MMK boosts iron ore production in 2010

By end 2010, Magnitogorsk Iron and Steel Works OJSC will have produced over 2.2 million tonnes of finished ore

2010 output exceeds last year results by 35%. In the recent years, MMK ore dressing plant was producing an average of 1.5 million tonnes per year of finished ore. In eleven months

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Wide steel plate price movement on Dec 28

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad 272

Bangalore 0

Chennai 907

Delhi 0

Indore 0

Kanpur 436

Kolkata -453

Mumbai 0

Raipur 436

Rudrapur 523



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

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Steel plate cuttings prices surges at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 600

Ship Scrap Melting Mixed 300


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

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Japan copper smelters to cut ingot supply for Asian buyers

Japanese copper smelters are concluding copper ingot price negotiation with Asian contract users for 2011 shipment.

The premium is USD 98 per tonne for users in Taiwan and South Korea and near USD 115 for Chinese users as premium setting by Corporaci’n Nacional del Cobre de

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Chalco to invest CNY 17 billion in Guizhou

China Knowledge reported that Chalco, or Aluminum Corp of China Ltd the nation largest aluminum producer and the world third largest alumina producer signed an agreement with the government of Guizhou Province to invest up to CNY 17.5 billion in the province.

The investment reflects the

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POSCO to hike stainless steel prices for January 2011

Reuters reported that South Korea's steelmaker POSCO will lift up stainless prices for major stainless steel products by 5.5% for January 2011 on rising raw materials costs and market situations.

Thus, the prices of hot rolled coil stainless steel price would rise by TWD 200,000 per tonne


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Developers seek final approval for former Utah Steel site project

AP reported that the developers of the Vineyard project in Utah County are seeking final approvals for tax breaks that will allow them to start installing infrastructure at the old Geneva Steel site.

As per report, the Alpine School District still has concerns about a redevelopment

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Japanese group completes acquisition of Vietnam spiral steelmaker

JFE Steel Corporation, Maruichi Steel Tube Limited and Toyota Tsusho Corporation announced that they have completed their joint acquisition of Vietnamese spiral steel pipe manufacturer Jeong An Vina Co Limited and officially restarted the company as J Spiral Steel Pipe Co Limited.

The

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TATA Steel to invest USD 500 million in its European arm

TATA Steel said that it will infuse USD 500 million in its European arm in the next fiscal and asserted that the new year will see its joint venture with Japan's Nippon Steel Corp bearing fruits.

Mr HM Nerurkar MD of TATA Steel said that "We are planning to invest USD 500 million in Corus


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Patra Narrow HR steel strips price movement on Dec 28

Patra


Location Change

Delhi 0

Ludhiana 0

Mandi 181


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

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Lukoil eyeing Liberia for new projects

Interfax reported that top managers from Russian oil company Lukoil Overseas, the operator of Lukoil extraction projects in other countries have visited three West African countries, notably Liberia.

One of their meetings was in the Ghanaian capital Accra where Lukoil Overseas President Mr

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Jiulong Power Plans CNY 1 billion private placement

It is reported that Chongqing Jiulong Electric Power plans to conduct a private placement of 185 million shares at CNY 9.17 per share in order to raise up to CNY 1.64 billion.

Funds raised will be used to purchase nine desulfurization assets at Pingdingshan, Henan province including two

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Kunlun Energy buys 60pct stake in PetroChina Beijing Natural Gas

China Knowledge reported that Hong Kong listed Kunlun Energy Co a subsidiary of PetroChina has won the bid to acquire a 60% stake in PetroChina Beijing Natural Gas Pipeline Co for CNY 18.87 billion from the parent.

Kunlun Energy said in a statement filed with the Hong Kong Stock Exchange

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Benxi Steel to rank first among Chinese producers for steel exports in 2010

According to Chinese customs, in the first 10 months of the current year Liaoning Province based Chinese steelmaker Benxi Steel exported 2,450,000 tonnes of steel products.

Meanwhile, Benxi Steel expects its steel exports to total 2,800,000 tonnes for the whole of 2010 which would

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Sojitz Corp ties up with Jiangsu Shagang Group

Bloomberg reported that Japan Sojitz Corp teamed up with Jiangsu Shagang Group Co China largest privately owned steelmaker as demand increases in the world’s biggest market for the alloy.

Mr Kenji Asano general manager at Sojitz steel business department said the alliance will cover

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S Korean firm to produce passenger cars in Saudi Arabia

Emirates 24x7 reported that a Saudi university has signed a deal with a South Korean firm to produce passenger cars. The South Korean concern is investing USD 500 million in the project.

Mr Abdullah Al Othman president of King Saud University said that the first car, a five passenger model,

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Iranian steel producers back subsidy reform plan

Iran Daily reported that steel producers of private sector have declared their support for the implementation of the Subsidy Reform Plan.

Mr Hamidreza Taherizadeh deputy head of the Association of Steel Producers said that the Subsidy Reform Plan has been ratified by government and all


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Indian long product market catches fire on year end

The prices of long steel products in Indian domestic market surged further by more than 1% on December 28th 2010 as buyers and stockiest rushed to the market to buy their requirements for January to avoid likely hike on January 1st 2010.

The Indian Long Product Price Index ILPPI surged by

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Japanese group completes acquisition of Vietnam spiral steelmaker

JFE Steel Corporation, Maruichi Steel Tube Limited and Toyota Tsusho Corporation announced that they have completed their joint acquisition of Vietnamese spiral steel pipe manufacturer Jeong An Vina Co Limited and officially restarted the company as J Spiral Steel Pipe Co Limited.

The


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TATA Steel to invest USD 500 million in its European arm

TATA Steel said that it will infuse USD 500 million in its European arm in the next fiscal and asserted that the new year will see its joint venture with Japan's Nippon Steel Corp bearing fruits.

Mr HM Nerurkar MD of TATA Steel said that "We are planning to invest USD 500 million in Corus

More Info

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Lukoil eyeing Liberia for new projects

Interfax reported that top managers from Russian oil company Lukoil Overseas, the operator of Lukoil extraction projects in other countries have visited three West African countries, notably Liberia.

One of their meetings was in the Ghanaian capital Accra where Lukoil Overseas President Mr

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Steel plate cuttings prices surges at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 600

Ship Scrap Melting Mixed 300


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

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Patra Narrow HR steel strips price movement on Dec 28

Patra


Location Change

Delhi 0

Ludhiana 0

Mandi 181


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

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Jiulong Power Plans CNY 1 billion private placement

It is reported that Chongqing Jiulong Electric Power plans to conduct a private placement of 185 million shares at CNY 9.17 per share in order to raise up to CNY 1.64 billion.

Funds raised will be used to purchase nine desulfurization assets at Pingdingshan, Henan province including two

More Info

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Kunlun Energy buys 60pct stake in PetroChina Beijing Natural Gas

China Knowledge reported that Hong Kong listed Kunlun Energy Co a subsidiary of PetroChina has won the bid to acquire a 60% stake in PetroChina Beijing Natural Gas Pipeline Co for CNY 18.87 billion from the parent.

Kunlun Energy said in a statement filed with the Hong Kong Stock Exchange

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Benxi Steel to rank first among Chinese producers for steel exports in 2010

According to Chinese customs, in the first 10 months of the current year Liaoning Province based Chinese steelmaker Benxi Steel exported 2,450,000 tonnes of steel products.

Meanwhile, Benxi Steel expects its steel exports to total 2,800,000 tonnes for the whole of 2010 which would


More Info

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Sojitz Corp ties up with Jiangsu Shagang Group

Bloomberg reported that Japan Sojitz Corp teamed up with Jiangsu Shagang Group Co China largest privately owned steelmaker as demand increases in the world’s biggest market for the alloy.

Mr Kenji Asano general manager at Sojitz steel business department said the alliance will cover

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S Korean firm to produce passenger cars in Saudi Arabia

Emirates 24x7 reported that a Saudi university has signed a deal with a South Korean firm to produce passenger cars. The South Korean concern is investing USD 500 million in the project.

