Hindustan Copper share sale likely in November

Reuters reported that Indian state run Hindustan Copper is likely to issue its follow on public offer in November.

Mr BK Handique mines minister of India said India's copper output was seen at 12 million tonnes in 5 to 7 years.

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Sutor Technology Group reports FY 2010 results

Sutor Technology Group announced its fiscal year 2010 results


FY'10 FY'09 Change

Revenue 478.7 429.8 11.40%

Gross profit 32.8 36.3 -9.60%

Net income 11.3 18.7 -39.60%

EPS 0.29 0.49 -40.80%



In USD million

1. Revenue

For the fiscal year ended June 30th 2010, revenue was USD 478.7 million compared to USD 429.8 million during the same period last year an increase of 11.4%. Sales volume increased by approximately 27.1% in fiscal year 2010 to approximately 746,000 tonnes as compared to the same period last year. The increase in revenue was primarily due to increased sales from the Company new 400,000 MT HDG steel production lines of approximately USD 99.8 million. Also benefiting revenue was the further implementation of the Chinese government's stimulus package and the rebound of downstream industries, which led to higher demand for fine processed steel products.

On a geographic basis, revenue generated from outside of China was USD 53.7 million or 11.2% of our total revenue for fiscal year 2010 as compared to USD 45.4 million or 10.6% of our total revenue for fiscal year 2009. This increase was mainly due to our efforts to expand product penetration into new markets and acceptance of our high value added anti-septic and anti- fingerprint products in international markets.

2. Gross Profit
Gross profit for the 2010 fiscal year was USD 32.8 million or 6.9% of revenue compared to USD 36.3 million or 8.4% of revenue during the same period last year. The decrease in gross margin was mainly attributable to higher production costs caused by a larger proportion of smaller orders we received in fiscal year 2010. Further, lower capacity utilization ratio of our new HDG production lines also adversely affected the gross margin.

3. General and Administrative Expenses
General and administrative expenses increased USD 0.9 million to USD 6.4 million or 1.3% of revenue, in fiscal year 2010 from USD 5.5 million or 1.3% of revenue in fiscal year 2009.

4. Selling Expenses

Selling expenses increased 72.3% to USD 8.1 million or 1.7% of total revenue, in fiscal year 2010 from USD 4.7 million or 1.1% of total revenue, in fiscal year 2009. The increase was mainly attributable to the rising costs of international sales.

The Company increased efforts on marketing and product promotion in the first fiscal quarter of 2010. In addition, transportation costs increased in the second half of fiscal year 2010 due to the increased percentage of international sales and freight costs.

5. Income from Operations
Income from operations in fiscal 2010 was USD 18.4 million a 29.8% decrease compared to USD 26.2 million during the same period last year.

6. Net Income

Net income was USD 11.3 million or USD 0.29 per diluted share, a decrease of 40.8%, compared to net income of USD18.7 million or USD 0.49 per diluted share, during the same period last year.

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Chinese domestic steel beam price remain flat

Beam
#25


Location In CNY In USD

Shanghai 0 0

Hangzhou 0 0

Nanjing 0 0

Jinan 0 0

Hefei 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 0 0

Changsha 0 0

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Shenyang 0 0

Harbin 0 0

Chongqing 0 0

Chengdu 0 0

Kunming 0 0

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Average 0 0



Change is on 30th September as compared to 29th September 2010
Change is per tonne
USD:CNY = 6.70

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UC RUSAL tips aluminum price will raise as China becomes net importer

The Australian reported that UC RUSAL is forecasting that China will become a net importer of the product next year boosting the price for Australian producers.

The world's biggest aluminum producer which turned around a loss of USD 922 million in the H1 of 2009 to USD 1.27 billion profits

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Philippine attracts investments in the energy sector from US

The Manila Standard Today quoted Mr Jose Rene Almendras energy secretary of Philippine as saying that the government has attracted investments in the energy sector during the ongoing visit of President Mr Benigno Aquino III to the US.

Mr Almendras said that "Yes, there are energy deals but

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Up to 150 jobs expected at SDI Fallon manufacturer

AP reported that Steel Dynamics Inc has announced plans to open a manufacturing plant in Fallon and intends to hire 125 to 150 workers to help make metal joists and decks.

Mayor Mr Ken Tedford Jr said that it's a big step because Commercial Metals was an important employer in the

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Price volatility hold in developing markets - MEPS

UK based MEPS said that in the Russian Federation, shipments to domestic customers have continued to exhibit signs of improvement. However, sales volumes remain 15% to 20% below pre recession levels. Official 3A scrap purchasing prices have remained volatile. All of this has fuelled

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Japanese crude steel output may decline in Q4

The Ministry of Economy, Trade & Industry said that steel output in Japan will likely fall by 1.5% in the quarter starting October 1st 2010 from the current quarter.

It added that crude steel production will likely decline to 26.98 million tonnes next quarter from 27.38 million tonnes in

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Macedonia to start talks on joining South Stream with Russia Gazprom

RIA Novosti quoted Macedonia's Finance Ministry said Macedonia will hold talks on October 1 with Russian gas giant Gazprom on joining the South Stream gas pipeline project which will bring Russian gas to Europe through the Black Sea.

The ministry quoted its head Mr Zoran Stavreski as

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Steel angle prices down in Mandi

ANGL
GR A
65X6


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi -104

Mumbai 0

Raipur 0

Rudrapur 0


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

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Chinese domestic steel rebar prices on down path

Rebar
20mm
HRB 400


Location In CNY In USD

Beijing 0 0

Changsha -30 -4

Chengdu 0 0

Chongqing -20 -3

Fuzhou 0 0

Guangzhou 0 0

Guiyang 0 0

Hangzhou 0 0

Harbin 0 0

Hefei 0 0

Jinan 0 0

Kunming -30 -4

Lanzhou 0 0

Nanchang 12 2

Nanjing 0 0

Shanghai 0 0

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Tianjin 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 0 0

Average -3 0


Change is on 30th September as compared to 29th September 2010
Change is per tonne
USD:CNY = 6.70

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Chinese domestic HR steel prices update on Sep 30

HRC
4.75mm
Common


Location In CNY In USD

Beijing 0 0

Changsha 0 0

Chengdu 0 0

Chongqing 0 0

Fuzhou 0 0

Guangzhou 0 0

Hangzhou 0 0

Harbin 0 0

Hefei -20 -3

Jinan 0 0

Kunming 0 0

Lanzhou 0 0

Nanchang 0 0

Nanjing 0 0

Shanghai 0 0

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Tianjin 20 3

Urumchi 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 0 0

Average 0 0


Change is on 30th September as compared to 29th September 2010
Change is per tonne
USD:CNY = 6.70

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

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Chinese domestic narrow HR strip prices update on Sep 30

HR Strip
183*2.75


Location In CNY In USD

Shanghai -50 -7

Hangzhou 0 0

Guangzhou 0 0

Wuhan 0 0

Tianjin 0 0

Chengdu 0 0

Wuxi 0 0

Lecong 0 0

Tangshan 0 0

Average -6 -1


Change is on 30th September as compared to 29th September 2010
Change is per tonne
USD:CNY = 6.70

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

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Sudan works with CNPC and Petronas on oil extraction

Reuters reported that Sudapet, Sudan national petroleum company, is working with China CNPC and Malaysia Petronas to boost its oil recovery yield by another 1 billion barrels by 2020

Split by a north-south civil war and hurt by US sanctions, Sudan is courting more
international exploration

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Bengang Steel Plates predicts to return profit in Q3

It is reported that Bengang Steel Plates projects that it will return to profit in the third quarter with profit of between CNY 120 million and CNY 220 million.

