Steel joist I Beam prices scenario in major places on June 29

JSTI
GR A
250X125


Location Change

Ahmedabad -312

Bangalore 0

Chennai 0

Delhi 0

Indore -300

Kanpur 0

Kolkata 0

Ludhiana -209

Mandi 0

Mumbai -344

Raipur 0

Rudrapur 0


Change is on 29th June as compared to 28th June 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.

(Sourced from www.steelprices-india.com)

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Vysota 239 pipes of ChTPZ meet international standards of DNV

It is reported that in Autumn last year ChTPZ Group a Russian producer of welded and seamless steel pipes and tubes initiated certification arrangements for the Vysota 239 pipe electric-welding workshop of Chelyabinsk Tube-Rolling Plant.

Specialists from certification company Det Norske


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Steel plate cutting prices crashes at Alang

Product Grade Size Change

Plate cuttings Rolling 1" -500

Ship Scrap Melting Mixed -800


Change is on 29th June as compared to 28th June 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.

(Sourced from www.steelprices-india.com)

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Hermes Data communications Middle East wins BP contract renewal in Iraq

Hermes Data communications Middle East, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has won a contract to continue providing VSAT communications to support BP's operations in Iraq. Hermes will continue supporting degassing stations, rigs


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Renaissance unit in Oman awards MoH contract

Muscat Daily reported that Renaissance Services subsidiary Tawoos Industrial Services Company has successfully mobilized Ministry of Health hospitals under a new contract recently awarded to it.

The contract signifies a remarkable achievement for TISCO as the largest award from Oman's


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Must for steel market players in Middle East Asia

www.steelprices-middleesat.com is a comprehensive service for tracking real time domestic steel prices and trends in Middle East.

The scope of service includes
1. Domestic pricing information in UAE, Saudi Arab, Qatar, Kuwait and Bahrain
2. Export levels from Turkey, Rotterdam, China,


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GAIL seeks exemption from payment of fuel subsidies

State run gas utility GAIL India Ltd said that it should be exempted from payment of fuel subsidies as it does not get any upside from rise in crude oil or natural gas price.

GAIL along with Oil and Natural Gas Corp and Oil India Ltd (OIL) have to compensate for at least one third of the


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HR steel prices on June 29

HRC
Tube
2.5x1250


Location Change

Ahmedabad 0

Bangalore 0

Chennai 0

Delhi 0

Indore -254

Kolkata 0

Ludhiana 0

Mumbai 0


Change is on 29th June as compared to 28th June 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.

(Sourced from www.steelprices-india.com)

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Road freight rates up due to diesel price hike

It is reported that freight rates showed a sharp rise of INR 2,000 per 10 metric tonne load in the local truck transport market following a hike in fuel prices.

Transporters said the rise in diesel prices by INR 3 per litre, mainly pushed up the freight rates.

In major metros like Delhi

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INDSPI - SENSEX for domestic steel prices in India

Amidst the currently prevailing volatile and speculative steel price scenario in India, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis.
The domestic steel prices across various locations in India are different due to variety of

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Rot sets into the finished steel long products as well in India

With each passing day the rot which set into the long product market on week opening is taking epidemic proportion as the monsoon clouds becomes thicker.

Pencil ingot prices continued sliding with undiluted vigor however in rebars and other finished products wherein the correction was


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Livingstonia uranium project inferred JORC Resource - Globe Metals

Globe Metals & Mining announced the market of 30% increase in the inferred JORC resource estimate at the Livingstonia Uranium Project in northern Malawi. Attached is the relevant market release by Globe’s JV partner Resource Star Limited. Globe would like to congratulate Resource Star on

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NALCO cuts domestic aluminum price

IANS reported that National Aluminum Company Limited has decreased its domestic aluminum price by INR 2,000 per tonne as the international price of the metal has come down.

An official said that this is the third time this month the Bhubaneswar headquartered NALCO has revised the price

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Commodities rebound on EU support for Greece

Copper, lead and tin climbed, joining a rebound in other commodities, including oil, after European leaders showed support for Greece easing concern that a default may hurt global growth.

Three month copper on the London Metal Exchange advanced as much as 1.6% to USD 9,100 per tonne and

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Inco to invest USD 500 million in Bahodopi mine

Reuters reported that International Nickel Indonesia will invest USD 500 million over the next 3 or 4 years to develop a nickel project in Central Sulawesi.

