• Steel production growth in India is sustained by domestic market
      India | Steel | 27th November 2015

      The impact of downward risks on the global steel industry is best reflected in crude steel production data just released by WSA. A 2.5% decline in production in the first 10 months of 2014 with 68% capacity utilization signal a deep penetration of the negative factors in influencing the level of...


    • Iron ore import becomes viable after a gap of three months
      India | Iron ore | 27th November 2015

      Import of iron ore has again become viable, due to a sharp decline in global prices and a steep fall in freight rates over the past three months. However, domestic iron ore miners, led by government-owned NMDC, have not cut prices proportionately. That of ore lumps is down only 16 per cent since...


    • Iron ore value keeps dropping, industry giants likely to collapse
      Iron ore | China | 27th November 2015

      Iron ore prices recorded a 10-year low overnight to $43.40 - a dip that will affect high-cost producers in Australia and prompt their collapse, a resource analyst claimed. The issue triggering falling iron ore values is a supply one, as increased output from miners fail to match slowing demand from...


    • Australian Firms Keen on Investing in Indian Port City
      India | Freight | 27th November 2015

      More number of Australians is becoming aware of India’s growth potential and is keen on investing in India, said Tom Calder, trade commissioner of Australian Trade Commission. However, many Australian companies are awaiting economic reforms at the State and the Central level to invest in...


    • Coal union trying to forge united opposition to CIL divestment
      India | Coal/Coke | 27th November 2015

      The INTUC affiliated Indian National Mineworkers Federation is trying to forge out a united opposition to the proposed third dose of divestment at Coal India Ltd. It has already adopted a resolution opposing the move at its recent conference at Chhindwara, Madhya Pradesh to this effect and is now...


    • Tata Steel hopes Kalinganagar unit will help offset Europe losses
      India | Steel | 26th November 2015

      When Tata Steel Ltd’s Kalinganagar factory in Odisha starts operations in March, it may somewhat offset it’s bleeding European operations although short-term pains will still hurt. The company will continue to see low capacity utilization owing to lack of demand at the ground level. We...


    • External consultant will be appointed to review SAIL structure: Steel Minister
      India | Steel | 26th November 2015

      An external consultant would soon be appointed for a review of Steel Authority of India Ltd’s structure. The idea has been suggested by the Steel and Mines Minister Narendra Singh Tomar. Tomar, who was undertaking a performance review of SAIL, said that the consultant will have the mandate to...


    • SAIL set to report first loss in 13 years
      India | Steel | 26th November 2015

      After 13 years, Steel Authority of India (SAIL) is likely to report losses for 2015-16, as steel prices continue to decline. Over the past one year prices of HR coils have fallen by nearly 40% to $388 per tonne and consequently the company’s realisations have dropped 24% in Q2 FY16 from a...


    • Steel stumbles to near record low as China demand cools
      China | Steel | 26th November 2015

      Shanghai steel futures languished near a record low amid cooling Chinese demand, putting more pressure on raw material iron ore that is only a tad off a seven-year trough. A global glut of iron ore at a time of shrinking steel demand in top market China has caused iron ore prices to fall 38 per...


    • Iron ore price plunges to 10-year low
      Iron ore | China | 26th November 2015

      The price of iron ore has struck a 10-year low after extending a six-week retreat that has seen 25 per cent wiped off the commodity’s value. At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $US43.40 a tonne, down 1.8...


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