The company suffered a loss of CNY 523 million during the third quarter of 2009.

Bengang Steel Plates projected net profit of

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Iraq seeking funding from international oil firms

Trade Arabia reported that Iraq has asked international oil firms that won contracts to develop its vast oil reserves if they are interested in financing its huge crude export infrastructure projects.

Mr Abdul Kareem Luaibi deputy minister of Iraq said that the Oil Ministry is exploring

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ZADCO extends Satah development deadline

Abu Dhabi’s Zakum Development Company has pushed back the deadline by a month again to October 28th 2010 for firms to bid on its estimated USD 500 million Satah full field development scheme.

Sources said that the second delay follows request from bidding firms for extra time.

The


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NSL Power to raise INR 250 crore through IPO

NSL Power Limited part of city based Nuzuveedu Seeds Limited Group is aiming to raise INR 250 crore private equity fund before it goes to an IPO next year.

A top company official said that the company presently has about 100 MW wind power plant fully operational in Tamil Nadu and Karnataka

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Toyota Kirloskar to hike vehicle prices by upto INR 29000

Kirloskar Motor said that it will hike of its vehicles by up to INR 29,000 from October 1 to offset rising input costs and foreign exchange fluctuation. A company official said that "The price increase of the Innova, Corolla Altis and Fortuner will be up to 1.50%.”

It said that from

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Fangda Carbon predicts 50pct increase in Q1 to Q3 net profit

Shanghai Securities News reported that Fangda Carbon New Material estimates net profit for the first three quarters to increase 50%YoY.

Sales of Fangda carbon products increased significantly in the first three quarters YoY. It completed expansion work for a 400,000 tonnes iron concentrate

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Chinese domestic steel channel price update on Sep 29

Channel
#16


Location In CNY In USD

Shanghai 0 0

Hangzhou 0 0

Nanjing 0 0

Jinan 0 0

Hefei 0 0

Fuzhou 0 0

Nanchang -54 -8

Guangzhou -50 -7

Changsha 0 0

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Shenyang 0 0

Harbin 0 0

Chongqing 4 1

Chengdu 0 0

Kunming 0 0

Xian -30 -4

Lanzhou 0 0

Urumchi 0 0

Average -6 -1


Change is on 29th September as compared to 28th September 2010
Change is per tonne
USD:CNY = 6.69

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

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Pencil ingot price movement in major places on Sep 29

Pencil ingot


Location Change

Ahmedabad 0

Alang 0

Bhiwari 0

Chennai 0

Durgapur 0

Ghaziabad 200

Hyderabad 1300

Jaipur -100

Jamshedpur -100

Kanpur 174

Kolkata 0

Mandi 0

Mumbai -100

Muzzafarnagar 87

Nagpur 91

Raigarh 0

Raipur -200

Rourkela -100

Rudrapur 174


Change is on 29th September as compared to 28th September 2010
Change is in INR per tonne

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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 29th September as compared to 28th September 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 wire rod prices update on Sep 29

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi 0

Kanpur 349

Kolkata 0

Raipur 0

Rudrapur 174


Change is on 29th September as compared to 28th September 2010
Change is in INR per tonne

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

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China CNR acquires 45pct stake in Shanghai Rail Development

It is reported that China CNR Corporation acquired a 44.79% stake in Shanghai Rail Traffic Equipment Development from Shanghai Electric Group for CNY 365.09 million.

As per report, in addition China CNR Corporation injected CNY 84.91 million into Shanghai Rail Development of which CNY 62.52

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Madras HC orders closure of Sterlite copper smelting unit

The Madras High Court ordered closure of Vedanta Group Company Sterlite Industries' copper smelting plant at Tuticorin after noting that the company has failed to comply with environmental issues.

A Division Bench of Justices Elipe Dharmaro and Mr N Paul Vasantha kumar held that the plant


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Multilateral Carbon Credit Fund to purchase emission reduction credits

Argus reported that the EU's Multilateral Carbon Credit Fund will soon purchase as one project certified emission reduction credits generated by 10 hydropower plants in Armenia.

The single project falls under the clean development mechanism framework, allowing the plants to trade CERs on

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Egyptian domestic gas demand to block more exports

Reuters reported that Egypt looks set to extend 2 year moratorium on new gas export deals to meet surging domestic demand, a move that will disappoint some majors eyeing deals to develop reserves for overseas customers.

Europe's desire to diversify away from Russian supplies has focused

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Slowdown signs - Dubai cancelled half of planned property projects

Dubai’s government cancelled almost half of the real estate projects planned in the emirate after the credit crisis caused demand to collapse and a housing glut drove down home prices.

Out of 980 registered projects, 495 were scrapped or are in the process of being cancelled by the

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SJVN pays INR 160 crore dividend

Satluj Jal Vidyut Nigam Limited has paid a final dividend of INR 160 crore to the government of India. The dividend cheque was handed over to Mr Sushilkumar Shinde union minister of power.

The Company had declared a total dividend of INR 328.20 crore for the performance during the financial

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Punj Lloyd and Nuvia to form JV

Infrastructure major Punj Lloyd announced it will form a joint venture with French firm Nuvia for providing engineering and support services to the country's emerging nuclear sector.

The joint venture will be incorporated between PL Engineering, a group company of Punj Llyod, and Nuvia

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Ukraine wants to revise ArcelorMittal agreement

It is reported that prosecutor General of Ukraine appealed to the Economic Court of Kiev to revise changes in the contract of sale of 93.02% shares of Krivoy Rog Mining and Metallurgical Combine Kryvorizhstal dated October 24th 2005.

The Prosecutor wants to check fulfillment of the buyer


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China Power Technology plans Nasdaq listing for USD 80 million

China Knowledge reported that China Power Technology Inc, Chinese industrial boiler manufacturer last week submitted initial public offering application to the US Securities and Exchange Commission to raise USD 80 million from Nasdaq listing.

Revenue of China power technology reached USD 81

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CNPC reports major gas find in Turkmenistan

Reuters reported that state owned China National Petroleum Corp has discovered a major gas field on the right bank of the Amu Darya River in Turkmenistan that will beef up supplies to China.

CNPC said CNPC Amu Darya River Natural Gas Corp had struck a steady flow of 1.439 million cubic

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BaoSteel Group secures CNY 80 billion credit line from Bank of China

Baosteel Group Corp has got CNY 80 billion credit line from Bank of China Ltd.

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OPEC will not change output quota - Mr Al Abdullah

Reuters cited Mr Sheikh Ahmad Al Abdullah Al Sabah oil minister of Kuwait as saying that that OPEC will not change its output quota at its next meeting on October 14 in Vienna.

Mr Al Abdullah said while asking what the likely outcome of the meeting will be that no increase no change we will

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China country wise pig iron export in 8 months 2010

It is reported that China country wise pig iron export during January to August total 564,630 tonnes which South Korea topping the table


Country Aug'10 Jan-Aug'10 Share

Total 29,102 564,630

South Korea 1,345 239,870 42.5%

Japan 22,460 194,672 34.5%

US 0 56,880 10.1%

Taiwan Region 5,252 36,424 6.5%

Thailand 0 30,770 5.4%

Viet Nam 0 5,833 1.0%

Malaysia 44 177 0.0%


In tonnes

(Sourced from MySteel.net)

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Chinese domestic steel billet price update on Sep 28

Billets
150*150
Q235


Location In CNY In USD

Fujian 0 0

Liaoyang 0 0

Linfen 0 0

Linzhou -56 -8

Shandong 0 0

Tangshan -30 -4

Tianjin 0 0

Zibo 0 0

Average -11 -2


Change is on 28th September as compared to 27th September 2010
Change is per tonne
USD:CNY = 6.69

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

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Long product trends in Iranian market

Long products market in Iran was so confused and ambiguous during last week. By the beginning of the week sections prices started rising, angle and UNP prices were up around USD 20 per tonne debar around USD 10 per tonne to USD 20 per tonne and I beam by USD 15 per tonne.

