Ezz Steel raises EXW prices to compensate for tax hike

Steel prices are on the rise again and the largest listed manufacturer in Egypt is set to benefit. Ezz Steel raised its ex-factory price the price the manufacturer has to bear by EGP 50 to EGP 3,600 per tonnes to compensate for a tax hike levied on the steel it produces.

With prices of raw

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Reliance Power Q1 consolidated net down by 25pct

Reliance Power announced a decline of 25.79% YoY in the consolidated net profit for quarter ended June 2010. During the period consolidated total net profit of the company was at INR 1,954.06 million for the quarter ended June 30 2010 as compared to INR 2,633.09 million in the prior year


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Chinese domestic galvanized steel HDG price update on August 2

HDG
0.5mm
Location In CNY In USD

Shanghai 0 0

Hangzhou 28 4

Fuzhou 0 0

Nanchang 98 14

Guangzhou 0 0

Wuhan 0 0

Zhengzhou 0 0

Beijing 0 0

Tianjin 45 7

Shenyang 0 0

Harbin 0 0

Chongqing 43 6

Xian 0 0

Boxing 50 7

Average 19 3



Change is on 2nd August as compared to 30th July 2010
Change is per tonne
USD:CNY = 6.78

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POSCO war zone - Pro POSCO group to intensify stir

United Action Committee, hitherto known as a pro POSCO project outfit, has threatened to intensify stir and resort to road blockade from August 3rd 2010 if its demand for change in the survey method and higher compensation is not met by the administration.

In another development, two

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Corus timing was not right - Dr Irani

Dr J Irani director of TATA Sons said the timing of Corus buy was not right although the USD 12 billion acquisition that catapulted TATA Steel to the world’s sixth largest steel manufacturer.

Mr Irani on the sidelines of a seminar organised by the Confederation of Indian Industry said

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