| Price Index - India | | | | 17-Feb | 16-Feb | Change | | ILPPI | 6660 | 6683 | -23 | | IFPPI | 6538 | 6529 | +9 | | INDSPI | 6601 | 6610 | -9 | | What is it? | | Poll Results | | Buy America will lead to trade barriers by other nations? | | Yes | 66% | | No | 22% | | Can't Say | 12% | | View Current Poll | | Currency | | AUD | 1.5576 | | BRL | 2.2845 | | CAD | 1.2549 | | CNY | 6.8267 | | EUR | 0.7903 | | GBP | 0.7024 | | INR | 49.5030 | | JPY | 92.1293 | | RUB | 35.9354 | | USD | 1.0000 | | ZAR | 10.1584 | | View Current Currency | | Metal Rates Cash Seller & Settlement | | Zn | USD 1090 | | | Ni | USD 9915 | | | Sn | USD 11105 | | | Al | USD 1315 | | | Cu | USD 3270 | | | View Current Metal Rates | | Steel Futures | | NCDEX | 23900 (19-Dec) | INR | 0 |  | | DGCX | 463 (16-Feb) | USD | 0 | | | LME-M | 290 (16-Feb) | USD | -10 |  | | LME-F | 330 (16-Feb) | USD | 0 | | | NCDEX :
NCDEX Mild Steel Ingot Future Closing Price DGCX :
Dubai Steel Rebar Futures Closing Prices LME-M :
LME Steel Billet Future Buyer Prices (Mediterranean) LME-F :
LME Steel Billet Future Buyer Prices
(Far East) | | | | Others
Indian steel price index slide reflects continued weakness - 18 Feb 2009 The domestic Indian Steel Price Index declined on February 17th 2009 albeit at a slow pace. The Indian Long Product Price Index (ILPPI) plunged by 23 points whereas the Indian Flat Product Price Index (IFPPI) rose by 8 points. The overall Indian Steel Price Index (INDSPI) dipped by 8 points
| Class | 16-Feb | 17-Feb | Change
| | ILPPI | 6683 | 6660 | -23
| | IFPPI | 6529 | 6538 | 8
| | INDSPI | 6610 | 6601 | -8
| | | | |
ILPPI - Long Product Price Index
IFPPI - Flat Product Price Index
INDSPI - Indian Steel Price Index
Long Products
| Category | 16-Feb | 17-Feb | Change
| | PI � TMT | 6480 | 6445 | -35
| | PI � WRC | 7158 | 7139 | -18
| | PI � Angle | 6307 | 6291 | -17
| | PI � Channel | 6319 | 6307 | -11
| | PI � Joist | 5881 | 5873 | -8
| | | | |
Flat Products
| Category | 16-Feb | 17-Feb | Change
| | PI - Narrow Plates | 6164 | 6164 | 0
| | PI - Wide Plates | 6573 | 6584 | 11
| | PI - Hot Rolled | 6364 | 6378 | 14
| | PI - Cold Rolled | 7086 | 7086 | 0
| | PI - Galvanized | 6780 | 6780 | 0
| | | | |
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To know exact prevailing steel prices in India in 22 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Steel minister lays foundation stone for SAIL 8th SPU in UP - 18 Feb 2009 In line with its strategy to meet the market demand for tailor made steel products and to help increase per capita steel consumption in rural areas, Steel Authority of India Limited is in the process of setting up Steel Processing Units in locations across the country where it does not have any production facility.
Mr Ram Vilas Paswan union minister for Chemicals & Fertilizers and Steel laid the foundation stone of the company's eighth SPU at village Behjam, 120 kilometers from Lucknow, in Lakhimpur Kheri district of Uttar Pradesh this afternoon. Present on the occasion were Union Minister of State for Steel Mr Jitin Prasada, MP (Kheri) Mr Ravi Prakash Verma, Secretary (Steel) Mr PK Rastogi, Mr SK Roongta chairman of SAIL, Mr SN Singh MD of Rourkela Steel Plant, senior officials of union and state government and members of legislative assembly etc.
The SPU to be set up at a cost of INR 85 crore will have an installed capacity of 1 million tonne per annum. The Lakhimpur Kheri SPU will produce TMT bars in 8 millimeter to 25 millimeter diameter from input materials sourced from SAIL's integrated steel plants. Expected to be completed in 18 months, the unit will have a TMT bar mill with 60,000 tonne per annum capacity for TMT bars of 8 to 12 millimeter diameter and 40, 000 tonne per annum capacity for sizes 16 millimeter to 25 millimeter
Commending Mr Prasada for taking the initiative and giving shape to the idea of the Lakhimpur Kheri SPU within a very short span of 1 year, Mr Paswan said that the need of the hour was development and the setting up of this project will give a boost to several ancillary and small scale industries in the region.
He said that elaborating on his vision of SPUs which was close to his heart, states were chosen where public sector steel plants are not located so as to make up for the gap in supply to the extent possible. He said consumption of steel has to increase and good quality steel has to reach the common man. He said when asked that SAIL to enhance the project cost to INR 100 crore. Complimenting SAIL for giving shape to his vision, he also took the opportunity to applaud the SAIL for contributing 2 % of its profits towards CSR initiatives.
Mr Jitin Prasada on his part thanked the Steel Minister and SAIL for the support for making the project happen. Such initiatives will boost all round development. He underlined that the concept of SPUs is aimed at ensuring that the development initiatives of the Government of India reach the nook and corner of the country. SAIL's efforts in organizing several medical camps including flood relief camps in the state were also lauded by him.
Mr PK Rastogi that said SPUs will help to make available quality steel at affordable prices to consumers in the villages and will also contribute to the prosperity of the region where they are located by way of catalyzing growth of ancillary industries
Mr SK Roongta said about the potential of SPUs to generate a variety of economic activities. With a market presence of 26 % in the state, SAIL is planning to add an additional 44 dealers to its existing network of 267 dealers to cater to one of India's largest state which accounts for 11 % of the country's total steel consumption.
Mr Roongta said that elaborating about the company's marketing network which has a presence in all the districts of the country, SAIL has 4 Branch sales offices in UP spread across the four corners of the state, 5 warehouses equipped with mechanized handling systems and 1 customer contact office. It sales through its state dealers accounted for 56,000 tonne in January to April 2009.
SAIL has decided to set up 11 steel processing units in 7 states where it does not have any production facility, the foundation stones of which have been laid at Betiah, Mahnar and Gaya in Bihar, Gwalior, Ujjain and Hoshangabad in Madhya Pradesh and Pulwama in Jammu & Kashmir. The SPUs will use products like hot rolled coils, billets and TMT bars produced by SAIL's main integrated steel plants to manufacture a wide variety of steel items that can be utilized by the common man.
Pencil Ingot shows significant decline in North India - 18 Feb 2009 It is reported that prices of benchmark input material pencil ingot prices dipped by 3% to 4% in some of the major centers in North India on February 17th 2009.
| Location | Change | %
| | Mumbai | -200 | -0.9%
| | Mandi | -816 | -3.3%
| | Raipur | 0 | 0.0%
| | Kanpur | 0 | 0.0%
| | Kolkata | 0 | 0.0%
| | Ghaziabad | -1000 | -4.2%
| | Muzzafarnagar | -872 | -3.7%
| | Ahmedabad | -500 | -2.2%
| | | |
Change is on February 17th as compared to February 16th 2009
Change is in INR per tonne
This correction is bound to put pressure on prices of long products specially TMT in coming days at these locations.
