Zaporizhia state titanium company deal with Chinese

Ukrainian Journal reported that Zaporizhia titanium magnesium mill state company, which is under the management of the Ukrainian Industry Ministry has agreed with representatives of Chinese companies to sign framework contracts for the supply of 200 tonnes of titanium plates by the end of 2009

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Ukrainian shipbuilding sector needs UAH 20 billion

Ukrainian Journal cited Mr Volodymyr Novitsky Industry Minister of Ukraine as saying that the need for investment in the technical re-equipment of the Ukrainian shipbuilding sector over the next 5 years to 7 years is estimated at some UAH 20 billion.

He said that the upgrade of the sector

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Altai Koks ready to pay the dividends.

AK&M reported that Altai Koks BOD recommended a sole holder to affirm the decision on the dividends payment on common stocks at RUB 2 par. The payment should be provided out of the 2008 net profit.

Altai Koks is included into NLMK Group from April 2006. It is a modern industrial complex for


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Gazprom warns Ukraine over payment

The Moscow Times reported that Gazprom feared that Ukraine would not pay in full for May gas deliveries and threatened to make Naftogaz pay in advance for supplies.

The two sides failed to agree on how Ukraine's underground storage facilities would be filled and who would pay for it.

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CIS scrap price continues to climb

It is reported that in the third week of May, scrap price continued to go up on the Russian market. A part of the mills in the Ural and central Russian have lifted their purchasing price for scrap.

As per report, in addition currently the scrap prices are almost the same at all areas in

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Slowdown signs - Russian fuel and minerals extraction dips by 3.2%

Prime-Tass reported that index of fuel recourses production in Russia in January to April 2009 made 96.8 % of January to April 2008. Index of recourses production except fuel made 92.8 %.

According to the report, oil and gas condensate extraction volume in Russia in January to April 2009

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Macroeconomic indicators - Ukrainian GDP fell by 23% in Q1

Ukrainian Journal cited Mr Viktor Yushchenko President of Ukraine as saying that Ukraine’s economy, hit by the global financial crisis, may have contracted 23% on the year in the Q1 and is perhaps the fastest shrinking economy in Eastern Europe.

Mr Yushchenko said in a statement that

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Chinese imports of refined copper and aluminum hit high in April

It is reported that China’s imports of refined copper have increased for three consecutive months reaching the highest point in April this year; aluminum imports have increased four fold.

Refined copper imports increased by 148.9% in April reaching 31.7947 million tonnes up by 7.1%

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Yalian Steel announces Q2 financial and operational results

Yalian Steel Corporation has announced its financial and operating results for the 3 and 6 month periods ended March 31st 2009. It was incorporated in June 2008 and completed its qualifying transaction and began trading as a public company in December 2008. Therefore, there are no comparative

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Ukrainian Centravis increases CR stainless steel capacities

SteelOrbis reported that the Ukrainian seamless stainless steel tube producer Centravis Production Ukraine located in Nikopol city has announced the successful testing of its new cold rolling tube mill KPW-25 supplied by leading German producer SMS MEER. The total investments in the mill

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Nickel excess in the world in 3 months reaches 56600 tonnes

According to World Bureau of Metal Statistics report, there is 56600 tonnes excess in the global market in the first three months of 2009. At the same time nickel production in the period decreased by 6.3 % YoY having made 316500 tonnes.

The demand for refined nickel in January to March

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European stainless steel price may rebound soon

European stainless steel sheet market participants generally expected that prices are likely to rebound in the end of May.

They also believe that long-drawn-out phenomenon which suppliers reduce the inventories will end in the third quarter. Though the demand is still weak, European steel

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Macroeconomic indicators - State weight in Venezuelan economy at 29.5% of GDP

El Universal reported that the Venezuelan government is working to create an economic model with a diminished private sector.

Aiming at diminishing the private sector of the economy, Mr Hugo Chávez's administration is advancing a plan to expand the state grip. So far, major Venezuelan

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Toyota denies report on possible GM hybrid deal

Toyota denied a Japanese media report on Monday that it was studying a possible deal to offer its hybrid technology to General Motors Corp if the US automaker expresses any interest.

Toyota, maker of the Prius, the world's top selling hybrid, denied it was now considering such a deal but

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Romania asks ArcelorMittal Galati to invest in new coke oven

Curierul National reported that Romanian Authority for State Assets Recovery will support the measures to cut costs and to streamline the activity of ArcelorMittal Galaţi plant, which announced it would shut down the Coke Chemical Plant, if the ArcelorMittal commits to invest in a new

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Downsizing deals - ArcelorMittal top brass to take 15% pay cut

PTI reported that VP and above of ArcelorMittal would take a pay cut in an added effort to contain cost this fiscal.

