HEADLINES

  • Spot steel prices trend sideways ahead of Diwali
    India | Steel | 22nd October 2014

    In the Indian steel markets, the semi steel prices moved in a tight range during the initial session of trade on Wednesday, while the finished steel segment was broadly steady ahead of major festival of Diwali in the northern and western part of the country. The steelmakers are eying the festive...

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  • BHP Billiton posts increased iron ore output for September quarter
    Iron ore | Others | 22nd October 2014

    Anglo Australian miner, BHP Billiton posted good production numbers for September quarter, beating expectations in iron ore and coal operations. The company also indicated that it is on track to meet its full-year iron ore production guidance of 245 million tons.

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  • JSW Steel swings back to profit in September quarter
    India | Steel | 22nd October 2014

    On Tuesday, JSW Steel reported a consolidated net profit of INR 749 crores in July-September quarter on the back of higher margins and hedging initiatives that helped it avoid FOREX loss. The company had reported INR 116 crores net loss in the July-September quarter of the previous fiscal. "...

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  • Odisha sets two panels to streamline mining, caps ore production
    India | Iron ore | 22nd October 2014

    Odisha government on Tuesday decided to set up two committees, one to expedite renewal of mining leases and another for satellite monitoring of mining activities in the field besides capping iron ore production in the state for the year 2014-15. A series of decisions on the mining sector was here...

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  • Mineral production in August up 2.6 percent, valued at INR 17,264 crores
    India | Iron ore | 22nd October 2014

    Country's mineral production saw 2.6 percent growth in August year-on-year with its total value estimated at INR 17,264 crores. "The index of mineral production of mining and quarrying sector for the month of August 2014 was 2.6 percent higher as compared to August 2013," said an official...

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  • BDI surges with massive gains in capesize rates
    Others | Freight | 22nd October 2014

    Dry bulk freight markets trended higher on Tuesday as time charter rates recorded major upward adjustments across all the vessel segments. Baltic Dry Index (BDI) jumped up 117 points to at close 1,090 points as rates for capsize bulkers showed the major increments, while the panamaxes showed some...

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  • KoPT puts onshore bulk cargo handling tender in action
    India | Freight | 22nd October 2014

    Kolkata Port Trust (KoPT) has revived the onshore cargo handling tender for Haldia after the High Court paved way for moving ahead with the decision. KoPT in a corrigendum has said the tender sale would be held in view of the order from High Court, and it has decided to go ahead with the pending...

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  • President gives nod to coal Ordinance
    India | Coal/Coke | 22nd October 2014

    Ordinance to auction coal blocks through an electronic platform got the President's approval on Tuesday, paving the way for a "transparent" allocation process for mines to the private sector, even as trade unions and Left parties opposed the move. The long-awaited "reforms" in...

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  • Damodar Valley Corporation not shutting down any of its plants
    India | Coal/Coke | 22nd October 2014

    State-owned Damodar Valley Corporation denied reports that it had taken a decision to permanently shut down any of its power plants. Earlier, some independent reports have suggested that DVC authority had decided to shut down the Durgapur Thermal Power Station (DTPS) and the Bokaro Thermal Power...

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  • Commercial mining of coal to opened for private sector
    India | Coal/Coke | 22nd October 2014

    A day after deciding to e-auction coal mines cancelled by Supreme Court to captive users, Finance Minister Mr. Arun Jaitley on Tuesday suggested that commercial mining of coal will soon be opened for private sector firms. "They (private companies) are already there for end use (captive mining...

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  • JSPL confident of taking part in coal block auction
    India | Coal/Coke | 22nd October 2014

    JSPL, whose coal blocks were among those cancelled by the Supreme Court, on Tuesday exuded confidence that it will be allowed to take part in the proposed auction of mines. "Of course, we will be allowed to participate. Government has made it clear that those firms which are convicted would...

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  • Coal unions warn of strike; oppose e-auction, commercial mining
    India | Coal/Coke | 22nd October 2014

    Trade bodies representing around four lakh coal workers indicated that they oppose e-auction as well as the enabling provision in the proposed Ordinance for commercial mining by private players, and warned of a nation- wide strike if the Centre goes ahead with the changes. On Monday, Cabinet...

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  • Imports from Japan, South Korea positive outcomes of FTA
    India | Steel | 21st October 2014

    Seeking to allay concerns of the Indian steel industry over free trade agreements, senior commerce ministry officials indicated that the imports from Japan and South Korea are "certainly" positive outcomes of these pacts as it is mainly consumed by automobile industry meant for exports....

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  • Indian steel offers record more corrections
    India | Steel | 21st October 2014

    Spot steel continued to depict marginal corrections especially in the northern and eastern region as the reduced off take by the traders following slow down in constructions activities kept the prices range-bound. Local steel markets were weak as prices continued to trade in a tight range in...

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  • Jindal Saw’s net profit jumped 239 percent in Q-2
    India | Steel | 21st October 2014

    Jindal Saw recently reported 239 percent rise in net profit for the July-September quarter, 2014-15, at INR 74.60 crores on higher sales. The company which produces pipes used in different industries had clocked INR 22 crores net profit in the same quarter last fiscal, it said in a statement. Net...

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  • China produced 67.54 million tons of crude steel in September
    China | Steel | 21st October 2014

    Chinese crude steel output in the month of September totaled 67.54 million tons, as per the recently released data from National Bureau of Statistics. On a daily average basis, the production in September reached 2.25 million tons, a 1.4 percent rise from August, according to the data. Furthermore...

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