Announcement

Sunday, January 31, 2010

Kazakhmys sees 2010 flat after copper output slides

Reuters reported that Kazakh copper producer Kazakhmys forecast no output growth this year after shutting mines to save cash in 2009 and seeing Q4 production slide by 25%.

Investors will have to wait until at least 2011 for the company's growth projects to lift output. It sealed a deal last year for USD 2.7 billion in financing for expansion projects.

The London listed company said that in a production report that it slightly exceeded its 2009 output target of 315,000 tonnes of copper cathode, coming in with 320,400 tonnes, but this was 6.6% fall from the previous year.

Analysts said that the production data was largely in line with expectations. The shares were up 1.4% at 1283 pence at 1128 GMT, outperforming a 0.4% rise in the UK mining index.

Mr Liam Fitzpatrick analyst of Credit Suisse reiterated an outperform rating and a target of 1270 pence, saying the 2010 price earnings ratio of 8.0 was a discount to the firm's global peers.

Kazakhmys suspended output at 4 high cost mines last year to save cash during the economic downturn, which hammered copper prices. The mines are not due to be restarted in the near term and the company does not have the stockpiles to sell in 2010 like it did last year, which allowed an upgrade of the annual cathode target from an initial 300,000 tonnes.

Mr Oleg Novachuk CEO of Kazakhmys said that "In 2010 ore output will be maintained at a similar level to 2009 and the target for cathode production will therefore again be just over 300,000 tonnes."

Production of copper cathodes from its own concentrate decreased to 68,100 tonnes in the 3 months to the end of December from 91,300 tonnes in the previous year.

Mr John Smelt head of corporate communications said that part of the decline was due to maintenance work on smelters and rebuilding inventories after depleting them earlier in the year, so Q1 2010 cathode production should improve. However, it will take longer for growth projects to make an impact on production.

(Sourced from http://www.steelguru.com/news/index/2010/02/01/MTMwOTky/Kazakhmys_sees_2010_flat_after_copper_output_slides.html)

Downsizing deals - Mr Berlusconi warns Alcoa on closures

FT reported that Mr Silvio Berlusconi, the Italian premier, warned Alcoa, the US aluminium producer, that it risked damaging its relations with the Italian government if it went ahead with its decision to shut down two smelters.

In a letter to Mr Klaus Kleinfeld, Alcoa CEO, Mr Berlusconi urged the US giant not to act on its decision to shut down two smelters by February 6 and to wait for the outcome of Alcoa's appeal to the European Commission over electricity subsidies.
Mr Berlusconi said that shutting down the two plants in Sardinia and near Venice could alter relations between the Italian government and the multinational.

Mr Berlusconi's statement reflected the government's alarm at rising job losses across Italian operations of Aloca.

(Sourced http://www.steelguru.com/news/index/2010/02/01/MTMwOTkx/Downsizing_deals_-_Mr_Berlusconi_warns_Alcoa_on_closures.html)

Monday Market Monitor - Metals (WEEK 04) - Gloom prevails

Base metals continued their downward journey last week with copper hitting a 2 month low on Friday.

Surprisingly strong US economic growth figures were outweighed by a firmer dollar and lingering worries over potential monetary tightening in China.

The US economy grew at a faster than expected 5.7% in the fourth quarter, the quickest pace in more than six years but metals retraced gains amid lingering concern about China's move on January 12 to raise domestic banks' reserve requirement ratio, a possible precursor to rate hikes.

Investors further fear that if the US economy recovers strongly, the Federal Reserve might decide to raise interest rates sooner than initially expected, which would boost the dollar and might cap metal prices as a stronger dollar makes dollar priced metals more expensive for non US investors.

London Metal Exchange Rates
Cash Buyer


Product 21-Jan 28-Jan Change %

Zinc 2447 2155 -292 -12%

Nickel 18800 18125 -675 -4%

Tin 17890 17625 -265 -1%

Aluminium 2229 2126 -104 -5%

Copper 7346 7042 -305 -4%


Change is on December 31st as compared to December 24th 2009
In USD per tonne

1. Zinc

London Metal Exchange Rates
Cash Buyer


21-Jan 25-Jan 26-Jan 27-Jan 28-Jan

2447 2323 2307 2254 2155


In USD per tonne


Date Rate Period Change

28-Jan 2155

21-Jan 2447 WoW -11.93%

28-Dec 2490 MoM -13.45%

28-Oct 2240 QoQ -3.79%

28-Jan'09 1121 YoY 92.24%


In USD per tonne

2. Nickel

London Metal Exchange Rates
Cash Buyer


21-Jan 25-Jan 26-Jan 27-Jan 28-Jan

18800 18370 18290 17930 18125


In USD per tonne


Date Rate Period Change

28-Jan 18125

21-Jan 18800 WoW -3.59%

28-Dec 18630 MoM -2.71%

28-Oct 18495 QoQ -2.00%

28-Jan'09 11650 YoY 55.58%


In USD per tonne

LME nickel stocks hit another record high of 164,808 tonnes.

3. Tin

London Metal Exchange Rates
Cash Buyer


21-Jan 25-Jan 26-Jan 27-Jan 28-Jan

17890 17700 17740 17920 17625



In USD per tonne


Date Rate Period Change

28-Jan 17625

21-Jan 17890 WoW -1.48%

28-Dec 16140 MoM 9.20%

28-Oct 15090 QoQ 16.80%

28-Jan'09 11450 YoY 53.93%


In USD per tonne

4. Aluminium

London Metal Exchange Rates
Cash Buyer


21-Jan 25-Jan 26-Jan 27-Jan 28-Jan

2229 2217 2189 2149 2126


In USD per tonne


Date Rate Period Change

28-Jan 2126

21-Jan 2229 WoW -4.64%

28-Dec 2200 MoM -3.39%

28-Oct 1928 QoQ 10.24%

28-Jan'09 1331 YoY 59.69%


In USD per tonne

LME stocks of aluminium remained near record levels above 4.6 million tonnes.

5. Copper

London Metal Exchange Rates
Cash Buyer


21-Jan 25-Jan 26-Jan 27-Jan 28-Jan

7346 7408 7305 7243 7042


In USD per tonne


Date Rate Period Change

28-Jan 7042

21-Jan 7346 WoW -4.15%

28-Dec 7069 MoM -0.39%

28-Oct 6470 QoQ 8.83%

28-Jan'09 3292 YoY 113.90%


In USD per tonne

LME copper stocks rose to 541,050 tonnes, a near one year high.

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(Sourced from www.steelprices-india.com)

Outlook for nickel by Kedia Commodity

Nickel has traded with the positive node and settled 0.91% up at 840.4. Some support had been seen from the LME stock also which came down by 186 million tonnes, the total stock at LME is now at 163518 million tonnes. In the trading session, nickel has touched the low of 825.5 after opening at 831.9, and finally settled at 840.4.

For today's session, market is looking to take support at 825.6, a break below could see a test of 810.80 and where as resistance is now likely to be seen at 855.1, a move above could see prices testing 869.80.

Spread between nickel January and February contracts ended at 3.90, we have seen yesterday that the nickel market had traded with a positive node and settled 0.91% up. Spread yesterday traded in the range of 3.90 to 5.40.

(Sourced from http://www.steelguru.com/news/index/2010/02/01/MTMwOTg5/Outlook_for_nickel_by_Kedia_Commodity.html)

Taigang Stainless to up stainless seamless pipe output

It is reported that Shanxi based Chinese stainless steel producer Taigang Stainless Steel produced 6,000 tonnes of stainless seamless pipe in 2009, basically equivalent to the output level for the previous year.

Meanwhile, Taigang Stainless Steel forecasts a significant rise in its production of stainless seamless pipe in 2010, recalling that on December 16th 2009 its 6,000 tonnes extruding machine, part of its new 50,000 tonnes stainless seamless pipe project, succeeded in producing its first stainless seamless pipes.

