JSW Steel Ltd, India’s most valuable steel producer, is predicting declines for iron ore next year as demand from biggest consumer China eases and supplies recover. Prices may trade between $80 and $85 a ton for the rest of 2019 before sliding to $60 to $65 next year, Seshagiri Rao, joint managing director of the…
The three-month nickel price on the London Metal Exchange was lower during morning trading on Monday September 16, retreating toward $17,300 per tonne, ignoring stock outflows that have brought on-warrant material down to its lowest level in eight years. Turnover has been moderate for the base metals complex so far this morning, with copper traded…
Bloomberg reported that Kone Oyj’s Chief Executive Officer Mr Henrik Ehrnrooth wants a full merger with Thyssenkrupp AG’s elevator unit, as the Finnish firm prepares a bid for its German rival’s crown jewel that could thwart interest from private equity. Mr Ehrnrooth would like Thyssenkrupp to be a major shareholder in the combined entity, he…
SHANGHAI, Sep 16 (SMM) – Production of crude steel in China expanded 9.3% from a year ago to stand at 87.25 million mt in August, after a year-over-year increase of 5% in July, the National Bureau of Statistics (NBS) said on Monday September 16. This brought production in January-August to 664.87 million mt, standing 9.1%…
Base metals prices on the Shanghai Futures Exchange were on divergent paths during morning trading on Monday September 16, with risk aversion among investors heightening following an attack on Saudi Arabian oil facilities over the weekend. News on Saturday of a drone attack on Saudi Arabian state-owned oil producer Saudi Aramco’s oil production facilities at…
Bloomberg reported that JSW Steel is looking outward as the slowest economic expansion in six years cuts demand in India and puts pressure on margins. Joint Managing Director Seshagiri Rao in an interview said that JSW Steel expects to exceed its export target of 2.2 million tonnes to 2.4 million tonnes for the fiscal year…
A plunge in ferrous scrap prices and a negative trend in most global steel markets resulted in falling billet prices in almost all regions during the week ended Friday September 13. Prices in the Commonwealth of Independent States fell due to lower bids in buying outlets such as Turkey, the Middle East and Egypt. In…
Mint reported that lenders to Bhushan Power and Steel Ltd have held talks with JSW Steel Ltd, which had won the stressed steel mill bid under the insolvency code, as the acquirer is not entirely happy with the takeover terms cleared by the bankruptcy court. Source of information