Mr Tony Wenas CEO of Inco said that the company plans to start work next month at its Bahodopi nickel project, which will include an

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Clough Joint Venture awarded new contract

Engineering and construction company Clough Limited announced the award of a circa AUD 45 million contract to the STREICHER-Clough Joint Venture for pipeline construction work on the Macedon Project.

SCJV is a 50/50% joint venture between Clough and Germany pipeline engineering and


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Plate shipment starts for Korea from end of this month

TEX reported that preliminary negotiations on steel plates for next quarter shipment have continued for the Korean shipbuilders, full fledged negotiations will be possibly entered into in the end of this month or early July.

Some Japanese mills' policy is “We are ready to offer at

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Region wise crude steel output in May 2011

Region May'11 May'10 Change J-M'11 J-M'10 Change
Total 129,865 124,639 4.2 630923 586950 7.5
Asia 82,694 78,421 5.4 403964 372899 8.3
EU (27) 16,317 16,534 -1.3 77637 74624 4.0
North America 10,078 9,918 1.6 49013 46713 4.9
CIS (6) 9,635 9,553 0.9 47159 44815 5.2
South


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POSCO gains Russian footing

Mr Chung Joon-yang POSCO Chairman left poses with Mechel Group CEO Mr Igor Zyuzin after signing an agreement that POSCO A&C and its affiliate will build living quarters for miners and a hotel near the Elga coalfield.

POSCO said the company has signed a memorandum of agreement with Mechel

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NDRC appeals to adjust car quota limit in Beijing

National Business Daily reported that China top economic planner is appealing to adjust or scrap the Beijing municipal government's policy to limit new car quotas.

The newspaper said in a report submitted to China State Council, the National Development and Reform Commission also linked


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Baosteel increases SBQ steel plate supply to NACKS

It is reported that from 2005 to 2010, Baoshan Iron and Steel Group Co Ltd boosted its ship building plate supply to Nantong COSCO KHI Ship Engineering Co Ltd from 0.01 million tonnes to 0.11 million tonnes on yearly basis which made it one of the major suppliers for NACKS in China. NACKS has

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OPEC and IEA clash over oil reserves

Reuters reported that consumer watchdog the International Energy Agency’s emergency oil release is a desperate measure that threatens to undo two decades of cooperation with OPEC and could fail to calm prices.

Thursday’s announcement of 60 million barrel release from emergency


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Bahrain plans 25 kilometers water pipeline

Trade Arabia reported that Bahrain’s Electricity and Water Authority will build 25 kilometers pipeline in a move to reinforce the electricity and water transmission networks to meet the growing demand for power and water.

EWA signed BHD1.16 million contract with Bahrain based Panorama


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CCI approves four laning of Jabalpur Lakhanandone section

The Cabinet Committee on Infrastructure approved the implementation of the project for the development of four laning of Jabalpur-Lakhanadone section from 465.600 to 546.425 KM on National Highway 7 in Madhya Pradesh under NHDP Phase IV-A on Design, Build, Finance, Operate and Transfer basis


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TATA Motors and West Bengal look for workable solution

BS reported that TATA Motors and the West Bengal government are likely to come up with a workable solution over the weekend before the hearing on the Singur Land Rehabilitation and Development Act, 2011, resumes at the Calcutta High Court on Monday.

Though it was not clear what it might be,

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JNPCT operations affected due to crane installation

The Shipping Corporation of India has informed, that in view of three new RMQCs being commissioned at the main berth of Jawaharlal Nehru Port Container Terminal some vessels of its ISE and IMED service, whose length is more than 260 meters, will be skipping JN Port and proceeding directly to


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New steel capacity will help balance the market in India - Mr CS Verma

Source - Business Line

In an interview to Business Line, Mr CS Verma SAIL chairman exuded confidence about a robust demand scenario for steel playing out in India, be it in the flat, long or value added segment, but cautioned on volatile raw material prices and the difficulties of setting


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GP steel HDG price on June 8

GP
100Gms
0.40


Location Change

Mumbai 218

Chennai 0

Kolkata 0

Delhi 531

Ludhiana 181

Kanpur 0

Rudrapur 0

Bangalore 0


Change is on 8th June as compared to 7th June 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.

(Sourced from www.steelprices-india.com)

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Saudi donates 3m barrels of crude to Yemen

Saudi Arabia has donated 3 million barrels of crude oil to impoverished southern neighbor Yemen.

Mr Amir al Aidarous the poorest Arab country's oil minister said that King Abdullah has instructed to provide 3 million barrels of crude oil in donations to Yemen.