(Sourced from http://www.steelguru.com/news/index/2010/02/01/MTMwOTg3/Taigang_Stainless_to_up_stainless_seamless_pipe_output.html)

Jinchuan takes stake in Tanzanian Royalty nickel project

Tanzanian Royalty Exploration announced that Jinchuan Mining has agreed to participate in the exploration and development of the Company's Kabanga nickel properties in northwestern Tanzania.

Following the recent conclusion of an option agreement with Beijing Songshanheli Mining Investment Co Ltd, which previously held the properties under an exclusive agreement with Tanzanian Royalty, Jinchuan Mining has agreed to act as operator and hold complete financial responsibility for all exploration activities on the nickel exploration licenses.

Jinchuan Group Limited, the parent company of Jinchuan Mining, is a large integrated non-ferrous metallurgical and chemical engineering enterprise engaged in mining, concentrating, metallurgy and chemical engineering. It produces nickel, copper, cobalt, rare and precious metals and also some chemical products such as sulphuric acid, caustic soda, liquid chlorine, hydrochloric acid and sodium sulphite, together with some further processed nonferrous metals products.

The Chinese joint venture partners will hold the right to earn a 100% interest in the Kabanga nickel properties for time-sensitive payments including staged exploration expenditures and a 30-year 3% net smelter royalty in favour of Tanzanian Royalty upon achieving commercial production.

Tanzanian Royalty's Kabanga properties comprise a project area of 4,200 square kilometres, with targets for nickel, cobalt and PGM mineralization. The project area is situated to the north of the high grade Kabanga nickel deposit which is currently under development by a joint venture consisting of Barrick and Xstrata.

Mr James E. Sinclair chairman & CEO of Tanzanian Royalty said “The joint participation of these two respected Chinese companies in our Kabanga project is tangible recognition of the potential of this emerging nickel belt and the prospects for further discoveries. When we acquired the Kabanga licenses several years ago, we recognized the cyclical nature of metal markets and realized that base metal prices including nickel would rebound based on demand from developing economies - especially China. Time has confirmed this observation and we expect to develop a close working relationship with our Chinese partners whose level of integration from exploration to smelting and refining is highly regarded within the global metals industry.”

Mr Sinclair emphasized “When the Kabanga properties were first acquired by the Company, individual licenses were selected proximal to strong aeromagnetic anomalies and known gabbro/norite bodies that are believed to represent important stratigraphic controls for the nickel, copper and PGM mineralization in the region. History shows that nickel deposits like Kabanga rarely occur alone.”

Exploration work on the nickel licenses is expected to begin early this year, with Tanzanian Royalty providing logistical and related assistance to Jinchuan and Beijing Songshanheli in several key areas including government relations, license maintenance, corporate filings and the importing of heavy equipment.

The group's output of nickel and platinum group metals respectively accounts for more than 90% of Chinese production. Jinchuan Group is situated in Jinchang, an industrial city in the eastern portion of the Hexi Corridor of Gansu Province. Jinchuan Group is the largest producer of nickel and cobalt in China and its namesake is honoured as the "Nickel City" of China.

http://www.steelguru.com/news/index/2010/02/01/MTMwOTg0/Jinchuan_takes_stake_in_Tanzanian_Royalty_nickel_project.html

China approves Baosteel stainless steel plate standard

Based on the authorization of China's State Administration of Inspection and Quarantine, experts from the country's national steel product research and test center have announced that the stainless steel plate produced by Baosteel is in accordance with the requirements for manufacturing special equipment (including high pressure containers, elevators and hoisting machines).

With its manufacturing license for special equipment, Baosteel's production line for stainless steel plate will now be able to produce materials destined for special equipment manufacture.

http://www.steelguru.com/news/index/2010/02/01/MTMwOTg2/China_approves_Baosteel_stainless_steel_plate_standard.html

Downsizing deals - ArcelorMittal to restart a BF at Indiana mill

Company and union officials said that steelmaker ArcelorMittal is planning to restart a blast furnace at a northwestern Indiana mill in a move that could put hundreds of workers back on the job.

ArcelorMittal said that it is increasing production at the East Chicago plant in response to

Sourse: More Info

Macroeconomic indicators - US new home sales fell unexpectedly in December

Reuters reported that sales of newly built single family homes in US fell unexpectedly in December 2009 as the bounce from an initial tax credit fizzled, the latest sign that the government led housing recovery might be losing some steam.

The government data followed a report showing a

Sourse: More Info

IMF warns on money flows into emerging markets

The International Monetary Fund said that the rapid flow of money into emerging markets is beginning to raise concerns about asset prices overheating, and policymakers cannot afford to be complacent.

IMF said in an update of its Global Financial Stability Report that while the rise in asset

Sourse: More Info

Friday, January 29, 2010

Chinese plate price remain flat on Jan 29

Plates
20mm
Common


Location In CNY In USD

Beijing 0 0

Changsha 0 0

Chengdu 0 0

Chongqing 0 0

Fuzhou 0 0

Guangzhou 0 0

Hangzhou 0 0

Harbin 0 0

Hefei 0 0

Jinan 0 0

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 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 0 0

Average 0 0


Change is on 29th January as compared to 28th January 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 mail to admin@steelprices-china.com. Please note that this is a paid service with subscription charges of USD 750 for 12 months. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-china.com/spi_services/terms_of_use_for_registration.html

(Sourced from www. steelprices-china.com)

Chinese steel wire rod price movement

WRC
6.5mm
Common


Location In CNY In USD

Changsha 0 0

Chengdu 0 0

Chongqing -8 -1

Guiyang 0 0

Hangzhou 0 0

Harbin 0 0

Kunming 0 0

Nanchang -21 -3

Nanjing 0 0

Shanghai 0 0

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Tianjin 0 0

Wuhan 0 0

Zhengzhou 0 0

Average -1.8125 0


Change is on 29th January as compared to 28th January 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 mail to admin@steelprices-china.com. Please note that this is a paid service with subscription charges of USD 750 for 12 months. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-china.com/spi_services/terms_of_use_for_registration.html

(Sourced from www. steelprices-china.com)

Chinese domestic HR steel prices shown improvement

HRC
4.75mm
Common


Location In CNY In USD

Beijing 17 2

Changsha 0 0

Chengdu 0 0

Chongqing 0 0

Fuzhou 0 0

Guangzhou 0 0

Hangzhou 0 0

Harbin 0 0

Hefei 0 0

Jinan 0 0

Kunming 0 0

Lanzhou 0 0

Nanchang 0 0

Nanjing 0 0

Shanghai 0 0

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan 59 9

Tianjin 0 0

Urumchi 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 0 0

Average 3 0


Change is on 29th January as compared to 28th January 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 mail to admin@steelprices-china.com. Please note that this is a paid service with subscription charges of USD 750 for 12 months. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-china.com/spi_services/terms_of_use_for_registration.html

(Sourced from www. steelprices-china.com)

Chinese steel rebar prices start decreasing again

Rebar
20mm
HRB 400


Location In CNY In USD

Beijing 0 0

Changsha -31 -5

Chengdu 0 0

Chongqing -10 -1

Fuzhou 0 0

Guangzhou -20 -3

Guiyang 0 0

Hangzhou 0 0

Harbin 0 0

Hefei 0 0

Jinan 0 0

Kunming 0 0

Lanzhou 11 2

Nanchang -20 -3

Nanjing 0 0

Shanghai 0 0

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Tianjin 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 0 0

Average -3 0


Change is on 29th January as compared to 28th January 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 mail to admin@steelprices-china.com. Please note that this is a paid service with subscription charges of USD 750 for 12 months. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-china.com/spi_services/terms_of_use_for_registration.html

(Sourced from www. steelprices-china.com)

Wire rod prices down in Raipur on Jan 29

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Raipur -178

Rudrapur 0


Change is on 29th January as compared to 28th January 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.steelprices-india.com)

Mundra Port net up in Q3 2009 | Mundra Port net up in Q3 2009

Mundra Port on standalone basis, the company has announced a phenomenal rise for the quarter ended December 2009. During the quarter, the profit of the company rose 61.94% to INR 1,632.58 million from INR 1,008.12 million in the same quarter previous year.