Market trend was


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BPCL to commence production at Bina refinery

BPCL is likely to commence commercial production at its 6 million tonne per annum Greenfield refinery at Bina in Madhya Pradesh, set up at a cost of INR 11,397 crore by the beginning of calendar year 2011. The Bina refinery is being implemented by joint venture company Bharat Oman Re

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TATA Steel in talks with banks to refinance USD 5 billion loan

TATA Steel would finalize plans to refinance USD 5.4 billion loans for its British unit Corus this week.

Mr B Muthuraman vice chairman of TATA Steel told reporters that “The refinance plan for Corus is happening this week.”

However, he declined to name the banks with which

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Tianjin annual oil refining capacity to hit 31 million tonnes

It is reported that Tianjin annual oil refining capacity will hit 31 million tonnes during the 12th Five Year Plan period after completion of a 13 million ton Sino Russian oil refining project in Tianjin Nankang Industrial Zone.

The 13 million ton Sino-Russian oil refining project started

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Wugang CRNGO steel used by globally no 1 compressor plant

It is reported that Wuhan Steel newly developed non oriented silicon steel successfully marched into global No.1 compressor manufacturing plant becoming the first batch supplier in China market.

By June 2010, Wugang output capacities have reached 2 million tonnes per year becoming the

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Macroeconomic indicators - UAE GDP growth to top AED 1 trillion

The UAE’s low inflation economy is set to grow more than AED 1 trillion this year and offers an attractive environment for businesses to make long term plans.

Mr Ahmad Humaid Al Tayer governor of the Dubai International Financial Centre said that the nation’s projected nominal


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China country wise scrap steel import in 8 months 2010

It is reported that China country wise scrap steel import during January to August 2010 total 4,094,723 tonnes which Japan topping the table.


Country Aug'10 Jan-Aug'10 Share

Total 531,205 4,094,723

Japan 247,804 1,817,855 44.4%

US 171,712 1,201,916 29.4%

Hong Kong 32,323 252,982 6.2%

Australia 3,777 176,720 4.3%

South Korea 10,233 105,915 2.6%

Kazakhstan 11,879 93,794 2.3%

Russia 2,242 60,877 1.5%

Spain 4,791 58,208 1.4%

PRChina 13,107 46,167 1.1%

Porto Rico 2,666 34,852 0.9%

Germany 5,057 24,855 0.6%

Sweden 2,760 22,156 0.5%

Taiwan Region 1,057 22,082 0.5%

Malaysia 1,318 21,457 0.5%

UK 2,392 20,381 0.5%

Canada 851 20,346 0.5%

Kyrgyzstan 2,367 18,028 0.4%

Singapore 0 14,902 0.4%

North Korea 0 10,969 0.3%

Thailand 433 9,820 0.2%

Philippines 0 7,233 0.2%

Greece 6,660 6,660 0.2%

France 218 5,134 0.1%

Finland 583 5,053 0.1%

Romania 4,247 4,860 0.1%

New Zealand 434 4,666 0.1%

Holland 22 4,476 0.1%

Belgium 300 4,247 0.1%

Brazil 0 3,144 0.1%

Italy 104 2,623 0.1%

Kuwait 0 1,683 0.0%

Portugal 283 1,313 0.0%

The Dominican Republic 0 1,232 0.0%

Turkey 0 1,077 0.0%

Lithuania 1,010 1,010 0.0%

South Africa 0 967 0.0%

Macao 0 908 0.0%

Costa Rica 0 887 0.0%

Ghana 294 750 0.0%

Bahrain 0 650 0.0%

Czech 43 381 0.0%

Trinidad and Tobago 0 342 0.0%

UAE 122 168 0.0%

Saudi Arabia 101 147 0.0%

Norway 0 127 0.0%

Viet Nam 0 102 0.0%

Slovak 0 100 0.0%

Latvia 0 87 0.0%

Cambodia 0 70 0.0%

Mongolia 0 56 0.0%

Egypt 0 55 0.0%

Sudan 0 52 0.0%

Madagascar 0 50 0.0%

Mexico 0 38 0.0%

Indonesia 0 35 0.0%

Colombia 0 24 0.0%

India 0 9 0.0


In tonnes

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

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China country wise coal export in 8 months 2010

It is reported that China country wise coal export during January to August 2010 total 13,177,200 tonnes which South Korea topping the table


Country Aug'10 Jan-Aug'10 Share

Total 1,696,999 13,177,200

South Korea 441,186 5,311,815 40.3%

Japan 703,656 4,386,739 33.3%

Taiwan Region 449,123 2,823,658 21.4%

Hong Kong 65,304 328,728 2.5%

North Korea 18,502 148,782 1.1%

Turkey 3 118,940 0.9%

Belgium 10,976 21,276 0.2%

Viet Nam 5,594 15,473 0.1%

Norway 0 6,269 0.0%

Malaysia 20 5,836 0.0%

Indonesia 20 3,586 0.0%

Sudan 1,954 1,954 0.0%

Philippines 18 1,830 0.0%

Mongolia 226 559 0.0%

Burma 367 367 0.0%

Saudi Arabia 0 334 0.0%

Australia 0 326 0.0%

Kenya 0 160 0.0%

UAE 0 143 0.0%

Thailand 0 95 0.0%

Egypt 0 88 0.0%

Finland 16 48 0.0%

Argentina 0 35 0.0%

Pakistan 0 34 0.0%

Germany 10 25 0.0%

South Africa 20 20 0.0%

Iraq 0 20 0.0%

Singapore 0 16 0.0%

Iran 0 15 0.0%

Kuwait 0 15 0.0%

Oman 0 5 0.0%

Uzbekistan 1 1 0.0%


In tonnes

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

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Rays of recovery - Turkish construction grows despite global troubles

The Association of Turkish Building Material Producers said that Turkey’s construction sector’s contribution to the country’s overall growth in the H1 2010 increased by 5.7% due to new projects abroad.

Economists, consultants, construction companies and executives of

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INSIG sees 7pct increase in finished steel output

According to the Iranian Mines and Mining Industries Development and renovation Organization, Iranian steelmaker Iran National Steel Industrial Group produced 512,000 tonnes of finished steel products and 109,751 tonnes of billet in the first 5 months of the current Iranian year up 7% and 10%

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RINL VSP teams bag 29 awards at CCQC 2010

Teams from Visakhapatnam Steel Plant bagged 20 Gold, 7 Silver and 2 Bronze Medals at the 10th Chapter Convention of Quality Circle Forum of India held recently at Hotel Green Park, Visakhapatnam.

During the convention 77Quality Circle teams from 16 organizations both from Public and Private

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Mahindra and Mahindra to hike auto prices next month

Auto major Mahindra & Mahindra said that it will raise prices of all its products by up to INR 8,000 with effect from October 1 due to higher raw material costs and implementation of new emission norms.

Mahindra & Mahindra in a statement said that "This increase would be in the range of

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Severstal mill 5000 plate deliveries in 8 months reach the full 2009 level

It is reported that Severstal Cherepovets, the main steel producing facility of Severstal Russian Steel in the first eight months of this year the shipments of plate produced at its mill 5000 amounted to 491,000 tonnes corresponding to the volume for the whole year of 2009.