A spokesperson for ArcelorMittal told PTI in an email response that "The company believes in solidarity and a 15% unanimously agreed cut by senior management was a

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Update on pickling line fire at BlueScope Western Port plant

Australia’s largest steel makers BlueScope Steel announced that the principal damage from the fire at the Western Port Pickle Line facility is limited to the four pickle tanks and to the roof of the building and other equipment in the Pickle Line building was largely untouched by the

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Monday Market Monitor - Scrap (WEEK 21) - On down trend

Scrap prices were stable at some places but they also exhibited weakness at Rotterdam and in India during last week.

Turkish Import - No change reported

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EU steel demand dips by almost 50% in Q1 - EUROFER

EUROFER’s April’09 report on the Economic and Steel Market Outlook 2009-2010 illustrates in detail the dramatic impact of the economic crisis on the EU manufacturing and construction sectors. The sharp decrease of activity in the steel using industries translated into a drop in EU

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Monday Market Monitor - EU (WEEK 21) - Italian recovery points to bottoming

EU economy is one of the worst economies in the world and the scenario is therefore quite negative without any real signs of a possible recovery. But some steel price movements in last week suggest that steel sector is turning back to a positive trend, although there are many contradicting

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China Resources plans to increase wind power capacity

Bloomberg reported that China Resources Power Holdings Co the third-largest Hong Kong-listed mainland electricity supplier by market value plans to expand its wind-power capacity by more than four-fold to tap demand for cleaner fuels.

Mr Wang Xiaobin Chief Financial Officer of China

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Angang new SBQ plate authorized by five countries

It is reported that Chinese Anshan Iron & Steel Group ship hulls and marine oil production platform used steel products were accredited by 5 countries classification society in early May.

Co-developed by Angang and Beijing Iron & Steel Research Institute, the steel products feature high

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Baosteel and POSCO to strengthen bilateral cooperation

Source from Baosteel said officials from POSCO and Baosteel had a senior meeting in Shanghai recently.

Mr Xu Lejiang the chairman of Baosteel said "The global financial crisis has affected the physical economy negatively we believe our two sides should strengthen the cooperation in both

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Stimulus plans - China to expand subsidies to auto and home appliances

It is reported that China's government is expanding trade in subsidies for vehicle purchases fivefold and widening the program to include home appliances to sustain growth in the world's third-biggest economy as exports slump.

The State Council said in a statement that the government will

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Chinese mills hike HDG export offer to SEA

It is reported that Steel export in China has seen some recovery as price difference between Chinese and global resources are narrowing down.

And following the domestic price increase, Chinese steel mills and traders also hiked the HDG export offer by USD 30 per tonne.

The current

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Iron ore price negotiations - China not giving ground

Reuters quoted an industry executive that China's steelmakers have not given any ground in benchmark iron ore price talks and said that they could soften their insistence on a 40% price cut.

Mr Shan Shanghua secretary general of the China Iron and Steel Association said "The position of

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Mr Lejiang urges Chinese steel mills to raise competitiveness

It is reported that recently, Mr Xu Lejiang president of Baosteel Group, has said on a conference that Chinese steel mills should raise confidence and competitiveness. Chinese steel makers should put their emphasis on how to promote quality and service.

This year, Chinese steel exports are

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BDI rises to 7 month high as Chinese demand advances

Bloomberg reported that the Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore.

Mr Brian Jackson senior strategist at the Bank of Canada in Hong Kong said China’s imports of iron ore, used in

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Chinese province wise CR wide strip output in 4 months

It is reported that China province wise CR thin and wide strip during January to April total 5.91 million tonnes which Shanghai top the table.

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China stockpiles are new sovereign wealth strategy - RBC

Bloomberg quoted the Royal Bank of Canada as saying that China is stockpiling commodities such as copper and iron ore as part of a reallocation of its sovereign wealth amid concern that the value of its dollar assets may decline.

Mr Brian Jackson senior strategist at Royal Bank of Canada in

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Medium plate price to rise to CNY 3600 per tonne in mid June

According to Mr Luo Xiaoshun GM of Shanghai Shunma Industry Co Ltd, one of local professional medium plate traders, medium plate market will see a rebound in mid June with price for 16mm to 20mm up over CNY 100 per tonne to CNY 3600 per tonne since outputs are likely to be controlled due to

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Shanghai copper down by 2% on oversupply worry

Reuter reported that Shanghai copper fell nearly 2% recently as investors worried that an oversupply may be emerging in China, with copper imports expected to stay high while demand drifts to seasonal lows.

Analysts said after record high imports of copper in April, China is likely to see

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Baosteel to issue bills of CNY 20 billion

National Association of Financial Market Institutional Investors notice shows that after receiving loans from Bankcomm and CCB, Baosteel Co Ltd is approved again to issue CNY 10 billion medium term bills with the term not more than 7 years and CNY 10 billion short term bills with the term not

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CHISPI - Barometer for domestic steel prices in China

Amidst the currently prevailing volatile and speculative global steel price scenario, SteelGuru.com has started the much needed barometer to track and measure the domestic steel price movements on daily basis in China.