Net sales for the quarter rose

Sourse: More Info

Crompton Greaves earnings up in Q3 2009

Crompton Greaves has announced a phenomenal rise in standalone net profit for the quarter ended December 2009. During the quarter, the profit of the company rose 59.76% to INR 1,354.30 million from INR 847.70 million in the same quarter previous year.

Net sales for the quarter for the

Sourse: More Info

Chinese province wise wire rod output in 2009

It is reported that China province wise wire rod output during January to December 2009 total 95.9 million tonnes which Hebei topping the table.



Province Dec'09 Dec'08 Change 2009 2008 Change

Total 8.7 7.1 23.5 95.9 79.3 20.9

Hebei 1.8 1.7 6.9 19.3 14.9 29.6

Jiangsu 0.8 0.8 -1.8 10.5 9.9 6.1

Henan 0.7 0.4 82.3 7.3 5.9 22.9

Shandong 0.4 0.4 23.8 6.5 6.2 4.7

Shanxi 0.6 0.3 104.5 5.8 4.2 38.4

Liaoning 0.4 0.4 8.5 5.0 4.0 25.7

Jiangxi 0.4 0.3 19.9 4.6 3.1 46.5

Guangdong 0.4 0.3 39.8 3.7 3.1 19.1

Hunan 0.2 0.2 10 3.1 2.4 30.2

Yunnan 0.3 0.2 24.3 2.8 2.5 14.1

Anhui 0.3 0.2 20.7 2.8 2.7 3.8

Inner Mongolia 0.1 0.1 117.8 2.5 0.7 279.2

Sichuan 0.2 0.2 18.7 2.4 1.9 25.3

Zhejiang 0.3 0.1 77.6 2.4 2.2 7.6

Beijing 0.2 0.2 -14.5 2.3 2.3 -0.1

Guangxi 0.3 0.2 26.1 2.2 1.8 20.9

Fujian 0.2 0.2 7.1 2.0 1.9 3.1

Hubei 0.1 0.1 -13.7 1.8 1.9 -2

Xinjiang 0.2 0.2 2.2 1.8 1.5 14.3

Gansu 0.1 0.1 1 1.5 1.4 7.8

Tianjin 0.2 0.0 343 1.0 0.6 77.6

Guizhou 0.1 0.0 106.4 1.0 1.1 -7.3

Chongqing 0.1 0.1 31.9 1.0 1.0 -0.2

Sha'anxi 0.1 0.0 163.8 0.7 0.2 202.3

Shanghai 0.1 0.0 35.6 0.7 0.7 -7.5

Jilin 0.0 0.1 -68.9 0.6 0.7 -7.7

Heilongjiang 0.0 0.0 140.8 0.3 0.3 5.7

Qinghai 0.0 0.0 716.7 0.1 0.1 20.4

Ningxia 0.0 0.0 0 0.0 0.0 20.6

Hainan 0.0 0.0 0 0.0 0.0 -63.6


In million tonnes

http://www.steelguru.com/news/index/2010/01/30/MTMwNzEw/Chinese_province_wise_wire_rod_output_in_2009.html

Chinese steel price index remains flat

The Chinese Long Product Price Index CLPPI went down by 3 points whereas the Chinese Flat Products Index CFPPI up by 2 points. The overall price index CHISPI remains flat.



Class 28-Jan 29-Jan Change %

CLPPI 6169 6165 -3 -0.1%

CFPPI 6361 6362 2 0.0%

CHISPI 6277 6277 0 0.0%


CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index

Long Products


Category 28-Jan 29-Jan Change %

PI - WRC 5379 5377 -2 0.0%

PI - Rebar 7124 7119 -5 -0.1%


PI- Product Index

Flat Products


Category 28-Jan 29-Jan Change %

PI - Plates 5582 5582 0 0.0%

PI - HR 6200 6204 3 0.1%

PI - CRC 7401 7407 5 0.1%

PI - HDG 6716 6706 -10 -0.2%


PI- Product Index

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

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(Sourced from www. steelprices-china.com)

Narrow HR plate price falls in Chennai

PLTS
GR A
8x1250


Location Change

Chennai -315

Kanpur 0

Mumbai 0

Rudrapur 0



Change is on 29th January as compared to 28th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

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 0

Mumbai -225

Raipur -208

Rudrapur 0


Change is on 29th January as compared to 28th January 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.steelprices-india.com

Steel light channel prices update on Jan 29

CHNL
GR A
75/100


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore -200

Kanpur 0

Kolkata 0

Mandi -312

Mumbai -225

Raipur -208

Rudrapur 0



Change is on 29th January as compared to 28th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com

GMR Infra Q3 PAT plunges by 85pct to INR 9 crore

It is reported that GMR Infrastrucutre, a Bangalore based infrastructure major reported a decline of 85% in its net profit at INR 9.2 crore for the quarter ended December 31st 2009 as compared to INR 61.3 crore in the same quarter previous year.

During the quarter the company acquired 70%

Sourse: More Info

Thursday, January 28, 2010

Steel joist (Beam) prices scenario in major places

JSTI
GR A
250X125


Location Change

Ahmedabad -520

Bangalore 1800

Chennai -1000

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 1040

Mumbai 0

Raipur 0

Rudrapur 0


Change is on 28th January as compared to 27th January 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.steelprices-india.com

Plate cuttings prices update

Product Grade Size Change

Plate cuttings Rolling 1" 100

Ship Scrap Melting Mixed -200


Change is on 28th January as compared to 27th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Pencil ingot price crash remains unabated on Jan 28

Pencil ingot


Location Change

Ahmedabad -600

Bhiwari -1200

Durgapur -277

Ghaziabad -500

Hyderabad -1000

Jaipur -300

Jamshedpur 0

Kanpur 0

Kolkata -647

Mandi -554

Mumbai 0

Muzzafarnagar -355

Nagpur -370

Raigarh 0

Raipur -185

Rourkela -277

Rudrapur 0


Change is on 28th January as compared to 27th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Al Naboodah bags contract to build railway station at NDIA

MEED reported that a JV of UAE based Al Naboodah Contracting and South Africa’s Group Five has won an estimated QAR 400 million contract to build a railway station at the USD 11 billion New Doha International Airport.

The 2 year project, known as the Passenger Railway Station Box,

Sourse: More Info

Rays of recovery - Kuwaiti residential segment expected to pick up

1. Utilization rates are expected to be in the range of 65 % to 70%.

With lesser projects continuing because of the economic uncertainty, the demand of cement has declined because of which the utilization rates of cement manufacturers have gone down to an average of 75% as of 9 months of

Sourse: More Info

Rebar on an upward trend for the second week in a row

According to the index pricelist issued by the Jordanian Chamber of Industry in cooperation with steel mills in Jordan, Rebar mills in Jordan have announced higher quotes for their products. These prices were made effective for one week starting January 25th 2010. This rise is the second in a

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Steel light channel prices update on Jan 28

CHNL
GR A
75/100


Location Change

Ahmedabad -563

Bangalore -700

Chennai -1000

Delhi 0

Indore -200

Kanpur 0

Kolkata 0

Mandi -208

Mumbai 0

Raipur 0

Rudrapur 0


Change is on 28th January as compared to 27th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com

Steel angle prices update on Jan 28

ANGL
GR A
65X6


Location Change

Ahmedabad -563

Bangalore -1500

Chennai -1000

Delhi 0

Indore -200

Kanpur 0

Kolkata 0

Mandi 832

Mumbai 0

Raipur 0

Rudrapur 0


Change is on 28th January as compared to 27th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Wire rod prices decrease in Chennai

WRC
SWR14
5.5/6


Location Change

Chennai -500

Delhi 0

Kanpur 0

Kolkata 0

Raipur 0

Rudrapur 0



Change is on 28th January as compared to 27th January 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.steelprices-india.com)

Emirates Steel to consolidate its debt financing in 2010

Emirates Steel is finalizing plans to consolidate its debt financing and intends to launch the first major Project Finance transaction for the year in the GCC in Q1 2010. Emirates Steel is looking to raise USD 1.5 billion through limited recourse financing to cover the financing needs of its

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Iranian steel pipe prices decrease due to weak demand

It is reported that because of the weak welded pipe market demand, some of Iran's local distributors have reduced their stock offer price by USD 15 per tonne to USD 45 per tonne.

