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  • China daily steel output rises to near record high in September

    21 Oct 2014
    China's daily crude steel runs rose 1.3 per cent in September to the highest level in three months, data from the country's statistics agency showed, suggesting mills were still close to full capacity despite weak demand and a steep slump in prices.
  • India delays decision on Posco's $12bn steel plant

    19 Oct 2014
    The Indian government has again delayed a decision on permitting Posco to mine iron ore, seeking more clarifications from Odisha where the South Korean company has waited nine years to set up a $12 billion steel plant.
  • Pakistan Steel seeks additional bailout packag

    19 Oct 2014
    Pakistan Steel Mills, a relic of state ownership threatened by losses and bloated costs, needs an additional bailout package from the government if it is to achieve production target of over 75 percent by February 2015, an official said on Saturday.
  • Iron ore imports poised for 15% growth

    18 Oct 2014
    China's iron ore imports are set to rise to around 900 million metric tons this year, a 15 percent year-on-year growth, on the back of the country's growing steel production base and higher output capacity of overseas mining giants, experts said on Friday.
  • POSCO mulls importing Russian coal via North Korea

    15 Oct 2014
    South Korea’s top steelmaker POSCO and shipper Hyundai Merchant Marine are exploring the possibility of importing Russian coal via North Korea ahead of the pilot program of the Rajin-Khasan logistics project scheduled for next month, industry sources said
  • Tata Steel to sell long products unit in Europe

    15 Oct 2014
    Tata Steel has announced plans to sell its European long products division seven years after first stepping into the European steel market, as it sharpens its focus on the more lucrative and larger strip products division.
  • Rio Tinto to exceed iron ore target, says UBS

    14 Oct 2014
    UBS is tipping Rio could exceed its targeted iron ore production record of 295 million tonnes this year, and says the mining giant "will continue to be the most competitive player in the iron ore space", amid mounting criticism of its expansion strategy.
  • Egypt's Steel rebar prices increase 5.9% in September

    14 Oct 2014
    Egypt's Steel rebar prices increased by 5,9 percent in Septemer.2014, reaching an average of LE5315.50 per ton, compared to LE5,017.80 in September 2013, date released by he Central Agency for Public Mobilization and Statistics (CAMAS) showed on Tuesday.
  • JSE stocks up, iron ore stocks rise

    13 Oct 2014
    South African stocks gained on Monday led by mining companies such as Assore and Kumba Iron Ore after data showed Chinese imported more iron ore than expected in September.
  • China’s coal imports slump

    11 Oct 2014
    Chinese imports of iron ore and coal dropped sharply in August from the month before amid slackening demand and abundant supply, with rapidly falling prices failing to stoke appetite in the world’s top buyer of those commodities.
  • Krakatau Steel Sets Off on a Profitability Drive

    09 Oct 2014
    State-controlled steel producer Krakatau Steel has set a target to cut its costs by $173 million this year to reduce its losses and turn its financial performance back into the black, its chief said on Tuesday.
  • South Korean exports expected to grow in Q4: poll

    09 Oct 2014
    South Korea's export growth is likely to rise in the fourth quarter led by the semiconductor and petrochemical sectors, while automakers and steelmakers may suffer, the state-run Korea Trade-Investment Promotion Agency (KOTRA) said Thursday.
  • BHP price cuts questioned

    07 Oct 2014
    Analysts are split on whether BHP Billiton can achieve its ambitious drive to claim Rio Tinto's mantle as the cheapest exporter of iron ore to China.
  • Chinese long-steel imports distorting Indian market

    06 Oct 2014
    Steel Authority of India Ltd Chairman Chandra Shekhar Verma is concerned about the fact that in August this year, factory output in China grew the least in about six years. His worries, heightened by a slowdown in China's housing market despite new stimulu
  • China to cut steel exports in 2015, says association

    06 Oct 2014
    China will likely decrease steel exports in 2015 following the cancellation this year of export incentives such as tax rebates, a China Iron Ore and Steel Association (Cisa) official told Reuters on Monday.
  • Iran boosts steel output in bid to buffer sanctions blow

    05 Oct 2014
    Iran is increasing steel exports and courting foreign investors in an ambitious bid to quadruple steel output in a decade and replace at least a small part of the massive revenue it loses due to sanctions on its oil sales.
  • Steel outlook not so bright

    05 Oct 2014
    With world steel demand continuing to lag supply, prices are expected to stay weak. Expanding steel production in China, the world’s largest producer and consumer of steel, even as domestic consumption tapers has been the single biggest drag on global pric
  • Ternium buys Usiminas stake

    04 Oct 2014
    Steelmaking group Ternium SA agreed on Thursday to pay 616.7 million reais ($249 million) for an additional stake in Brazilian rival Usiminas, as a tussle for control of the country’s largest flat steel producer heats up.
  • Iran to raise price of iron ore exported to China

    04 Oct 2014
    The price of Iranian iron ore exported to China has increased by two dollars following a visit to Beijing by a delegation of Iranian private sector, IRNA agency reported refferring to Iranian Association of Iron Ore Producers and Exporters.
  • Iran to raise price of iron ore exported to China

    04 Oct 2014
    The price of Iranian iron ore exported to China has increased by two dollars following a visit to Beijing by a delegation of Iranian private sector, IRNA agency reported refferring to Iranian Association of Iron Ore Producers and Exporters.
  • Cheap coal attracts small buyers for mines

    02 Oct 2014
    Russian steelmaker Severstal got $60 million when it sold PBS Coals in July, less than a tenth of what it paid for the Appalachia mining company six years ago.
  • Steel makers reduce prices by Rs. 500-750/tonne

    01 Oct 2014
    Stagnant demand amidst higher supplies forced almost all domestic steel producers to prune prices for the first time in the current fiscal ranging from Rs. 500-750 a tonne providing some relief to end-use sectors.
  • Pakistan Steels achieves 22pc capacity utilization mark

    30 Sep 2014
    Pakistan Steel Mills has already achieved 22% of capacity utilization (CAPU) till September 20 and is expected to touch 45-50% mark by next month, said its Chief Executive Officer, Major General (Retd.) Zaheer Ahmed Khan.
  • POSCO develops powerful corrosion-resistant stee

    29 Sep 2014
    South Korea’s largest steelmaker POSCO on Monday said it has developed a super corrosion-resistant stainless steel product that can be used to make steam condensers for nuclear power plants.
  • Emirates Steel targets huge Indian market

    28 Sep 2014
    Emirates Steel, the only integrated steel manufacturer in the UAE, will focus on strengthening its presence in the growing Indian market, a senior official has said.
  • China steel demand shrinks

    27 Sep 2014
    China’s steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

    27 Sep 2014
    The Economic Coordination Committee of the Cabinet (ECC) here Friday approved import of 185,000 tons of Urea through SABIQ under due process and directed that a detailed proposal to meet the remaining requirement of 415,000 tons may be submitted to next it
  • China Steel Mills Hawk Rebar on Alibaba to Export Surplus

    25 Sep 2014
    Tangshan Donghua Steel Enterprise Group Co. in China was so eager for new customers overseas that it turned to cold-calling manufacturers and tried hawking metal on the e-commerce website run by Alibaba Group Holdings Ltd.
  • Chinese steel companies are hit by slowing economy

    25 Sep 2014
    Two Chinese steel companies said they were having trouble paying back lenders, indicating that China's slowing economic growth and a steel glut were taking an increasing toll on the industry.
  • Chinese steel, iron ore struggle near record lows

    24 Sep 2014
    Chinese steel and iron ore futures hovered near their lowest levels on record on Wednesday because of a supply glut that has slashed spot iron ore prices by almost 41 percent this year.
  • Iron ore seen at $80 long term as China steel output growth slows

    22 Sep 2014
    MELBOURNE: Iron ore is likely to hover around $80 a tonne in the long term amid limited growth in China's steel output, an industry association official said on Monday, discounting any sharp recovery in prices as a supply glut weighs on the market.
  • POSCO Energy launches Pospower