To know exact prevailing steel prices in India in 22 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Indian zinc consumption to grow by 8% to 10% - 18 Feb 2009 Dow Jones citing senior industry official reported that Indian zinc consumption is likely to grow by 8% to 10% in 2009 from 500,000 tonnes last year, as the country's spending on infrastructure will rise despite a global slowdown.
Mr L Pugazhenthy ED of the India Zinc Lead Development Association said that "India's per capita consumption is very low at 0.4 kilograms as compared with the world average of 1.8 kilograms. With many telecom, housing and other infrastructure projects coming up, this is bound to rise.”
Mr Pugazhenthy said unlike the west, India's zinc industry is protected from the global economic downturn as the bulk of sales is local.
He said that "Infrastructure is increasing, money is flowing in India, and all the conditions are ideal for demand.”
Worldwide, companies are cutting production, but India's largest zinc producer Hindustan Zinc Ltd, is planning to ramp up the combined zinc and lead production capacity to 1 million tonnes by 2010 from its current capacity of 670,000 tonnes.
(Sourced from Dow Jones Newswires)
SAIL denies re negotiating of coking coal contracts - 18 Feb 2009 Coal Insights Bureau reported that Steel Authority of India Limited is still in talks with global mining companies to re-negotiate coking coal contract prices for 2008-09.
The report cited a top official of SAIL responsible for entering into annual contracts with mining companies said that "We had written to BHP, the largest supplier of coking coal to us, in December 2008 to cut prices from average agreed price of USD 300 a ton in view of sharp fall in steel prices, but nothing has emerged so far."
The SAIL official said that "This is absolutely incorrect. How do you expect BHP to renegotiate with us when they are in the midst of a negotiation with Japanese steel makers, who procure around 40 million tonne of coking coal from leading Australian coking coal mining companies."
The official further said that any re-negotiation between SAIL and BHP might happen only after the talks of contracts between Japanese steel companies and Australian mining companies that is still going on to arrive at a price for 2009-10 is finalized. The talks are expected to conclude by end of this month or early March.
NBC-TV18 news channel reported today, citing Metal Bulletin, had reported on February 17th that SAIL has managed to re negotiate the annual long term coking coal contract price down to USD 150 per tonne.
(Sourced from Coal Insights Bureau)
WB chief minister flags off new steel plant of Shyam Steel - 18 Feb 2009 West Bengal's Left Front government has tried to give a push to its industrialization drive with Chief Minister Mr Buddhadeb Bhattacharjee laying the foundation stone of a Rs.34.25 billion steel plant in the Purulia district of West Bengal.
At the foundation stone laying ceremony, Mr Bhattacharjee urged Shyam Steel officials to start the project without delay. He said that “The process for acquiring the rest of the land is on. I will speak to the district administration so that we can get the land fast.”
Mr Bhattacharjee said that the integrated project would give direct employment to 2,110 people. Another 11,000 will get indirect employment, as shops, residential houses and new roads will come up in the area, which will see comprehensive development.
Mr Shyam Sundar Beriwala chairman of Shyam Steel said that “Construction will start in the last quarter of 2009 and the project will be operational by 2011.”
The project includes the 1.1 million tonne per annum steel plant, a one million tonne cement plant and a captive power plant of 150 MW, entailing a total expenditure of INR 34.25 billion.
Indian steel sector disappointed on import duty issue - 18 Feb 2009 BL reported that the steel industry is disappointed that import duty on steel was not raised to 15% as recommended by the Ministry.
Mr Vinod Mittal vice CMD of Ispat Industries said that “Despite being an interim budget, because of the current extraordinary situation the industry and economy is currently passing through, the steel industry was expecting a set of measures aimed at reviving demand for steel and controlling dumping of steel products from a host of foreign countries.”
Mr Mittal said that the budget was a good opportunity for the government to announce major initiatives in this direction, adding that many countries have already announced stimulus packages to the tune of hundreds of billions of dollars to save employment and revive demand.
He said that “I hope the over INR 60,000 crore spending plan for construction of rural roads, irrigation and other infrastructural projects in rural areas under the Bharat Nirman and other Centrally-sponsored projects would help generate additional demand for steel.”
According to Mr Vikram Amin executive director of Essar Steel, since this was a vote on account, nothing much could be expected. He said that “Steel industry has been seeking import duty to deter countries from dumping their goods in India and it will also insulate Indian companies from unfair trade practices. The government can impose this duty during the course of the year by a notification.”
Mr NC Mathur director Corporate Affairs of Jindal Stainless said that in the current economic situation, the Government could have at least given some relief to the steel industry.
Mr Mathur said that the import duty, which is currently at 5%, can be taken to a peak rate of 7.5% to 10% after which it would need Parliamentary approval. He said that “Increasing it marginally could have been good indication, but the Government decided not to touch it.”
(Sourced from Business Line)
JSPL to add 1 million tonnes capacity in 18 months - 18 Feb 2009 PTI reported that Jindal Steel and Power Ltd, which is undertaking capacity expansion, said that it would be able to ramp up its capacity by a million tonne in next 18 months.
Mr Sushil Maroo whole time director of JSPL said that "We will ramp up our production capacity to 2.6 million tonne per annum from 1.6 million tonne per annum in next 18 months.”
He added that JSPL aims to achieve an installed capacity of 3 million tonne per annum in next one and a half year.
He said that "Steel demand would be better in the Q4 compared to the Q3 of this fiscal. Prices look to stabilize."
(Sourced from Press Trust of India)
TMT and Structural steel prices in North and West India fall - 18 Feb 2009 It is reported that prices of long products remained under pressure on February 17th 2009 at some of the locations in India
Mumbai
| Item | Grade | Size | Change | %
| | TMT | Fe 415 | 12mm | 0 | 0.0%
| | ANGL | GR A | 65x6 | -574 | -1.8%
| | CHNL | GR A | 75/100 | -287 | -0.9%
| | JSTI | GR A | 250x125 | -287 | -0.9%
| | | | | |
Change is on February 17th as compared to February 16th 2009
Change is in INR per tonne
Ahmedabad
| Item | Grade | Size | Change | %
| | TMT | Fe 415 | 12mm | -574 | -1.9%
| | ANGL | GR A | 65x6 | -344 | -1.2%
| | CHNL | GR A | 75/100 | -344 | -1.2%
| | JSTI | GR A | 250x125 | -208 | -0.7%
| | | | | |
Change is on February 17th as compared to February 16th 2009
Change is in INR per tonne
Delhi
| Item | Grade | Size | Change | %
| | TMT | Fe 415 | 12mm | -779 | -2.4%
| | WRC | SWR14 | 5.5/6 | -453 | -1.4%
| | CHNL | GR A | 75/100 | 0 | 0.0%
| | JSTI | GR A | 250x125 | 0 | 0.0%
| | | | | |
Change is on February 17th as compared to February 16th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 22 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
TATA Ryerson rolls out steel service centers in AP, Uttarakhand - 18 Feb 2009 BL reported that TATA Ryerson, a JV between TATA Steel and Ryerson Inc has invested INR 100 crore in the roll out of 2 advanced level steel service centers at Tada in Andhra Pradesh and Pantnagar in the Uttarakhand.
