Iron ore futures in China rose to a 3-1/2-week high on Wednesday, fuelled by hopes of stable demand as anti-pollution curbs in top steelmaking cities ahead of the National Day holiday were more lenient than expected. The most-traded iron ore futures contract on the Dalian Commodity Exchange for January 2020 delivery rose as much as…
Seaborne iron ore prices continued to correct below the $90-per-tonne-cfr mark on Friday September 6 amid futures losses and thin physical trading. 62% Fe fines, cfr Qingdao: $89.05 per tonne, down $1.13 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $89.44 per tonne, down $1.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $86.80 per tonne, down…
JSW Steel announced that National Company Law Tribunal has approved the Resolution Plan submitted by JSW Steel Limited in respect of the corporate insolvency resolution process of Bhushan Power and Steel Limited. 2 member NCLT bench, headed by its president MM Kumar, said in its 138-page order that the resolution plan of JSW, H1 resolution…
In late March, Primetals Technologies received the Final Acceptance Certificates (FACs) for automation upgrades conducted on a third-party 6-strand billet caster and two blast furnaces of Gerdau Ouro Branco in Minas Gerais, Brazil. The caster project included the upgrade of outdated level 1 and level 2 systems, resulting in quality improvements, reduced maintenance requirements and…
Bankers to take a near 30% haircut; operational creditors to get `350 crore against admitted claims of `733.76 crore Sajjan Jindal-promoted JSW Steel has finally won Bhushan Power and Steel (BPSL) with its Rs 19,700-crore bid having been accepted by the National Company Law Tribunal (NCLT). At this price, bankers will be taking a near…
A tighter supply-demand balance for iron ore at Chinese ports coupled with sharp price decreases in the seaborne market have led to the steelmaking raw material being sold at large premiums at the docks in China. Fastmarkets’ implied China port price for 62% Fe iron ore fines, fot Qingdao was $10.18 per tonne higher than…
When two large organizations collaborate, it makes a far reaching and resounding impact. The case in point is the collaboration between the Indian Railways and Steel Authority of India Limited for more than six decades. While the Railways is the heart of transport infrastructure of our Country, SAIL is the most trusted and longstanding supplier…
China's construction sector consumed two-thirds of China's incremental steel production over January-July, with the stronger-than-expected property market remaining the biggest steel demand driver, according to the China Iron & Steel Association. China's net steel exports decreased by almost 200,000 mt year on year over January-July, while its crude steel production increased by 48 million mt…