Severstal

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Steel wire rod prices remain flat in major places on Sep 24

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi 0

Kanpur 262

Kolkata 0

Raipur 0

Rudrapur 349


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

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Steel joist I Beam prices scenario in major places on Sep 24

JSTI
GR A
250X125


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 200

Kanpur 300

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 400



Change is on 24th September as compared to 23rd September 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 scenario on Sep 24

PLTS
GR B
12-20x2.5


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 177

Indore 0

Kanpur 174

Kolkata 0

Mumbai 0

Raipur 0

Rudrapur -87


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

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General Automotive announces JV with Taichi Automotive

General Automotive Company a North American provider of aftermarket parts and advanced technology for the automotive industry announced a joint venture agreement with Taichi Automotive of China.

General Automotive continues to expand its manufacturing and supplier base in China with this

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Oman oil output soars despite lower capital

Emirates Business 24/7 reported that Oman boosted its oil production by over 60,000 barrels per day to one of its highest levels in the first 7 months of 2010 despite 19% cut in investments in the sector.

The Ministry of National Economy said in its monthly report that from 797,000 barrels

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Turkish steel pipe exports in August surge by 27pct

According to the data provided by the Istanbul Mineral and Metals Exporters Association, in August this year Turkey's total steel pipe exports amounted to 145,930 tonnes rising by 27.38% YoY. Meanwhile, the revenue generated by these exports totaled USD 129.06 million improving by 6.68%

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ICRA upgrades ratings of Surana Corporation

Credit rating agency, ICRA has upgraded the rating assigned to the INR 146 million term loans and the INR 77 million, fund based limits of Surana Corporation from LBBB to LBBB+. The outlook on the rating is stable.

ICRA has also upgraded the rating assigned to the INR 1.32 billion, non

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KIC Metaliks restarts mini BF at Durgapur plant

KIC Metaliks Ltd has now announced with reference to the shutdown of Mini Blast Furnace at the Durgapur Plant of the company that the repair work and relining of the furnace is complete and is has been reheated on September 22nd 2010 for commercial production.



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Long product market get geographically dissected in India

The Indian long product market has been the cynosure of attention over the last couple of months. After the prolonged hiatus of nearly 4 months culminated in pick of prices in mid August. The rally petered out after a month long rally unable to sustain purely on speculative fodder. However in

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EU carbon benchmarks may kill steel industry - EUROFER

EUROFER said that the European steel industry may get only 60% of the carbon allowances it needs for free under a regulatory draft that may kill producers.

Mr Axel Eggert spokesman of EUROFER the European Commission is devising benchmarks to reward the most efficient manufacturers as it

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OMC the main sponsor of the conference Pipes 2010

The United Metallurgical Company acted as principal sponsor of the XVIII International Conference "Pipes 2010". The forum titled "The results of the modernization of the domestic steelmaking, rolling and pipe production to improve the performance properties and the quality of tubular

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China ACM announces three new HSR contracts

China Advanced Construction Materials Group Inc, a leading provider of ready mix concrete and related technical services in China, announced it has been awarded three high speed rail contracts valued at a total of USD 10.7 million.

All three contracts were awarded to the Company

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GC steel HDG price remain flat on Sep 23

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana 0

Mumbai 0

Rudrapur 0



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

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Steel angle prices movement on Sep 23

ANGL
GR A
65X6


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 115

Raipur 208

Rudrapur 0


Change is on 23rd September as compared to 22nd September 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 Sep 23

GP
100Gms
0.40


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 91

Kanpur 0

Rudrapur 0

Bangalore 0


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

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Turkey gradually sell off up to 49pct of TPAO

Mr Taner Yildiz energy minister of Turkey as saying that government planned to gradually sell off up to 49% of state oil company TPAO in public offerings.

Mr Yildiz said that state pipeline company BOTAS will be privatized in the same way. This will come onto the agenda in concrete terms

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Turkey keen to have Nano production facility with TATA Motors

Turkey wants Indian conglomerate the TATA group to consider setting up a manufacturing plant for its Nano car to cater to demand for small cars in the European market.

Mr Levent Bilman Turkish Ambassador to India told PTI that “To market the Nano in Europe is a very good idea if they

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IOC to invest INR 47000 crore this year

According to Mr BM Bansal chairman of Indian Oil Corporation, Indian Oil Corporation will invest INR 47,000 crore in 2010-11 in creating more refining capacity, pipeline network, marketing infrastructure and raising quality.

Mr Bansal added that IOC is planning to take its total yearly

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Larsen and Turbo and Befula Investments ink JV

Larsen & Toubro and Befula Investments Ltd of South Africa have signed a Share Holders Agreement to incorporate a Joint venture company ‘LARSEN & TOUBRO T&D SA LTD in South Africa to capitalize on the Power Transmission and Distribution opportunities in South Africa. The agreement was

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Tips to enhance your experience - Using the power of our platform

A. Trade leads
It gives unique opportunities to publish your selling or buying needs on www.steelguru.com, but it can be operated only after log in

You can select the Trade Leads” in TOP BAR and click on “New Post” to register your proposal, which after verification by

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Steel light channel prices update on Sep 22

CHNL
GR A
75/100


Location Change

Ahmedabad 229

Bangalore 0

Chennai 0

Delhi 0

Indore 200

Kanpur 200

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 200



Change is on 22nd September as compared to 21st September 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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Chinese refined copper imports and consumption rise in August

Reuters reported that China's apparent annual consumption of refined copper rose by almost a quarter in August driven by a surge in imports and domestic output in response to a revival of the nation's hunger for commodities.

According to Reuters calculations based on net imports, domestic

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Mr Fontana is new CEO of ArcelorMittal stainless division

ArcelorMittal announced that Mr Bernard Fontana has been appointed CEO of its Stainless Division, which is currently being assessed for a potential spin off.

Mr Fontana was previously Head of Human Resources for the Group and is replacing Mr Jean Yves Gilet, who has left the company to head

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EU commercial vehicle manufacturers to reduce CO2 emissions

European Automobile Manufacturer's Association has announced that the European commercial vehicle manufacturers are developing an evaluation tool to calculate real life CO2 emissions from trucks and buses ahead of purchase. Market forces play an instrumental role in reducing CO2 emissions

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Steel prices in US rise against forecasters predictions

It is reported that despite predictions that world wide steel prices would remain weak for the rest of 2010, they have started to climb for several types of the metal used in products ranging from ships to tin cans, appliances and oil pipelines.

US rebar producers are pushing ahead with a

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Wide steel plate price remain flat on Sep 22

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

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

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Steel plate cuttings prices surges at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 500

Ship Scrap Melting Mixed 100



Change is on 22nd September as compared to 21st September 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 208

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 200

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0



Change is on 22nd September as compared to 21st September 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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Italian plate rerollers decreasing prices under pressure

From a previous base EXW price of EUR 600 per tonne they are now quoting EUR 580 per tonne and ready to go down to EUR 560 per tonne to EUR 565 for November deliveries.

Material from import that so far was offered within the range of EUR 540 per tonne to EUR 560 per tonne CFR FO will

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Severstal plans London float of gold mining division - Report

Cityam.com reported that Severstal is expected to launch a float of its gold mining division in London later this year.

Severstal, which also owns a portfolio of gold assets in Russia and West Africa, is likely to sell off around 30% to 35% of the company, retaining a large controlling

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LUKOil to supply China with natural gas

China Knowledge reported that Russia largest independent oil firm LUK Oil will sign a memorandum of understanding with China National Petroleum Corp by the end of this month in a bid to supply natural gas produced in Uzbekistan to China.

