June 2010 ~ Steel Guru

Wednesday, June 30, 2010

Eredene consortium to build Ennore container terminal

11:16 PM Unknown No comments

It is reported that Eredene Capital PLC has won a bid in a consortium to build and operate the Container Terminal at Ennore Port. The estimated project cost of the Ennore Container Terminal is GBP 207 million.

Eredene bid for the project in a consortium headed by Spain's port operator,

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Mundra becomes 1st private port to get rail over bridge

11:15 PM Unknown No comments

It is reported that a four lane 1.5 kilometer dedicated rail over bridge constructed at a cost of INR 50 crore by the Adanis at Mundra, was inaugurated on June 27.This is the first private over bridge within a port area in India, capable of withstanding loads of up to 100 tonnes.

With the

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Alstom Projects bags INR 458 crore order from BHEL

11:14 PM Unknown No comments

Alstom Projects India a subsidiary of France based Alstom SA has bagged an order worth INR 458 crore from Bharat Heavy Electricals Ltd in Karnataka.

The order is for supply of boiler

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TATA Power to raise USD 300 million through coal SPVs

11:14 PM Unknown No comments

India’s leading wind energy producer TATA Power said that it has agreed to raise USD 300 million through two of its coal special purpose vehicles to fund acquisitions and cut debt.

TATA Power in a statement said that the company will raise the funds in the Bhira Investments Ltd and

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Rebar TMT QST prices down in Kanpur Rudrapur and Mandi

11:13 PM Unknown 2 comments

TMT
Fe 415
12mm
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur -200

Kolkata 0

Mandi -104

Mumbai 115

Raipur 0

Rudrapur -200

Muzzafarnagar 0

Change is on 30th June as compared to 29th June 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Consolidated Construction bags two orders from Chennai Metro

11:13 PM Unknown No comments

It is reported that Chennai based Consolidated Construction Consortium has bagged two orders worth INR 180 crore from Chennai Metro Rail for constructing 10 elevated stations for Chennai Metro Rail project.

The first order worth INR 139.54 crore is for the design and construction of five

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GP steel HDG price crashes in Mumbai on June 30

11:13 PM Unknown No comments

GP
100Gms
0.40
Location Change

Mumbai -1090

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 181

Kanpur 0

Rudrapur 0

Bangalore 0

Change is on 30th June as compared to 29th June 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Mahindra appeals against lawsuit by US distributor Global Vehicles

11:12 PM Unknown No comments

Automobile maker Mahindra & Mahindra has filed an appeal against the lawsuit by its US based distributor Global Vehicles for delaying the launch of its pick-up trucks in the American market.

A Mahindra & Mahindra spokesperson confirmed the development saying the company has filed an appeal

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Gujarat government framing logistics policy

11:12 PM Unknown No comments

In what could be a first for India, the Gujarat government is working on a logistics policy, inclusive of ports, roads, railways and air systems.

Mr AK Sharma secretary to the chief minister and CEO of Gujarat Infrastructure Development Board on the sidelines of a seminar on ports said that

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Larsen and Toubro bags INR 1383 crore orders

11:12 PM Unknown No comments

The Electrical & Gulf Projects Operating Company a part of Larsen & Toubro’s Construction Division has secured a slew of orders aggregating INR1015 crore from Transmission & Distribution Projects in the international and domestic markets.

L&T’s Metallurgical, Material Handling &

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Indian Railways plans wagon unit at SAIL land at Kulti

11:11 PM Unknown No comments

It is reported that the Indian Railways is planning to set up a wagon manufacturing unit at Kulti in Burnpur for which the Steel Authority of India Ltd will provide land.

Ms Mamata Banerjee railway minister said that “The railway ministry has taken a decision to set up a wagon unit in

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Sponge iron makers urge protection on iron ore prices

11:11 PM Unknown No comments

BL reported that sponge iron producers have appealed to the union government for protection against the impact of volatility in iron ore prices. They want the government to ensure that there is no further increase in iron ore prices.

A delegation is to meet the steel minister and the

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Rays of recovery - Indian auto export may grow 15pct this fiscal

11:34 PM Unknown No comments

The government said the country’s total vehicle export is likely to increase by up to 15% in the current fiscal, as demand from Europe is expected to rise.

According to Mr Ambuj Sharma joint secretary in the department of heavy industry, we may see a 10% to 15% increase in auto

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PGCIL to invest INR 58000 crore on transmission network

11:33 PM Unknown No comments

Central transmission utility Power Grid Corporation of India Limited would invest INR 58,000 crore for setting up network to facilitate evacuation of electricity from power surplus states to others.

The company would execute nine high capacity transmission corridors, which would transfer

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Rebar TMT QST price rebounds on June 28

11:33 PM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad 300

Bangalore 1200

Chennai 1040

Delhi 606

Hyderabad 0

Indore 400

Kanpur 300

Kolkata 0

Mandi 312

Mumbai 344

Raipur 520

Rudrapur 400

Muzaffarnagar 200

Change is on 28th June as compared to 25th June 2010
Change is in INR per tonne

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Pencil ingot prices post recovery in major places on June 28

11:32 PM Unknown No comments

Pencil ingot
Location Change

Ahmedabad 200

Bhiwari 300

Durgapur 0

Ghaziabad 200

Hyderabad 0

Jaipur 200

Jamshedpur 100

Kanpur 262

Kolkata 91

Mandi 272

Mumbai 300

Muzzafarnagar 262

Nagpur 91

Raigarh -181

Raipur 272

Rourkela 272

Rudrapur 349

Change is on 28th June as compared to 25th June 2010
Change is in INR per tonne

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Sponge iron prices up on June 28

11:32 PM Unknown No comments

Sponge iron
Location Change

Bellary 600

Kolkata 400

Raigarh 200

Raipur 200

Rourkela 200

Change is on 28th June as compared to 25th June 2010
Change is in INR per tonne

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Indian long product price index reflects reversal for longs

11:32 PM Unknown No comments

The Indian Long Product Price Index ILPPI went up by 68 points on June 28th 2010 whereas Indian Flat Product Price Index IFPPI went down by 31 points. The overall Indian Steel Price Index INDSPI went up by 21 points
Class 25-Jun 28-Jun Change %

ILPPI 6760 6828 68 1.0%

IFPPI 7843 7812 -31 -0.4%

INDSPI 7276 7297 21 0.3%

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

Long Products
Category 25-Jun 28-Jun Change %

PI - TMT 6582 6683 102 1.5%

PI - WRC 7152 7211 59 0.8%

PI - Angle 6465 6490 25 0.4%

PI - Channel 6544 6558 14 0.2%

PI - Joist 6057 6084 27 0.4%

PI - Product Index

Flat Products
Category 25-Jun 28-Jun Change %

PI - Narrow Plates 7338 7330 -9 -0.1%

PI - Wide Plates 7811 7786 -25 -0.3%

PI - Hot Rolled 7596 7569 -27 -0.4%

PI - Cold Rolled 8655 8596 -59 -0.7%

PI - Galvanized 8332 8294 -38 -0.5%

PI - Product Index

To know more about these indices please visit
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PGCIL to invest INR 58000 crore on transmission network

11:11 PM Unknown No comments

Mr Bishnoi CMD of RINL VSP conferred Udyog Ratan award

11:11 PM Unknown No comments

The Governor of Jharkhand Mr MOH Farook conferred the ‘Udyog Ratan Award’ on Mr PK Bishnoi, CMD of RINL for his outstanding contribution in making the Visakhapatnam Steel Plant ‘turn around to a blue chip company’ and for creating the instrumentality, i.e. the

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Macroeconomic indicators - Indian index of core industries up by 5pct

11:10 PM Unknown No comments

The Index of Six core industries having a combined weight of 26.7% in the Index of Industrial Production with base 1993-94 stood at 266.9 provisional in May 2010 and registered a growth of 5.0% provisional as compared to 3.2% registered in May 2009. During April to May 2010-11, six core

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8 injured in clash with police at the gate of TATA Steel Jamshedpur

11:10 PM Unknown No comments

It is reported that8 laborers were injured in a clash with the police at the main entrance of the TATA Steel plant at Jamshedpur.