    22 Sep 2014
    POSCO Energy, a unit of POSCO, said Monday that it has entered the coal-fired power generation business by launching Pospower. The nation’s largest independent power company had previously focused on gas-fired thermal power.
  • Steel re-rolling mills’ new body

    21 Sep 2014
    Pakistan Steel Re-Rolling Mills Association has elected new executive committee including Shahnawaz Ishtiaq as new chairman, Mian Shoaib Arshad as Senior vice chairman, Sufi Muhammad Azeem as vice chairman (Lahore Circle) and Hanif Jewani as vice chairman

    21 Sep 2014
    The Turkish steel sector welcomes a tender from the Trans Anatolian Gas Pipeline (TANAP) project for the procurement of steel cables
  • PSM achieves 25pc production capacity: CEO

    20 Sep 2014
    Pakistan Steel Mills regular production has been gaining momentum and the production capacity has risen to 25 per cent from a paltry 3 per cent in May 2014 owing to the financial package of Rs 18.5 billion specially approved by the ECC for its revival.
  • Iron ore price slumps for third day

    18 Sep 2014
    The near 4 per cent bounce in the iron ore price on Monday has quickly been forgotten as the commodity fell for the third straight day overnight.
  • Stable profit outlook for JSW Steel

    18 Sep 2014
    The market’s nervousness over mining issues is evident from the volatility in metal and mining stocks, some of which have fallen as much as 25 per cent in the past two months. Nevertheless, JSW Steel continues trading firm and, at Rs 1,336 (up seven per ce
  • Posco sees Indonesia as a hot spot

    17 Sep 2014
    Sweat comes easily and often in Indonesia, where average daytime temperatures reach a humid 33 degrees Celsius (91 degrees Fahrenheit). And the hottest place in the country just might be Krakatau Posco, Southeast Asia’s first integrated steel mill.
  • Cheaper iron ore to drive imports

    17 Sep 2014
    The drop in iron ore prices in the past six months will hugely benefit the Indian steel industry in terms of import. Domestic steel mills are set to import 15 million tonnes of ore during 2014-15, a five-fold jump from the 3.05 million tonnes imported in 2
  • SAIL shares to hit markets between Sept 24-26

    16 Sep 2014
    The disinvestment of five per cent stake in state-run Steel Authority of India (SAIL) is likely to happen between September 24 and 26, a senior government official said on Tuesday.
  • Vale Signs Iron-Ore Agreement With Chinese Shipper Cosco

    13 Sep 2014
    Vale (VALE) SA signed an accord with China Ocean Shipping Co. (651) to transport iron-ore with giant vessels known as Valemax as the world’s largest producer seeks to curb costs amid slumping prices of the steel-making ingredient.
  • Coal suppliers scale back shipments to deal with low prices

    13 Sep 2014
    Teck Resources Ltd. is scaling back shipments of steelmaking coal to China as a proportion of overall sales as part of its strategy to deal with low prices in a market that is severely oversupplied, a company executive said Friday.
  • Russian FTA could kill Vietnam's steel market

    08 Sep 2014
    Domestic steel investors anticipate industry-wide bankruptcy as the government prepares to lift export tariffs on over a hundred products from Russia, the world’s leading steel producer
  • China iron ore, coal imports slump on weak demand

    08 Sep 2014
    China, the world's top buyer of iron ore, coal and soybeans, saw imports of those commodities fall sharply in August from the previous month amid slackening demand and abundant supply, while rapidly falling prices also kept buyers on the sidelines.
  • Nippon Steel to restart plant

    07 Sep 2014
    Japan’s top steel maker Nippon Steel & Sumitomo Metal Corp said on Friday it plans to restart its Nagoya steel plant as early as late Friday after it was shutdown due to a fire on Wednesday, its fifth accident this year.
  • India to be third largest steel maker by next year

    06 Sep 2014
    India would become the third largest steel maker, with an installed capacity exceeding 110 million tonnes per annum (mtpa) by next year when the ongoing expansion projects of SAIL and some private steel makers come on stream. This is in line with the Naren
  • Stemcor Tries to Sell Mining Assets, State in the Dark

    04 Sep 2014
    Even as Stemcor Holdings, the London- headquartered steel trading company, is looking for a suitable buyer to sell its Odisha assets, including two mines and a steel manufacturing unit, the State Government is still clueless on the goings on.
  • Tata Motors to supply 2,700 buses under JnNURM–II scheme

    03 Sep 2014
    Tata Motors has won orders for more than 2,700 buses under the Jawaharlal Nehru National Urban Renewal Mission-II (JnNURM), a city-modernisation scheme launched by the Indian government. The financial terms of the orders have not been disclosed.
  • Rio Tinto debt investors enjoy low iron ore prices

    03 Sep 2014
    Rio Tinto Group debt investors are learning to love the lowest iron-ore prices in five years as the world’s second-largest miner reins in investment and focuses on digging up the steelmaking material at the lowest possible cost.
  • Imported steel consignments release at lower rate

    02 Sep 2014
    The Federal Board of Revenue (FBR) has allowed provisional release of steel scrap imported by commercial importers at lower rate with the condition of postdated cheque submission against differential amount, official sources at Pakistan Customs said on Mon
  • KIOCL plans iron ore pellet plan

    01 Sep 2014
    Indian producer KIOCL aims to set up a 2mn t/year pelletisation plant to supply fellow state-controlled Steel Authority of India's (Sail) Bokaro steel plant in east India.
  • Mining Scam Report Exhumes Muck in Manmohan Government Core

    31 Aug 2014
    The Justice MB Shah Commission report tabled in Parliament earlier in August, but kept confidential by the government, has exposed massive irregularities in iron ore and manganese mining in Jharkhand to the tune of `14,000 crore. The voluminous report deta
  • PSM receives Rs2.125b more

    30 Aug 2014
    Pakistan Steel Mills has received Rs 2.125 billion out of Rs 2.875 billion of 4th installment of 1st tranche of its restructuring package of Rs 18.5 billion approved by the federal government.
  • The steel sheet market undercuts suggestions of overall weakness

    28 Aug 2014
    There were two interesting news items in the American steel world this week: year-to-date US imports are up 37% from last year while domestic mill capability utilization recently topped 80%, after being in the 70-79% range most of the last few years, climb
  • NZ Steel boosts Bluescope with extra ironsand exports

    26 Aug 2014
    The New Zealand operations of Australian steel products maker Bluescope provided a substantial boost to earnings through a sharp increase in ironsand exports, better margins on steel thanks to lower coal costs, and increased steel sales as the domestic con
  • Steel industry back on the growth path

    26 Aug 2014
    Steel consumption in the country grew at a slower pace during April-July 2014 at 0.6 per cent, but a 30 per cent growth in exports helped swing the demand-supply balance in favour of demand.
  • Iron ore price slumps below $US90

    25 Aug 2014
    The iron ore price has continued its retreat overnight, falling to a fresh two-month low on persistent worries that growing supplies will not be met with rising demand.
  • Steel makers win anti-dumping case

    24 Aug 2014
    The United States has approved anti-dumping duties against South Korea and other producers of steel pipes for the energy sector, a victory for domestic producers hoping to benefit from a boom in the US shale oil and gas industry.
  • Baosteel profit drops 14.8pc

    24 Aug 2014
    Baoshan Iron & Steel Co Ltd (Baosteel), China’s biggest listed steelmaker by stock market value, posted a 14.8 percent fall in first-half net profit, reflecting weak prices and slackening demand growth, the company said on Friday.
  • Hebei's July steel output drops 6pc

    21 Aug 2014
    Hebei, the top steel province on the mainland, saw output fall 6 per cent on the year to reach its lowest rate in eight months, hit by weaker demand as well as a state campaign to shut polluting plants and reduce a profit-sapping capacity glut.
  • Baosteel, Warburg Pincus buy Chinese gas assets

