Indian steel price index further down by 29 points

The Indian Long Product Price Index ILPPI went down by 32 points whereas Indian Flat Product Price Index IFPPI went down by 25 points. The overall Indian Steel Price Index INDSPI went down by 29 points



Class 26-Apr 27-Apr Change %

ILPPI 7414 7382 -32 -0.4%

IFPPI 8570 8545 -25 -0.3%

INDSPI 7965 7936 -29 -0.4%


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

Long Products


Category 26-Apr 27-Apr Change %

PI - TMT 7115 7062 -53 -0.7%

PI - WRC 7974 7967 -7 -0.1%

PI - Angle 7018 6969 -49 -0.7%

PI - Channel 7132 7088 -43 -0.6%

PI - Joist 6604 6581 -23 -0.3%


PI - Product Index

Flat Products


Category 26-Apr 27-Apr Change %

PI - Narrow Plates 8129 8098 -31 -0.4%

PI - Wide Plates 8481 8459 -22 -0.3%

PI - Hot Rolled 8306 8278 -27 -0.3%

PI - Cold Rolled 9358 9341 -17 -0.2%

PI - Galvanized 9205 9183 -22 -0.2%


PI - Product Index

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Pencil ingot prices in down movement in major places on Apr 27

Pencil ingot


Location Change

Ahmedabad -700

Bhiwari 0

Durgapur -363

Ghaziabad -400

Hyderabad 0

Jaipur -400

Jamshedpur -700

Kanpur -262

Kolkata 0

Mandi -181

Mumbai -600

Muzzafarnagar -262

Nagpur -453

Raigarh 0

Raipur 0

Rourkela 0

Rudrapur -262


Change is on 27th April as compared to 26th April 2010
Change is in INR per tonne

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Sponge iron price goes down further in Bellary

Sponge iron


Location Change

Bellary -200

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 0


Change is on 27th April as compared to 26th April 2010
Change is in INR per tonne

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Wide steel plate price crash in Mumbai

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad -453

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mumbai -907

Raipur 0

Rudrapur 0


Change is on 27th April as compared to 26th April 2010
Change is in INR per tonne

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NDRC issues data for China main high energy consuming industries in Q1

As announced by China National Development and Reform Commission in Q1 of this year the added value output of China domestic large scale enterprises increased by 19.6%YoY up by 14.5 percentage points YoY while an increase of 18.1% was seen in March down 2.6 percentage points compared with

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Iron ore price negotiations - Chinese steel mills have to accept new terms

It is reported that part of the steel mills in China have accepted a 96.4% hike in the benchmark iron ore price settled between Vale SA and Japan a move that will weigh heavily on the profitability of the domestic steel industry.

According to the quarterly contract Vale signed with Japan

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Shagang Group sales revenue in Q1 up by 43pct YoY

Interfax-china reported that Jiangsu Shagang Group, China largest privately run steel mill generated a sales revenue of CNY 41.3 billion in the Q1 of 2010 up by 43%YoY.

According to a Zhangjiagang Daily report, in the Q1 Shagang produced 5.67 million tonnes of pig iron up by 14%, 6.79

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Panzhihua New Steel Vanadium earns CNY 176 million in Q1 2010

Panzhihua New Steel & Vanadium Co Ltd announced its Q1 report showing that its sales income for the season stood at CNY 9.64 billion up by 6.3%YoY and net profit, CNY 176 million or 0.03 earnings per share.

In the same period of last year, the company suffered a loss of CNY 894 million in

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Handan Steel rolls out API X70 oil pipeline steel

It is reported that Handan Steel has produced nearly 6,215 tonnes of X70 oil pipeline steel, indicating that the steel mills realize the batch production of pipeline steel by April 19 2010.

As per report it started production earlier from April 2nd with every index all meeting the

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Benxi Steel and Beitai Steel developing own iron ore mines

Liaoning Daily reported that in 2010 both Benxi Iron and Steel Co Ltd and Beitai Iron and Steel Co Ltd decided to pay more attention to developing their own ore mines with a bid to cope with global iron ore price hikes.

Benxi is the only city in China who owns two large sized steel mills,

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Four Chinese steel mills eying huge profit growth in Q1 2010

Shanghai Securities News reported that Daye Special Steel, Bayi Iron and Steel, SGIS Songshan Co Ltd and Jinan Iron and Steel issued their Q1 reports of 2010 April 24th all eyeing more than 100% growth rate for their returns versus the previous year despite the soaring iron ore and other

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Price increase in Chinese steel market stops in April

It is reported that in mid April prices increase in Chinese steel market stopped. The prices for rebar and HRC which are the most demanded products in long and flat steel sectors correspondingly, decreased at about USD 5 per tonne to USD 10 per tonne. There were no expectations of the fall.

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Dispute between China and US on currency issue

The press in the US and in China have been focused in recent weeks on the currency dispute between the US and China. At issue is the question of whether China is manipulating its currency as defined by law in the US. Should the US determine that China is manipulating its currency, then a

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Chinese steel traders liquidating inventories as steel prices fall

New macro control policies of the property market suspended the rapid increasing pace of rates in China and finally break the only rise myth in China’s steel market making the first prices fall since China’s New Year.

This has been taken by insiders as a sign of short term

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Iran is ready to start exporting gas to Switzerland

AFP reported that Iran does not plan to hold talks with UAE based Crescent Petroleum with which it has a long standing dispute over gas supply.

Mr Massoud Mirkazemi oil minister of Iran said that "We are ready to provide natural gas to Sharjah but we will not hold talks with

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Iranian non oil exports to Arab states hit USD 8 billion

Mehr News Agency reported that Iran exported around USD 8 billion worth of non oil products to Arab states in the past calendar year up 27% YoY.

As per report, the exports to Arab nations made up 37% of the Islamic Republic’s total exports last year. Exports to the Persian Gulf

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Schlumberger expects Iraqi oil sector growing in phases

Schlumberger expects that in order to avoid extra costs, the companies now setting up shop in Iraq to extract oil will only expand as they win new work.

Mr Andrew Gould CEO of Schlumberger said that the companies would be unlikely to earn much money from early work in the country, which

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Larsen and Toubro wins INR 212 crore order from MSEDCL

Electrical and electronics division of infrastructure major, Larsen & Toubro has bagged orders worth of INR 212 crore from Maharashtra State Electricity Distribution Company Limited.