With the addition of these centers, the company now has to its credit nine specialized service centers to cater to a variety of OEMs in the country.
Mr Frank Munoz chairman of TATA Ryerson said that “We have followed our valued customers and set up steel service centers that are capable of serving commercial vehicles, two wheelers, tractors and the appliance industry. This exemplifies TATA Ryerson’s commitment to set newer standards for steel servicing for Auto OEMs in India.”
According to Mr Sandipan Chakravortty MD of TATA Ryerson, it is well equipped to service a fast growing automobile market in India. The company’s service facilities are strategically located to provide the fastest service to a variety of OEMs located in North and South India.
(Sourced from Business Line)
Plate and HR Coils price improve by 2% in Mumbai - 18 Feb 2009 There was improvement in flat prices in Mumbai but it evened out in North by a fall of 4% in HRC prices.
However, it is learnt that 3500 tonnes of plates from JSPL in size 12mm to 80 mm thickness have reached Mumbai, which will be a dampener on plate prices in the coming days of the week.
Mumbai
| Category | Grade | Size | Change | %
| | Narrow Plates | GRA | 8x1.25 | 0 | 0.0%
| | Wide Plates | GRB | 12-20x2.5 | 680 | 2.2%
| | Hot Rolled | Tube | 2.5x1250 | 453 | 1.6%
| | Cold Rolled | DSK | 0.63x1000 | 0 | 0.0%
| | Galvanized | 100Gms | 0.4 | 0 | 0.0%
| | | | | |
Change is on February 17th as compared to February 16th 2009
Change is in INR per tonne
Ludhiana
| Category | Grade | Size | Change | %
| | Patra | | | -91 | -0.3%
| | HRC | Tube | 2.5x1250 | -1088 | -3.8%
| | | | | |
Change is on February 17th as compared to February 16th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 22 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
JSPL to start iron ore mining at El Mutun in H2 of 2009 - 18 Feb 2009 PTI reported that Jindal Steel and Power Ltd plans to start mining iron ore from its mines in Bolivia in the second half of 2009.
Mr Sushil Maroo whole time director of JSPL said that "Production from Bolivia iron ore mines will start in another 6 months."
JSPL secured the rights to mine the world's oldest El Mutun iron ore reserves in the African country in 2006. JSPL has lined up an investment of USD 2.1 billion to set up steel making facilities as also developing the mines.
(Sourced from PTI)
Surcharge on corporate tax should have been removed - ASSOCHAM - 18 Feb 2009 Mr Sajjan Jindal President of ASSOCHAM said that industry did expect that at least surcharge on corporate taxes would be removed and new corporate tax ceiling introduced. There was no hint in this direction by the Finance Minister in his interim budget. Likewise on infrastructure refinancing, the focus is there in the budget but directions are not clearly laid out.
Mr Sajjan said that in the wake of the falling industrial production, decrease in exports, the Finance Minister strengthened many of his social schemes and enhanced allocations for rural infrastructure which according to ASSOCHAM will become main sources for demand generation.
The Chamber chief said that indeed, the ASSOCHAM was expecting a 3rd and last stimulus package in the interim-budget which however did not happen as it seems Mr Mukherjee restrained himself from presenting it and rather chose new government to unveil the package on lines anticipated by industry.
Mr Jindal, however, said that Mr Mukherjee made lot of good allocations for increasing social schemes such as subsidized education in ITIs for widows, housing loans up to INR 3 million for rural poor at rate of 7% interest rate and increase subsidies for fertilizer, food and petroleum.
He said that “What is important in the budget is growth path that the new government would have to ensure with decrease in duty rates both on direct and indirect front including rationalization on import tariffs. Sufficient indications have been dropped for enhancing India’s external trade and clear hints are that Indian economy would have to drive growth mostly from meeting domestic demand as slowdown would be their.”
Mr Jindal further added that it is heartening to note that the UPA government in recent times gave approvals for 50 infrastructure projects worth over INR 67,000 crore and FDI’s inflow between April to November 2008 exceeded USD 23.3 billion by registering a growth of 45% as compared to last year despite slowdown.
Steel pricing trends in India - 18 Feb 2009 A steel user, however big or small, is always concerned about steel buying as it is normally a big ticket item, but there is no bench mark available to steel buyers to compare their transaction prices, which in a big way decided their bottom line. Lastly, steel has been very volatile in last 6 months and has effected many users in a very severe way making it all the more important to track the prices and trends.
www.steelprices-india.com is a new portal that provides domestic pricing information for benchmark steel products in each category at select location in China on a regular basis 5 days a week. In addition, FOB levels for commonly exported steel products from two of the major exporting nation Ukraine & Russia and China are also available on daily basis to give a sense of alternates.
This would assist persons, including steel makers, traders, users and others, who are connected with industry in some way to asses the steel pricing trends and utilize in their day to day working to take considered decisions.
Benchmark products at select locations cover the entire basket of garden variety of steel products including input material for steel making and processing.
All these features are accessible only to registered user who is provided with a login id and password after payment is received. To know more about the service, please logon to the web site and click on “Features”, “Subscription” and if you like the service on “Registration”.
You can also send a mail with contact details to admin@steelprices-india.com
India Railway freight revenue up by 13% in 10 months - 18 Feb 2009 The India Railways have generated INR 43212.72 crore of revenue earnings from freight traffic during April 2008 to January 2009 as compared to INR 38292.73 crore during the corresponding period in 2008, registering an increase of 12.85%.
India Railways carried 681.28 million tonne of freight traffic during April 2008 to January 2009 as compared to 644.69 million tonne carried during the corresponding period last year, registering an increase of 5.68%. The net tonne kilo meters went up from 415438 million during April to January 2008 to 439442 million during April to January 2009, showing an increase of 5.78%.
For January 2009
| Item | Earnings | Volume
| | Coal | 1960.11 | 33.91
| | Iron ore for exports and domestic users | 886.32 | 12.01
| | Cement | 433.94 | 7.94
| | Food grains | 312.25 | 3.14
| | Petroleum oil and lubricant | 266.96 | 3.22
| | Pig iron and finished steel | 247.01 | 2.30
| | Fertilizers | 232.50 | 3.24
| | Container service | 186.80 | 2.26
| | Raw material for steel plants except iron ore | 61.61 | 0.82
| | Other goods. | 346.66 | 5.71
| | Total | 4934.16 | 74.55
| | | |
Earnings in crores
Volume in million tonnes
Update on Delhi to Mumbai Industrial Corridor - 18 Feb 2009 Delhi to Mumbai Industrial Corridor is proposed to be developed on both sides along the alignment of 1483 kilometer long Western Dedicated Freight Corridor as a Model Industrial Corridor of international standards with emphasis on expanding the manufacturing and services base and develop DMIC as the Global Manufacturing and Trading Hub.
DMIC aims at creating strong economic base with globally competitive environment and state of the art infrastructure to activate local commerce, enhance foreign investments and attain sustainable development. Its objectives as envisaged in the Concept Paper are doubling the employment potential, tripling the industrial output and quadrupling exports from the region in the first 5 years.
