CME Group launches new industrial steel futures

Platts' physical price data have been selected as the basis for three new industrial steel futures contracts by CME Group, including scrap, billet and hot rolled coil. Mr Gerald Bueshel Platts director of global licensing said “This use of daily Platts ferrous metals data in swap More I...

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Italian steel out put in Q1 surges by 8pct YoY

Federacciai announced that steel output in, European Union's No 2 producer after Germany, Italy, the, rose 8% YoY to 6.962 million tonnes in the first three months of 2011. In March alone, Italy's steel output rose 8.6% to 2.575 million tonnes. Federacciai has expected output to rise More I...

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PT Adaro to propose USD 75 million dividend

One of Indonesia's largest coal miner PT Adaro Energy Tbk is keen to propose a final dividend of USD 75 million as quoted by Insider Stories. Adaro Corporate Secretary Devindra Ratzarwin said the proposed dividend will be discussing during annual of shareholders general meeting scheduled More I...

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L and L Energy announces two contracts to supply coal to Kunming Steel

L & L Energy Inc, a US based company since 1995 with coal mining and distribution businesses in China, announced that it entered into two purchase contracts to supply in total 700,000 tonnes of coal to Kunming Iron & Steel Group Co Ltd of China. The first purchase contract will provide More I...

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Rio Tinto Q1 iron ore production update

Pilbara marketing First quarter sales of 50 million tonnes (100 per cent basis) were six per cent lower than the corresponding quarter of 2010. The impact of three tropical cyclones and additional tropical low depression systems caused out-loading operations to be suspended several times More I...

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Chinese domestic steel beam price update on Apr 18

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 100 15 Urumchi 0 0 Average 4 1 Change is on 18th April as compared to 15th April 2011 Change is per tonne USD:CNY = 6.53 To know exact prevailing steel prices in China on daily basis, subscribe to services...

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Red Crescent files report on Hakkari zinc project in Turkey

Red Crescent Resources Limited announced that a National Instrument 43-101 compliant mineral resource estimate report was filed on SEDAR for its Hakkari Zinc Project located in South East Turkey. The Hakkari Zinc Project is Red Crescent's primary focus of activity and in the 2011 season is More I...

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Mr Mohammed Rashid and Mr Mohammed Zayed inaugurate EMAL smelter project

WAM reported that His Highness Sheikh Mohammed bin Rashid Al Maktoum, VP and PM of UAE and Ruler of Dubai and His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces inaugurated the Emirates Aluminum Company More I...

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Copper prices drop for consecutive 3 days at SHFE

Reportedly, the copper prices have continued declining for consecutive three days at Shanghai Futures Exchange. The copper contract prices for June have gone down by 1% to touch CNY 71 per tonne to CNY 150 per tonne. Also, the copper contract price dropped sharply by 0.7% on last Thursday More I...

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Construction begun stainless steel plant in Changchun

Interfax China reported that construction has begun on a 500,000 tonnes stainless steel plant in the city of Changchun in Jilin Province. The plant will cost of CNY 21 billion to build and is being jointly invested by Zhejiang based China South East Special Steel Group Co Limited and its More I...

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Renewable Energy Research Park launched at Fairbridge Village

Mr Peter Collier minister for energy attended the historic turning of the sod ceremony for the Renewable Energy Research Park at Fairbridge Village. Senior representatives from Horizon Power, Verve Energy and Alcoa also attended the official ceremony, for which Alcoa gifted Fairbridge the More I...

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GMS weekly report on ship breaking industry for WEEK 15

Despite the Bangladeshi market formally opening last week, most looking to sell to the local market expected a resurging of prices and demand after an absentee hiatus. Unfortunately, neither has happened so far. In fact, prices from Bangladesh started to retreat causing many owners to sail More I...

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Steel light channel prices movement on Apr 18

CHNL GR A 75/100 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 400 Kanpur 0 Kolkata 0 Ludhiana 208 Mandi -208 Mumbai -229 Raipur 0 Rudrapur 0 Change is on 18th April as compared to 15th April 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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Wide steel plate price jump in Indore

PLTS GR B 12-20x2.5 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 826 Kanpur 0 Kolkata 0 Mumbai 0 Raipur 0 Rudrapur 0 Change is on 18th April as compared to 15th April 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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worldsteel appoints Mr Basson as new director general

The worldsteel board of directors formally approved the appointment of Mr Edwin Basson as director general of the World Steel Association, effective from August 2011. Mr Edwin Basson joined the steel industry in 1994 and has held various positions at world leading steel companies. At Iscor More I...