A blast on the small, non

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Steel wire rod prices remain flat on June 8

WRC
SWR14
5.5/6


Location Change

Chennai 0

Delhi 0

Kanpur 0

Kolkata 0

Raipur 0

Rudrapur 0


Change is on 8th June as compared to 7th June 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.

(Sourced from www.steelprices-india.com)

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Isdemir announces lockout in response to union strike decision

Turkey's largest steelmaking group Eregli Demir ve Celik Fabrikalari TAS has announced that on June 6th 2011 its Iskenderun based subsidiary Iskenderun Demir ve Celik AS decided on a lockout pursuant to Collective Labor Agreement and Strike and Lockout Act Law No 2822.

Since the parties

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Dynamatic Technologies buys Eisenwerke Erla

Dynamatic Technologies an Indian components manufacturer for Airbus SAS, Deere & Co and Ford Motor Co said it acquired German automotive component maker Eisenwerke Erla GmbH.

Dynamatic, run by entrepreneur Mr Udayant (Toby) Malhoutra, acquired the company from Chennai based Sanmar Group who

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Adani Power set to complete 1000 kilometer transmission line

Adani Power Ltd, which synchronized the second supercritical coal fired thermal power unit of 660 MW at Mundra last week, is all set to complete the 1,000 kilometer long transmission line to Mohindergarh in Haryana in the second quarter of 2011-12, and will start power supply next year.

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RINL to shift focus to flat steel in next stage of expansion

Rashtriya Ispat Nigam Ltd has decided to expand into the flat steel business with the changing dynamics of demand.

Mr PK Bishnoi CMD of RINL said that RINL is looking to enter the flat steel market in a big way.

He said up to 7.3 million tonne capacity from the current 3.3 million

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Global Earth Energy and Modern Coal ink pact for mining of the Samuel Coal site

Global Earth Energy Inc and Modern Coal are proud to announce that they have executed a contract mining agreement with Abundance Coal. Abundance Coal has agreed to be the contract miner for the Samuel Coal Company sites after Global Earth and Modern Coal close the acquisition of those sites.

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Chinese domestic pig iron prices on June 8

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 8th June as compared to 7th June 2011
Change is per tonne
USD:CNY = 6.48

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.

(Sourced from www. steelprices-china.com)

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Floods continue to cost Queensland coal companies

It is reported that mining royalties reaped by Queensland will be severely impacted if the government doesn't allow the release of floodwaters hampering coal mine operations.

Mr Michael Roche Queensland Resources Council chief executive said the credibility of royalty estimates in next

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Iron ore prices rise as Chinese steel mills restock

Reuters reported that spot iron ore prices rose recently as Chinese steelmakers’ replenished inventories that have run low after a record pace of steel production until mid-May.

A drop in spot prices to two month lows last week encouraged mills in China, the world top iron ore

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Matilda Zircon in pre open pending Tiwi Islands operations announcement

Matilda Zircon has been granted a trading halt by the ASX pending an announcement on the Tiwi Islands operations with the company's shares placed in pre open.

Matilda has not yet provided any further details surrounding the announcement but the Tiwi Islands operations are located 50

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Zambia asks Glencore unit for underpaid taxes

Reuters reported that Zambia has asked commodity trader Glencore's Mopani Copper Mines for unpaid taxes after an audit of the subsidiary, leaked earlier this year said it had underpaid mining dues. But Zambia is leaving the door open for a deal with Glencore.

Mr Situmbeko Musokotwane

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Outokumpu is pessimistic on stainless steel demand in Asia

According to report, Finnish stainless steelmaker Outokumpu has seen stainless steel demand in East Asia would remain moderate slow in the coming quarter.

Mr Sami IIkka GM of the company in China, Taiwan and South Korea, told Reuters that he is pessimistic about the near term outlook of the

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Employers rally to help TATA Steel workers facing the axe

Employers in North Lincolnshire are starting to rally around the 1,200 TATA Steel workers in Scunthorpe who stand to lose their jobs. So the far the steel task force, which meets again on Friday, has received offers from three local engineering firms and more are said to be interested.

The

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Essar to conclude Zisco deal in 2 to 3 weeks

Reuters reported that Indian conglomerate Essar expected to wrap up a USD 750 million investment in Zimbabwean steel maker Zisco within 2 to 3 weeks with first production arriving in 12 to 15 months.

The African unit of Essar Group, in November agreed to buy 54% in the Zimbabwe Iron and

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Import Substitution part of the strategy OMC

According to Ilya Nikita director of marketing for UMC at the 9th Metallurgical Summit in Moscow that United Metallurgical Company has embarked on a strategy of import substitution in 2003, when the country first decided to build a line for line pipe with a diameter of 1420 mm.