According to a company official, the clash occurred after the security guards of the steel plant sought gate pass from a group of laborers.

According to a

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BSL gets shareholders approval to raise USD 500 million

11:10 PM Unknown No comments

Bhushan Steel Limited announced that it has got shareholders' nod to raise up to USD 500 million through the issue of securities.

In a filing to the Bombay Stock Exchange, the firm said it members have approved the fund-raising proposal through a postal ballet.

The company may raise

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Essar Steel acquires UK steel processor Servosteel

11:09 PM Unknown No comments

Essar Steel International BV a subsidiary of Essar Steel Holdings Limited announced that it has acquired Servosteel the largest independent steel processor in the UK.

Highlights
1. Essar Steel makes maiden acquisition in UK with Servosteel
2. Servosteel is the largest independent steel

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May crude steel output result for Africa

11:13 PM Unknown No comments

Country May '10 May '09 Change

Algeria 45 28 59.1%

Egypt 553 453 21.9%

Libya 75 64 -11.2%

Morocco 58 40 43.4%

South Africa 715 580 23.2%

Zimbabwe 0 0 0.0%

Africa 1,446 1,187 21.8%

In '000 tonnes

(Sourced from www.worldsteel.org)

Czech Coal Group donates millions to Clever Heads for the North

11:13 PM Unknown No comments

Czech Coal Group has evaluated the Chytré hlavy pro Sever grant scheme, which focuses on support for education in the region and was launched for secondary and tertiary education institutions in the Most area in March 2010.

Twenty five schools in the Most area have entered some 30 projects, valued a total of CZK 20 million. The Czech Coal Group’s representatives short listed 15 projects for the semi finals. Public voting helped to select one of the projects to be supported. Thanks to the largest number of votes out of a total of 2,585 votes, this support will be given to the Instruction is Fun in Modern Classrooms project entered by Vyšší odborná škola, Obchodní akademie, SPgŠ and SZŠ in Most. The project is intended to help modernise two classrooms for nursing, first aid laboratory and somatology.

Further, the Czech Coal Group has decided to support, through Vršanská uhelná as, the project of Podkrušnohorské gymnázium in Most titled Modernisation of the Chemical Laboratory Area and the Most facility of VŠB Technical University of Ostrava with its Creation of Multimedia project.

The Czech Coal Group is convinced that support for educational projects is needed because of the low level of education in the Ústecký Region. Last year its sponsorship focused more strongly on this area as part of Program Spolužití to which the Chytré hlavy pro Sever scheme is linked.

Bucyrus International fears loss of Reliance Power order

11:12 PM Unknown No comments

Bucyrus International Inc said it may lose a USD 310 million order for mining machinery from a subsidiary of Reliance Power Ltd of India because of a decision by the US Export Import Bank against providing loan guarantees for the project.

Mr Tim Sullivan CEO in an interview said that

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Truck rentals set to up by 5pct

11:12 PM Unknown No comments

It is reported that road freight rates will go up by nearly 5% with immediate effect following the INR 2 a litre hike in diesel prices.

Mr SP Singh co ordinator of Indian Foundation of Transport Research and Training said that “An immediate impact is bound to be there.”

As a

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Mr Noel Tata likely to succeed Mr Ratan Tata - Report

11:12 PM Unknown No comments

ET reported that the TATA group may have moved a step closer toward finalizing an imminent successor to current overall chairman Mr Ratan Tata by announcing the appointment of Mr Noel Tata as non executive chairman of TATA Investment Corp.

TATA Investment Corp approved the appointment of Mr

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Downsizing deals - Metso to start negotiations in Jyvaskyla

11:11 PM Unknown No comments

Metso Foundries Jyväskylä, Inc will begin personnel negotiations on temporary lay offs and personnel reductions at Jyväskylä in Finland. The measures will affect the entire personnel, a total of about 240 employees in all personnel groups. The maximum personnel reduction need is estimated to be 110 person-workyears.

The negotiations will be concluded in August 2010 and the effects on the personnel are estimated to be realized by March 2011. The lay off and reduction needs are related to the goal of agreeing on ways to adjust to the weakened global market situation for deliveries mainly outside Metso. To ensure profitable business in the future, capacity must be aligned with market demand.

Metso Foundries Jyväskylä produces hand-molded castings for Metso and outside customers.

Kangaroo Resources completes due diligence on Kubah Indah coking coal project

11:11 PM Unknown No comments

It is reported that the successful completion of due diligence will see Kangaroo Resources complete acquisition of its five outstanding Indonesian coal projects including the high quality Kubah Indah Coking Coal Project.

Kangaroo announced the acquisition of the projects in November 2009 significantly expanding its existing coal portfolio in East Kalimantan. Completion of due diligence clears the way for drilling to begin at Kubah Indah where the company has an exploration target ranging from 100 million tonnes to 140 million tonnes of coking coal.

This drilling program will be conducted in parallel with the ongoing ramp-up of production at Kangaroo other Indonesian operations. The completion of due diligence on the Kubah Indah, Jawana, Borami, MBK and BP coal projects marks another milestone in Kangaroo growth path to become a significant Indonesian coal producer.

It recently secured an initial export sales contract with a large Chinese energy company, Guandong Yudean Farnon Investment, which involves the provision of three trial shipments containing a total of 150,000 tonnes of coal over a two-month period. Upon successful completion of these shipments, Kangaroo expects to extend this agreement to cover additional tonnages. Kubah Indah forms a significant component of Kangaroo’s production growth strategy in Indonesia with extensive historical drilling supporting the potential to delineate a significant coking coal resource.

The company is confident it can delineate a JORC-compliant resource for the project during 2010, providing a foundation to convert this to JORC-compliant reserve status. It has received an exploration licence for the first three concessions relating to Kubah Indah which will be considered the first phase of the overall project. This allows Kangaroo to begin a drilling program with the aim of delineating an initial JORC-compliant resource estimate during the next 3 to 6 months.

(Sourced from The Asia Miner)

POSCO war zone - Project remains grounded on betel fight

11:10 PM Unknown No comments

PTI reported that it is now the betel leaf farmers of a cluster of villages around Paradip in Orissa who now stand in the way of the Indian footprint of a global steel behemoth.

Mr Abhay Sahu president of POSCO Pratirodh Sangram Samiti said that “The villagers earn their living by

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Larsen and Toubro to restructure Mitsubishi JV to re bid for NTPC contract

11:10 PM Unknown No comments

It is reported that Engineering and construction major Larsen & Toubro plans to restructure its JV with Japan's Mitsubishi Heavy Industries as it prepares to re bid for the NTPC contract for bulk supply of supercritical boilers worth about INR 9,000 crore to 11,000 crore in which they were

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New technology for utilizing iron ore dust from IMMT

11:10 PM Unknown No comments

Mountains of leftover dusts lying alongside the iron ore mines being operated in Keonjhar and Sundargarh districts will no more be treated as a waste, but those are now wealth. Thanks to technological intervention of the Institute of Minerals and Materials Technology Bhubaneswar, industries

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Input cost hike and price fall to impact Indian steel makers Q1 profit

11:09 PM Unknown No comments

Steel companies profits in the Q1 of this fiscal may be hit by the steep rise in input cost coupled with a sharp fall in product prices, which has resulted from a slowdown in demand and large scale imports.