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worldsteel releases April 2011 short range outlook

The World Steel Association has released its April 2011 short range outlook for 2011 and 2012. worldsteel forecasts that apparent steel use will increase by 5.9% to 1,359 million tonnes in 2011, following 13.2% growth in 2010. In 2012, it is forecast that world steel demand will grow further More I...

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NLMK VIZ Stal to launch high permeability transformer steel production

NLMK Group is going ahead with its plans to master the production of high permeability transformer steel. Its fully owned subsidiary based in the Urals, VIZ-Stal is planning to launch a 70,000 tonnes per annum HPS facility by 2014. The Company has started the reconstruction of its two More I...

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Higher oil prices are here to stay - QNB Capital

According to analysis by QNB Capital, recent higher oil prices are likely to remain. Since September 2010, the average monthly price of the benchmark Brent crude oil has increased by 47% to reach USD 114 per barrel in March 2011 from USD 78 per barrels. The recent surge in prices has been More I...

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GMS weekly report on Pakistan ship breaking industry for WEEK 15

In keeping with their competing neighbors, the recycling industry saw Pakistani Buyers moderately firming tip their levels this week as well. As such, a combination of strong prices and milder gas free requirements resulted in Gadani recyclers walking away with VLCC TULIN this week. While More I...

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India iron ore mining mess - State moves to counter CEC

The state government will be highlighting its efforts to curtail illegal mining in the state by banning movement of iron ore, in its response to the Supreme Court on April 21 regarding issues raised in the CEC report over illegal mining in Karnataka. In a high level meeting held presided More I...

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McNally Bharat bags coke oven by product plant order from SAIL BSP

McNally Bharat Engineering Company Ltd has obtained a Letter of Intent from Steel Authority of India Limited's Bhilai Steel Plant for INR 379 crore turnkey contract. The deal is for installation of a coke oven by product plant complex linked to BSP's new coke oven battery No 11. With More I...

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GC steel HDG price update on Apr 14

GC 100Gms 0.40 Location Change Bangalore 0 Chennai 0 Delhi 0 Kanpur 0 Kolkata 0 Ludhiana -181 Mumbai 0 Rudrapur 0 Change is on 14th April as compared to 13th April 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....

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Xinjiang to produce 430 million tonnes of coal in 2015

It is reported that Xinjiang an autonomous region of China aims to become next main coal producing region in China and will hopefully leap into the range of top 3 coal-producing regions before 2015. Mr Wu Jiachun deputy director general of Xinjiang Coal Industry Bureau expressed that More I...

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India iron ore mining mess - Goa to amend mining rule

Goa government will soon amend the current rules to give more teeth to enforcement agencies for curtailing illegal mining and related activities in the coastal state. State Mines and Geology Department Director Mr Arvind Lolienkar said the process to amend 'Goa Prevention of Illegal Mining More I...

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KGHM may propose 10 for 1 share split at AGM

Reuters reported that KGHM may propose a 10 for 1 share split at its next annual meeting to boost its market liquidity. Mr Herbert Wirth CEO of KGHM said that "We are now analyzing KGHM share split proposal that we plan to present at the nearest shareholder meeting. If analysis shows that More I...

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Win Eldrich Q1 moly production nears 2008 high

Reuters reported precious metals miner Win Eldrich Mines Limited quarterly production at its Ashdown molybdenum mine in Nevada was at peak levels last achieved in 2008 before lower prices forced the mine into maintenance. Toronto based Win Eldrich said that it produced 101,311 pounds of More I...

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Carpenter Technology hikes stainless and specialty alloy prices

Carpenter Technology Corporation announced that it will increase base prices an average of 3% to 5% on stainless and specialty alloys in all product forms. The increases will be effective for orders placed on or after April 15, 2011. Additionally, Carpenter said all applicable More I...

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Macroeconomic indicators - US imports and exports fell in Feb

Reuters reported that US imports and exports fell in February 2011, prompting analysts to cut again their forecasts for US economic growth in early 2011 and showing signs of a slowing in the global recovery. The Commerce Department said that the trade gap totaled USD 45.8 billion and was More I...

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Steel light channel prices update on Apr 14

CHNL GR A 75/100 Location Change Ahmedabad 229 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kanpur 0 Kolkata 0 Ludhiana 0 Mandi 0 Mumbai 115 Raipur 0 Rudrapur 0 Change is on 14th April as compared to 13th April 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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Macroeconomic indicators - Euro area industrial production up

According to the data published by Eurostat and the National Institute of Statistics, in February 2011 as compared with January 2011, seasonally adjusted industrial production grew by 0.4% MoM in the euro area and by 0.2% MoM in the EU 27. In January 2011, production rose by 0.2% and 0.5% More I...