    19 Aug 2014
    China’s Shanghai Baosteel Gases and global private equity firm Warburg Pincus said on Tuesday they have agreed to buy industrial gas assets from state-controlled Henan Jinkai Chemical Investment Holding for Rmb3 billion ($488 million).
  • UAE steel focuses on high strength value added products

    19 Aug 2014
    Emirates Steel, UAE’s largest steelmaker, said it would be focusing on manufacturing high margin, high strength Value Added Products (VAPs) as the demand for quality steel picks up in the Middle East region and across the globe.
  • JSW Steel buys Welspun Maxsteel for Rs 1,000 cr

    18 Aug 2014
    Heading towards a goal of 40 million tonnes a year capacity, JSW Steel, the country’s third largest maker of the product, announced a deal with Welspun Enterprise to acquire all of Welspun Maxsteel for Rs 1,000 crore.
  • $248m cash injection for African Minerals

    17 Aug 2014
    Sierra Leone-focused iron ore miner African Minerals has named a new chief executive and obtained access to $248 million in cash through an agreement with Chinese partner Shandong Iron and Steel Group.
  • JSW Steel in talks to buy Welspun Maxsteel

    16 Aug 2014
    JSW Steel is in talks with Welspun Corporation to acquire the latter’s 100 per cent stake in sponge iron maker Welspun Maxsteel for over Rs.1,000 crore. Welspun Maxsteel has its manufacturing unit in Raigad, Maharashtra close to JSW Ispat’s steel plant at
  • Tata Steel plans Rs.14,000 cr capex

    14 Aug 2014
    Tata Steel has chalked out a Rs.12,000-14,000 crore capital expenditure plan to fund expansion of its Kalinganagar plant during the current financial year.
  • Govt to sell 10% stake in Coal India: Goya

    14 Aug 2014
    The government plans to sell a 10% stake in state-owned Coal India Ltd, Power and Coal Minister Piyush Goyal said on Thursday. This will make it one of the many divestments proposed by the new government to bolster its stressed finances.
  • Brazil's steel sector urges aggressive structural changes

    13 Aug 2014
    A major and aggressive change is needed to solve Brazil's structural problems, as the steel sector faces its most critical situation. "Brazil's steel sector is at imminent risk of starting to cut jobs due to the increasing lack of business perspectives,"
  • CHINA: Kobe Steel and Angang start JV

    12 Aug 2014
    Kobe Steel and China's Angang Steel Company, a subsidiary of Anshan Iron & Steel Group Complex, have established a joint venture known as Kobelco Angang Auto Steel Co in China to produce and sell cold-rolled high-strength steel sheet for automobiles.
  • Nippon Steel signs accord on Indonesia tie-up

    11 Aug 2014
    Nippon Steel & Sumitomo Metal Corp. said Monday it signed a definitive agreement with an Indonesian steelmaker the same day on their joint venture to make and sell automotive steel sheets
  • ArcelorMittal benefits from steel demand rise, restructuring

    11 Aug 2014
    The 2008-09 financial crisis dragged the world into a recession and put paid to the ambitions of many steel groups, including a few in India, to have global production footprints. Though European steel demand has started reviving, primarily due to an impro
  • Bhushan Steel

    10 Aug 2014
    The stock of Bhushan Steel tanked 44 per cent last week. This followed news of the alleged involvement of Neeraj Singhal, the company’s Vice-Chairman and Managing Director in the Syndicate Bank bribery case.
  • China’s iron ore imports rise

    10 Aug 2014
    China’s iron ore imports jumped nearly 11 percent in July from the previous month, customs data showed, as buyers took advantage of lower prices for the steelmaking raw material and stocked up, despite weak domestic steel demand. Demand from China, which b
  • SAIL backs out from Sindri investments worth Rs 35k cr

    09 Aug 2014
    Steel Authority of India (SAIL) will no longer invest in the revival of the Sindri unit of loss-making Fertilizer Corporation of India Ltd. The plan was to set up a new 1.15 million tonnes per annum (mtpa) fertiliser plant, a new steel mill of 5.6 mtpa cap
  • Unicoil sets standards in pre-painted steel industry

    06 Aug 2014
    Universal Metal Coating Company Ltd. (Unicoil) — based in Jubail Industrial City — has been accredited with both the Saudi Quality Mark (SASO) and the Emirates Quality Mark (ESMA) by the concerned authorities of standardization and metrology for Unicoil’s
  • Global steel demand turnaround to give HEG a growth spark

    06 Aug 2014
    HEG is probably at an inflection point. The manufacturer of graphite electrodes, a material used in electric arc steel furnaces, is set to benefit from a gradual turnaround in global steel demand. Increasing popularity of electric arc furnaces where the el
  • India proposes iron ore pellets export to Iran

    05 Aug 2014
    India's KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd) is proposing to open up an export mechanism with Iran for iron ore pellets, according to Chairman and Managing Director Malay Chatterjee, Indian Hindu Business Line news portal reported on August
  • Japanese firms seek to regain influence in Brazi

    04 Aug 2014
    In the 1950s, Japan helped Brazil establish industries such as steelmaking and initiated key purchases of Brazilian iron ore. Now the Asian nation is seeking to regain influence in Latin America’s largest economy, where China is the No. 1 trading partner.
  • Gunung Gahapi, Nanjing to build steel mill

    03 Aug 2014
    Indonesian steel maker PT Gunung Gahapi Sakti and China’s Nanjing Iron & Steel Co. are slated to kick off construction of a US$200 million steel mill in the second quarter of this year.
  • JSW Steel applying for iron ore mines in Karnataka

    02 Aug 2014
    The shortage of iron ore, a vital input for steel production has hit steel makers hard and JSW Steel, a leading player, plans to apply for steel mines in Karnataka when they come up for auction.
  • Egypt's steel industry files anti-dumping claim against imports

    23 Jul 2014
    Egypt's steel companies have filed a petition against rebar and wire rod imports from China, Turkey and Ukraine, one of its top steelmakers said on Tuesday, the latest move in a years-long quest to protect the fledging industry from low-priced imports.
  • China Hebei's June steel output dips 5.5 pct on month

    21 Jul 2014
    China's biggest steel producing province of Hebei produced 15.47 million tonnes of crude steel in June, down 5.5 percent on the month, data from China's National Bureau of Statistics showed on Monday, as financial problems in the sector continued.
  • Indonesia ships first metal concentrate

    20 Jul 2014
    Indonesia has resumed some exports of metal ore concentrates after two firms gained permits to ship iron ore, zinc and lead, a mining ministry official said, the first shipments of their kind since the country changed its export rules in January.
  • Adani, POSCO E&C to develop rail line in Australia

    19 Jul 2014
    Adani Mining Pty Ltd of Adani Group on Friday said that it has signed a binding agreement with POSCO E&C, a global construction company and a subsidiary of the South Korean giant POSCO, to develop a greenfield non-electrified standard gauge railway line in
  • China Nickel Ore Buyers Said to Aim to Skirt Indonesia Ban

    17 Jul 2014
    Chinese nickel pig iron producers are aiming to get around an Indonesian ban on nickel ore exports by buying a shipment of slightly lower grade material and labeling it as “iron ore”, two Chinese industry sources said.
  • China’s Steel Industry Still Overproducing

    16 Jul 2014
    Steel production last month grew at the fastest pace so far this year to a record average daily output of 2.31 million metric tons, adding to signs that China’s efforts to streamline the industry are faltering
  • PSM needs Rs8B to be “unbeatable”: CEO

    15 Jul 2014
    Federal Minister for Industries and Production Ghulam Murtaza Jatoi visited Pakistan Steel Mills (PSM) to be apprised of the company’s roadmap for revival in light of the recent financial restructuring package.
  • Chinese steelmakers thrive as raw material costs plunge

    13 Jul 2014
    Mainland steel producers have seen their profit margins surge to the highest in at least 18 months on the back of sharply lower raw material prices and robust demand, a trend expected to continue in coming months, analysts say.
  • US sets duties on South Korea steel pipes in about-face