In order to provide a index for steel prices, we call it SENSEX for

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Anhui Province releases steel adjustment and support plans

It is reported that East China's Anhui province has lately hammered out adjustment & support plans for local steel industry, which brings new chances to speed local steel development and redressal.

With projection period covering 200 to -2011 and prospect spanning to 2020, local government

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Section market likely to continue upward trend in short run

According to Mr Xu Huihuang General Manager of Shanghai Yebao Materials Co Ltd that the section market has eyed a slight growth after entering May. Nowadays, the demands have been further released as the market is resuming. Many traders all believe the market is likely to postpone the upswings

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Approval to ease traffic congestion in Makkah by light rail service

The Saudi Gazette reported that 4.5 kilometers dual track Light Rail service with a load capacity of 60,000 passengers per hour has been approved to ease traffic congestion in Makkah.

Mr Munir Hasan Abbas Sindi GM of Doroob Company said that the light train will run all year from Shesha to

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JGC Corporation lowest bidder for Gassi Touil gas plant

It is reported that Japan's JGC Corporation has submitted the lowest bid, about USD 1.5 billion for the contract to build an upstream gas processing plant at the Gassi Touil basin in eastern Algeria.

The UK's Petrofac, JGC's only competitor in the bidding round, submitted a price more

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MEASPI - Barometer for steel prices in Middle East Asia

Amidst the currently prevailing volatile and speculative global steel price scenario, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis in Middle East.

In order to provide a index for steel prices, we call it SENSEX for steel,

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Dana Gas achieves revenues of AED 247 million in Q1

Dana Gas PJSC has announced quarterly results to March 31st 2009, posting revenue from sale of hydrocarbons of AED 247 million. This 9% decrease over the same period by 2008, from similar production volumes is due to lower LPG and Condensate realized prices, though the relatively constant

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Erdemir increases HR domestic prices by USD 10 per tonne

Erdemir has responded to the slight revival in the Turkish market for flat products and increased its base prices for June production.

In particular, domestic base prices of the mill for HR coils have risen by USD 10 per tonne to USD 420 per tonne EXW excluding 18% VAT.

CR coils and

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Iran and Pakistan finalize pipeline deal next week

Mehr News Agency cited the special representative Mr Hojjatollah Ghanimifard oil minister of Iran as saying that Iran and Pakistan will hold the last round of the Peace Pipeline talks in Tehran next week.

Mr Hojjatollah Ghanimifard said that a Pakistani delegation headed by Mr Asim Hussain

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Shanghai may open futures market to overseas investors

Reuters reported that the government of Shanghai, China's financial hub will consider allowing foreign investors to participate in its futures markets and other steps to liberalize and diversify its financial markets. It's part of the city's plan to become a global financial center by

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Rays of recovery - Chinese ship output in Q1 up by 54% YoY

China Mining reported that quoted statistics released by the Ministry of Industry and Information Technology, Chinese shipbuilders built 9.54 million deadweight tons of ships from January to April up by 54% on year.

Major ship builders of the country posted CNY 156.8 billion of output

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US currency bill tempts protectionism - China

Reuters reported that China rejected claims it has manipulated yuan exchange rate policies to tilt trade flows against the United States that proposed legislation before the US Congress could stoke protectionism.

Chinese Foreign Ministry spokesman Ma Zhaoxu made the statement in response to

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Baosteel May orders from auto sector sets monthly record high

China Mining reported that China's largest steel maker Baosteel steel orders from auto sector hit a new monthly record of 937,000 tonnes in May up 317,000 tonnes or 50% over April.

According to Baosteel, its subsidiary company, Shanghai Baosteel International Trade Co, sold 285,000 tonnes

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Monday Market Monitor - China (WEEK 20) - Steady improvement

Chinese Steel Prices showed consistent improvement last week with average gain of 2.2%. The Chinese Long Product Price Index CLPPI improved by 113 points, whereas the Chinese Flat Products Index CFPPI improved by 121 points. The overall price index CHISPI too improved by 117

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GEM receives 14th vessel from Hyundai Mipo Dockyard

Gulf Energy Maritime, which is partly owned by Oman Oil Company, is halfway through receiving all its new vessels for this year and a step closer in achieving all its targets for 2009, following the delivery of another new vessel named Gulf Rastaq.
Built by Korea’s Hyundai Mipo

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PEPCO announces 12 hour load shedding for steel mills

The Pakistan Electric Power Company has announced five to twelve hours load shedding in the steel mills and textile industries due to the sudden rise occurred in demand of electricity in the country.

Mr Muhammad Khalid a spokesman of PEPCO said that earlier, the textile industry was

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Slowdown signs - Alba puts plans to boost capacity on hold

Reuters reported that Aluminium Bahrain has put plans to boost its production capacity to 1.2 million tonnes per year on hold due to a shortage of gas needed for power generation.

Mr Musaad Abdullah al-Eid General Manager of marketing at Alba said that the company is currently operating at

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Iraq says building oil pipeline for Jordan not feasible

Mr Hussain al-Shahristani oil minister Iraq said that construction of a pipeline to Jordan was currently not feasible because the main pipeline between Kirkuk and Banias on the Mediterranean was inoperative.