However, Iran's tube & pipe producers have not been willing to reduce their offer price at this moment they

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Dodsal bags Abu Dhabi pipeline contracts

Dodsal has secured contracts worth over $US160 million to construct two gas pipelines in Abu Dhabi.

The first contract is for the replacement of a 100 kilometers, 36 inch diameter pipeline linking Abu Dhabi Gas Industries’ Thamma C production facilities in the northeast to the

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Erdemir to keep HRC price unchanged for February

Erdemir Group has announced its HRC price will remain unchanged for February shipment.

However, the company may raise its HRC price for March shipment. Actually, most of Erdemir's steel allocation will supply the domestic market.

It is about four months long that Erdemir had not

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Metalloinvest Hamriyah Steel launches trial production

Reuters quoted Metalloinvest as saying that its new Hamriyah Steel plant in the UAE will achieve full operating capacity by the end of this year.

As per report, the plant which will have capacity to produce 1 million tonnes of rebar annually for the construction industry, launched trial

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Lanco Infratech bags 5 contracts for power plant in Maharashtra

Lanco Infratech announced that it bagged contracts, totaling value of INR 56.75 billion.

The first contract is for offshore supplies equivalent to INR 21.6 billion, the second for civil works of INR 10.21 billion, the third for onshore supplies of INR 17.56 billion and the fourth for

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Pratibha Industries Q3 profit up by 6pct YoY

Pratibha Industries disclosed a small rise in standalone net profit for the quarter ended December 2009.

During the quarter, the profit of the company rose 5.91% to INR 109.80 million from INR 103.68 million in the same quarter last year.

Net sales for the quarter for the quarter rose

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Wednesday, January 27, 2010

Indian steel price index continues on downward trend

The Indian Long Product Price Index ILPPI went down by 53 points whereas Indian Flat Product Price Index IFPPI went down by 12 points. The overall Indian Steel Price Index INDSPI down by 33 points


Class 25-Jan 27-Jan Change %

ILPPI 6873 6820 -53 -0.8%

IFPPI 7457 7446 -12 -0.2%

INDSPI 7151 7118 -33 -0.5%


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

Long Products


Category 25-Jan 27-Jan Change %

PI - TMT 6641 6579 -62 -0.9%

PI - WRC 7403 7343 -60 -0.8%

PI - Angle 6473 6433 -41 -0.6%

PI - Channel 6519 6497 -21 -0.3%

PI - Joist 5930 5924 -6 -0.1%


PI - Product Index

Flat Products


Category 25-Jan 27-Jan Change %

PI - Narrow Plates 7150 7150 0 0.0%

PI - Wide Plates 7251 7240 -11 -0.2%

PI - Hot Rolled 7253 7253 0 0.0%

PI - Cold Rolled 8098 8032 -67 -0.8%

PI - Galvanized 8009 8028 18 0.2%


PI - Product Index

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

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

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(Sourced from www.steelprices-india.com)

Plate cuttings prices update on Jan 27

Product Grade Size Change

Plate cuttings Rolling 1" 100

Ship Scrap Melting Mixed -200


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

Wide steel plate price update on Jan 27

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad -277

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur -267

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur -267


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

Steel melting scrap price crashes further on Jan 27

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad -500

Kandla 0

Kanpur -444

Kolkata -462

Mandi -92

Mumbai -300

Rudrapur -800


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

Pencil ingot price movement down across India on Jan 27

Pencil ingot


Location Change

Ahmedabad -200

Bhiwari 0

Durgapur -277

Ghaziabad -200

Hyderabad 0

Jaipur -300

Jamshedpur 0

Kanpur -711

Kolkata -185

Mandi -92

Mumbai -200

Muzzafarnagar 0

Nagpur -185

Raigarh 0

Raipur 0

Rourkela -185

Rudrapur -800


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

Hero Honda Q3 profit zooms to INR 536 crores

Hero Honda Motors Limited has announced the Unaudited financial results for the quarter ended December 31st 2009.

The Company has posted a net profit of INR 5357.70 million for the quarter ended December 31st 2009 as compared to INR 3004.20 million for the quarter ended December 31st 2008.

Sourse: More Info

Sponge iron price update on Jan 27

Sponge iron


Location Change

Bellary -100

Kolkata 700

Raigarh 0

Raipur 100

Rourkela 0


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

GC (HDG) price scenario on Jan 27

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 277

Ludhiana 92

Mumbai 0

Rudrapur -355


Change is on 27th January as compared to 25th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Macroeconomic indicators - Sri Lanka private industrial production up in October

According to an official index with apparel and textiles showing signs of recovery, Sri Lanka's private sector industrial production was up 3.4% in October from a year earlier.

The apparel, textile and leather sector grew 2.5% in October 2009 from a year earlier on an index compiled by the

Sourse: More Info

HRC prices increase on Jan 27

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana 277

Mumbai 0


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

Patra (Narrow HR strips) increase in Ludhiana

Patra


Location Change

Delhi 0

Ludhiana 185

Mandi 0


Change is on 27th January as compared to 25th January 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Narrow HR plate update on Jan 27

PLTS
GR A
8x1250


Location Change

Chennai 0

Kanpur -178

Mumbai 0

Rudrapur -355


Change is on 27th January as compared to 25th January 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.steelprices-india.com)

Chinese steel price index continues on downtrend

The Chinese Long Product Price Index CLPPI went down by 9 points whereas the Chinese Flat Products Index CFPPI went down by 14 points. The overall price index CHISPI went down by 12 points.



Class 26-Jan 27-Jan Change %

CLPPI 6186 6178 -9 -0.1%

CFPPI 6375 6361 -14 -0.2%

CHISPI 6293 6281 -12 -0.2%


CLPPI - Chinese Long Product Price Index
CFPPI - Chinese Flat Product Price Index
CHISPI - Chinese Steel Price Index

Long Products


Category 26-Jan 27-Jan Change %

PI - WRC 5396 5390 -7 -0.1%

PI - Rebar 7142 7131 -11 -0.2%


PI- Product Index

Flat Products


Category 26-Jan 27-Jan Change %

PI - Plates 5598 5584 -14 -0.3%

PI - HR 6213 6198 -15 -0.2%

PI - CRC 7423 7411 -12 -0.2%

PI - HDG 6729 6716 -13 -0.2%


PI- Product Index

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

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(Sourced from www. steelprices-china.com)

Ircon International declares interim dividend of 212pct

Ircon International Limited has announced that the Board of Directors of the Company at its meeting held on January 25th 2010, inter alia, has declared an interim dividend INR 21.20 per share of INR 10 per share of the paid up share capital of INR 9898 crores for 2009 to 2010, as recommended

Sourse: More Info

Movement of oversized vehicles on roads in India

The Road Transport and Highways Ministry is reportedly considering allowing movement of trucks and tractor trailers with dimensions larger than what is prescribed in the Central Motor Vehicles Act, 1988, on the roads for some more time.

