Steel light channel prices movement on Feb 28

CHNL GR A 75/100 Location Change Ahmedabad 0 Bangalore 0 Chennai 331 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai 0 Raipur 0 Rudrapur 0 Change is on 28th February as compared to 25th February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer...

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GC steel HDG price movement on Feb 28

GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Ludhiana 363 Mumbai 872 Rudrapur 0 Change is on 28th February as compared to 25th February 2011 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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India and Uruguay inks MoU for Renewable Energy

Union Minister for New and Renewable Dr Farooq Abdullah signed a MoU with his Uruguayan counterpart Roberto Kreimerman for cooperation in renewable energy. Dr Farooq Abdullah has assured Uruguay of India’s commitment for South-South cooperation in New and Renewable Energy matters. More I...

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Steel joist I Beam prices scenario in major places on Feb 17

JSTI GR A 250X125 Location Change Ahmedabad -104 Bangalore -500 Chennai 0 Delhi -2000 Indore 0 Kanpur 0 Kolkata 0 Mandi 208 Mumbai 229 Raipur 0 Rudrapur 0 Change is on 17th February as compared to 16th February 2011 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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Steel shipments from US and Canada service centers surge in Jan

The Metals Activity Report from the Metals Service Center Institute shows that shipments of steel from metals service centers in the United States and Canada surged in January 2011. Sequential, month end inventory levels also rose for both metals in both nations. Steel shipments from US More I...

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Kazakhstan issues January production results

According to the data released by the Republic of Kazakhstan Agency of Statistics, in January this year Kazakhstan registered increase of 41.7%YoY in its crude steel production and a 27.7%YoY growth in its production of flat rolled steel, rising to 413,083 tonnes and 271,795 tonnes More I...

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Sponge iron price movement on Feb 17

Sponge iron Location Change Bellary -400 Kolkata 300 Raigarh 300 Raipur 100 Rourkela 100 Change is on 17th February as compared to 16th February 2011 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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Baosteel pipe unit conducts environmental friendly operations

Last year, Baosteel Steel Pipe Business Unit developed a total of 8 new products. Green product sales reached 1.04 million tonnes up 20% over 2009. The ratio of green products reached 43% fulfilling the annual green manufacturing plan. Steel Pipe Business Unit focused on recycling of More I...

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Chinese plan for steel super firms seen floundering

Reuters reported that China is likely to fail in its drive for state owned steel giants to swallow small mills and create iron ore super buyers to wring better prices from leading sellers Vale, Rio Tinto and BHP Billiton as failure to get the three major iron ore suppliers to agree to price More I...

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Omanoil awards host of innovative prizes during draw of GRP

Oman Oil Marketing Company recently held the first draw of its latest Grand Retail Promotion entitled Fuel, Shop and Win during a prize giveaway ceremony at the Company’s Head Office in Mina Al Fahal. The Promotion has been met with genuine public interest and enthusiasm with more More I...

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Steel angle prices dips in Delhi and Bangalore on Feb 17

ANGL GR A 65X6 Location Change Ahmedabad 0 Bangalore -900 Chennai 0 Delhi -2000 Indore 0 Kanpur 0 Kolkata 0 Mandi 208 Mumbai 229 Raipur 0 Rudrapur 0 Change is on 17th February as compared to 16th February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer...

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OPEC ready to boost oil supply on demand - Mr Al Hamli

Bloomberg reported that the UAE is producing 2.2 million barrels per day within its OPEC quota. Mr Mohammed Al Hamli energy minister of UAE said that the UAE is producing 2.2 million barrels per day within its OPEC quota. The market is well supplied. Signs are coming and they are positive, More I...

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GP steel HDG price scenario on Feb 17

GP 100Gms 0.40 Location Change Mumbai 0 Chennai 0 Kolkata 0 Delhi -442 Ludhiana 272 Kanpur 0 Rudrapur 0 Bangalore 0 Change is on 17th February as compared to 16th February 2011 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 Feb 17

Pig iron Foundry Grade Location Change Agra 0 Jallandhar 0 Kolkata 0 Raipur 0 Change is on 17th February as compared to 16th February 2011 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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India and Japan signs Comprehensive Economic Partnership Agreement

Mr Anand Sharma union minister of commerce and industry and Japanese foreign minister, Mr Seiji Maehara signed the Comprehensive Economic Partnership Agreement between India and Japan. This Agreement is the most ambitious agreement signed by India so far and covers trade in goods, services More I...

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Decision on Cairn and Vedanta deal in 3 weeks

BS reported that government will take at least another 2 to 3 weeks to take a decision on the USD 9.6 billion Cairn Vedanta deal and it supports ONGC in its dispute with the British explorer over royalty obligations, the oil minister said, prolonging the drama surrounding the controversial More I...

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Macroeconomic indicators - Inflation to ease to 7pct by March - Mr Pranab

With marginal decline in rate of price rise in January, Mr Pranab Mukherjee finance minister expressed hope that the overall inflation will come down to 7% by March end. Mr Mukherjee said that "I am hoping that it (inflation) would be roughly around 7% (by March end). I hope so. But I More I...

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Good Luck Steel plans CR HDG plant at Bhachau

RTT News reported that Good Luck Steel Tubes Ltd is setting up a new green field continuous galvanizing plant of 1 million tonne per annum capacity to manufacture CR coils, GP/GC and color coated sheets at Bhachau near Kandla in Gujarat at a cost of INR 1200 crore. The plant will be More I...

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GE Shipping Q3 net up 24 pct

GE Shipping reported 24% increase in its consolidated net profit for the third quarter of the current fiscal at INR 117 crore. The company had recorded INR 94 crore net profit in the same quarter an year ago. The company said that revenue of the company, however, dipped to INR 644 crore More I...

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TATA Steel India 9 months result

Turnover at TATA Steel in India of INR 21,056 crores (USD 4.71 billion) in 9M FY’11 was up 19.1% from INR 17,683 crores (USD 3.96 billion) in 9M FY’10. Q3 FY’11 sales of INR 7,397 crores (USD 1.66 billion) were up 16% from the INR 6,375 crores (USD 1.43 billion) in Q3 More I...

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British Container Express to supply 800 containers to Lisky

It is reported that London based Container Express Ltd plans to supply 800 universal containers to the Lisky state transport service center which is part of state railways administration Ukrzaliznytsia. According to a report in the state procurements disclosure system, the proposal of the More I...

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Automaker Lifan Group to tap into property market

China Knowledge reported that Lifan Real Estate Co Ltd, a subsidiary of Lifan Group Corp, a Chongqing-based auto producer won the bid for a piece of land in Jiangbei, Chongqing Municipality for CNY 1.1 billion at the end of last year representing its entrance to the property market. As per More I...

