HEADLINES

  • Spot steel offers move sideways; 1-2 percent hike through the week
    India | Steel | 18th April 2014

    Early trade on Friday saw the steel offers moving sideways in the semi steel and long steel segments, while flat products held on to the previously quoted levels with the slight improvement in the sentiments was passed on from the other segments. Market conditions have started signs of improvement...

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  • Mr. Narendra Kothari to be NMDC’s Chairman
    India | Iron ore | 18th April 2014

    As per an independent report, Appointments Committee of the Cabinet (ACC) has chosen Mr. Narendra Kothari, CEO of SAIL's Burnpur plant, to take over as the new Chairman and Managing Director of state-run iron ore producer NMDC. "The ACC, headed by Prime Minister Manmohan Singh, has cleared Mr...

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  • Iron ore and steel futures continue to fall; physical iron ore under pressure
    Iron ore | China | 18th April 2014

    Caution came back to the market, after the flurry of transactions in the previous session, which recorded around a million tons of iron ore being sold at the Singapore based physical trading platform, globalORE. Easter holidays have started, although the Chinese markets remained open, but the trade...

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  • NSSMC ready to ship world's longest rail tracks
    Others | Steel | 18th April 2014

    Nippon Steel & Sumitomo Metals Corp., Japan's top steelmaker recently indicated that it has built a system to make and ship the longest pieces of railway track in the world, extending to 150 meters (492 feet). The company indicated that its extra-long rails are more durable than shorter ones...

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  • SAIL files FIR against Kashmir Steel alleging brand misuse
    India | Steel | 18th April 2014

    According to a recent report, India’s state-owned steelmaker SAIL's marketing arm CMO has filed an FIR against its authorized dealer Kashmir Steel Corporation alleging misuse of registered trademarks. "Operating as a dealer of SAIL since 2005, Kashmir Steel Corporation has clandestinely...

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  • Indian iron ore miners looking up to next government to resume operations
    India | Iron ore | 18th April 2014

    According to an independent report, the harried iron ore miners of India, who have lost over two years of business, are pinning hopes on the next government to clear the statutory roadblocks and encourage exports. "We hope the next government will clear the roadblocks faced by the iron ore...

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  • Panamax rates improve for second straight session; BDI still drops
    Others | Freight | 18th April 2014

    Seemingly, the freight markets are now closing on to price floors, as the time charter rates for all the vessels are now between $6,000 to $9,500, which indicates that any further fall may not be possible. Although, the main index marked another day of decline as the charter rates of capesize and...

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  • Weekly coal production in the US slips marginally by 1 percent
    Others | Coal/Coke | 18th April 2014

    As per the recent EIA figures, the US coal production stood around 18.9 million short tons for the week ending on 12th March, depicting a decline of just about 1 percent from around 19.1 million short tons produced in the previous week. Furthermore, the coal production in east of the Mississippi...

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  • Indian government to clarify coal bidders’ concerns next week
    India | Coal/Coke | 18th April 2014

    On Thursday, government appointed inter-ministerial committee (IMC) discussed issues raised by bidders for three coal blocks put up for auction and indicated that it will clarify their concerns in the next week. IMC meeting, headed by Coal Secretary Mr. S.K. Srivastava, lasted more than two hours....

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  • Trades help stabilizing physical iron ore; sentiments still negative
    Iron ore | China | 17th April 2014

    Flurry of trades in the first session on Thursday couldn’t lend support to the market, which depicted weakened sentiments. It was indicated that were many cargoes traded at globalORE platform, but the transaction were between 2-3 traders, and the market was still far from recovery, with steel...

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  • MoEF to decide on JSPL's Jharkhand steel mill by April-end
    India | Steel | 17th April 2014

    According to an independent report, India’s central government would consider later this month granting environment clearance to the proposed 6 million ton steel plant by Jindal Steel and Power Ltd. in the state of Jharkhand. "The Ministry of Environment and Forest (MoEF) will consider...

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  • Ghana bans export of ferrous scrap
    Others | Scrap | 17th April 2014

    Earlier in the week, African nation of Ghana banned the exports of ferrous scrap (with immediate effect), in order to increase the availability of raw material for its ailing steel industry. Country’s Trade Minister Mr. Haruna Iddrisu indicated that this ban comes into effect immediately,...

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  • Decline in capesize rates pushes BDI further down
    Others | Freight | 17th April 2014

    Further weaker sentiments for capesize vessels in both the regions weighed down on the main index, while the oversupply of tonnage being another big problem for the market to counter amid the lack clear demand fundamentals. Markets stayed in the red zone for the dry bulk segment with Baltic Dry...

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