Report said that most steel companies have signed contracts to import coking coal at

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Monday Market Monitor - India - WEEK 25 - Troubles intensify

11:09 PM Unknown No comments

Indian steel market for both long and flat products has been undergoing a phase of absolute inactivity and abysmal prices for the past couple of months and the trend continued last week as well.

The long product market in India is reeling under constant price pressure due to a very severe

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Steel plate cuttings price dips again at Alang

12:11 AM Unknown No comments

Product Grade Size Change

Plate cuttings Rolling 1" -200

Ship Scrap Melting Mixed 0

Change is on 25th June as compared to 24th June 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Mahalaxmi Group outlines expansion plans

12:09 AM Unknown No comments

BL reported that the Mahalaxmi Group the manufacturer of steel and TMT bars in eastern region has initiated several steps to strengthen its position in the market.

According to a company release, first, the group proposes to set up two net manufacturing facilities in West Bengal at an

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Steel melting scrap price update on June 25

12:09 AM Unknown No comments

Melting scrap
80:20
HMS
Location Change

Chennai 0

Hyderabad 0

Kandla 200

Kanpur 0

Kolkata 0

Mandi 181

Mumbai 0

Rudrapur 0

Change is on 25th June as compared to 24th June 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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(Sourced from www.steelprices-india.com)

GP steel HDG price down in Ludhiana

12:08 AM Unknown No comments

GP
100Gms
0.40
Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana -181

Kanpur 0

Rudrapur 0

Bangalore 0

Change is on 25th June as compared to 24th June 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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GC steel HDG price dips in Ludhiana

12:08 AM Unknown No comments

GC
100Gms
0.40
Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana -272

Mumbai 0

Rudrapur 0

Change is on 25th June as compared to 24th June 2010
Change is in INR per tonne

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Tehri Hydro inks MoU with Bhutan energy department

12:08 AM Unknown No comments

Tehri Hydro Development Corporation India Ltd has signed a MoU with Department of Energy, Royal Government of Bhutan for updation of Detailed Project Report of 180 MW Bunakha Hydro Electric Project in Bhutan.

The MoU was signed by Mr RST Sai CMD of THDC India Limited and Mr Yeshi Wangdi

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Report on TATA Steel move for renewal of iron ore mines in Orissa

12:07 AM Unknown No comments

BL reported that according to the report of committee that studied applications submitted by TATA Steel for renewal of mines, tabled in the Orissa assembly recently, the company possesses four iron ore reserves in Keonjhar district having total reserve of 638 million tonnes, of which 446

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Will Chinese rebate removal ignite price revival in India

12:07 AM Unknown No comments

Indian flat steel market has been undergoing a phase of absolute inactivity and abysmal prices for the past couple of months. The happenings are in sync with the global price trends. Indian mills unlike their counterparts in other regions of the globe have been reluctant to reconcile with the

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Clayton wins gasholders construction order from TATA Steel

12:06 AM Unknown No comments

It is reported that Clayton Walker Gasholders, the Wakefield based subsidiary of Scottish firm Motherwell Bridge, has secured contracts with TATA Steel to oversee the construction of two gasholders in India.

Clayton Walker specializes in the design and on site construction of gasholder

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How will China tax rebate levy impact Indian steel companies

12:06 AM Unknown No comments

China's ministry of finance has eliminated the value added tax rebate on certain export steel products. It has withdrawn the 9% and 13% export rebate on HRC steel and cold rolled coils with effect July 15. Primarily, the rebate has been withdrawn on flat products and long products.

The

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Indian steel price index remain stable on June 24

11:22 PM Unknown No comments

The Indian Long Product Price Index ILPPI went up by 3 points whereas Indian Flat Product Price Index IFPPI remained unchanged. The overall Indian Steel Price Index INDSPI went up by 2 points

Class 23-Jun 24-Jun Change %

ILPPI 6753 6756 3 0.0%

IFPPI 7843 7843 0 0.0%

INDSPI 7272 7274 2 0.0%

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

Long Products
Category 23-Jun 24-Jun Change %

PI - TMT 6567 6574 8 0.1%

PI - WRC 7152 7152 0 0.0%

PI - Angle 6452 6452 0 0.0%

PI - Channel 6538 6538 0 0.0%

PI - Joist 6056 6054 -2 0.0%

PI - Product Index

Flat Products
Category 23-Jun 24-Jun Change %

PI - Narrow Plates 7338 7338 0 0.0%

PI - Wide Plates 7811 7811 0 0.0%

PI - Hot Rolled 7596 7596 0 0.0%

PI - Cold Rolled 8655 8655 0 0.0%

PI - Galvanized 8332 8332 0 0.0%

PI - Product Index

To know more about these indices please visit
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Pencil ingot price movement in major places on June 24

11:21 PM Unknown 1 comment

Pencil ingot
Location Change

Ahmedabad -200

Bhiwari 0

Durgapur 91

Ghaziabad 100

Hyderabad 0

Jaipur 0

Jamshedpur -100

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Muzzafarnagar 0

Nagpur 0

Raigarh 0

Raipur 0

Rourkela 0

Rudrapur 0

Change is on 24th June as compared to 23rd June 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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Indian government may divest 10 pct stake in SCI

11:21 PM Unknown No comments

According to Mr S Hajara CMD of Shipping Corporation of India, the government may divest up to 10% of its stake in Shipping Corporation of India.

Mr Hajara said that "The government has included SCI for disinvestment in this fiscal. It is likely to happen. Disinvestment could be up to

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No privatization of Indian Railways - Ms Mamata Banerjee

11:21 PM Unknown No comments

Ms Mamata Banerjee minister of railways has reiterated that there will be no privatization of Indian Railways. The minister gave this assurance to the nation while addressing the Consultative Committee of Members of Parliament for the Ministry of Railways.

Speaking on the subject of Public

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SAIL to float coal mine tender for Tasra coal block

11:20 PM Unknown No comments

For the third time in the last one and half years, Steel Authority of India Ltd will invite tenders for the development and operation of a 4 million tonne open cast coking coal mine, together with a pit head coal beneficiation plant at the Tasra coal block in Jharkhand. The tender will be open

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Rebar TMT QST prices remain flat on June 24

11:20 PM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad 0

Bangalore 300

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0

Muzzafarnagar 0

Change is on 24th June as compared to 23rd June 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

GP steel HDG price down in Ludhiana

11:20 PM Unknown No comments

GP
100Gms
0.40
Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana -181

Kanpur 0

Rudrapur 0

Bangalore 0

Change is on 24th June as compared to 23rd June 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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Pig iron prices down in most places on June 24

11:19 PM Unknown No comments

Pig iron
Foundry Grade
Location Change

Agra -181

Jallandhar -181

Kolkata -91

Raipur 0

Change is on 24th June as compared to 23rd June 2010
Change is in INR per tonne

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Steel plate cuttings price remain flat at Alang

11:19 PM Unknown No comments

Product Grade Size Change

Plate cuttings Rolling 1" 0

Ship Scrap Melting Mixed 100

Change is on 24th June as compared to 23rd June 2010
Change is in INR per tonne

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Patra Narrow HR steel strips price

11:18 PM Unknown No comments

Patra
Location Change

Delhi 0

Ludhiana 91

Mandi 0

Change is on 24th June as compared to 23rd June 2010
Change is in INR per tonne

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CASE group to build a steel plant in Wardha

11:18 PM Unknown No comments

It is reported that Faridabad based CASE group is setting up first of its kind direct reduced iron based plant in Wardha in Maharashtra.