Reportedly, in 2009 LUK Oil produced 2.2 billion

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Canada investigating steel gratings from China

The Canada Border Services Agency has announced that it is initiating investigations into the alleged injurious dumping and subsidizing of certain steel grating originating in or exported from the People's Republic of China.

The investigations follow a complaint filed by Fisher & Ludlow

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Kuwait and Russia sign nuclear cooperation deal

KUNA reported that Kuwait and Russia have signed a memorandum of cooperation for peaceful use of nuclear energy generation in the Kuwai.

Mr Ahmad Bishara secretary general of Kuwait's National Nuclear Energy Committee said that the memo stipulated training cadres, exploration for metals,

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Turkish steel product exports to UAE in 8 months dawn by 9pct

According to the data provided by the Istanbul Mineral and Metals Exporters Association, in the January to August period of this year Turkey's steel product exports to the United Arab Emirates its largest steel export market fell by 9.21% YoY reaching 1.4 million tonnes.

The revenue

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Macroeconmic indicator - Indian GDP to grow above 9pct - CMIE

Centre of Monitoring Indian Economy in its monthly review said that India's GDP is expected to grow at 9.2% in FY11 on the back of spurt in economic activities. The GDP had grown 7.4% in the preceding year.

CMIE said that "We have been maintaining a 9.2% growth projection for FY11 since

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Mr GK Vasan asks for letter of commitment from Chennai Port

The Union ministry of shipping has asked the Chennai Port Trust to give a letter of commitment towards equity portion for the INR 600 crore Chennai Port to Ennore road connectivity project.

The ministry also said the project, which was conceived in 1998 will be completed in two years. Mr GK

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Harsco inducts two executives to its board of directors

Worldwide industrial services and engineered products company Harsco Corporation has announced the appointments of Mr David C Everitt of Deere & Company and Mr James M Loree of Stanley Black & Decker to the Harsco Board of Directors, effective November 1st 2010.

Mr Salvatore D Fazzolari

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Sponge iron price movement on Sep 21

Sponge iron


Location Change

Bellary -200

Kolkata 100

Raigarh 200

Raipur 400

Rourkela -100



Change is on 21st September as compared to 20th September 2010
Change is in INR per tonne

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Steel angle prices scenario on Sep 21

ANGL
GR A
65X6


Location Change

Ahmedabad 115

Bangalore 0

Chennai 0

Delhi 100

Indore 0

Kanpur 0

Kolkata 0

Mandi 104

Mumbai 229

Raipur 416

Rudrapur 0


Change is on 21st September as compared to 20th September 2010
Change is in INR per tonne

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Rays of recovery - VDMA doubles 2010 production forecast

Germany's key mechanical engineering industry association VDMA said that it was doubling its 2010 production forecast on the back of strong demand, in particular from the US and the world's leading emerging economies.

It added that it now expects output in 2010 to grow at 6% instead of

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Cut your project costs by optimizing steel purchases

Steel purchase is always a big ticket item in all projects and project managers and purchase in charge are normally looking to buy their steel requirements at correct market prices in time to meet their deadlines.

But, as the purchase managers are busy in sourcing too many items, many of

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PNTZ to commission new SMS in October

It is reported that Pervouralsky Novotrubny Works a subsidiary of one of the largest Russian pipe producers, ChTPZ Group will commission its new electro smelting facility in the coming month of October.

As SteelOrbis previously reported, the construction of PNTZ 950,000 tonnes capacity new

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Chinese domestic steel channel price movement on Sep 21

Channel
#16


Location In CNY In USD

Shanghai 0 0

Hangzhou 0 0

Nanjing 0 0

Jinan 0 0

Hefei 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 0 0

Changsha 0 0

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Shenyang 0 0

Harbin 0 0

Chongqing 0 0

Chengdu 0 0

Kunming -50 -7

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Average -2 0


Change is on 21st September as compared to 20th September 2010
Change is per tonne
USD:CNY = 6.71

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

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Sinopec Tahe branch refining capacity hit 5 million tonnes

It is reported that China Petroleum and Chemical Corporation Tahe branch put into operations its heavy crude oil modification project with an annual capacity of 3.5 million tonnes in Xinjiang province.

The project will boost the Tahe branch’s annual capacity to 5 million tonnes.

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Shagang updates price for late September

It is reported Shagang updated its steel prices for the last ten days of September on top of that for the middle ten days.

The construction steel prices yet including rebar, wire rod and coiled rebar are found kept in line.

The new policy is to be effective as of September

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US DOC determines AD and CVD margins for seamless pipes from China

US Department of Commerce announced on September 13th2010 in the Federal Register the final results of its antidumping duty and countervailing duty administrative review for certain seamless carbon and alloy steel standard, line and pressure pipe from China.

As a result of its

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Global Industries and Lamprell JV wins Dubai oil field contract

MEED reported that the contract to develop the newly discovered Dubai's Al Jalila oil field has been awarded by Dubai Petroleum Enterprise to JV of US based Global Industries Limited and the local Lamprell.

According to the terms of the contract, the JV is to carry out the engineering,

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Suez Steel investment to increase rebars and square billets capacities

Suez Iron & Steel Company announced that it has pumped new investments in the worth of approximately USD 700 million in order to increase its rebar and square billets capacities which are destined for export. The company is expected to start the second rolling mill in the coming month of

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Spanish Tubos Reunidos to supply seamless tubes to BHEL

It is reported that the seamless pipe plant of Tubos Reunidos at Amurrio, in northern Spain has signed a contract for EUR 50 million with Bharat Heavy Electricals Limited to provide different types of tubes for power generation boilers.

The delivery is expected to materialize during the

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NDRC issues new notice on power cut guidelines in China

China Securities Journal reported that National Development and Reform Commission of China lately issued an urgent notice about persistent effort in energy saving drive.

It asked all regions not to achieve the energy saving targets by adopting the improper vehicle of cutting or limiting

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Know spot prices for exports of Indian origin iron ore fines

With the impending gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as buyers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities.

This has galvanized

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Chinese domestic steel beam price update on Sep 20

Beam
#25


Location In CNY In USD

Shanghai -31 -5

Hangzhou 0 0

Nanjing -20 -3

Jinan -30 -4

Hefei -58 -9

Fuzhou -50 -7

Nanchang 0 0

Guangzhou 0 0

Changsha 0 0

Wuhan 0 0

Zhengzhou -30 -4

Beijing 0 0

Tianjin -10 -1

Shijiazhuang -40 -6

Taiyuan 0 0

Shenyang -22 -3

Harbin 0 0

Chongqing 0 0

Chengdu 0 0

Kunming 0 0

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Average -13 -2


Change is on 20th September as compared to 17th September 2010
Change is per tonne
USD:CNY = 6.71

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

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Drydocks World Dubai delivers third 3 D seismic vessels to Polarcus

Drydocks World Dubai has delivered the third 3-D seismic vessel, Polarcus Asima to its client Polarcus the leading marine geophysical company based in Dubai.

Polarcus Asima is the third in a series of 6 seismic vessels being built at the yard for Polarcus. The first 2 units, Nadia and Naila

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Sujana Universal completes due diligence for EBC Bearings

Sujana Universal Industries announced that it has completed the process of due diligence for acquiring EBC Bearings.

