HEADLINES

    • Work on Steel Plant in Jharkhand's Manoharpur to start soon
      India | Steel | 31st August 2015

      Jharkhand Chief Minister Raghubar Das today said construction work of a proposed steel plant in mineral-rich Manoharpur in the West Singhbhum district will begin in a year's time. Mr. Das said the state government has a proposal to set up three more steel plants in the Kolhan region comprised of...

      More

    • BHP trims its forecast for China’s steel production by 15%
      China | Steel | 31st August 2015

      TO get a grip on demand, BHP Billiton CEO Andrew Mackenzie sends his staff out to count air conditioning units, calculate the depths of basements and work out the amount of steel in each building in various cities around China. After a regular six-month review of its data, including surveys in...

      More

    • Vedanta to review plant closure
      India | Iron ore | 31st August 2015

      Vedanta authorities said the company would review its decision on closure of its Lanjigarh plant only if the state government solves the raw material problem in the shortest possible time. "We have communicated our decision to the state government and requested it to arrange raw material for...

      More

    • Chinese iron ore prices drop near one-month low
      Iron ore | China | 31st August 2015

      Spot iron ore prices dropped to their lowest in nearly a month, under pressure from a weaker steel market in top consumer China that plunged Shanghai steel futures to a record low this week. Traders were not confident that a seasonal pickup in Chinese steel demand next month would be strong enough...

      More

    • Iron ore to head back below $US50 as Australia expands supply
      Iron ore | Others | 31st August 2015

      Iron ore will drop to $US50 a tonne at the end of September and $US45 by the end of the year. Ever expanding supplies from the world's largest producers mean prices will fall through the end of the year, according to Capital Economics. The London-based research firm joins banks including Goldman...

      More

    • Vedanta to halt production at Lanjigarh plant, too
      India | Iron ore | 28th August 2015

      After stopping aluminium production at Korba in Chhattisgarh, Anil Agarwal-owned Vedanta is preparing the ground to suspend production at Lanjigarh in Odisha due to rising cost and falling aluminium prices. The Lanjigarh unit has a capacity to produce five million tonnes of alumina from bauxite. It...

      More

    • Iron ore near one-month low, under pressure from weak China steel
      Iron ore | China | 28th August 2015

      Spot iron ore prices dropped to their lowest in nearly a month, under pressure from a weaker steel market in top consumer China that plunged Shanghai steel futures to a record low this week. Traders were not confident that a seasonal pickup in Chinese steel demand next month would be strong enough...

      More

    • Dry bulk ship owner optimistic about future prospects of the market
      Others | Freight | 28th August 2015

      Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of the oversupply problems of the market. The owner added in its second quarter report that the average spot rates so far in the third quarter are higher...

      More

    • Global coal prices seen below $US50 metric ton as output fails to ease
      Others | Coal/Coke | 28th August 2015

      Coal may drop below $US50 a metric ton this year as a supply glut combines with a slide in emerging market currencies that supports exports. The US dollar's gain to near its highest since at least 2005 against a basket of 10 leading currencies shielded earnings for producers from Australia to...

      More

    • Coal block allocation 4th round; formalities in last stage
      India | Coal/Coke | 28th August 2015

      Coal and Power Minister Piyush Goyal yesterday said the process and formalities of the fourth round of coal block auctions are in the last stage. "The central government is preparing for the fourth round of coal auctions. The process and formalities of the coal bloc blocks are at the last...

      More

    • JSPL may bid for ore mines in Odisha
      India | Steel | 27th August 2015

      To ensure raw material supply to its plants, Jindal Steel and Power may bid for iron ore mines in Odisha in forthcoming auctions, which are scheduled to start in October-November this year. The Naveen Jindal-led firm, which plans to expand the production capacity of its plant here from 2 million...

      More

oreteam indices

OreTeam Freight Index

Pellet Index India

Pellet Index International