HEADLINES

    • SAIL POSCO jointly to set up 3 mtpa ISP in Jharkhand
      India | Steel | 22nd January 2015

      Posco and SAIL would jointly set up a 3-million-ton per annum (mtpa) integrated steel plant (ISP) in Jharkhand with an estimated investment of about Rs 18,000 crore. Posco’s global CEO Kwon Oh-Joon, India CMD Gee Woong Sung and South Korea’s Ambassador to India Joon-gyu Lee met Prime...

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    • Japan likely to support improvement of ship recycling at Alang
      India | Scrap | 22nd January 2015

      Japan is likely to help India improve facilities and processes at the Alang-Sosiya ship recycling yard following the Ship Recycling Industries Association (SRIA) agreeing to the Japanese condition of adhering to the norms of the Hong Kong Convention (HKC), 2009 on ship recycling, as per the latest...

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    • Iron ore prices likely to sink below 60 dollars a ton
      India | Iron ore | 22nd January 2015

      Iron ore prices are likely to sink below 60 dollars if the current situation in the demand supply market doesn’t improve soon. Iron ore stockpiles are near the 100 million tons mark in China, Chinese mills are selling cargoes back into the spot market, their inventory levels are well over the...

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    • Indian domestic freight rates likely to turn cheaper
      India | Freight | 22nd January 2015

      The recent cut in prices of petrol and diesel prices is likely to result in a 2.5-3 per cent drop in the cost of moving goods by road. However, the increase in the excise duty and no relief in the inter-state taxes has still keep the disappointment stable. Transporters are although unhappy with the...

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    • L&T Kattupalli Port welcomes MOL’s maiden call
      India | Freight | 22nd January 2015

      On January 17, L&T Kattupalli Port welcomed MOL’s MV MOL Distinction, the first trial call by the Japanese line. The vessel berthed at 1730 hours, exchanged 1,980 TEUs and sailed the next day at 1130 hours as per the reports. Importers and exporters with global supply chains have been...

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    • Govt begins allocation of cancelled coal blocks to state companies
      India | Coal/Coke | 22nd January 2015

      The government has finally started with the process of allocating cancelled coal mines to state owned firms. The initial allocation would be done for 36 blocks. Of these 36 coal blocks, one mine will be given to the steel sector while the rest will be given to the power sector. “Today we are...

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    • RINL bags Organisational award for Excellence in Suggestion Scheme
      India | Steel | 21st January 2015

      Visakhapatnam Steel Plant of Rashtriya Ispat Nigam Limited (RINL) won the first prize in ‘Organisational award for Excellence in Suggestion Scheme’ under Steel Industry category. This is the 10th time that the steel plant has won the prestigious award.

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    • BHP iron ore output up 16 percent in Dec'14
      Iron ore | Others | 21st January 2015

      BHP Billiton lifted iron ore output by 16 per cent compared with the same period a year earlier to 56.4 million tons in Dec’14. Similarly RioTinto raised its output by nearly 12 per cent over the same period, announced on Monday. Both companies have lifted output over the past year despite a...

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    • Atlas cuts production as iron ore market shrinks
      Iron ore | Others | 21st January 2015

      The company (Atlas) plans to ship about 3.8 million tons of iron ore in the December quarter, but still the average price of the commodity, is still lower than all its cash costs which is 67 dollars per wet metric ton. The company had stated that, it had prepared different plans in order to cut...

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    • KIOCL mine allotment discussion with CM this week
      India | Iron ore | 21st January 2015

      KIOCL which was in talks earlier last year for receiving iron ore mines from the government to run its pellet plant, is now actually witnessing some action on the political front. Chief minister Siddaramaiah and officials in Bengaluru are set to meet this week to discuss on the situation at KIOCL...

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    • Orissa wants more mines on auction list, opposes centre
      India | Iron ore | 21st January 2015

      The Odisha government on Monday opposed Centre's decision to exempt mines due for second and subsequent renewals from the auction process and demanded more funds for development works in districts affected by mining as per the leading news daily. State steel and mines minister Prafulla Mallick...

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    • Iron ore prices slip again and steel prices discounted further
      Iron ore | China | 21st January 2015

      After the dismal performance seen at the beginning of the week, Chinese steel futures showed little reaction to the plunge in the Shanghai stock markets yesterday, while physical prices extended falls for the ninth straight week, led by weaker spot rebar. The most active May rebar contract on the...

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