Business Line reported that Ministry of Mines has allowed Steel Authority of India Ltd to offload, in a year, up to a quantity equivalent to maximum of 25 per cent of total iron ore production in the previous year. This is subject to clearance from the respective State governments where the mines are located. It…
Activity in the EU strip mill product market was muted during the summer holidays. Numerous supply chain participants remarked that conditions were quieter than usual for the time of year. In early/mid-September, the market remained subdued. Procurement by distributors is still weak, due to concerns about their own tight resale margins. Overall demand indicates little,…
The price of wire rod delivered in the Southern European market went down this week amid slow trading, Fastmarkets heard on Wednesday September 18. Fastmarkets’ assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was €470-490 ($519-541) per tonne on Wednesday, down by €10 per tonne from the week… Source of…
Vallourec’s Supervisory Board met under the chairmanship of Vivienne Cox to discuss the succession plan for the Management Board whose terms of office expire on 15 March 2020. As Philippe Crouzet did not wish to take on a new term of office, the Supervisory Board has managed an internal and external selection process. At the…
Seaborne iron ore prices softened further on Wednesday September 18 amid a roller-coaster ride in the futures market. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $96.42 per tonne, down by $0.75 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.81 per tonne, down by $0.75 per tonne. 62% Fe low-alumina fines, cfr…
Financial Express reported that Bhushan Power and Steel Limited’s highest bidder JSW Steel has informed the National Company Law Appellate Tribunal that it would be impossible for it to implement the resolution plan for BPSL if it has to share profits earned by the insolvent firm during the resolution period with creditors. JSW has also…
Ukrainian steelmakers’ association Ukrmetprom says that payments of royalties from mining iron ore increased almost 5-fold from 2012 to 2018. At the same time, payments of royalties from minerals of state importance, including ore, increased only 1.6-fold, while those from crude oil production 1.1-fold. The Servant of the People Party parliamentary faction proposes a change…
Interpipe has successfully passed the Tatweer Petroleum pre-qualification and has been added to the list of trusted suppliers of linear pipes to the Bahrain market. Tatweer is developing several deposits, for which it uses large-diameter pipes. Earlier Interpipe could not supply the pipes to the state company, as it was not included in the registry.…