HEADLINES

  • Iron ore move sideways; heads into biggest monthly gain
    Iron ore | China | 31st July 2014

    Morning sentiments in the sea-borne iron ore markets showed that the prices would be range-bound for some time, as there was no real catalyst. Even the futures markets depicted sideways movement, with little support from the physical trade. China’s official manufacturing PMI is slated for...

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  • India’s Steel Secretary highlights need to increase production
    India | Steel | 31st July 2014

    India’s Steel Secretary Mr. G. Mohan Kumar recently underlined the need for increasing steel production in the country. He said "It is necessary to add steel production capacities in the country as the economy is projected to grow at seven to eight per cent over the next decade"....

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  • Spot steel offers depict marginal upsides
    India | Steel | 31st July 2014

    Spot prices depicted slight upward movement in the physical steel markets mainly on the news about the primary steelmakers increasing their product prices in the month of August. Meanwhile, the fundamentals are still sluggish and the participants are expecting more corrections in the semi steel...

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  • Rourkela Steel Plant registers outstanding performance and saves cost
    India | Steel | 31st July 2014

    Electronics and Electrical Services (E&ES) Department of Rourkela Steel Plant (RSP) has registered an outstanding performance achieving cost saving of INR 4.71 crores. Apart from its routine work the department carried out various innovative jobs in repairs, innovations and attending breakdowns...

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  • SAIL may invest INR 1.5 lakh crores for raising capacity to 50 mtpa
    India | Steel | 31st July 2014

    SAIL is likely to invest around INR 1.5 lakh crores to raise its hot metal making capacity to 50 million tons per annum (mtpa) from 23 mtpa, planned under ongoing modernization and expansion by 2025, the Parliament was informed on Wednesday. “Steel Authority of India Ltd. has prepared a draft...

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  • RINL upgrades blast furnace and sinter heat recovery plant
    India | Steel | 31st July 2014

    Steel Secretary Mr. G. Mohan Kumar inaugurated the upgraded Blast Furnace -1 (Godavari) and Sinter Heat Recovery Power Plant (SHRPP) of 20.6 MW at the plant site. Total cost of modernization including all auxiliaries is estimated at INR 600 crores. Volume of the Blast Furnace-1 has been increased...

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  • With new government in place, FIMI expects good days for mining industry
    India | Iron ore | 31st July 2014

    Iron ore miners are pinning hopes on the new government for revival of the industry which is bogged down by a plethora of problems. The industry is facing issues like high export duty, ban on production and expensive railway freight meant for exports which were alien to iron ore miners in the not-...

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  • NSL Consolidated restarts its Indian operations
    India | Iron ore | 31st July 2014

    As per an independent report, Australian miner NSL Consolidated has restarted its dry beneficiation plant in India, with first iron-ore sales expected before the end of the September quarter. Earlier, the company has announced a two-phase plan for its dry beneficiation plant and to start processing...

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  • BDI continue to gain with increments in across vessel segments
    Others | Freight | 31st July 2014

    Freight markets stayed in green territory lead by the marginal gains in capesize and supramax segments on Wednesday, while the mid-size vessel segments were broadly unchanged. Global gauge of dry bulk freight, Baltic Dry Index (BDI) advanced 7 points to end at 754 points, as the trading sentiments...

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  • Work on 3 crucial rail links for coal to be over by December 2016
    India | Freight | 31st July 2014

    Three crucial rail link projects that will help evacuate and deliver over 200 million tons of coal from mines in Jharkhand, Chhattisgarh and Odisha are likely to be completed by December 2016, a senior government official recently indicated.

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  • Sea-borne coking coal prices remain range-bound
    Others | Coal/Coke | 31st July 2014

    Weakened interest primarily from the sell side kept the prices range-bound for sea-borne coking coal in the Asian region. There were fewer offers in the market during the first half of the week as Chinese demand was impacted due to lower priced domestic material, while the Indian buyers were kept...

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  • ICVL to buy Rio Tinto's coal assets in Mozambique for $50 million
    India | Coal/Coke | 31st July 2014

    In its first acquisition since inception in 2009, state-owned International Coal Ventures Ltd (ICVL) will buy Rio Tinto's Mozambique coal assets having estimated reserves of 2.6 billion tons for $50 million (about INR 300 crores). ICVL signed the pact on July 28 to buy Rio Tinto's 65 percent stake...

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  • Nepal prepares to sign power trade deal with India
    India | Coal/Coke | 31st July 2014

    Energy-starved Nepal is gearing to ink a major power trade deal with India during the upcoming visit by Prime Minister Mr. Narendra Modi, who will visit the Himalayan nation on Sunday for his first official visit to the country. Three major political parties of Nepal, the Nepali Congress, CPN-UML...

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  • Mytrah Energy to add 300 MW by next year at INR 2,000 crores
    India | Coal/Coke | 31st July 2014

    Mytrah Energy recently indicated that it will add 300 MW wind power to the existing 527 MW by the end of next year entailing the investments of INR 2,000 crores. The company clocked INR 350 crores revenue in the last fiscal. The investment for additional power generation will be in the range of INR...

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  • Panel recommends green nod to Fatehpur East Coal mine
    India | Coal/Coke | 31st July 2014

    A high level committee has recommended green clearance for Fatehpur East Coal Pvt. Ltd’s mining project in Chhattisgarh but with certain riders. Expert Appraisal Committee (EAC) after detailed deliberations recommended the proposal for granting environment clearance subject to specific...

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  • Spot iron ore ink marginal gains; futures retreat
    Iron ore | China | 30th July 2014

    Trading sentiments were mostly mixed following the flurry of trades in the last session, but the fall back in the futures kept the physical markets quiet. There is a lack of direction, but the August might see some of the steel mills rebuilding inventories as their production has remained near the...

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