    12 Jul 2014
    The US Commerce Department on Friday set duties on South Korean steel pipe used in the oil and natural gas industry, reversing its position in one of the most contentious trade disputes in years after intense lobbying from US producers and lawmakers.
  • China June oil, copper, iron ore imports fall for 2nd month

    10 Jul 2014
    SHANGHAI: China's imports of crude oil, copper and iron ore fell for a second month in June as factors including unfavourable prices, economic uncertainties and tighter credit weighed on sentiment, but overall demand remained healthy.
  • JSW Steel to import 6 MT of iron ore in FY15

    09 Jul 2014
    Steel major JSW Steel imported its first iron ore shipment of 170,000 tonnes last week from South Africa. Three more shipments of iron ore are to reach Indian ports in the next few days, the company said in a statement.
  • Industry minister meets with Ezz Steel, Beshay Steel and Suez Steel

    08 Jul 2014
    Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour met with Ezz Steel, Beshay Steel, and Suez Steel – the three largest companies producing iron and steel in Egypt – on Sunday, in order to discuss the repercussions of the increase in energy pr
  • JSW Steel will import 0.5 mt of iron ore a month

    08 Jul 2014
    The current economic slowdown has hit steel companies the most. Apart from a sharp fall in demand, the iron-ore mining ban in Karnataka, Goa and Odisha has pushed up operational costs. With a production capacity of 10 million tonnes (mt) a year in Karnatak
  • Stainless Steel body demands duty hike to check China imports

    06 Jul 2014
    Stating that the share of Chinese stainless steel products has touched about 30 per cent in the Indian market, stainless steel body ISSDA has demanded doubling the import duty on these to 10 per cent in the upcoming budget to safeguard interests of domesti
  • Iron ore boosted by China restocking

    06 Jul 2014
    The price of iron ore, a key ingredient in steelmaking, has risen to its highest level in more than a month, lifted by a flurry of restocking activity in China.
  • PSM receives 110,000 tons of coal

    05 Jul 2014
    Pakistan Steel Mills (PSM) has received two ships carrying 110,000 tons of coal, which is believed to improve production of steel at the mills to 20 percent by the end of the ongoing month of July, a statement said on Friday.
  • Labrador Iron ops falter on low iron ore prices, quality, cost

    02 Jul 2014
    Labrador Iron Mines (TSX:LIM) officially cancelled plans to mine its James iron ore deposit in Labrador, Canada, this year. Labrador Iron, a seasonal miner that has shut down operations through winter, had said back in February it was considering its optio
  • Tata Steel to cut 400 jobs in Wales

    01 Jul 2014
    Tata Steel has announced plans to cut about 400 jobs at its plant in Port Talbot in Wales and is not ruling out compulsory redundancies.
  • India's steel capacity from eastern region set to rise

    29 Jun 2014
    NEW DELHI: Eastern region is set to push India's steel capacity with an investment of nearly Rs 9 lakh crore for creating an additional 160 million tonnes per annum (mtpa) capacity in the next 10-15 years.
  • Shanghai rebar hits 3-1/2-week high on restocking hopes

    25 Jun 2014
    Shanghai steel rebar futures rose to their highest level since late May on Wednesday, propped up by expectations that traders would replenish stocks on hopes demand will pick up as the Chinese economy regains momentum.
  • Australia cuts 2015 iron ore, met coal price forecasts

    25 Jun 2014
    Australia revised down its 2015 iron ore and metallurgical coal price forecasts as rising output of two of the country's biggest export earners outstrips demand, raising concerns for mining companies already struggling with shrinking profit margins.
  • POSCO pulls out of bid for Dongbu

    24 Jun 2014
    The top management at POSCO, the nation’s top steelmaker, on Tuesday said it has decided to pull out of a package bid for Dongbu Group’s Incheon Steel Plant and a coal-fired thermal power plant in Dangjn.
  • Aust shares boosted by Chinese data

    23 Jun 2014
    The share market posted solid gains as investors were buoyed by China's best manufacturing activity data in six months. The June reading of HSBC's manufacturing activity index rose to its highest reading for 2014, at 50.8, which the bank said showed the wo
  • Steel prices hit as global output surges

    22 Jun 2014
    Global crude steel production rose at an annual 2.2 per cent rate in May as output in China hit new record levels and North American and European mills cranked up production, industry data showed, pressuring prices the world over.
  • Falling iron ore prices hurting Chinese companies

    21 Jun 2014
    The price of iron ore has plunged 44 percent from its February 2013 peak on the back of record output. That’s hurting mining companies in China where 20 percent to 30 percent of mines have closed, according to the China Metallurgical Mining Enterprise Ass
  • Baosteel in box seat for WA iron ore

    18 Jun 2014
    China's Baosteel is in the box seat to secure a massive iron ore holding in Western Australia after Mineral Resources failed to take control of explorer Aquila Resources. Aquila on Wednesday said it had rejected mining contractor Mineral Resources' takeov
  • Chinese Firms Willing to Invest in Iran's Steel Industry

    17 Jun 2014
    "The Chinese investors have said that they want to invest in the construction of steel products and ingot plans in Kermanshah province," Head of Kermanshah Province's Chamber of Commerce Keyvan Kashefi said on Tuesday.

    16 Jun 2014
    As part of a measure to improve the state of affairs at the Pakistan Steel Mills (PSM), the government on Monday provided the entity an amount of Rs2.55 billion — the installment is part of the restructuring package of Rs18.5 billion that was earlier appro
  • ArcelorMittal taps into China's booming market for growth

    15 Jun 2014
    ArcelorMittal , the world's top steelmaker, said on Sunday it would use its Chinese joint venture to tap into the country's fast-growing car market, helping offset slackening steel demand on the back of a slowing economy.
  • Steelmaker in China drive

    15 Jun 2014
    Automobile production in China - already the world's biggest market - may climb about 60 percent in the next eight years, boosting demand for steel, according to ArcelorMittal, the world's largest producer.
  • Pellet makers seek sops to process iron ore dumps

    14 Jun 2014
    Pellet making companies have urged the Government to provide incentives to use the 150 million tonnes of low grade iron ore dumped as waste by miners. Steel companies generally prefer ore with iron content of 63-64 per cent, while the one with less than 6
  • Steel output at record high

    14 Jun 2014
    China’s crude steel output hit a record of 70.43 million tons in May, up 2.6 percent from a year ago, government data showed on Friday, as steel mills in the world’s biggest producer looked to meet strong demand.
  • Karnataka to gain from hike in royalty on minerals

    12 Jun 2014
    The Mines Ministry has floated a draft Cabinet note on increasing royalty on minerals like iron ore and bauxite for inter-ministerial discussions. If approved by the Cabinet, the annual revenue collection of mineral-bearing states would swell by 41 per cen
  • The iron ore price is falling again

    12 Jun 2014
    Benchmark iron ore fell more than 2% on Thursday to fresh lows last seen September 7, 2012. According to data from the The Steel Index, the import price of 62% iron ore fines at China's Tianjin port was pegged at $91.50 per tonne, down $2 on the day.
  • Steel industry in Karachi to enjoy tax holiday

    11 Jun 2014
    The government has allowed steel melters in Karachi to enjoy tax holiday, while their counterparts in other parts of the country are obliged to pay sales tax on electricity consumption, it was emerged on Tuesday.
  • Building material prices see sharp escalation

    11 Jun 2014
    While cement and steel prices have remained stable, those on a host of other building materials saw 60-70 per cent price increases stemming from higher shipping costs in the last six months.
  • Emirates Steel lowers cost with $1.3bn refinancing deal

    09 Jun 2014
    Abu Dhabi’s Emirates Steel has obtained $1.3 billion in credit facilities, becoming one of a string of UAE firms to lower its cost of borrowing as a strong economy encourages cash-flush banks to lend at low rates.
  • BSL's Integrated Steel Plant Gets MoEF Nod