Mr RN Mukhija president (Electrical and Electronics Division) of L&T said that “We have won an order

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Steel wire rod prices down at few places

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi 0

Kanpur 174

Kolkata -907

Raipur -436

Rudrapur 174


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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Steel angle prices down at most places on Apr 26

ANGL
GR A
65X6


Location Change

Ahmedabad -803

Bangalore -500

Chennai 0

Delhi 0

Indore -300

Kanpur -200

Kolkata -1040

Mandi -416

Mumbai -1147

Raipur -936

Rudrapur -400


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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HR steel prices update on Apr 26

HRC
Tube
2.5x1250


Location Change

Ahmedabad -453

Bangalore -523

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana 272

Mumbai 0


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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GC steel HDG- price movement on Apr 26

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur -349

Kolkata 0

Ludhiana 181

Mumbai 0

Rudrapur -436


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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Narrow HR steel plate price movement on Apr 26

PLTS
GR A
8x1250


Location Change

Chennai 0

Kanpur -174

Mumbai 0

Rudrapur -174


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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Patra Narrow HR steel strips price down in Mandi

Patra


Location Change

Delhi 0

Ludhiana 91

Mandi -363


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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GP steel HDG- price update on Apr 26

GP
100Gms
0.40


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 181

Kanpur -349

Rudrapur -436

Bangalore 0


Change is on 26th April as compared to 23rd April 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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GP steel HDG- price update on Apr 26

GP
100Gms
0.40


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 181

Kanpur -349

Rudrapur -436

Bangalore 0


Change is on 26th April as compared to 23rd April 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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Sumitomo Electric eying Indian trolley wire plant

Sumitomo Electric Industries eyes Indian plant to make trolley wire, which copper electric wire for electric train.

The firm already started study for Indian market and started contact with local government when the firm expects India will expand rail network with higher trolley wire

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Gurgaon metro turnkey contract awarded

Rapid MetroRail Gurgaon Ltd has awarded Siemens Mobility a turnkey contract to build a 6•1 kilometre metro line with six stations. The elevated route will link the business and residential district of Gurgaon to Delhi’s metro network at Sikanderpur on Line 2. Siemens is due to hand

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Gurgaon metro turnkey contract awarded

Rapid MetroRail Gurgaon Ltd has awarded Siemens Mobility a turnkey contract to build a 6•1 kilometre metro line with six stations. The elevated route will link the business and residential district of Gurgaon to Delhi’s metro network at Sikanderpur on Line 2. Siemens is due to hand

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Pennar Industries Q4 FY10 results update

Hyderabad based Pennar Industries Limited registered a standalone net sales for FY10 was up by 22.2% at INR 798.07 crores as compared to INR 653.27 crores in FY09. Its net Sales for Q4 of FY10 was up by 55.6% at INR 240.42 crores as compared to INR 154.47 crores in Q4 of FY09 and was up by 23%

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Slowdown signs - Maruti sales to Europe down by 20 to 30pct

The country’s largest car maker Maruti Suzuki has witnessed a 20% to 30% decline in sales to Europe in 2010-11 so far due to stoppage of scrappage schemes.

The report quoted Mr Shinzo Nakanishi CMD of Maruti Suzuki as saying that “Our sales have declined by at least 20% to 30%

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CR steel price movement on Apr 26

CR
DSK
0.63


Location Change

Ahmedabad 0

Bangalore -453

Chennai 0

Delhi 0

Kanpur 87

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0


Change is on 26th April as compared to 23rd April 2010
Change is in INR per tonne

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Steel light channel prices movement on Apr 26

CHNL
GR A
75/100


Location Change

Ahmedabad -803

Bangalore -500

Chennai 0

Delhi 0

Indore -300

Kanpur -100

Kolkata -1040

Mandi -416

Mumbai -1147

Raipur -520

Rudrapur -200


Change is on 26th April as compared to 23rd April 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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Wide steel plate price remains flat on Apr 26

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 0


Change is on 26th April as compared to 23rd April 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 joist I Beam prices scenario in major places

JSTI
GR A
250X125


Location Change

Ahmedabad -416

Bangalore 0

Chennai 0

Delhi 0

Indore -300

Kanpur -500

Kolkata -1040

Mandi -416

Mumbai -1147

Raipur -624

Rudrapur -300


Change is on 26th April as compared to 23rd April 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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Welspun India raises INR 156 crore via QIP route

Home textiles manufacturer Welspun India a part of Welspun Group has raised INR 156.03 crore through issue of shares to qualified institutional buyers.

Mr BK Goenka CMD of Welspun in a BSE filing said that “This QIP issuance once again depicts the faith investors have reposed in the

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JSW Steel seen posting profit in Jan to Mar quarter

India's No 3 producer of the alloy JSW Steel Ltd is seen turning to profit in the January to March quarter mirroring its Asian peers, boosted by robust demand and better realizations.

According to a poll of brokerages, JSW Steel will post a net profit of INR 5.3 billion in the quarter

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Macroeconomic indicators - Chinese CPI in March up by 2pct

According to the National Bureau of Statistic, China consumer price index the main gauge of inflation rose 2.4%YoY in March.

Mr Li Xiaochao NBS spokesman said the CPI was down 0.7% from the previous month and for the Q1 up by 2.2%YoY from the same period last year. He said that the

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China province wise seamless steel tube output in 3 months

It is reported that China province wise seamless steel tube output during January to March 2010 total 5.34 million tonnes which Jiangsu topping the table.

Province Mar'10 Mar'09 Change Jan-Mar'10 Jan-Mar'09 Change
Total 2.07 1.94 6.8% 5.34 5.01 6.5%
Jiangsu

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China may raise small vehicle consumption tax in 2011

Bloomberg cited an official at the State Information Center said China may raise the consumption tax on small cars next year as a reduced rate is no longer needed to boost sales.

Mr Xu Changming a research director at the center said the government may restore a 10 percent tax rate on

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Datang International Power denies report about spin off plans

China Knowledge reported that Datang International Power Generation Co China second largest publicly traded electricity producer issued a statement denying the earlier media report that the company has secured approval from regulators to spin off some of its assets for an initial public

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MIIT reiterates elimination and to prohibit dodgers

People's Daily reported that the Ministry of Industry & Information Technology issued an urgent notice which says to forbidden to be eliminated small blast furnaces to escape from selection under the name of shifting to make cast iron ore.

The ministry reminds local governments to pay

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Hualing Steel sales revenue in Q1 2010 up by 23pct YoY

According to the quarterly financial report issued by Hunan based Hualing Steel, in Q1 2010 the Chinese steel producer registered sales revenue of CNY 12.244 billion up by 22.12%YoY.

The company registered a loss of CNY 275 million for the quarter, marking a slight improvement compared with

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China FAW plan to invests heavily in own brand

It is reported that China FAW Group Corp plans to invest CNY 19 billion in research and development over the next five years to accelerate development of own brand vehicles and to boost sales.

FAW said the partner of Toyota Motor Corp and Volkswagen aims to sell more than 4 million cars by

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Ma Steel achieves net profit of CNY 521 million in Q1

It is reported that Anhui Province based Chinese steelmaker Ma Steel has revealed its financial report for the Q1 of 2010. With product prices and sales volumes both increasing, the producer achieved a profit in Q1 this year, compared to the loss it recorded in the same period of last

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Inner Mongolia Dongwu proves 30 billion tonnes of coal reserves

It is reported that Dongwu in Inner Mongolia raised its coal reserves by 38% from 22 billion tonnes to 20.3 billion tonnes. The future reserves will reach 58.2 billion tonnes.

Large coalfields include Gaolihan and Wunite with 12.6 billion tonnes and 6.5 billion tonnes reserves respectively. Four medium sized ones are Ehebaolige, Daotenaoer, Zhunhanaoer and Baiyinhubuer which have 4.3 billion tonnes, 2.8 billion tonnes, 1.75 billion tonnes and 1.1 billion tonnes reserves respectively. Two small ones are 974 million tonnes Aladabusi and 243 million tonnes Baolige.