A notification extending the period for which the

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Mercator Lines bags INR 1000 crore deal

Mercator Lines Limited has signed 7 year contract to charter out a mobile offshore production unit and a floating storage and offloading unit through its wholly owned subsidiary in Singapore.

As per report, the charter will come into force from September 2010. The estimated value of the

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CCI approves sanction for Southern Railway electrification project

The Hindu Business reported that the Cabinet Committee on Infrastructure has approved the electrification of the Shoranur Mangalore Penambur section of Southern Railway at a total cost of INR 302.5 crore.

The project is planned to be completed in 5 years and will be executed by Central

Sourse: More Info

Tuesday, January 26, 2010

Vietnamese coal sector must focus on labour safety - Mr Trung

According to Mr Hoang Trung Hai Deputy Prime Minister of Vietnam at the Vietnam Coal and Mineral Industries Group conference to review the work done in 2009 and implement tasks for 2010 in Hanoi on January 23rd, that ensuring labour safety is the responsibility of not only each worker but also each production team in order to minimize accidents in coal exploitation.

Mr Hai also asked the group to boost coal production for domestic consumption and export as well as ensure energy balance. He said that Vietnam’s coal demand is estimated at 200 million tonnes by 2020 and over 300 million tonnes by 2025, and entrusted Vinacomin to build a long-term production plan to manufacture 100 million tonnes of coal in 2020.

Vinacomin targets the total revenue of VND 62.3 trillion up by 8% as against last year, profit of VND 3.5 trillion and workers average income of VND 5.6 million a month per capital.

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMzUx/Vietnamese_coal_sector_must_focus_on_labour_safety_-_Mr_Trung.html)

Guizhou Panjiang net profit for 2009 may surge by 50pct

China Knowledge reported that Guizhou Panjiang Refined Coal Co Ltd announced that its estimated net profit for 2009 was up more than 50% from the CNY 540.04 million it reaped in 2008 and that its earnings per share for 2008 were CNY 0.91.

Last year, the coal producer sold 3.4 million tonnes of refined coal, an amount 470,000 tons more than the 2.93 million tonnes it sold in 2008. Its sales volume of blended coal was 3.32 million tonnes, 1.41 million tons more than in 2008.

Reportedly, Guizhou Panjiang Refined Coal last month planned to invest CNY 150 million in Huachuang Securities Brokerage Co Ltd to increase the latter firm registered capital. The coal firm in 2001 spent CNY 10 million for a 5% stake in the security firm.

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMzQz/Guizhou_Panjiang_net_profit_for_2009_may_surge_by_50pct.html)

JSC Khartsyzsk production performance for 2009

JSC Khartsyzsk Tube Works, part of Metinvest Group, in December 2009 produced 18,940 tonnes of large diameter pipes.

In December, KhTW produced 18,940 tonnes of large diameter pipes, which is by 2,050 tonnes below November performance.


Product Dec'09 Nov'09 Change

LDP 18,937 20,989 -10.84%


In tonnes
December production decline is due to the month production program.



Product 2009 2008 Change

LDP 523,152 387,746 25.88%


In tonnes

JSC Khartsyzsk Tube Works (KhTW) is the largest plant in CIS that manufactures large diameter longitudinal electric welded pipes from 478 to 1420 mm for cross-country gas and oil pipelines. KhTW production capacity is over 1.1 million tonnes of pipes.

http://www.steelguru.com/news/index/2010/01/27/MTMwMjgw/JSC_Khartsyzsk_production_performance_for_2009.html

China steel product output in 2009

It is reported that China province wise steel product output during January to December 2009 total 692.4 million tonnes which Hebei topping the table.



Province Dec'09 Dec'08 Change J-D'09 J-D'08 Change

Total 64.6 49.2 31.4 692.4 584.3 18.5

Hebei 14.9 11.4 30.9 151.3 119.3 26.8

Jiangsu 7.0 5.6 23.9 78.6 72.5 8.4

Shandong 4.4 4.0 10.5 58.5 50.7 15.5

Liaoning 4.6 3.5 31.8 49.4 41.3 19.4

Tianjin 3.7 2.6 43.9 40.8 31.3 30.5

Henan 2.8 1.9 44.8 28.8 25.2 14.4

Zhejiang 2.6 1.7 50.6 23.6 18.3 28.7

Shanxi 2.3 1.5 46.4 22.9 19.7 16.1

Guangdong 2.5 1.6 50 22.9 19.8 15.6

Shanghai 2.0 1.7 14.5 21.8 21.9 -0.3

Hubei 2.0 1.6 28.8 21.7 21.6 0.8

Anhui 2.0 1.5 32.7 21.1 19.0 11.2

Sichuan 1.5 1.4 5.8 18.3 16.0 14.6

Jiangxi 1.7 1.2 48.3 16.5 12.8 29.1

Hunan 1.3 1.2 14.3 15.0 13.0 15.4

Fujian 1.3 0.9 42.3 13.4 11.0 21.5

Inner Mongolia 1.0 0.8 30.7 12.9 10.0 30.1

Guangxi 1.4 0.9 51.2 11.7 8.9 31.3

Yunnan 1.0 0.6 58.9 9.7 8.2 18.4

Sha'anxi 0.8 0.6 38.4 8.9 4.9 80.4

Jilin 0.7 0.5 43.6 8.6 7.2 19.4

Beijing 0.7 0.7 4.4 7.7 6.6 17.2

Xinjiang 0.6 0.4 40.4 6.9 5.7 20.4

Gansu 0.6 0.4 62.3 6.4 5.8 10.4

Heilongjiang 0.5 0.3 60.3 5.0 4.3 17

Chongqing 0.5 0.4 14.4 4.8 4.5 6.3

Guizhou 0.4 0.2 54.6 3.4 3.4 0.0

Qinghai 0.1 0.1 19 1.3 1.1 10.1

Ningxia 0.0 0.0 34.7 0.4 0.3 14.6

Hainan 0.0 0.0 36 0.1 0.1 15.7


In million tonnes

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMjc3/China_steel_product_output_in_2009.html

S Korea inks eco protection and clean up deal with Mongolia

Yonhap reported that South Korea's Mine Reclamation Corporation has signed an environmental protection and clean up deal with Mongolia that could fuel bilateral business tie ups.

As per report, the MoU involves Mongolia's Ministry of Mineral Resources & Energy and a consortium of South Korean construction companies operating in Mongolia and could allow Korean businesses to be involved in proposed reclamation works at the Oyu Tolgoi and Tavan Tolgoi mines.

The two regions have vast deposits of coal and large scale development projects slated to take place in the near future threaten to cause soil and water contamination that Ulan Bator wants to prevent.

MIRECO said that the Mongolian government has announced a plan to inject USD 200 into preventative and reclamation efforts from 2010 through 2015 with funds coming from the sale of natural resources. The blueprint could fuel business opportunities for companies specializing in environmental protection.

Mr Lee Lee jae chief of MIRECO said that "MIRECO enjoys world class skills in land clean up and water purification." He added that this will allow the corporation and the other companies involved to resolve challenges facing the land locked country.

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMzUw/S_Korea_inks_eco_protection_and_clean_up_deal_with_Mongolia.html)

Shanghai Bank inks deal with China National Coal

China Knowledge reported that Shanghai Pudong Development Bank Co Ltd recently announced that it has signed a strategic cooperation agreement with China National Coal Group Co Ltd in Beijing and will provide it a credit line of CNY 15 billion.
The bank will also provide cooperate finance services including enterprise mergers and acquisitions, investment banking, off-shore business and cash management as well as personal finance services to support China National Coal's development.

The agreement, which not only provides credit but also strengthens cooperation in innovative financial services, marks a new stage in cooperation between China National Coal and the bank.

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMzQ5/Shanghai_Bank_inks_deal_with_China_National_Coal.html)

Coal exploitation threatens Qinghai Lake

It is reported that the rampant exploitation of coal resources in northwest China's Qinghai Province is destroying wetlands and posing grave threats to key tributaries that feed into the country's largest saltwater lake.

