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Bharat Heavy Electrical Ltd announced that NMDC has revoked the termination of the contract to construct a Raw Material Handling System at NMDC’’s under construction Integrated Steel Plant at Nagarnar in Bastar district of Chhattisgarh, being executed by BHEL-ISG Bengaluru division, has restored the original contract on 27th August 2019. BHEL had received on 15th…
DetailsRecent losses in the Chinese ferro-silicon price deepened over the past week in line with persistently softer demand, while the European market was steady, although a lack of buying interest was expected to weigh on prices in the near term. Export price in China drops on weak buying interest while domestic market tracks trend European…
DetailsXinhua reported that Chinese steel plants reported shrinking profits in the first seven months of this year as rising raw material prices hit. Member enterprises of the China Iron and Steel Association raked in about USD 339 billion in sales revenue during this period, up 9.75%, while profits fell by 23.93% YoY to stand at…
DetailsThe seaborne iron ore lump premium has fallen by 74% over the past two months as steel mills reduced usage of lump in the steel-making process due to thin steel margins, preferring to use domestic ores and imported fines in their feedstock blending ratio. S&P Global Platts assessed the iron ore spot lump premium at…
DetailsThe three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6. Meanwhile, a steady downturn in nickel’s outright price saw it close below $18,000 per tonne. Lead futures began their decent…
DetailsTata Steel Europe announced the outcome of a sales process for non-core business units. Tata Steel has signed a sales and purchase agreement for Cogent Power Inc with Japanese steel giant JFE Shoji Trade Corporation. CPI manufactures cores for electrical distribution transformers and employs nearly 300 people. Buyers have already been found for Kalzip on…
DetailsChinese manufacturing activity showed signs of improvement in August, indicating stronger support for flat steel margins that returned to positive territory at the end of the month. The manufacturing purchasing managers’ index, published by Chinese financial media company Caixin, rebounded to 50.4 points in August from 49.9 in July. It was the first time the…
DetailsThe uptrend in the iron ore market since 2019 started halted in August, with a month-on-month price decline of 24% for 62% Fe material and a 23% price decline for 65% Fe material. The 65% Fe derivatives contract on the Singapore Exchange – which was launched in December 2018 and settled against Fastmarkets’ daily 65%…
DetailsAccording to the latest release on August 31 by the official index compiler CFLP Steel Logistics Professional Committee, China’s Purchasing Managers Index for the steel industry for August hit a new low since December 2015, reaching 44.9 amid imbalance in the fundamentals, steel price declines amid higher production and stocks while the growing challenges in…
DetailsChina’s domestic iron ore concentrate prices dipped again over August 26-30, falling by another Yuan 3-70/tonne ($0.4-9.8/t) on week, with offer prices being lower than procurement prices from Chinese steel mills as sellers tried to increase sales, according to Mysteel’s latest weekly survey. As of August 30, Beipiao, in Northeast China’s Liaoning province, saw its…
DetailsChina’s domestic rebar prices rose again on Tuesday September 3, supported by strong futures prices even though trading was not very active. Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($504-508) per tonne, up 30 yuan per tonne Northern China (Beijing): 3,600-3,620 yuan per tonne, up 20 yuan per tonne The rebar futures price on the Shanghai…
DetailsIn August Yuzhniy Mining and Processing Works produced 1046.6 thousand tons of concentrate, almost unchanged YoY. Sinter manufacture dropped by 16.3%, to 87.6 thousand tons. In January-August UGOK increased concentrate production by 2.7%, to 8365.8 thousand tons. Sinter output decreased by 17%, to 877.4 thousand tons. (Ukrainian metal)
DetailsAltyn Plc reports the restoration of gold output volumes in July after the drop in H1 due to the machinery breakage and delays in drilling programs. Losses before interest in H1 totaled $603 thousand as opposed to profit of $603 thousand in January-June 2018. The company is negotiating a loan of $17 million to spend…
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