Business Line reported that Ministry of Mines has allowed Steel Authority of India Ltd to offload, in a year, up to a quantity equivalent to maximum of 25 per cent of total iron ore production in the previous year. This is subject to clearance from the respective State governments where the mines are located. It…
DetailsActivity in the EU strip mill product market was muted during the summer holidays. Numerous supply chain participants remarked that conditions were quieter than usual for the time of year. In early/mid-September, the market remained subdued. Procurement by distributors is still weak, due to concerns about their own tight resale margins. Overall demand indicates little,…
DetailsThe price of wire rod delivered in the Southern European market went down this week amid slow trading, Fastmarkets heard on Wednesday September 18. Fastmarkets’ assessment of the price of steel wire rod (mesh-quality), domestic, delivered Southern Europe, was €470-490 ($519-541) per tonne on Wednesday, down by €10 per tonne from the week… Source of…
DetailsVallourec’s Supervisory Board met under the chairmanship of Vivienne Cox to discuss the succession plan for the Management Board whose terms of office expire on 15 March 2020. As Philippe Crouzet did not wish to take on a new term of office, the Supervisory Board has managed an internal and external selection process. At the…
DetailsSeaborne iron ore prices softened further on Wednesday September 18 amid a roller-coaster ride in the futures market. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $96.42 per tonne, down by $0.75 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $96.81 per tonne, down by $0.75 per tonne. 62% Fe low-alumina fines, cfr…
DetailsFinancial Express reported that Bhushan Power and Steel Limited’s highest bidder JSW Steel has informed the National Company Law Appellate Tribunal that it would be impossible for it to implement the resolution plan for BPSL if it has to share profits earned by the insolvent firm during the resolution period with creditors. JSW has also…
DetailsUkrainian steelmakers’ association Ukrmetprom says that payments of royalties from mining iron ore increased almost 5-fold from 2012 to 2018. At the same time, payments of royalties from minerals of state importance, including ore, increased only 1.6-fold, while those from crude oil production 1.1-fold. The Servant of the People Party parliamentary faction proposes a change…
DetailsInterpipe has successfully passed the Tatweer Petroleum pre-qualification and has been added to the list of trusted suppliers of linear pipes to the Bahrain market. Tatweer is developing several deposits, for which it uses large-diameter pipes. Earlier Interpipe could not supply the pipes to the state company, as it was not included in the registry.…
DetailsThe department of the inner market protection of the Eurasian Economic Commission has reported on the results of the investigation, which began on September 4, 2018. In 2015-2017 the volume of consumption of stainless steel hot-deformed seamless pipes on the Union market increased by 62.1%, with imports from China growing 6.9-fold, and during the investigation…
DetailsA new shapemeter has been installed at the line of 100-meter rails non-destructive method in the Evraz ZSMK rail and beam shop. The new equipment measures 9 elements of sections according to GOST. The shapemeter has passed state attestation and tests. (Ukrainian metal)
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