HEADLINES

    • NINL to dilute equity
      India | Steel | 30th March 2015

      As a plan to scale up operations MMTC Ltd plans to invest around Rs 500 crore as equity contribution for first phase capacity expansion of Neelachal Ispat Nigam Ltd’s (NINL) steel plant at Kalinganagar.

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    • Chinese steel price hike subsides
      China | Steel | 30th March 2015

      A recent jump in the price of various steel products in the domestic Chinese market has proved short lived, leaving many market participants apprehensive, according to a Chinese News Agency. Last week, a comprehensive index that monitors the price of delivered steel products in China jumped 2.62...

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    • Iron ore price weighs on Australian dollar
      Iron ore | Others | 30th March 2015

      Commodity prices took a tumble on Friday, with oil and copper falling, and iron ore plunging to a six-year low. 'The combination of oversupply and the weakening building sector in China, Australia's largest trading partner, is leaning on the Australian dollar,' OANDA Asia Pacific senior trader...

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    • Iron Ore Mine issue for Korean Steel maker Posco's now in Centre's court
      India | Iron ore | 30th March 2015

      With uncertainty prevailing over Posco's Rs 52,000-crore mega steel project near Paradip, Odisha government says the ball is in the Centre's court with regard to raw material linkage for the South Korean firm. "The state government has complied with all the queries of the Centre regarding its...

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    • Not our staff, says KIOCL
      India | Iron ore | 30th March 2015

      Three persons, who died during the dismantling work of the iron plant at Kudremukh on Sunday, were not employees of the Kudremukh Iron Ore Company Ltd., said the company in a release on Monday.

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    • NMDC Nagarnar plant to be ready by Dec 2016
      India | Iron ore | 30th March 2015

      NMDC Limited will complete the construction of its 3-million tonnes per annum (mtpa) integrated steel plant at Nagarnar in Chhattisgarh by 2016. “The plant is in an advanced stage of erection. The erection will be completed by December 2016,” NMDC chairman and managing director,...

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    • Pig iron exports market to bounce back in a year: MMTC
      India | Dri/Pig Iron | 30th March 2015

      Pig iron exports by MMTC controlled Neelachal Ispat Nigam Ltd (NINL) are expected to pick up steam within a year mainly on the back of revival in US economy and steady GDP growth rate posted by China. Though MMTC has been floating tenders to export pig iron produced by NINL, it has been struggling...

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    • CIL to be appointed custodian JSPL, Balco Coal blocks: Delhi HC
      India | Coal/Coke | 30th March 2015

      Coal India Limited, the single largest producer of the natural fuel in the Country has been appointed as the keeper for the rejected coal blocks of steelmaker JSPL and BALCO. The company will operate the mines with the existing infrastructure and manpower, people familiar with the matter said....

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    • Campaign to push for merger of NMDC with RINL
      India | Steel | 27th March 2015

      Demand for merger of Rashtriya Ispat Nigam Limited and National Mineral Development Corporation which was dropped after the latter expressed its disinclination, is gaining momentum again.

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    • China's Baosteel criticises call for iron ore output cap
      China | Steel | 27th March 2015

      China's Baoshan Iron and Steel, the world's fourth-biggest steel producer, said a call by Australian miner Fortescue Metals Group for a cap on iron ore output to revive prices was "not good for fair competition." "Companies should follow the laws of the market. Any action that is...

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    • Iron ore industry to reframe
      Iron ore | Others | 27th March 2015

      One of the World’s biggest miners Rio Tinto and BHP Billiton, are still making money and expanding production, but questions remain about the viability of their heavily indebted rivals Fortescue Metals Group and Gina Rinehart's Roy Hill project. Iron ore is trading at a six-year low of around...

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    • Barnett backs Andrew Forrest’s iron ore cap call for WA miners
      Iron ore | Others | 27th March 2015

      ANDREW Forrest’s call to ease iron ore production to boost its ailing price was careless — but the reaction has been over the top, the West Australian premier says. The Fortescue Metals Group chairman made the comment at a business function in China this week, prompting the competition...

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