Companies began strip mining over 4,000 meters above sea level in the Qilian Mountains in 2002, even though none had been issued mining licenses by the government. The excavations mainly are concentrated in the two coal-reserve areas of Muli and Jiangcang in Tianjun and Gangcha counties which produce high quality coking coal.

So far, all the mining companies have been operating without proper licenses and environmental evaluations. In addition, numerous small-scale mines have received the implicit consent of local governments, which rely on taxes and fees from their operations for revenue.

As a glaring example of the devastation on the plateau grasslands, local strip mining has produced a canyon that is one kilometer long and 200 meters to 300 meters wide at Muli with the deepest part more than 100 meters below the surface.

In total, strip mining has taken up 60 kilometers in length and 20 meters in width in the province's mining areas and destroyed wetlands that serve as water heads of the Datong River a main tributary to the Yellow River as well as several other rivers that all flow into Qinghai Lake.

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMzQ4/Coal_exploitation_threatens_Qinghai_Lake.html)

L L Energy announces subcontract agreement for Ping Yi Coal mine operations

L&L Energy Inc a US coal operator serving China vast coal market announced that through its subsidiary, Baoxing Economic and Trade Co Ltd it has subcontracted the operation of the Ping Yi Coal Mine located in Pingguan Town in Guizhou Province of China.

Under a fixed fee of approximately USD 876,000 per year, payable either in cash or in L&L common shares, Baoxing is allowed to operate the Ping Yi coal mine facilities of 150,000 ton annual production. The agreement allows Baoxing to operate Ping Yi, to provide the necessary working capital and to collect the respective revenue, net profits and/or losses of Ping Yi.

Under the agreement, Baoxing is the exclusive provider of advisory and consultancy services to Ping Yi related to the Company's general business operations. Ping Yi's revenue, profit, or loss will be consolidated in L&L financial statements as a variable interest entity. L&L expects the agreement to generate approximate of USD 15 million revenues per year and using USD 100 per ton coal price as a basis.

Ping Yi a profitable coal mine with annual 150,000 tonnes of coal production and 31 million tons of proven coal reserves has been in operation since 2007. Ping Yi is expanding its existing coal production capacity to 300,000 tonnes annually. Under terms of the agreement, Ping Yi has granted Baoxing an option to acquire Ping Yi's equity interests. The agreement covers a period of two years starting from November 1st 2009 and can be extended by mutual consent.

Mr Dickson Lee President & CEO of L&L stated that "We're confident that Boaxing's subcontract of Ping Yi will be valuable to L&L growth. This new development will extend more opportunities to us in the region.

http://www.steelguru.com/news/index/2010/01/27/MTMwMzQ3/L_L_Energy_announces_subcontract_agreement_for_Ping_Yi_Coal_mine_operations.html

Kogi indigenes to gain from coal exploration

It is reported that Western Gold fields Group Limited a mining company has assured indigenes of Omalar, Dekina and Ankpa Local government of Kogi of adequate compensation for exploring coal in their land.

Mr Innocent Ezuma MD & CEO of the company gave the assurance at the two day Environmental Impact Assessment Public forum held on Sunday in Lokoja that “Mining is very human resource intensive; there is no way we can do mining without extensively engaging the host communities.”

Ms Ache Idachaba CEO of Greennovative Chain, a Non Governmental Organization noted that exploration and mining has adverse effect to the environment. She urged the company to ensure that adequate measures were in place to explore and mine in an environmental friendly way.

Ms Idachaba said “Your effort should gear towards developing the environment, the exploration and mining should be done in an environmentally friendly way.”

(Sourced from http://www.steelguru.com/news/index/2010/01/27/MTMwMzQ2/Kogi_indigenes_to_gain_from_coal_exploration.html)

Larsen & Toubro takes part in ELECRAMA 2010

Larsen & Toubro Limited has showcased its wide array of electrical products, systems and solutions at ELECRAMA 2010 in Mumbai. L&T’s theme of integrated solutions was exemplified with a display of some of the latest and robust electrical & automation products, live demonstration of

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Grasim Industries announces Q3 results

Grasim Industries Limited, an Aditya Birla Group company, has announced its results for the third quarter ended December 31st 2009. Higher volumes and lower input prices have been the key growth drivers.

The company’s net revenue was higher by 5% at INR 4,844 crore. PBIDT was higher

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Citigroup rates JSW Steel with a Buy and Medium Risk rating

Citigroup rates JSW Steel with a Buy & Medium Risk rating based on the positive Indian steel outlook, strong volume growth and less balance sheet stress.

JSW Steel’s adjusted PAT for Q3 2010 was INR 410 crore higher than expectations, driven by 100% YoY jump in volumes a better mix

Sourse: More Info

Slowdown signs - Indian box traffic drops 2pct

It is reported that India's container throughput fell 1.5% during the April to December 2009 period compared to a year ago indicating a slower pace in the decline of box movements amid a gradual recovery in the country's foreign trade.

India's exports were up 9.4% in December over

Sourse: More Info

Sunday, January 24, 2010

Bharat Forge Q3 net profit at INR 38 crore

FE reported that auto parts maker Bharat Forge posted net profit of INR 37.99 crore for the Q3 ended December 31st 2009. It stood at INR 4.35 crore for the corresponding period last fiscal.

The firm has adopted a new provision for accounting, which is related to effects of the foreign exchange rate during the quarter. Therefore, the results are not comparable with that of the year ago period.

Bharat Forge said in a filing to the Bombay Stock Exchange that Income from operations stood at INR 507.81 crore for the latest quarter, while the same was at INR 453.05 crore for the same period previous fiscal.

Mr BN Kalyani chairman & MD of Bharat Forge said that the performance will further gain momentum going forward with the ramp up in the non auto capacity, revival in the export market and turnaround of our overseas subsidiaries.

For the 9 months ended December 31st 2009, the company reported a net profit of INR 65.78 crore while the same was at INR 42.16 crore for the corresponding period last fiscal.

(Sourced from http://www.steelguru.com/news/index/2010/01/25/MTMwMDEy/Bharat_Forge_Q3_net_profit_at_INR_38_crore.html)

Drydocks World subsidiary secures vessel building contract

Gulf News reported that a subsidiary of Dubai based Drydocks World has signed a contract to build a large offshore construction vessel for Scottish Highland International, part of Coastline Maritime.



Drydocks said in a statement that Southeast Asia Private Limited which operates four

Sourse: More Info

CTCI Corporation to manage EPC work for chemical plant in Saudi

It is reported that Taiwan based CTCI Corporation has been awarded a contract by Saudi Kayan to manage the construction of 210,000 tonne per year amines plant at its mega complex in Saudi Arabia.



The source said that under the deal, CTCI will manage the engineering, procurement and

Sourse: More Info

CTCI Corporation to manage EPC work for chemical plant in Saudi

It is reported that Taiwan based CTCI Corporation has been awarded a contract by Saudi Kayan to manage the construction of 210,000 tonne per year amines plant at its mega complex in Saudi Arabia.



The source said that under the deal, CTCI will manage the engineering, procurement and

Sourse: More Info

CTCI Corporation to manage EPC work for chemical plant in Saudi

It is reported that Taiwan based CTCI Corporation has been awarded a contract by Saudi Kayan to manage the construction of 210,000 tonne per year amines plant at its mega complex in Saudi Arabia.



The source said that under the deal, CTCI will manage the engineering, procurement and

Sourse: More Info

CTCI Corporation to manage EPC work for chemical plant in Saudi

It is reported that Taiwan based CTCI Corporation has been awarded a contract by Saudi Kayan to manage the construction of 210,000 tonne per year amines plant at its mega complex in Saudi Arabia.