The CASE group is introducing the Chinese technology based on static Kiln Birquetted Iron Technology at the Mahalakhsmi TMT Bars Limited at Wardha that

More Info

BHEL in technology transfer pact with Sheffield Forgemasters

11:18 PM Unknown No comments

It is reported that Bharat Heavy Electricals has signed a technology transfer agreement for manufacture of large size Forgings for Turbines and Generators up to 1,000 MW rating with Sheffield Forgemasters International of UK.

The 10 year partnership to develop power generation forgings in

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SAIL RSP bags OHSAS certificate

11:18 PM Unknown No comments

Steel Authority of India Limited’s Rourkela Steel Plant has bagged the OHSAS 18001-2007 certificate for occupational health and safety standards.

Occupational Health and Safety Assessment Series certification deals with occupational health and safety conditions and factors that affect

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Indian import of Chinese steel surges in 5 months of 2010

11:17 PM Unknown No comments

It is reported that China steel product export to India during January to May totalled 1.877 million tonnes accounting for 10.5% of total Chinese exports.

This makes India as the second most favorite destination, after South Korea, for Chinese steel mills.

The exports during May alone

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Orissa Wildlife Society accuses TATA Refractories for poisonous discharge

11:16 PM Unknown No comments

Wildlife Society of Orissa an environmental pressure group alleged that the Orissa government had let off TATA Group, the company of which was reportedly found to have released poisonous chemicals outside their factory premises in Jharsuguda district.

Mr Biswajit Mohanty WSO secretary who

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Gammon Infra enters thermal power generation business

11:50 PM Unknown No comments

Gammon Infrastructure Projects Ltd is entering the thermal power generation business for which it has signed an agreement to acquire a company that is setting up a 250 MW power plant.

Gammon Infrastructure informed the stock exchanges that it recently entered into a memorandum of agreement

More Info

RIL may bid for UMPPs in Chhattisgarh and Orissa

11:49 PM Unknown No comments

Mr Mukesh Ambani led Reliance Industries is looking to enter thermal power projects and may bid for the ultra mega power projects in Chhattisgarh and Orissa.

A source close to the development said that "The company is likely to bid for the two UMPPs for which the government has issued

More Info

GP steel HDG price movement on June 23

11:49 PM Unknown No comments

GP
100Gms
0.40
Location Change

Mumbai 0

Chennai -962

Kolkata 0

Delhi 0

Ludhiana -181

Kanpur 0

Rudrapur 0

Bangalore 0

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

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Sponge iron price down in Bellary

11:49 PM Unknown No comments

Sponge iron
Location Change

Bellary -100

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 0

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

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BHEL to strengthen ties with Alstom

11:48 PM Unknown No comments

The issue of increasing co operation to new areas of power and transportation sector were discussed during the meeting held at Paris recently between Mr Vilasrao Deshmukh union minister of heavy industries & public enterprises and Mr Patrick Kron president and CEO of Alstom SA.

Mr Kron

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Jindal Power to represent for its Chhattisgarh project

11:48 PM Unknown No comments

Jindal Power will urge the environment ministry to restore the terms of reference for its 2,400 MW thermal power project in Chhattisgarh.

The company in a statement said that "From the website of ministry of environment and forests we learnt that the environment ministry has revoked TOR

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Pencil ingot price movement in major places on June 23

11:48 PM Unknown No comments

Pencil ingot
Location Change

Ahmedabad 100

Bhiwari 0

Durgapur 0

Ghaziabad 200

Hyderabad 0

Jaipur 300

Jamshedpur 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 100

Muzzafarnagar 87

Nagpur 0

Raigarh 0

Raipur 91

Rourkela 91

Rudrapur 0

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

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CR steel price down in Chennai and Ahmedabad

11:47 PM Unknown No comments

CR
DSK
0.63
Location Change

Ahmedabad -453

Bangalore 0

Chennai -962

Delhi 0

Kanpur 0

Kolkata 0

Mumbai 0

Pune 0

Rudrapur 0

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

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Port and dock labor board plan mass leave on July 5

11:47 PM Unknown No comments

The officers in the major ports and dock labour boards will take mass casual leave on July 5 to press their demand for immediate implementation of the revised pay-scales.

Accordingly, the port level unit of the All India Major Ports & Dock Labour Boards Officers Federation in each port has

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BEML plans INR 680 crore expansion

11:47 PM Unknown No comments

BEML Ltd, the public sector mining & construction, rail & metro and defense equipment make announced plans to invest INR 680 crore in the next two to three years for expansion and diversification.

The investment plan includes second phase construction at Palakkad, where it has set up a new

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Larsen and Toubro disqualified from NTPC tender - Report

11:46 PM Unknown No comments

It is reported that Larsen & Toubro’ as been disqualified on technical grounds in NTPC's tender for 11 sets of supercritical boilers and the consequent re-tendering has invigorated other boiler manufacturers. Most of them see the re tendering as correcting a wrong.

The issue relates

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Elecon Engineering sees 30pct growth in FY 10 - Mr Patel

11:46 PM Unknown No comments

In an interview with CNBC-TV18, Mr Prayasvin Patel CMD of Elecon Engineering, spoke about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with Prayasvin Patel on CNBC-TV18.

Q - We understand that orders are flowing in thick and

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SAIL to step up share of value added products - Mr Verma

11:46 PM Unknown No comments

Mr CS Verma the new chairman of Steel Authority of India Ltd during his maiden visit to Bhilai Steel Plant emphasized the need for stepping up the share of value added products in the company's total production of saleable steel.

He observed that "Right now, it is 37% to 38% which must be

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TATA Steel to sell stake in TATA Refractories - Report

11:45 PM Unknown No comments

ET reported that TATA Steel is scouting for a strategic partner to sell stake in its subsidiary TATA Refractories.

Sources said that TATA Steel has appointed Enam to look for a refractory player to sell up to 50% stake in the company, TATA Refractories in which TATA Steel owns 71.2%

More Info

Sponge iron price up in most places on June 22

11:18 PM Unknown No comments

Sponge iron
Location Change

Bellary 0

Kolkata 200

Raigarh 300

Raipur 300

Rourkela 300

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

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(Sourced from www.steelprices-india.com)

NTPC may form JV with ADB and Kyuden International

11:16 PM Unknown No comments

For state run generation utility NTPC is chasing a green dream by forming a joint venture with the Asian Development Bank and Kyuden International Corporation a wholly owned subsidiary of Japan’s Kyushu Electric Power Company for producing power from renewable sources.

The joint

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POSCO war zone - Orissa rejects BJP CPI demand to scrap project

11:03 PM Unknown No comments

The Orissa Government has rejected the demand to scrap POSCO’s steel project, saying that the INR 51,000 crore project could contribute 11.5% to the state’s gross domestic product in terms of value addition.

Dismissing the demand by the BJP and the CPI to scrap the project and

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HR steel price crashes in Bangalore

11:03 PM Unknown No comments

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore -453

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana 0

Mumbai 0

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

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(Sourced from www.steelprices-india.com)

Pencil ingot price movement in major places on June 22

11:02 PM Unknown No comments

Pencil ingot
Location Change

Ahmedabad 0

Bhiwari 200

Durgapur 0

Ghaziabad 0

Hyderabad 500

Jaipur 100

Jamshedpur 100

Kanpur 0

Kolkata -91

Mandi 91

Mumbai 200

Muzzafarnagar 174

Nagpur 91

Raigarh 0

Raipur 0

Rourkela 91

Rudrapur 0

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

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(Sourced from www.steelprices-india.com)

Kerala Steel Complex rehabilitation plan gets BIFR approval

11:02 PM Unknown No comments

The Board for Industrial and Financial Reconstruction has approved the rehabilitation scheme of the State owned Steel Complex Ltd which paves the way for launching of the proposed joint venture with Steel Authority of India Ltd.