Mr Al-Shahristani said that “Any pipeline to Jordan should be a branch of the

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Heritage Oil hits big oil in Iraq

Pipeline Dubai reported that small British independent Heritage Oil has struck the first major oil find in Kurdistan with the discovery of up to 4.2 billion barrels of oil in the northern Iraqi region.

Heritage said that its Miran West field could be producing 10,000 to 15,000 barrels of

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Jacobs wins Rabigh USD 1.5 million contract

TradeArabia reported that Jacobs Zate has been awarded a general engineering services contract by the Rabigh Refining and Petrochemical Company for its USD 15 billion facility.

Petro Rabigh, a JV between Saudi Aramco and Sumitomo Chemical, is the largest integrated oil refinery and

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Saudi Oger readying for USD 7.2 billion projects

Reuters reported that Saudi Arabian construction company Saudi Oger had USD 7.2 billion in building contracts under execution and planned to expand into Bahrain and Oman to diversify its revenues.

Mr Ali Kholaghassi vice president of privately held Oger said that investors and homebuyers

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TAQA Q1 2009 financial results

TAQA Abu Dhabi National Energy Company PJSC a publicly listed company on the Abu Dhabi Securities Exchange reported financial results for the first quarter of 2009.

Key highlights:

1. Total revenue reached AED 4.2 billion compared with AED 4.0 billion for the same period in 2008, an

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Turkmenistan chooses Siemens as technology partner for infrastructure

Finchannel reported that Turkmenistan intends to drive the expansion of its infrastructure with the help of Siemens technology. This decision was finalized in Ashgabat, the country’s capital, by representatives of the Turkmen government and Siemens.

Mr Siegfried Russwurm who is


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USD 14.5 billion investment needed in Pakistani energy sector

Speakers at a consultative group meeting on energy efficiency and conservation highlighted that Pakistan needs USD 14.5 billion investments in the energy sector in 10 years. Sponsored by the Asian Development Bank, the conference was informed that Pakistan offers huge potential for investment

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Expansion of Dubai Metro will depend on the economic situation - RTA

Khaleej Times quoted a senior Roads and Transport Authority official as saying that the construction of the Blue and Purple Line of the Dubai Metro will depend on the economic situation of the region.

Mr Adnan Al Hammadi director of Rail Projects Construction at the Rail Agency said that

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China builds 9.54 million DWT ships during January to April

According to Ministry of Industry and Information, China has built 9.54 million DWT ships in the first four months soaring 54%YoY.

Data shows that shipbuilding enterprises above designated size has created CNY 15.68 billion of gross industrial output value from January to April up by

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Tianjin Pipe to sell CNY 500 million short term financing bills

It is reported that Tianjin Pipe Corporation was noticed on May 13th that National Association of Financial Market Institutional Investors had accepted their registration of fist tranche of short term financing bills. China Industrial Bank acts as the lead underwriter.
The total issuing

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Hanzhong Steel to lead integration with Lueyang Steel

It is reported that the framework agreement of Hanzhong Steel's reconstruction was signed on May 7th in the meeting held by Hanzhong Govs in order to speed up local steel industrial combination.

The meeting decided to launch Hanzhong Iron & Steel Co ltd based on the present Hanzhong Steel

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Hebei based steel mills plans to offset export volume losses

It is reported that, Hebei province is mulling over to enhance the sales revenue by developing new market due to the shrinking export demands.

As per report, Hebei steel industry was engaged in preparation. How to search for turning points amid the crisis is the big problem in front of the

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Slowdown signs - 2010 to be most risky year for China shipbuilders

According to Ms Bao Zhangjing chief-analyst of China Ship Industrial & Economical Research Center expresses her prediction that "2010 will be the hardest year for Chinese shipbuilder since the most problems will show up during the period."

During 2010, ship-owners are expected to be

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Chinese medium plate export price increase

It is reported that China's export price of medium plate increased USD 10 per tonne to USD 15 per tonne reaching USD 445 per tonne to USD 485 per tonne. It is believed the demand recovery in the domestic market is the major reason that pushed up the export price.

The latest offer for Boron

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Baosteel Meishan forms 3.5 million tonnes per year steel capacity

It is reported that Baosteel Meishan Iron & Steel Co has lately ignited its No. 4 blast furnaces, sending its total steel production capacity to 3.5 million tonnes per annum.

The operation of the furnace laid a solid floor for Meishan Steel to forge a prime carbon steel production base for

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China seeks to limit loans to obsolete steel mills - CISA

Bloomberg quoted the China Iron and Steel Association said China, the world’s largest steelmaking nation, has requested that banks restrict loans to companies operating obsolete steelmaking capacity.