Delhi to Mumbai Industrial Corridor Development Corporation, the implementing agency for the project has appointed Consultants for preparing a Detailed Perspective Plan for the overall DMIC Region with pre-feasibility studies and preparation of Development Plans for the identified Investment Regions in the States of Gujarat, Madhya Pradesh and Haryana respectively. Once the Perspective Plan and Development Plans are ready, projects would be prepared and SPVs set up for implementation of the projects.
JSPL to invest in diamond mines in Congo - 18 Feb 2009 PTI reported that Jindal Steel and Power Ltd will invest up to USD 20 million in next 12 months for diamond mining in Congo.
Mr Sushil Maroo whole time director of JSPL said that "We have got the license to mine diamonds in Congo. We will be investing up to USD 20 million in a year's time for the purpose."
(Sourced from PTI)
Directory of Re-Rolling Industry in India - 18 Feb 2009 Published in January 2009, 'Directory of Re-Rolling Industry in India ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian Re-Rolling industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report covers name of 825 steel re-rollers of India in alphabetical as well as location wise order. Look at the information you'll get in the ' Directory of Re-Rolling Industry in India '
• Company name -825 entries
• Address-825 entries
• Email-113 entries
• Phone number-813 entries
• Fax number -363 entries
• Mob -155 entries
Format:
PDF File
Total no of pages - 454
Delivery by Email on receipt of payment
Price:
USD 300 or equivalent in INR
Additional Charges would be levied for delivery of file on a CD or in printed form
How to order:
Ordering the report is simple. You can order your copy to reports@steelguru.com, which will send you an invoice of the report.
PGCIL earmarks INR 5,181 crore for strengthening network - 18 Feb 2009 Projects Today reported that Power Grid Corporation of India's Board of Directors have approved the investment proposals worth INR 5,181 crore to strengthen its transmission network in the southern, northern and western grid. The investments are spread over the next 36 months.
The details of the investment proposals are:
1. Transmission system associated with Tuticorin JV Thermal Power Station at an estimated cost of INR 353.57 crore with commissioning schedule of 36 months
2. System Strengthening -IX in Southern Regional Grid at an estimated cost of INR 120.62 crore with commissioning schedule of 36 months
3. Northern Region System Strengthening scheme-XIII at an estimated cost of INR 317.69 crore with commissioning schedule of 33 months
4. Northern Region System Strengthening scheme-XIV at an estimated cost of INR 132.19 crore with commissioning schedule of 30 months
5. Northern Region System Strengthening scheme-XVII at an estimated cost of INR 210.79 crore with commissioning schedule of 30 months
6. Northern Region System Strengthening scheme-XIX at an estimated cost of INR 410.29 crore with commissioning schedule of 36 months
7. Western Region System Strengthening scheme-X at an estimated cost of INR 664.96 crore with commissioning schedule of 36 months
8. Western Region System Strengthening scheme-XI at an estimated cost of INR 409.50 crore with commissioning schedule of 36 months
9. Northern Region System Strengthening scheme-XV at an estimated cost of INR 520.48 crore with commissioning schedule of 33 months
10. Northern Region System Strengthening scheme-XVIII at an estimated cost of INR 509.66 crore with commissioning schedule of 33 months
11. Transmission system associated with HEP at an estimated cost of INR 184.19 crore with commissioning schedule of 33 months
12. 765kV system for Central part of the Northern Grid Part I at an estimated cost of INR 1347.32 crore with commissioning schedule of 36 month
(Sourced from Projects Today)
Downsizing deals - INTUC wants industries to restrain from lay offs - 18 Feb 2009 Statesman News Service reported that the Orissa unit of the INTUC warned industrial houses against lay offs or retrenchment on the plea of global meltdown and said the UPA government had initiated several measures to ease the impact on industries and there was no reason for any lay off or retrenchment.
Adopting several resolutions at its 23rd State Convention, the INTUC came down heavily on the BJD-BJP government in the state and described it as anti poor and anti working class.
It said that “The state government is busy placating big industrial houses without bothering a bit for the workers.”
INTUC demanded immediate enhancement of the minimum wages for the skilled workers to INR 150 per day. Mr Ramachandra Khuntia president and MP of INTUC said that "Salary of the employees working in state run PSUs, Insurance Company, Gramya Banks have not been revised as per the recommendation of the 6th Pay Commission."
Significantly, the INTUC asserted that all mining leases should be cancelled and the Orissa Mining Corporation should be entrusted with the task of mining and supply of ore to private companies as per their requirements on valid market rates.
(Sourced from Statesman News Service)
CSC to cut prices by 14% in Q2 - 18 Feb 2009 China Steel said that it will slash domestic prices in April and May on weak demand during the global downturn, but it expects a pickup on stronger demand from China.
Asia's 17th largest steelmaker said it will lower the prices by an average 14%, its second straight cut, reflecting weak demand.
China Steel in a statement said that "The decision of the cut is aimed to help local downstream makers to aggressively win orders in overseas markets.”
It said that “Steel prices in most countries have stabilized on supply cuts. Those of China, in particular, have risen since late November adding the cut will apply to April and May only, because China Steel is optimistic about future prices in June.”
(Sourced from Reuters)
Indian iron ore spot FOB prices retract in last 7 days - 18 Feb 2009 It is reported that spot prices of iron ore fines FOB East Coat of India, except for Fe 63.5 / 63%, have weakened during last 7 days
| Grade | Change | %
| | Fe 63.5/63% | 1 | 1%
| | Fe 63.5/62.5% | 2 | 3%
| | Fe 61 / 60 % | 1 | 2%
| | Fe 59 / 58 % | 4 | 7%
| | Fe 58 / 57% | 1 | 2%
| | | |
Change is during February 17th and February 10th 2009
Change is in USD per tonne
As reported on February 11th 2009, spot prices of Indian iron ore fines had surged during the first 10 days of February 2009.| Grade | Change | %
| | Fe 63.5/63% | 2 | 3%
| | Fe 63.5/62.5% | 1 | 1%
| | Fe 61 / 60 % | 3 | 5%
| | Fe 59 / 58 % | 2 | 4%
| | Fe 58 / 57% | 3 | 7%
| | | |
Change is during February 10th and January 31st 2009
Change is in USD per tonne
The surge in prices in the first 10 days of February was mainly attributed to upbeat sentiment in Chinese steel sector, on return from Spring Holidays, due to hope of steel price hike on Chinese government stimulus plans. But the price hike sentiment reversed with substantial decrease in Chinese steel prices thus effecting iron ore buying mood.
To keep tab on domestic iron ore spot prices at Bellary and Burbil as well as FOB East coast prices subscribe to “Iron Ore Services” of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com along with your full contact details. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Downsizing deals -2,000 to work half time at Acerinox Palmones - 18 Feb 2009 Reuters reported that Spanish stainless steel maker Acerinox said it was cutting working hours in half for 2,000 workers at its Palmones plant in Campo de Gibraltar at Cadiz in southern Spain to address weak demand.
Acerinox said 82.66% of the workforce accepted the terms of the reduction after talks on Monday.