According to official sources, the subsequent steps for

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POSCO war zone - POSCO agitators take out rallies in Paradip

11:02 PM Unknown No comments

Anti POSCO agitators on June 22nd 2010 observed a black day and took out rallies here demanding scrapping of the INR 52,000 crore project.

The POSCO Pratirodh Sangram Samiti brought out separate rallies from Dhinkia, Gobindpur and Nuagaon villages which culminated at a public meeting at

More Info

GP steel HDG price update on June 22

11:02 PM Unknown No comments

GP
100Gms
0.40
Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana -181

Kanpur -436

Rudrapur -436

Bangalore -453

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

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(Sourced from www.steelprices-india.com)

Rebar TMT QST price movement in India

11:01 PM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad -100

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 500

Indore -300

Kanpur 0

Kolkata 0

Mandi 208

Mumbai 229

Raipur 0

Rudrapur 0

Muzzafarnagar 0

Change is on 22nd June as compared to 21st June 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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(Sourced from www.steelprices-india.com)

Government assessing impact of flexible yuan on exchange rates

11:01 PM Unknown No comments

The Reserve Bank of India is in the process of evaluating the impact of China’s move to make its yuan exchange rate more flexible.

Mr Subir Gokarn deputy governor of RBI on the sidelines of an event to reporters that “It is way too early to judge the concrete impact on exchange

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JSW and Reddy brothers deal hinges on iron ore - Report

11:00 PM Unknown No comments

ET reported that JSW Steel has demanded a stake in Obulapuram Mining Company or a definite deal to supply iron ore as talks with Karnataka’s Reddy brothers for taking over their steel company reach a crucial stage.

Top officials close to the negotiations told ET that the demand was

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POSCO war zone - PPSS observes Black Day

11:00 PM Unknown No comments

On Orissa governments move to renew the MoU with POSCO for its mega steel plant, POSCO Pratirodha Sangram Samiti and the Left parties threatened to continue their stir till the project is scrapped.

The anti POSCO activists observed ‘Black Day’ at Patana village under Dhinkia

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POSCO war zone - Orissa to renew POSCO MoU

11:00 PM Unknown No comments

The Orissa government has set the ball rolling for the renewal of the MoU with POSCO India for its 12 million tonne per annum steel plant, putting to rest all speculation on the future of the INR 54,000 crore project, billed as the country's single largest FDI.

It may be noted that POSCO

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SAIL BSP sees 10pct growth in hot metal output

10:59 PM Unknown No comments

Steel Authority of India Limited’s Bhilai Steel Plant hopes to post 10% growth in hot metal production in the first quarter of the current fiscal over the previous best Q1 production of 1.27 million tonnes in the first quarter of 2009.

The growth of crude steel production during the

More Info

Steel melting scrap prices down in Mumbai Kandla and Mandi

10:18 PM Unknown No comments

Melting scrap
80:20
HMS
Location Change

Chennai 0

Hyderabad 0

Kandla -200

Kanpur 0

Kolkata 91

Mandi -272

Mumbai -300

Rudrapur 0

Change is on 21st June as compared to 18th June 2010
Change is in INR per tonne

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(Sourced from www.steelprices-india.com)

Rebar TMT QST price movement in India on June 21

10:18 PM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad -100

Bangalore -300

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 0

Mandi -1394

Mumbai -115

Raipur 0

Rudrapur 0

Muzzafarnagar 0

Change is on 21st June as compared to 18th June 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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(Sourced from www.steelprices-india.com)

JSW Steel opens forth showroom at Hyderabad

10:17 PM Unknown No comments

JSW Steel has opened its fourth JSW Shoppe outlet in the southern state of Andhra Pradesh, in Hyderabad city. JSW’s authorized dealer for this branded showroom are MR Steel Corporation.

JSW Shoppe is an exclusive retail steel outlet which has on display and sale, all the

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POSCO war zone - Pro POSCO body raises land price

10:17 PM Unknown No comments

The United Action Committee which supports POSCO's proposed mega steel project in Orissa's Jagatsinghpur district, has demanded higher prices for parting with land during talks with Mr Naveen Patnaik chief minister of Orissa.

While the South Korean steel major in its earlier

More Info

Pencil ingot price movement in major places on June 21

10:17 PM Unknown No comments

Pencil ingot
Location Change

Ahmedabad 0

Bhiwari 0

Durgapur 91

Ghaziabad 0

Hyderabad 0

Jaipur -100

Jamshedpur -100

Kanpur 0

Kolkata 181

Mandi -272

Mumbai -100

Muzzafarnagar -349

Nagpur -91

Raigarh 0

Raipur -91

Rourkela 0

Rudrapur 0

Change is on 21st June as compared to 18th June 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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(Sourced from www.steelprices-india.com)

HR steel prices go down further on June 21

10:16 PM Unknown No comments

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore -453

Chennai 0

Delhi -447

Indore 0

Kolkata -272

Ludhiana 0

Mumbai 0

Change is on 21st June as compared to 18th June 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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(Sourced from www.steelprices-india.com)

GP steel HDG price dips in Mumbai and Bangalore

10:16 PM Unknown No comments

GP
100Gms
0.40
Location Change

Mumbai -436

Chennai 0

Kolkata 0

Delhi 0

Ludhiana -181

Kanpur 0

Rudrapur 0

Bangalore -907

Change is on 21st June as compared to 18th June 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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(Sourced from www.steelprices-india.com)

Steel joist I Beam prices crashes in Mandi

10:16 PM Unknown No comments

JSTI
GR A
250X125
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi -1248

Mumbai -115

Raipur 0

Rudrapur 0

Change is on 21st June as compared to 18th June 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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(Sourced from www.steelprices-india.com)

Next wave of Finnish companies on way to India

10:16 PM Unknown No comments

More than 90 small and medium companies from Finland, employing about 300,000 people, have set up shop in India and another big wave from the Nordic nation is on the way.

Mr Keijo Norvanto economic counsellor at the Finnish embassy in India said that "In 2002, there were just 30 Finnish

More Info

SAIL RSP exports steel plates to Dubai

10:15 PM Unknown No comments

It is reported that Rourkela Steel Plant has exported a consignment of 2,700 tonne of plate mill plates to Dubai against an order placed by Stemeor MESADMCC of Dubai.

The consignment comprises two grades of plates viz BSEN 10025 275JR plus ASTMA36 will be shipped to Dubai through Vizag

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Karnataka iron ore to last 60 years - Industries minister

10:15 PM Unknown No comments

While the massive steel and mining investment proposals at the Global Investor's Meet would double the state's iron ore consumption, Mr Murugesh Nirani Karnataka large and medium scale industries minister is confident that the state's iron ore deposits will last another 60 years.

Mr

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TATA Steel expansion plans at Jamshedpur get environment ministry nod

10:15 PM Unknown No comments

TATA Steel said that its INR 15,000 crore expansion plan of the Jamshedpur facility has received clearance from the Environment Ministry.

The Ministry in a communication to the steel major said that "The Ministry of Environment and Forests hereby accords environmental clearance to the

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Indian steel price index down further by 27 points

10:14 PM Unknown No comments

The Indian Long Product Price Index ILPPI went down by 21 points on June 21st 2010 whereas Indian Flat Product Price Index IFPPI went down by 35 points. The overall Indian Steel Price Index INDSPI went down by 27 points

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SCI to acquire 60 ships by 2015

10:14 PM Unknown No comments

State owned Shipping Corporation of India said it will acquire 60 vessels by March 2015, entailing an investment of about INR 200,00 crore.