The source said that under the deal, CTCI will manage the engineering, procurement and

Sourse: More Info

CTCI Corporation to manage EPC work for chemical plant in Saudi

It is reported that Taiwan based CTCI Corporation has been awarded a contract by Saudi Kayan to manage the construction of 210,000 tonne per year amines plant at its mega complex in Saudi Arabia.



The source said that under the deal, CTCI will manage the engineering, procurement and

Sourse: More Info

Port workers panel signs 5 year wage settlement pact

A bipartite wage negotiation committee constituted by the Ministry of Shipping, under the chairmanship of Mr SS Hussain chairman of Indian Ports Association signed 5 year wage settlement with 23% hike which is expected to benefit nearly 70,000 different category employees of 12 major ports across the country.

The agreement was signed by seven of the 12 members of the 5 federations, representing the workers while 5 members of BWNC, led by Mr PM Mohammed Haneef general secretary of All India Port & Dock Workers Federation declined to sign the agreement as they did not agree over the clauses regarding promotional benefits.

In the absence of the Mr SR Kulkarni President of HMS the protest over the signing of the agreement was spearheaded by Mr Hanif, who later told presspersons that they would take up the matter with the Labour Department.

Mr Hussain said that the Class III and Class IV employees of the port and dock workers of the 12 major ports will get the benefits of the revision of their wages, allowances and other remunerations with effect from January 1st 2007. The wage settlement is for a period of 5 years commencing from January 1st 2007 to December 31st 2011. The additional aggregate financial implication of the wage hike for the 12 major ports would be around INR 450 crore an annum.

As a result of the settlement, the port and dock employees will get a fitment benefit of 23% on the basic pay as on December 31st 2006 and variable dearness allowance up to AICPI 2884 points base year of 1960.

Mr SS Hussain said that the arrears on account of the revision of wages, allowances and other remuneration shall be paid retrospectively from January 1st 2007 and disbursed within 2 months of signing of the settlement. The port employees shall also get the benefit of port allowance, transport reimbursement, children's education allowance, reimbursement of tuition fees reimbursement of washing allowance and night weightage, etc. The employees are assured of career progression and completion of 10 years as against 12 years.

(Sourced from http://www.steelguru.com/news/index/2010/01/25/MTMwMDEw/Port_workers_panel_signs_5_year_wage_settlement_pact.html)

BNPP and Audi Bank eye participation in Suez Steel loan

BNP PARIBAS and Audi Bank are considering participating in EGP 2.6 billion loan for Suez Steel Company which is managed by Banque Du Caire by USD 100 million each.



Moreover, Arab Investment Bank BOD approved to participate by investing EGP 100 million with a tranche in USD.

Sourse: More Info

Turkey in negotiations with Qatar for gas pipeline

It is reported that Turkey is in negotiations to discuss the development of one of the world's largest gas pipeline projects, which will carry Qatari gas to the Mediterranean Sea.



Mr Recep Tayyip Erdogan PM of Turkey told the third World Future Energy Summit that the project was part of

Sourse: More Info

Friday, January 22, 2010

Narrow HR plate price remains flat on major places

PLTS
GR A
8x1250


Location Change

Chennai 0

Kanpur 0

Mumbai 0

Rudrapur 0


Change is on 22nd January as compared to 21st January 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.steelprices-india.com)

Steel joist (Beam) prices scenario in major places

JSTI
GR A
250X125


Location Change

Ahmedabad -208

Bangalore 0

Chennai 0

Delhi 0

Indore -300

Kanpur 0

Kolkata -832

Mandi 0

Mumbai -450

Raipur -832

Rudrapur 0


Change is on 22nd January as compared to 21st January 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.steelprices-india.com

GC (HDG) price remains flat on Jan 22

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana 0

Mumbai 0

Rudrapur 0


Change is on 22nd January as compared to 21st January 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.steelprices-india.com)

Steel light channel prices update on Jan 22

CHNL
GR A
75/100


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore -600

Kanpur 0

Kolkata -728

Mandi 0

Mumbai -450

Raipur -520

Rudrapur 0


Change is on 22nd January as compared to 21st January 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.steelprices-india.com

Pencil ingot prices go down in major places on Jan 22

Pencil ingot


Location Change

Ahmedabad 0

Bhiwari 0

Durgapur 0

Ghaziabad 0

Hyderabad 0

Jaipur -300

Jamshedpur 0

Kanpur 0

Kolkata -277

Mandi -92

Mumbai -400

Muzzafarnagar 0

Nagpur -277

Raigarh 0

Raipur -647

Rourkela 0

Rudrapur 0


Change is on 22nd January as compared to 21st January 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.steelprices-india.com)

TATA Power Q3 net profit up by 40pct YoY

TATA Power has posted a 40% YoY higher net profit at INR 141 crore for the third quarter of this fiscal, up from INR 101 crore in the same period last year, thanks to lower fuel expenditure and cheaper power from other sources.

The operating income was down by 12% YoY at INR 1,566 crore

Sourse: More Info

Adani Power registers its CDM project under UNFCCC

BS reported that Adani Power Limited has received certification of its super critical technology based upcoming project at Mundra from United Nations Framework Convention on Climate Change.

According to an official release from Adani Power Limited, it is the world's first project based on

Sourse: More Info

Ashok Leyland Alteams JV inaugurates new facility

BL reported that Hinduja group flagship firm Ashok Leyland and Finland based Alteams Group, under their JV Ashley Alteams India Private Limited, has inaugurated their manufacturing facility at Sozhavaram.

The new facility would meet Ashok Leyland's requirements for components for engines

Sourse: More Info

BHEL Q3 net rises 36pct

Bharat Heavy Electricals has announced the results for the quarter ended on December 31st 2009.

On standalone basis, its net profit stood at INR 10,725.9 million for the quarter ending on December 31st 2009 against INR 7,905.6 million for the quarter ending on December 31st 2008 registering

Sourse: More Info

CCEA approves Alstom Bharat Forge Ltd JVs

The Cabinet Committee on Economic Affairs gave its approval to the proposal of Alstom Power Holdings SA of France, Alstom Technology Limited of Switzerland and Alstom SA of France as recommended by FIPB.

The proposal is to establish two JV companies in India with Bharat Forge Limited and or
Sourse: More Info

Steel angle prices movement in India on Jan 22

ANGL
GR A
65X6


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore -600

Kanpur 0

Kolkata -728

Mandi 0

Mumbai -450

Raipur -520

Rudrapur 0


Change is on 22nd January as compared to 21st January 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.steelprices-india.com)

Thursday, January 21, 2010

Indian steel price index remains flat

The Indian Long Product Price Index ILPPI increased by 5 points whereas Indian Flat Product Price Index IFPPI down by4 points. The overall Indian Steel Price Index INDSPI remains flat.



Class 20-Jan 21-Jan Change %

ILPPI 6921 6926 5 0.1%

IFPPI 7462 7457 -4 -0.1%

INDSPI 7179 7179 0 0.0%


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

Long Products


Category 20-Jan 21-Jan Change %

PI - TMT 6667 6680 13 0.2%

PI - WRC 7461 7461 0 0.0%

PI - Angle 6543 6546 4 0.1%

PI - Channel 6576 6569 -7 -0.1%

PI - Joist 6019 6016 -3 -0.1%


PI - Product Index

Flat Products


Category 20-Jan 21-Jan Change %

PI - Narrow Plates 7150 7150 0 0.0%

PI - Wide Plates 7251 7251 0 0.0%

PI - Hot Rolled 7261 7253 -8 -0.1%

PI - Cold Rolled 8098 8098 0 0.0%

PI - Galvanized 8009 8009 0 0.0%


PI - Product Index

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

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

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

(Sourced from www.steelprices-india.com)

Narrow HR plate price remain flat

PLTS
GR A
8x1250


Location Change

Chennai 0

Kanpur 0

Mumbai 0

Rudrapur 0


Change is on 21st January as compared to 20th January 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.steelprices-india.com)