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Chinese domestic steel plate price update on Apr 14

Plates 20mm Common Location In CNY In USD Beijing 30 5 Changsha 0 0 Chengdu 0 0 Chongqing 50 8 Fuzhou 0 0 Guangzhou 0 0 Hangzhou 0 0 Harbin 0 0 Hefei 0 0 Jinan 0 0 Kunming 50 8 Lanzhou 0 0 Nanchang 0 0 Nanjing 20 3 Shanghai 20 3 Shenyang 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Tianjin -10 -2 Wuhan 0 0 Xian 20 3 Zhengzhou 0 0 Average 8 1 Change is on 14th April as compared to 13th April 2011 Change is per tonne USD:CNY = 6.53 To know exact prevailing steel prices in China on daily basis, subscribe to...

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Steel Dynamics appoints Mr Millett as president and CEO

Steel Dynamics Inc announced that its board of directors has approved the appointment of Mr Mark D Millett to the new position of president & CEO, effective immediately. Mr Millett, a co founder of the company in 1993, has been EVP for Metals Recycling and Ferrous Resources as well as More I...

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Ukraine automotive output more than doubles in Q1

According to the data issued by the Ukrainian Motor Vehicle Manufacturers Association Ukrautoprom, in the January to March period of the current year Ukrainian automakers produced 22,800 vehicles more than doubling year on year In particular, in the first quarter of this year Ukraine car More I...

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Ford Motor to double China Workforce by 2015 in expansion drive

Bloomberg reported that Ford Motor Co will hire 1,200 new employees in China by 2015, doubling its workforce as it seeks market share in the world largest auto market. Mr Joe Hinrichs chief of the automaker Asia Pacific and African operations said “In China we’re going to More I...

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China export of steel structure to Japan expected to rally

Japanese constructions, especially large-sized and high-rise buildings are mainly made up by steel structures which have good performance in earthquake resistance and firmness. Although Daiwa House Industry Co Ltd the representative of Japanese housing enterprises rolls out steel structure More I...

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Shell Australia refinery buckles to Asia challenge

AFP reported that Royal Dutch Shell unveiled plans to convert one of its two Australian refineries into an import hub for Asian fuel blaming strong regional competition for hitting business. Shell Australia said that Sydney’s 75,000 barrel per day Clyde refinery was no longer More I...

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Pencil ingot price movement in major places

Pencil ingot Location Change Ahmedabad 400 Alang 0 Bhiwari 300 Chennai 0 Durgapur 272 Ghaziabad 200 Hyderabad 0 Jaipur 100 Jamshedpur 100 Ludhiana 181 Kanpur 0 Kolkata 0 Mandi 100 Mumbai 100 Muzzafarnagar 174 Nagpur 0 Raigarh 50 Raipur 100 Rourkela -50 Rudrapur 0 Change is on 14th April as compared to 13th April 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...

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MENA unrest - Impact on some economies in Africa

The raging civil strife in Libya may not be seen to be having any impact on some economies in Africa because of its proximity but for Zambia it might. Economic and political commentators have raised eyebrows about the raging civil strife between leader Mr Muammar Gaddafi and the combined More I...

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Egyptian rebar market slow and imports struggle to compete

Arab Steel reported that Egyptian rebar market players report low demand after prices remained unchanged at EGP 4,300 per tonne to EGP 4,350 per tonne for April. Some import booking are reported but prices of imported material are not generally economic enough to compete with local production, More I...

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HR steel prices remain flat

HRC Tube 2.5x1250 Location Change Ahmedabad 0 Bangalore 0 Chennai 0 Delhi 0 Indore 0 Kolkata 0 Ludhiana 0 Mumbai 0 Change is on 14th April as compared to 13th April 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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Ford India hikes prices of Figo

Carmaker Ford India announced a hike of 1% in the prices of its small car ‘Figo’ from this month in order to minimize the impact of rising commodity rates. Mr Michael Boneham Ford India president and MD told reporters that “There has been a continuous cost pressure on our More I...

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Brahmani Steel drops steel plant plan in Bellary

Mr Janardhana Reddy company’s Brahmani Steels has decided not to set up a steel plant in Bellary. Now the company has transferred its shares to Uttam Galva Maharashtra. Sources said that Reddy after his aborted efforts to operational the Brahmani steel plant in Kadapa Andhra Pradesh More I...