    07 Jun 2014
    BHUBANESWAR: The sparring between Odisha Government and Ministry of Environment and Forests (MoEF) has finally ended up benefiting Bhushan Steel Limited (BSL) with the latter restoring the final forest clearance in favour of the company for diversion of 61
  • Out of Ore Stock, MISL to Shut Shop

    07 Jun 2014
    BHUBANESWAR: The Mid-East Integrated Steel Ltd (MISL), the first steel project in the private sector at Kalinga Nagar in Jajpur years before the place was hailed as the steel hub of Odisha, is readying to shut shop. With the State Government not taking up
  • Chinese firms to build $5b steel industrial park

    04 Jun 2014
    Several Chinese firms plan to invest up to US$5 billion to develop an industrial park in Bantaeng regency, South Sulawesi, which is slated to become Indonesia’s first integrated iron-and-steel industrial park.
  • Steelmark in key ME steel supply deal

    04 Jun 2014
    Steelmark Mideast will represent D P Jindal Group in Bahrain and Qatar for the supply of seamless pipes from their flagship company Maharashtra Seamless Limited.
  • China rebar hits record low, more pressure on iron ore

    03 Jun 2014
    Chinese steel futures dropped for a fourth session to hit an all-time low on Tuesday, reflecting pressure on demand from a weak property sector and hefty supply as markets reopened after a holiday weekend.
  • NMDC to Produce 50-mt Iron Ore by 2020

    01 Jun 2014
    The country’s largest mining company NMDC posted a 34 per cent increase in net profit at `1,962 crore in the fourth quarter ended March 31, up from `1,465 crore a year ago. In an interview with Sunitha Natti, chairman-cum-managing director Narendra Kothar
  • Arcelor looks for a better deal

    01 Jun 2014
    ARCELORMITTAL South Africa (Amsa) is lobbying government to include steel as a designated sector to benefit from state procurement in a bid to boost that ailing sector.
  • PSRMA divided on raw material taxes

    31 May 2014
    LAHORE: Pakistan Steel Re-Rolling Mills Association (PSRMA) has parted into two groups on the sales tax and withholding tax on raw material for steel sector, as the central committee has written a letter to the prime minister and finance minister against t
  • Rio, Guinea Agree on Terms for $20 Billion Iron-Ore Mine

    26 May 2014
    Rio Tinto Group, the world’s second-biggest mining company, agreed financial terms with the government of Guinea for a potential $20 billion iron-ore mine, port and rail project that may start by the end of this decade.
  • Korean steel giant POSCO in pole position for NT project

    25 May 2014
    Korean steel giant POSCO's drive to divest non-core assets hasn't stopped it from taking an interest in new Australian projects, as its memorandum of understanding with ASX-listed TNG Limited has shown in recent days.
  • Tatas confident of turnaround in European steel arm

    20 May 2014
    Indian conglomerate Tata Group is confident of a turnaround in the fortunes of its UK-based Tata Steel Europe, which has won contracts in the UK, France and Saudi Arabia, overcoming the challenging market conditions.
  • Vale Drops Fourth Day as Iron Ore Declines to Lowest Since 2012

    20 May 2014
    Vale SA (VALE5), the world’s largest iron-ore producer, is posting its longest losing streak in two months as prices for the commodity slump. The voting shares slipped 0.3 percent to 29.39 reais at 12:46 p.m. in Sao Paulo, poised for a fourth consecutive
  • POSCO cuts 2014 capital spending by more than 10%

    18 May 2014
    POSCO, South Korea’s top steelmaker, has trimmed its facility investment for the year by more than 10 percent from its initial plan in order to improve its financial footing, industry sources said Sunday.
  • FMA announces reduction in wheat flour price

    17 May 2014
    KARACHI: Flour Mills Association (FMA) has announced new price, Rs. 39.50 per kg of the wheat flour and demanded to lift ban on movement of wheat within the province for further reduction in the price of basic food commodity.
  • ThyssenKrupp raises annual profit forecast

    14 May 2014
    FRANKFURT: Germany’s ThyssenKrupp raised its forecast for full-year operating profit on Tuesday as it cut costs and took back parts of a stainless steel business it had sold to Finland’s Outokumpu
  • Rio Tinto's Australian iron expansion ahead of schedule

    13 May 2014
    Miner Rio Tinto said on Tuesday it had boosted its iron ore output to a run rate of 290 million tonnes a year at its Australian operations two months earlier than expected and was on track to hit its full expansion target by 2017.
  • Nalco, SAIL power duty arrears at Rs 1,156 cr

    12 May 2014
    The Odisha government is likely to flag off the issue of pending electricity duty (ED) arrears amounting to Rs 1,156.32 crore of National Aluminium Company (Nalco) and the Rourkela unit of steel major Steel Authority of India Ltd (SAIL) with the Centre.
  • Puyat Steel seeks safeguard duties vs. China GI sheets

    11 May 2014
    A local producer of galvanized iron and pre-painted iron sheets and coils called on the Philippine government to put safeguards against the importation of similar but substandard products from China which are said to be causing “serious injury” to the dome
  • Iron ore smuggling heats up, prices cool down

    11 May 2014
    Mexican officials said last week that they seized a drug cartel’s vessel and the nearly 70,000 mt of iron ore it was carrying, according to United Press International. The cartel, known as Knights Templar, is “known iron ore smugglers, in addition to traff
  • Steel Coil prices in USA still on the rise

    08 May 2014
    The prices for steel coil in the USA reached a new high. It was expected by some market players that the prices will stabilized but still the prices are still going up and have reached the highest over the previous 14 months.
  • Rebar prices from Iran mills went down

    04 May 2014
    The movement of steel long products in the Iran market slowed down on the end of April. This beginning of May, most rebar buyers are not in a hurry to buy for their stock thinking that previous week’s price is baseless, despite of the increase in producti
  • More than 400,000 tons of steel imported by Japan in March

    01 May 2014
    Japan’s Ministry of Finance has announced that the import of ordinary steel has reached 472,797 tons in March, a 15% increase compared to the month February. The materials that were highly imported were heavy plates, hot-rolled steel sheets, electric steel
  • Prices for Carbon Steel plates from EU to increase again

    30 Apr 2014
    It was learned that the heavy plate producers from Europe will try to increase their prices. The reported price increase will be at EUR 20-30/t but the market players think that the buyers will unlikely book at this price level.
  • Purchasers of steel billets from CIS want discounts

    28 Apr 2014
    Currently, the market for CIS billet has slowed down. The market players are still observing the situation. Due to the continued decrease in price of steel crap, most buyers think that the billet price also should go down but the sellers believe otherwise.
  • Uncertainty Hits World Steel Industry

    22 Apr 2014
    Steel manufacturers around the world are set to face lower levels of demand growth as structural issues impact emerging markets and China tries to rein in parts of its economy, a new report says.
  • Global steel demand may grow at 3.3 percent this year

    22 Apr 2014
    Global steel demand is likely to grow at a faster pace of 3.3 per cent this year, driven by rising demand for the commodity from India, Brazil, Russia, West Asia and North Africa, according to a report.
  • Over 15 Sindh mills stop producing flour

    20 Apr 2014
    KARACHI: Over 15 flourmills have stopped producing flour in the last couple of days since the Sindh Food Department is diverting all the trucks carrying wheat to its warehouses instead of flour factories, sources said on Friday.
  • South Korea booked import scrap from Japan

    17 Apr 2014
    A contract for Japanese scrap was concluded to be shipped to South Korea. It is reported that buyers of scrap are expecting they would get discount, but the prices remained unmoved.
  • Turkish mills look forward for decrease prices for import scrap

    17 Apr 2014
    The scrap market in Turkey currently has minimal business activity. Currently, the price for import scrap is currently stable but the mills are waiting for the prices to go down further due to the decline in the deal prices reported last week.
  • Current billet market trend in Iran

    15 Apr 2014
    After the new year holiday in Iran last week, the market situation have started to improve. Locally produced billets with 120mm is being traded at $639-647/mt on ex-works basis including 8% VAT. Prices are continuously going up and went to $655-659/mt on t
  • CIS export billet prices to go up