Mr Shan Shanghua the association’s secretary general said the Ministry of

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China Q1 finished steel output and beyond 20 million tonnes for wire rods

According to a survey by the Japan Iron & Steel Federation, China's manufacture of finished steel products totalled 144,730,000 tonnes in January to March 2009 up by 2.8%YoY from the same period of 2008, when wire rods accounted for more than 20 million tonnes in high production growth of

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MIIT to specify detailed list for inefficient capacity closure

It is reported that Chinese government is planning to further specify the detailed list of mills and equipments that should be closed after lifting up the threshold for capacity closures.

The Ministry of Industry and Information Technology put forward in the urgent circular issued to local

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Production pruning - Order targets medium and small steelmakers

According to an urgent announcement circulated by China's Ministry of Industry and Information Technology, China's steel industry has been ordered to curb output with banks instructed to cut or even halt financing for steelmakers wanting to expand production regardless of market

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CISA suggests AD investigations on surging steel imports

It is reported that China Iron & Steel Association has suggested central government take countermeasures against surging steel imports such as anti-dumping investigations.

China exported 1.41 million tonnes of steel products in this April the lowest record since November of 2005 down by 71%

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Chinese Steel export further drop in April while import increase

According to the latest statistics of Customs, the export of China's finished steel products dropped to 1.41 million tonnes in April down by 15.6% from March or 70.5% from that of last year. This is the forth consecutive month that China steel export stayed below 2 million tonnes reaching the

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China April steel output keeps steady pace

Alibaba reported that China's crude steel production held relatively steady at 43.41 million tonnes in April from March reflecting limited cutbacks in output despite slower economic activity in the world's largest steel-making country.

The National Bureau of Statistics said monthly crude

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Production pruning - China steel sector to cut output on ministry order

21st Century Business Herald reported that China’s steel industry has been ordered to curb output with banks instructed to cut financing for companies wanting to expand production.

The report said, citing no one that the Ministry of Industry and Information Technology will ask

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Suzlon Energy updates ! Suzlon Energy updates

With reference to earlier announcement dated May 4th 2009, Suzlon Energy Limited has informed BSE that it has completed the allocation process for the Bonds as per the terms described in the Consent Solicitation and Offer Memorandum dated April 20th

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IOC may tie up with US lab to produce bio fuel

BS reported that the green theme of the Obama administration will soon be reflected on India as well. The government owned Indian Oil Corporation is tying up with US based National Renewable Energy Laboratory for a pilot project to produce second generation biofuel.

This biofuel

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Lincoln Electric Chennai plant commences operations

Projects Today reported that Lincoln Electric Company's India welding consumables facility in Chennai has commenced operations on May 11th 2009.

As per report, it has invested USD 20 million for setting up its first welding consumables manufacturing unit in India. In Phase I of operations,

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ONGC plans CAPEX for offshore fields

Projects Today reported that ONGC has chalked out an investment plan of INR 6,000 crore to invest in Western and Eastern Offshore fields to raise output in this fiscal.

The total CAPEX is expected to be funded through internal accruals. Currently, the company is developing its Eastern

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DVC to raise funds for Bokaro project

Projects Today reported that Damodar Valley Corporation is likely to increase INR 2,000 crore through in order to fund Phase I of the proposed 500 MW Bokaro supercritical project in Jharkhand.

DVC has already initiated talks with Power Finance Corporation, Rural Electrification Corporation,

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Birla Power mulls foray into diesel engine manufacturing

BS reported that Birla Power Solutions is thinking over a foray into the diesel engine segment through an acquisition in the range of INR 5 billion.

As per report, Birla is in discussions with 4 to 5 domestic and overseas companies, mostly in the unlisted space and hopes to enter the

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CEA nod for NTPC and DVC power equipment order

Projects Today reported that the Central Electricity Authority has given the techno-economic clearance to NTPC and Damodar Valley Corporation to buy power equipment worth INR 21,000 crore for their proposed thermal power generation plants.

As per report CEA has settled all issues pertainingt

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Maruti Suzuki India to increase R&D headcount

PTI reported that Maruti Suzuki India will be increasing headcount in its R&D division to 1,000 by the end of March 2010, as the firm gears up to meet parent Suzuki Motor Corp's aim of making the Indian subsidiary global hub for small car development.

Mr IV Rao managing executive officer

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GMR Holdings hikes stake to 73.45% in GMR Industries

PTI reported that GMR Holdings has hiked its stake in GMR Industries to 73.45% after purchasing fresh shares through an open market transaction.

GMR Industries in a filing to the Bombay Stock Exchange said that the flagship company of the GMR Group said its promoter has purchased 5.36

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Rays of recovery - Indian car sales in April up by 4.2%

According to an industry body, car sales in India rose an annual 4.2% in April, helped by improving financing and demand from rural markets. Companies sold 102,899 cars during the month, compared with 98,752 cars a year ago, data from the Society of Indian Automobile Manufacturers

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Pencil Ingot prices dip by 1% at most locations in India

Despite improved long product prices, pencil ingot prices demonstrated weakening at most of the locations in India on May 11th 2009.