The company also plans to diversify and enter into areas like ship building to become a full fledged maritime player from a shipping company at

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Tension grips at Kalinganagar complex

10:25 PM Unknown No comments

Tension again gripped the Kalinganagar Industrial Complex, the emerging steel hub in Jajpur district, after activists from the Visthapan Virodhi Jana Mancha clashed with supporters of the upcoming TATA Steel project.

VVJM is the organization at the forefront of an agitation against the

More Info

China long products output in five months

10:24 PM Unknown No comments

It is reported that China long product output for January to May data is given below
Product May'10 May'09 Change J-M'10 J-M'09 Change

Rebar 11.66 9.92 17.60% 53.41 45.69 16.90%

Wire rod 9.35 7.92 18.10% 43.3 35.66 21.40%

Wide and medium strip 8.83 7.02 25.80% 42.4 30.79 37.70%

Bar products 6.16 4.6 33.70% 27.76 20.92 32.70%

Large section 0.76 0.69 9.50% 4.14 3.56 16.10%

Railway steel products 0.46 0.38 20.70% 2.3 2.41 -4.60%

Light rail 0.36 0.3 20.70% 1.79 1.89 -5.50%

Heavy rail 0.09 0.07 20.70% 0.43 0.42 1.20%

In million tonnes

(Sourced from MySteel.net)
Visit www.Mysteel.net for real time access to China steel news!

Update on Japanese iron and steel output in May 2010

10:24 PM Unknown No comments

May '10 Apr '10 Change YTD '10 Change

Pig Iron Production 7,167.7 6,681.6 7.3% 33,923.8 142.8%

(For steelmaking) 7,145.6 6,651.1 7.4% 33,789.8 142.8%

(For castings) 22.1 30.5 -27.5% 134.0 164.9%

Crude Steel Production 9,727.3 8,986.8 8.2% 45,224.9 151.7%

(LD converter) 7,513.7 6,997.0 7.4% 35,637.2 156.4%

(Electric arc furnace) 2,213.6 1,989.8 11.2% 9,587.7 136.7%

(Ordinary steel ingot) 7,561.3 6,998.3 8.0% 35,302.8 143.1%

(Specialty steel ingot) 2,132.9 1,957.2 9.0% 9,770.9 196.1%

(For castings) 33.1 31.2 6.1% 151.1 97.5%

(Total: Ordinary steel) 7,577.3 7,013.2 8.0% 35,373.3 143.0%

(Total: Specialty steel) 2,150.0 1,973.6 8.9% 9,851.6 194.5%

In '000 tonnes

Source - JISF

ACC updates on May 2010 production

10:24 PM Unknown No comments

India’s largest cement company ACC said that announced its cement production and dispatch figures for the month of May 2010

May '10 May '09 J-M '10 J-M '09

Cement production 1.81 1.81 9.14 9.25

Cement dispatches 1.75 1.825 9.09 9.25

In million tonne

Poll results (Week 24) - Steel prices to recover in Q3 on production cut

10:24 PM Unknown No comments

Question - Steel prices to recover in Q3 on production cut

Results
Answer %

Yes 71

No 25

Can't say 4

Total votes polled - 51

These are the results of on line poll on www.steelguru.com during Week 24 of 2010 (June 14th 2010 to June 19th 2010)

Macroeconomic indicators - Indian exports in May post 35pct growth

10:23 PM Unknown No comments

It is reported that exports remained in the positive territory for the seventh successive month, but the 35% growth in shipments in May was lower than that in the same month last year.

Exports in May were worth USD 16.1 billion against USD 12 billion in May 2009. Following the global

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No serious near term issues for Indian shipyards - CARE

10:23 PM Unknown No comments

In a recent report on the global shipbuilding industry, rating and research agency CARE Ratings has forecast a 9% to 10% over capacity on the existing fleet as a result of new deliveries of ships coming in over the next couple of years besides the decline in sea borne trade.

In an

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BSL to raise USD 500 million

10:22 PM Unknown No comments

In an interview with CNBC-TV18, Mr Nitin Johri CFO of Bhushan Steel & Strips, spoke about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with Mr Nitin Johri on CNBC-TV18.

Q - Just start off by walking us through how much you want

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Get SMS alert for Indian steel price indices

10:22 PM Unknown No comments

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

The domestic steel prices across various locations in India are different due to variety of factors and the day to day changes are also different. It is seen

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Punjab imposes weekly power cut on steel producers

10:22 PM Unknown No comments

PTI reported that the Punjab State Power Corporation has decided to impose one day power cut on the steel producing industry per week from today.

Besides, Punjab State Power Corporation POWERCOM has also imposed 2.5 hours cut per day on urban and rural sectors. Mr KD Chaudhary CMD of

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Monday Market Monitor - India - WEEK 24 - Continues to be down

10:21 PM Unknown No comments

The price shedding in June by most of the players has failed to stir the market. Although right from the beginning it was supposed to be mere cover up steel majors to align with the market, some expectation of buying revival inherent.

Most of the steel majors have reduced prices of TMT bars

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Pencil ingot price movement in major places

12:37 AM Unknown No comments

Pencil ingot
Location Change

Ahmedabad -100

Bhiwari 100

Durgapur 91

Ghaziabad 200

Hyderabad 0

Jaipur 200

Jamshedpur 200

Kanpur 262

Kolkata -91

Mandi 181

Mumbai 0

Muzzafarnagar 262

Nagpur 0

Raigarh 181

Raipur 181

Rourkela -91

Rudrapur 174

Change is on 18th June as compared to 17th June 2010
Change is in INR per tonne

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HR steel prices movement on June 18

12:37 AM Unknown No comments

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -179

Indore 0

Kolkata 0

Ludhiana -363

Mumbai 0

Change is on 18th June as compared to 17th June 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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Rebar TMT QST price movement in India on June 18

12:36 AM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad -200

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore -200

Kanpur 0

Kolkata 0

Mandi 208

Mumbai 0

Raipur 0

Rudrapur 0

Muzzafarnagar 0

Change is on 18th June as compared to 17th June 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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(Sourced from www.steelprices-india.com)

Steel melting scrap price movement on June 18

12:36 AM Unknown No comments

Melting scrap
80:20
HMS
Location Change

Chennai 0

Hyderabad 0

Kandla 200

Kanpur 174

Kolkata -181

Mandi 181

Mumbai 0

Rudrapur 174

Change is on 18th June as compared to 17th June 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 movement on June 18

12:36 AM Unknown No comments

PLTS
GR B
12-20x2.5
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -179

Indore 0

Kanpur 0

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur 0

Change is on 18th June as compared to 17th June 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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Gopalpur Ports to invest INR 27 crore on building embankments

12:36 AM Unknown No comments

Gopalpur Ports Limited a special purpose vehicle developing the minor port at Gopalpur into an all weather port has decided to construct at least eight stone groins off the Ganjam coast in Orissa at a cost of INR 27 crore. These embankments are being built with the objective to prevent the

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Mahindra and Mahindra sued by American distributor in US

12:35 AM Unknown No comments

Auto maker Mahindra and Mahindra has been sued by an Atlanta based company Global Vehicles, for the Indian company’s delay in launching its pick up truck.

Global Vehicles which had entered into an exclusive agreement to sell Mahindra’s pick up trucks in the US, in a law suit

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Macroeconomic indicators - India to grow by 9 pct in Q1

12:35 AM Unknown No comments

According to Dr Kaushik Basu chief economic advisor ministry of finance, Indian economy is likely to grow by 8.9% in the first quarter of the current fiscal compared to 8.6% in the previous quarter.

Mr Basu at a press conference said that "This quarter, the quarter that we have entered

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Larsen and Toubro bags INR 1440 crore order in buildings segment

12:35 AM Unknown No comments

Larsen and Toubro’s Buildings & Factories Operating Company part of its Construction Division has secured orders aggregating to INR 1440 crore for the construction of residential towers, township and factory buildings.