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POSCO war zone - Orissa government submits assurance

Orissa government shot off a letter to the union ministry of environment and forest assuring that no tribal inhabitants and Other Traditional Forest Dwellers were living at the proposed Posco project site near Paradip for at least 75 years. Mr Bijay Patnaik chief secretary told reporters at More I...

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Ashinskiy sees 7pct rise in Q1 steel output

According to its data issued for the Q1 of the current year, Russian steel producer Ashinskiy Metallurgical Works registered 6.5% rise YoY in its steel output to 181,000 tonnes including 177,500 tonnes of slabs up 8.6% YoY. In January to March, Ashinskiy kept its output of rolled steel More I...

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Chinese logistics industry value up by 14pct YoY in 2 months - NDRC

According to a statement released by China's National Development and Reform Commission, the total value of China's logistics industry reached CNY 20.5 trillion in 2011, reflecting a year on year increase of 14.5% in the first two months of 2011. During the reporting period, China's More I...

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Jinhuan Steel officially opens JV with Rigid Building

Xinhua reported that Jinhuan steel, a leading private steel manufacturing company based in China's Hebei province, and Rigid Building Systems, a Houston based steel building company, have officially opened their JV Rigid Global Buildings. Mr Liu Baozhong president of Jinhuan Steel said More I...

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Turkish Bursa light rail receives international funding

Railway Gazette reported that the European Bank for Reconstruction & Development has approved 15 year loan worth EUR 50 million towards construction of the Phase II of the light rail network in Bursa. The loan is part of a financing package which also includes €100m from the European More I...

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Madhya Pradesh Annual Plan 2011-12 finalized

Annual Plan size for Madhya Pradesh for the year 2011-12 was approved at a meeting between the Deputy Chairman, Planning Commission, Mr Montek Singh Ahluwalia and Chief Minister of Madhya Pradesh Mr Shivraj Singh Chouhan. The Plan outlay for the year was agreed at INR 23000 crores. In his More I...

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Steel wire rod prices remain flat in major places on Apr 6

WRC SWR14 5.5/6 Location Change Chennai 272 Delhi 0 Kanpur 0 Kolkata -272 Raipur 0 Rudrapur 0 Change is on 6th April as compared to 5th April 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 Apr 6

Patra Location Change Delhi 0 Ludhiana 181 Mandi 181 Change is on 6th April as compared to 5th April 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 www.ste...

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Service tax on FOREX conversions to blunt industry export competitiveness - ASSOCHAM

Apex industry body ASSOCHAM has urged the government to exempt currency conversions from service tax as the new rule will put extra burden on corporates and blunt competitiveness of exports out of India. The Reserve Bank of India publishes market rates at noon to act as a reference rate and More I...

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Kochi Port to float new tender for dredging

The Kochi Port will float a new global tender to complete the capital dredging work in its channel following the sudden stoppage of work by the contractor Jaisu Shipping Company. Official sources in the port said that the new global tender would also include maintenance dredging in the More I...

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Vedanta gets SEBI nod for open offer for Cairn India

The Securities and Exchange Board of India has given its nod to Vedanta Resources’ INR 13,160 crore open offer for Cairn India. Mr Anil Agarwal chairman of Vedanta said “SEBI has given a clearance and the offer will open next week. We will post the mails in a day or More I...

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Pencil ingot prices down at major places on Apr 5

Pencil ingot Location Change Ahmedabad -100 Alang -100 Bhiwari -200 Chennai 0 Durgapur -272 Ghaziabad -300 Hyderabad 400 Jaipur -200 Jamshedpur -200 Ludhiana -363 Kanpur 0 Kolkata 0 Mandi 0 Mumbai -200 Muzzafarnagar 0 Nagpur -363 Raigarh -199 Raipur -100 Rourkela 100 Rudrapur 0 Change is on 5th April as compared to 4th April 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...

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SAIL DSP capacity utilization at 119pct

Steel Authority of India Limited’s Durgapur Steel Plant said that it produced 1.89 million tonnes of saleable steel operating at 119% capacity in 2010-11. It also set a total saleable steel dispatch record at 1.92 million tonnes. DSP supplied 30,108 loco wheels, highest ever, to the More I...

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China and India to invest in S African coal assets - Universal Coal

Universal Coal Limited said that China and India are seeking to invest in coal assets in South Africa to diversify supplies after disruptions in output from Australia and Indonesia. Mr Tony Harwood chairman of Universal Coal Limited said that "China gets most of its coal from Australia, More I...

