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Author Archives: admin

Karnataka BJP Government to Examine Sale of Land to JSW Steel

NewnewsBy admin04.09.2019Leave a comment

PTI reported that the BJP government in Karnataka will examine and take a decision on the previous coalition government’s proposal regarding the sale of 3,667 acres to JSW Steel at Ballari. Minister for Large & Medium Scale Industries Jagadish Shettar said “I will look into it and discuss with officials regarding it. Did they do…

GLOBAL MANGANESE WRAP: Weak sentiment, falling yuan weigh on China high-grade ore market

NewnewsBy admin04.09.2019Leave a comment

The seaborne high-grade manganese ore index fell in the week to August 30, while the low-grade ore market consolidated after falling heavily in the previous week. Seaborne high-grade manganese ore index in China drops Seaborne low-grade cif and fob ore prices range bound Port ore prices drop to encourage buying interest Alloys slide in China,…

NMDC Restores BHEL Contract for Raw Material Handing System at Nagarnar Steel Plant

NewnewsBy admin04.09.2019Leave a comment

Bharat Heavy Electrical Ltd announced that NMDC has revoked the termination of the contract to construct a Raw Material Handling System at NMDC’’s under construction Integrated Steel Plant at Nagarnar in Bastar district of Chhattisgarh, being executed by BHEL-ISG Bengaluru division, has restored the original contract on 27th August 2019. BHEL had received on 15th…

GLOBAL FERRO-SILICON WRAP: Chinese market weakens further on soft demand

NewnewsBy admin04.09.2019Leave a comment

Recent losses in the Chinese ferro-silicon price deepened over the past week in line with persistently softer demand, while the European market was steady, although a lack of buying interest was expected to weigh on prices in the near term. Export price in China drops on weak buying interest while domestic market tracks trend European…

Rising Raw Material Costs Eat Into Chinese Steel Makers Profits

NewnewsBy admin04.09.2019Leave a comment

Xinhua reported that Chinese steel plants reported shrinking profits in the first seven months of this year as rising raw material prices hit. Member enterprises of the China Iron and Steel Association raked in about USD 339 billion in sales revenue during this period, up 9.75%, while profits fell by 23.93% YoY to stand at…

Seaborne iron ore lump premium plummets 74% since late-June; may recover in Q4

NewnewsBy admin03.09.2019Leave a comment

The seaborne iron ore lump premium has fallen by 74% over the past two months as steel mills reduced usage of lump in the steel-making process due to thin steel margins, preferring to use domestic ores and imported fines in their feedstock blending ratio. S&P Global Platts assessed the iron ore spot lump premium at…

LIVE FUTURES REPORT 03/09: LME lead price sinks below $2,000 in 1.6% slide; nickel closes below $18,000

NewnewsBy admin03.09.2019Leave a comment

The three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6. Meanwhile, a steady downturn in nickel’s outright price saw it close below $18,000 per tonne. Lead futures began their decent…

Tata Steel Europe Announces Outcome of Sales Process for Non-Core Businesses

NewnewsBy admin03.09.2019Leave a comment

Tata Steel Europe announced the outcome of a sales process for non-core business units. Tata Steel has signed a sales and purchase agreement for Cogent Power Inc with Japanese steel giant JFE Shoji Trade Corporation. CPI manufactures cores for electrical distribution transformers and employs nearly 300 people. Buyers have already been found for Kalzip on…

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