EBC, promoted by a Singapore based entity has set up a manufacturing facility in Hyderabad for the manufacture of medium and large sized bearings. This plant is yet to

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Enhance your experience - Tips to use SteelGuru services

Over last 4 ½ years, www.steelguru.com has undergone tremendous changes in terms of size, content, features and services. The site has improved not only the look and feel, but also back end design several times. Thus we have decided to publish a series of articles to explain to you the

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Taiwan steel prices to rise on cuts in Chinese production

The Taipei Times reported that affected by cuts in steel production in China, Taiwan's steel prices are likely to rebound after hitting bottom in the second quarter of 2010.

According to Taiwanese steel makers, steel production by China may decrease by 10% in September 2010 because China

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Sumitomo enters alliance for water infrastructure in China

Sumitomo Corporation and Sumitomo Corporation (China) Holding Limited agreed with Beijing Capital Co Limited and its wholly owned subsidiary Beijing Capital (Hong Kong) Co Limited to enter into an alliance for water infrastructure related business.

Following with the conclusion of the

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ABB wins 3 year maintenance partnership agreement in Oman Vale pellet plant

A new deal for ABB covers project planning, commissioning and long term maintenance management to maximize efficient operation at Vale’s iron ore and pellet plant and distribution centre in Oman. ABB Oman has signed 3 year maintenance agreement for Vale’s state of the art iron ore

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HPCL Bhatinda refinery IPO only after commissioning

Hindustan Petroleum Corporation will wait for the commissioning of its Bhatinda refinery in early 2011-12 before planning an initial public offering for its joint venture. The nine million tonne project, with a capital outlay of INR 19,000 crore, is a joint venture of HPCL and Mittal Energy

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Karnataka woos Chinese investment

Karnataka has started wooing Chinese investment and technology in a big way. This is evident from keen interest shown by the chief minister of the state, Mr BS Yeddyurappa in the new urban transport solution being created by that country in the form of an elevated high speed bus

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Essar Steel eying 25 million tonne global capacity - Mr Malay Mukherjee

A global steel producer putting up 14 million tonne capacity, Essar Steel aims to achieve a global capacity of 20 to 25 million tonne. In an interview with Ms Ishita Ayan Dutt of Business Standard, Mr Malay Mukherjee CEO of Essar Steel explains the importance of captive raw material resources

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Xinyu Iron and Steel lifts steel prices

China Xinyu Iron & Steel Group announced to increase the price for hot rolled coil high speed wire and rebar by CNY 100 per tonne, CNY 30 per tonne & CNY 50 per tonne respectively.

The company’s price of high speed wire of Q235 is about CNY 4,610 per tonne while the rebar price of

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Chinese domestic pig iron prices remain flat on Sep 16

Pig Iron
L08-L10


Location In CNY In USD

Anshan 0 0

Changzhou 0 0

Guiyang 0 0

Harbin 0 0

Kunming 0 0

Linyi 0 0

Taiyuan 0 0

Weihai 0 0

Wuan 0 0

Yicheng 0 0

Average 0 0


Change is on 16th September as compared to 15th September 2010
Change is per tonne
USD:CNY = 6.73

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

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Indian steel price index down by 4 points on Sep 16

The Indian Long Product Price Index ILPPI went down by 7 points on September 16th 2010 whereas Indian Flat Product Price Index IFPPI remained flat. The overall Indian Steel Price Index INDSPI went down by 4 points



Class 15-Sep 16-Sep Change %

ILPPI 7004 6997 -7 -0.1%

IFPPI 7777 7777 0 0.0%

INDSPI 7372 7368 -4 0.0%


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

Long Products


Category 15-Sep 16-Sep Change %

PI - TMT 6978 6957 -21 -0.3%

PI - WRC 7258 7262 4 0.1%

PI - Angle 6717 6715 -2 0.0%

PI - Channel 6733 6731 -2 0.0%

PI - Joist 6262 6262 0 0.0%


PI - Product Index

Flat Products


Category 15-Sep 16-Sep Change %

PI - Narrow Plates 7286 7286 0 0.0%

PI - Wide Plates 7714 7714 0 0.0%

PI - Hot Rolled 7482 7482 0 0.0%

PI - Cold Rolled 8693 8693 0 0.0%

PI - Galvanized 8361 8361 0 0.0%


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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Kobelco Cranes to form manufacturing JV in China

Kobelco Cranes Co Limited, a wholly owned subsidiary of Kobe Steel Limited, plans to manufacture crawler cranes in China.

Kobelco will form a JV with Chinese partner Sichuan Chengdu Chenggong Construction Machinery Co Limited in October. The JV to be called Chengdu Kobelco Cranes Co Limited

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Turkish steel scrap imports in 7 months up by 18pct YoY

According to the data provided by the Turkish Statistical Institute, in the first 7 months of this year Turkey's steel scrap imports rose 18.28% YoY reaching 10.04 million tonnes. The value of these imports amounted to USD 3.7 billion increasing by 73.06% as compared to the corresponding

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ABG Shipyard receives all India award for export excellence 2008-09

ABG Shipyard Ltd has announced that the company has been awarded with a 'Shield for Star Performer as Large Enterprise' in the product group of Miscellaneous Transport Equipment and Parts in recognition of Company's outstanding contribution to Engineering Exports during the year

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Diesel decontrol sensitive issue - Mr Sundareshan

Mr S Sundareshan oil secretary has said that interests of oil marketing firms alone is not reason enough to decontrol diesel prices, as doing away with the INR 1.71 a liter subsidy on the fuel would hit the common man.

He said that "There is a vast body against decontrolling the diesel

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ArcelorMittal to focus on smaller units in India - Mr Aditya Mittal

ET reported that facing delays in land acquisition and protests by tribals in India for its proposed units, top global steel producer ArcelorMittal has revised its strategy and will now focus on smaller plants with annual production capacities of 1.5 million tonnes to 3 million tonnes.

The

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Kremikovtzi second auction will draw buyers - Mr Bankov

Mr Tsvetan Bankov receiver of Kremikovtzi believes that the second auction of bankrupt steel giant Kremikovtzi, considered the pride of the communist era industry in Bulgaria, due in November 2010, will draw buyers and the assets will be sold.

Mr Bankov said that "I am certain that

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Steel angle prices update on Sep 15

ANGL
GR A
65X6


Location Change

Ahmedabad -229

Bangalore 0

Chennai 0

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai -229

Raipur 0

Rudrapur 0


Change is on 15th September as compared to 14th September 2010
Change is in INR per tonne

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GC steel HDG prices remain flat on Sep 15

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana 0

Mumbai 0

Rudrapur 0


Change is on 15th September as compared to 14th September 2010
Change is in INR per tonne

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ZALK to be nationalized - Prosecutor

Prosecutor General's Office of Ukraine keeps on trying to return ZALK, the only producer of prime aluminum in Ukraine, back into the state property, because its current owner, UC Rusal does not fulfill its investment commitments.

A suit has been submitted already in late 2009, the next in

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EC approves Metinvest acquisition of Ilyich

On September 15th, the European Commission has approved Ukrainian mining and metals group Metinvest BV to acquire local rival Ilyich Steel Mill.

As reported on August 18th Metinvest BV (Netherlands) obtained formal approval of Antimonopoly Committee of Ukraine for acquisition of newly

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Greece Hellenic Petroleum is looking for options in Turkey

Balkans reported that facing severe market contraction at home, Greece’s largest oil refining company Hellenic Petroleum is in search of growth opportunities in neighboring Turkey.

