Despite the fourth quarter of the year being well under way, it has been surprising to see the Indian subcontinent markets still stuck in the ongoing doldrums. As we reach the middle of September, markets have not been this depressed for several years (at least) and the pervading negativity seems to show few signs of…
DetailsThe Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16. A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS…
DetailsWith 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…
DetailsKey data from the pricing sessions in New York, London and Shanghai in the week ending Friday September 13. United States Key drivers Spot silicon fell below $1 per lb on the low end for the first time in three years in the United States, on excess supply and the undercutting of domestic material by overseas suppliers.…
DetailsJSW 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…
DetailsStocks 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…
DetailsThe three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity’s outright price fall by 2.6%. Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the…
DetailsIANS 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. Source of information
DetailsMANILA, Sept 16 (Reuters) – Chinese steel futures hit a 1-1/2-month high on Monday on hopes that Beijing will roll out more stimulus measures after latest economic indicators showed deepening slowdown in the world’s second largest economy. China’s industrial production grew at the weakest pace in 17-1/2 years in August, a sign of increasing weakness…
DetailsTurkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) continued to fall last week on low demand and soft scrap prices, sources told Fastmarkets on Monday September 16. HRC exports Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey, was $455-465 per tonne on September 13, down by $5 per tonne…
DetailsBusiness Line reported that the Steel Ministry would ensure that raw material demands of steel manufacturers, especially secondary steel producers, are met when the mining leases expire in 2020. Minister of Petroleum & Natural Gas and Steel, Mr Dharmendra Pradhan said that the Steel Ministry is working with Ministry of Mines for least disruption in…
DetailsJSW 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…
DetailsIn January-August Ukraine produced 6.87 million tons of 6% moisture bulk coke, down by 6% YoY. In August deliveries of coking coal to by-product coke plants grew by 3% MoM, to 1.19 million tons, including 430 thousand tons of domestic coal, up by 10%, and 760 thousand tons of imported coal. In 8 months deliveries…
DetailsThe Northern Pipe Company has commissioned its fifth pipe-welding mill 16-51. The new mill will cover the growing demand for the cold-rolled and galvanized coils. The company will now also be able to increase small diameter pipes output to 70 thousand tons per year. (Ukrainian metal)
DetailsNGK Resurs has commissioned the Polyanka deposit. Some 600 employees have been hired. The company intends to produce around 1.5 tons of gold per year. Until autumn in test mode the company has obtained 330 kg of gold. During the first stage of the project, which is scheduled to last till 2025, the investor will…
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