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Ventnor Resources to commence drill program at Thaduna and Green Dragon project

Australian base metals company, Ventnor Resources has stepped up exploration activities at its Thaduna and Green Dragon Copper prospects confirming commencement of its Phase I drilling program targeting copper sulphide mineralization at its Thaduna and Green Dragon copper prospects. The More I...

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China Yunnan enters exploration and project development program

China Yunnan Copper Australia Limited entered into agreements for a USD 13.127 million capital rising to develop deposits and fund drilling and exploration programs. The placement of 54,695,775 shares at 24 cents each will raise gross proceeds of approximately USD 13.127 million. This More I...

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Zambia miners unhappy with terminal benefits from their employers

The 18 miners recently dismissed by China owned Non Ferrous Metals Africa Corporation Chambishi Mine on the Copper rich region of Zambia are unhappy with their terminal benefits offered by their employers. There was no immediate comment from National Miners Union and Allied Workers More I...

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S Oil to cut prices of gasoline and diesel this week

Yonhap reported that S Oil Corporation, South Korea's third largest refiner, has decided to cut prices of gasoline and diesel this week in line with government efforts to curb inflation. Effective April 6th 2011, ex factory prices of its gasoline and diesel will be reduced by KRW 100 per More I...

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ArcelorMittal concedes defeat in patent battle over a new form of steel

The Financial Times reported that ArcelorMittal has conceded defeat in a long running patent battle over a new form of steel, clearing the way for an industrial rival to increase its share of the fast expanding advanced automotive materials business. As per report, the Luxembourg company More I...

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ArcelorMittal concedes defeat in patent battle over a new form of steel

The Financial Times reported that ArcelorMittal has conceded defeat in a long running patent battle over a new form of steel, clearing the way for an industrial rival to increase its share of the fast expanding advanced automotive materials business. As per report, the Luxembourg company More I...

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Metinvest logistics unit is again among the market leaders

National Marine Rating of Ukraine award ceremony took place in Odessa on March 24th 2011 in which the freight forwarding unit of Metinvest, Skif Shipping took the first place in the nominations of Forwarding Agent of the Year and Marine Agent by performance in as of 2010. 70 experts of the More I...

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China releases green goals for 2011

China Daily reported that China's resource conservation and environmental protection goals for 2011 were released by the National Development and Reform Commission and related regulations are likely to be announced soon. The country intends to reduce its energy consumption per unit of More I...

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30 bridge projects infrastructure spend underway in Saudi Arabia

Construction Week reported that the astonishing infrastructure spend underway in Saudi Arabia at the moment includes 30 bridge projects in its 2011 municipal budget. Bridges are big business in the region at the moment not only connecting disparate areas but helping to transform More I...

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Steel Summit 2011 calls for joint Arab projects

Arab Steel Summit Conference 2011 was opened associated with the iron and steel international exhibition which is to run for 3 days. The conference and the associated exhibition are co organized by Arab Iron and Steel Union and Qatar Steel Company. Mr Ali bin Hassan Al Mreikhi member of 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 5th April as compared to 4th April 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 More I...

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Ashok Leyland March sales up 21pct

Ashok Leyland reported its highest ever monthly sales in March at 12,168 units registering a 21% jump over the same month previous year. Ashok Leyland in a statement said that in the 2010-11 financial year the company registered an all time high growth sales at 94,105 vehicles, registering More I...

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BDI continues on downward trend on April 5

It is reported that on April 5th 2011, Baltic Dry Index reached 1462 points, down by 36 points as compared to April 4th 2011. Capsize  BCI Change INDEX 1728 -51 SPOT 4 TCE AVG 9579 -726 April 4th 2011 10305 Year Ago 29919 All except INDEX in USD Change is with respect to numbers on April 4th 2011 Panamax  BPI Change INDEX 1839 -50 SPOT 4 TCE AVG 14764 -407 April 4th 2011 15171 Year Ago 30062 All except INDEX in USD Change is with respect to numbers on April 4th 2011 Supramax  BSI Change INDEX 1485 -11 SPOT...

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Ashok Leyland aims to be among global top 10 truck makers

Hinduja group flagship company Ashok Leyland said it is adopting a three-pronged strategy to break into the lists of top 10 global truck manufacturers and top five bus makers in the next 5 to 10 years. Mr Vinod K Dasari newly appointed company Managing Director told reporters that "Ashok More I...