According to a statement made by Mr Tassos Giannitsis the spokesman for Hellenic Petroleum, the company

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Indian steel price index down further by 7 points

The Indian Long Product Price Index ILPPI went down by 4 points on September 15th 2010 whereas Indian Flat Product Price Index IFPPI went down by 11 points. The overall Indian Steel Price Index INDSPI went down by 7 points

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Use SteelGuru to improve traffic at your company website

www.steelguru.com attracted highest no of visitors in the month of August 2010.

The average daily page hit climbed to 139,074 up by 5.2% MoM and 96% YoY.

In total the page hits totalled 4.3 million in August. With this, www.steelguru.com continues to be the most popular English based

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Chinese domestic steel billet price movement on Sep 14

Billets
150*150
Q235


Location In CNY In USD

Fujian 21 3

Liaoyang 0 0

Linfen 0 0

Linzhou 0 0

Shandong 104 15

Tangshan -40 -6

Tianjin 0 0

Zibo 0 0

Average 11 2


Change is on 14th September as compared to 13th September 2010
Change is per tonne
USD:CNY = 6.74

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Chinese steel prices unlikely to see big rises - NDRC

The National Development & Reform Commission said that prices of steel products on the Chinese market are unlikely to rise by a great extent in the coming months but should see some modest increases.


The National Development & Reform Commission said that China's main industrial


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Steel plate cuttings price remain flat at Alang

Product Grade Size Change

Plate cuttings Rolling 1" 0

Ship Scrap Melting Mixed 100


Change is on 14th September as compared to 13th September 2010
Change is in INR per tonne

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Baosteel hikes HRC price by CNY 300 a tonne for October

It is reported that Baoshan Iron & Steel Co has raised October 2010 prices for its benchmark products for the first time in five months after production in the nation fell.

Baosteel said that the price for hot rolled coil will be increased by CNY 300 a tonne from a month ago and that of

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Chinese domestic steel plate price update on Sep 14

Plates
20mm
Common


Location In CNY In USD

Beijing -65 -10

Changsha 0 0

Chengdu 0 0

Chongqing 0 0

Fuzhou 0 0

Guangzhou 0 0

Hangzhou -30 -4

Harbin 0 0

Hefei 23 3

Jinan 0 0

Kunming 0 0

Lanzhou 0 0

Nanchang 0 0

Nanjing 0 0

Shanghai 55 8

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan -10 -1

Tianjin 0 0

Wuhan 0 0

Xian 0 0

Zhengzhou 0 0

Average -1 0


Change is on 14th September as compared to 13th September 2010
Change is per tonne
USD:CNY = 6.74

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Turkish energy ministry ameliorates mining license acquisition

According to recent modifications by the Energy Ministry on regulations concerning mining licenses, it will be harder for land speculators to meddle in the business. The new changes are expected to deter speculators who are derogatively referred to as bag bearers in the Turkish public opinion



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Dalmia Bharat gets investment from KKR

Dalmia Bharat Enterprises said it has received INR 500 crore investment from private equity firm KKR in Avnija manufacturer of Dalmia brand of cements.

In last May, Dalmia Cement and KKR had inked an agreement to invest INR 750 crore for use in both sequential and merger & acquisition based

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ABB India acquires Metsys Engineering

ABB India announced that it will acquire Metsys Engineering and Consultancy Pvt. Limited. The transaction is expected to be completed by the end of September.

Metsys Engineering and Consultancy, based in Bangalore, was started in the year 2006. Over the past three years it has developed


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India sets performance norms for power equipment making

The Indian government has put out performance norms for power equipment manufacturers, which are effective from August 20.

The new norms the Central Electricity Authority (Technical Standards for Construction of Electrical Plants and Electric Lines) Regulations 2010 are part of the demands

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Steel melting scrap price down in Kandla and Mandi

Melting scrap
80:20
HMS


Location Change

Chennai 0

Hyderabad 0

Kandla -350

Kanpur 0

Kolkata 0

Mandi -363

Mumbai 0

Rudrapur 0


Change is on 13th September as compared to 10th September 2010
Change is in INR per tonne

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Russia offers gas field access to proposed Ukrainian JV

Kommersant Ukraine reported that Russia made an offer to Ukraine to contribute several gas fields to a joint venture between Gazprom and Naftogaz Ukrainy.

A source with knowledge of the matter in Ukraine’s Fuel and Energy Ministry said that Russia is ready to allow Ukraine to pump gas

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Steel scrap prices in Russia grow by upto 50pct

Steel scrap gets expensive by rates a lot of sectors of economy could envy. Only in Q1 2010 the prices grew by 30% to 50% and by estimates of experts, growth of average price is expected by 8.5% in the next three years.

According to result of research of Creditinform information agency

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Sanctions on Iran put Indian Farsi gas field plans in limbo

ET reported that recently imposed stringent US and EU sanctions against Iran have jeopardized the USD 8 billion plan of 3 Indian state run oil companies to jointly develop the Farsi gas field as their consortium is finding it difficult to access technology and funding to execute the

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Suryachakra Power inks agreements with Flagsol GmbH

Suryachakra Power Corporation Ltd has announced that Suryachakra Power Venture Pvt Ltd the subsidiary of Suryachakra Power Corporation Ltd has entered into Shareholders and Share Subscription Agreements with Flagsol GmbH, Germany for setting up the grid connected Solar Thermal Power Projects,


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Steel Mart focuses on steel industry in north

Mr Virbhadra Singh union minister of steel during a CII Steel Mart conference in Chandigarh said that demand for steel in the northern region is growing at the rate of 10% to 12% a year, while steel produced is only 9% which is affecting the production and supply process.

Northern region is

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Would rebar price continue to surge in China

It is an undeniable fact that rebar price surged since this week opening in China only to retract a bit on day 3. However, some think that is only the result of capital speculation and cannot last long.

Optimistic market players however think that rebar prices will continue to rise in the

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Gammon Infra achieves financial closure of Patna Muzaffarpur highway project

Gammon Infrastructure Projects announced that Patna Highway Projects, its special purpose vehicle has achieved the financial closure of Patna to Muzaffarpur Highway Project for an aggregate loan amount of upto INR 8.46 billion.

The aforesaid closure is for implementing the project

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Chinese domestic galvanized steel HDG price movement on Sep 8

HDG
0.5mm


Location In CNY In USD

Shanghai 0 0

Hangzhou 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 92 14

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 0 0

Shenyang 0 0

Harbin 0 0

Chongqing 92 14

Xian 0 0

Boxing 113 17

Average 21 3


Change is on 8th September as compared to 7th September 2010
Change is per tonne
USD:CNY = 6.80

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

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BHEL forms JV with Kerala government

Bharat Heavy Electricals Ltd said that it is signing a joint venture agreement with Kerala government to acquire the Kasargod unit of KEL which manufactures alternators for railway applications and other industrial applications.

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Japan to reach economic partnership agreement with India

JMB quoted Mr Masayuki Naoshima Japan's minister of economy, trade and industry as saying that he agreed with Mr Anand Sharma minister of commerce & industry of India for effort to reach Economic Partnership Agreement.

Mr Naoshima indicated the talk progresses when Indian ministry offered

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Indian steel price surge seems to be loosing steam

The Indian Long Product Price Index ILPPI went up 7 by points on September 8th 2010 whereas Indian Flat Product Price Index IFPPI went up by 7 points. The overall Indian Steel Price Index INDSPI up by went up 8 points

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Egypt not to impose customs duties on Turkish steel imports

Arab Steel reported that International Conventions Sector of the Egyptian Ministry of Industry and Trade rejected demands from rebar producers to re impose 10% customs duties on imported rebar. The Sector sent a rejection note to the Industries Union informing it of the decision made regarding

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ADB wants to exit Petronet LNG

The Asian Development Bank wants to exit Petronet LNG Ltd and has offered to sell its 5.2% stake in the country’s largest liquefied natural gas importer to state owned oil firms IOC, ONGC, GAIL and BPCL.