(Sourced from http://www.steelguru.com/news/index/2010/04/26/MTQyOTQ5/Inner_Mongolia_Dongwu_proves_30_billion_tonnes_of_coal_reserves.html)

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Indonesia aims to tap volcano power

AFP reported that Indonesia has launched an ambitious plan to tap the vast power of its volcanoes and become a world leader in geothermal energy, while trimming greenhouse gas emissions.

The sprawling archipelago of 17,000 islands stretching from the Indian to the Pacific Oceans contains hundreds of volcanoes, estimated to hold around 40% of the world's geothermal energy potential. But so far only a tiny fraction of that potential has been unlocked, so the government is seeking help from private investors, the World Bank and partners like Japan and the United States to exploit the power hidden deep underground.

Mr Surya Darma chief of Indonesian Geothermal Association said that the government's aim to add 4,000 MW of geothermal capacity from the existing 1,189 MW by 2014 is truly challenging.

One of the biggest obstacles is the cost. Indonesia currently relies on dirty coal fired power plants using locally produced coal. A geothermal plant costs about twice as much and can take many more years in research and development to get online. But once established, geothermal plants like the one built in Kamojang, Java, in 1982 can convert the endless free supplies of volcanic heat into electricity with much lower overheads and less pollution than coal.

This is the pay off the government is hoping to sell at the fourth World Geothermal Congress opening on the Indonesian resort island of Bali. The six day event will attract some 2,000 people from more than 80 countries.

Mr Herman Darnel Ibrahim analyst of energy said that an investment of 12 billion dollars is needed to add 4,000 MW capacities putting into context the recent announcement of USD 400 million in financing from lenders including the World Bank and the Asian Development Bank. Field exploration can take from 3 to 5 years, suitability studies for funding takes a year, while building the plant itself takes three years. If there is any country in the world where geothermal makes sense it is Indonesia. Yet despite its natural advantages, it lags behind the United States and the Philippines in geothermal energy production.

Southeast Asia's largest economy and the world's third biggest greenhouse gas emitter exploits only seven geothermal fields out of more than 250 it could be developing. The case for geothermal has become stronger with the rapid growth of Indonesia's economy and the corresponding strain on its creaking power infrastructure.

The archipelago of 234 million people is one of the fastest growing economies in the Group of 20 but currently only 65% of Indonesians have access to electricity. The goal is to reach 90% of the population by the end of the decade, through a two stage plan to fast track the provision of an extra 10,000 MW by 2012, mostly through coal and another 10,000 MW from clean sources like volcanoes by 2014.

(Sourced from http://www.steelguru.com/news/index/2010/04/26/MTQyOTQ4/Indonesia_aims_to_tap_volcano_power.html)

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Prominsur looks for Peruvian partners to develop strategic alliances

BNamericas reported that Chilean industry suppliers association Proveedores Mineros del Sur will start looking for Peruvian counterparts to partner with them and address both local and other Latin American markets under a single brand.

The report quoted Mr Orlando Castillo CEO of Prominsur as saying that recently formed Prominsur is a project driven by Chile's manufacturers and service exporters association Asexma the technological development and capital assets corporation CBC and mining suppliers group Minnova Minexport with the support of state development agency Corfo. The project aims at creating a common Chilean brand for suppliers of the mining industry and to position them in foreign markets.

Mr Castillo said that "We see today that there is a great opportunity to complement efforts for business development in both the Chilean and Peruvian mining industries, as both countries' sectors have huge investment portfolios for the next five years.”

He added that "The idea is to create strategic alliances between Chilean and Peruvian suppliers in order to take advantage of the opportunities in the mining sector with a focus on Latin America. I think this association will be the driver to facilitate the development of both industries."

Prominsur currently has 11 member companies contributing with direct investment in the project, which completed the design stage two weeks ago and now is working on starting the positioning of the brand both in Chile and Peru.

Association board member Alejandra Molina told BNamericas that Prominsur will be present in several mining related activities in Peru over this year to make the project known in the country and start generating interest among suppliers.

The project has also had the support of Chile's export promotion agency ProChile.

(Sourced from http://www.steelguru.com/news/index/2010/04/26/MTQyOTQ3/Prominsur_looks_for_Peruvian_partners_to_develop_strategic_alliances.html)

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China Coal Energy net profit in 2009 up by 10pct

China Knowledge reported that China Coal Energy Co Ltd net profit rose 10% to CNY 7.83 billion in 2009 from CNY 7.13 billion in 2008 boosted by an increase in coal output amid rising demand.

The firm said in its annual report that its revenue climbed 2.8%YoY to CNY 53.19 billion last year.

In 2009, China Coal Energy produced 108.6 million tonnes of coal, 8.2% more than in the previous year.

The coal producer recently released its financial results for the Q1 2010 which said its net profit surged 42% to CNY 1.98 billion from the CNY 1.39 billion realized in the same period of 2009.

The firm operating profit jumped 55%YoY to CNY 15.59 billion in the period from January to March of this year.

China Coal Energy said earlier this month that its commercial coal output grew 44%YoY to 31.31 million tonnes in the Q1 of this year, while its coal sales swelled 48% to 26.5 million tonnes during the period.

(Sourced from China Knowledge)

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Taiyuan Steel ink equipment supply contract with global giants

It is reported that Shanxi based Chinese steel producer Taiyuan Steel has signed an equipment supply contract with major international equipment manufacturers including Finland based Metso and US based General Electric as well as with China CITIC Heavy Industries Co regarding the supply of

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Echeng Steel develops new automobile panel

It is reported that Hubei Echeng Iron and Steel Co Ltd has successfully trial produced DC03 and DC04 auto panel with the thickness of 0.8mm which entirely met customers demand in recent times.

As per report, with a bid to fully display the mill production capacity, Wugang decided to set up

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Chinese shipbuilders under pressure from SBQ plate price surge

It is reported that the new round of ship plate price rise may make domestic shipbuilders feel colder.

As one of the important parts of shipbuilding cost, ship plate price is always a support for shipbuilders to stand against the ship price fall. But shipbuilders feel aggravating pressure

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Playing a Chinese Yuan revaluation

Reuters reported that as the day when China will unleash its currency from a 20 month old virtual peg draws closer, investors are picking trades that can profit the most from any Yuan revaluation.

The most obvious candidates are Asian currencies with a close correlation to the Yuan,

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US AD duties on Chinese seamless pipes to escalate trade row

It is reported that the United States Commerce Department has set preliminary antidumping duties on imports of certain seamless pipes from China a move that might escalate trade rows between the two countries.

The department said recently that it preliminarily determined Chinese firms have

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Steel industry profit margin at 3pct in January to February 2010

National Business Daily cited Mr Zhu Hongren spokesman of the Ministry of Industry & Information Technology as saying that the steel industry is faced with harsh situation despite that lifting of steel prices can partly pass on the production companies.

Mr Zhu said amid overcapacities,

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Macroeconomic indicators - Chinese GDP in Q1 grows by 12pct

It is reported that China economy expanded 11.9%YoY in the Q1 indicating a solid recovery of the world third largest economy, but also fanning concerns of asset bubbles.

