WEEKLY BASE METAL PREMIUMS REPORT: 17/09

A summary of base metals premiums from across the globe for the week to Tuesday September 17.

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ArcelorMittal Asks Midrex to Design Demonstration Plant for Hydrogen Steel Production in Hamburg

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…

India Launches Steel Import Monitoring System

India’s Commerce & Industry Minister Mr Piyush Goyal launched Steel Import Monitoring System to give advance information about steel imports to government and stake holders. The SIMS will provide advance information about steel imports to Government and stake holders including, steel industry, steel consumers to have effective policy interventions. In this system, the importers of…

From the editor’s Desk – India’s Sustainability Leader Mr YPS Suri all set to Start Next Inning of life from October

With a missionary zeal to advocate and promote sustainability for protecting the planet with an appeal to consume less in every walk of life in alignment with National Mission to mitigate corrosion through sustainable solutions, Mr Yatinder Suri established, led and guided the chosen team for the Indian subsidiary of Finnish stainless steel global leader…

JSW Steel Moves NCLAT Over BPSL Assets

JSW Steel on September 13th 2019 challenged an order of the National Company Law Tribunal that approved its INR 19,700 crore bid for Bhushan Power and Steel, but did not provide immunity from attaching the insolvent firm’s assets, post-take over, by investigating agencies for recovering INR 5,580 crore fund digression by erstwhile promoters. Mentioning JSW…

China’s steel stocks decline on demand recovery

Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market. Total inventories of the five major steel items…

Indian Government to Allot Mining Leases through Auction – Report

IANS reported that in a setback for the mining industry, the government is set to reject a proposal to extend non-captive mining leases of companies that are expiring after completing 50 year period in March, 2020.

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