L&T has secured new orders aggregating to INR 1294 crore for the

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Cargo throughput up at all major ports in India

12:34 AM Unknown No comments

It is reported that the overall port traffic in May has been estimated at 4.78 million tonnes, as against 4.66 million tonnes a month earlier, posting a growth rate of 2.5%.

As per data compiled by the Indian Ports Association the traffic volume at the 12 Major Ports grew, on a yearly

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Mines minister wants steel makers to adopt FINEX technology

12:34 AM Unknown No comments

Mr B K Handique mines minister wants the steel industry to first adopt FINEX technology that refines the iron ore fines before asking for a ban on exports of the raw material.

The minister said that “If we ban exports, thousands of people will lose jobs referring to the iron ore

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Karnataka may commit partial linkages for iron ore

12:34 AM Unknown No comments

Given the rush of investment proposals from steel firms to set up plants in Karnataka and their requirement for captive iron ore mines, the state government is likely to fulfill only half their demand.

Mr VP Baligar principal secretary industry & commerce of Karnataka said that the

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SAIL RSP re commissions BF gasholder

12:33 AM Unknown No comments

The blast furnace gasholder of Rourkela Steel Plant was re commissioned and put into operation on Friday, the first major capital repair since its inception in 1965.

RSP sources said that the repair work commenced on April 8 and the company was able to make the gasholder operational almost

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Flat product prices crash in Kanpur on expected rebate

10:52 PM Unknown No comments

The flat product market plummeted by an unusual 1% to 3% in Kanpur on 16th June raising many eyebrows. The accelerated depreciation in an already languishing market definitely had a catch.
Product Grade Size (mm) Change %

HRC Cold rolling 2x1000 0%

PLTS GRA 8x1.25 -1%

PLTS GRA 8x1.5 -1%

PLTS GRB 12-20x2.5 -1%

CR DSK 0.63x1000 -1%

CR DSK 0.8x1250 -1%

GP 120Gms -3%

GP 120Gms 0.63 -3%

GP 120Gms 1 -3%

GC 120Gms -3%

GC 120Gms 0.63 -3%

It is prevalent that the flat product market in India has been purging since end April after an unprecedented rally in the wee months of 2010 by an average of INR 8000 per tonne. The tumble of up to 9% is unprecedented by any yardstick.
Category 26-Apr 16-Jun Change %

PI � Narrow Plates 8129 7419 -711 -9%

PI - Wide Plates 8481 7891 -589 -7%

PI - Hot Rolled 8306 7659 -647 -8%

PI - Cold Rolled 9358 8755 -603 -6%

PI - Galvanized 9205 8411 -794 -9%

PI - Product Index
(Source: www.steelprices-india.com)

The steel majors have already announced a price revision of INR 1500 per tonne to INR 3000 per tonne on 1st June are yet to breathe reprieve ever since as the demand remains feeble in all quarters.

However during the course of the month the decline has accelerated signaling a hidden speculative agenda. It is learnt that the most of the steel majors are already doling out rebate to the tune of INR 500 per tonne to INR 1000 per tonne over an above the reduction.

It is learnt that most of the dealers and MOU customers already having availed of the quantity based rebate are aspiring for an enhancement in the last week of June. Since the hiked rebate will be applicable on total monthly off take it will bloat the flimsy margin at their end. End users on the hindsight are expectant of this rebate being passed over. Hence they are opting to withhold even residual buying till the dust settles in the process further gravitating the prices.

The debacle in Kanpur is replicated all over India in varying degrees indicative of its omnipresence.

www.steelprices-india.com is a comprehensive portal that provides domestic pricing information for benchmark steel products in each category at select location in India on a regular basis 5 days a week and international price levels on a weekly basis.

As steel in each category comes in hundreds of grades shapes and sizes, we have taken benchmark products in each category at select locations to cover the entire basket of garden variety of steel products including input material for steel making and processing.

Products covered
1. Input materials - Iron ore, scrap, sponge iron, pig iron pencil ingot, billets and blooms
2. Long products - Rebar, wire rod, angle, channel and joists
3. Flat products - Narrow plates, wide plates, HR, CR and galvanized
4. Others - Pipes

Methodology and access
1. Benchmark products in each category with fixed commonly used sizes and grades
2. Base prices or effective, as per market trends
3. Average transaction levels which have settled well, based on continuous interactions with domestic mills, overseas suppliers, importers stockiest & service centers and buyers
4. On fixed market oriented payment terms
5. Daily updates
6. Data available since July 2008
5. Access through web site

Price basis
Without ED and VAT for all products except for rebar and sections

The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available.

In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data.

Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news.

Subscription charges for 12 months access

If you would like two or more access licenses to www.steelprices-europe.com for your company, a multi-user license is required and is more cost effective and easier to manage than having numerous individual subscriptions. The rate chart is as under

If you would like two or more access licenses to Steelprices-india.com for your company, a multi user license is required and is more cost effective and easier to manage than having numerous individual subscriptions.

Indian steel price index remain flat on Jun 17

10:51 PM Unknown No comments

The Indian Long Product Price Index ILPPI remain flat whereas Indian Flat Product Price Index IFPPI down by 5 points. The overall Indian Steel Price Index INDSPI down by 2 points
Class 16-Jun 17-Jun Change %

ILPPI 6799 6799 0 0.0%

IFPPI 7918 7913 -5 -0.1%

INDSPI 7332 7330 -2 0.0%

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

Long Products
Category 16-Jun 17-Jun Change %

PI - TMT 6647 6641 -6 -0.1%

PI - WRC 7187 7187 0 0.0%

PI - Angle 6451 6463 13 0.2%

PI - Channel 6540 6553 13 0.2%

PI - Joist 6075 6077 3 0.0%

PI - Product Index

Flat Products
Category 16-Jun 17-Jun Change %

PI - Narrow Plates 7419 7419 0 0.0%

PI - Wide Plates 7891 7891 0 0.0%

PI - Hot Rolled 7659 7659 0 0.0%

PI - Cold Rolled 8755 8741 -15 -0.2%

PI - Galvanized 8411 8390 -22 -0.3%

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

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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(Sourced from www.steelprices-india.com)

Pencil ingot price movement in major places

10:51 PM Unknown No comments

Pencil ingot
Location Change

Ahmedabad 0

Bhiwari 100

Durgapur 0

Ghaziabad 100

Hyderabad 0

Jaipur 100

Jamshedpur 200

Kanpur 0

Kolkata 0

Mandi 91

Mumbai -100

Muzzafarnagar 0

Nagpur 91

Raigarh 0

Raipur 0

Rourkela 0

Rudrapur 0

Change is on 17th June as compared to 16th June 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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(Sourced from www.steelprices-india.com)

Rebar TMT QST prices remain flat at most places on June 17

10:51 PM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai -115

Raipur 0

Rudrapur 0

Change is on 17th June as compared to 16th June 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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(Sourced from www.steelprices-india.com)

Pig iron price movement on June 17

10:50 PM Unknown No comments

Pig iron
Foundry Grade
Location Change

Agra 0

Jallandhar -91

Kolkata -91

Raipur -181

Change is on 17th June as compared to 16th June 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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(Sourced from www.steelprices-india.com)

Indian automakers planning for price hike - Report

10:49 PM Unknown No comments

ET reported that car companies are preparing to raise prices for the fourth time this year in July as raw material costs go through the roof, but are banking on strong pent up demand to prevent sales from falling.