Pencil ingot

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Sponge prices reverse by 1% in Raipur

Sponge Iron

Location Change

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Scrap prices dip by 1% in Mandi

Melting scrap
80:20
HMS
Location Change

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Patra and HRC improves by 1% at Ludhiana

Flat product prices remained stable at most of the locations in India on May 11th 2009 with minor improvement in select locations.

Ludhiana
Category

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JSW Steel opens 4 shoppes in Bangalore

It is reported that JSW Steel continues to expand its steel retail footprint in Karnataka. As part of its ongoing foray into retail exclusive shoppes, JSW Steel today inaugurated its fourth JSW Shoppe in Bangalore in Dobaspet Industrial Area through their authorized distributor Bangalore Steel

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TMT and structural steel prices rally at some locations in India

The long product prices remained resilient on May 11th 2009 although it was not widespread being concentrated in small trading locations.

Delhi
CHNL

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Essar Steel plans overseas retail expansion

Projects Today reported that Essar Steel is planning to invest INR 300 crore to expand its global chain of retail brand, Steel Hypermarts in Indonesia, Middle East and other South Asian nations in the next 3 years.

Essar which already has 2 retail outlets in Indonesia intends to scale up

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Country wise details of HR imports into India in 2008-09

HR imports into India during April 2008 to March 2009 dipped by 21.5% YoY.

China accounted for lions share with 0.870 million tonnes.

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JSW April crude steel jumps by 60%

JSW Steel Limited reported a growth of 60% in crude steel production for April 2009 compared to that of corresponding month in the last fiscal year. The robust growth in production is mainly attributable to the production from 2.8 million tonne per annum expansion project at Vijayanagar

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Indian Steel prices - Week starts on a firm note

The domestic Indian Steel prices remained stable on May 11th 2009. The Indian Long Product Price Index ILPPI improved by 7 points, whereas Indian Flat Product Price Index IFPPI corrected by 1 points. The overall Indian Steel Price Index INDSPI increased by 4 points.

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India defers decision on safeguard duty on HRC by 2 months

PTI reported that the Indian government has deferred decision on a proposal to impose safeguard duty on HR by two months, saying the matter needs to be examined further after taking views of the consuming industry.

Mr GK Pillai Commerce Secretary after a meeting of Standing Board on

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TATA Steel launches new brand of galvanized steel

ET reported that TATA Steel has launched a new brand of flat steel, named Galvano.

The new product represents a category of galvanized plain steel with zero spangles.

It will be available in sheet and coil forms and is aimed at expanding TATA Steel's footprint in the general engineering

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HZL reserves and resources increase

Vedanta Resources Group firm Hindustan Zinc Limited has announced that ongoing exploration activities have yielded significant success with an increase of 46.3 million tonne to its reserves and resources, prior to a depletion of 6.7 million tonne in FY 2009.

However, contained Zinc lead

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Indian steel majors strengthening retail presence

PTI reported that India's leading steel makers are ramping up their retail presence to reach out to en users directly.

JSW Steel plans to increase the number of its retail chain JSW Shoppe to 250 by the end of the current fiscal from 50 now. Mr Sajjan Jindal vice CMD of JSW Steel said

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CORUS and JLR acquisitions done at inopportune time - Mr TATA

PTI cited Indian business icon Mr Ratan TATA as saying that his 2 acquisitions Anglo Dutch steelmaker CORUS and British Marquee Jaguar Land Rover were done at an inopportune time.

In an interview published in the Sunday Times, Mr TATA admitted with hindsight that he might have gone too far

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Bangladesh rebar makers urge for hike in import duty

Financial Express reported that duty relaxation on the import of rebars appears to put the local steel and re rolling mills in Bangladesh in trouble as the measure will only encourage its dumping from the global market.

As per report, in the wake of import of MS rods from a foreign country,

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SAIL MTI and Siemens ink MoU for training workforce

PTI reported that SAIL has entered into an agreement with engineering major Siemens for upgrading technical skills of its human resource and for bringing down the maintenance cost.

SAIL in a statement said a MOU was signed between SAIL’s Management Training Institute, Ranchi and

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US DOC reviewing AD on silicomanganese from India

PTI reported that India, along with 14 other countries has been given a chance to present its case in the US against anti dumping duty, which has acted as a major trade barrier for export of Indian steel products to the American market since 2002.

Though, the review of the anti dumping duty

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Indian scrap importers, traders and users - Free listing

The Indian steel scrap market is quite defragmenter and not much information is available readily. We often get requests form our readers to provide such details.

To assist the players in the supply chain, we are preparing a directory containing the contact details of users, traders,

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TATA Steel sees flat growth in supplies to auto sector in 2009

BL reported that TATA Steel, which supplied 800,000 tonne to the auto sector last fiscal, a 12% fall from 900,000 tonne in 2007-08, expects flat supplies of steel to auto segment in India in the current financial year.