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Chinese domestic CR steel price update on Feb 14

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 30 5 Changsha 0 0 Wuhan 20 3 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Shenyang 50 8 Harbin 100 15 Chongqing 0 0 Chengdu 0 0 Kunming 20 3 Xian 140 21 Lanzhou 50 8 Urumchi 100 15 Qingdao 0 0 Average 22 3 Change is on 14th February as compared to 11th February 2011 Change is per tonne USD:CNY = 6.59 To know exact prevailing steel prices in China...

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Handan CRNO steel sells well in East and West China

It is reported that in face of the tight situation in China steel market, Hebei Steel Group Handan Steel Company arranged high value added production according to market demand for gaining more profits. During January to February this year, Handan Steel signed nearly 12,000 tonnes of More I...

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Macroeconomic indicators - China replaces Japan as second largest GDP

A much anticipated milestone has been reached It is reported that China replaced Japan as the world second largest economy as Japanese nominal gross domestic product in 2010 rose just 1.8%YoY equivalent to USD 5.47 trillion bout 7% smaller than the USD 5.88 trillion China But the sum of More I...

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Chinese domestic steel beam price remain flat

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 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 Average 0 0 Change is on 14th February as compared to 11th February 2011 Change is per tonne USD:CNY = 6.59 To know exact prevailing steel prices in China on daily basis, subscribe to...

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Steel plate cuttings prices surges at Alang

Product Grade Size Change Plate cuttings Rolling 1" 300 Ship Scrap Melting Mixed 0 Change is on 14th February as compared to 11th February 2011 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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Patra Narrow HR steel strips price movement on Feb 14

Patra Location Change Delhi -177 Ludhiana -181 Mandi 0 Change is on 14th February as compared to 11th February 2011 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...

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Korean firms to build major gas plant in Saudi Arabia

Albawaba reported that two South Korean firms have won a combined USD 2.5 billion order from a Saudi state oil company to build a major gas plant in the kingdom. As per report, SK Engineering and Construction secured USD 1.9 billion order while Samsung Engineering secured USD 600 million More I...

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Steel scrap prices move down as Turkish buying cools

Scrap steel prices have fallen from a high of USD 520 per tonne to USD 440 per tonne. The market now presents some anxious moments to buyers as they fear a repeat of 2008 may occur with prices reaching a peak point and thereafter crashing. Many analysts believe that the prices may hit a More I...

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Patel Engineering Q3 profit plunges

Patel Engineering Ltd has announced the financial results for the Quarter ended December 31st 2010. As per report the company has reported Net Sales / Income from Operations of INR 434.59 crores for the quarter ended December 31st 2010 against INR 633.01 crores for the quarter ended More I...

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IVRCL Infra Q3 earnings rise marginally

IVRCL Infrastructures & Projects has announced a marginal rise of 0.85% YoY in the net profit for the quarter ended December 31st 2010 to INR 422.89 million. During the quarter, total income has increased 14.48% YoY to INR 14.18 More I...

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Hindustan Dorr-Oliver Q3 PAT at INR 15 crores

Hindustan Dorr-Oliver Ltd has announced the Financial Results for the Quarter ended December 31st 2010. The company has reported Net Sales / Income from Operations of INR 253.09 crores for the quarter ended December 31st 2010 against INR 210.26 crores for the quarter ended December 31st More I...

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Toshiba and NTPC to work on carbon emissions

A Toshiba official said that NTPC Ltd is in talks with Toshiba Corp to build a pilot project in India to capture and store carbon emissions. Mr Kenji Urai MD of Toshiba India Private Ltd said that it aims to develop its first 5 MW carbon capture plant in India by 2016. The project may More I...

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BHEL bags USD 436 million contract for power project in Yemen

State owned BHEL said that it has bagged an USD 436 million contract for setting up a gas based power project in Yemen. BHEL in a statement said that "BHEL has received an order for a Gas Turbine-based power plant from Yemen. The USD 436 million contract is for the Marib Gas-Based Power More I...

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Countdown begins for mega conference on steel - Register Now

Only 30 days are left for the mega steel conference……. Industry experts from Brazil, Russia, India and China (BRIC) would dwell in depth on the demand drivers as well as the likely scenario. It would help you to understand the dynamics underlining the pricing dynamics in Indian More I...

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FTC to consider steel merger status on international stage

The Yomiuri Shimbun reported that although a planned merger between two major Japanese steelmakers would leave them holding the lion's share of the domestic market, the Fair Trade Commission will also consider the new firm's status on the international stage when deciding whether the tie up More I...

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Ann Joo Resources expects to sustain operational costs - MD

It is reported that Ann Joo Resources Bhd, the largest steel firm in Malaysia by market capitalization, expects to sustain operational costs in the short term despite rising coal prices. Mr Datuk Lim Hong Thye MD of Ann Joo Resources Bhd said that however, over the long term, the group and More I...

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GM AVTOVAZ suspends production for several days

Itar-Tass reported that Russia GM-AVTOVAZ car manufacturer in Togliatti suspends production because of undersupply of car components. The plant will be closed on Thursday as well as on February 11 and 14. Workers will receive compensations in the amount of two thirds of their average More I...

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Breakdown at Enakievo disrupted steel production for a week

It is reported that the breakdown happened in the converter workshop of Enakievo Steelworks at the beginning of the week. It brought to a complete standstill the steelmaking facilities and reduced to the minimum the operations of the blast furnaces. The plant is to resume normal operations More I...

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Angang sales of value added steel increases

It is reported that sales of steel for household appliances, shipbuilding and container listed top one among domestic producers with steel for automobiles listed second. Sales of special materials of Angang in 2010 took up by 80.28% and 6% with sales of leading products increased by More I...

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Baosteel sales of HR products in 2010 exceeds the annual plan

Last year, faced with intense market competition in the hot rolled varieties Baosteel Co Ltd hot rolling production, sales and research team collaborated with others and accomplished 106% of the annual sales plan. Among them, the sales of exclusive and leading products covers 123% and 109% More I...

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Wind power farm to be set up in Thatta in Pakistan

Dawn reported that Mr Qaim Ali Shah CM of Sindh gave away the land allotment documents to the representative of Iran and Pakistan Wind Power Limited for setting up 50 MW wind power project. Mr Abbas Ali Abdollahi Consul General of Iran received the land documents from the chief minister on More I...

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Macroeconomic indicators - Industrial investment in UAE in 2010

Industrial investment in the UAE gained pace through 2010 to swell to an all time high of around AED 83 billion despite slackening credit following the 2008 global fiscal crisis. According to official data, the investments were around 2.4% above their level at the end of 2009 and nearly More I...

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India Cements December quarter sales dips

India Cements, the southern cement major has registered 38% fall in net profit to INR 21.47 crore for the quarter on a sale of INR 783.50 crore, a fall of 11%. Though the de growth in bottom line was steeper than expected the company has moved back to black after a disastrous second quarter More I...

