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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…
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…
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