Mr Paqui Candea deputy chairman of plant's trade union said that "The temporary layoff scheme will affect about 2,000 employees because although the plant's total workforce is 2,267, we need to exclude those who do not participate in the collective bargaining agreement and those who have interim contracts.”
At the beginning of February, Acerinox said it had started talks with workers at the Palmones factory over measures to cut production at the plant.
The steelmaker wants to reduce production capacity to match its order books.
(Sourced from Reuters)
Steel shipment decline accelerates in US and Canada - 18 Feb 2009 The latest Metals Activity Report from the Metals Service Center Institute shows that shipments of steel and aluminum products from US and Canadian metals service centers, down sharply the last two months, fell at unprecedented rates in January 2009.
US steel shipments fell by 42.7% from those of January 2008, while Canadian shipments of steel were down 38.3% YoY.
Despite lower shipments, metals service centers were able to reduce inventories of steel in terms of months of supply.
January shipments of steel from U.S metals service centers totaled 2.6 million tons, as compared with more than 4.5 million tons during the same month in 2008. Month end inventories of 8.48 million tons of steel were 14.9% below the levels of January 2008 and, at current shipping rates, represent a 3.3-month supply.
In Canada, January steel shipments totaled 406,900 tons compared with year-earlier shipments of 659,600 tons. Canadian steel inventories at the end of the month totaled nearly 1.2 million tons, 35.1% below the January 2008 level and, at current shipping rates, equal to a 2.9-month supply.
The Metals Activity Report, based on data from metals service centers in the United States and Canada, is produced by the Metals Service Center Institute and a third party econometrics and strategy firm, McCoy, Scott & Co.
Founded in 1909, the Metals Service Center Institute has more than 400 members operating from about 1,200 locations in the US, Canada, Mexico, and elsewhere in the world. Together, MSCI members constitute the largest single group of metals purchasers in North America, amounting each year to more than 55 million tons of steel, aluminum, and other metals, with about 300,000 manufacturers and fabricators as customers.
Rio Australia iron ore mines hit by rain - 18 Feb 2009 Rio Tinto vide a release announced that a severe low pressure system and associated trough has resulted in prolonged heavy rain across the west Pilbara region in Western Australia from the weekend. The rain and subsequent flooding has had a significant impact on Rio Tinto's iron ore operations.
Rio said that “Further rain is expected across the region and all necessary precautions are in place. Rio Tinto's priority throughout has been on safety, and remains so. No injuries have been reported to date.”
It added that “Many roads are impassable and all employees have been advised to exercise extreme caution. Ten people stranded at Yarraloola station, west of Pannawonica, were evacuated safely by helicopter to Karratha as water rose.”
Rio said that “All operations at Pannawonica and Brockman/Nammuldi have been suspended, and pit operations at Tom Price and Paraburdoo have been suspended. Operations at Marandoo and the east Pilbara mines (Yandicoogina, West Angelas and Hope Downs) have not been significantly impacted at this stage.”
As per release “Most rail movements have been suspended due to flooding, and a comprehensive assessment is being carried out to ensure that operations will be able to resume safely. Track inspections and recovery plans are underway.”
It alos said that “Coastal operations at Dampier and Cape Lambert have also been significantly impacted. Customers have been advised of the event and situation updates will be provided as appropriate. Shipping movements, impeded or curtailed since before the weekend, are expected to resume later today.”
US weekly raw steel production down by 50.5% YoY - 18 Feb 2009 American Iron & Steel Industries reported that in the week ending February 14th 2009, US's raw steel production was 1.083 million tons while the capability utilization rate was 45.4%. Production was 2.186 million tons in the week ending February 14th 2008, while the capability utilization then was 91.6%. The current week production represents a 50.5% YoY decrease from the same period in 2008.
Production for the week ending January February 14th 2009 is up by 0.3% WoW from the previous week ending February 7th 2009 when production was 1.080 million tons and the rate of capability utilization was 45.3%.
Adjusted year to date production through February 14th2009 was 6,673,000 tons, at a capability utilization rate of 44.1%. That is a 52.1% decrease from the 13,909,000 tons during the same period last year, when the capability utilization rate was 90.9%.
District wise production for the week ending February14th 2009
1. Northeast Coast: 90
2. Pittsburgh/Youngstown: 84
3. Lake Erie: 15
4. Detroit: 24
5. Indiana/Chicago: 341
6. Midwest: 105
7. Southern: 384
8. Western: 40.
(In thousands of net tons)
AISI's estimate is based on reports from companies representing about 75% of the US's raw steel capability and includes revisions for previous months.
(Sourced from AISI)
Chinese steel sector amid regrouping fever in 2009 - 18 Feb 2009 Securities Times reported that China's steel industry would embrace a merger and acquisition fever in 2009 backed by industrial policy and financial support.
Rumor flies recently that detailed rules under the revitalization plan for steel sector are expected to be released this month or next. And the revising of steel industry policy and the optimizing of steel consolidation policy, as the affiliated measures, will also be completed within this year.
Mr Li Rongrong director of State owned Assets Supervision & Administration Commission of State Council noted M&A progress for state-backed enterprises should be accelerated. And large groups should take the lead in the campaign to build up global competitive majors.
Analyst Mr Zhang Zhipeng from Aijian Securities said "Future steel concentration will mainly focus on resources regrouping among subsidiaries under big groups."
For example, Baoshan Iron & Steel Co. will take chances to merger the three other listed units, namely, Guangzhou Steel, Shaogang Songshan and Bayi Steel under its parent Baosteel Group. In fact, the deepening world credit crisis offers a perfect timing for domestic leading mills to expand their presences. And totaling 17 regrouping cases occurred last year, like Baosteel regrouped Shaogang and Guangzhou Steel; Wugang merged with Liuzhou Steel.
(Sourced from Securities Times)
Iron ore price negotiations - CISA firm on one price - 18 Feb 2009 Dow Jones Newswires reported that China would not accept different prices for Brazilian and Australian iron ore as it did last year based on freight rates as it is firm on uniform iron ore cost and that Chinese steel mills want to go back to a single benchmark price as was the case in previous years.
Mr Shan Shanghua secretary general of China Iron & Steel Association said that "There will be one price for all. We will not take shipping costs into consideration. It is a question of fairness of competition."
Last year, Australian and Brazilian miners broke the tradition of a single benchmark price and successfully negotiated different prices based on the varying costs of different shipping routes. The Anglo Australian miners said their price increases ought to reflect the cheaper cost of shipping Australian ore to Asian mills.
A media report last week had suggested Chinese negotiators might accept different rates this year too, but Mr Shan ruled out any such plan.
(Sourced from DJ)
Sims Metal Management acquires UK metals recycler - 18 Feb 2009 Sims Metal Management Limited announced that it has completed the acquisition of Birmingham UK based metals recycler, All Metal Recovery Limited. The financial terms of the deal, including price, were not disclosed.
Founded in 1986, AMR was one of the fastest growing independent metals recyclers in the UK, employing over 60 people.
AMR operates two scrap yards in Smethwick, England, and a 4 acre dedicated rail link facility to transport ferrous and nonferrous scrap to end users.
Mr Tom Bird UK Managing Director of SimsMM said "We are delighted with this acquisition and look forward to welcoming the team from AMR to SimsMM. We have been looking to build our presence in the strategically important central location of the West Midlands for some time, but have taken a prudent approach to expansion. This has allowed us to make this acquisition at the right point in the business cycle."