The National Bureau of Statistics said the gross domestic product in the first three months totalled CNY 8.07 trillion.

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Hebei Steel Group opts for short term pricing period

It is reported that Hebei Iron & Steel Group followed the step of Baosteel to moderately increase May ex works prices of its main steel products like wire rod and rebar.

As reported, Hebei Iron & Steel Group formally announced to lift its May prices by CNY 100 per tonne to CNY 400 per tonne

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Updated directory of Indian steel makers

The fast developing Indian steel industries are continuing beyond what most believed was possible. As one of the world's fastest growing economies, India has become the most happening place among world steel market over last few years and thus is in the radar of not only Indian but most of

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Monday Market Monitor - China - WEEK 16 - Rebound likely

The Chinese domestic steel prices remained in downward movement last week. The Chinese Long Product Price Index CLPPI decreased by 40 points whereas the Chinese Flat Products Index CFPPI also declined by 38 points. The overall price index CHISPI dropped by 39 points.

But contrary to

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Kuwait crude oil exports to China in March jumps by 26pct YoY

KUNA reported that Kuwait's crude oil exports to China jumped 26.4% in March from a year earlier to 945,100 tonnes equivalent to around 224, 000 barrels per day.

According to the General Administration of Customs, Kuwait provided 4.5% of China's total crude oil imports compared with 4.6%

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Iran starts tapping Hengam oilfield

Mehr News Agency reported that Iran started producing oil from Hengam oilfield, associated with Oman in the Persian Gulf.

Mr Mahmoud Zirakchianzade MD of Iranian Offshore Oil Company said that the country began on 24th 2010 producing 4,500 barrels of crude oil per day from the

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KTL Global to set up rigging facility in UAE

KTL Global is setting up USD 6 million rigging manufacturing facility near the city of Sharjah in the United Arab Emirates.

The offshore equipment supplier said that the facility will be located on a 10,000 square meter plot of industrial land located inside the Hamriyah Free Zone. This is

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KFAED signs sewage network contract

KUNA reported that Dr Mohammad Sadeghi resident representative of the Kuwait Fund for Arab Economic Development in Lebanon signed a construction contract to start work of sewage network in the area of Bint Jbeil in southern Lebanon.

Following the signing of the contract at the Municipality

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Pencil ingot price movement in major places

Pencil ingot


Category 22-Apr 23-Apr Change %

PI - Narrow Plates 8157 8152 -4 -0.1%

PI - Wide Plates 8476 8481 4 0.1%

PI - Hot Rolled 8344 8336 -8 -0.1%

PI - Cold Rolled 9366 9367 1 0.0%

PI - Galvanized 9235 9218 -17 -0.2%


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

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Indian steel price index down trend reflects continued weakness

The Indian Long Product Price Index ILPPI went down by 55 points whereas Indian Flat Product Price Index IFPPI went down by 6 points. The overall Indian Steel Price Index INDSPI went down by 32 points



Class 22-Apr 23-Apr Change %

ILPPI 7564 7509 -55 -0.7%

IFPPI 8597 8591 -6 -0.1%

INDSPI 8056 8024 -32 -0.4%


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

Long Products


Category 22-Apr 23-Apr Change %

PI - TMT 7283 7246 -37 -0.5%

PI - WRC 8114 8032 -82 -1.0%

PI - Angle 7173 7130 -43 -0.6%

PI - Channel 7276 7233 -43 -0.6%

PI - Joist 6714 6684 -30 -0.5%


PI - Product Index

Flat Products


Category 22-Apr 23-Apr Change %

PI - Narrow Plates 8157 8152 -4 -0.1%

PI - Wide Plates 8476 8481 4 0.1%

PI - Hot Rolled 8344 8336 -8 -0.1%

PI - Cold Rolled 9366 9367 1 0.0%

PI - Galvanized 9235 9218 -17 -0.2%


PI - Product Index

To know more about these indices please visit
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You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

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Rebar TMT QST prices remain under pressure in India

TMT
Fe 415
12mm


Location Change

Ahmedabad -100

Bangalore -500

Chennai 0

Delhi -500

Hyderabad 0

Indore -200

Kanpur -200

Kolkata 0

Mandi 0

Mumbai -229

Raipur -520

Rudrapur 0


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

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Steel melting scrap price scenario on Apr 23

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla 0

Kanpur -87

Kolkata -181

Mandi 272

Mumbai 0

Rudrapur -87


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

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Sponge iron price remains flat on Apr 23

Sponge iron


Location Change

Bellary 0

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 0


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

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Mitsubishi Motors targets 44 pct growth in China

Reuters reported that Mitsubishi Motors Corp is aiming to boost its sales by 44% this year in the booming China market, with a target to more than double sales there in 2015 from last year levels.

Mr Osamu Masuko President of Mitsubishi Motors Corp said the company is aiming to sell 180,000

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6th Steel Development Strategy Conference to Start Soon in Shanghai

On April 23-25 2010 Shanghai SteelHome website (www.steelhome.cn/en) is organizing the 6th Steel Development Strategy Conference in Shanghai, which attracts attentions from different field.

Over 100 delegates from steel mills, 600 delegates from trading companies and end users, and other

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Sinochem to take over Anshan Steel real estate business

It is reported that China Sinochem Group Corporation, one of 78 state owned companies that do not specialize in the real estate industry are required to withdraw from the industry inked a strategic cooperation framework agreement with the city government of Anshan on April 7th 2010.

Mr Li

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Liuzhou Steel net profit zooms 16 folds in 2009

Liuzhou Iron and Steel Co Ltd recently announced its 2009 annual report, showing that its net profit of last year posted an amazing growth of 1641.25% from a year ago arriving at CNY 270 million.

The report shows the steel mill earned operation income of CNY 26.56 billion down by 9.07% from

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Chinese MIIT to set capacity elimination targets by May end

Economic Reference cited Mr Zhu Hongren spokesman of the Ministry of Industry & Information Technology disclosed that, timetable for backward capacity elimination has been fixed, and completion of the targets will be included in local governments' Performance Assessment.

He said the

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Chongqing Steel aiming to be leader in Chinese SBQ plate market

According to Mr Zhang Zaikun, vice chairman of Chongqing Steel Wide & heavy plates flowed from Chongqing Steel 4100mm line are easy to sell.

Mr Zhang says each sheet of the plate has been sold before it is rolled off the production line. It’s the wide & heavy plate that helps the

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Vopak to expand Fujairah terminal storage capacity

Trade Arabia reported that Vopak Horizon Fujairah has decided to expand its storage terminal for oil products in the Port of Fujairah by 606,000 cubic meters to meet market demand.

As per report, the expansion reinforces Vopak Horizon Fujairah’s position as a bunkering center and

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Pakistan witnesses 15 fold rise in car prices in 2 years

Daily Times reported that the local car manufacturers are exceeding the limits of increasing their car prices in parity with the local rising inflation to earn hefty profits.