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 -104

Mumbai -113

Raipur 0

Rudrapur 0


Change is on 21st January as compared to 20th January 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.steelprices-india.com

Steel light channel prices update on Jan 21

CHNL
GR A
75/100


Location Change

Ahmedabad -169

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur -300

Kolkata 0

Mandi 208

Mumbai -113

Raipur 0

Rudrapur 0


Change is on 21st January as compared to 20th January 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.steelprices-india.com

Pencil ingot price movement in major places on Jan 21

Pencil ingot


Ahmedabad -300

Bhiwari 0

Durgapur 0

Ghaziabad 0

Hyderabad -2000

Jaipur 0

Jamshedpur 0

Kanpur -267

Kolkata 0

Mandi -185

Mumbai -100

Muzzafarnagar 0

Nagpur -277

Raigarh 277

Raipur 0

Rourkela 185

Rudrapur 0

Ahmedabad -300


Change is on 21st January as compared to 20th January 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.steelprices-india.com)

GIIC remarkable upswing in production during Q4 2009

Arab Steel reported that Gulf Industrial Investment Company witnessed a remarkable upswing in production during Q4 2009, exceeding 1.075 million tonnes of pellets which is 33% of the overall annual production.

According to data got from company sources, in addition, sales for the same

Sourse: More Info

Ezz to open Suez flat steel unit in February 2011

Mr Kamel Galal investor relations manager at Ezz Steel stated that Suez flat steel plant will be inaugurated in the end of next February 2011.

He added that the company will operate billet steel production line with 1.2 million tonnes production capacity.

According to Mr Galal,

Sourse: More Info

Downsizing deals - Strike ends as ArcelorMittal Annaba gives in

Reuters reported that 9 day strike at ArcelorMittal Annaba has ended after the company agreed to worker demands that it keep a coking plant open.

Mr Smain Kouadria union leader told Reuters that “We have decided to stop our strike after ArcelorMittal agreed to renovate the coking

Sourse: More Info

TVS Motor swings to profit in Q3

TVS Motor Company announced the results for the quarter ended on December 31st 2009.

On standalone basis, it has posted net profit INR 235.32 million for the quarter ending on December 31st 2009 against loss of INR 9.58 million for the quarter ending on December 31st 2008.

Its net sales


Sourse: More Info

Steel angle prices update on Jan 21

ANGL
GR A
65X6


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 312

Mumbai -113

Raipur 0

Rudrapur 0


Change is on 21st January as compared to 20th January 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.steelprices-india.com)

GS Auto International set up new unit at Jamshedpur

GS Auto International Limited a manufacturer of automotive suspension and fastening components, trailer axle and suspension parts has embarked an expansion plan with a CAPEX of INR 30 crores for establishing a new manufacturing unit at Adityapur Industrial Estate, Jamshedpur for the

Sourse: More Info

TVS Motor to mull price hikes in coming weeks

Reuters reported that TVS Motor Company Limited will consider increasing prices of its products in the near term to offset an increase in raw material costs, especially steel.

Mr HS Goindi president marketing of TVS Motor said that "We are looking at it. We are evaluating the complete


Sourse: More Info

Hyundai to hike car prices by up to INR 9000

PTI reported that Hyundai Motor India will hike prices of its products by up to INR 9,000 to offset rising input costs.

Mr Arvind Saxena director sales & marketing of HMIL said that the company will be increasing the prices across all models between 1% and 1.5%.

He said that the maximum

Sourse: More Info

Rishabh Digha Steel Board declares Interim Dividend of 10pct

Rishabh Digha Steel & Allied Products Limited has announced that the Board of Directors of the Company at its meeting held on January 19th 2010, inter alia, has Declared Interim Dividend for the year for the year ended March 31st 2010, INR 1 per share of INR 10 per each on 5,486,400 Equity

Sourse: More Info

Melting scrap price update on Jan 21

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad -500

Kandla 300

Kanpur 0

Kolkata 0

Mandi -185

Mumbai 0

Rudrapur 0


Change is on 21st January as compared to 20th January 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.steelprices-india.com)

NTPC tender to open on January 28 2010

PTI reported that state run NTPC would open the bulk tender worth INR 25,000 crore for sourcing power equipment on January 28th 2010.

A Power Ministry official said that the global tender was floated in October last year for procuring equipment for 11 supercritical units of 660 MW each.

Sourse: More Info

Wednesday, January 20, 2010

Narrow HR plate price remain flat on Jan 20

PLTS
GR A
8x1250


Location Change

Chennai 0

Kanpur 0

Mumbai 0

Rudrapur 0


Change is on 20th January as compared to 19th January 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.steelprices-india.com)

Pencil ingot price movement in major places on Jan 20

Pencil ingot


Location Change

Ahmedabad 0

Bhiwari 0

Durgapur -92

Ghaziabad 0

Hyderabad -1000

Jaipur 100

Jamshedpur 0

Kanpur -267

Kolkata 0

Mandi 185

Mumbai 400

Muzzafarnagar 0

Nagpur

Raigarh 277

Raipur -185

Rourkela -924

Rudrapur 0


Change is on 20th January as compared to 19th January 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.steelprices-india.com)

Indian steel price index reflects continued downward trend

The Indian Long Product Price Index ILPPI went down by 14 points whereas Indian Flat Product Price Index IFPPI decreased by 1 point. The overall Indian Steel Price Index INDSPI down by 8 points



Class 19-Jan 20-Jan Change %

ILPPI 6935 6921 -14 -0.2%

IFPPI 7463 7462 -1 0.0%

INDSPI 7186 7179 -8 -0.1%


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

Long Products


Category 19-Jan 20-Jan Change %

PI - TMT 6697 6667 -29 -0.4%

PI - WRC 7461 7461 0 0.0%

PI - Angle 6552 6543 -9 -0.1%

PI - Channel 6586 6576 -10 -0.2%

PI - Joist 6030 6019 -11 -0.2%


PI - Product Index

Flat Products


Category 19-Jan 20-Jan Change %

PI - Narrow Plates 7150 7150 0 0.0%

PI - Wide Plates 7256 7251 -4 -0.1%

PI - Hot Rolled 7270 7261 -8 -0.1%

PI - Cold Rolled 8085 8098 13 0.2%

PI - Galvanized 7996 8009 13 0.2%


PI - Product Index

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

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

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

(Sourced from www.steelprices-india.com)

Steel joist (Beam) prices scenario in major places

JSTI
GR A
250X125


Location Change

Ahmedabad -208

Bangalore 0

Chennai -500

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 208

Mumbai 450

Raipur -312

Rudrapur 0


Change is on 20th January as compared to 19th January 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.steelprices-india.com

Steel melting scrap price shown downfall in major places

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla 100

Kanpur -267

Kolkata 0

Mandi 185

Mumbai 200

Rudrapur 0


Change is on 20th January as compared to 19th January 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.steelprices-india.com)

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 20th January as compared to 19th January 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.steelprices-india.com)

CR price increase in Kanpur on Jan 20

CR
DSK
0.63


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Kanpur 444

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0


Change is on 20th January as compared to 19th January 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.steelprices-india.com)

L and T to invest INR 5000 crore in new factories in Gujarat

The Hindu Business cited Mr AM Naik CMD of Larsen & Toubro Limited as saying that the company to invest INR 5,000 crore on setting up seven new factories in Gujarat and another INR 2,000 crore at Chennai on a shipyard in the next 2 years.

Mr Naik said that in the next 5 years, L&T will be

Sourse: More Info

Rishabh Digha Steel Q3 net profit down by 22pct YoY

Rishabh Digha Steel & Allied Products has reported a steep drop in standalone net profit for the quarter ended December 2009.

During the quarter, the profit of the company declined by 22.75% YoY to INR 1.97 million from INR 2.55 million in the same quarter last year.

Net sales for the

Sourse: More Info

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