He added that "The AMR acquisition will build upon SimsMM's metal recycling businesses in Halesowen, and is consistent with our strategy to source tonnes for our major facilities in the UK. It will bring many synergies with our other Midland's operations, one example being AMR's rail link facility, which provides an efficient logistics path between our export operations and domestic markets."
The company was founded in 1986 and was one of the fastest growing independent metals recyclers in the U.K., said Tom Bird, U.K. managing director of Sims Metal Management.
Sims Metal Management has 230 metal recycling operations globally and employs more than 6,000 workers.
Xstrata halts Ravensworth coal mine after fetal accident - 18 Feb 2009 Bloomberg reported that Xstrata Plc has halted operations at its Ravensworth underground coal mine in Australia’s New South Wales state after a worker was killed.
New South Wales Police in a statement on its Web site said that the accident happened at about 2:20 AM when a 59 year old man drove his truck and trailer into a coal loader at the mine near Singleton. The coal loader’s chute was activated a short time later, dumping a large amount of coal onto the cab of the truck, crushing the driver.
Mr James Rickards spokesman for Xstrata’s coal unit in Sydney said that a driver of a coal truck was found deceased this morning in the cabin of the vehicle and the company is working with authorities to determine how the accident occurred.”
He said that “We have shut down the site and all people not involved in the investigation have gone home.”
The Hunter Valley mine was previously owned by Resource Pacific Holdings Ltd.
(Sourced from Bloomberg)
Middle East steel demand could drop by 35% - Analysts - 18 Feb 2009 Reuters reported that steel demand from the Gulf States construction industry could slump as much as 35% in 2009, as the global credit crisis slams the brakes on economic growth in the region.
Analyst said that construction makes up the bulk of steel demand in the Gulf and an infrastructure boom fuelled by record oil prices has slowed due to lower energy prices and tighter credit conditions. A key factor for the slowdown in construction in the Middle East has been the rising cost of project and trade financing as banks display a weaker appetite for risk.
According to market research firm Proleads, Fortunes have shifted drastically since the financial crisis deepened in the H2 of 2008. Companies have slashed thousands of jobs and USD 583 billion worth of building projects in the UAE federation have been put on hold.
Mr John Short executive director for steel and base metals at the Dubai Multi Commodities Centre said that "It's obvious to most that demand will come off with announced slowdowns less on site consumption occurring per active project, stoppages of active projects and less building project starts."
Mr Short said that the construction industry accounts for more than 80% of Gulf steel demand. Globally, the automotive industry and construction are the main consumers of the USD 800 billion market. He said that estimates for consumption in 2009 varied from 9 million tonnes to 13 million tonnes in Gulf States, down from about 14 million tonnes in 2008. Lack of demand has boosted inventories in the region over the past five months, with some analysts putting them at around 2 million tonnes.
Mr Short said that "While the cost of money interest rates in most economies is down, regionally it remains relatively high. This is particularly the case in the construction and real estate sectors, where lenders' concerns on the financial health of the sectors and their borrowers translate into significant risk premiums being applied."
Mr Peter Fish a senior consultant at MEPS International said that "It is clearly well known that inventories in the region are extremely high."
Mr Siddartha Sengupta managing consultant with Hatch Beddows said that "Demand is starting to seize up because there is a huge crisis in being able to secure financing."
Mr Sengupta said that "It's very difficult to make a forecast. There are just too many variables in play."
He said that "And it is largely due to the state of the global economy, that is something no really has a handle on at the moment, except that it is just getting worse."
Arab governments have adopted a series of measures to thaw frozen credit markets to help spur corporate borrowing and boost waning investor confidence. Analysts said that Saudi and the UAE cut interest rates in January, but the move has done little to boost the ability of construction firms to source the money needed to buy steel and other materials, despite falling commodity prices. Steel rebar prices are now pegged below USD 500 a tonne, down from the peak of around USD 1,200 a tonne seen in the Q4 of 2008.
(Sourced from Reuters)
Vallourec & Mannesmann orders for Tenova pit furnace - 18 Feb 2009 Vallourec & Mannesmann Tubes Deutschland GmbH has awarded TENOVA ITALIMPIANTI Deutschland GmbH in Düsseldorf, a Company of TENOVA LOI Italimpianti, the contract for engineering, fabrication, erection and commissioning of one pit furnace to be installed in Düsseldorf-Reisholz.
The new pit, supplied in addition to the existing ones, is designed for a load capacity of 220 tonnes of round pieces having different steel qualities and heated up to 1,320 degree centigrade.
The furnace based on a turn-key contract is equipped with the newest innovative combustion control technology considering the use of LO-NOx-High-Speed-Burners, designed for running with natural gas.
The furnace is also provided with the handling system for charging and discharging the round pieces.
The pit furnace will be started up in August 2009.
Tenova LOI ITALIMPIANTI is a leading supplier of industrial furnaces and services for the metal industry. Tenova designs and supplies advanced technologies, products and services for the metal and mining industries.
Rio Tinto unit increases stake in Kalahari Minerals - 18 Feb 2009 Mining company Kalahari Minerals Plc said that Rio Tinto International Holdings Australia Pty Ltd had bought about 3.45 million Kalahari shares, raising its stake in the company to 15.8%.
Kalahari said that it would seek to remain independent from Rio Tinto to ensure that Kalahari shareholders receive maximum value from the company's interest in Australia-based uranium explorer Extract Resources Ltd.
Kalahari has a 40.6% stake in Extract, which holds a portfolio of uranium deposits in Namibia including the Rossing South discovery, which lies adjacent to Rio Tinto's Rossing mine.
Kalahari in a statement said that "While Rio Tinto's increased interest represents an endorsement of Extract's prospects and of the Rossing South deposit in particular, the board of Kalahari considers it imperative for Kalahari and Extract to remain independent from Rio in order for them to fully secure the inherent value of Extract's projects.”
(Sourced from Reuters)
ThyssenKrupp Elevator receives first TWIN order from Dubai - 18 Feb 2009 ThyssenKrupp Elevator has received an order to supply two TWIN systems with a total of four cabs as well as 17 conventional elevators for the Latifa Tower in Dubai, United Arab Emirates.
On completion of the 210 meter high residential and office building planned for 2010, these will be the first TWIN elevator installations in use in Dubai. While the upper TWIN cabs in the Latifa Tower will travel in the shafts at up to 6 meters per second, the lower cabs will reach a speed of up to 4 meters per second.
In addition to the two TWIN systems, two of the 17 conventional elevators are also suitable for use as TWINs. If needed, they can be extended into a complete TWIN system through the installation of a second cab. In the Latifa Tower, as in all buildings with TWINs, the intelligent destination selection control system from ThyssenKrupp Elevator will also be used: Prior to entering the cab, the passenger selects his destination via a touch screen. A computer then selects and displays the fastest elevator. Thanks to minimized waiting times and with as few stops as possible, the passenger is transported to the desired floor quickly and conveniently.
The increasing number of TWINs around the world shows that architects and developers have been won over by the innovative elevator system and its advantages - including reductions in building volume and greater capacity. In numerous new buildings and modernization projects in Germany, the Netherlands, Spain, the United Kingdom, Russia, South Korea, Saudi Arabia and Australia, TWIN systems are already in use or are currently being installed. Further projects are planned. TWINs are offered exclusively by ThyssenKrupp Elevator.
ThyssenKrupp Elevator is one of the leading elevator companies in the world and represented at over 800 locations in more than 60 countries. With 43,000 employees, the company generated sales of over 4.9 billion euros in the fiscal year to September 30, 2008. Its capabilities include passenger and freight elevators, escalators and moving walks, stair and platform lifts, passenger boarding bridges as well as quality service for all products.
BDI restarts upward climb on February 17 2009 - 18 Feb 2009 It is reported that on February 17th 2009, Baltic Dry Index reached 1895 points up by 49 points as compared to February 16th 2009.
Capsize | | BCI | Change
| | INDEX | 3,356 | 186
| | SPOT 4 TCE AVG | 31,370 | 2265
| | February 16th | 31,370 |
| | Year Ago | 120,607 |
| | | |
All except INDEX in USD
Change is with respect to February 16th 2009 numbers
Panamax| | BPI | Change
| | INDEX | 1,305 | -30
| | SPOT 4 TCE AVG | 10,442 | -246
| | February 16th | 10,688 |
| | Year Ago | 58,280 |
| | | |
All except INDEX in USD
Change is with respect to February 16th 2009 numbers
Supramax| | BSI | Change
| | INDEX | 1,213 | 4
| | SPOT 4 TCE AVG | 12,685 | 43
| | February 16th | 12,642 |
| | Year Ago | 44,942 |
| | | |
All except INDEX in USD
Change is with respect to February 16th 2009 numbers
To keep tab on steel prices in India on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com. Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Iron ore traders turn cautious on steel price weakness - 18 Feb 2009 Platts reported that the recent steel price weakness particularly the Chinese domestic HRC has taken its toll on the upstream raw material prices.
Traders said that Platts benchmark price of 62% Fe-content seaborne iron ore fines edged down USD 1 per DMT to USD 76.50 per DMT CFR North China last Friday.
Other sources suggested that buyers were deliberately holding back to influence the spot price ahead of annual contract negotiations. Price negotiation in India on 63.5/63% materials was heard below USD 81 per DMT to USD 83 per DMT CFR North China, but no deals were heard concluded.
In fact, traders were hesitant in taking new positions. Some were even worried about getting out of existing positions. Not surprisingly, traders reported Chinese port selling prices for 63.5/63% Fe fines USD 83 per DMT to USD 85 per DMT CFR North China, down from USD 86 per DMT in early February. Having said that, USD 86 per DMT CFR North China was still being offered Monday for this grade, adding mist to an already capricious iron ore market. Some traders said it normally took a while for miners to adjust prices.
One trader said that "Miners are keen to support sentiment as long as
Possible."
A source reported selling a Panamax cargo of 65% Fe materials at USD 75.5 per DMT FOB India. Some trades could not be concluded apparently because the differences between bid and offer. A 61% cargo offered in India had a bid price at USD 74 per DMT CFR North China but a much higher offer price of USD 78 per DMT.
Similarly for 63/62 Fe, one trader said that it should be sold at USD 80 per DMT CFR North China to meet buying interests. Traders reported muted demand from Chinese customers making traders very cautious and especially those with large positions following the recent buying spree.
A broker in London said Platts that he observed that derivatives are coming off and there is more sell side at present levels than buy side. Also, traders expect iron ore market volatility to increase. One said that the market is obviously on the downtrend. It might even drop USD 7-8 this week."
Sources said that the freight market echoed a softer iron ore market and continued to drop last Monday. Handies from East India to China were unchanged since last Friday at USD 11 per WMT to USD 12 per WMT, but one trader said that it was easy to knock off a dollar from this level after some negotiation. Freight rates on Panamax vessels from India to China dropped to USD 8 per WMT from USD 9 per WMT to USD 10 per WMT previously.
Meanwhile, capesized vessels can be booked at USD 24 per WMT from Brazil to China, a notch lower than USD 27 per WMT to USD 28 per WMT, its recent peak. Iron ore port congestion in East India worsened to 30 days' waiting time for manual loading at Haldia. Previously reported delay for manual loading at Haldia port was 20-25 days.
(Sourced from Platts.com)
Updates on Japan and Korean SBQ plate deal - 18 Feb 2009 A major integrated steel company of Japan has settled its ship plate export deal at around USD 700 per ton FOB with a major shipbuilding company of South Korea for shipments in April to September 2009.
What price level would be settled between the two sides this time was a matter of attention earlier. At the time, information was afloat that China's integrated steelmakers had been negotiating their deals of ship plate exports to South Korea at USD 600 to USD 650 per tonne FOB for April to June shipments.
Until recently, supply and demand conditions for ship plates continued fairly tight in Asia. As a result, Japanese integrated steelmakers won high prices beyond USD 1,000 per tonne FOB in their ship plate exports to South Korea and China.
Meanwhile, small and midsize shipbuilding companies in South Korea and China have fallen into a tough environment for their operations in the wake of shipowners' requests one after another for construction and delivery deferrals in their ship orders or cancellations of tonnage on order.
In China, small and midsize steelmakers face lost heavy plate orders from local small and midsize shipyards. As a result, those steelmakers have responded with active moves to sell heavy plates at low prices for export deals with South Korea's major shipbuilding companies.
(Sourced from Tex Report)
TMK Receives ISO 9001 Certification - 18 Feb 2009 TMK announced today that it received ISO 9001:2000 certification from the management system assessment company Lloyd's Register Quality Assurance.
TMK is the first pipe company in the CIS to be awarded the ISO 9001 certification for its quality management system together with its subsidiaries. LRQA confirmed that the quality management system and processes implemented at all company levels, which include product design and development, production, marketing, shipping and servicing, allow the Company to effectively meet customer requirements.
Mr Alexander Shiryaev CEO of TMK commenting on the successful certification said “TMK continues to follow global best practices in managing its business. Last year, the Company completed the implementation of an SAP ERP based corporate information system and introduced quality management system and processes and these are now certified by LRQA. The ISO 9001 certification ensures that all TMK subsidiaries maintain the same high-quality production standards and meet customer satisfaction requirements.”
China steel industry is looking up - Chinese Premier - 18 Feb 2009 Reuters cited Mr Wen Jiabao China's Premier as saying that the country's steel industry was on the road to recovery thanks in part to the government's stimulus policies. His comments underscored official optimism that China is in a strong position to ride out the global financial storm and that companies should use the challenging environment to push ahead with major reforms.
There have been tentative signs of a slight upturn in China's steel industry, with some steel mills increasing spot purchases of iron ore from abroad, spurring speculation that the government's economic stimulus is having an impact.
Mr Wen was quoted as saying on the government website signs that the steel industry is turning better are related to national policies for promoting car and electronics sales in rural areas. He called on steel companies to expand their domestic market and stabilize their external market; to upgrade their technology and increase their efficiency; and to improve their internal management.
In a visit to a textile firm in Tianjin, a port city near Beijing, he also urged the textile industry to improve its competitiveness and adjust its product structure in the face of slumping demand.
(Sourced from Reuters)
Scrap price CFR Turkey dips to USD 218 per tonne - 18 Feb 2009 According to market reports, current selling price of H1 & H2 (70:30) mixed scrap CFR Turkey is USD 218 per tonne.
Sandvik acquires Austrian tungsten producer WBH - 18 Feb 2009 Sandvik has reached an agreement to acquire Wolfram Bergbau- und Hütten-GmbH Nfg KG (WBH), an Austrian producer and supplier of tungsten products. The acquisition is expected to be completed during the second quarter of 2009, after approval by relevant anti trust authorities.
WBH operates a refining plant for producing tungsten carbide, including a chemical plant for recycling tungsten material, at St Martin in Austria, where the headquarter is located. WBH also operates a mine and ore dressing plant at Mittersill in Austria.
WBH is active within the tungsten industry since 1975 and offers tungsten carbide and tungsten metal powders. Sandvik is part of WBH’s global customer base since many years. WBH’s highly qualified R&D-resources have created an outstanding product quality and offering of unique tungsten carbide grades. Tungsten carbide is the primary raw material of cemented carbide, and therefore the acquisition of WBH is of long-term strategic importance for Sandvik.
In 2008, WBH had sales of approximately SEK 1,800 million and 300 employees. WBH will be a separate product area in the business area Sandvik Tooling. WBH will continue to operate independently and develop its business and customer relationships. Burghard Zeiler will continue as managing director.
Mr Anders Thelin president of Sandvik Tooling said that “This acquisition complements and strengthens our business. WBH will bring know-how, technology and capacity for world class production and recycling of tungsten carbide. It provides us with resources to manage the entire production process, from ore to finished cemented carbide powder. In this way we will be able to further strengthen our raw material supply and develop our business and customer offering.”
Zhanjiang Steel to reach 10 million tonnes - 18 Feb 2009 According to Mr Ruan Risheng the mayor of Zhanjiang city Zhanjiang Steel Production Base is now under the preparation work. The preliminary investment of the project is CNY 69.7 billion with the annual capacity of 10 million tonnes.
Mr Ruan said the project would bring out CNY 70 billion of new industrial output value when finished, and would trigger the development of over 200 industrial chain projects and stimulate some CNY 100 billion new investments.
He believes the new project would encourage the development of many industries like machinery, shipbuilding, automobile, household appliance etc, which combining with the Zhanjiang port could therefore form a new industrial cluster in the area, and finally stimulate the integrated development of logistics, business, finance and household industry etc in the region.
(Sourced from MySteel.net)
Visit www.Mysteel.net for real time access to China steel news!
Slowdown signs - Queensland delays coal rail project - 18 Feb 2009 Bloomberg reported that Queensland State has deferred AUD 4 billion rail project in Australia’s north after a fall in demand for coal.
The Australian Financial Review, citing internal Queensland Rail documents, reported that the decision comes after large freight customers issued forecasts for the first two years of the Goonyella to Abbot Point project that were up to 90 lower than original targets.
AFR added that the decision will lead to job losses for contractors doing preliminary work on the project for the government owned rail operator.
(Sourced from Bloomberg)
China major steel product price index (Feb 9-Feb 13, 2009) - 18 Feb 2009 It is reported that CISA released price index for HRC dipped by 2.11 points last week
| Product | Size | Previous week | This week | Change
| | Common wire rod | 6.5 | 112.26 | 111.76 | -0.5
| | Rebar | 12-25 | 112.56 | 112.7 | 0.14
| | Medium plate | 6 | 127.32 | 127.52 | 0.2
| | HR sheet | 1 | 107.4 | 107.96 | 0.56
| | HR coil | 2.75 | 108.68 | 106.57 | -2.11
| | CR sheet | 0.5 | 103.94 | 103.44 | -0.5
| | Galvanized steel sheet | 0.5 | 98.9 | 99.07 | 0.17
| | Seamless steel tube | 159*6 | 110.51 | 110.62 | 0.11
| | | | | |
(Sourced from MySteel.net)
Visit www.Mysteel.net for real time access to China steel news!
3 injured in slag pit explosion at ArcelorMittal Indiana Harbor East - 18 Feb 2009 nwitimes.com reported that 3 contract workers were injured Friday in an explosion at the slag pit at ArcelorMittal's Indiana Harbor East plant.
The report added that ArcelorMittal spokeswoman ms Katie Patterson confirmed the incident, but could not provide information on the condition of the injured workers.
Ms Patterson said that "Emergency personnel were immediately contacted and the incident was investigated. The health and safety of our employees and everyone who works within ArcelorMittal will always be our top priority."
Mr Tom Hargrove, president of United Steelworkers Local 1010, which represents the plant's hourly workers, said that the injured workers are employed by contractors working at the blast furnace No 7 slag pit.
The injured contractors are employed by subcontractors for Lafarge Slag, which has the contract to remove slag from the plant. Mr Hargrove identified one of the subcontractors as Slag Beemsterboer & Ballast.
(Sourced from nwitimes.com)
Readymade information to help you expand your reach in India - 18 Feb 2009 Last 6 months have spelt doom for almost all walks of life, more so for booming steel and consuming sectors in India. Now every company is taking various measures to remain afloat at these trying times and emerge as winner later
In addition to realigning business processes and improving efficiency to reduce costs, one can try to expand business by reaching out to more clients.
But Indian industry is by and far highly defragmented and thus it is quite difficult and time consuming to reach smaller players. Therefore SteelGuru has made an effort over last 12 months to collect the contact details of various segments and has published several directories.
The directories contain only the following details
1. Name
2. Address
3. Phone No
4. Fax No (Wherever available)
5. E Mail (Wherever available)
6. URL (Wherever available)
They are delivered in PDF format through e mail
The list of such directories is as under | Sl | Name | Month | USD | Entries | E mails
| | 1 | Indian Steel Makers | 8-Feb | 1250 | 723 | 446
| | 2 | Stainless Steel Manufacturers in India | 8-Mar | 350 | 55 | 55
| | 3 | Electrical Steel Users in India | 8-May | 800 | 431 | 300
| | 4 | Tin Plate Users in India | 8-May | 625 | 147 | 90
| | 5 | Autopart Manufacturers in India | 8-May | 625 | 431 | 403
| | 6 | Cement Manufacturers in India | 8-Aug | 200 | 186 | 157
| | 7 | Machine Tool Manufacturers in India | 8-Aug | 600 | 389 | 381
| | 8 | Transport Companies in India | 8-Aug | 350 | 176 | 130
| | 9 | Refractory Manufacturers in India | 8-Aug | 350 | 74 | 68
| | 10 | Tube and Pipe makers in India | 8-Aug | 350 | 208 | 129
| | 11 | Overseas Scrap Suppliers to India | 8-Sep | 500 | 1191 | 1074
| | 12 | Indian Marine Industry | 8-Oct | 150 | 49 | 35
| | 13 | Forging Industry in India | 8-Oct | 350 | 121 | 82
| | 14 | Indian Galvanizers | 8-Nov | 350 | 203 | 150
| | 15 | Induction Furnace based steelmakers | 8-Nov | 300 | 399 | 283
| | 16 | Indian Ferroalloy Producers | 8-Nov | 250 | 60 | 60
| | 17 | