Swiss logistic group plans expansion in India

Swiss logistic group M+R Spedag, which took over the Chennai based PL Shipping and Logistic, plans to expand its services in two areas air freight and project cargo.

There is a growth potential in both these areas and the company would be strengthening its network to take advantage of it.

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Indian long product price index jump by 66 points

The Indian Long Product Price Index ILPPI went up by 66 points on March 28th 2011 whereas Indian Flat Product Price Index IFPPI went down by 48 points. The overall Indian Steel Price Index INDSPI went up by 11 points

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Resource super profit tax - Australian opposition backs right to hike royalties

AAP reported that the opposition is backing the right of state governments to increase the royalties they collect from mining companies, even if the hikes are injudicious.

It has also warned that lofty expectations of a revenue bonanza from the Gillard government's planned minerals

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Philippines resolves 50pct of pending and inactive mining applications

It is reported that at least half of the total pending and inactive mining applications have been eliminated or resolved as part of reforms in the country's mining sector.

In a report to the Department of Environment and Natural Resources Secretary Mr Ramon Paje, Mines and Geosciences

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Shenhua Energy 2010 earnings up by 20pct

It is reported that China Shenhua Energy Company posted a 20.3% rise in 2010 net profits to CNY 38.13 billion.

Sales revenues in 2010 rose 25.3% to CNY 152.06 billion and basic earnings per share hit CNY 1.92. The company plans to distribute cash dividends of CNY 0.75 for every share

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PT Adaro aims to double coal production

Coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tonnes annually, almost double the 42.19 millions tonnes it produced throughout 2010.

Mr Priyadi Adaro general manager said that the planned boost in production is intended to support the

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Westgold Resources high grade gold copper extension at Rover 1

Westgold Resources has hit some more high grade gold copper at Rover 1 from an extension, which will help propel the Rover Field development, which is located near Tennant Creek.

Key impacts of recent drilling results:
1. Drilling completed during the last 6 months demonstrates substantial

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Japanese earthquake - Copper ends down on nuclear crisis

Commodity reported that copper ended settled flat as investors continued to weigh the economic impact from Japan's nuclear catastrophe and a worsening debt crisis in Europe.

China's physical metals market is still demonstrating no clear signs of aggressive restocking, which also helped

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Successful start to 2011 for aluminum semis producers in Germany

The German aluminum semis industry has made a dynamic start to 2011. The 34 German aluminum semis producers increased production significantly at the beginning of the year.

Mr Friedrich Brökelmann chairman of the Aluminum Semis division of Düsseldorf based Gesamtverband der

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Dacia plant production exceeds 4 million units - Report

The Dacia Company, under the patronage of French Group Renault, announced that the production of the Dacia plant at Mioveni (southern Romania) this week exceeded the threshold of 4 million cars.

A Dacia press release said that "The Dacia car number 4 million has been delivered this week to

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GC steel HDG price crashes in Kolkata

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi -885

Kanpur 0

Kolkata -1133

Ludhiana -181

Mumbai 0

Rudrapur 0


Change is on 28th March as compared to 25th March 2011
Change is in INR per tonne

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Japanese earthquake - Efforts continue to normalize steel operations

JMB reported that Japanese eastern parts of areas keep trying to rebuild community from the damage by the major earthquake.

It may be recalled that steel demand for the rebuilding will increase when many of the main roads resume the transport function. However, the steel plants in eastern

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Chung Hung Steel keeps prices unchanged for April shipment

Taiwan's major hot rolling mill Chung Hung Steel released latest prices for April 2011 delivery. The company decided to remain the prices unchanged.

In fact, market participants predicted that Chung Hung Steel would raise the prices by TWD 500 to TWD 1,000 per tonne for April 2011


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Japanese earthquake - JFE forecasts H1 sales to beat previous 6 months

Bloomberg reported that JFE Holdings Inc, Japan’s second largest steelmaker, expects sales in the first half starting April 1st 2011 will be higher than the previous six months, aided by reconstruction after the March 11th 2011 earthquake.

Mr Hiroshi Maki, an official at unit JFE

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Approved a new development strategy Trubodetal 2015

The Board of Directors of United Metallurgical Company has approved a medium term program of plant development Trubodetal in 2011 to 2015 years.

Key provisions of the program reveal strategically important areas of development Trubodetal in the medium term. The company plans to focus

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AMCU permits Severstal to buy over 25pct in Severstal Ukraine

It is reported that the Antimonopoly Committee of Ukraine has permitted Russia OJSC Severstal to acquire a stake in the statutory fund of Dnipropetrovsk based Severstal Ukraine Ltd which would give the buyer over 25% of the votes in the management body of the company.

Severstal Ukraine


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Sinopec 2010 net profit up by 13pct YoY

It is reported that China Petroleum and Chemical Corporation recorded a 12.8%YoY rise in 2010 net profit attributable to shareholders to CNY 70.71 billion with basic earnings per share of CNY 0.82.

Sales revenue increased 42.2%YoY to CNY 1.91 trillion.

According to the filing, Sinopec

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Geely Auto net profit surges 16pct YoY in 2010

China Knowledge reported that Geely Automobile Holdings Ltd one of the leading automakers in China net profit in 2010 surged 16%YoY driven by increasing demand in China automobile market.

The Hong Kong listed company said in a statement that it reaped CNY 1.37 billion in twelve months

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Breakthrough in Baosteel high grade bearing steel production

Baosteel Grade 3 bearing steel with three grades passed qualification certification of world famous bearing manufacturer SKF of Sweden. Its Grade3K high carbon and chromium bearing steel is of highest grade of its kind.

SKF formally awarded qualification certificate to Baosteel products

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Natural gas enters revival era

Hürriyet Daily reported that as natural gas prices bounce back after a heavy slump during past years experts have explained short and long term mechanisms behind future price increases.

Mr Mert Bilgin an energy expert and associate professor at Bahçeşehir University said that

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Samsung Engineering inks USD 3 billion contracts in Saudi Arabia

Samsung Engineering inked USD 2.76 billion contracts for the Shaybah NGL project at a signing ceremony held at Saudi Aramco headquarters in Dhahran. The ceremony was attended by key figures such as Mr Majid Yousif Mugla Saudi Aramco's ED of Project Management and Mr Park Ki Seok president and

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Chinese domestic steel rebar prices update on Mar 28

Rebar
20mm
HRB 400


Location In CNY In USD

Beijing 30 5

Changsha 40 6

Chengdu 20 3

Chongqing 20 3

Fuzhou 20 3

Guangzhou 30 5

Guiyang 50 8

Hangzhou 40 6

Harbin 0 0

Hefei 0 0

Jinan 10 2

Kunming 0 0

Lanzhou 20 3

Nanchang 30 5

Nanjing 0 0

Shanghai 0 0

Shenyang 20 3

Shijiazhuang 30 5

Taiyuan 40 6

Tianjin 40 6

Wuhan 0 0

Xian 30 5

Zhengzhou 50 8

Average 23 3


Change is on 28th March as compared to 25th March 2011
Change is per tonne
USD:CNY = 6.57

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Indian iron ore mining mess - Overloaded trucks on highways

DHNS reported that the Indian government has decided to impose a ban on the movement of overloaded vehicles on highways in the entire country, following complaints of road damage in Karnataka mainly due to the traffic of iron ore laden trucks.

The Union Ministry of Road Transport and

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Latest and updated directory of Indian steel makers

Indian Steelmakers Directory 2011” is one the top sources of information available on steel making companies in India!

This directory covers name and contact details of 953 Indian steelmakers

Indian Steelmakers Directory' is one of the most comprehensive and accurate directory

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JSW Steel launches color coated PPGI in West Bengal

JSW Steel has launched JSW Pragati a new range of color coated galvanized steel sheets in West Bengal.

JSW Pragati sheets will be available in 0.4 mm thickness in both environment green and brick red colors.

The new product will be available throughout West Bengal via its JSW Shoppe

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Surge in pencil ingot prices kindles hopes of revival in long prices

The pencil ingot prices in India have quietly taken an ascendant trajectory for the past 1 week. Although this upswing has largely gone unnoticed in the hullaballoo of holidays and prevalent pessimism it has given some reasons for the market to cheer up.

Although the revival might be flash

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FMG sees iron ore prices staying high through 2012

Australia's Fortescue Metals expects iron ore prices to remain high until at least 2012 before new supply enters the market from 2013 to 2015.

Fortescue also raised its total resource estimate to more than 10 billion tonnes on Wednesday, with the maiden resource statement for its Western

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Mr Palmer seeking more Chinese funding for Galilee mining

Resources entrepreneur Mr Clive Palmer said that he’s negotiating for Chinese debt-funding for an extra 10% to a total of 80% of the capital costs of his multi billion dollars Galilee Basin mega-mine project in Queensland.

He said that he’s aiming to secure Chinese commitments

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BHPB announces change in board

Mr Jac Nasser chairman of BHP Billiton announced that Mr Alan Boeckmann will retire from the board and Mr Lindsay Maxsted will be appointed as an independent non executive director, both effective as of March 24th 2011.

Mr Maxsted is chairman of infrastructure company Transurban Group and a

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Anglo and POSCO agree at USD 275 for PCI supplies in April quarter - Report

Independent Online, citing Goldman Sachs, reported that Anglo American had won 53% increase in contract prices for pulverized coal from South Korea’s POSCO after flooding in Australia curbed output.

Goldman analysts led by Mr Malcolm Southwood, citing reports from energy pricing

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Sumitomo Metals targets 50pct higher US Crankshaft output

Japan Metal Bulletin reported that Sumitomo Metal Industries' US subsidiary, International Crankshaft Inc increases the output and sales volume by 50% to annual 2.7 million units by 2013 to 2014 compared with 2010 level through matching capacity expansion.

The firm tries to optimize the

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Freeport sees improved copper demand

Reuters reported that the US economy is improving steadily and helping drive copper prices to historic highs.

Mr Richard Adkerson president and CEO of Freeport McMoRan Copper & Gold said that Global Mining and Steel Summit his company was ramping up production at some US mines it idled

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NALCO issues 12000 tonnes aluminum export tender

Reuters reported that India's state run National Aluminum Company Limited has issued a tender to export 12,000 tonnes of aluminum ingots.

A senior company official said that the last date for submission of bids is April 4th 2011. The metal would be supplied to the buyer in six batches of

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Norilsk Nickel performance of Transportation and Logistics Unit in 2010

OJSC MMC Norilsk Nickel has summarized the performance of Transport and Logistics Unit in 2010.

The Transport and Logistics Unit ensures the water, rail, truck and air transportation of all cargoes of the company. In 2010, the unit’s cargo turnover amounted to 2.5 million tonnes with

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Macquarie feels BlueScope blues over carbon tax

It is reported that BlueScope Steel chairman Mr Graham Kraehe's anguish was underlined in some research by Macquarie's economics group.

On Macquarie's calculations and assumptions, carbon costs will be close to 35% of BlueScope's 2010 EBITDA, about twice the effect on its nearest listed

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CMC announces Q2 2011 segment results

Americas Recycling
The Americas Recycling segment had an adjusted operating profit of USD 10.9 million (including pre tax LIFO expense of USD 6.9 million) compared to the prior year's second quarter adjusted operating loss of USD 6.8 million (including pre tax LIFO expense of USD 6.7

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TNK BP to up Verkhnechonskoye oil field investments 30pct in 2011

Interfax reported that TNK-BP will invest RUB 18 billion in the development of the Verkhnechonskoye oil field in Irkutsk Region this year, 29.6% more than the RUB 13.89 billion worth of capital investment the company made last year.

Mr Maxim Barsky deputy CEO of TNK-BP said after the

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China Oilfield net climbs 32pct as Cnooc expands exploration

Bloomberg reported that China Oilfield Services Ltd a unit of the nation largest offshore oil producer posted a 32% increase in profit as its biggest customer Cnooc Ltd expanded exploration to meet growing domestic demand.

The Beijing based company said in a statement net income rose to CNY

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Chinese domestic steel Angle price update on Mar 24

Angle
#5


Location In CNY In USD

Shanghai -30 -5

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 20 3

Beijing 0 0

Tianjin 30 5

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 1 0


Change is on 24th March as compared to 23rd March 2011
Change is per tonne
USD:CNY = 6.56

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Steel light channel price up in Chennai

CHNL
GR A
75/100


Location Change

Ahmedabad 0

Bangalore 0

Chennai 496

Delhi 0

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 115

Raipur 0

Rudrapur 0


Change is on 24th March as compared to 23rd March 2011
Change is in INR per tonne

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Chinese domestic steel wire rod price remain flat

WRC
6.5mm
Common


Location In CNY In USD

Changsha 0 0

Chengdu 0 0

Chongqing 0 0

Guiyang 0 0

Hangzhou 0 0

Harbin 0 0

Kunming 0 0

Nanchang 0 0

Nanjing 0 0

Shanghai 0 0

Shenyang 0 0

Shijiazhuang 0 0

Taiyuan 0 0

Tianjin 0 0

Wuhan 0 0

Zhengzhou 0 0

Average 0 0


Change is on 24th March as compared to 23rd March 2011
Change is per tonne
USD:CNY = 6.56

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 steel channel price update on Mar 24

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 40 6

Shijiazhuang 0 0

Taiyuan 0 0

Shenyang 0 0

Harbin -20 -3

Chongqing 0 0

Chengdu 0 0

Kunming 0 0

Xian 0 0

Lanzhou 0 0

Urumchi 0 0

Average 1 0


Change is on 24th March as compared to 23rd March 2011
Change is per tonne
USD:CNY = 6.56

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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Iraq sees oil output rise to 7 MBPD by 2014

Reuters reported that Iraq expects its oil output to more than double to 6.5 million barrels per day by 2014.

Mr Abdul Kareem Luaibi oil minister of Iraq said that government forecast output of 2.75 million barrels per day this year rising to 3.3 million barrels per day in 2012, 4.5 million


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MENA unrest - Mr Ezz accused of monopolizing steel market in Egypt

Almasryalyoum reported that in two reports submitted to Attorney General Mr Abdel Meguid Mahmoud, Mr Gawdat al Malt president of the Central Auditing Organization accused a prominent member of President Mr Hosni Mubarak's regime of monopolizing the steel market.

Mr Al Malt said that the

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Thermal power projects not to be affected by rate hike - Fitch

Credit ratings agency Fitch said that ratings of thermal power projects are not likely to be affected negatively by the hike in policy rates by the Reserve Bank. It added that even in case the rates are hiked by another 100 basis points the impact on the projects would be minimal.

The

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TATA steel launches Operation Smile at Jamshedpur

TATA Steel formally inaugurated the third consecutive mission of ‘Operation Smile’ at Jamshedpur. About 150 patients from across Jharkhand, Bihar, West Bengal, Orissa and Chhattisgarh will be treated during this nine day camp during March 17th to 25th 2011.

The camp was

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Vizag Port workers stage demonstration

Workers of Visakhapatnam port and dock staged a demonstration on Wednesday in protest against corporatisation of ports.

In a press release, the Visakhapatnam Port Employees' Union said the Union Ministry of Shipping had decided to corporatise major ports in the country, without the

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BHEL bags order worth INR 16 billion from PGCIL

Bharat Heavy Electricals has won a breakthrough order from Power Grid Corporation of India for 800 kV 6,000 MW HVDC multi-terminal system package associated with the NE/ER-N/WR Interconnector-1 project, in consortium with ABB, Sweden.

The order value for BHEL is INR 15.90 billion. This is

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Global refined copper sees deficit of 305000 tonnes in 2010 - ICSG

According to report of International Copper Study Group, the global refined copper supply was in a deficit of 305 thousand tons in 2010.

In fact, the global copper market showed a supply surplus of 175,000 tonnes in 2009. However as the demand for copper was out of the forecast the demand

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GP steel HDG prices remain flat on Mar 23

GP
100Gms
0.40


Location Change

Mumbai 0

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 0

Kanpur 0

Rudrapur 0

Bangalore 0


Change is on 23rd March as compared to 22nd March 2011
Change is in INR per tonne

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Mincor Resources to close Otter Juan nickel mine early

The West Australian reported that shares in Mincor Resources fell after it said a sudden and unexpected deterioration in ground conditions at its Otter Juan underground nickel mine in Kambalda was likely to cut its mine life short by one year.

The company said in a statement that “At

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US Steel CEO gets more than USD 8 million pay package in 2010

AP reported that the total compensation package for Mr John P Surma CEO of United States Steel Corporation rose to USD 8.3 million in 2010 after his stock awards and full salary were reinstated because of the steel manufacturer's improving business conditions.

According to an Associated

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Sponge iron prices jump in Bellary

Sponge iron


Location Change

Bellary 600

Kolkata 0

Raigarh 0

Raipur 0

Rourkela 100


Change is on 23rd March as compared to 22nd March 2011
Change is in INR per tonne

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Steel light channel price movement on Mar 23

CHNL
GR A
75/100


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore -200

Kanpur 0

Kolkata 0

Mandi 208

Mumbai -57

Raipur 0

Rudrapur 0


Change is on 23rd March as compared to 22nd March 2011
Change is in INR per tonne

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Prices drop in Vietnamese steel market

It is reported that, after a continuous price hike, the steel prices have dropped by VND 300,000 per tonne to VND 400,000 per tonne in Vietnam’s market.

Vietnam Steel has decreased the prices of wire and rebar by VND 400,000 per tonne averagely in the Southern market. Also, the major

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TATA Steel could be forced to leave UK if tax plans go ahead - MP

It is reported that steel giant TATA could be forced to leave the UK if plans to introduce a new super tax on heavy industries that are reliant on carbon based fuel get the go ahead later.

Chancellor George Osborne is expected to provide fresh details on how the coalition government will

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Russia could double oil supplies to Japan to 18 million tonnes in 2011 - Mr Sechin

Interfax citing Mr Igor Sechin Russian Deputy Prime Minister as saying that, Russia could double oil shipments to Japan to 18 million tonnes in 2011.

Mr Sechin said "We supplied 9.1 million tonnes

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Ukrainian steel pipe export volume up by 6pct MoM in Jan over Dec

It is reported that in January this year, Ukraine steel pipe exports increased by 6%MoM and by 176%YoY to 166,210 tonnes valued at USD 188.4 million.

Specifically, in January Ukraine exported 68,850 tonnes of seamless pipes up by 30%MoM of which 37,110 tonnes were delivered to Russia with

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China Oilfield Services 2010 earnings up by 32pct YoY

It is reported that China Oilfield Services posted a 31.7%YoY increase in 2010 net profit to CNY 4.13 billion despite a 1.6% drop in revenue to CNY 18 billion. Earnings per share were CNY 0.92.

The company plans to pay cash dividends of CNY 1.8 for every 10 shares held.


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Chinese oil demand offsets drop in OECD - Aramco

Reuters quoted Saudi Aramco as saying that rising oil demand from its largest crude buyer China will offset declining consumption elsewhere.

Mr Khalid Al Falih CEO of Aramco said that "I believe increased Chinese demand offsets declining consumption in the OECD nations. It is essential to

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DP World reports profits up on higher shipping volumes

UAE container ports operator DP World has reported strong full year profits citing an increase in the volume of cargo shipping and cost savings.

DP World revealed a 2010 full year net profit of USD 450 million compared with USD 333 million for the year before. In December, the firm sold 75%

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GC steel HDG price movement on Mar 23

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Ludhiana -91

Mumbai 0

Rudrapur 0


Change is on 23rd March as compared to 22nd March 2011
Change is in INR per tonne

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NTPC new unit starts commercial production

National Thermal Power Corporation's new 500 MW unit VII of Korba project started its commercial production on Monday.

Mr Ashutosh Nayak a spokesman of NTPC said that "The commercial operation declaration of the 500 MW unit-VII of NTPC's Korba project has been achieved on 21

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JSPL Orissa project under eco scanner again - Report

ET reported that the Indian ministry of environment and forests on Tuesday renewed its tough position on adherence to green rules by taking on Jindal Steel & Power Limited.

As per report, Mr Jairam Ramesh Indian environment minister has asked the Orissa government to take action against the

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Steel minister reviews performance of RINL

Mr Beni Prasad Verma union minister of state for steel (independent charge) reviewed the quarterly performance of Rashtriya Ispat Nigam Limited.

He asked RINL to explore the possibility of setting up a slag cement plant at Visakhapatnam, inviting partners of international

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Karnataka government will allot 1500 acre to ArcelorMittal

The Karnataka government said that it will allot 1,500 acres land to world's largest steel maker ArcelorMittal within a month to set up a 6 million tonne per annum steel plant.

Karnataka chief minister Mr BS Yeddyurappa told reporters that "Within one month, we will allot about 1,500

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Mine fire threatens nearby University of Minnesota research facilities

A fire deep underground in an abandoned mine on Minnesota's Iron Range continued to smolder Saturday, but there were tentative indications that it was gradually being starved of the oxygen it needs to keep burning.

The fire in the Soudan underground mine threatens both an expensive physics

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James River Coal commences offering of 6 million shares of common stock

James River Coal Company has announced that it intends to offer, subject to market conditions, six million shares of its common stock pursuant to its effective shelf registration statement filed with the Securities and Exchange Commission. The company expects to grant the underwriters a 30 day

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Fire extinguished at Soudan underground mine

Duluth News Tribune reported that it appears that a fire that had been burning inside the Soudan underground mine has been extinguished.

Ms Cynthia Sage, an information officer for the Minnesota Department of Natural Resources, said that after carbon monoxide levels in the mine were

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Indian copper up in futures trade on global cues

PTI reported that Indian copper regained strength as its prices rose by 0.35% to INR 429.35 per kilogram in futures trade tracking firming trend at the London Metal Exchange on speculations of shortfall in the metal globally.

At the Multi Commodity Exchange, copper futures prices for

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New Indonesian exploration block secured - Sumbagsel PSC

Cooper Energy has been awarded the Sumbagsel PSC in South Sumatra of Indonesia adding to the company’s exploration footprint in the highly prolific area.

The license was granted after the company participated in a direct bid tender round offered by the Indonesian Government. The block

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Resurgent aluminum output will cap upside - IAI

According to figures released this morning by the International Aluminium Institute, global aluminum production surged to an all time high of 116,180 tonnes per day in February.

Annualized production jumped by 2.15 million tonnes to 42.41 million tonnes last month eclipsing the previous

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Chinese domestic SBQ steel plate price remain flat

Plates
20mm
Ship Building Quality


Location In CNY In USD

Shanghai 0 0

Nanjing 0 0

Jinan 0 0

Fuzhou 0 0

Guangzhou 0 0

Wuhan 0 0

Tianjin 0 0

Ningbo 0 0

Average 0 0


Change is on 22nd March as compared to 21st March 2011
Change is per tonne
USD:CNY = 6.55

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Japanese earthquake - Reconstruction to push vanadium prices upward

It is analyzed that before the catastrophic earthquake and tsunami in Japan, the global steel demand for vanadium in 2011 was forecasted to be at 1.3 billion tonnes, which is a hike of 5.3% compared to that in previous year 2010.

However, it is predicted that Japan's reconstruction after

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ERW steel pipe price raises in US

It is reported that the prices of carbon electric resistance welding standard pipe have kept rising in the US market due to rising raw material costs. The prices are expected to increase about USD 50 to USD 100 per tonne in April 2011.

Moreover, the distributors reported that prices could

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March 2011 RMDAS ferrous prices stay level in US

According to pricing survey data from the Raw Material Data Aggregation Service compiled by Management Science Associates Pittsburgh, US domestic mill buyers of ferrous scrap in the United States were able to make purchases in March 2011 at price levels remarkably consistent with those made

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Japanese earthquake -Nippon Steel Tokyo area furnaces recover to pre quake levels

Nippon Steel Corporation said that output at the three blast furnaces at its mainstay plant in eastern Japan have recovered to pre earthquake levels.

Nippon Steel, the world's No 4 steelmaker, resumed operations at two blast furnaces near Tokyo and the remaining one later, after the

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Metinvest paid over UAH 11 billion as taxes and duties in 2010

In 2010, Metinvest a vertically integrated group of metals and mining companies has almost doubled its tax payments to the budgets of all levels. Total amount of taxes and duties paid by the Group exceeded UAH 11 billion compared to around UAH 6.5 billion in 2009.

In 2010, Ukrainian

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Anglesey associate LIM files technical report on iron ore projects

Anglesey Mining's 41% owned associate Labrador Iron Mines has filed a technical report for the ongoing exploration and development of its DSO iron ore projects on deposits in western Labrador and north-eastern Quebec.

The report has been prepared as a result of additional metallurgical

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Japanese earthquake - Australian thermal coal prices extend fall

Australian thermal coal prices weakened further in the week ending on March 17th 2011 as the aftermath of Japan's deadly earthquake which shut several coal fired plants drove prices down.

Thermal coal on the globalCOAL Newcastle index for the week to date was AUD 125.39 per tonne on

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Japanese earthquake - Cameco closes at 6 month low

Reuters reported that shares of uranium producer Cameco closed at a 6 month low due to rising concerns over an earthquake shattered nuclear power plant in northeastern Japan and as governments from Australia to the United States advised citizens to leave the region.

Cameco's stock has

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EADS and Airbus sign aluminum procurement contract with SWA

Airbus and its parent company EADS have signed a procurement frame contract with Southwest Aluminum Company Limited one of the largest aluminium product producers in China for the manufacture and supply of aluminium plate.

EADS’ sourcing strategy aims to develop a truly global supply

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KVA Stainless introduces new stainless frame MS2

Already proven and tested by KVA Stainless in other industries, notably automotive, the patented KVA's stainless steel structural tubing can now be integrated into high performance bicycle frames. Cyclists should expect excellent ride characteristics, reduced weight, increase strength

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Friedman Industries Inc announces quarterly cash dividend

The board of directors of Friedman Industries Incorporated has declared on March 18th 2011 a quarterly cash dividend of USD 0.11 per share on the common stock of the company.

The company will pay the cash dividend on May 13th 2011 to shareholders of record at the close of business on April


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USW negotiating committee approves agreement with RG Steel

The United Steelworkers said that its negotiating committee has reviewed and unanimously approved the tentative agreement the union announced last week with RG Steel, which has entered a stock purchase agreement with Severstal covering about 6,000 USW represented workers.

The union is

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Ukraine pig iron exports drop by 35pct YoY in Jan from Dec levels

It is reported that in January 2011, Ukraine pig iron exports went up by 28%YoY but decreased by 35%YoY amounting to 108,130 tonnes valued at USD 45.8 million.

Accordingly, 57,640 tonnes of Ukraine pig iron exports in January this year were delivered to Turkey, 47,380 tonnes were shipped to

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Changan to complete acquisition of Jinan Qingqi Motorcycle

China Knowledge reported that Changan Automobile Group, the parent of Chongqing Changan Automobile Co Ltd will complete its acquisition of controlling stake in Jinan Qingqi Motorcycle Co, one of China largest motorcycle manufacturers if all things goes smoothly.

Changan Automobile will

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IPIC raises USD 4 billion to fund acquisition of CEPSA

Abu Dhabi’s International Petroleum Investment Company which recently raised USD 4.4 billion from the inaugural Tri Tranche said it will use the money to finance the acquisition of 48.8% shares of France’s Total SAs in Spain’s second biggest oil company Compañía

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Mumbai auto drivers threaten stir for pipeline

Autorickshaw unions in Mumbai have threatened to go on a mass agitation this month end if Mahanagar Gas Limited ignores their demand for a parallel stand by CNG pipeline to Mumbai.

The CNG supply to Mumbai was completely cut off when the main pipeline developed a fault at Chembur. As a

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Reliance Power gets 5 hydel projects in Himachal Pradesh

Corporate giants like Reliance Power and TATA Power-SN Power joint venture have been allotted hydropower projects in Himachal Pradesh.

Official sources said that however, other companies like Larsen and Toubro, Essar Power, Moser Baer and GVK Energy did not get any project.

An official

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NMDC finalizes blast furnace and sinter plant packages

BL reported that NMDC Ltd has finalized two of the nine packages identified as critical for the construction of the 3 million tonne integrated steel plant it proposes to set up in Chhattisgarh.

1. Blast furnace - INR 1,731 crore
Daneilli Corus and TATA Projects Ltd

2. Sinter plant -

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CNPC overseas oil output up by 30pct YoY

It is reported that China National Petroleum Corporation posted a 30.5%YoY increase in overseas crude oil output to 14.38 million tonnes in the first two months.

CNPC overseas natural gas output increased 36.7%YoY to 2.72 billion cubic meters during the same period. The daily average output

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TAQA announces Q4 and full year financial results 2010

Abu Dhabi National Energy Company PJSC reported its Q4 and Full Year 2010 financial results.

The positive commodity pricing environment combined with increased power production delivered 27% YoY increase in revenues. Cost of sales benefited by AED 416 million from the reversal of a previous

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Japanese earthquake - Gulf crude exports to Japan suspended

Trade Arabia reported that oil exports to Japan from the Gulf region have been temporarily halted after an earthquake struck the world's third largest oil consumer though order volumes are unchanged.

Gulf officials said that ports in northeastern Japan were damaged and could be closed for

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CBA Act provides for assessment on acquisition of land

The CBA Act provides for assessment of compensation on the basis of the market value on the date of notification under section of the said Act and it is determined by taking into account the average of the last three years registered sale deeds in the locality and also the ready reckoner rate

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Orissa still indecisive on coal transport by GMDC

Even as the Gujarat Mineral Development Corporation Ltd has intensified its efforts to transport coal from the Naini coal block in Orissa to end-use power plants of Adani Enterprise Ltd and Torrent Power Ltd in Gujarat, the Orissa government is yet to take any decision on the matter.

GMDC

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Vale considering listing shares In Shanghai

Dow Jones reported that Brazilian miner Vale SA may become one of the first Brazilian companies to be listed on the Shanghai Stock Exchange.

Mr Jorge Luiz Pacheco of the corporate governance section of Banco do Brasil's pension fund Previ and Vale board member said that the company is

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Indian copper futures marginally up on global cues

ET reported that in restricted activity, copper futures prices rose by 0.20% to INR 422.50 per kilogram as speculators enlarged their positions amid a slightly better trend at the London Metal Exchange.

At the Multi Commodity Exchange, copper futures prices for delivery in April rose by 85

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MENA unrest - Alba operating at full capacity

Reuters reported that Aluminum Bahrain is in full operation despite protests on the Gulf island kingdom where the government has declared martial law.

Aluminum Bahrain is operating at full capacity and remains unaffected by the current situation in the kingdom.

The company hasn't

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Japanese earthquake - Copper slide tempered by reconstruction talk

WSJ reported that copper prices avoided the brunt of Tuesday's commodity selloff as traders looked beyond the imminent nuclear reactor crisis to Japan's reconstruction.

Mr Charles Nedoss senior market strategist at Olympus Futures said that "Copper is the first thing they'll need to

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Ferro manganese prices present weak in China market

It is reported that the prices of ferromanganese have showed weak recently in China’s market.

At present, the prices of 65C7.0 high carbon ferromanganese were at CNY 7,800 per tonne to CNY 8,000 per tonne in northern China while it was offered at CNY 7,600 per tonne to CNY 7,800 per

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Hutchison Port prices Singapore IPO at USD 1 a unit

Reuters reported that Hong Kong billionaire Mr Li Ka shing's Hutchison Port Holdings Trust has priced its Singapore initial public offering at USD 1.01 per unit, raising USD 5.5 billion.

The offering, the largest in Southeast Asia and the biggest in Asia so far this year, was priced at the

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GP steel HDG price crashes in Mumbai

GP
100Gms
0.40


Location Change

Mumbai -1090

Chennai 0

Kolkata 0

Delhi 0

Ludhiana 0

Kanpur 0

Rudrapur 0

Bangalore 0


Change is on 17th March as compared to 16th March 2011
Change is in INR per tonne

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Japanese earthquake - Global supply chain rattled by Japan quake and tsunami

Reuters reported that global companies from semiconductor makers to shipbuilders faced disruptions to operations after the earthquake and tsunami in Japan destroyed vital infrastructure and knocked out factories supplying everything from high-tech components to steel.

Thousands of people

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Japanese earthquake - Sumitomo Metal has no plan to declare force majeure

Sumitomo Metal Industries Limited, Japan's third-biggest steelmaker, said that it had no plan to declare force majeure on input deliveries.

The company has suspended operations of the two giant blast furnaces at its mainstay Kashima plant in Ibaraki prefecture after the quake and

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Japanese black sheet exports at USD 950 FOB for Asian deals

TEX reported that Japanese integrated steelmakers have won an increased price level of USD 900 to USD 950 per tonne FOB in negotiations on their export deals of black sheets (the substrate for galvanized sheets) for April 2o11 shipments to Asian destinations.

In the negotiations, the

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Ukraine February steel production declines by 7pct MoM

It is reported that in February, steel output in Ukraine fell by 7%MoM largely due to the breakup in Enakievo Steelworks and fewer work days in February. ALMK has been the growth leader with 11% steel output increase.

According to Millennium Capital analyst” The news is MIXED for the

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Steel angle price up in Mumbai

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 0

Rudrapur 0


Change is on 17th March as compared to 16th March 2011
Change is in INR per tonne

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Chuantou Energy to issue CNY 2 billion convertible bonds

It is reported that Sichuan Chuantou Energy plans to issue CNY 2.1 billion worth of convertible bonds in an attempt to inject capital into Ertan Hydroelectric Power Plant. Proceeds will supplement capital equipment of the power plant’s silk screens.

Bond holders could exercise the

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Chinese domestic HR steel prices update on Mar 17

HRC
4.75mm
Common


Location In CNY In USD

Beijing 70 11

Changsha 20 3

Chengdu 40 6

Chongqing 50 8

Fuzhou 60 9

Guangzhou 50 8

Hangzhou 90 14

Harbin 50 8

Hefei 30 5

Jinan 50 8

Kunming 0 0

Lanzhou 50 8

Nanchang 50 8

Nanjing 50 8

Shanghai 70 11

Shenyang 120 18

Shijiazhuang 50 8

Taiyuan 50 8

Tianjin 40 6

Urumchi 0 0

Wuhan 60 9

Xian 80 12

Zhengzhou 70 11

Average 52 8



Change is on 17th March as compared to 16th March 2011
Change is per tonne
USD:CNY = 6.58

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Fujairah oil storage facilities to double

Gulf News reported that the UAE plans to double fuel oil storage facilities by 2012 at Fujairah, combining with a new crude pipeline to create an alternative energy export hub outside the Strait of Hormuz.

Mr Mohammad Saeed Al Kindi MD of Fujairah Petroleum Products at a conference said

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Aswan steel plant to reopen after years of monopoly

The Daily News Egypt reported that Aswan Governor Moustafa El-Sayed has ordered the reopening of a steel production plant in the governorate after a 12 year closure.

El-Sayed attributed the plant’s closure to the prevailing anti competitive practices in the sector of the time, which

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Chinese domestic galvanized steel HDG price update on Mar 17

HDG
0.5mm


Location In CNY In USD

Shanghai 30 5

Hangzhou 0 0

Fuzhou 0 0

Nanchang 0 0

Guangzhou 50 8

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 20 3

Shenyang 0 0

Harbin 0 0

Chongqing 0 0

Xian 0 0

Boxing 30 5

Average 9 1



Change is on 17th March as compared to 16th March 2011
Change is per tonne
USD:CNY = 6.58

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 Railway revenue earnings up by 10pct in early March

The total approximate earnings of Indian Railways on originating basis during the period from March 1st to 10th 2011 were INR 2880.14 crore compared to INR 2605.05 crore during the same period last year, registering an increase of 10.56%.

The total goods earnings have gone up from INR.

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PGCIL update on transmission network grid

Power Grid Corporation of India Limited has already inter connected all the five Regional Grids of the country and established power transmission network National Grid with total inter-regional power transfer capacity of about 22,400 MW.

Development & strengthening of National Grid is a

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Naftohaz Ukrainy posts UAH 22 billion loss for Q4

Ukrainian News Agency reported that the Naftohaz Ukrainy national oil and gas company finished the October-December 2010 period with losses of UAH 22,111.555 million.

In the fourth quarter of 2010, Naftohaz Ukrainy increased its net revenues by 40.1% or UAH 9,032.107 million to UAH 31,575.3

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Natural gas output in China up by 5pct YoY

According to the National Bureau of Statistics, natural gas output nationwide increased 5.5%YoY to 33.72 million tonnes in the first two months.

Natural gas output in February increased 5.3%YoY to 15.91 million tonnes. National power generation totaled 6.77 tWh in the first two months up by

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Maersk Oil to develop Al Shaheen

Bloomberg reported that Maersk Oil Qatar will devise a plan this year to extend the life of the Arabian Gulf country's largest oil field after completing USD 6.2 billion project to boost its production.

Mr Lewis Affleck MD of Maersk said that the company is studying Al Shaheen and will

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Kardemir starts producing first batch of rail order for Middle East

Turkish long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS has announced that it has received a letter of credit for payment of the first batch of a steel rail export order totaling 170,000 tonnes for the Middle East to be supplied within one year.

Kardemir stated that

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ASSOCHAM reaction on the Index of Industrial Production

Considerable fall in the capital goods production persisted in January as well (-18.6%during the month).

The ASSOCHAM has been highlighting this issue for some time and looking forward to seeing corrective measures from the policy makers.

Mr Dilip Modi, President ASSOCHAM suggested that

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PFC to set up subsidiary for renewable energy sector

Power Finance Corporation, a Navratna public sector lender is in the process of creating a wholly owned subsidiary for the renewable energy sector, in a couple of weeks to be called PFC Green Energy Ltd.

Mr MK Goel director commercial of PFC told reporters that this sector required

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Environment ministry tells Nirma to stop work on cement plant in Gujarat

The Environment Ministry has asked detergent major Nirma Ltd to stop work in its cement and captive power plant being set up in Gujarat after it was found out that the proposed plant was affecting the water body on the project site.

The ministry issued the show cause notice under Section 5

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Would Japanese tsunami aggravate steel price volatility

In addition to gamut of factors adding fuel to the steel price volatility, damage to facilities of Japanese steel majors would probably add another dimension to the global steel price scenario.

Although, the extant of damage is not yet known, it is likely that raw materials like iron ore

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Rising coking coal contracts worry Indian steelmakers

BS reported that India's domestic steel companies may face immense margin pressure if coking coal contracts are sealed at USD 330 a tonne for the April quarter, an increase of 47% over the last.

Reports indicated that resource major, Anglo American, had struck a deal with Japanese steel

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Obtala Resources takes 50pct stake in Bushveld Resources

Obtala Resources Ltd announced the acquisition of an interest in a 2 billion tonne magnetite hosted iron ore deposit in South Africa along with a fund raising of GBP 6 million.

It has agreed to acquire a 50% stake in Bushveld Resources Limited from Mineral Wealth International for USD 11.5

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No illegal corundum mining in Chhattisgarh - Mr Raman Singh

Sify reported that the Chhattisgarh government has not received any complaint of illegal mining of corundum found in leftist insurgency-hit forested pockets in the state.

Mr Raman Singh CM of Chhattisgarh said that the government had not received a single complaint of illegal mining of

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Xstrata Copper and Goldcorp enter LoI with Yamana Gold

Xstrata Copper and Goldcorp Inc have entered into a Letter of Intent with Yamana Gold Inc that grants Minera Alumbrera an exclusive option with respect to Yamana’s 100% interest in the Agua Rica copper gold project in Catamarca province in northwest Argentina. The transaction remains


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HR steel prices fall in Delhi and Ludhiana

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -442

Indore 0

Kolkata 635

Ludhiana -181

Mumbai 0


Change is on 8th March as compared to 7th March 2011
Change is in INR per tonne

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GC steel HDG price movement on Mar 8

GC
100Gms
0.40


Location Change

Bangalore 0

Chennai 0

Delhi 0

Kanpur 0

Kolkata 174

Ludhiana 181

Mumbai 0

Rudrapur 0


Change is on 8th March as compared to 7th March 2011
Change is in INR per tonne

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Vedanta Aluminum needs 1 million tonnes coal in 2011

Reuters reported that India's Vedanta Aluminum needs to import around 1 million tonnes of thermal coal in 2011 for its new independent power plant in Orissa.

An official responsible for coal buying said that Vedanta's new 2,400 MW power plant which supplies power to its aluminum plant is


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Codelco sees tight supply and demand balance for copper

Reuters reported that the supply and demand balance for copper will remain tight through 2011 and likely into 2012 though volatility is possible due to Chinese efforts to control inflation.

Mr Diego Hernandez CEO of Codelco said on the sidelines of the Prospectors and Developers Conference

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San Miguel and Ayala eyeing stake in Metro Rail Transit 3 project

Manila Standard Today reported that conglomerates San Miguel Corporation and Ayala Corporation may challenge Metro Pacific Investments Corporation in acquiring the government’s stake in the Metro Rail Transit 3 project.

Mr Ruben Reinoso Jr transportation undersecretary of Philippines


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South Korean HRC exports in January totaled 450000 tonnes

It is reported that South Korea exported 450,000 tonnes of hot rolled coils in January 2011.

Among them, 71,000 tonnes were exported to Japan, up by 28.8% YoY; 83,000 tonnes were to Vietnam, soared sharply by 95.4% YoY.

However, the country's import volume of HRC in January 2011 dropped

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Metallix contracts Tenova Core for roller hearth furnace

Tenova Core has recently been contracted by Metallix Refining Inc to design and supply a custom roller hearth type furnace. The furnace will be installed as part of the precious metal recovery process at Metallix's Greenville refinery.

The controlled atmosphere furnace will feature a state

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Metalloinvest Mikhailovsky GOK wins Russian government award

Mikhailovsky GOK, a subsidiary of Metalloinvest Holding, won the Russian government award in science and technology, as announced in the decree of the Prime Minister Vladimir Putin #285-p dated February 25th 2011.

Mikhailovsky GOK received the award for development and implementation of the

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FAW Group targets 10pct sales growth this year

China Knowledge citing Mr Xu Jianyi Chairman of FAW Group, one of the top three automakers in China as saying that the company aims to sell 10% more vehicles this year.

The sales growth target was much lower than the 31.6% surge in the firm auto sales in 2010. Last year, the group auto

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Jiangsu Coastal Iron and Steel Group founded formally

According to Lianyungang Economic and Information Technology Commission that Jiangsu Coastal Iron and Steel Group was officially established in this city lately.

This new group contains Lianyungang Xinxing Steel Co Ltd, Jiangsu Binxin Special Steel Co Ltd, Jiangsu Hongtai Steel Co Ltd,

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Chinese steel prices debacle accelerates in week 10

The opening of week 10 was inauspicious for the Chinese steel market as the month long decline gained momentum across all products putting to rest any hope of early revival in the season. Nearly 1% drop within 4 days personified the dilapidated market conditions .Demand refused to pick up from

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Masdar nets USD 615 million for solar power plant

Reuters reported that Green energy firm Masdar got USD 615 million of banks financing for the world's largest concentrated solar power plant and USD 153 million equity from its Spanish and French partners.

Bankers involved in the transaction said that eight foreign banks and two local

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Bina refinery costs rise by 20pct

Soaring raw material prices have raised the cost of Bharat Petroleum Corporation's new refinery at Bina by 20%, but the new unit will deliver impressive refining margins of USD 11 a barrel, more than double the margin of its other units in recent months.

Mr SK Joshi director for finance of

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Chinese domestic galvanized steel HDG price update on Mar 8

HDG
0.5mm


Location In CNY In USD

Shanghai 0 0

Hangzhou -30 -5

Fuzhou 0 0

Nanchang -100 -15

Guangzhou 0 0

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 0 0

Shenyang 0 0

Harbin 0 0

Chongqing 0 0

Xian 0 0

Boxing 0 0

Average -9 -1


Change is on 8th March as compared to 7th March 2011
Change is per tonne
USD:CNY = 6.57

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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Steel angle price down in Indore

ANGL
GR A
65X6


Location Change

Ahmedabad 0

Bangalore 0

Chennai 221

Delhi 0

Indore -200

Kanpur 0

Kolkata 312

Mandi 0

Mumbai 229

Raipur 0

Rudrapur 0


Change is on 8th March as compared to 7th March 2011
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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Orissa to verify legality of Powmex steel unit lock out

A day after a private steel unit declared lock out of the factory following the burning of its senior manager, Orissa government said it would verify the action taken by the authorities.

Orissa's labour and employment minister Mr Pushpendra Singhdeo said that "We are verifying whether

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GMS weekly report on India ship breaking industry for WEEK 9

The annual Indian budget for fiscal year 2011 - 2012 was announced last week with an overall minimal impact on import duty for scrap ships. Many buyers had been lying low (as is customary at this time of year) in anticipation of potential budgetary cutbacks that could have delivered a downward

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Indian steel majors go for marginal price hike

BL reported that some of the Indian steel makers have limited the hike in prices to INR 350 to INR 500 a tonne due to uncertainty in demand post budget.

An analyst said that there is uncertainty in the demand from the infrastructure and housing sectors due to rising cost of funds. High

http://www.steelguru.com/indian_news/Indian_steel_majors_go_for_marginal_price_hike/194865.html

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Rail connectivity between West Bengal and Tripura via Bangladesh

Mr KH Muniyappa Minister of State for Railways informed the Lok Sabha that in order to facilitate rail connectivity between West Bengal and Tripura via Bangladesh, Government of India is financing the construction of a railway line on the missing link between Akhaura (Bangladesh) and Agartala

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NPCIL to announce new rehab package for Jaitapur nuclear plant

In the face of opposition to the proposed 6,000 MW Jaitapur nuclear power in Maharashtra, the Nuclear Power Corporation of India said it will soon announce a new rehabilitation package for land losers at the site.

Mr SK Jain CMD of NPCIL said that "We have improved the rehabilitation

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Bellzone mining announces USD 133 million share placement

Bellzone Mining a West Africa-focused iron ore company said that it has raised USD 133 million in a share placing, exceeding the planned USD 100 million due to strong institutional demand.

The placing was priced at 80 pence a share, 1.9 percent higher than the firm's closing share price on

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Colombian coal firms shipped 15pct of output to Asia in 2010

Reuters reported that Colombia's largest coal exporters, Cerrejon and Drummond, shipped 15% of production to energy hungry Asian nations in 2010.

Colombia, among the world's top producers of high quality thermal coal and the No 5 coal exporter, saw a dramatic increase in exports to China

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Strzelecki Metals secures exploration rights to Polish molybdenum copper deposit

Strzelecki Metals announced the signing of JV agreement among Strzelecki Metals, Strzelecki Metals' subsidiary Slasko Krakowska Kompania Gornictwa Metali Sp z o.o and Electrum Strategic Metals III LLC whereby Electrum assumes the rights and obligations of United Moly pursuant to the MOU

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US growth not enough for Alcoa restarts - Mr Klaus Kleinfeld

Reuters reported that US industrial demand for aluminum is growing steadily but is not strong enough for Alcoa Inc to bring back more production capacity idled after the recession.

Mr Klaus Kleinfeld CEO of Alcoa said that the commercial construction industry in the United States and Europe

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KGHM sets out copper expansion plans

Reuters reported that KGHM of Poland aims to become one of the world's top 5 producers by 2018 and is considering a dual share listing to help fund foreign expansion plans.

Hoping to continue to benefit from the surge in metal prices, the state controlled Polish miner wants to raise its

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European contract price of ferrochrome set to rise in Q2

Reuters reported that the European contract price of ferrochrome is set to rise in the second quarter, but is unlikely to be sustainable because consumers will start substituting with stainless steel scrap.

Traders said that ferrochrome prices are likely to be driven higher due to improving


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US weekly raw steel production up by 7pct YoY

American Iron & Steel Industries reported that, in the week ending February 26th 2011, US domestic raw steel production was 1.841 million tons while the capability utilization rate was 75.3%. Production was 1.720 million tons in the week ending February 26th 2010, while the capability

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BYD and Daimler secure approval for EV venture

China Knowledge reported that BYD Co, China largest rechargeable battery maker and a well known automobile producer and Daimler AG, a Germany based luxury car maker have secured approval from the Market Supervision Administration of Shenzhen to set up a joint venture in China.

The source

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Daye Special Steel profit surges 69pct in 2010

China Knowledge reported that Daye Special Steel Co Ltd which is principally engaged in steel smelting, steel rolling, metal remanufacture, the processing and the inspection of steel materials has posted CNY 562 million net profit for 2010, 68.84% more than that of 2009.

Earnings per share

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Libyan oil sites undamaged - Mr Shokri Ghanem

Reuters cited Mr Shokri Ghanem chairman of Libya's National Oil Corporation said as saying that Libya's oil installations are undamaged and a cut in the country's oil output was caused by the departure of oil workers.

Mr Ghanem said that NOC was still overseeing Libya's oil production

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Qatar Steel holding traders annual meeting in Dubai

Qatar Steel, the leading manufacturer of reinforced steel bars and steel coils since 1978 is to hold its eighth annual traders gathering at Raffles Dubai Hotel.

The main aim of the gathering held outside the country for the first time is to enhance cooperation between the company and its

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Budget update - 50pct infrastructure projects delayed

Economic Survey for fiscal 2010-11 said that progress on key infrastructure projects, especially roads, power and railways, has not been satisfactory as more than half the central projects have been delayed, resulting in high costs.

The survey tabled in the Lok Sabha by Finance Minister

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Double threat to Europe rare earth supply - MMTA

Reuters reported that Europe's supply of rare earth elements and minor metals is being squeezed by China's grip on these vital resources as well as by stringent EU legislation.

A main member of the Minor Metals Trade Association said that China produces about 97% of the global supply of

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Europe copper premiums steady on slow demand

Reuters reported that European premiums for physical copper steadied this week on slow demand and easy availability but there were expectations levels could rise in the Q2 if the recent dip lures back Chinese buyers.

Traders said that the premium for grade A copper in Rotterdam paid above

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A Vanadium resource in Nevada may be a key to US success

US President Mr Obama told the Winning the Future Forum on Small Business in Cleveland that "Vanadium redox fuel cells. That is one of the coolest thing I've ever said out loud."

The event was a brainstorming forum aimed at providing the Obama Administration with feedback from small

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Sumitomo Corp to provide monetary donation to earthquake hit New Zealand

Sumitomo Corporation has announced that it and Sumitomo Australia Pty Limited will provide monetary donation to the amount of NZD 100,000 toward relief efforts in earthquake hit City of Christchurch, New Zealand.

Sumitomo officials said that "We would like to express our deepest sympathy

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Steel angle prices down in Delhi

ANGL
GR A
65X6


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -200

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0


Change is on 1st March as compared to 28th February 2011
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)

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Steel joist I Beam prices scenario in major places on Mar 1

JSTI
GR A
250X125


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi -200

Indore 0

Kanpur 0

Kolkata 0

Mandi 0

Mumbai 0

Raipur 0

Rudrapur 0


Change is on 1st March as compared to 28th February 2011
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

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

(Sourced from www.steelprices-india.com)

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BCSA looking forward to a recovery starting in 2012 - Report

British Constructional Steelwork Association members are looking forward to a recovery starting in 2012 after the capacity reductions of the past two years.

Mr Jack Sanderson president of BCSA said that "We expect that 2011 will be another very difficult year, but hopefully we can see some

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ThyssenKrupp in talks for sale of Metal Forming with Gestamp

ThyssenKrupp has decided to negotiate exclusively with the Spanish Gestamp Automoción SL on the sale of the Metal Forming group.

The executive board of ThyssenKrupp AG has confirmed its intent to sell the Metal Forming Group to Gestamp and to approve entering into a corresponding

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Ukrainian steel output in January to February up by 13pct YoY

According to preliminary data, in the January to February period of this year Ukraine registered increase of 13%YoY in its finished steel product output to 4.903 million tonnes and a nine percent rise in its crude steel output to 5.535 million tonnes.

In the first two months of 2011,

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Hutchison Port to raise USD 5 billion from Singapore listing

China Knowledge reported that Hutchison Port Holdings Trust, a port unit under Hutchison Whampoa Ltd controlled by Hong Kong tycoon Mr Li Ka-shing is seeking to raise USD 5.83 billion through an initial public offering in Singapore, thus to become the largest ever listing in the

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Chinese ports cargo throughput in January up by 13pct

China Knowledge reported that China cargo throughput of ports above designated size amounted to 735 million tonnes in January reflecting a YoY growth of 13.3%.

In January, China saw its cargo throughput for foreign trade reach 237 million tonnes up by 13.5%YoY. The increase in China cargo

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ShaGang to lift EXW price for the first ten days of Mar

It is reported that leading China steelmaker Benxi Steel unveiled its price change details for Mar 2011 deliveries and most carbon steel prices keep unchanged with the same as that of the last ten days in February

1. Rebar
Mar prices keep unchanged from February level
HRB335 with diameter

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Iran sets deadline for Oman over Hormoz petchem unit

Tehran Times reported that Iran set 2 month deadline for Oman Oil Company to fulfill its obligations over the construction of Hormoz urea and ammoniac production unit in Assalouyeh of Southern Iran.

Mr Ahmad Heidarnia project manager of National Petrochemical Company said that in case of

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New DRI plant nears start of production in Iran

According to the Iranian governmental mines and metal holding company Imidro, Iran’s newest direct reduced iron plant has started trial production and is ready to start commercial operation.

Sources said that the Iranian Ghadir DR plant cost IRR 1,700 billion and it will have

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Port Pipavav registers best ever results in 2010

The financial results for the year ending December 2010 have been the best ever for Gujarat Pipavav Port Ltd (Brand name—APM Terminals Pipavav).

Financial highlights
According to a release, 2010 was of historic significance for Gujarat Pipavav Port Ltd. The company turned profitable

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Budget update - Cement prices may go up further

The Indian union budget move to reshuffle excise duty on cement may push up retail prices by INR 10 to INR 12 a 50 bag and add to the cost of construction.

Ms Vinita Singhania president of Cement Manufacturers Association said the budget has been quite a disappointment and was further

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