While compiling the data of nearly 2 years this scribe found out that the local car manufacturing companies have

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Indian steel price index continues to reflect weak sentiments

The Indian Long Product Price Index ILPPI went down by 11 points whereas Indian Flat Product Price Index IFPPI wet up by 1 point. The overall Indian Steel Price Index INDSPI went down by 6 points



Class 21-Apr 22-Apr Change %

ILPPI 7575 7564 -11 -0.1%

IFPPI 8598 8597 -1 0.0%

INDSPI 8062 8056 -6 -0.1%


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

Long Products


Category 21-Apr 22-Apr Change %

PI - TMT 7300 7283 -17 -0.2%

PI - WRC 8120 8114 -5 -0.1%

PI - Angle 7182 7173 -10 -0.1%

PI - Channel 7286 7276 -9 -0.1%

PI - Joist 6724 6714 -10 -0.1%


PI - Product Index

Flat Products


Category 21-Apr 22-Apr Change %

PI - Narrow Plates 8167 8157 -11 -0.1%

PI - Wide Plates 8474 8476 3 0.0%

PI - Hot Rolled 8344 8344 0 0.0%

PI - Cold Rolled 9366 9366 0 0.0%

PI - Galvanized 9241 9235 -6 -0.1%


PI - Product Index

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

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

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6 projects underway in Benxi Steel processing industrial park

Liaoning Daily reported that six steel processing projects started the construction simultaneously in Benxi steel processing industrial part on April 18th.

The investment of the six projects totals CNY 806 million. These projects can realize CNY 1290 million of production value and CNY 116

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Angang Steel profit to be squeezed by soaring iron ore price

It is reported that Angang Steel Co Ltd plans to expand outputs of crude steel and steel products both by around 10% this year, but its profit may be greatly squeezed by the constantly growing iron ore price.

Mr Fu Jihui secretary of the board of directors of Angang Steel said at the

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Steel plate cuttings prices remain flat at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 0

Ship Scrap Melting Mixed 0


Change is on 22nd April as compared to 21st April 2010
Change is in INR per tonne

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Steel melting scrap price crashes at Hyderabad

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad -1000

Kandla 100

Kanpur 0

Kolkata 0

Mandi -181

Mumbai 0

Rudrapur -174


Change is on 22nd April as compared to 21st April 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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Sponge iron price remains flat on Apr 22

Sponge iron


Location Change

Bellary 0

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 0


Change is on 22nd April as compared to 21st April 2010
Change is in INR per tonne

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Pig iron price dips at major places on Apr 22

Pig iron
Foundry Grade


Location Change

Agra -544

Jallandhar -363

Kolkata -635

Raipur -544


Change is on 22nd April as compared to 21st April 2010
Change is in INR per tonne

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Meigang begins construction of BF No 5

It is reported that China Shanghai based steel company Meishan Iron and Steel Co Ltd officially commenced construction of its No 5 blast furnace a few days ago. Baosteel Group announced April 14.

Meigang No 5 blast furnace represents a key construction work constituting the Meigang Phase II

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New Chinese bar mill includes Siemens VAI bar reducing and sizing mill

To achieve greater operating efficiency, improved product tolerance and mechanical properties, Quzhou Yuanli Metal Products Co Ltd has ordered from Siemens VAI a Bar Reducing/Sizing Mill.

The equipment will be incorporated into the mill layout for a completely new bar mill to be erected in

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Chinese domestic CR steel demand exceeds supply - Traders

Bloomberg quoted a trader said Chinese demand for cold rolled steel products, used to make cars and appliances, is exceeding domestic supply and depleting inventories, underpinning prices that have gained 9% this year.

Mr Cui Jianhua chairman of Shanghai Baiying Iron & Steel Group said

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Hebei Steel raises EXW prices for May

Recently Hebei Steel announced its pricing policy for May. Compared with Angang and Wugang who have significantly raised their EXW price, Hebei Steel increases the prices of its main products such as WRC and rebar moderately, more like that of BaoSteel.

According to Hebei Steel pricing

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US DOC imposes preliminary AD duties on Chinese OCTG pipes

The US Commerce Department imposed preliminary duties averaging 62% on imports of some seamless pipe from China, in a dumping case filed by US pipe producers.

On April 22, the US Department of Commerce announced its affirmative preliminary determination in the antidumping duty investigation

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Algeria expects LNG market to revive in 2013

KUNA cited Mr Chakib Khalil minister of energy and mining of Algeria as saying that the world demand for gas would grew in 2013, while his Russian counterpart Mr Sergey Ivanovich Shmatco said that the gas exporting countries were unanimous in supporting the pegging of gas and oil prices.

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Qatar says gas prices are unfair

Press TV reported that Qatar's gas prices should be more closely connected to that of crude oil, refusing however to cut natural gas output to help boost prices.

Mr Abdullah bin Hamad Al Attiyah deputy Premier and minister of energy and industry of Qatar told reporters in Algerian city of

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Samsung Engineering upbeat on contract to develop part of the Shah Gas project

DJ reported that South Korean firm confident of securing USD 1.4 billion contract to develop part of the Shah Gas project

Samsung Engineering Company expects to win in late April or early May a USD 1.4 billion contract tendered by JV set up by Abu Dhabi National Oil Company and

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World biggest gas exporters meet to cut glut

Reuters reported that many of the world’s biggest gas exporters gathered in Algeria in search of a plan to boost gas prices without causing further pain for any members of the Gas Exporting Countries Forum.

Energy ministers from Europe’s three biggest external gas suppliers

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Exxon to lead water injection project in Iraq

Reuters reported that Exxon Mobil has been picked to lead a 'multibillion dollar water injection project on behalf of international oil companies that won contracts in southern Iraqi oilfields.

Mr Abdul Mahdy Al Ameedi director of the Oil Ministry's licensing office said that the cost of

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Mini steel mill of South Steel Company to be completed in Q2 2011

The Phase I of local South Steel Company's USD 221 million steel plants being constructed at the Jizan Economic City in southern Saudi Arabia has finished initial engineering and started civil works on schedule.

Phase I of the facility will involve the construction of a complete mini mill

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Khouzestan Steel output in last Iranian year up by 9pct YoY

According to the newly published figures from the Iranian Mines and Mining Industries Development and Renovation Organization, Iranian steelmaker Khouzestan Steel produced 2,565,000 tonnes of crude steel in the last Iranian year up 9% compared to 2,355,000 tonnes in the previous

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6 cement plants not complying with emission standards

Mr Jairam Ramesh environment minister informed the Rajya Sabha that six out of 128 cement plants in the country are not complying with the prescribed emission standards.

Mr Ramesh said that the non compliant plants are

1. Cement Corporation of India, Bokajan in Assam
2. Bagalkot Cement

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Rays of recovery - Hero Honda posts its best quarterly result

Country’s largest two wheeler manufacturer Hero Honda Motors posted a net profit of INR 598.8 crore in the fourth quarter of 2009-10, its highest to date, as compared to INR 402.2 crore during the corresponding quarter of 2008-09 growth of 48.9%. The turnover for the just concluded

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Maruti to raise engine output in India - Nikkei

Nikkei business daily reported that Suzuki Motor Corp will increase its engine output capacity in India by about 30% to more than 1.25 million units a year by setting up a new line dedicated to low pollution models.