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UK PM fear that carbon tax could cost jobs in Wales

Wales Online reported that Mr David Cameron Prime Minister of UK and Mr Danny Alexander chief secretary to the Treasury both came under pressure from Welsh MPs who fear a new carbon tax could devastate the steel industry in Wales. Steel giant TATA employs 7,500 people in Wales and has More I...

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Canada completes AD on some flat HRC and alloy steel sheets

On December 1st 2010, the Canadian International Trade Tribunal, pursuant to subsection 76.03(3) of the Special Import Measures Act, initiated an expiry review of its orders made on August 16th 2006 in Expiry Review No. RR-2005-002, continuing its finding made on August 17, 2001, in Inquiry More I...

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Severstal complete sale of the subsidiary of SNA

Severstal one of the world leading steel and mining companies has completed the sale of the subsidiary of Severstal North America which owns facilities at Warren, OH, Wheeling, WV and Sparrows Point, MD on the previously disclosed terms to The Renco Group Inc. Following the sale SNA will More I...

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Oman petroleum sector wary of pay hikes

Times of Oman quoted Oil and gas companies as saying that the pay rise demanded by their staff will restrict their growth and profitability. According to the statistics from the Ministry of Finance, the oil and gas sector is crucial to the economy whose revenues provide about 70% of the More I...

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Chinese domestic HR steel prices update on Apr 1

HRC 4.75mm Common Location In CNY In USD Beijing 0 0 Changsha 0 0 Chengdu 0 0 Chongqing 0 0 Fuzhou 0 0 Guangzhou -10 -2 Hangzhou 0 0 Harbin 0 0 Hefei 0 0 Jinan 0 0 Kunming 0 0 Lanzhou 50 8 Nanchang 0 0 Nanjing 0 0 Shanghai 0 0 Shenyang 0 0 Shijiazhuang 0 0 Taiyuan 0 0 Tianjin 0 0 Urumchi 0 0 Wuhan 0 0 Xian 0 0 Zhengzhou 0 0 Average 2 0 Change is on 1st April as compared to 31st March 2011 Change is per tonne USD:CNY = 6.55 To know exact prevailing steel prices in China on daily basis, subscribe...

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Chinese domestic steel plate price update on Apr 1

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 -20 -3 Jinan 0 0 Kunming 0 0 Lanzhou 0 0 Nanchang 0 0 Nanjing -20 -3 Shanghai 0 0 Shenyang 0 0 Shijiazhuang -20 -3 Taiyuan 0 0 Tianjin -20 -3 Wuhan 0 0 Xian 0 0 Zhengzhou 0 0 Average -4 -1 Change is on 1st April as compared to 31st March 2011 Change is per tonne USD:CNY = 6.55 To know exact prevailing steel prices in China on daily basis, subscribe...

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Chinese domestic galvanized steel HDG price remain flat

HDG 0.5mm Location In CNY In USD Shanghai 0 0 Hangzhou 0 0 Fuzhou 0 0 Nanchang 0 0 Guangzhou 0 0 Wuhan 0 0 Zhengzhou 0 0 Beijing 0 0 Tianjin 0 0 Shenyang 0 0 Harbin 0 0 Chongqing 0 0 Xian 0 0 Boxing 0 0 Average 0 0 Change is on 1st April as compared to 31st March 2011 Change is per tonne USD:CNY = 6.55 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...

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EFG Hermes upgrades Ezz Steel to buy

Reuters reported that EFG Hermes upgraded Ezz Steel Co, Egypt's largest steel maker, to "buy" from "sell" on valuation and said it views any fall in the share price from current levels as a good entry point to the stock. EFG analysts Ahmed Shams El Din and Rita Guindy cut their fair More I...

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JCB India launches 150 HP diesel engine ecoMax

Construction equipment manufacturer JCB India announced the launch of its own domestically built world, BSIII, 16 valve diesel engine ecoMax to power its equipment range. The company has invested Rs 130 crore in developing this engine, which will be produced from its Ballabhgarh facility in More I...

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New power transmission regime in the offing

BL reported that a new inter state transmission charge norm is in the offing, which could make it relatively cheaper for upcoming power projects, especially large, inter state projects, to wheel the generated electricity to customers across regions. The Central Electricity Regulatory More I...

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Steel Strips Wheels achieves highest sale in March

Engaged in the manufacture and sale of automotive wheel rims, Steel Strips Wheels Ltd has achieved highest sale of 911,000 steel wheel rims during March, 2011 as against 750,000 in the same month of previous year, recording a growth of 21.46%. The company has also achieved a production of More I...

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