HEADLINES

  • China’s HSBC Flash PMI comes at 18-month high for July
    China | Steel | 24th July 2014

    China's manufacturing activity rose to an 18-month high in July, a private survey showed Thursday, as the government's stimulus measures worked their magic, consolidating a recovery in the world's second biggest economy. HSBC flash Purchasing Managers' Index (PMI) came in at 52, following the 50.7...

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  • Robust PMI data bring some optimism in the markets
    Iron ore | China | 24th July 2014

    Following the declines in the past few sessions, the trade seemed to be slightly buoyed by the better than expected Chinese flash PMI manufacturing data that came in at 52, helping the sentiments in both physical and paper markets, although the fundamentals are still not conducive for sustained...

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  • Sea-borne coking coal prices hold stable
    Others | Coal/Coke | 24th July 2014

    Sea-borne coking coal prices were seemingly stable in the Asian markets as the trade remained thin on volumes with major buyers from China, Japan and India holding back on their procurements from the spot market, in anticipation of further declines following recent events which clearly point...

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  • SAIL to increase exports by more than 70 percent this fiscal
    India | Steel | 24th July 2014

    India’s state-owned steelmaker, Steel Authority of India Ltd. (SAIL) plans to export higher volumes of steel after commissioning new facilities under modernization and expansion plan, Minister of State for Steel Vishnu Mr. Deo Sai suggested on Wednesday. In a written reply in the Rajya Sabha...

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  • Spot steel offers in India slip further
    India | Steel | 24th July 2014

    Monsoon has clearly taken over the steel fundamentals as the prices across the country continued to record more corrections. Indian steel offers slipped across all the steel segments as rains disrupted the operations and logistics, and the prevailing demand fundamentals are not conducive enough to...

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  • NMDC plans to boost iron ore output to 50 mtpa
    India | Iron ore | 24th July 2014

    NMDC Ltd, India`s biggest iron ore producer, aims to ramp up output by two-thirds in five years to 50 million tons per annum, helped by the launch of new mining facilities and expansion of existing infrastructure, its chairman said. State-owned NMDC`s plans will add to surging global growth in...

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  • Iron ore conservation not possible though banning exports
    India | Iron ore | 24th July 2014

    Conservation of iron ore may not be possible through banning or capping exports but by taking recourse to fiscal measures, Indian government recently indicated. "The government has decided that although conservation of iron ore resources is of paramount importance, the same may not be achieved...

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  • Baltic indices move back into green zone with marginal gains
    Others | Freight | 24th July 2014

    Freight markets moved back into green territory lead by the marginal gains in capesize and panamax segments on Wednesday, while the smaller vessel segments were broadly unchanged. The global gauge of dry bulk freight, Baltic Dry Index (BDI) advanced 4 points to end at 727 points, as the trading...

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  • Essar Ports reported 9 percent decline in net profit for Q-1
    India | Freight | 24th July 2014

    Essar Ports reported a 9 percent dip in net profit to INR 92.15 crores for the first quarter ended June 30, due to higher expenses and finance costs. It had reported a net profit of INR 101.44 crores in the first quarter of 2013-14. "Revenues for the quarter increased by 4 percent to INR 431.6...

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  • Nucor raises wire mesh prices for August deliveries
    Others | Dri/Pig Iron | 24th July 2014

    As per an independent report, American steelmaker Nucor has increased the prices of all its mesh products by $20 per short ton for the August deliveries. The company in a letter to its customers indicated that this increment will become effective from 4th August. The company has last increased...

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  • Government forms panel to study revision of royalty rates on coal
    India | Coal/Coke | 24th July 2014

    Indian government has constituted a panel to consider revision of rates of royalty of coal which is at the present 14 percent ad-valorem on price of the fossil fuel. Ad valorem means according to worth. The term ad valorem can apply to any tax, fee, or duty that is charged as a percentage of the...

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  • Tata Power generated 45,210 million units of power FY-14
    India | Coal/Coke | 24th July 2014

    Tata Power recently indicated that it generated 45,210 million units of electricity in the 2013-14 fiscal, an increase of 30 percent compared to the previous fiscal. In 2012-13, the amount of electricity generated was 34,683 million units. The total power generation capacity of Tata Power "...

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  • JSW Energy reported 52 percent rise in net profit for Q-1
    India | Coal/Coke | 24th July 2014

    JSW Energy on Wednesday posted a 51.9 percent increase in consolidated net profit at INR 325.47 crores for the quarter ended June 30, 2014. It had reported a net profit of INR 214.26 crores in the corresponding quarter last fiscal. The company’s total income grew by 3.49 percent to INR 2,558....

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  • Physical iron ore comes under pressure
    Iron ore | China | 23rd July 2014

    Trade was more or less subdued with little action in terms transactions as the buyers kept waiting on the fringes for prices to decline further. Port inventories are still very high which clearly indicates that the situation of supply glut hasn’t changed much, and with the prevailing subdued...

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  • China imported 74.56 million tons of iron ore in June
    Iron ore | China | 23rd July 2014

    According to the recent data by China’s General Administration of Customs, the country imported 74.56 million tons of iron ore in the month of June, depicting a decline of 3.6 percent from the last month. The iron ore shipments from Australia and Brazil accounted for nearly 80 percent of...

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