    14 Apr 2014
    There is a continuing upward trend in the export billet market from CIS suppliers. This week, the deal prices have increased by $5/t.
  • Price of steel plates from Germany at lowest level

    14 Apr 2014
    An agreement was concluded between German plate mills and buyers in the beginning of April. The consumers agreed to the prices for plates are already at the rock bottom and there is no need to ask for more discount.
  • HRC demand in UAE is steady

    13 Apr 2014
    Domestic buyers of HRC all over UAE is continuously purchasing the material due to stable demand and because of the upbeat movement in the global market.
  • Saudi Arabia’s demand for rebar goes up

    08 Apr 2014
    The traders and mills in Saudi Arabia are unable to get deals with higher prices although the import prices are going up due to high price of metal scrap.
  • Turkey’s local steel long products prices continue to go up

    08 Apr 2014
    Despite of increasing price for steel scrap, Turkish mills continue to raise their prices for local steel long products in view of the moderate demand. One reason for this price increase is that the government party has won the recent elections allowing th
  • Prices for Export Billet from CIS rise up

    03 Apr 2014
    Exporters of semis in CIS are still amidst the continued increase in prices of steel scrap. A $5/t increase was again implemented by most CIS mills for the past week.
  • Prices for metal scrap from Italy to increase this April

    03 Apr 2014
    For the month of March, the prices for steel scrap have been continuously decreasing but due to the recovering demand in the market worldwide and tighter supply in Europe, the prices stopped from going down further. Market players believe that the price fo
  • NSSC raised contract prices of stainless steel for March – May

    01 Apr 2014
    Japan’s biggest stainless steel producer Nippon Steel & Sumikin Stainless (NSSC) decided to raise its local price by $194/t for austenitic stainless steel rods for March to May contracts. The local price of ferritic stainless steel rod also went up by $48/
  • Italy’s rebar producers begins to increase prices

    30 Mar 2014
    Scrap metal prices are foreseen to go up in the month of April. For this reason, the rebar manufacturers from Italy decided to increase their domestic and foreign prices this last week of March
  • Prices for rebar from South Europe going up

    26 Mar 2014
    Due to the high price of metal scrap, some South European producers decided to increase their export prices for rebar although the demand is low for their main market Algeria.
  • Rebar price are stable in UAE

    25 Mar 2014
    The expected change in the downward trend and to get higher deal price for rebar did not happen for the Turkish and Emirati traders.
  • India’s import prices for HRC went down

    16 Mar 2014
    The import prices for HRC in India went down as compared to the local prices for HRC. The decreased in price is the result of lower prices in China due to low iron ore price, financial problems, weak demand both on local and foreign market.
  • Turkey’s rebar and wire rod prices went up

    16 Mar 2014
    Due to high prices of import scrap, Turkish steel longs exporters have increased its prices. No deals yet were made at this new price level because low demand for rebar.
  • Merchant Bar and Steel Section demand in UAE is still weak

    11 Mar 2014
    Traders from UAE have begun buying merchant bars and steel sections for their re-stocking. Demand for these materials is still weak and is worst as compared to last year, commented by an employee of a UAE based steel mill.
  • Qatar Steel signed deal with Vale for iron ore pellets

    09 Mar 2014
    A deal was signed between Qatar Steel and Vale (formerly known as CVRD), for the supply of iron ore pellets by the latter. Vale is a international dealer which specialized in exploration and extraction of iron ore which is required for steel production.
  • Prices went up for rebar in Russia

    06 Mar 2014
    A increased in rebar prices by 6-8% was unanimously decided by Russian mills due to the depreciation of rouble. The 12mm rebar is priced at CPT Moscow $594-596/t with VAT.
  • Prices for European heavy plate prices unchanged

    04 Mar 2014
    European heavy steel plate prices have remained unchanged, reports said. The price for heavy plate was increased by leading mills increased at EUR20-30/t but was not able to get deals because the price increase was not accepted in the market.
  • No deals yet for Import scrap in Turkey

    02 Mar 2014
    Turkish buyers are currently not making deals for import scrap even though the prices for this material have been steady. One factor is that Turkish companies are having difficult times in making deals for their steel products.
  • Saudi Arabia’s demand for HRC improved

    02 Mar 2014
    The better demand in the industries and the start of the projects which were announced in the beginning of this year led to the rise in demand of HR Coils. Traders from Saudi Arabia have increased their purchases for the said product.
  • Prices for Wire Rods remained in USA

    01 Mar 2014
    Even though there was decrease in steel scrap prices in February, Wire Rod makers in USA kept their prices unchanged. Because of the adverse weather since the beginning of this year, there was a longer lead time which helps the manufactures to keep the pri
  • Week 8 2014: Market trend for Flat Products

    26 Feb 2014
    A $12/mt increase in the price of hot rolled coil 2 mm thickness was applied on truck in Anzali including 6% VAT and custom duty. The price for other sizes also went up last week.
  • Lower prices for HDG than CRC in USA

    25 Feb 2014
    Producers of steel flat products in the US are facing hard challenges in HDG segment. Because of the winter period, the construction industry, which is the big consumer of HDG, is at low level, thus making a very thin spot demand for HDG.
  • Seldom Export deals for CIS longs

    25 Feb 2014
    Since the past days, only few deals form CIS longs exports have took place. The buying activity is still slow although the mills are likely to give discounts.
  • MENA region’s demand in Steel to increase

    23 Feb 2014
    The demand in steel in the Middle East and North Africa (MENA) region is expected to increase this by 7.3% as compared from last year, according to World Steel Association (WSA).
  • UAE: Demand for Rebar decreases

    20 Feb 2014
    Over the past two weeks, the demand for steel long products in UAE has continuously decreased. The same is also seen on global market, both traders and end consumers are waiting for further price decrease.
  • Russia: Semi-finished steel product exports up in January

    19 Feb 2014
    A total of 1.14 million tons in January was achieved by Russia in its exports for semi-finished steel products, a 5.4% increase compared to the same time of last year. This data is according to State Statistics Committee of Russia.
  • Downbeat HRC exporters from China

    15 Feb 2014
    Traders of HRC from China are offering huge discounts, lower price as compared to mill. Also, the producers failed to get new contracts.
  • Low demand for Canadian Coking Coal

    15 Feb 2014
    The market for Canadian Coking Coal is slow this week as foreign buyers are uninterested to purchase. The premium-quality material is priced at $126 - $130 FOB.
  • Price for import billets decreased in Taiwan

    12 Feb 2014
    A decreased of $5-$15/t for import imports was reported due to the low demand in the local segment for finished long products and it is also expected that the price will further decrease due to declining quote for iron ore and scrap in the region.
  • Billets imported by Saudi factory

    06 Feb 2014
    The demand for semi-finished longs had gradually recovered in Saudi Arabia as considerable amount of imported billets were booked at the end of January.
  • Chinese steel PMI drops to record 40.7 in January

    05 Feb 2014
    Positions of Chinese steelmakers were shaky in January. The market situation has worsened further on the back of oversupply and a lack of liquidity at mills and traders, especially in the pre-holiday period.
  • Freight market overview 5th week 2014

    05 Feb 2014
    In late January, storm wind and drifting ice have caused extremely dangerous situation for navigation in the Azov Sea. At present there are no shipments being made in the basin, the freight rates are indicative and stay at last week’s level.
  • CIS to cut square billet exports in February

    05 Feb 2014
    CIS producers keep reducing square billet exports. Despite sufficient demand from the Middle East buyers, quotes for February production of semis have fallen due to low buying activity in markets for finished products.
  • March HR coil prices rise in Czech Republic

    05 Feb 2014
    Prices for March production of coils seem to increase in the Czech Republic. Amid the bullish sentiments in most of EU countries, local and European mills are planning to take control over pricing. One of Czech traders told Metal Expert: “Mills are about t
  • Iraqi traders reduce rebar imports on delayed 2014 budget adoption