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SCI orders two AHTSVs from Cochin Shipyard

The Shipping Corporation of India Ltd has placed orders for two Anchor Handling, Towing and Supply Vessels with Cochin Shipyard Ltd. SCI is committed to the development of the shipbuilding industry in India and hence selected Cochin Shipyard for building these vessels, stressed a company More I...

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Macroeconomic indicators - ASSOCHAM reaction on IIP

ASSOCHAM has stated that this performance can be attributed to the fragility of present industrial activity in the country. Indian industry has been facing hyper inflation conditions for over a year. The rising input prices have eroded the profit margins and thereby reduced the incentives for More I...

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Monday Market Monitor - India - WEEK 6 - Longs in reverse while flats in top gear

The trend for long and flat products was diagonally opposite last week, off course on expected lines. While long products lost almost 1.5% flats continued gains by another 1.2% In case of rebar, the trend was different for larger players and smaller ones. As a result of frenzied buying by More I...

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Steel 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 10th February as compared to 9th February 2011 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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Continental Nickel updates on Nachingwea Nickel Project

Continental Nickel Limited announced that it has received the final assay results from the remaining six diamond drill holes of its recently completed seven hole Phase II diamond drilling program at the newly discovered Sleeping Giant zone on the Nachingwea Project in Tanzania. The project More I...

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Hyundai Motor unveils new unique vehicle Veloster

Yonhap reported that Hyundai Motor Co, South Korea's top automaker, has unveiled the specifications of its new premium unique vehicle, the Veloster, ahead of its official launch later this year. The new vehicle truly is one of a kind as it comes with uneven side doors, one for the driver More I...

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Japanese steel wire export figure for December

Japan Iron & Steel Federation has announced exports figures of steel wire export to different countries in December 2010. According to JISF data, Japan exported 22,959 tonnes of steel wire in December 2010, up by 127.3% MoM. China tops the list with 5,611 tonnes of steel wire, up by 130.5% More I...

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Steel Tube Holdings announces H1 2011 results

Steel & Tube Holdings Limited has announced 2011 half year results. The consolidated interim financial statements have been prepared in accordance with, and comply with, NZIAS34 and IAS 34 Interim Financial Reporting and New Zealand Generally Accepted Accounting Practice. The directors More I...

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Wide steel plate price movement on Feb 10

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 10th February as compared to 9th February 2011 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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Roofings gets USD 25 million loan from IFC to fund expansion

It is reported that the International Finance Cooperation has extended USD 25 million loan to Roofings Rolling Mills as the firm pushes to complete its three phase project at the Namanve Industrial Park in Uganda. The loan is expected to finance the company’s expansion in the next two More I...

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Essar Steel Algoma Q 4 loss widen YoY

Essar Steel Algoma reported a net loss of CAD 194.9 million for the quarter ended December 31st 2010. For the comparable quarter ended December 31st 2009 the net loss was USD 63.3 million. The company also reported an EBITDA of negative CAD 155.7 million for the quarter compared to an More I...

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Chinese domestic galvanized steel HDG price remain flat

HDG 0.5mm Location In CNY In USD Shanghai 0 0 Hangzhou 250 38 Fuzhou 50 8 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 21 3 Change is on 10th February as compared to 9th February 2011 Change is per tonne USD:CNY = 6.59 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...

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Russia re imposes increased AD duties on steel pipes from Ukraine

It is reported that the Russian federal government has reimposed increased antidumping duties on imports of casing, tubing, oil and gas and general purpose hot deformed steel pipes with diameter up to 820 mm, originating from Ukraine for a period of five years. The decision No 41 dated More I...

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HR steel prices update on Feb 10

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 0 Ludhiana 91 Mumbai 0 Change is on 10th February as compared to 9th February 2011 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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Jiangling Motors sales up by 40pct in Jan

China Business News reported that Jiangling Motors Corporation posted a 40%YoY increase in auto sales to 21,000 units in January. The company produced 15,000 autos in January up by 36.4%YoY. Jiangling Motor recorded auto sales volume of 15,000 units and auto production volume of 11,000 More I...

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Inner Mongolia to add 3 GW wind power capacity in 2011

China Knowledge quoted the region Development and Reform Commission said the Inner Mongolia Autonomous Region plans to add 3.5 GW in installed wind power capacity this year. Sources reported that most of the new wind power plants will be built in the western and eastern area of Inner More I...

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GP steel HDG price scenario on Feb 10

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 10th February as compared to 9th February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html (Sourced...

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Steel angle prices update on Feb 10

ANGL GR A 65X6 Location Change Ahmedabad -115 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi -208 Mumbai -115 Raipur 0 Rudrapur 0 Change is on 10th February as compared to 9th February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer...

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CR steel prices remain flat on Feb 10

CR DSK 0.63 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Mumbai 0 Pune 0 Rudrapur 0 Change is on 10th February as compared to 9th February 2011 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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Freight charges are the focus for Chinese steelmakers

Economic Observer Newspaper reported that the focus of iron ore negotiations between Chinese steelmakers and global iron ore producers this year will shift to freight price stabilization to keep steelmakers' costs low. The report said China steel mills and its steel lobby body, the China More I...

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Phase II of Darkhovin oilfield inaugurated

Tehran Times reported that the second development phase of Darkhovin oilfield in southwest Iran officially came on stream. The oilfield’s Phase II came on stream at the cost of USD 1.3 billion and will increase the field’s production capacity from 50,000 barrels per day to More I...

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Strikes break out in Egypt

Thousands of workers went on strike across Egypt adding a new dimension to the uprising. For the first time, protesters were forcefully urging labor strikes despite a warning by VP Mr Omar Suleiman that calls for civil disobedience were dangerous. The strikes broke out across Egypt as More I...

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MNRE Launches DIREC Report

As a follow up to the successful Delhi International Renewable Energy Conference 2010, the Ministry of New and Renewable Energy has announced the launch of the DIREC Report. The DIREC Report is a comprehensive overview of the three day Conference held in October, 2010 which focused on Up More I...

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ABG Shipyard December quarter net down by 35pct

Leading private ship building company ABG Shipyard reported a decline of 35.04% in its net profit for the quarter ended December 31st 2010 at INR 53.45 crore. The company had posted a net profit of INR 82.29 crore during the corresponding quarter of the 2009-10. The company in a statement More I...

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POSCO war zone - Utkal Chamber welcome MoEF decision

The Utkal Chamber of Commerce and Industry Limited has welcomed the decision of the Union Ministry of Environment and Forests in connection with the establishment of the POSCO project near Paradip. However, the UCCI has strongly resented the unreasonable decision taken by the Ministry of More I...