Mr Peeyush Gupta chief of Marketing & Sales Flat Products of TATA Steel

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Indian steel production up by 4% in April

PTI reported that backed by improved demand from auto and construction sectors, the country's steel production increased by nearly 4% to 4.49 million tonne in April compared to the corresponding month 2008. In April 2008, the finished steel production stood at 4.33 million tonne.

As per

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Monday Market Monitor - India (WEEK 19) - Sullen sentiments

Indian Steel Prices lacked vitality during last week. The Indian Long Product Price Index ILPPI slid by 18 points, whereas the Indian Flat Products Index IFPPI improved in equal measure with 13 points thereby keeping the overall price index INDSPI unchanged with a minor dip of 3

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UGSL sales in 2008-09 grows by 39%

Uttam Galva Steel Limited has reported a cash profit of INR 193 crore for the financial year ended March 31st 2009.

Uttam Galva in a release said that it has posted an increase of 39% in its net sales at INR 4372 crore for the year ended March 31st 2009 as compared to INR 3156 crore of the

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NALCO cuts bauxite output by 35%

India National Aluminum Company officials announced that their night workers stopped working after rebel attacks, this has led to the company's bauxite production falling by 35%, normal production of alumina may decline as well.

In order to maintain normal production levels of alumina, the

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S&P puts TATA Steel UK secured debt on watch

PTI reported that Standard and Poor's has kept its 'BB' issue rating on the GBP 3.67 billion senior secured debt of TATA Steel UK on credit watch with negative implications.

Mr Vasmin Wirjawan analyst of S&P's credit in a statement said that "The credit watch update reflects the

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Directory of Construction Companies in India

Published in August 2008, ' Directory of Construction Companies in India' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian Construction companies.
Whether you are a product manager, in charge of marketing, raw material seller, in equipment

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UGSL hiked steel price in phases since April

According to Mr Ankit Miglani director commercial of Uttam Galva Steels Limited, UGSL has raised prices of its galvanized steel products by INR 2,250 per tonne and cold rolled steel product prices by INR 1,000 per tonne. These price hikes have been in phases since April.

Mr Miglani told

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Pencil Ingot prices rallies by up to 2%

In reaction to improved long product prices pencil ingot prices demonstrated spectacular resilience touching peak of 2% in Kanpur.

Pencil ingot

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Sponge prices reverse by 1% in Raipur

Sponge Iron
Location Change

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Scrap prices corrects by 2% in Mandi:

Melting scrap
80:20
HMS
Location Change

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TATA Steel sees India demand rising 4.5% to 6% exec

Reuters reported that TATA Steel Ltd expects Indian steel demand to rise between 4.5% to 6% in the financial year to March 2010 and prices are likely to rise in the second half.

The report quoted Mr Anand Sen VP of TATA Steel said that "We have a positive outlook for steel demand in

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HRC and CRC improves by 1%

Flat product prices too rallied for the second consecutive day but the tempo was not widespread. The price hike announced by steel major this week seemed to have a tepid impact on the market sentiments.

Ahmedabad

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Minor fire reported in new coke oven battery of RINL

BL reported that a fire broke out in the Coke Oven Battery No 4 of Visakhapatnam Steel Plant resulting in partial destruction of a loco car cabin on Friday. No one was injured.

According to trade union sources, the mishap occurred when hot coke fell on the door extractor car cabin.

The

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Long product prices shed sluggishness

The long product prices regained resilience after a momentary lull to improve by up to 1% to 2% across the nation although there was isolated trough in Indore where it dipped by up to 2% but it could not dampen the vibrancy.

Kolkata

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Indian Steel Price Index- Week ends on a crest

The domestic Indian Steel prices remained resilient on May 8th 2009. The Indian Long Product Price Index ILPPI improved by 18 points, whereas Indian Flat Product Price Index IFPPI corrected by 4 points. The overall Indian Steel Price Index INDSPI rallied by 11 points.

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Termination of slab contract hits TATA Corus Teesside

TATA Steel’s European arm Corus announced that it has been forced to open consultations that might result in a decision to mothball its Teesside Cast Products plant in northeast England.

This development has become unavoidable because of a failure by four international slab buyers to

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Alstom or Siemens may join BHEL-NPCIL JV

Power equipment maker BHEL said on Thursday it is scouting for a third partner for its existing joint venture with the Nuclear Power Corporation and is in talks with foreign companies including Alstom and Siemens, for manufacturing turbines f or nuclear power plants.

Mr K Ravi Kumar CMD of

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REC short lists 6 firms for TLT project

Project Today reported that the Rural Electrification Corporation has reportedly short-listed six companies including Essar Power and Jindal Steel & Power to lay a 500 kilometer power transmission network worth INR 1,300 crore.

The transmission network to be carried out in a phased manner

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Gangavaram port targeting 15 million tonne cargo

BS reported that Gangavaram port has set a target of handling 15 million tonne cargo during this fiscal. The port has already tied up with Visakhapatnam Steel Plant in this regard and is in talks with other companies for cargos like iron ore, sugar, coking coal, thermal coal, and project

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NALCO plans to do away with explosives for bauxite mining

In view of the daring attack by over 300 Maoists on its bauxite mines here to loot explosives on April 12, aluminium major NALCO plans to use sophisticated technologies which does not require explosives for the extraction of bauxite from Panchpatmali mines.