    05 Feb 2014
    The delay in 2014 state budget adoption in Iraq has caused rebar imports to fall sharply. In January Iraqi buyers booked just some 20,000 t of Turkish rebar against the usual monthly volume of no less than 70,000 t. Bad weather conditions in the country al
  • Domestic mills' prices for rebar keep falling in Iran

    04 Feb 2014
    Longs and sections buying stays utterly low in Iran as most state construction projects remain frozen. Iranian buyers have minimized purchases, anticipating a substantial revaluation of rial against the US dollar.
  • China's Shagang Group cuts domestic prices for February HR coils

    04 Feb 2014
    China’s Shagang Group has started selling February HR products having reduced prices for 5 mm Q235 HR coils by $10/t with currency fluctuations (RMB 50/t) to $581/t (RMB 3,530/t; $1 = RMB 6.0731). All prices are with 17% VAT. The decline is due to slack de
  • German plate makers get higher deal price

    04 Feb 2014
    German plate makers implemented a EUR 5-10/t gain in contract prices for small lots this week. In this way mills want to increase their margin, which has been small for a long time. In the meantime, end-user demand remains poor and traders' stocks are suff
  • CIS scrap exporters cut prices again

    04 Feb 2014
    Export prices for CIS steel scrap keep falling in end-January.  Continuous negotiations and importers' firm refusal to make deals have forced  suppliers to cut prices again. The discounts, however, have prompted no new  contracts so far.
  • KOC tenders new refinery pipeline deal

    03 Feb 2014
    State-upstream operator, Kuwait Oil Company (KOC) has issued a tender for an estimated USD500m deal for the construction of crude oil pipelines to fee the planned fourth refinery in the south of the country.
  • Turkish longs exporters refuse to give discounts

    02 Feb 2014
    After closing deals for large and mid-sized lots at $565-570/t FOB since the beginning of last week, Turkish longs exporters are no longer willing to quote such low prices to most markets.
  • Italian scrap market takes predictable course

    01 Feb 2014
    Prices for steel scrap are about to drop in Italy, in line with market expectations. This week Italian mills have bought the material at prices close to mid-January figures, but now parties are already discussing reductions.
  • Overseas buyers resist price rises for Indian flats

    01 Feb 2014
    As expected, Indian suppliers have raised export prices for flat products to be shipped in March due to successful sales of the material with February shipment and rising quotes at home. However, the new price level is unacceptable for overseas buyers.
  • UAE plate market sees slight buying activity

    01 Feb 2014
    Though traders’ demand for plates in the UAE has slightly increased over the past two weeks, it is still rather modest. Nevertheless, foreign suppliers have already become bullish expecting activity will recover soon.
  • JSW Steel to hike prices by up to USD19/ton from February

    30 Jan 2014
    Private steel maker JSW Steel has decided to raise prices by 1-2% from February 1. The price increase, prompted mainly by steep domestic ore prices, is expected to be anywhere between Rs 700 and Rs 1,200 per ton. Other steel producers without access to cap
  • Largest ship-to-shore quay cranes arrive at Khalifa Port

    30 Jan 2014
    Abu Dhabi Ports Company, ADPC, the developer of ports and industrial zones, and Abu Dhabi Terminals, ADT, the container terminal operator, have announced the arrival of three of the world’s largest and most modern ship-to-shore quay cranes at Khalifa Port.
  • Freight market overview 4th week 2014

    29 Jan 2014
    Сargo transportation volumes have stabilized at a low level in the Azov-Black Sea basin this week. There are plenty of available small dwt and Handysize vessels in the regional spot market.
  • Demand for import billet stays thin in Thailand

    29 Jan 2014
    The situation in the Taiwanese market for longs is unfavourable for suppliers: end users’ demand stays weak on political instability in the country and coming Lunar New Year, which drives prices down. Moreover, prices for raw materials are falling in the r
  • Buyers unwilling to book Canadian coking coal

    28 Jan 2014
    The Canadian coking coal market remains calm this week. Requiring import material no more after the recent restocking, Chinese consumers have ceased to show support. Prices for Canadian material are staying at $130-132/t FOB, but no deals at this level hav
  • Chinese HRC exporters close business

    28 Jan 2014
    Export prices for China’s HR coils are holding at last week's level of $525-540/t FOB as suppliers are leaving the market for the Lunar New Year.
  • Merchant bars prices and market overview

    28 Jan 2014
    Egypt: El Marakby for Steel is selling square bars up to 19 mm and flat/round bars up to 50 mm at EGP 5100-5150/t (USD730-735/t) EXW including 11% VAT, and for export at USD620-630/t FOB.
  • Baosteel raises domestic tinplate prices

    27 Jan 2014
    China's Baosteel has announced to raise domestic prices on general use tinplates for March shipment by RMB200 (USD32/ton and RMB80 (USD18)/ton on its hot-rolled steel coils for February shipment. However, the prices on high quality tinplate remain unchange
  • Qatar tops ranking of steel use per person

    27 Jan 2014
    Qatar was the world’s largest consumer of steel per head of population in 2012, according to new data issued by the World Steel Association in its Steel Statistical Yearbook 2013.
  • World crude steel output increases by 3.5 pct in 2013

    27 Jan 2014
    World crude steel production reached 1,607 mega-tons (Mt) for the year 2013, up by 3.5% compared to 2012. The growth came mainly from Asia and Middle East while crude steel production in all other regions decreased in 2013 compared to 2012.
  • German buyers book HRC at higher prices

    26 Jan 2014
    In the second half of January, German mills have partially achieved an increase in transaction prices for HR coils. End-users’ demand has somewhat improved after the holiday period in the EU.
  • CIS billet exporters give new discounts

    26 Jan 2014
    Deal prices in the CIS export billet market continue sliding down. Buyers are showing interest, however, prices are being suppressed by bearish sentiments in raw material segment (quotations for steel scrap in Turkey decrease) and poor demand for finished
  • Modest steel price upturn in EU continues in January

    25 Jan 2014
    According to the latest report from MEPS International Ltd, there has been very little activity in the European flat products market in the first two weeks following the Christmas and New Year holidays.
  • Sections demand still restrained in UAE

    23 Jan 2014
    Despite moderate demand, the announced new construction projects have brought some optimism to the Emirati sections market. End users are believed to resume buying at the end of February, while currently only small tonnages are booked. In this situation, t
  • Turkey: HRC exports up by 99pct between Jan to Feb 2013

    22 Jan 2014
    November 2013’s hot rolled coil exports from Turkey worth USD 55.38 million decreased by 0.63% YoY to 96 kilo ton but that represents an increase of 68% over October 2013. While the export value was down 3.61%, it was up 66% on October 2013.
  • Supply and demand hammer at price of iron ore

    22 Jan 2014
    The price of iron ore is predicted to drop this year as growth of China's steel production slows and the supply of raw materials from international mining giants increase, according to industry experts.
  • India: Despite positive signs, steel outlook still negative

    22 Jan 2014
    It’s been showing some signs to the contrary, but the domestic steel sector is still not out of the woods. While production of top steelmakers increased last year, as did prices of steel items, pressure on margins continues to linger.
  • SAIL plans USD9.76 billion expansion in Bokaro in second phase

    22 Jan 2014
    Months ahead of completing Bokaro plant's capacity addition to 5.7 million tons (MT), Steel Authority of India Ltd (SAIL) on Monday said it plans to raise it further by another 10 MTPA with an investment of Rs 60,000 crore (USD9.76 billion) in the second p
  • China: Flats fall, longs hold steady

    22 Jan 2014
    China’s spot steel prices were mixed on Monday January 20, with weak pre-holiday trade pushing flats prices down while longs price held steady.
  • Strong overseas presence at Sharjah Steel Fabrication Show

    22 Jan 2014
    Strong foreign participation became a high point of the region's premier steel fabrication industry exhibition SteelFab 2014 that got under way at Expo Centre Sharjah on Monday (January 20). It was opened by H.E. Sheikh Salim Bin Abdul Rahman Al Qassimi, C
  • India: Bullish start to the year for shipbreaking