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Drill pipe and drill collars from China threatens US industry

The United States International Trade Commission determined that a US industry is threatened with material injury by reason of imports of drill pipe and drill collars from China that the US Department of Commerce has determined are subsidized and sold in the United States at less than fair More I...

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No emergency meeting for OPEC - Mr Mir Kazemi

Press TV cited Mr Massoud Mir Kazemi oil minister of Iran who is also the OPEC president this year as saying that the organization's member states have not requested an emergency meeting so far. He saw no need for an emergency meeting. The popular uprising in Egypt caused oil prices to More I...

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ArcelorMittal Annaba to restart coke batteries - Report

Arab Steel reported that ArcelorMittal Annaba is expected to invest around USD 686 million to modernize the El Hadjar steelworks. The main investments include restarting the plant’s coke batteries which stopped working at the end of 2009, as well as improvements to blast furnace More I...

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Hisar Metal Industries announces Q3 result

Hisar Metal Industries Ltd has announced the Financial Results for the Quarter ended December 31st 2010. The company has reported Net Sales / Income from Operations of INR 41.07 crores for the quarter ended December 31st 2010 against INR 41.26 crores for the quarter ended December 31st More I...

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Mr Mittal regrets slow progress on Indian steel projects

Indian Express reported that peeved at slow progress of its Indian steel projects, ArcelorMittal CEO Mr LN Mittal regretted that none of the company’s projects could reach even a stage like POSCO, which secured environmental nod recently for its USD 12 billion plant in Orissa. Mr More I...

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Lanco Infra not bidding for Hancock coal mines

Lanco Infratech is readying to take over operations Australian Griffen Coal mines in March, but will not bid for the coal mine assets of Hancock Prospecting. Mr J Suresh Kumar Group CFO told Reuters in an interview that "Not very excited about it (Hancock)... (it's) such a large More I...

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Koks IPO suspension may sour market for other firms

RIA Novosti reported that the decision by Russian pig iron and coking coal firm Koks to suspend its London IPO may be a signal for other local companies preparing flotation to curb their appetite Recently, Koks said it had postponed its USD 500 million IPO in London, where it wanted to sell More I...

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African Aura inks JV with Severstal for Putu iron ore resource base

It revealed that the resource base of African Aura Mining's Putu iron ore project in Liberia had more than doubled to 2.4 billion tonnes. In doing so it cements AAAM's JV with Severstal which needed the resource to be above 2 billion tonnes to be viable. There is the chance Putu is far More I...

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CR steel prices jumps in Bangalore

CR DSK 0.63 Location Change Ahmedabad 0 Bangalore 1360 Chennai 0 Delhi 885 Kanpur 0 Kolkata 0 Mumbai 453 Pune 453 Rudrapur 0 Change is on 8th February as compared to 7th February 2011 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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Indian Aluminum futures marginally down

ET reported that Indian aluminum traded 0.13% lower in futures trade after speculators offloaded their positions, taking weak cues from global markets. At the Multi Commodity Exchange, aluminum for delivery in March traded 20 paise or 0.13% lower to INR 115.95 per kilogram with a business More I...

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Nissan Copper announces Q3 of FY 2010 to 2011

Nissan Copper Limited India’s leading player in the secondary copper segment in Maharashtra, Gujarat and Eastern Region of India has announced their financial results for the Q3 of the FY 2010 to 2011 ended December 31st 2010. They posted a 75% increase in their consolidated Income from More I...

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Ferro tungsten hits record high on supply

Reuters reported that Ferro tungsten prices hit a record high and could rise further on supply constraints from top producer China and recovering demand as consumers replenish depleted stocks. Prices of ferrotungsten used in steel to make heavy equipment like industrial drills rose to USD More I...

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GC steel HDG prices up in Ludhiana on Feb 8

GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Ludhiana 816 Mumbai 0 Rudrapur 0 Change is on 8th February as compared to 7th February 2011 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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Cuban nickel output bounces back in January - Report

Reuters reported that Cuba's production of unrefined nickel plus cobalt bounced back in January 2011, after perhaps the industry's worst performance in a decade in 2010 when, Reuters estimated, output fell to well below 70,000 tonnes. Mr Alberto Panton Graham general director of state More I...

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Nippon Steel and Sumitomo Metals to seek antimonopoly review

JMB reported that Nippon Steel and Sumitomo Metal Industries submit merger plan soon based on anti monopoly low to Japan Fair Trade Commission. The commission will review the plan for 30 days after the acceptance. The commission would seek additional information from the companies. The More I...

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Steel Dynamics wins Export Achievement Certificate from US DOC

It is reported that Mr Ro Khanna deputy assistant secretary at US Department of Commerce has awarded the Export Achievement Certificate to Steel Dynamics CEO Mr Keith Busse. He said that "If others followed the lead of Fort Wayne based Steel Dynamics Inc; US President Mr Obama's goal of More I...

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CR steel prices jumps in Bangalore

CR DSK 0.63 Location Change Ahmedabad 0 Bangalore 1360 Chennai 0 Delhi 885 Kanpur 0 Kolkata 0 Mumbai 453 Pune 453 Rudrapur 0 Change is on 8th February as compared to 7th February 2011 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 Dynamics wins Export Achievement Certificate from US DOC

It is reported that Mr Ro Khanna deputy assistant secretary at US Department of Commerce has awarded the Export Achievement Certificate to Steel Dynamics CEO Mr Keith Busse. He said that "If others followed the lead of Fort Wayne based Steel Dynamics Inc; US President Mr Obama's goal of More I...

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GC steel HDG prices up in Ludhiana on Feb 8

GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Ludhiana 816 Mumbai 0 Rudrapur 0 Change is on 8th February as compared to 7th February 2011 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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Executive criticizes introduction of petroleum product duties

Ukrainian Journal citing Mr Vladyslav Rusnak Rompetrol-Ukraine Ltd Director General the introduction of duties for imported petroleum products in Ukraine will not solve the current problems in the oil refining sector. He said that "The duty for imports would only freeze the existing More I...

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Update on investment program - Mr Syry CEO of Metinvest

In the middle of January, Metinvest adopted a new Investment Program having announced that this year the Group’s investments will increase 2.4 times, to reach USD 1.18 billion. Mr Igor Syry the Group’s CEO has shared the highlights of the new Strategy, including what these funds More I...

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BDI upward trend continues on February 8

It is reported that on February 8th 2011, Baltic Dry Index reached 1064 points, up by 19 points as compared to February 7th 2011. Capsize  BCI Change INDEX 1289 +8 SPOT 4 TCE AVG 5059 +82 February 7th 2011 4977 Year Ago 32322 All except INDEX in USD Change is with respect to numbers on February 7th 2011 Panamax  BPI Change INDEX 1464 +69 SPOT 4 TCE AVG 11718 +558 February 7th 2011 11160 Year Ago 25178 All except INDEX in USD Change is with respect to numbers on February 7th 2011 Supramax  BSI Change INDEX...