The paper said that Suzuki will invest nearly JPY 10 billion (USD 108.2

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Siemens seeks land in Dahej for wind turbine unit

Siemens India has requested the Gujarat Government to allot 100 acre in Dahej to set up a wind turbine manufacturing unit.

Siemens at an investment of INR 500 crore, the company is all set to manufacture high end technology wind turbines with a total capacity to generate 200 MW a

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Suzlon REpower to supply 44 wind turbines to Turkey

REpower Systems AG in which Suzlon Energy Limited is a majority shareholder with over 90% holding has concluded a contract with Al Yel Elektrik a subsidiary of Akuo Energy SAS for the delivery of 44 wind turbines for a projecting Turkey.

The turbines of the REpower 3.XM series, which are at

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Naxal hits to pull NMDC net down by INR 1000 crore - Report

When the India’s largest iron ore producer, NMDC declares its financial results for 2009-2010, it will report a INR 1,000 crore drop in net profit. Not on account of last year’s slowdown, but Naxalite attacks.

NMDC has been operating for the past 43 years in what has now become

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Steel wire rod prices down in Delhi and Kanpur

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi -836

Kanpur -174

Kolkata 0

Raipur 0

Rudrapur -262


Change is on 20th April as compared to 19th April 2010
Change is in INR per tonne

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Steel angle prices dips in Bangalore and Mumbai

ANGL
GR A
65X6


Location Change

Ahmedabad -344

Bangalore -1200

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai -574

Raipur 0

Rudrapur -100


Change is on 20th April as compared to 19th April 2010
Change is in INR per tonne

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Steel light channel prices update on Apr 20

CHNL
GR A
75/100


Location Change

Ahmedabad -631

Bangalore -1500

Chennai 0

Delhi 0

Indore 0

Kanpur -200

Kolkata 0

Mandi 104

Mumbai -574

Raipur 0

Rudrapur -200


Change is on 20th April as compared to 19th April 2010
Change is in INR per tonne

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Steel joist I Beam price scenario in major places

JSTI
GR A
250X125


Location Change

Ahmedabad -208

Bangalore -800

Chennai 0

Delhi 0

Indore 0

Kanpur -400

Kolkata 0

Mandi 104

Mumbai -574

Raipur 0

Rudrapur -400


Change is on 20th April as compared to 19th April 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 patra Narrow HR strips price crashes in Delhi

Patra


Location Change

Delhi -725

Ludhiana -272

Mandi 0


Change is on 20th April as compared to 19th April 2010
Change is in INR per tonne

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Narrow HR steel plate price remains flat on Apr 20

PLTS
GR A
8x1250


Location Change

Chennai 0

Kanpur 0

Mumbai 0

Rudrapur 0


Change is on 20th April as compared to 19th April 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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HR steel prices remains down in Delhi

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -867

Indore 0

Kolkata 0

Ludhiana 0

Mumbai 0


Change is on 20th April as compared to 19th April 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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Sarda Energy commissions new wire rod mill

It is reported that Sarda Energy & Minerals has started commercial production at its 180,000 tonne wire rod mill.

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Jindal Saw Q1 net profit up 86pct

It is reported that Jindal Saw net profit up by 86.23% in the quarter ended March 31st 2010. It stood at INR 178 crore this quarter as against INR 95.58 crore in the corresponding period a year before.

Net sales, meanwhile, was down by 25.78% to touch INR 1,086.27 crore this quarter as

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Chhattisgarh steel makers irked by NMDC pricing policy

BS reported that secondary steel makers in Chhattisgarh will launch a campaign against state run National Mineral Development Corporation for its alleged un favorable pricing policy for the domestic steel producers.

Mr Anil Nachrani president of Chhattisgarh Sponge Iron Manufacturers

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POSCO SAIL Bokaro JV project facing delays

ET reported that differences over location and control have delayed the plans of Korean steel major POSCO and country’s largest steel maker SAIL to jointly set up a steel plant in Jharkhand.

Both the partners are keen on a controlling stake in the joint venture steel plant. The two

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Downsizing deals - TATA Steel open to Corus Teesside plant sale

TATA Steel said that it is continuing efforts alongside European unit Corus to find a solution for the Teesside plant in northern England and remained open for offers from third parties.

A Corus spokesman told Reuters in an e mailed statement that “Corus and TATA Steel are continuing

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Chile operations of Gerdau back online after Feb earthquake

Reuters reported that Latin America's biggest steelmaker Gerdau said on Monday its operations in Chile were back at full capacity after it reopened the last of its plants closed following a massive February 27 earthquake.

Gerdau said in a statement its Chilean operations would recover

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Schnitzer Steel acquires assets of Golden Steel and Recycling

Schnitzer Steel Industries Inc announced that it has acquired substantially all of the assets of Golden Recycling & Salvage Inc of Billings. Schnitzer's subsidiary, SSI Big Sky LLC, purchased the assets and is now operating the facility as Schnitzer Steel Billings.

Mr Don Hamaker president

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Steel service center shipments in US and Canada surge in March

The Metals Activity Report from the Metals Service Center Institute shows that March shipments steel products from metals service centers in the United States and Canada rose at double digit rates from year ago volume and inventories in both nations rose slightly.

Shipments of steel

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Russia and Qatar plan joint gas projects in Russian Arctic

RIA Novosti quoted the energy ministers of both countries said in a joint statement that Russia and Qatar are planning joint projects to develop gas deposits on the Yamal Peninsula in the Russian Arctic.

The statement was signed by Mr Sergei Shmatko Russian Energy Minister and his Qatari

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Development of Shtokman gas field to start in spring 2011

RIA Novosti cited Mr Vladimir Putin Prime Minister of Russia as saying that the development of the Shtokman gas condensate field in the Russian sector of the Barents Sea will start in the spring of 2011.

Mr Putin said "In the spring of next year, an investment decision is due to be made

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OMK HRC production crosses 1 million tonnes mark

Russian steel and pipe producer OMK has announced that its foundry and rolling facility has produced its first 1 million tonnes of hot rolled coils since it was commissioned in October 3rd 2008.

Meanwhile, OMK's total deliveries of the products of its foundry and rolling facility since it

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Hyundai assembly plant goes operational in Kemerovo region

Itar Tass reported that a Hyundai assembly plant went operational in the Kemerovo region on recently. The plant will produce both busses and trucks.

The JV of the Korean Hyundai Motors and Russia Kuzbas Auto has attracted RUB 420 million for the construction and equipment of the plant's

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GeoSteel to use local scrap for Georgian steel mill

It is reported that GeoSteel is hoping to spearhead the rejuvenation of Georgia's metallurgical industry and boost its economy by using local scrap metal to produce construction materials.

It may be noted that GeoSteel, a USD 60m mini mill that melts steel scrap then rolls it into

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Donetskstal denies coking coal JV plans with ArcelorMittal

It is reported that the Ukrainian steel group Donetskstal has denied reports that it has made a proposal to ArcelorMittal to create a JV for the production of coking coal at the Karagaylinskaya mine located in Russia's Kemerovo region or to sell 50% of the mine to ArcelorMittal.