    21 Jan 2014
    The shipbreaking market in India has turned distinctly bullish in the new year amidst rising steel prices and a dearth of available ships. Recyclers are looking for junk ships as increasing freight rates force owners to delay scrapping.
  • MAN launches new tractor to ME range

    21 Jan 2014
    MAN Truck & Bus Middle East has launched a new truck designed for the Middle East region, the MAN TGS WW 6×4 tractor head. The vehicle was on display at Big 5 in Dubai alongside the MAN TGS WW 6×4 rigid tipper.
  • Pakistan Steel runs out of coal

    21 Jan 2014
    The production capacity of Pakistan Steel is fluctuating between two to five per cent as the mills are without coal since May 2013.
  • Smuggling of Flour to Balochistan Foiled

    20 Jan 2014
    KARACHI: Sindh food department has foiled an attempt to smuggle 23400 kilo gram flour to Baluchistan from Sindh. According to details a team of Sindh Food Department headed by District Food Controller Karachi Muhammad Aslam and inspector Qamaruddin Bhutto
  • Millat to start exporting tractors, parts this 2014

    20 Jan 2014
    LAHORE: Pakistan is going to enter the international engineering goods market, as one of the biggest local manufacturers on Thursday formally announced to launch exports of completely-built tractors, its engines and parts from 2014.
  • Export prices for CIS long products move downwards

    19 Jan 2014
    Low business activity remains in place in export markets for CIS long products. Consumption is low in nearly all consuming markets, while flexible prices of Turkish and Chinese suppliers are toughening the competition.
  • Iron ore drops below USD130 to cheapest since July

    16 Jan 2014
    Spot iron ore prices fell below USD130 a ton to the lowest level in six months as a sluggish outlook for steel demand limited appetite from Chinese mills most of which are well stocked in the raw material after recent hefty imports.
  • Chinese market for CRC and HDG stagnates

    15 Jan 2014
    Chinese export market for CR coils and galvanized products remains stagnant in the first half of January. Exporters feel pressure mainly from slackening domestic market sentiment.
  • Longs buying continues to grow in Algeria's market

    15 Jan 2014
    In mid-January, longs demand has improved further in the Algerian market. Local traders have managed to gain discounts while booking import material, which is attributed to the fact that stocks have declined substantially over the period when European supp
  • Taiwanese billet buyers ignore imports

    14 Jan 2014
    The Taiwanese billet market remains tense. Local re-rollers are not particularly interested in imports, seeing signs of a downturn in scrap prices in SE Asia. Taiwanese buyers prefer to deal with home producers, who are ready to negotiate contracts $2-4/t
  • Egyptian buyers cut rebar purchases

    14 Jan 2014
    Consumption of domestically produced rebar expectedly dropped in Egypt due to a seasonal slowdown in construction and heavy inflow of Turkish material purchased late last year.
  • South Korea to resume CRC exports to Mexico

    13 Jan 2014
    The Mexican Ministry of Economy has terminated an antidumping investigation into supplies of South Korean CR coils, the preliminary determination on which was announced on June 3, 2013. The government has revised its provision as South Korea's POSCO and Hy
  • January upturn in export prices for CIS scrap doubtful

    13 Jan 2014
    After the holidays, CIS scrap exporters have faced Turkish buyers’ resistance to the traditional price upturn in January. Importers show low buying citing sluggish finished steel market and weaker lira against the US dollar. They agree to buy at previous d
  • Flour mills releasing 25000 bags daily

    12 Jan 2014
    SIALKOT ,The flour mills have been releasing as many as 25000 bags of flours daily to the dealers under the direct supervision of the Food Department, with a sole aim to ensure the maximum smooth supply of flour to the people in Gujranwala Division’s all t
  • UAE sections market still in doldrums

    12 Jan 2014
    In the UAE, demand for sections from traders and end users is fairly weak. Some foreign suppliers have cut their offer prices to Emirati buyers.
  • CIS billet exporters in weak position

    11 Jan 2014
    The increase in CIS billet export prices is yet to take hold. Moreover, suppliers have had to somewhat reduce prices in the face of still low foreign demand at ports of Azov-Black Sea basin as well as moderate buying interest in finished longs in the Middl
  • HRC prices and market view

    10 Jan 2014
    Egypt: In the local market, Ezz Flat Steel has kept January HRC output prices stable compared to December price levels. 1.21-1.3 mm is offered at EGP 4816/t (USD690-695/t), 1.31-1.4 mm at EGP 4687/t (USD670-675/t), 1.41-1.5 mm at EGP 4601/t (USD660-665/t),
  • December stagnation continues in Chinese HRC market in January

    10 Jan 2014
    The start of 2014 calendar year has not brought any improvements to the Chinese export market for hot-rolled products. Despite players’ expectations, suppliers have made no attempts to lift offers yet facing pressure from weaker demand in the key foreign m
  • Rebar prices and market overview

    08 Jan 2014
    Algeria : Spanish rebar is offered at EUR480-490/t CFR (USD655-665/t). Local mills are selling rebar at EUR490-500/t (USD670-680/t) EXW VAT exclusive. Import and local prices have remained stable since mid December.
  • Pakistan: Flour price likely to rise

    07 Jan 2014
    ISLAMABAD: Wheat flour price in the country has increased more than 45 per cent within only one year and is expected to increase more in the near future due to increasing input costs of agricultural commodities thus making the lives of poor miserable.
  • Beams, sections and channels prices and market overview - Week 01

    07 Jan 2014
    Kuwait : Chinese UPN-UPE and U channel is offered at USD555/t, JIS beams (5% weight tolerance) at USD600/t and IPE/IPEAA at USD590/t CFR Kuwait. South Korean offers of JIS beams are at USD675/t compared to USD650/t mid November, and IPE, HEA/HEB at USD695/
  • Steel companies to benefit as China cuts exports

    06 Jan 2014
    Less than a year ago, several brokerages discontinued actively tracking industrial and cyclical stocks as demand weakened and economic growth plummeted to a 10-year low. These sectors are now seeing a revival of interest as the belief is that a combination
  • KSA - Construction market to hit USD300 billion by 2015

    05 Jan 2014
    The volume of Saudi Arabia's booming construction and contracting market is expected to hit USD300 billion (SR1.12 trillion) by 2015, said Fahd bin Mohammed Al-Hammadi, chairman of the National Contractors Committee at the Council of Saudi Chambers.
  • Steel sector to see rising demand

    03 Jan 2014
    Speaking at a recent steel conference in Dubai, Khalid al-Qadeeri, vice-chairman and managing director of Foulath & Bahrain Steel, told the assembled delegates that the region’s steel consumption would hit 30 million tons a year (t/y) by 2023.
  • Plate prices and market overview

    02 Jan 2014
    Turkey: Ukrainian plates are offered at USD550-560/t CFR, and Russian origin at USD595-615/t CFR. Local mills are selling plates at USD600-610/t EXW (VAT exclusive). Traders are selling plates at USD610-625/t ex-warehouse (excluding VAT). Most prices are u
  • Chinese flats suppliers forecast market rebound in January

    31 Dec 2013
    Chinese flats suppliers are waiting for a traditional rebound in the market in January. Most producers are not rasing prices for January HR products much as they do not believe demand will surge at the beginning of next year.
  • Chinese plate exporters prepare price increase in January

    28 Dec 2013
    Chinese plate export market has been stagnating in the second half of December. Like HRC sellers, most plate suppliers have ceased signing export deals amid much firmer demand and higher prices in the domestic market.
  • A new CEO for Ukraine's Metinvest

    25 Dec 2013
    Ukraine's Metinvest has appointed  Yuriy Ryzhenkov  as CEO. Previously he was  Chief Operating Officer at DTEK, Ukraine’s major coal and power producer. Ryzhenkov also worked in the finance departments of Ukraine’s ISTIL and Donetsk Metallurgical Plan
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