A company official said that “ADB last month wrote to PLL Chairman and Oil

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IGCAR to develop advanced boiler for coal fired power plants

The Indira Gandhi Centre for Atomic Research in Kalpakkam has decided to design and develop a 800 MW advanced, ultra super critical boiler for use in coal fired power plants.

IGCAR has signed MoU with power equipment manufacturer BHEL and power generating company NTPC.

As per plans,

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JSW Steel inaugurates fifth JSW Shoppe in Andhra Pradesh

JSW Steel the leading private steel producer in the country inaugurated its 5th JSW Shoppe in Andhra Pradesh through their authorized dealer Godavari Steel.

Mr Sandeep Sandhu AVP marketing of JSW said that "The concept of the Shoppe originates from the fact that we want customers to get


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SteelGuru page hit count in August up by 96pct YoY

www.steelguru.com attracted highest no of visitors in the month of August 2010.

The average daily page hit climbed to 139,074 up by 5.2% MoM and 96% YoY.

In total the page hits totalled 4.3 million in August. With this, www.steelguru.com continues to be the most popular English based

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Japanese ferroalloy export to different countries in July

Japan Iron & Steel Federation has announced production figures of ferroalloy export to different countries in July 2010.

According to JISF data, Japan exported 13,946 tonnes of ferroalloy in July 2010, up by 95.5% MoM. Taiwan tops the list with 5,115 tonnes of ferroalloy, up by 101.7%

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Severstal reports H1 and Q2 2010 financial results

OAO Severstal one of the world leading integrated steel and mining companies announces its H1 and Q2 2010 financial results.

H1 2010



H1'10 H1'09 Change

Revenue 7,387 4,810 53.60%

EBITDA 1,447 -30 N/A

Profit /(loss) from operations 1,026 -426 N/A

Net (loss4)/profit -593 -946 -37.30%

EPS -0.59 -0.94 N/A


In USD million

H1 2010 highlight
1. Revenue increased by 53.6% to USD 7,387 million
2. EBITDA was USD 1,447 million
3. EBITDA margin of 19.6%
4. Net loss1 of USD 593 million
5. Profit/(loss) from continuing operations USD 470 million
6. Cash and Short-Term Deposits totaled USD 2,005 million as of the end of June 2010
7. Severstal International reduced its loss from operations to USD 139 million

Q2 2010



Q2'10 Q1'10 Change

Revenue 4,245 3,142 35.10%

EBITDA 955 492 94.10%

Profit /(loss) from operations 728 298 144.30%

Net (loss4)/profit 192 -785 N/A

EPS 0.19 -0.78 N/A


In USD million

Q2 2010 highlight
1. Strong increase in revenue over the previous quarter with EBITDA nearly doubling to USD 955 million.
2. Net Profit of USD 192 million;
3. Profit/(loss) from continuing operations USD 393 million
4. Revenue increased by 35.1% to USD 4,245 million
5. EBITDA increased by 94.1% to USD 955 million
6. EBITDA margin was 22.5%
7. Severstal International (North America):
I). Positive EBITDA of USD 59 million in Q2 2010;
II). Almost break-even with a USD 1 million loss from operations.

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Rebar TMT QST price movement in India on Sep 6

TMT
Fe 415
12mm


Location Change

Ahmedabad 500

Bangalore 800

Chennai 0

Delhi 0

Hyderabad 1500

Indore 200

Kanpur 800

Kolkata 0

Mandi 0

Mumbai 229

Raipur 0

Rudrapur 600

Muzzafarnagar 500


Change is on 6th September as compared to 3rd September 2010
Change is in INR per tonne

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Japanese electrical steel export to different countries in July

Japan Iron & Steel Federation has announced production figures of electrical sheet & strip export to different countries in July 2010.

According to JISF data, Japan exported 72,054 tonnes of electrical sheet & strip in July 2010, up by 91.5% MoM. China tops the list with 30,088 tonnes of

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SteelGuru continues to attract more visitors in August

www.steelguru.com attracted highest no of visitors in the month of August 2010.

The average daily page hit climbed to 139,074 up by 5.2% MoM and 96% YoY.

In total the page hits totalled 4.3 million in August. With this, www.steelguru.com continues to be the most popular English based

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Severstal TPZ Sheksna commissions welded tube line of SMS Meer

On June 4th 2010, Severstal TPZ Sheksna, Russia successfully commissioned the RD-410 welded tube line supplied by SMS Meer Germany.

Mr Anatoly Kruchinin CEO of Severstal Cherepovets during the commissioning said “The new line with an annual capacity of 300,000 t plays an important


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Japan suspends new energy investments in Iran

Bloomberg reported that Japan is suspending new oil and gas investments in Iran and freezing the assets of 88 organizations and 24 individuals in its latest round of sanctions for the Middle Eastern country’s nuclear program.

Mr Yoshito Sengoku chief cabinet secretary said that

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EVRAZ update on steel segment result

Evraz announces steel segment result



2010 2009 Change

Revenues 5,796 4,291 35.10%

Profit/(loss) from operations 1 -882 N/A

Adjusted EBITDA 738 389 89.70%


In USD million

Steel segment revenues increased by 35.1% to USD 5,796 million in the first six months of 2010 compared with USD 4,291 million in the first six months of 2009, a reflection of positive price dynamics for steel products and higher sales volumes.

The proportion of revenues attributable to sales of construction products increased as a result of a significant growth in the sales volumes and prices of construction products in Russia.

The proportion of revenues attributable to sales of railway products decreased despite an increase in the proportion of volumes, explained by the fact that prices of railway products, particularly rails in Russia, are relatively more stable and less affected by steel market price fluctuations.

The proportion of revenues attributable to sales of flat-rolled products increased in response to a significant advance in sales volumes across the Group’s North American, European and South African operations. The proportion of revenues attributable to sales of tubular products decreased primarily due to lower sales volumes and prices of large diameter pipes in North America despite a 12% growth in total sales volumes of tubular products.

The proportion of revenues attributable to sales of semi-finished products decreased largely due to a re-allocation of sales volumes by the Russian operations from export markets to the domestic construction sector. Steel segment sales to the mining segment amounted to USD 57 million in the first half of 2010 compared with USD 37 million a year earlier. The increase is attributable to higher sales prices and volumes.

Revenues from sales in Russia amounted to approximately 33% of steel segment revenues in the first six months of 2010, compared with 27% in the first six months of 2009. The increased share of revenues from sales in Russia resulted from the reallocation of steel volumes from Asian export markets to the Russian market.

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HPCL plans to set up a refinery in West Coast

State run Hindustan Petroleum Corp plans to invest about INR 15,000 crore in setting up a nine million tonne a year refinery on the west coast.

The new refinery, which may be in Raigad district of Maharashtra, is being mulled to make up for space constraint that its Mumbai refinery faces at

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PM to head council on tribal welfare

A national council headed by Dr Manmohan Singh prime minister of India has been constituted to provide broad policy guidelines for welfare of tribals and monitor schemes for their uplift.

The 18 member National Council for Tribal Welfare will comprise union ministers for tribal affairs,

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Chinese domestic steel industry outlook still hazy

China Daily quoted industry sources said despite the prospects of lower iron ore prices for the fourth quarter of this year, the overall outlook for domestic steel mills still remains hazy due to weak demand from downstream sectors.

According to estimates from major steel indexes, iron ore

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