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SHFE rebar reflects buoyant mood in China on opening

Shanghai steel rebar futures edged up to a record as Chinese markets reopened after a week-long Lunar New Year holiday. The most active rebar contract for October delivery was up 0.3% at CNY 5,140 per tonne by 0106 GMT, after touching an all time top of CNY 5,150 earlier. More I...

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PPP projects in Egypt face delays but are not cancelled

MEED reported that Egypt’s PPP Central Unit tenders for its upcoming public private partnership projects will continue but on a revised schedule. Mr Rania Zayed director of the PPP Central Unit said that the projects scheduled to be issued in 2011 include the Alexandria hospitals More I...

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SCI December quarter profit up by 40pct

The Shipping Corporation of India reported a 40.7% jump in its net profit for the quarter ended December 2010, at INR 123.06 crore. The company had posted a net profit of INR 87.4 crore during the same period of 2009-10. SCI's net sales were up by 5.14% at INR 888.9 crore during the More I...

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Bajaj Hindusthan December quarter profit at INR 57 crores

Bajaj Hindusthan Ltd has announced the financial results for the Quarter ended December 31st 2010. The company has reported Net Sales / Income from Operations of INR 1475.66 crores for the quarter ended December 31st 2010. The Net Profit / (Loss) was at INR 57.86 crores for the quarter More I...

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RINL lays the first refractory brick of expansion

Mr PK Bishnoi CMD of RINL/VSP laid the first refractory brick to start the special type of lining work of the vertical shaft kilns at Calcining & Refractory Materials Plant of Visakhapatnam Steel Plant under its 6.3 million tonne per annum expansion program. The new CRMP will be one of the More I...

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Oil supply and demand balanced - Mr Khatibi

Tehran Times cited Mr Mohammad Ali Khatibi the Iranian representative to the Organization of Petroleum Exporting Countries as saying that oil supply and demand in international markets is balanced despite the tension in Egypt. MrAli Khatibi said that if a shortage occurs in demand, OPEC More I...

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Monday Market Monitor - Middle East - WEEK 5 - Buyers go in cautious mode

The steel players in Middle East adopted a cautious approach on news of softening of scrap, billets and rebar prices in Turkey as well as Black Sea. The Middle East Long Product Price Index MLPPI remained stable last week whereas the Middle East Flat Products Index MFPPI is went up by 4 More I...

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Pig iron prices remain flat at major places on Feb 7

Pig iron Foundry Grade Location Change Agra 0 Jallandhar 0 Kolkata 0 Raipur 0 Change is on 7th February as compared to 4th February 2011 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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Cummins India Q3 profit up by 6pct

Cummins India one of the leading manufacturers of diesel engines, has posted a decline of 6.66% in the net profit for the quarter ended December 31st 2010. The company has posted a net profit of INR 1,389 million for the quarter ended December 31st 2010 as compared to INR 1,481.60 million More I...

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Madhucon Projects profit climbs by 5pct

Madhucon Projects announced a small rise in standalone net profit for the quarter ended December 2010. During the quarter, the profit of the company rose 5.67% to INR 115.02 million from INR 108.84 million in the same quarter previous year. The company’s net sales for the quarter More I...

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JSW Steel January crude steel production up 9pct

JSW Steel reported 9% increase in its crude steel production in January to 580,000 tonnes from 533,000 tonnes a year earlier. The Sajjan Jindal led firm's flat rolled products' output increased by 39% to 462,000 tonnes during the month from 334,000 tonnes in the same month last year. More I...

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Steel angle prices movement on Feb 7

ANGL GR A 65X6 Location Change Ahmedabad -344 Bangalore -800 Chennai 0 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi -416 Mumbai -344 Raipur -520 Rudrapur 0 Change is on 7th February as compared to 4th February 2011 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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HR steel prices movement on Feb 7

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 272 Ludhiana 544 Mumbai 0 Change is on 7th February as compared to 4th February 2011 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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Interpipe passes qualification audit of SKF Group of Sweden

Interpipe NTRP has passed the qualification audit of the Swedish company, the SKF Group, the largest world producer of bearings, compressions, oiling systems and mechatronics. During the audit at Interpipe NTRP the representatives of the SKF company evaluated the correspondence of the More I...

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Interpipe passes qualification audit of SKF Group of Sweden

Interpipe NTRP has passed the qualification audit of the Swedish company, the SKF Group, the largest world producer of bearings, compressions, oiling systems and mechatronics. During the audit at Interpipe NTRP the representatives of the SKF company evaluated the correspondence of the More I...

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Baosteel automobile steel sales in 2010 up by 30pct

Last year faced with the ups and downs in the automotive industry and the competitive market situation of automobile steel sheets, Baosteel automobile steel sheet sales increased 30% over same period last year, reaching an all time high, exceeding the increase of domestic car sales throughout More I...

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Thar coal water carrier scheme approved by CDWP

Business Recorder reported that considering that the most critical infrastructure project is the supply of fresh water to Thar coal fields, the Central Development Working Party at its meeting held in Islamabad on January 21 approved a scheme for Thar coal water carrier at a cost of PKR 27 More I...

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Bahrain asks to be excluded from Saudi steel export ban

Arab Steel reported that CEO of Bahrain Trade and Industry Chamber asked for the need to exclude his country from the steel export ban decision since Bahrain is the little brother for the Kingdom of Saudi Arabia pointing out that the Bahraini side will send an official statement including this More I...

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Bharat Gears Q3 net profit up

Bharat Gears Ltd has announced the Financial Results for the Quarter ended December 31st 2010. The company has reported Net Sales / Income from Operations of INR 84.42 crores for the quarter ended December 31st 2010 against INR 63.11 crores for the quarter ended December 31st 2009. The More I...

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Mercator Lines to invest on coal mine in Indonesia

Mercator Lines, the HK Mittal controlled shipping to mines major, will invest about INR 200 crore to INR 250 crore in developing a coal mine in the Batuah region of Kalimantan province in Indonesia as part of its strategy to increase its presence in the high margin mining industry. People More I...

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Hira Ferro Alloys Q3 net profit up

Hira Ferro Alloys Ltd has announced the Financial Results for the Quarter ended December 31st 2010. The company has reported Net Sales / Income from Operations of INR 43.07 crores for the quarter ended December 31st 2010 against INR 29.87 crores for the quarter ended December 31st More I...

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TATA Motors January sales up by 15pct

TATA Motors total sales (including exports) of TATA a commercial and passenger vehicles in January 2011 were 75,423 vehicles, a growth of 15% over 65,478 vehicles sold in January 2010. The company`s domestic sales of TATA commercial and passenger vehicles for January 2011 were 70,475 number More I...

