HEADLINES

    • Tata Steel falls to loss as European business suffers
      Others | Steel | 8th February 2016

      Tata Steel became the latest significant steelmaker to suffer an earnings hit from the turmoil in the global industry, after booking large restructuring charges and write downs on its European business. The Indian group is in the middle of a cost-cutting programme to salvage it’s persistently...

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    • U.S. Steel Imports Dropped 13 percent in last year
      Others | Coal/Coke | 8th February 2016

      U.S. steel imports for December were 2,323,000 net tonnes, a 5.3% fall from a month ago. That number includes finished steel imports of 2,017,000 net tons, which went up 3.2% from November. For 2015, total steel imports were 38,718,000 net tons, down 13% from 2014. Finished steel imports also fell...

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    • Goa to urge Centre to abolish 10% export duty on iron ore
      India | Iron ore | 8th February 2016

      The state government is likely to request the Centre to do away with the 10 per cent export duty on iron ore at least for two years in order to facilitate exports. The request will be made by the state authorities to the Centre during a meeting to be convened by Union Finance Minister Arun Jaitley...

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    • KIOCL Considers Building Iron Ore Plants in Iran
      India | Iron ore | 8th February 2016

      KIOCL is considering building an iron ore pellet complex in Iran at a cost of about $59 million and is in talks to sell more than 2 million tonnes of the steelmaking raw material to the Gulf country now free from trade sanctions. The potential Indian investment could offer cheaper supplies of...

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    • Iron ore prices to edge down in Feb on lower steel output
      Iron ore | China | 8th February 2016

      China Iron & Steel Association anticipated iron ore prices to edge down again for the rest of month on reduced consumption from lower steel output amid the Lunar New Year celebration, according to its monthly analysis report. “Steel mills have more or less completed iron ore restocking...

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    • More uncertainty for Adani's Carmichael thermal coal project in Australia
      Others | Coal/Coke | 8th February 2016

      Indian mining and energy company Adani insists it may resume work on its massive Carmichael coal project in Queensland, despite reports suggesting indicating no further capital would be spent on the controversial mine this financial year. Unconfirmed reports have suggested that Adani management...

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    • CIL eyes coal mines in South Africa as it gears up to meet 1 billion target
      India | Coal/Coke | 8th February 2016

      State-owned CIL is planning to acquire coal mines in South Africa in partnership with local government amid falling prices of assets globally as it gears up to meet the 1 billion output target. "Coal India has plans of acquiring coal mines in South Africa," an official said. It is looking...

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    • Coal scam: Special Court to pass order on charges on February 19
      India | Coal/Coke | 8th February 2016

      A special court decided to pronounce its order on framing of charges in a coal block allocation scam case, in which former Coal Secretary H C Gupta and two others are accused, on February 19. The case pertains to alleged irregularities in allocation of Brahmapuri coal block in Madhya Pradesh to...

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    • India cabinet clears plan to auction coal for non-power sectors
      India | Coal/Coke | 8th February 2016

      The Indian cabinet has cleared a proposal to auction coal to non-power sectors like steel, iron and cement, Coal Secretary Anil Swarup said ending the past practice of selective allocation and potentially raising costs for users. State-controlled Coal India Ltd will put up a quarter of its...

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    • Iron ore at one-month top as firmer steel spurs buyers
      India | Steel | 5th February 2016

      Spot iron ore rose to one-month peaks, with firmer futures on Wednesday pointing to more gains ahead as higher Chinese steel prices encourage buyers to stock up on the raw material before next week’s Lunar New Year break. Shanghai steel futures advanced, as prices found support around 1,800...

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    • Indian Steel sector will continue to face headwinds in this Financial Year
      India | Steel | 5th February 2016

      India has recently piped the US to become the world’s third largest Steel producer. And the other major steel producing markets in the world consider India as the only bright spot amid the chaos. Also, the benefit of gradual domestic demand growth will be offset by the weak product pricing...

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