 Rudrapur 0 Change is on 8th October as compared to 7th October 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 domestic galvanized steel HDG price remain flat

HDG 0.5mm Location In CNY In USD Shanghai 0 0 Hangzhou 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou 0 0 Wuhan 0 0 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Xian 0 0 Boxing 0 0 Average 0 0 Change is on 8th October as compared to 30th September 2010 Change is per tonne USD:CNY = 6.68 To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is...

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Interpipe steel pipe output rises by 62pctYoY in January to September

According to preliminary data, in the first nine months of 2010 the pipe producing subsidiaries of Ukraine's Interpipe Corporation increased their steel pipe output by 62%YoY to 627,100 tonnes as compared to the same period of last year. Specifically, in January to September this year, More I...

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Chevron targets China Thailand and Singapore as markets for Australian LNG

Bloomberg quoted Chevron Corp operator of the AUD 43 billionGorgon liquefied natural gas project off northwest Australia said China, India, Thailand, Taiwan and Singapore are targets for future sales of the fuel. The company said with initial customers in place for Gorgon and the proposed More I...

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Saudi Arabia needs USD 50 billion new investments in desalination projects

Saudi Gazette reported that amid freshwater scarcity, population dynamics and rapidly growing economy, Saudi Arabia with an unlimited saltwater resource is confronted with an urgent need to increase its sustainable supply of water. Desalination is set to be the key in the provision of clean More I...

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Tension prevails at Gangavaram Port over jobs

Tension gripped the Gangavaram village in the vicinity of Gangavaram port on Wednesday, as some of the displaced fishermen made a vain attempt to immolate themselves in protest against the attitude of the port management in not providing the promised jobs to the displaced. Some of the More I...

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CAPEX plans - Surya Roshni to invest INR 50 crore for expansion

Lighting and steel pipes maker Surya Roshni Ltd is planning to double its production capacity by end of next year. The expansion includes products like tubes, bulbs and CFL lamps. The company is investing INR 50 crore in the existing plants to double the production capacity. Commenting on More I...

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Raising steel prices may impact production cost - Godrej

Godrej Security Solutions, part of the USD 3 billion Godrej Group, said that raising steel prices will impact production cost by 15% to 20% and will ultimately affect the bottom line. According to Mr Dara E Byramjee VP and business head of GSS, the company will be forced to increase prices More I...

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Kazakhmys chairman sells stake and may list in HK

Reuters reported that Mr Vladimir Kim Kazakhmys Chairman sold nearly a third of his stake in the company to the Kazakh government for about USD 1.3 billion sparking concerns about increasing government involvement in the copper producer. Mr Kim sold about 11% of the London-listed company to More I...

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North American aluminum shipments in August up by 7pct MoM

Aluminum Association data showed that demand for North American semi fabricated aluminum mill products rose by 7.9% MoM in August 2010 from July 2010 and jumped by 10.9% YoY from August 2009. The Aluminum Association said in its latest Aluminum Situation report that shipments increased to More I...

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Narrow HR steel plate prices remain flat on Oct 6

PLTS GR A 8x1250 Location Change Chennai 0 Kanpur 0 Mumbai 0 Rudrapur 0 Change is on 5th October as compared to 4th October 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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HR steel price up in Bangalore

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 453 Chennai 0 Delhi 0 Indore 0 Kolkata 0 Ludhiana 91 Mumbai 0 Change is on 5th October as compared to 4th October 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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Mazda new car sales in Romanian market up by 17pct YoY

Mazda Romania said that Mazda continues to register increases in the sales volume on the Romanian market for the fourth consecutive month, with the number of traded units rising by 17% in September 2010 as compared with the same month of 2009. As many as 668 Mazda automobiles were sold More I...

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US Trade Representative Mr Kirk visits Marlin Steel

Mr Ron Kirk US Trade Representative told Mr Drew Greenblatt president of Marlin Steel that "We need more companies like Marlin Steel Wire building in the USA and exporting all over the world." He was delighted that Marlin exported sheet metal baskets to Merck plants overseas and complex More I...

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Macroeconomic indicators - Euro area retail trade volume fell

According to the data published by Eurostat and the National Institute of Statistics, the volume of retail trade decreased by 0.4% MoM in the euro area in August 2010 as compared with July 2010 and by 0.3% MoM in the EU 27. In July retail trade rose by 0.1% in both zones. In August 2010 as More I...

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Nobel Prize for discovering ultra thin carbon 100 times stronger than steel

2 Russian born scientists shared the Nobel Prize in physics for groundbreaking experiments with the strongest and thinnest material known to mankind, a potential building block for faster computers and lighter airplanes and satellites. The Royal Swedish Academy of Sciences said that Dr More I...

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VSW confirms compliance of its wheel production to AAR requirements

It is reported that American Association of Railroads auditor Mr Martin Clark has confirmed that railroad wheels manufactured by Vyksa Steel Works part of United Metallurgical Company comply with the requirements of the AAR M-07/M-208 specification. This is one of the compulsory conditions for More I...

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Wide steel plate price remains flat on Oct 6

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 5th October as compared to 4th October 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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Pig iron prices remain flat on Oct 6

Pig iron Foundry Grade Location Change Agra 0 Jallandhar 0 Kolkata 0 Raipur 0 Change is on 5th October as compared to 4th October 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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