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Call for removal of export duty on iron ore pellets from India

It is reported that with mineral-rich states mounting pressure on the government to restrict export of iron ore and incentivize value addition, the mines ministry has written to the finance ministry seeking abolition of the 15% export duty on iron ore pellets. According to the mines More I...

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ICVL submits bid for Mongolian coal asset

It is reported that India's International Coal Ventures Limited consortium has submitted a bid for buying a coal asset in Mongolia. Mr Ajay Mathur, nodal officer for ICVL, also told reporters the consortium was hopeful of acquiring two to three coal assets in Australia and Indonesia this More I...

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Xmet begins drilling program at Roy property in Quebec

It is reported that Junior gold explorer Xmet has begun an initial 800 meter diamond drilling program on the Roy property in Chibougamau, Quebec in which it has the option to earn a 70% interest. The company said the drilling program at the site will test for copper-gold porphyry style More I...

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Steel angle prices jump in Delhi

ANGL GR A 65X6 Location Change Ahmedabad 0 Bangalore 0 Chennai -221 Delhi 2000 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai 115 Raipur 520 Rudrapur 0 Change is on 3rd February as compared to 2nd February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer...

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GP steel HDG price jumps in Mumbai and Delhi

GP 100Gms 0.40 Location Change Mumbai 3051 Chennai 0 Kolkata 0 Delhi 3892 Ludhiana 181 Kanpur 0 Rudrapur 0 Bangalore 0 Change is on 3rd February as compared to 2nd February 2011 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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Peru acts to save uncontacted tribes

Peru's authorities have announced that they will work together with Brazil to stop loggers entering isolated Indians' territory along the two countries' joint border. The move is the first success of Survival's campaign to protect the uncontacted Indians of the Peru Brazil border. In More I...

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Creston Moly Corp updates El Creston molybdenum project

Creston Moly Corporation announces assay results from six exploration and four geotechnical holes at its El Creston molybdenum property in the state of Sonora in Mexico. In 2010, Creston completed four phases of drilling that resulted in the completion of 45 Exploration and 17 Geotechnical More I...

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Tenaris invites engineering students to US facilities

The local Tenaris recruitment team has offered an introduction to the industrial challenges associated with steel pipe production. Twenty two engineering students from Texas A&M and the University of Texas visited Tenaris's Houston offices and Conroe welded steel pipe mill. The one day More I...

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China province wise plated sheet strip in 2010

It is reported that China province wise plated sheet strip output during January to December 2010 total 28.47 million tonnes which Hebei topping the table Province Dec'10 Dec'09 Change Jan-Dec'10 Jan-Dec'09 Change Total 2.57 2.05 25.1 28.47 20.69 37.6 Hebei 0.34 0.34 -0.6 3.95 3.05 29.4 Shanghai 0.35 0.27 30.7 3.86 3.10 24.7 Jiangsu 0.30 0.22 32.9 3.64 2.39 52.2 Hubei 0.28 0.15 94.5 2.77 1.39 99.4 Liaoning 0.23 0.21 10.1 2.67 1.99 33.9 Shandong 0.16 0.15 6.2 1.89 1.78 6.3 Tianjin 0.19 0.09 116.3 1.81 1.14 57.9 Guangdong...

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BDI downward trend continues on February 3

It is reported that on February 3rd 2011, Baltic Dry Index reached 1045 points, down by 19 points as compared to February 2nd 2011. Capsize BCI Change INDEX 1298 -23 SPOT 4 TCE AVG 5216 -328 February 2nd 2011 5544 Year Ago 30707 All except INDEX in USD Change is with respect to numbers on February 2nd 2011 Panamax BPI Change INDEX 1311 +15 SPOT 4 TCE AVG 10489 +117 February 2nd 2011 10372 Year Ago 25012 All except INDEX in USD Change is with respect to numbers on February 2nd 2011 Supramax BSI Change INDEX...

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Ternium told to rescind Argentine price rises

Royal Dutch Plc and Ternium SA's Argentine units were ordered by the government to rescind price rises as South America's second biggest economy seeks to ease inflation surging at a rate of as much as 30%. According to the official gazette, which said price gains in recent months must be More I...

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HR Plate prices on fire in Europe

HR Plate prices from domestic mills are surprisingly on fire with levels of EUR 720 per tonne to EUR 740 per tonne EXW basis. However big bookings are elusive with dispatches in small lot of 30 tonnes to 40 tonnes only. www.steelprices-europe.com is a comprehensive service for tracking More I...

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Growth of GDP and standard of living based on oil has run out - Mr Kudrin

Interfax citing Mr Alexei Kudrin Deputy Prime Minister who is also the country's finance minister said Russia has already used up all its oil sector potential for GDP growth and that of the standard of living for its people. Mr Kudrin said "Further growth of GDP and living standards More I...

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Gulf United Steel Holding gets environment protection award

It is reported that Gulf United Steel Holding Company was awarded by Public Commission for the Protection of Marine Resources, Environment and Wildlife president Mr Shaikh Abdulla bin Hamad Al Khalifa, for its commitment to and efforts in implementing the latest environmental protection More I...

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48th meeting on Central Geological Programming Board

Mr Dinsha J Patel, the minister of state for mines (Independent Charge) will inaugurate the 48th Central Geological Programming Board meeting of the Geological Survey of India will be inaugurated tomorrow at Vigyan Bhawan. The 48th CGPB is an important platform where the review of the More I...

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IOC losing INR 189 crore per day due to under recoveries

State owned Indian Oil Corp said that it is losing INR 189 crore per day on selling auto and cooking fuel below cost as global crude oil prices shot up to USD 102 per barrel. An IOC official said that "The spike in global prices has widened the gap between the retail selling price and More I...

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Exports to Egypt to be impacted - Maruti Suzuki

Maruti Suzuki India said that its exports to Egypt, which accounts for 3% of its overseas sales, will be impacted due to the political unrest in the North African nation. Mr Mayank Pareek Maruti Suzuki India Managing Executive Officer (Marketing & Sales) told reporters that "Egypt accounts More I...

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BDI fell further by 20 points mark on February 2

It is reported that on February 2nd 2011, Baltic Dry Index reached 1064 points, down by 20 points as compared to February 1st 2011. Capsize BCI Change INDEX 1321 -16 SPOT 4 TCE AVG 5544 -180 February 1st 2011 5724 Year Ago 30013 All except INDEX in USD Change is with respect to numbers on February 1st 2011 Panamax BPI Change INDEX 1296 -3 SPOT 4 TCE AVG 10372 -14 February 1st 2011 10386 Year Ago 24936 All except INDEX in USD Change is with respect to numbers on February 1st 2011 Supramax BSI Change INDEX...

