HEADLINES

  • Orissa should seek e-auction permission from SC for already mined iron ore
    India | Iron ore | 18th September 2014

    Sighting the closed mines in the states and the already mined material stocked up at various closed mines, the Orissa government should immediately start following on the footsteps of Karnataka and Goa and address the concerns of iron ore consumers by adopting the e-auction methodology.

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  • China’s ban on high ash and sulphur coal to hit sea-borne market
    Others | Coal/Coke | 18th September 2014

    China is likely to ban highly polluting types of coal which contains high ash and sulphur, in an effort to curb air pollution in the country. The directive from China's top economic planning agency is aimed at low grade coal mainly coming from Indonesia and Australia. Ban which is likely to come...

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  • ArcelorMittal, NSSMC to invest $46.7 million in Calvert steel
    Others | Steel | 18th September 2014

    World's largest steel producer ArcelorMittal will invest $46.7 million in Calvert steel mill in Alabama in collaboration with Japanese JV partner NSSMC to reach the full capacity at the plant. "ArcelorMittal, in partnership with joint venture partner NSSMC, announced two important investment...

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  • Semi-steel prices inches marginally lower
    India | Steel | 18th September 2014

    Indian steel prices depicted marginal sideways movements primarily in the semi steel as the offers continued to slide downwards marginally. Secondary steelmakers were broadly inactive in the past few sessions which have brought some bearishness into the spot trade, but the overall mood is still...

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  • Reheating furnace at Rastriya Ispat Nigam Limited commissioned
    India | Steel | 18th September 2014

    The reheating furnace of the newly built structural mill at Rastriya Ispat Nigam Ltd., an entity of Visakhapatnam Steel Plant, has been commissioned. The structural mill had been constructed at a cost of INR 1,260 crores as part of expansion of 6.3 million ton per annum capacity. High speed, two-...

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  • Punjab’s secondary steel makers hold protests against tax officials
    India | Steel | 18th September 2014

    On Wednesday, secondary steel producers held a massive demonstration in Mandi Gobindgarh, the steel town of Punjab, protesting against the alleged harassment at the hands of some tax officials. The iron and steel unit owners also accused these officials of creating stumbling block in implementation...

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  • International tribunal rejects plea, asks Bolivian entity to pay JSPL
    India | Iron ore | 18th September 2014

    Sticking to its earlier order, an international tribunal has rejected a petition by a Bolivian state-run firm and asked it to pay the entire $22.5 million to Jindal Steel and Power Ltd. (JSPL) by next week, the Indian company said on Wednesday. International Chamber of Commerce (ICC) tribunal had...

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  • Capesize rates continued to fall putting pressure on BDI
    Others | Freight | 18th September 2014

    Dry bulk freight markets slipped again on Wednesday, as Baltic Dry Index (BDI) was weighed broad based decline in capesize rates and marginal downfall in the panamax rates. Main index closed 26 points lower at 1,124 points. Weakness is creeping back into the freight markets after broad based gains...

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  • Indian Railways earnings up by over 16.7 percent in August
    India | Freight | 18th September 2014

    In August 2014, Indian Railways generated INR 7,906.93 crores revenue as compared to INR 6,775.43 crores during the same period last year, registering an increase of 16.7 percent. Railways generated INR 40,358.24 crores from freight traffic during April-August 2014 as compared to INR 36,465.58...

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  • ICVL for recasting itself, moves to Steel Ministry
    India | Coal/Coke | 18th September 2014

    International Coal Ventures has approached the Steel Ministry with a proposal to restructure itself as NTPC and CIL are no longer willing to stay put in the special purpose vehicle as promoters. Government sources said the proposal would be taken up soon for consideration and if the “...

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  • Coal stock position at thermal plants to improve in a month
    India | Coal/Coke | 18th September 2014

    Critical coal stock position at thermal power plants across the country is likely to stabilize after about a month. According to an official, the coal production at the mines of Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL) and Central Coalfields Ltd (CCL) is likely to improve only...

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  • Physical iron ore declines; futures also showed downtrend
    Iron ore | China | 17th September 2014

    Iron ore prices came under more pressure from the fundamentals side, as the buyers maintained a safe distance after a short rally. Prices are expected to fall further as the supply glut combined with the weak steel demand are weighing on the sentiments, which could be seen in steel and iron ore...

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  • NSSMC rolled over prices for H-beam in September
    Others | Steel | 17th September 2014

    Leading Japanese steelmaker Nippon Steel & Sumitomo Metals Corporation (NSSMC) recently indicated that it has rolled over its domestic prices for H-beam for September deliveries. The company has kept the prices unchanged for several months after the company increased the prices by JPY 1,000 per...

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  • SAIL’s disinvestment to be held between 24-26 September
    India | Steel | 17th September 2014

    Disinvestment of five percent stakes in state-owned steelmaker, Steel Authority of India Ltd. (SAIL) is likely to take place between September 24 and 26. The sale of 5 percent stakes (about 20.65 crores shares) of SAIL at the current market price could fetch the exchequer around INR 1,600 crores....

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  • Indian steel markets record some corrections in ingots and billets
    India | Steel | 17th September 2014

    Finished steel prices were mostly stable in the initial session of trade on Wednesday, however the semi finished steel segment depicted some marginal corrections taking cues from the regional demand. Steelmakers are eying the upcoming festive season to boost the demand for steel, as the buyer...

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