The Forest Advisory Committee of the Ministry of Environment and Forest has accepted the Odisha Government’s proposal for transfer of forest clearance of the 1083.69-hectare land acquired for POSCO near Paradip to JSW Utkal Steel Limited to set up an integrated steel plant of 12 million tonne capacity. It said “This proposal has been deliberated…
Fastmarkets incorrectly published weekly assessments for its Southeast Asian zinc premium over the past two months when the price should have been published every two weeks. Following a market consultation, Fastmarkets reduced the frequency of publication of a number of base metals price assessments in July in response to low transaction liquidity and a lack of price…
ArcelorMittal announced that it has commissioned technology provider Midrex Technologies to design a demonstration plant at its Hamburg site to produce steel with hydrogen. Both companies have now signed a Framework Collaboration Agreement to cooperate on several projects, ranging from research and development to the implementation of new technologies. The FCA will be governed by…
Buying activity softened further in the export markets for hot-rolled coil and cold-rolled coil (HRC, CRC) from the Commonwealth of Independent States during the week ended Monday September 16, because prices have been falling too fast. Fastmarkets’ price assessment for steel HRC, export, fob Black Sea, CIS, was $420-435 per tonne on September 16, down…
A 3 member bench of National Company Law Appellate Tribunal directed that it will hear Central Bureau of Investigation, Enforcement Directorate and Ministry of Corporate Affairs Serious Fraud Investigating Office regarding JSW Steel’s plea seeking immunity from prosecution after buyout of Bhushan Power and Steel, which is facing money-laundering allegations on 14 October. It said…
Magnitogorsk Iron and Steel Works’ (MMK) representatives took part in the Second Congress of the Russian Steel Association on labour protection, industrial and environment safety held in Stary Oskol. MMK invests around RUB 2.5 billion in occupational safety every year. The event was held on 10-11 September on the site of the Oskol Electrometallurgical Plant…
China’s domestic rebar prices held steady on Tuesday September 17 amid falling futures and an inactive market. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($526-530) per tonne, unchanged Northern China (Beijing): 3,640-3,670 yuan per tonne, unchanged Sellers kept their prices flat to wait for more changes in the futures market, sources said. Market participants did not…
Metinvest B.V. has purchased 49.37% of Dneprovsky By-Product Coke Plant shares for $11 million. The official purchase took place in August. The coke output capacity of the plant is some 700 thousand tons per year. In January Metinvest bought 23.71% of Yzhkoks for $30 million. Dneprovsky By-Product Coke Plant received 373.62 thousand UAH of net…