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Black Iron plans files prospectus for IPO

Black Iron Inc announced that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada excluding Quebec in connection with a proposed initial public offering of its common shares. The syndicate for the Offering is led by GMP More I...

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Judge move West Virginia coal lawsuit to DC

A federal judge has issued an order moving West Virginia's lawsuit challenging Environmental Protection Agency policies designed to curb surface coal mining to Washington, DC. US District Judge John Copenhaver Jr issued the order Monday. It had been sought by the EPA and other defendants, More I...

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KazakhGold boosts 2010 gold production by 52pct

Kazakhstan's KazakhGold produced 110,500 oz (3,435 kg) of gold in 2010, 52% more than in 2009, the company said in preliminary operating results. The company said 38.2 k oz of gold was produced in sludge, 23.1 k oz in quartzite ore, 16.4 k oz and 7.7 k oz in flotation and gravitation More I...

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Port strike hits Alumbrera copper gold Mine dispatches

Dow Jones reported that Argentine mining company Minera Alumbrera Ltd key port along the Parana River isn't able to receive or load copper gold concentrate due to a strike that has closed neighboring ports used by grain exporters to ship their products to global markets. Mr Raul Mentz the More I...

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Pig iron price fall at major places on Feb 2

Pig iron Foundry Grade Location Change Agra -453 Jallandhar -272 Kolkata -453 Raipur -453 Change is on 2nd February as compared to 1st February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar http://steelprices-india.com/spi_services/terms_of_use_for_registration.html (Sourced...

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Steel angle prices up in Bangalore

ANGL GR A 65X6 Location Change Ahmedabad 0 Bangalore 800 Chennai 0 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Mandi 0 Mumbai 344 Raipur 0 Rudrapur 0 Change is on 2nd February as compared to 1st February 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address...

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NALCO hikes aluminium prices by INR 6000 per tonne

National Aluminium Company said that it has increased the price of the metal by nearly 5% or INR 6,000 to around INR 121,000 a tonne in sync with the firming up of the global prices. The price of aluminium at LME crossed the USD 2,500 per tonne mark recently. This includes a USD 100 per More I...

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SMR sees global stainless steel output growing by 7pct in 2011

According to stainless and special steel consulting firm Steel & Metals Market Research, stainless steel production is likely to grow by 7% in 2011 after touching a record in 2010. SMR said that global stainless steel production touched a record high at 32.2 million tonnes in 2010, with More I...

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Sandvik board proposes introduction of long term incentive program

The board of directors of Sandvik AB proposes that the Annual General Meeting approve the introduction of a long term, share based incentive program encompassing approximately 400 senior executives and key individuals within the Group. The program will replace previous cash based schemes as More I...

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OmniSource looking to fill up to 200 jobs for BMW supplier

OmniSource Staff's Greenville office said that it is looking to fill up to 200 jobs for a BMW supplier over the next few months. Ms Melissa Mendez, branch manager for OmniSource, said that the positions are in quality inspections, manufacturing and materials handling. Ms Mendez said More I...

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Long steel prices correct mildly in Europe

Beltrame of Italy, market leader of merchant bars has decreased prices by EUR 30 per tonne from the levels of Euro 340 per tonne to EUR 350 per tonne to EUR 310 per tonne to EUR 320 per tonne basis EXW. Debars prices are also under pressure although effective price is around EUR 540 per More I...

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Russia Kosaya Gora Iron Works increases pig iron sales in 2010

It is reported that Russia Kosaya Gora Iron Works has announced that in 2010 it was among the leaders in pig iron supplies to the Russian and Belarusian markets with sales for the year increasing by 2.5%YoY to 272,220 tonnes constituting 26.9% of the total volume sold in these markets. In More I...

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Longwei Petroleum announces USD 186 million in annual contracts

Longwei Petroleum Investment Holding Ltd an energy company engaged in the storage and distribution of finished petroleum products in the People Republic of China announced that during the month of January it has renewed annual contracts with fifteen customers for 186,000 tonnes of diesel More I...

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Macroeconomic indicators - Chinese premier promises to tame inflation

Reuters reported that Mr Wen Jiabao Chinese premier vowed to rein in excessive consumer price rises in the country recently and pledged to crack down on speculators in the property market. In a speech marking the Lunar New Year holiday, Mr Wen said the government would try to keep overall More I...

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Standard and Poor downgrades Egypt debt rating

AP reported that Standard & Poor's has downgraded its rating on Egypt and warned that another cut was possible as a week of protests demanding the ouster of the president crippled the nation, ground its economy to a virtual standstill and battered its currency. S&P became the second major More I...

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Voltas Q3 consolidated earnings drop by 6pct

Voltas said that it has posted consolidated profit after minority interest of INR 705.50 million for the quarter ended December 31st 2010 as compared to INR 756.90 million for the quarter ended December 31, 2009, a decline of 6.79%. Consolidated total income has increased from INR More I...

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POSCO takes precaution - CEO

Industry sources said that although steel giant, POSCO, got the green light to build a manufacturing plant in Orissa, India, it may still see a few obstacles before the completion of the USD 22 billion project. The Indian government finally gave POSCO, currently the world’s third More I...

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Refractory industry growth must for steel capacity expansion

BS reported that Indian refractory makers with a turnover of around a billion dollar are the David compared with the Goliath of the steel industry. But unlike in the case of David, refractory makers do not have the benefit of divine intervention. It is, therefore, not surprising that they find More I...

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Macroeconomic indicators - China PMI drops to 5 month low of 53pct in January

Xinhua quoted the China Federation of Logistics and Purchasing said China manufacturing sector purchasing managers index fell to a five month low of 52.9% in January compared with 53.9% in December. The January figure means the benchmark index for economic expansion has kept above the boom More I...

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Saudi Aramco Wasit construction deals valued at USD 2.5 billion

Reuters reported that deals to build Saudi Aramco's Wasit gas plant, the kingdom's largest, are worth USD 2.5 billion. Aramco last week selected South Korean companies to build Wasit, which has a gas processing capacity of 2.5 billion cubic feet per day. It did not give a value for the More I...

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Shriram Transport Q3 net up by 27pct

Non banking finance company Shriram Transport Finance reported a 27.26% growth in net profit at INR 301.36 crore for the third quarter ended December 31st 2010. The company had a net profit of INR 236.81 crore in the corresponding period last year. Shriram Transport in a filing to the More I...

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GC steel HDG price up in Ludhiana

GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Ludhiana 635 Mumbai 0 Rudrapur 0 Change is on 1st February as compared to 31st January 2011 Change is in INR per tonne To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service. For registration click or copy the link and paste it to your internet explorer address bar. http://steelprices-india.com/spi_services/terms_of_use_for_registration.html (Sourced...