NALCO also plans to spend INR 20

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Indian cement demand slows down in April

Cement demand seems to have tapered off in April, if the production and dispatch figures of major cement manufacturers are anything to go by.

As per report after a robust demand in February and March, Holcim group companies ACC and Ambuja Cement marginally added to inventories by selling

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Kolkata Dock handles record container traffic

Kolkata Dock System handled a record volume of containers, 30,800 TEUs, surpassing the previous best monthly throughput of 28,128 TEUs in August 2008. In April 2008, the throughput was 25,235 TEUs.

More than 52% of the containers handled in April this year were import load containers as

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JSW Steel announces changes in board

JSW Steel Ltd has informed BSE about following changes in the Company's Directorate:

1. Re designation of Director (Finance) & Director (Commercial):

Subject to the approval of the Members in their ensuing Annual General Meeting, the Board has approved the following:

Mr Seshagiri Rao

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Essar Steel opens service centre at Bahadurgarh

Business Line reported that Essar Steel launched its INR 75 crore third service centre at Bahadurgarh in Haryana on Wednesday. It will offer more customized steel.

Mr Ravi Singh VP Service Centre and Business Development of Essar Steel said that “Customers will not have to carry huge

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RINL to set up a ferroalloy plant through JV with MOIL

A JV agreement for setting up of a ferroalloy plant at Bobbili Growth Centre in Vizianagarm District of AndhraPradesh was signed on May 7th 2009 by Mr PK Bishnoi CMD of Rashtriya Ispat Nigam Limited and Mr KJ Singh CMD of Manganese Ore (India) Limited.

The plant would be set up on 100 acres

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JSW Steel reports Q4 net loss of INR 39.93 crore

JSW Steel Ltd has announced the financial results for the quarter & year ended March 31st 2009. The Company has posted a net profit after tax of INR 492.00 million for the quarter ended March 31st 2009 as compared to INR 3701.80 million for the quarter ended March 31st 2008. Total Income has

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Indian flat steel prices show downstream correction

The domestic Indian Steel prices remained stable o May 7th 2009. The Indian Long Product Price Index ILPPI by only 2 points, whereas Indian Flat Product Price Index IFPPI improved by 7 points. The overall Indian Steel Price Index INDSPI too remained stable with a gain of mere 5 points.

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TATA Steel crude steel production in April up by 22% YoY

TATA Steel announced that it has recorded a 39% increase in the sales of long products, used by the construction industry, in the month of April at Jamshedpur Works, over the same period last year.

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EADS and L&T to forge a long term partnership

EADS Defense & Security and Indian engineering giant Larsen & Toubro announced the planned formation of a joint venture company for defense electronics in India based in Talegaon near Pune. The new company will aim at design, development, manufacturing and related services in the fields of

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Details of semis imports into India in 2008-09

Semis (Including rerollable scrap)


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TATA Steel not to bid for iron ore project in Liberia

PTI reported that TATA Steel has shelved its plans of re bidding for the USD 1.6 billion iron ore project in Liberia.

A TATA Steel spokesperson told PTI that "The company has decided not to participate in the re-bid for the property.”

Asked about the reasons for it, he said there

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SAIL invites arrangers to bid for bond sale

Reuters reported that Steel Authority of India is looking to raise at least INR 5 billion through bonds and has asked arrangers to submit their bids on Friday.

Two merchant bankers said that SAIL is looking to sell five or 10 year bonds or a combination of both.

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JSW Steel plans 9 branded retail showrooms in Northeast

ET reported that JSW Steel Ltd plans to set up at least eight to nine exclusive branded retail showrooms in the Northeast. The company will also open two more retail showrooms in West Bengal.

As per report the company has set up its first retail showroom in the Northeast in Guwahati under

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TATA BlueScope to launch color coated steel in Kashmir

Rising Kashmir reported that TATA BlueScope Steel, a JV between TATA Steel and BlueScope Steel, will soon launch its color coated steel sheets in the retail segment. Branded as Durashine, the new range of color coated steel products is set to be introduced this month.

Mr Mohmamad Ismail

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Indian Steel prices-remain stable on 5th May

The domestic Indian Steel prices remained stable on May 5th 2009. The Indian Long Product Price Index ILPPI dipped by only 3 points, whereas Indian Flat Product Price Index IFPPI improved by 6 points. The overall Indian Steel Price Index INDSPI too remained stable with a gain of 1 point.

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CORSMA against safeguard duty on HR coils

BL reported that producers of cold rolled steel are opposing the move to impose safeguard duty on certain flat steel items, saying the proposal is based on misrepresentation of facts.

Under the aegis of the Cold Rolled Steel Manufacturers Association, the producers have written a letter to

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