Companies like M&M, General Motors, Ford, Toyota and Maruti are negotiating

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Orissa to increase power generation capacity to 52000 MW by 2017

10:49 PM Unknown No comments

Stung by widespread criticism from opposition and experts for its mismanagement of power generation in the state in the last one decade, Mr Naveen Patnaik CM of Orissa is aggressively pursuing the MoU signing companies to complete their power plant as per the deadline. The state government

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Sponge iron prices down at most places on June 17

10:48 PM Unknown No comments

Sponge iron
Location Change

Bellary 0

Kolkata -100

Raigarh -100

Raipur -100

Rourkela -200

Change is on 17th June as compared to 16th June 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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(Sourced from www.steelprices-india.com)

HR steel prices movement on June 17

10:48 PM Unknown No comments

HRC
Tube
2.5x1250
Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana -91

Mumbai 0

Change is on 17th June as compared to 16th June 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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(Sourced from www.steelprices-india.com)

Macroeconomic indicators - Inflation at uncomfortable levels - Mr Rangarajan

10:40 PM Unknown No comments

India's inflation rate has reached uncomfortable levels and some action from the RBI is needed to curb demand side pressures.

Mr C Rangarajan chairman of the Prime Minister's Economic Advisory Council said that "I don't know what the RBI (Reserve Bank of India) will do. All I can say is

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IIL revives plans to sell minority stake in Bhadrawati project - Report

10:39 PM Unknown No comments

TOI reported that Ispat Industries Limited has revived plans to sell a majority stake in the Bhadrawati thermal power project in Maharashtra.

As per report, IIL has appointed SBI Capital Markets to find a strategic partner to build the 1000 MW power station in the energy deficit state.

A

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Monsoons will not affect cement consumption - Mr Bangur

10:38 PM Unknown No comments

Mr HM Bangur MD of Shree Cements in an interview with CNBC-TV18 spoke about his outlook for the company and the impact of monsoons on cement.

Below is a verbatim transcript of the interview.

Q - Lot’s of talk about price cuts across the board. The capacity glut coming in to the

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TATA Steel sets new benchmark in Rehabilitation at Kalinganagar

10:37 PM Unknown No comments

Rehabilitation and resettlement is one of the major concerns for TATA Steel in Kalinga Nagar. To address this, the company came out with a model R&R scheme TATA Steel Parivar a benchmark in the industry. Inspired by the values of enunciated by its founder Mr J N Tata the company considers the

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ACCI threatens to shut down industries in Punjab on electricity tariff hike

10:36 PM Unknown No comments

According to the latest reports, the members of the Apex Chamber of Commerce and Industry in Punjab threatened the government to shut down the industries due to hike in electricity duty from 10% to 13% as announced by the state Finance Minister Ms Manpreet Badal.

ACCI asked the government

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POSCO breaks ground for service center in Maharashtra

10:36 PM Unknown No comments

South Korean steelmaker POSCO on June 14 held a ground breaking ceremony for POSCO-ISDC, its new distribution center near Dighi Port in Maharashtra.

Scheduled to open in December and featuring four cranes on the 33,058 square meter space, POSCO-ISDC is expected to handle 360,000 tonne of

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ArcelorMittal eying stake in Ramsarup Industries - Report

10:36 PM Unknown No comments

BS reported that ArcelorMittal is eyeing a stake in the Kolkata based steel and wire producer Ramsarup Industries.

Sources in Ramsarup said the company is in discussion with global companies, including ArcelorMittal, for a strategic stake in their company. An ArcelorMittal spokesperson said

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JSPL gets 3 year extension on Bolivian deal - Report

10:35 PM Unknown No comments

ET, citing a person with direct knowledge of the development, reported that Jindal Steel & Power Limited has got three years extension to begin constructing its USD 2.1 billion steel plant in Bolivia as against the original deadline of 2010.

As per report, the Bolivian government has

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POSCO war zone - Major breakthrough for POSCO

10:34 PM Unknown No comments

The survey work at the proposed POSCO steel plant site near Paradip resumed on Thursday, four days after anti POSCO agitators agreed to cooperate with the Orissa government on it.

A senior official said that altogether eight teams comprising six members each entered Gobindpur gram panchayat

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Chennai shows unusual rally in TMT prices on 16th June

10:34 PM Unknown No comments

Chennai seemed like an oasis in the desert with a rally in TMT prices on 16th June. The price hike to the tune of INR 1040 per tonne by secondary producers was an attempt to push the prices to set a positive momentum with all the potential to end in a whimper.

Experts opine that the current

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Indian flat product price index down further by 29 points

10:19 PM Unknown No comments

The Indian Long Product Price Index ILPPI went down by 9 points whereas Indian Flat Product Price Index IFPPI went own by 29 points. The overall Indian Steel Price Index INDSPI by down by 19 points
Class 15-Jun 16-Jun Change %

ILPPI 6808 6799 -9 -0.1%

IFPPI 7947 7918 -29 -0.4%

INDSPI 7351 7332 -19 -0.3%

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

Long Products
Category 15-Jun 16-Jun Change %

PI - TMT 6653 6647 -6 -0.1%

PI - WRC 7197 7187 -11 -0.1%

PI - Angle 6460 6451 -10 -0.2%

PI - Channel 6554 6540 -13 -0.2%

PI - Joist 6081 6075 -7 -0.1%

PI - Product Index

Flat Products
Category 15-Jun 16-Jun Change %

PI - Narrow Plates 7447 7419 -28 -0.4%

PI - Wide Plates 7916 7891 -25 -0.3%

PI - Hot Rolled 7679 7659 -21 -0.3%

PI - Cold Rolled 8783 8755 -28 -0.3%

PI - Galvanized 8503 8411 -92 -1.1%

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

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

For registration click or copy the link and paste it to your internet explorer address bar

http://steelprices-india.com/spi_services/terms_of_use_for_registration.html

(Sourced from www.steelprices-india.com)

Pencil ingot price moves own further in major places on June 16

10:19 PM Unknown No comments

Pencil ingot
Location Change

Ahmedabad -100

Bhiwari -300

Durgapur -181

Ghaziabad -200

Hyderabad 0

Jaipur -200

Jamshedpur -100

Kanpur -174

Kolkata 0

Mandi -91

Mumbai -200

Muzzafarnagar -174

Nagpur -272

Raigarh -91

Raipur -272

Rourkela -91

Rudrapur -174

Change is on 15th June as compared to 14th June 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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(Sourced from www.steelprices-india.com

HR steel prices crashes in Ahmedabad

10:19 PM Unknown No comments

HRC
Tube
2.5x1250
Location Change

Ahmedabad -453

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kolkata 0

Ludhiana -272

Mumbai -227

Change is on 15th June as compared to 14th June 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.

For registration click or copy the link and paste it to your internet explorer address bar

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(Sourced from www.steelprices-india.com)

Sponge iron price crashes in most places on June 16

10:19 PM Unknown No comments

Sponge iron
Location Change

Bellary 200

Kolkata -200

Raigarh -200

Raipur -200

Rourkela -100

Change is on 15th June as compared to 14th June 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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(Sourced from www.steelprices-india.com)

Rebar TMT QST price dips in Delhi

10:18 PM Unknown No comments

TMT
Fe 415
12mm
Location Change

Ahmedabad -200

Bangalore 0

Chennai 1040

Delhi -881

Hyderabad 0

Indore 0

Kanpur 0

Kolkata 0

Mandi -104

Mumbai -229

Raipur -208

Rudrapur 0

Change is on 15th June as compared to 14th June 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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(Sourced from www.steelprices-india.com)

Rays of recovery - TATA Motors global sales grow by 50 pct in May

10:18 PM Unknown No comments

Auto major TATA Motors said that its global sales increased by 50% in May to 79,819 units on robust demand for both commercial and passenger vehicles.

The company in a statement said that sales of luxury models from Jaguar Land Rover stood at 19,053 units during May, up 72% from the same

More Info