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China province wise seamless steel tube output in 2010

It is reported that China province wise seamless steel tube output during January to December 2010 total 25.28 million tonnes which Jiangsu topping the table. Province Dec'10 Dec'09 Change Jan-Dec'10 Jan-Dec'09 Change total 2.32 2.23 3.8 25.28 22.05 14.7 Jiangsu 0.40 0.31 28.3 4.06 3.77 7.6 Shandong 0.38 0.30 27.1 4.03 3.01 33.7 Tianjin 0.25 0.26 -5.3 3.48 3.41 2.3 Zhejiang 0.17 0.17 1.2 1.91 1.58 20.6 Henan 0.16 0.20 -16.8 1.68 1.12 49.5 Sichuan 0.11 0.08 42.7 1.15 1.08 6.7 Hunan 0.09 0.08 13.3 1.08 0.95 14.1 Hebei ...

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ONGC to give up Egypt exploration assets - Source

State run explorer Oil and Natural Gas Corporation will give up its exploration assets in Egypt, a source with direct knowledge of the matter said on Tuesday, as the discoveries are not commercially viable. The source said that "ONGC has informed Egypt authorities that it wants to More I...

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India seeing growth in coal iron ore and aluminium

The March issue of International Mining will include a detailed report on the mining industry of India and its future plans. It is gearing up for the XII Five Year Plan. The US Geological Survey notes India’s “globally significant mineral resources; its deposits of coal, More I...

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Yanzhou Coal wins bid for coal mining rights in Inner Mongolia

China Knowledge reported that Yanzhou Coal Ordos Neng Hua Co Ltd a wholly owned subsidiary of Yanzhou Coal Mining Co Ltd recently won the bid for the coal mining rights of the Zhuanlongwan coal mine in Dongsheng coal field in North China Inner Mongolia Autonomous Region. The subsidiary has More I...

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POSCO says no plan to develop coal mine in Mozambique

South Korea's POSCO said that it does not plan to develop a coal mine in Mozambique, denying its statement over the weekend for such a plan with Vale. POSCO in a statement said that "We don't have any plan to develop a coal mine in Mozambique with Vale and our earlier statement had More I...

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Nymagee drilling intersects high grade lead zinc silver lens

It is reported that YTC Resources has intersected high grade lead-zinc-silver lens in the drilling program on the western side of the Nymagee main lode. The company also discovered strong copper intersections within the Nymagee main lode. The company said vertical continuity of high More I...

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Chelyabinsk Zinc Plant production up by 28pct

CZP's affiliated company, Nova Zinc LLC operator of Akzhal zinc and lead ore mine in Kazakhstan, produced stripping works 4,277 thousand cubic metres in 2010, 55% more than 2009 and processed 1,550.6 thousand tonnes of ore 30% more than the previous year. Average metal content in the ore More I...

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TISCO automobile usage steel products sales hit record highs

It is reported that China Taiyuan Iron & Steel Group's sales volumes of automobile usage steel products have increased by 45% to reach the record highs in 2010. In the beginning of 2010, TISCO had started to offer high tension automobile usage steel products to its customers; besides, the More I...

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Cordiant Capital invests USD 27 million to expand Cai Lan Intl Terminal

It is reported that a Canada based fund management company is channeling USD 27 million towards the expansion of the Cai Lan International Container Terminal in northern Vietnam. Mr David Creighton president & CEO of Cordiant Capital said that "Vietnam has been a real success story, but More I...

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Chrysler Group Q4 2010 loss narrows

Detroit based automaker Chrysler Group LLC said that its fourth quarter net loss narrowed from 2010, mainly due to an absence of a special charge related to the UAW Retiree Medical Benefits Trust. However, on a sequential basis, quarterly loss widened, hurt by heavy interest paid on loans. More I...

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US weekly raw steel production up by almost 15pct YoY

American Iron & Steel Industries reported that, in the week ending January 29th 2011, US domestic raw steel production was 1.782 million tons while the capability utilization rate was 73.7%. Production was 1.552 million tons in the week ending January 29th 2010, while the capability More I...

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Mitsubishi Motors looks to up auto sales in Russia 65% in 2011

Interfax citing Mr Andrei Pankov General Director at the company exclusive distributor Rolf Import LLC as saying that Mitsubishi Motors Corporation has set 75,000 automobiles as its sales target for Russia this year which would be a 65% increase over last year He said that "We plan to sell More I...

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Chinese crude steel output inches down a bit in mid ten days of January

The latest ten day report by CISA shows that, the crude steel output of its members during the mid-ten days of January was about 14.89 million tonnes corresponding to 16.95 million tonnes for the whole country. The daily output for the ten days stood at about 1.7 million tonnes down 98,000 More I...

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Chinese crude steel output inches down a bit in mid ten days of January

The latest ten day report by CISA shows that, the crude steel output of its members during the mid-ten days of January was about 14.89 million tonnes corresponding to 16.95 million tonnes for the whole country. The daily output for the ten days stood at about 1.7 million tonnes down 98,000 More I...

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Israel fears Egypt unrest will threaten gas supplies

AFP reported that Israel expressed concern that its natural gas supplies from Egypt could be threatened by the ongoing popular uprising to oust President Mr Hosni Mubarak. A spokesman for Israel's national infrastructure minister Mr Uzi Landau told AFP that "We again realize that the More I...

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Kochi port projects stalled by delayed Naval clearance

Even as the Cochin Port Trust is building world class terminals such as the ICTT at Vallarpadam and the LNG terminal, the bulk cargo handling facilities at the port remain inadequate. The Port is, therefore, looking at various options to improve its cargo profile after the container More I...

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US iron and steel scrap exports figures for September 2010

According to the US Geological Survey in Reston, following is a table detailing US iron and steel-scrap exports by country. Item Sep '10 Sep '09 Change YTD '10 YTD '09 Change Total 1,660 2,020 -17.8% 14,800 17,300 -14.5% China 107 385 -72.2% 2,250 5,160 -56.4% Turkey 546 309 76.7% 2,990 2,770 7.9% South Korea 218 510 -57.3% 2,260 2,490 -9.2% Taiwan 195 177 10.2% 1,950 1,490 30.9% India 46 22 109.1% 670 1,300 -48.5% Canada 131 91 44.0% 1,080 676 59.8% Vietnam 117 85 37.6% 443 593 -25.3% Mexico 32 92 -65.2% 500 482 3.7% Malaysia...

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Steel Strips bags major orders from Renault for Russia

Steel Strips Wheels has bagged an order to export 20,000 wheels per month to Renault, France. The total supplies for next 5 year would be around 1.2 million wheels equivalent to around INR 190 crore The order is for a new vehicle to be launched in Russia towards end on More I...

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