According to

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Baoan Group invests CNY 124 million in Yongli Power

It is reported that China Baoan Group intends to invest CNY 123.5 million in Wuhan Yongli Power Technology.

As per report, of the total investment, CNY 28.5 million will be used to buy Yongli Power shares from seven shareholders while CNY 95 million will be injected into the company. After

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SAIC May sales up by 5pct slowest month this year

Reuters reported that Top Chinese automaker SAIC Motor Corp vehicle sales in May climbed 5.4%YoY the slowest monthly gain so far this year amid a slowdown in the world largest auto market.

it said in a stock exchange filing that SAIC which operates auto ventures with General Motors and

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Chongqing Steel output in May up 29pct YoY

It is reported that Chongqing Iron and Steel produced 420,000 tons of steel materials in May marking a 28.65%YoY rise.

The firm produced a cumulative 2.3 million tonnes increase of 63.19%%YoY

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Pencil ingot price movement in major places on June 8

Pencil ingot


Location Change

Ahmedabad 0

Alang 100

Bhiwari 100

Chennai 0

Durgapur 91

Ghaziabad 200

Hyderabad 0

Jaipur 200

Jamshedpur 300

Ludhiana -181

Kanpur 0

Kolkata 0

Mandi 200

Mumbai 100

Muzzafarnagar 181

Nagpur 181

Raigarh 0

Raipur 100

Rourkela 100

Rudrapur 0


Change is on 8th June as compared to 7th June 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.

(Sourced from www.steelprices-india.com)

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Iraq oil markets well supplied

World oil markets are well supplied and prices at USD 100 per barrel to USD 120 per barrel are fair, suggesting Baghdad may not see a case for an increase in OPEC's output.

The Organization of the Petroleum Exporting Countries meets in Vienna and Saudi Arabia and other Gulf producers favor

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Turkish hot rolled steel exports surge strongly in Jan-May

According to the statistics provided by the Istanbul Mineral and Metals Exporters' Association, in May this year Turkey's total hot rolled flat steel exports amounted to 226,631 tonnes climbing by 260.04% YoY. Meanwhile, the revenue generated by these exports totaled USD 170.3 million rising

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GAIL to submit proposals to West Bengal in 3 to 4 days

State Commerce and Industry minister Mr Partha Chatterjee said that GAIL would submit its proposals to it within three to four days,

Quoting chief minister Ms Mamata Banerjee whom the GAIL chairman Mr BC Tripathi met during the day and made a power point presentation about its investment

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India Yamaha Motor sales in May up by 55pct

Two wheeler maker India Yamaha Motor reported a 55% increase in total sales to 38,812 units in May, compared to the corresponding month a year ago.

Yamaha Motor in a statement said that the company sold 25,033 units in the same month last year. In the domestic market, the company’s

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JSPL to add 1000 MW this fiscal

Jindal Steel and Power Ltd expects to increase its power generation capacity by 1000 MW to 2,700 MW by the end of the current financial year.

At present, JSPL has a generation capacity of 755 MW, while its subsidiary Jindal Power Ltd produces 1,000 MW. JPL, which accounted for a fourth of


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POSCO war zone - BJP to oppose POSCO MoU

PTI reported that asking the Orissa government to consult opposition political parties before signing fresh MoU with POSCO, BJP said it would oppose any move to allow a captive port and iron ore swapping for the proposed steel project.

Senior BJP leader and former state minister Mr Biswa

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Jai Balaji Industries posts Q4 profit of INR 32 crores

Jai Balaji Industries Limited has announced the financial results for the period ended March 31st 2011.

The company has reported net sales from operations of INR 649.66 crores for the quarter ended March 31st 2011 as compared to INR 503 crores for the quarter ended March 31st 2010.

The

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ABB to build a new Miniature Circuit Breakers plant in India

ABB, the global power and automation technology group, announced that it will invest approximately USD 24 million in a new facility in India to manufacture a new range of Miniature Circuit Breakers, Residual Current Circuit Breakers and Surge Protection Devices.

The new manufacturing

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Punj Lloyd announces Q4 and FY 2011 results

Punj Lloyd Group, the diversified engineering, procurement and construction conglomerate, announced its financial results for the fourth quarter and annual results of FY 2011 at its board of directors meeting.

Annual standalone results for FY2011
1. Total Income for FY 2011 is INR 4,458

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