It said

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Severstal invests RUB 220 million in pipe production

It is reported that Russian steelmaker Severstal plans in 2010 to invest RUB 220 million in pipe production at its Russian Steel division, in order to improve the quality and increase the output of large diameter pipes, amid rising demand in the Russian domestic market.

In particular,

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Steel melting scrap prices crash across India on Apr 19

Melting scrap
80:20
HMS


Location Change

Chennai -907

Hyderabad -1000

Kandla 300

Kanpur -87

Kolkata -453

Mandi -363

Mumbai -200

Rudrapur -349


Change is on 19th April as compared to 16th April 2010
Change is in INR per tonne

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Steel rebar TMT QST price movement in India on Apr 19

TMT
Fe 415
12mm


Location Change

Ahmedabad -500

Bangalore -1000

Chennai -2080

Delhi 0

Hyderabad -2000

Indore -700

Kanpur 0

Kolkata 0

Mandi -416

Mumbai -1147

Raipur -1040

Rudrapur 0


Change is on 19th April as compared to 16th April 2010
Change is in INR per tonne

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Steel rebar TMT QST price movement in India on Apr 19

TMT
Fe 415
12mm


Location Change

Ahmedabad -500

Bangalore -1000

Chennai -2080

Delhi 0

Hyderabad -2000

Indore -700

Kanpur 0

Kolkata 0

Mandi -416

Mumbai -1147

Raipur -1040

Rudrapur 0


Change is on 19th April as compared to 16th April 2010
Change is in INR per tonne

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MMK announces operational trading update for Q1 2010

MMK announce its operational trading update for Q1 2010

1. Crude steel output in Q1 2010 amounted to 2.732 million tonnes up by 7% QoQ

2. High value-added products output increased by 5%, while its share in finished products output remained the same - 30%.

3. MMK kept on increasing

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CNPC finishes early stage huge gas storage plans

Reuters reported that state owned CNPC has completed some early stage construction of China largest underground natural gas storage project in northern Shaanxi province.

China suffered a serious gas shortage during the past winter as demand surged while supply was curbed, partly by

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Jinglong kicks off silicon project in Hebei

China Knowledge reported that Jinglong Group, a silicon manufacturer based in Hebei Province recently started construction on a monocrystalline wafer project that will have an annual output of 18 million wafers.

According to the plan, the enterprise intends to set up a subsidiary with a

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Abrasion resistant steel of Baosteel fills domestic gap

Recently, Baosteel Special Steel Business Unit has succeeded in the trial production of certain manganese abrasion resistant steel in the hot rolling alloy sheet and strip line which has filled the domestic emptiness. Since the 8 months of the trial production of the hot rolling alloy sheet

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Jinxi Steel receives KSA certification for H beams

It is reported that Hebei Province based Chinese steelmaker Jinxi Iron and Steel Co recently received certification from the Korean Standards Association for its H-section steel production.

The awarding of KSA certification will boost the reputation of the steelmaker H-section production

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Baosteel will establish wheel production project in Shandong

It is reported that a cooperation agreement has been signed between BaoSteel Metal Ltd. and local government of Shandong Yantai to establish a wheel production project in Fushan a district of Yantai lately. And this represents BaoSteel has taken a new pace in auto parts processing

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China to devote USD 20 billion to Venezuela projects - Mr Chavez

AP quoted Mr Hugo Chavez President of Venezuela has announced an agreement with China that would have the Asian economic giant devote USD 20 billion to financing long term development projects in Venezuela.

Mr Chavez said the financing would go toward industrial and infrastructure projects,

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China Yangzijiang to buy stake in Singapore rig maker

Reuters reported that China Yangzijiang Shipbuilding and a Middle Eastern investor will buy an indirect stake in Singapore based oil rig maker PPL Shipyard in a SGD155 million deal.

According to the report, Yangzijiang has offered to buy Baker Technology BASE.SI fully owned vehicle PPL

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WISCO wants to set up steel mills in Brazil

China Business News reported that Wuhan Iron and Steel Corporation has further confirmed its investment plan of building a steel mill in Brazil with USD 5 billion as Mr Hu Jintao China President signed a series of cooperation agreements with Brazil government.

Among the contracts, China may

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China Tian Yuan Mining plans up to USD 500 million HK IPO

Reuters quoted two sources close to the deal said Chinese iron ore producer China Tian Yuan Mining Ltd aims to raise between USD 400 million and USD 500 million from a Hong Kong initial public share offering.

Tian Yuan which kicked off pre marketing for the IPO recently planned to issue 600

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Angang Pangang and Benxi Steel to jointly build steelmaking giant

It is reported that Anshan Iron & Steel Group Corp, Pangang Group Co Ltd and Benxi Iron & Steel Co Ltd will jointly build a new 46 million tonnes per year steelmaking giant, namely Anshan Iron & Steel Corp.

Insider of Angang said “Angang and Benxi Steel have set up Anben Iron & Steel

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Valin Steel expects CNY 260 million to CNY 290 million of loss in Q1

It is reported that Valin Iron & Steel Co Ltd expected it would loss CNY 260 million to CNY 290 million during January to March 2010.

The company showed its Q1 deficit was mainly attributed to the price jump in raw material price in the first three months, when price rise of steel products

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Ansteel raise steel price for May 2010

Ansteel raise steel price for May, which is based on April price. All the following price don’t include 17% VAT.

1. HRC:
HRC up CNY 300 per tonne
Low carbon grade up CNY 260 per tonne
3.5mm ++ specs: up CNY 40 per tonne further
SPHC 3.1*1000mm to 1199mm is priced at CNY 4210 per

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Chinese steel prices to retreat in near future - Analysts

China Economic Times citing an analyst with the state council development research center as saying that steel consumption and demand in China have presented some recovering signs while the global economy may not get rid of the crisis effects entirely until in a certain period.

The analyst

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Prequalification of consultants for Oman National Railway Project begins

Oman Daily Observer the government recently kicked off the process of prequalifying bidders for 2 key tenders linked to the implementation of the Phase I of the Oman National Railway Project.

Two sets of tenders were floated recently. The first tender invites competent international firms

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Iraq to launch third bid round for gas fields

AFP reported that Iraq plans to launch 3rd bid round to develop 3 non associated natural gas fields.

Mr Abdelmahdi Al Amidi DG of the oil ministry’s petroleum contracting and licensing directorate said that we have decided last week to launch a third round, this time for gas. We are

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Iran to establish private oil bank

Mehr News Agency cited Mr Seyyed Masoud Mirkazemi oil minister of Iran as saying that a privately owned bank with a minimum capital of USD 200 million will soon be opened to fund the oil industry projects.

Mr Mirkazemi said that the bank would accentuate the role of the private sector in

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Abu Dhabi Ship Building approves USD 6 million cash dividends

Abu Dhabi Ship Building has announced plans to distribute cash dividends of AED 21.2 million to its shareholders next month.

The ADSB, which 40% owned by leading business development and Investment Company Mubadala had achieved a net profit of AED 114.39 million on revenues of over AED 1.16

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Middle East fuel oil prices ease on rising supply

Gulf News reported that Middle East fuel oil prices eased last week as the regional supply situation improved with fresh inflows from Saudi Arabia.