Mr Abdullah Al Othman president of King Saud University said that the first car, a five passenger model,

More Info

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Iranian steel producers back subsidy reform plan

Iran Daily reported that steel producers of private sector have declared their support for the implementation of the Subsidy Reform Plan.

Mr Hamidreza Taherizadeh deputy head of the Association of Steel Producers said that the Subsidy Reform Plan has been ratified by government and all


More Info

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Indian long product market catches fire on year end

The prices of long steel products in Indian domestic market surged further by more than 1% on December 28th 2010 as buyers and stockiest rushed to the market to buy their requirements for January to avoid likely hike on January 1st 2010.

The Indian Long Product Price Index ILPPI surged by

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ICVL has muscle for Riversdale bid - Mr Bhattacharyya

An Indian state consortium has the financial strength to fund a possible rival bid for Africa focused coal miner Riversdale.

Mr PS Bhattacharyya chairman of Coal India said that the consortium, International Coal Ventures Ltd was awaiting a recommendation from its adviser Citigroup on


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Japanese aluminium shipments in November up by 11pct YoY

Reuters reported that Japanese shipments of aluminium products rose 11.4% in November from a year earlier to 183,613 tonnes for the 12th straight month of YoY gains helped by firm exports and demand for use in beverage cans.

Data provided by the Japan Aluminium Association showed that the

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Chinese stainless steel raw materials purchases to enlarge risk factors

TEX reported that the substantial quantities of raw materials, mainly nickel and chrome, for production of stainless steel purchased by stainless steel mills of China are in the direction to enlarge further the risky factors in relation to the competitions with stainless steel mills of the

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Feng Hsin hikes scrap purchasing price by TWD 200 a tonne

Taiwan's Feng Hsin has announced to hike its prices again. As the scrap purchasing price rose by TWD 200 per tonne, its rebar price increased slightly by TWD 300 per tonne to TWD 21,000 per tonne, however its price of H section kept unchanged at TWD 22,100 to 22,300 per tonne.

Market

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Patra Narrow HR steel strips price update on Dec 27

Patra


Location Change

Delhi 442

Ludhiana 0

Mandi 272



Change is on 27th December as compared to 24th December 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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ArcelorMittal and its 3 units cartel fine suspended - EU

The European Commission said that three units of ArcelorMittal SA had their share of a EUR 230.4 million cartel fine suspended temporarily after they filed an appeal at the European Union's top court.

ArcelorMittal and its three units ArcelorMittal Wire France, ArcelorMittal Verderio and

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METI sees Japanese Q1 2011 steel demand up QoQ

Reuters reported that Japan's demand for steel products for the January to March 2011 period will be up by 0.2% QoQ from the current quarter. From the year ago quarter, demand will be down 0.3%.

A survey by the Ministry of Economy, Trade and Industry of domestic steel users such as

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Metro builder sold for USD 250 million and bid contested

The Moscow Times quoted the Federal Property Management Agency said a company linked to businessman Mr Valery Abramson won the bidding to buy a Moscow subway builder that could benefit from a planned increase in spending on subway construction.

But engineering company E4 said immediately

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Mechel to open 2 representative offices

Mechel announced the Board of Directors’ decision to open its official representative offices in the Southern Federal District and the Amur Region.

The decision to open Mechel OAO representative offices in the Southern Federal District city of Rostov on Don and the Amur Region city of

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Chinese domestic steel billet price update on Dec 27

Billets
150*150
Q235


Location In CNY In USD

Fujian 0 0

Liaoyang -71 -11

Linfen -65 -10

Linzhou 0 0

Shandong 0 0

Tangshan -58 -9

Tianjin -71 -11

Zibo 0 0

Average -33 -5


Change is on 27th December as compared to 24th December 2010
Change is per tonne
USD:CNY = 6.63

To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.

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PetroChina and Shell start drilling Shale Gas well in Sichuan

Dow Jones reported that China top listed gas producer PetroChina Co and energy major Royal Dutch Shell PLC have started drilling the first evaluation well at the Fushun shale gas block in Sichuan province.

The move marks a milestone of the two companies shale gas cooperation, 13 months

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Sinopacific celebrates end of a billion dollar year

It is reported that Sinopacific Shipbuilding Group which describes itself as China leading private shipbuilding company.

By the end of November it had delivered 54 vessels totaling 1.8 million DWT in 2010 with a backlog of 4.2 million DWT worth of orders still in the pipeline.

A


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China hikes interest rates for second time in 3 months

It is reported that China central bank recently raised interest rates for the second time in three months as authority ramp up efforts to curb borrowing, rein in property prices and tame inflation.

The People Bank of China said in a brief one line statement that it will raise the one year

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Kuwait budget surplus widens to KWD 6 billion in 8 months

Reuters reported that Kuwait's budget surplus widened to KDW 6.04 billion in the first 8 months of the 2010 fiscal year on higher than forecast oil revenues and lower spending. The fiscal year in Kuwait starts in April.

Data at the finance ministry website www.mof.gov.kw showed that

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New galvanized steel producing plant launches in Iran

According to a report released by IMIDRO's PR, 400,000 tonnes galvanized sheet producing plant was officially launched in the presence of Mr Mahmoud Ahmadinejad minister of industries and mines also CMD of IMIDRO, as well as the directors of automotive plants.

The plant is one of the


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Riverfront project meanders on as the Hooghly

The proposed Hooghly riverfront project, which holds out a promise to change Kolkata, its economy and life, is taking shape, but slowly like the meandering river itself.

Officials involved in the project told Business Line after six months of official announcement for the project, to be


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Maruti sales may rise by 31pct in FY11

India's top car maker Maruti Suzuki expects sales in this fiscal year to rise 31% from a year earlier.

A top executive said that as vehicle demand surges in Asia's third largest economy. The forecast is higher than Maruti's estimate in September, when it said it expected to sell 1.2

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Indian Long product market drapes in Christmas color

The long product prices continued its onward journey after momentary corrections as witnessed towards the end of last week. The velocity already set ascendant since December 10th there seemed no end to the progression.

Finally in the pink of construction season there has been some activity

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Competition is way to reduce steel price in South Africa - Report

There has been much activity in the South African steel industry recently. The Steel Authority of India Limited is in talks with a South African parastatal about a joint venture plant in SA. Last week, Mr Lazarus Zim cryptically said he was going into the steel business and had resigned as


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Monday Market Monitor - Scrap - WEEK 51 - Is it inching to USD 500 mark

It is reported that steel scarp prices continued to gain this week, primarily due to winter related issues on supply side restricting the availability.

As per market reports, some transactions have happened at levels beyond USD 470 CFR for HMS 80:20 and beyond USD 480 CFR for shredded form

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Gazprom cuts output forecast to 570 billion cubic meters to 580 billion cubic meters by 2015

RIA Novosti citing Mr Valery Golubev Deputy Chairman of the Management Committee as saying that Russia gas giant Gazprom will cut prices for Estonia, Latvia in 2011 by 15% if gas deliveries there are increased to pre-crisis levels.

He said that "Gas prices for Latvia will be lowered

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Russian auto parts makers to get government support

According to Mr Oleg Deripaska Russian tycoon head of the metals-to-timber conglomerate Basic Element the Russian government will grant several hundred million euros to support domestic auto parts producers.

Earlier on Thursday Mr Vladimir Putin Russian Prime Minister discussed support for

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China Railway Group plans to sell up to CNY19 billion bills

Dow Jones reported that China Railway Group Ltd plans to sell up to CNY19 billion worth of bills in the domestic and overseas markets to supplement its working capital.

The company said in a statement it intends to sell up to CNY3 billion worth of bills outside mainland China. The bills

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Bechtel to provide support service for nuclear power plant in Abu Dhabi

It is reported that Bechtel will provide design and project management support services for the first commercial nuclear power plant in the Middle East. The plant will be one of four that a consortium headed by the Korean Electric Power Corporation will build and manage in the United Arab

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Pakistan steel industry rejects power disconnection plan

The Daily Times reported that business community has rejected government's plan to disconnect power supply to steel industry, as the move will create multiple problems for the industry leaving thousands of workers unemployed.

The plan was to cut off power supply for one month from December

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Monday Market Monitor - Middle East - WEEK 51 - Up on global trends

Middle East steel market remained saddled with uncertainty as the buying was sporadic showing slack activity.

Moreover the current import offers are over priced but all the same they continue to rise on increased levels.

Scrap prices have become pivotal in determining the long market

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Ashok Leyland wins LUXURA trademark infringement suit

Chennai based commercial vehicles company, Ashok Leyland Ltd which has been making and selling buses and trucks for more than six decades, has won a suit filed in the Madras High Court against infringement of its registered trade mark LUXURA by two firms, one in Bangalore and the other in

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NTPC set to finalize 2640 MW power projects in Bangladesh

It is reported that state owned National Thermal Power Corporation is expected to finalize shortly its proposed 2,640 MW power projects in neighboring Bangladesh to be implemented in a joint venture with the Bangladesh Power Development Board at an estimated cost of INR 13,200 crore.

Mr IJ


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China Securities Journal reported China Nonferrous Metal to inject assets into subsidiary

China Securities Journal reported that China Nonferrous Metal Industry Foreign Engineering And Construction intends to inject CNY 262 million worth of zinc assets into Chifeng NFC Zinc.

The injected zinc assets include 42.61% stake in Chifeng Hongye Zinc Smelting, a 22% stake in Chifeng

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National Business Daily reported Chalco wins nod to start work on Peruvian Mine

National Business Daily reported that Aluminum Corporation of China won approval from the Peruvian government to start work on the Toromocho copper mine in Peru.

Investment on the mine will total USD 2 billion to USD 2.5 billion.

Chalco acquired Toromocho copper mine in 2007 for USD 800

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Chinese domestic steel Angle price update on Dec 23 Angle #5

Angle
#5


Location In CNY In USD

Shanghai 0 0

Hangzhou 52 8

Nanjing 0 0

Jinan 0 0

Hefei 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 0 0

Changsha 96 14

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 12 2

Shijiazhuang 0 0

Taiyuan 57 9

Shenyang 0 0

Harbin 0 0

Chongqing 0 0

Chengdu 27 4

Kunming 0 0

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Average 11 2



Change is on 23rd December as compared to 22nd December 2010
Change is per tonne
USD:CNY = 6.65

To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.

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HR steel prices up in Mumbai HRC Tube 2.5x1250

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 181

Ludhiana 0

Mumbai 453


Change is on 23rd December as compared to 22nd December 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Japanese market tendency on ferroalloys imports

TEX reported that the market tendency by item on imports of ferroalloys into Japan on December 15th 2010 is as follows:

General view
The movements to reorganize the stainless steel industry of Europe have deepened. It is questioned whether an issue of the reorganizations puts a certain

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Korean conglomerates including POSCO make big donations

Korea Times reported that local major conglomerates have rushed to make donations to those who are less well off.

As per report, POSCO, along with its affiliates, contributed a total of KRW 10 billion to the Community Chest of Korea, while Samsung Group, a multinational conglomerate

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BE Group to deliver steel beams to Peab Grundlaggning

BE Group Sweden has secured a transaction whereby it will deliver approximately 1,450 tonnes of steel beams to Peab's foundation engineering operation (Peab Grundläggning AB) between December 2010 and February 2011.

The steel beams will be delivered from BE Group in fully loaded rail

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Wide steel plate price movement on Dec 23

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 436

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 349


Change is on 23rd December as compared to 22nd December 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Steel melting scrap price movement on Dec 23

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla 300

Kanpur 610

Kolkata 0

Mandi -181

Mumbai 0

Rudrapur 610


Change is on 23rd December as compared to 22nd December 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Steel angle prices movement on Dec 23

ANGL
GR A
65X6


Location Change

Ahmedabad 229

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 300

Kolkata 0

Mandi 0

Mumbai -115

Raipur 0

Rudrapur 300


Change is on 23rd December as compared to 22nd December 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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China country wise steel product import in 11 months

It is reported that China country wise steel product import during January to November 2010 total 15,018,901 tonnes which Japan topping the table.


Country Nov'10 Jan-Nov'10 Share

Total 1,383,422 15,018,901

Japan 689,177 7,106,540 47.3

South Korea 351,924 3,771,727 25.1

Taiwan Region 184,913 2,039,543 13.6

Germany 37,637 434,458 2.9

China 22,659 282,563 1.9

Kazakhstan 9,558 197,011 1.3

Russian 14,829 196,845 1.3

Italy 6,321 136,932 0.9

Sweden 9,970 131,336 0.9

US 10,657 114,050 0.8

Viet Nam 9,199 94,618 0.6

UK 7,770 91,334 0.6

France 6,570 86,782 0.6

Thailand 1,540 43,101 0.3

Finland 2,705 42,397 0.3

Austria 2,632 31,113 0.2

Belgium 2,966 25,829 0.2

South Africa 1,017 22,429 0.1

Hong Kong 774 21,698 0.1

Brazil 1,146 16,135 0.1

Holland 1,671 15,4478 0.1

Spain 1,436 12,331 0.1

Luxemburg 106 12,136 0.1

Mexico 871 10,300 0.1

Norway 328 9,992 0.1

Singapore 492 9,303 0.1

Malaysia 362 7,794 0.1

Australia 142 6,782 0.0

India 757 6,767 0.0

Czech 159 6,107 0.0

Swiss 714 5,785 0.0

Canada 488 5,372 0.0

Argentina 298 4,761 0.0

New Zealand 81 3,976 0.0

Latvia 0 3,742 0.0

Poland 107 2,056 0.0

Indonesia 1,027 1,901 0.0

Bulgaria 0 1,486 0.0

Slovenia 3 1,305 0.0

North Korea 23 992 0.0

Romania 126 949 0.0

Denmark 62 920 0.0

Turkey 3 757 0.0

Slovak 6 390 0.0

UAE 41 225 0.0

Israel 11 195 0.0

Saudi Arabia 0 173 0.0

Belarus 93 126 0.0

Philippines 0 105 0.0

Portugal 7 52 0.0

Hungary 1 38 0.0

Ireland 0 37 0.0

N/A 3 34 0.0

Iran 12 32 0.0

Lithuania 0 20 0.0

Macao 0 13 0.0

Ukraine 0 11 0.0

Chile 0 7 0.0



In tonnes

(Sourced from MySteel.net)
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SSAB Q4 profit to be impacted by weak demand and production

SSAB's operating profit for the fourth quarter 2010 will be negatively impacted by lower shipments and production and is expected to be close to zero.

Towards the end of the fourth quarter, demand in Europe weakened at a faster rate than SSAB had anticipated in the Company’s third

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SIBUR elects new board

It is reported that at the special meeting of SIBUR holders December 15 the new BOD was elected.

As per report, now it involves 5 members. Besides, the interest bearing deal in the form of the contract revival with Tolyattisintez was approved.

AK SIBUR provided consolidation of the

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Severstal to pay Jan to Sept dividends of RUB 4 billion despite loss

RIA Novosti reported that Russia top steel maker Severstal will pay interim dividends for the first nine months of 2010 worth RUB 4.32 billion or RUB 4.29 per share.

The company said in a statement that the dividends are to be paid before February 18 2011.

The company net losses to IFRS

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Hebei Province based steel industry profits lower than others

It is reported that on the Mysteel Annual Conference cum 2011 China Steel Market Outlook Conference held last week, officer of Ministry of Industry and Information Technology disclosed that profit margin of steel industry became the lowest among all industries this year, accounting for only


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Arab Fund to lend KWD 30 million for Syrian power plant

Arabian Business reported that the Arab Fund for Economic & Social Development will lend KWD 30 million to help pay for construction of a 750 MW power plant in Syria.

The EUR 678 million power station is to be built in the eastern province of Deir Ezzor by Metka SA, Greece’s biggest

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Iranian steel longs market sees revival

Off late there has been some activity in the construction sector leading to improvement in Iranian long product prices.

The domestic mills are enjoying double advantage since they have increased the prices. Moreover the overseas suppliers are shying from making any offer as the

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ONGC FPO to be affected by INR 14000 crore subsidy burden

Investors who would be busy tucking away their hard earned money for the forthcoming ONGC market offering in Q1 2011 need to do a quick rain check on the company’s risk factors.

The ad hoc subsidy burden that ONGC has to bear and the royalty payout on its Cairn assets may not only

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PFC FPO likely next fiscal - Union Minister

According to Mr Bharat Solanki union minister of state for power, Power Finance Corporation’s follow on public offer is likely to hit the market next fiscal.

Mr Solanki told PTI that “The necessary procedure for disinvestment in PFC is underway and we expect the FPO to come out

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West Bengal government may dilute stake in Kolkata Metro

The West Bengal government is willing to dilute its stake in the Kolkata Metro Rail Corporation Ltd in favour of the Railways.

Mr Sumantra Chowdhury MD of Kolkata Metro Rail Corporation said that the KMRC, an equal joint venture between the State and the Centre (through the Ministry of

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CIL and SCI sign MoU for coal import

State run Coal India Limited signed a MoU with the Shipping Corporation of India the largest Indian shipping company, to create a joint venture to provide end to end logistics solutions for bringing internationally produced coal into the country.

Mr PS Bhattacharyya chairman of CIL said

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Saab to reenter China three years after GM halted exports

Bloomberg reported that Saab Automobile will work with China Automobile Trading Co Ltd starting next year to distribute its cars including the 9 to 5 sedan and 9-4X crossover in the world largest automobile market.

The Trollhaettan, Sweden based carmaker said in a statement that the two

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Power shortage in China likely to remain over the winter

China Daily reported that central China Hubei and Henan provinces along with Northwest China's Shaanxi province, have seen the consumption of coal rise steeply following the cold snap which has been accompanied by heavy rain and snow in places.

The report said In Hubei, 14 power stations

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Rosneft and Transneft eyeing 25pct stakes in Turksih oil pipeline - Report

Reuters quoted Mr Igor Sechin Deputy Prime Minister of Russia as saying that Russian energy companies Rosneft and Transneft are seeking 25% stakes in a planned Turkish oil pipeline. The pipeline, to be built by Turkey's Calik Holding and Eni of Italy, will link the Turkish ports of Samsun and

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Disi Water Conveyance Project back on track - Report

A government source said that two hundred kilometers of pipes for the Disi Water Conveyance Project have been delivered to Jordan, with the project set to be completed by its 2013 deadline.

With the most recent shipment of pipes from Turkey, which arrived earlier this month, an additional

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Patel Engineering secures INR 3 billion order

Patel Engineering Ltd said that its consortium with BS TransComm and Simplex Infrastructure has won an order worth INR 3 billion from REC Transmission Projects to set up a 765 KV transmission system.

It said that the completion of the project is expected by March 2014 and the operation

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Bajaj Hindustan to set up 1980 MW power project in UP

Bajaj Hindustan Ltd has informed BSE that the company through a consortium has signed a memorandum of understanding with the Government of Uttar Pradesh for setting up a mega power project of 1,980 MW (3 X 660MW) at Bargarh in Uttar Pradesh h.

The cost of this project is estimated to be

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Centre assurance to Delhi HC on Kandla Port land lease

The Center has assured the Delhi High Court that it would not renew the lease of Kandla Port Trust land in Gujarat to private players without the court's permission.

A division bench of Chief Justice Dipak Misra and Justice Manmohan accepted the submission made by AS Chandhioke, Additional

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ICICI Bank cheers JSW Steel Ispat deal

It is reported that welcoming the JSW Ispat deal, ICICI Bank, one of the leading lender to IIL said that the transaction will strengthen the balance sheet of Ispat.

Chanda Kochhar MD & CEO of ICICI Bank said “The entry of a large strategic investor into the company will strengthen its

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Indian steel price index further up by 18 points

The Indian Long Product Price Index ILPPI went up by 35 points on December 21st 2010 whereas Indian Flat Product Price Index IFPPI down by 1 point. The overall Indian Steel Price Index INDSPI went up by 18 points

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HR steel prices update on Dec 20

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 907

Chennai 725

Delhi 354

Indore 427

Kolkata 0

Ludhiana 0

Mumbai 0


Change is on 20th December as compared to 17th December 2010
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

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Global crude steel output in November up by 5pct YoY

World crude steel production for the 66 countries reporting to the World Steel Association was 114 million tonnes in November 2010. This is 5.1% YoY higher than November 2009. World crude steel production for the first 11 months of 2010 was 1,281 million tonnes, up by 16.2% YoY as compared to

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Global crude steel output in November up by 5pct YoY

World crude steel production for the 66 countries reporting to the World Steel Association was 114 million tonnes in November 2010. This is 5.1% YoY higher than November 2009. World crude steel production for the first 11 months of 2010 was 1,281 million tonnes, up by 16.2% YoY as compared to

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Fitch assigns B to Metinvest notes

It is reported that Fitch Ratings has assigned final senior rating of 'B' to Metinvest Eurobonds 2015 worth USD 500 million.

According to Millennium Capital analyst “We regard this news as NEUTRAL for Metinvest notes. Previously in late Apr the agency assigned “B-” to

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Chinese domestic steel rebar prices update on Dec 20

Rebar
20mm
HRB 400


Location In CNY In USD

Beijing -35 -5

Changsha 0 0

Chengdu 0 0

Chongqing 13 2

Fuzhou 0 0

Guangzhou 0 0

Guiyang 0 0

Hangzhou 0 0

Harbin 18 3

Hefei 0 0

Jinan 0 0

Kunming 30 5

Lanzhou 0 0

Nanchang 0 0

Nanjing 0 0

Shanghai 0 0

Shenyang 16 2

Shijiazhuang 0 0

Taiyuan 0 0

Tianjin 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 12 2

Average 2 0



Change is on 20th December as compared to 17th December 2010
Change is per tonne
USD:CNY = 6.66

To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.

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China gives environmental nod to fuel oil blending project

Reuters reported that China has given environmental clearance to a CNY 2.5 billion fuel oil blending project in the southern province of Guangdong and paving the way for final state approval.

The Ministry of Environmental Protection said the project in Daya Bay, Huizhou city would produce

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Hyundai Motor raises 2010 vehicle sales forecast for China on new models

Bloomberg reported that Hyundai Motor Co, South Korea largest carmaker raised its 2010 vehicle sales forecast for China, saying new models may help boost deliveries in the country to more than 700,000 units.

Mr Noh Jaeman president of the company Chinese venture said Hyundai which in

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Hubei steel industry sales revenue may exceed CNY 200 billion in 2010

It is reported that with the driving performance of Wisco, Hubei steel industry sales revenue are expected to exceed CNY 200 billion.

The scale of Hubei steel industry is not so much significant in China, but its technology level and product with high added value always stand out in

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Chinese domestic steel beam price update on Dec 20

Beam
#25


Location In CNY In USD

Shanghai 0 0

Hangzhou 0 0

Nanjing 0 0

Jinan 0 0

Hefei 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 0 0

Changsha 0 0

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 60 9

Shijiazhuang 45 7

Taiyuan 0 0

Shenyang 0 0

Harbin 0 0

Chongqing 40 6

Chengdu 0 0

Kunming 0 0

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Average 6 1



Change is on 20th December as compared to 17th December 2010
Change is per tonne
USD:CNY = 6.66

To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.

