HEADLINES

  • Physical iron ore prices dip further lower
    India | Iron ore | 22nd August 2014

    Sentiments were broadly turning negative in the physical markets following the gradual declines in the physical iron ore prices off-late, and the transactions in the morning showed drastic fall in the traded prices, while the paper markets stayed near the all time lows weighed down by the downbeat...

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  • India can achieve 300 million tons steel output by 2025: RINL
    India | Steel | 22nd August 2014

    Rastriya Ispat Nigam Ltd. (RINL) Chairman Mr. P. Madhusudan recently indicated that the country has the capacity to achieve the target of 300 million tons of steel output by 2025. Mr. Madhusudan said this on the sidelines of an industry event, "The target of 300 million tons by 2025 is...

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  • Indian spot steel prices continue to record more hikes
    India | Steel | 22nd August 2014

    Physical steel prices continued to move upwards with semi-finished steel recording marginal hikes, while the long steel markets also experienced some gains. Primary steelmakers may be mulling for the increase in their product prices for the deliveries in the month of September as the recent...

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  • Royalty on minerals to states to swell 41 percent to INR 13,274 crores
    India | Iron ore | 22nd August 2014

    Mineral-rich states like Odisha, Chhattisgarh and Jharkhand will be the biggest beneficiaries of hike in royalty rates by the Union Cabinet, chaired by Prime Minister Mr. Narendra Modi. The royalty to mineral rich States would increase by 41 percent to INR 13,274 crores from INR 9,406 crores (2011-...

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  • Goa seeks reversal of proposed hike in iron ore royalty rates
    India | Iron ore | 22nd August 2014

    Goa government will demand a rollback of hike in royalty rates of low grade iron ore proposed by Centre, saying profit margins of mining industry have shrunken due to a steady fall in international prices since 2011. "Royalty on the low grade ore of less than 58 percent Fe should be ten...

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  • Odisha welcomes royalty revision, seeks arrears since 2012
    India | Iron ore | 22nd August 2014

    Welcoming the Centre's decision of revising mineral royalty, the Odisha government on Thursday demanded arrears for the state. "We are happy that the Centre has revised the royalty of minerals. But, the state should also be given arrears for two years from 2012 to 2014," state Steel and...

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  • Baltic Dry Index gains more on surge in capesize rates
    Others | Freight | 22nd August 2014

    Again the dry bulk freight markets moved higher for the day lead by the gains in capesize segment which pushed the main index higher. On Thursday, Baltic Dry Index (BDI) went up by 35 points to close at 1,096 points, with increased activity in the larger vessel category. The index has risen more...

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  • Sohar Port unveils ambitious rail freight plan
    Others | Freight | 22nd August 2014

    Millions of tons of cargo being transported now by road into and out of Sohar Port will be converted into rail-based freight when the industrial port is hooked up to Oman's national rail network and ultimately the GCC-wide rail system.

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  • Transnet to expand iron ore rail capacity
    Others | Freight | 22nd August 2014

    Transnet plans to almost double capacity on its South African iron ore rail line as the state-owned operator looks beyond a slump in prices for the steelmaking ingredient and bets miners will raise production. Transnet Freight Rail (TFR) plans to raise capacity on the line to as many as 105 million...

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  • US weekly coal output edges up by 2.4 percent
    Others | Coal/Coke | 22nd August 2014

    According to the recently released figures by Energy Information Administration (EIA), the weekly estimated coal production in the US (including thermal and metallurgical coal) stood around 19.6 million short tons for the week ending on 16th August. Estimated output was 2.4 percent higher than the...

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  • Falling crude, coal prices huge positive for India
    India | Coal/Coke | 22nd August 2014

    Falling prices of crude oil, thermal coal and liquefied natural gas (LNG) are huge positive for India as energy imports account for 36 percent of its total imports last fiscal, research firm Crisil Research said.

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  • Spot iron ore comes under pressure with flash PMI missing expectations
    Iron ore | China | 21st August 2014

    Physical trade was marred by the rolled over sentiments which painted bleak picture for near term as the steel prices continue to soften. Moreover, the flash HSBC manufacturing PMI for August impacted the mood adversely which dropped below estimates, raising concerns that Chinese economy may not...

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  • Minera Group commissions 0.6 mtpa pellet plant at Bellary
    India | Iron ore | 21st August 2014

    Minera Group has successfully commissioned 0.6 mtpa pellet plant at its Bellary, Karnataka. The maiden production at the plant was witnessed at 01:35 am on 19th August 2014. The commissioned plant has a capacity of 600,000 lakh tons (0.6MTPA) with a Straight grate production technology. Minera...

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  • China’s HSBC flash manufacturing PMI comes at 50.3 for August
    China | Steel | 21st August 2014

    China HSBC manufacturing PMI dropped below estimates in August, raising concerns that the world's second largest economy may not realize the targeted growth of 7.5 percent, especially after credit slowdown. Factory activity in China is closely monitored globally, and helps in guiding the global...

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  • FMG reports record high profits
    Iron ore | Others | 21st August 2014

    Nearly two years since Fortescue Metals Group (FMG) staved off a liquidity crisis, paying off debt is still its top priority. World's fourth largest iron ore miner grew its full year net profit by 56 percent to a record USD 2.7 billion but unsurprisingly did not increase its 10 US cents a share...

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  • Spot steel prices continue to move upwards in India
    India | Steel | 21st August 2014

    Spot steel offers in India depicted some more positive movements primarily in the semi steel and long steel segments as the prices continued to improve buoyed by number of factors favoring the further gains. Recent surge can be attributed to restocking by the secondary steelmakers and traders who...

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