Traders said that Benchmark prices were pegged at around USD 1 per tonne to USD 2 per tonne down more than USD 6 from levels seen at the end of

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Qatar invites Gazprom to take part in LNG projects

RIA Novosti reported that Qatar has invited Russia's Gazprom to take part in projects to extract and produce liquefied natural gas after a moratorium is lifted on developing its North Field deposits.
The majority of Qatar's vast natural gas is concentrated in the massive offshore North

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Egypt to reissue cement licenses to 2 firms

Reuters reported that Egypt is set to reissue production licenses to 2 cement firms that had their permits scrapped, in a move that could help meet demand in a buoyant construction sector which has defied a regional downturn.

As per report, El Wadi Cement and North Sinai Cement had their

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Turkish wire rod exports down by 12pct in March

According to the statistics released by the Istanbul Mineral and Metals Exporters' Association, in March this year Turkey's total wire rod exports amounted to 75,168 tonnes decreasing by 12.02% YoY and down 39.11% over February. Meanwhile, the revenue generated by these exports totaled

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STX Heavy negotiating contracts of Basra steel mill in Iraq

MEED reported that the South Korean contractor STX Heavy industries is still in negotiations over the USD 3 billion engineering, procurement and construction contract for the 3 million tonne per year Basra steel mill project with Iraq's Industry and Minerals Ministry.

The source said that

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Reliance provides growth capital to Deccan 360 as a strategic investor

Reliance announced their investment in Deccan 360, India’s new delivery and distribution network, an initiative which will provide a remarkable boost in transforming the logistics spectrum in India. This investment will help Deccan 360 to increase the air and surface network coverage

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Indian steel price index reman stable on Apr 16

The Indian Long Product Price Index ILPPI went up by 3 points whereas Indian Flat Product Price Index IFPPI also down by 6 points. The overall Indian Steel Price Index INDSPI down by 1 point



Class 15-Apr 16-Apr Change %

ILPPI 7752 7755 3 0.0%

IFPPI 8602 8596 -6 -0.1%

INDSPI 8157 8156 -1 0.0%


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

Long Products


Category 15-Apr 16-Apr Change %

PI - TMT 7597 7593 -4 0.0%

PI - WRC 8195 8212 18 0.2%

PI - Angle 7324 7308 -17 -0.2%

PI - Channel 7447 7430 -17 -0.2%

PI - Joist 6856 6843 -13 -0.2%


PI - Product Index

Flat Products


Category 15-Apr 16-Apr Change %

PI - Narrow Plates 8182 8182 0 0.0%

PI - Wide Plates 8500 8493 -6 -0.1%

PI - Hot Rolled 8386 8375 -12 -0.1%

PI - Cold Rolled 9245 9245 0 0.0%

PI - Galvanized 9230 9246 16 0.2%


PI - Product Index

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Steel pencil ingot price movement in major places on Apr 16

Pencil ingot


Location Change

Ahmedabad 100

Bhiwari 0

Durgapur -363

Ghaziabad 0

Hyderabad 0

Jaipur -100

Jamshedpur -300

Kanpur -523

Kolkata 0

Mandi -363

Mumbai 0

Muzzafarnagar -174

Nagpur -363

Raigarh 0

Raipur 0

Rourkela -91

Rudrapur -436


Change is on 16th April as compared to 15th April 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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Demand slowdown may weaken cement stocks

The profitability of cement companies may come under pressure with the stabilization of recently added new capacities coupled with expected tapering of demand due to completion of infrastructure projects including that of Commonwealth Games.

Cement dispatches grew by 9% excluding ACC and

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Greatship subsidiary delivers Greatship Rekha

Greatship Global Offshore Services Pte Ltd a Singapore incorporated subsidiary of Greatship (India) Ltd a wholly owned subsidiary of The Great Eastern Shipping Co Ltd has taken delivery of GREATSHIP REKHA a Platform/ROV Support Vessel, from Colombo Dockyard PLC, Sri Lanka and simultaneously

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Steel melting scrap price decreases in Kanpur

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla 0

Kanpur -349

Kolkata 0

Mandi -91

Mumbai 0

Rudrapur -262


Change is on 16th April as compared to 15th April 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 rebar (TMT QST) price movement in India on Apr 16

TMT
Fe 415
12mm


Location Change

Ahmedabad 0

Bangalore 300

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur -200

Kolkata 0

Mandi -312

Mumbai 0

Raipur 0

Rudrapur -400


Change is on 16th April as compared to 15th April 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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Holcim misses Indian growth opportunity in 2009-10

BS reported that Swiss cement giant Holcim seems to have missed a good high growth opportunity in 2009-10.

India was one of the very few global markets where demand growth for the building material remained in double digits. Holcim which operates in the country through ACC and Ambuja

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Nissan plans to boost presence in Indian car market

It is reported that Nissan Motor Co’s planned USD 3,000 car for the Indian market will increase the company’s profitability, as it takes advantage of its local partner’s low cost production techniques.

Mr Gilles Normand vice president in charge of Africa, West Asia and

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MRPL to double crude off take from Cairn fields

It is reported that Mangalore Refinery and Petrochemicals Ltd will double off take of crude oil from Cairn India’s Rajasthan fields to 0.4 million tonnes this fiscal.

Mr LK Gupta director (Finance) of MRPL said that “We bought 0.2 million tonnes of Rajasthan crude in 2009-10.

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Pipavav Shipyard in talks to buy European oil rig and shipping companies

It is reported that Pipavav Shipyard is in talks to buy an oil rig and shipping company in West Europe.

Mr Nikhil Gandhi chairman of Pipavav Shipyard told PTI that "We are in talks with a West European company to buy an oil rig and shipping company in a bid to enter into the oil and gas

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GMR Infra begins QIP to raise USD 250 million

GMR Infrastructure began the sale of shares to overseas institutional buyers to raise up to USD 250 million. The shares would be sold to qualified institutional buyers and the company aims to mop up USD 250 million through the placement.

According to market sources, the floor price of the

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Outcome of ministerial task force meeting on hydro power

It is reported that the meeting of the Task Force for Hydro Power Development was held on April 13th 2010 under the Chairmanship of Minister of Power. The Task Force on Hydro Development was constituted by the Ministry of Power on September 3rd 2007 to examine and resolve all issues relating

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JV with Atlas Energy will help RIL expand and diversify - Moody

Ratings agency Moody's said that the move by Reliance Industries to set up a joint venture with the US based Atlas Energy will help it expand geographically and diversify into unconventional energy sources in the North American market.

Moody’s affirming Baa2 ratings said that

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Steel pencil ingot price movement in major places on Apr 15

Pencil ingot
Location Change
Ahmedabad 0
Bhiwari 0
Durgapur 181
Ghaziabad 0
Hyderabad -1500
Jaipur 0
Jamshedpur 100
Kanpur 0
Kolkata 0
Mandi 181
Mumbai -100
Muzzafarnagar 0
Nagpur 453
Raigarh -453
Raipur 91
Rourkela 0
Rudrapur 0
Change is on 15th April as compared to 14th

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