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Sponge iron price falls at major places on Dec 20

Sponge iron


Location Change

Bellary -100

Kolkata 100

Raigarh -200

Raipur -100

Rourkela -400


Change is on 20th December as compared to 17th December 2010
Change is in INR per tonne

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Drydocks World set to begin construction a new CSS vessel

The Khaleej Times reported that Drydocks World recently held a keel laying ceremony for a state of the art Compact Semi Submersible vessel.

The Derwent is being built for integrated energy services provider Hallin Marine Subsea International Limited, a Superior Energy Services company, at

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Middle East crude steel output figure for November 2010

worldsteel has announced Middle East crude steel production figure for November 2010. Crude steel output was 1.590 million tonnes in November 2010, up by 22.9% YoY higher than November 2009.

Middle East crude steel production for the first 11 months of 2010 was 17.318 million tonnes, up by

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Australian firm submits Paradip dock system feasibility report

Australian consultancy firm, Aurecon has submitted to Paradip Port Trust the feasibility report on the proposed western dock system of the port.

Mr Biplav Kumar chairman of PPT told Business Line that “There will be a total of six berths in the proposed dock system with a total

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Pipavav Shipyard moves HC against ONGC

A consortium led by Pipavav Shipyard has moved Bombay High Court challenging the legality of ONGC's decision to decline it award of a contract to carry out surveys and various other works of six well head platforms at the Bombay High.

The petition is coming up for hearing on Monday before

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GMS weekly report on India ship breaking industry for WEEK 51

After a slight early week dip in light of recent developments in Bangladesh, the Indian market finished the week on as strong a footing as the previous week as demand and levels showed few signs of abating.

Whether a New Year cooling is just around the comer remains to be seen, but for

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Tell the world - What you want to tell - Improve your business

If you are trying to improve the visibility of your company web site by advertising on internet, we present much better return than all other options.

www.steelguru.com is attracted more than 1 million page hits per week since last 6 months now. With this, www.steelguru.com continues to be

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Russal to pay USD 120 million - Report

RusAl Aluminium Company Limited, the core investor in Aluminium Smelter Company, ASLCON, Ikot Abasi, Akwa Ibom State, must refund USD 120 million to the Federal Government coffers with all interests and charges accruable, three years after it reneged on a contract to dredge the Imo

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Dynamo Sliven to produce wind generators for electric cars in 2011

Dnevnik reported that Bulgarian automotive and machine building products manufacturer Dynamo Sliven will kick off the production of wind power generators and engines for electric vehicles in 2011.

Dynamo said that the product will be presented at major exhibitions next year. Currently, wind

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Metals USA Holdings announces USD 500 million asset based credit facility

Metals USA Holdings Corp that its wholly owned subsidiaries, Flag Intermediate Holdings Corporation, Metals USA Inc and certain additional subsidiaries have amended and restated the existing asset-based credit facility providing for a new USD 500 million, five year senior secured asset-based

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Insteel Industries announces consolidation of Delaware facilities

Insteel Industries Inc has announced that it is closing its facility in Wilmington in Delaware and moving the manufacturing to its Hazleton in Pennsylvania plant. The Hazleton plant was acquired in connection with Insteel's recent purchase of certain of the assets of Ivy Steel & Wire

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Ukrenergo sells 1860 MW of transmission capacity for UAH 208100

Ukrainian Journal reported that Ukrenergo sold 1,860 MW of electricity transmission capacity to three companies for UAH 208,100 at an auction for access to the Ukrainian power grid to export electricity from January 1 to December 31 2011.

Eight lots to export 545 MW of electricity from the

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Steel billet prices at Black Sea touching USD 600 FOB mark

It is reported that the steel billet prices at Black Sea continued uptrend this week.

As per our information, although the price range this week was just a bit higher from previous week, working levels got closer to “high” indications.

On the strength of the market besieged

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Fisker Automotive to sell electric cars in China

Xinhua reported that the California based premium electric vehicle manufacturer Fisker Automotive is ready to sell its environment friendly low carbon emission cars in China next fall.

The company said executives from the Fisker Automotive and China Grand Auto formalized the non exclusive

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WISCO happy with Centrex investment

It is reported that Chinese state owned Wuhan Iron & Steel Group Corp is happy with its iron ore joint venture with Australia Centrex Metals Ltd. It also says the value of its investment is increasing.

WISCO China third largest iron and steel group and a Fortune 500 company this week said

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TAPI gas pipeline pact will spur economic growth - US

The US has said that it is pleased with a recent agreement on a four-nation gas pipeline involving India, Pakistan, Afghanistan and Turkmenistan, hoping that the multi billion dollar project would change the face of the economic condition of the region.

The state department said that

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Larsen and Turbo Finance IPO likely in FY 2011

Larsen and Turbo Finance’s Initial Public Offer is likely to hit the market in the last quarter of FY 11, said a senior company official.

Mr YM Deosthalee CFO of L&T said that “All necessary approvals from the government have been received. We are keeping ourselves ready for the

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Macroeconomic indicators - Indian exports in November up by 26pct

India’s exports have registered a growth of 26.8% during November 2010, at USD 18.9 billion. During the period April to November 2010, exports have reached a level of USD 140.3 billion at a growth of 26.7% while the imports were USD 222 billion with a growth of 24% and a trade deficit of

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Borsky Pipe Plant ready to pay the dividends

It is reported that at the Borsky Pipe Plant special meeting the holders decided to pay the 9 month dividends in the total volume of RUB 56 million.

The 2009 dividends demanded RUB 47.5 million in total payment.

Borsky Pipe Plant is a pipes producer. Now its capacities gain 95ths

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Hunan Metals buys CNY 195 million of metal alloy assets

It is reported that Hunan Nonferrous Metals Corporation subsidiary, Zhuzhou Cemented Carbide Group purchased 48.5 million shares or a 19.4% stake of Zhuzhou Cemented Carbide Cutting Tools for CNY 195 million.

Before the purchase, ZCG held 112 million shares of ZCCT accounting for a 44.75%

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Private steel mills in China under pressure to survive

It is reported that Chinese steel private steel mills are under heavy pressures now. Some of these private steel mills are seeking for other ways to survive.

Mr Zhang Xiangqing president of Tianjin Rockcheck Steel Group Co Ltd is said to go dabble in medicine due to the great pressure

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Wuhan Steel hikes flat steel prices for January

It is reported that, following BaoSteel, Wuhan Iron & Steel Co Ltd has increased its prices for January 2011 by CNY 100 per tonne to CNY 150 per tonne indicating its positive outlook on demand.

Plate
Up by CNY 50per tonne to CNY 200 per tonne

HR
Up by CNY 100 per tonne

CR
Up by CNY

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Oman apprehensive on oil prices

Gulf News reported that Mr Mohammad Bin Hamad Al Rumhi Oman's minister of oil and gas has expressed concern that oil above USD 90 per barrel could affect the recovery of economy in some countries.

Mr Al Rumhi said that "I would think that oil prices would remain between USD 70 and USD 90

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Iran aims for self sufficiency in steel by 2014

Iran, the largest importer of steel in the Middle East, is pressing ahead with plans to expand output capacity to achieve self sufficiency by 2014 and then boost it fivefold by 2025.

Around USD 32 billion of investment was needed for the country’s long term goal to reach a steel

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UP signs two MoUs for 2230 MW power generation

Uttar Pradesh government signed two MoUs with Bajaj Hindustan and Parekh Aluminex for generation of 2230 MW power in the state.

Mr Navneet Sehgal secretary power signed the MoUs with Bajaj Hindustan vice chairman Mr Kushagra Bajaj for setting up 1980 MW power plant at Bargarh (Chitrakoot

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Macroeconomic indicators - GDP growth and decline in inflation may lead to a pause in tightening - Fitch

Decline in November 2010 inflation rate to 7.48% was mainly due to a sharp decline in inflation rate for primary articles (13% in November 2010 as against 16.68% in October).

While year on year inflation rate of rice declined in November 2010 compared to October 2010, prices of wheat,

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TATA Motors to increase prices of cars except Nano and Aria

It is reported that TATA Motors plans to raise prices of its all passenger vehicles except the Nano and the newly launched Aria by up to 1.5% from next month onwards on account of surging input costs.

Mr R Ramakrishnan VP commercial Passenger Cars Business Unit of TATA Motors told reporters

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Is revival knocking on the doors of flat steel product market in India

The flat product market in India has been reeling under depression for the past 3 months. Regardless of all factors ranging from stock depletion, seasonality to international levels etc the tenor has been mellowed.

However recently it seems turnaround must be just round the corner owing to


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Macroeconomic indicators - S Korean economy seen at 5pct growth in 2011

Yonhap reported that South Korea's economy is expected to grow about 5% in 2011, driven by a steady rebound in global markets and robust domestic demand.

According to the Ministry of Strategy and Finance, the 2011 growth forecast, however, is much lower than the government's 6.1% advance



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Schnitzer Steel to acquire Steel Pacific Recycling in BC

Schnitzer Steel Industries Inc announced that it has entered into a definitive agreement to acquire substantially all of the assets of Selkirk Recovery Inc dba Steel Pacific Recycling, of Duncan, British Columbia.

Steel Pacific is the largest metal recycler in the Vancouver Island region of

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Russian and Slovenia premiers hail South Stream deal progress

Interfax citing Mr Putin's spokesman Mr Dmitry Peskov said the Russian and Slovenian prime ministers, Mr Vladimir Putin and Mr Borut Pahor discussed trade and business contacts between the two countries during a telephone conversation on Tuesday.

Mr Peskov said "The heads of government

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Chinese domestic steel plate price update on Dec 15

Plates
20mm
Common


Location In CNY In USD

Beijing 52 8

Changsha 26 4

Chengdu 0 0

Chongqing 52 8

Fuzhou 0 0

Guangzhou 0 0

Hangzhou 0 0

Harbin 27 4

Hefei 32 5

Jinan 46 7

Kunming 0 0

Lanzhou 0 0

Nanchang 0 0

Nanjing 20 3

Shanghai 0 0

Shenyang 23 3

Shijiazhuang 23 3

Taiyuan 0 0

Tianjin 20 3

Wuhan 0 0

Xian 0 0

Zhengzhou 30 5

Average 16 2


Change is on 15th December as compared to 14th December 2010
Change is per tonne
USD:CNY = 6.66

To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.

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Chinese domestic narrow HR strip prices update on Dec 15

HR Strip
183*2.75


Location In CNY In USD

Shanghai 30 5

Hangzhou -19 -3

Guangzhou 0 0

Wuhan 60 9

Tianjin 0 0

Chengdu 0 0

Wuxi 0 0

Lecong 0 0

Tangshan 0 0

Average 8 1


Change is on 15th December as compared to 14th December 2010
Change is per tonne
USD:CNY = 6.66

To know exact prevailing steel prices in China on daily basis, subscribe to services of www.steelprices-china.com by registering or sending a mail to admin@steelprices-china.com. Please note that this is a paid service.

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Baosteel production and sales of shadow mask strips rank no 1 in the World

After the exploration and practices over 10 years, now Baosteel has become the largest producer of shadow mask strips in the world with a market share of 95%. In the first 10 months of this year, the production and sales have exceeded 13,000 tonnes which is 5 times higher than that of 5 years

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Baosteel increases steel price for January

On December 13th 2010, Baosteel has released the futures price of carbon steel plate of January 2011, and according to the latest pricing policy, the prices before tax of hot rolled coil, commercial cold rolled coil, electricity steel, wide and heavy plate are all increased by CNY 100 per

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Israeli firms sign deals for Egyptian gas

AFP reported that Four Israeli firms have signed agreements to import Egyptian gas under 20 year contract valued at between USD 5 billion and USD 10 billion.

The Ampal American Israel Corporation said that Israel Chemicals, Dead Sea Works, Oil Refineries and OPC Rotem signed agreements to

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Long product trends in Iranian market

During last week, government controls sections producers specially debar suppliers for their offers in Tehran Metal Exchange. As in Muharram Month market activities drop, rise in supply levels made market more silent and prices fall.

Although another reason for dropping prices is that many

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BPCL seeing loss of over INR 3 per litre on petrol - Mr Joshi

Mr SK Joshi director of finance of Bharat Petroleum Corporation Limited said that crude prices have been on an upsurge pressurising oil marketing companies. Commenting on the high costs and margins, Mr Joshi said that its petrol prices were lagging behind and that the company has been

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Himachal court cancels green nod to Grasim cement unit

In a major jolt to the Himachal Pradesh government's effort to have mega cement plants, the state high court has quashed the environmental clearance given to Grasim India's proposed INR 1,200 crore cement unit at Sundernagar in Mandi district.
The judgment was delivered by the HC's

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Steel long Jan futures may test 26000 to 27000 in mid term - SMC

Steel long in NCDEX traded in tight range in the month of November as lack of fresh buying support kept the prices in tight range. After testing high of 25,920 on October 10th 2010 its prices tumbled lower below 24,500 in last week of October. Recently in beginning of December some buying was

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PT Bakrieland to issue over USD 100 million bonds in H2

Indonesian developer Bakrieland Development will issue over USD 100 million in bonds in the second half of 2011 to fund its capital expenditure.

Mr Hiramsyah Thayib CEO of Bakrieland that Bakrieland is part of the politically connected Bakrie Group, which has interests in coal mining,


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Huaneng CNY 2 billion coal terminal gets NDRC approval

It is reported that the CNY 2 billion Suzhou Huaneng Coal Port Program was approved by China National Development and Reform Commission.

Huaneng Power International which holds 66 percent share in the program said the program will lower fuel costs and operating risk for the company,

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Mr Brian Maynard appoint CEO of Ferrexpo

Ferrexpo announce the appointment of Mr Brian Maynard as the Group Chief Operating Officer with effect from January 10 2011.

Mr Maynard has extensive operational experience in bulk commodities having managed various large scale mining division through out his 30 year career at Vale

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Iron ore project brings mining tensions back to Sierra Leone

The London based African Minerals firm claims its efforts to mine a whopping 11.7 billion tonnes of iron ore will bring USD 1.75 billion in foreign investment to Sierra Leone.

Nine years after the end of Sierra Leone's notoriously grisly civil war, the small West African nation still known

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Copper Development joins AIM

Reuters reported that Copper Development Corporation is set to become the latest mining group to list in London when it is admitted to the junior AIM market on Monday at a time when copper prices are near record highs.

It has raised more than 40 million pounds to develop the Hinoba a copper

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Vedanta announces approval for the purchase of 60pct interest in Cairn India

Vedanta Resources Plc announced that at its General Meeting held the proposed acquisition of 51% to 60% interest in Cairn India Limited from Cairn Energy plc was approved by its shareholders.

The acquisition remains conditional on the receipt of the required regulatory approvals and

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Lack of bauxite resources to hinder aluminum projects in India

BS reported that one will not fail to notice the convergence of thoughts of Mr BK Handique mines minister of India and Mr Klaus Kleinfeld CEO of the world’s largest producer of the white metal Alcoa, on the long term demand and price outlook for aluminum. Both believe the use of aluminum

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Mirabela Nickel announces production update for Oct and Nov

Mirabela Nickel Limited has provided a production update for October and November 2010. Mirabela has recorded a strong improvement in production for October and November with the following key results for the two months:

1. Total material mined of 6.4 million tonnes

2. Total ore

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CEZ to build network of electric cars charging stations in Sofia

The Novinite reported that the introduction of electric cars in Bulgaria will be encouraged through creating a network of charging stations.

The memorandum between Sofia's mayor Mr Yordanka Fandakova and Mr Jan Vavera regional manager of the Czech owned power utility CEZ for Bulgaria, was

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Macroeconomic indicators - Euro area industrial production up in Oct

According to the data published by Eurostat and the National Institute of Statistics, in October 2010 as compared with September 2010, seasonally adjusted industrial production rose by 0.7% in the euro area and by 0.3% in the EU 27.

In September 2010, production fell by 0.7% and 0.3%

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Italian prosecutors seek jail for ThyssenKrupp executives

It is reported that Italian prosecutors are asking a court to send a ThyssenKrupp executive to jail for 16 1/2 years for a plant blaze that killed seven workers in 2007.

The Italian news agency ANSA said prosecutors asked the court on Tuesday for a manslaughter conviction against Mr Harald

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Russia should make offshore operations laws stricter - Mr Sechin

RIA Novosti citing Mr Igor Sechin Deputy Prime Minister of Russia as saying that Russia needs to strengthen its legislation on development of the coastal shelf by oil companies.

He said that "In most countries, legislation covering shelf operations is much stricter (than in Russia). We

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Azovzagalmash to lease the production facilities of MZVM

It is reported that the management of Azovzahalmash and Mariupol heavy machinery plant took a joint decision to lease out the MZVM property complex to AZGM as posted on the corporate site of Azovmash which controls both companies. The decision was coordinated with a pool of major borrowers of

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China exports diesel locomotives to New Zealand

It is reported that China CNR Corporation exported six diesel locomotives to New Zealand. The trains, which travel at a maximum speed of 100 kilometers per hour, will be used in New Zealand cargo transportation routes.

Separately, China CNR signed an agreement with French company power and

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Chinese steel market heating up despite weak fundamentals

International Finance News reported that the steel prices are still on an upward path in this winter. But the fundamental factors do not support a long term wide increase.

A small steel trader based at Baoshan district in Shanghai said the market is comparatively hot, my business is fine as

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Egypt and Abu Dhabi fund sign USD 49 million loan deal for power plant

The Abu Dhabi Fund for Development has signed an AED 183.56 million loan agreement with the Egyptian government to help finance a power station project in the north east city of Banha. The deal will finance the development and construction of a power plant with a generation capacity of 750 MW

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OPEC meeting leaves oil output unchanged

Xinhua reported that OPEC ministers announced the oil output would remain unchanged while Saudi Arabia said it favors a price between USD 70 to USD 80 per barrel.

The announcement came as a relief for oil consumers, who were worrying that the rising oil price would soon break the

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Shipping secretary stresses for upgradation of knowledge

Mr K Mohandas union shipping secretary has called upon the Marine Engineer trainees of the Cochin Shipyard Ltd to excel in their chosen career through continuous upgradation of knowledge, hard work and practising sound values.

He impressed upon the cadets their role as ambassadors of the

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India to become 2nd largest steel producer by 2012 - Mr Singh

According to Mr Virbhadra Singh union minister for steel, India is expected to become the second largest steel producing nation by 2012.

Mr Singh said that the steel sector has been showing steady and robust performance in the recent years adding that the sector contributes about 2% of GDP

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Macroeconomic indicators - Russian GDP growth seen at 4pct

Interfax quoted Rosstat said Russia Federal State Statistics Service has improved its GDP forecast for Q1 to Q3 from 3.6% as previously to 3.7%.

The quarterly GDP growth estimates remain as before 3.1%YoY for Q1, 5.2% for Q2 and 2.7% for Q3.

GDP in current prices came to RUB 11.683

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GD Power to invest CNY 1 billion in Inner Mongolia

It is reported that GD Power Development approved plans by its subsidiary, GD Construction Company to invest CNY 1.9 billion to build the first phase of the Bulian power plant and undertake supplementary work on the Chahasu mine.

The Bulian power plant is located in Ordos, Inner Mongolia.

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China hit with tariffs as Tianjin Pipe gets subsidized loans

It is reported that Tianjin Pipe Corp 850 acre campus is unlike any other steel factory in the world. Ostriches spotted deer and peacocks roam the grounds amid willow trees, bamboo bridges and Chinese pavilions. The plant has its own light rail stop and hotel.

Bloomberg Markets magazine

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Aramco fast tracks Wasit plant online in 2013

Gulf Base reported that Saudi Aramco will bring its largest gas plant online in 2013, earlier than expected as it accelerates gas output expansion to meet rising domestic demand.

Mr Khalid Al Falih CEO of Aramco said that the company is now focusing on raising gas output after it completed

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Gulf petrochemical production set to raise USD 80 billion

Gulf News reported that chemical production in the Gulf will raise from USD 40 billion to USD 80 billion by 2020 but that will not be enough to achieve a major share of global output in the sector.

Mr Khalid A Al Falih president & CEO of Saudi Aramco said at the fifth Annual Forum of the

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New Mangalore Port receives 6th cruise vessel this fiscal

It is reported that the MV Seabourn Spirit has become the sixth luxury cruise vessel to call at the New Mangalore Port in the current financial year.

A press release by Mr S Gopalakrishna traffic manager of New Mangalore Port Trust said that the vessel called at the port on December 8 with

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Nissan to partner with Ashok Leyland for MPV

BS reported that Indian unit of Nissan Motor Co aims to partner commercial vehicle maker Ashok Leyland Ltd to introduce two multipurpose vehicles in India next year.

The newspaper quoting Mr Kiminobu Tokuyama managing director of Nissan Motor India as saying that "We will market our


http://www.steelguru.com/indian_news/Nissan_to_partner_with_Ashok_Leyland_for_MPV/180401.html

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Siemens bags order for Formula 1 race track in India

Siemens said that it has received an order worth INR 1.27 billion from Jaypee Sports International for the country’s first Formula 1 race track.

This project is scheduled to be completed by July 2011.

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Monday Market Monitor - India - WEEK 49 - December 2009 repeating

The long awaited outburst in long product market came to pass on 10th December. Post festivities the market never saw light of the day on anticipated lines as the price levels undulated within a low band bellying hopes of revival.

The morass was so deep that even the concurrent revival in

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Rebar TMT QST prices down in Ahmedabad and Bangalore

TMT
Fe 415
12mm


Location Change

Ahmedabad -200

Bangalore -200

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 100

Mandi 0

Mumbai 0

Raipur -312

Rudrapur 0

Muzzafarnagar 0


Change is on 7th December as compared to 6th December 2010
Change is in INR per tonne

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Hindustan Zinc seeks 200000 tonnes of coal from January

Bloomberg reported that Hindustan Zinc Limited of India is seeking to import 200,000 tonnes of steam coal between January and February.

The tender said that the company wants to buy coal from South Africa, Colombia or Indonesia.

According to data from IHS McCloskey, the spot price of

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PT Banpu planning production boom

Asean's largest coal miner PT Banpu Plc wants to nearly double its coal output to 46 million tonnes next year, thanks to the acquisition of Sydney based Centennial Coal and a higher contribution from Indonesian mines.


Ms Somrudee Chaimongkol CFO of Banpu said that production at coal

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KWG Receives USD 2 million and engages Xstrata Process

KWG Resources Inc report that just under USD 2 million has been subscribed to its capital as a result of the exercise of outstanding options and warrants, each of which enabled their holders to purchase shares from treasury for USD 0.10 each. The warrants were previously issued in connection

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Steel majors plea WB government to shift Andal airport project

It is reported that a consortium of steel makers, including ArcelorMittal promoted Uttam Galva has taken the Bengal government to court seeking an order to cancel the airport city project at Andal, Burdwan or shift it elsewhere.

In its petition, the consortium said around 7 square kilometre

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Government fixes SCI FPO price at INR 140 a share

The government fixed the issue price of state owned Shipping Corporation follow on offer at INR 140 a share that will help raise around INR 1,160 crore a part of which would be used to fund the company's entry into ports business.

A source familiar with the development said that "The

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Pencil ingot price movement in major places on Dec 7

Pencil ingot


Location Change

Ahmedabad -200

Alang 0

Bhiwari 100

Chennai 0

Durgapur -45

Ghaziabad 100

Hyderabad 0

Jaipur 100

Jamshedpur 0

Ludhiana 87

Kanpur 0

Kolkata 0

Mandi 91

Mumbai 0

Muzzafarnagar 0

Nagpur -91

Raigarh -100

Raipur 0

Rourkela -100

Rudrapur 0


Change is on 7th December as compared to 6th December 2010
Change is in INR per tonne

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Chinese domestic CR steel price update on Dec 7

CR
1mm


Location In CNY In USD

Shanghai 0 0

Hangzhou 0 0

Nanjing 20 3

Jinan 0 0

Hefei 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 0 0

Changsha 0 0

Wuhan 0 0

Zhengzhou 44 7

Beijing 0 0

Tianjin 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Shenyang 0 0

Harbin 40 6

Chongqing 0 0

Chengdu 0 0

Kunming 30 5

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Qingdao 0 0

Average 6 1



Change is on 7th December as compared to 6th December 2010
Change is per tonne
USD:CNY = 6.65

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Algeria frustrates BP asset sales plan

Financial Times reported that Algerian government is frustrating the proposed sale of assets in the country by BP to its Russian joint venture partner TNK-BP as it looks into buying the acreage itself.
According to senior banking sources close to the deal, Algiers has so far refused to

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Chinese steel fastener makers hope for sales recover to EU on WTO ruling

China Daily reported that Chinese manufacturers and exporters have welcomed a World Trade Organization ruling handing China a victory in a trade dispute with the European Union over Chinese-made steel fasteners and they expect their EU exports to rebound.

However, they said they will no

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Jiangxi based steel industry income exceeds CNY 100 billion

It is reported that by November15, steel industry in Jiangxi province achieved main business income of some CNY 100.3 billion which was Jiangxi province’s second industry exceeding CNY 100 billion followed by non-ferrous industry.

Jiangxi province produced pig iron and crude steel of

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Oil pricing proposal put on hold as inflationary pressures bite

The National Business Daily citing unnamed sources said a proposal to adjust China's refined oil products pricing system is likely to be put on the back burner until early next year, as the country fights inflationary pressures.

According to those sources the proposal has been submitted to

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Sinohydro wins Venezuelan contracts worth CNY 2 billion

It is reported that Sinohydro Corporation a hydropower engineering and construction corporation won two contracts worth CNY 2.1 billion from the Venezuelan Agricultural and Land Department.

Sinohydro Corporation will be engaged in an irrigation project, the construction of an industrial

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Russia ready to supply as much gas to Europe in winter as necessary

Itar-Tass citing Mr Sergei Shmatko Energy Minister of Russia as saying that, the country is ready to supply as much natural gas to Europe during winter as necessary.

He said that “The contracts that exist today allow our European partner companies to receive as much as they

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Steel slab export levels gets sucked by hike in HRC prices

An upturn in HRC prices to the tune of USD 40 per tonne in the last 3 weeks has spruced up the sentiments in semis. The quotations of slabs have gone up by USD 20 per tonne concurrently.

Offers of slabs from Ukraine are reportedly coming at USD 520 per tonne to USD 540 per tonne FOB Black

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Baosteel tool steel orders breaks record in South East market

In the recently held 2010 Baosteel stainless steel tool products promotion conference, the majority of tool manufacturers in Guangdong Yangjiang district gave a high rating to Baosteel unique product nitrogen controlled martensitic stainless tool steel which brought to the product significant

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Saudi Aramco to develop six power stations

Gulf News reported that Saudi Arabian Oil Company plans to develop 6 power stations worth an estimated USD 1 billion due to concerns within the company over the ability of the kingdom's main power generator Saudi Electricity Company to provide the required level of electricity

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Emirates steel celebrates the 39th UAE National Day

Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of General Holding Corporation celebrated the 39th UAE National Day with a unique and memorable event for its c 1,400 employees.

Mr Suhail Al Ameri Emirates Steel's chairman and DG of GHC said that "Celebrating

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Ezz Steel posts Q3 profit

Egypt's Ezz Steel announced that it posted a Q3 net profit, reversing a loss in the same quarter a year ago and forecast that growing steel demand would push prices higher in 2011.

Egypt's largest steelmaker Q3 a net profit was EGP 1.65 million as compared with a loss of EGP 67 million in

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Volkswagen appoints Dr John Chacko as new president and MD for India

The Volkswagen Group announced the appointment of Dr John Chacko as the new Volkswagen group chief representative India and president and MD of Volkswagen India with effect from December 1st 2010.

Dr John Chacko who has served earlier in the capacity of technical managing director of

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Ocean information services centre and ONGC to map oil spill trajectory

The Indian National Centre for Ocean Information Services in partnership with oil exploration major ONGC, is developing an oil spill trajectory modeling that will help track the movement of oil spills in the high seas and thus facilitate quicker response to mitigate such environment

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NTPC secures loan from Singapore bank

NTPC has tied up with a Singapore based bank for USD 300 million loan for funding its projects during this fiscal.

The loan is for seven year period.

Mr AK Singhal director finance of NTPC told reporters that “It is USD 300 million loan with a Singapore bank I cannot tell you the

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Macroeconomic indicators - ASSOCHAM take on Q2 GDP

The impressive economic growth rate of 8.9% during the second quarter ended September is almost in line with the expectations of ASSOCHAM.

India, the world’s second fastest growing economy, expanded by 8.9% in the second quarter of current fiscal 2010-11 on the back of an unexpected


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SAIL receives two ICC PSU excellence awards

Steel Authority of India Limited was conferred with twin ICC PSU Excellence Awards at the 'India Public Sector Agenda @ 2015 - Empowering Growth of India' summit held at Hotel Hyatt Regency.

Mr BB Singh director personnel of SAIL received the awards in the categories of Best Human

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Steel melting scrap prices down in Kandla

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla -700

Kanpur 0

Kolkata 0

Mandi -91

Mumbai 0

Rudrapur 0


Change is on 29th November as compared to 26th November 2010
Change is in INR per tonne

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Work starts on Phu Quy island wind power plant

Vietnam News Service reported that the PetroVietnam Power Corporation began construction on a project to build the Phu Quy wind power plant on Phu Quy Island in central Binh Thuan Province.

The plant, with a total investment of more than VND 335 billion, is expected to open in February

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Feng Hsin keeps prices unchanged this week

Taiwan's Feng Hsin has announced to remain the prices of all products unchanged in this week.

Even the scrap prices have been increasing and the inventory is few; Feng Hsing has still remained the prices flat due to weak demand.

Thus, the latest quotes of rebar was at TWD 19,400 per


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Mr Mullarkey named as president of United Spiral Pipe

United Spiral Pipe LLC, a spiral welded tubular products manufacturing joint venture between United States Steel Corporation, POSCO and SeAH Steel Corporation, announced that Mr Patrick J. Mullarkey has been named president. The change was effective November 15th 2010.

Mr Mullarkey, 52,

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GMS weekly report on ship breaking industry for WEEK 48

With the future of the Bangladeshi market still unclear, it has been left to Pakistan and India to pick up the reigns in recent weeks, something that they have done with aplomb.

Some more high profile vessels and prices were on show once again in India as Pakistan continued their recent

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Ukraine guarantees uninterrupted transit gas supplies to Europe

Interfax-Ukraine reported that Ukrainian Foreign Minister Mr Kostiantyn Hryschenko has once again pledged there will be uninterrupted supplies of Russian gas to Europe.

He said that "A repetition of the situation Europe went through [before] is impossible. This will never happen again. We


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Gazprom ready to negotiate lower prices for European clients

RIA Novosti reported that the world largest gas export monopoly, Russia Gazprom, said on Monday it was ready to cut prices on its long-term contracts to Europe as the volume of paid for but undelivered gas mounted.

Gazprom, which supplies Europe with a quarter of its energy needs has come

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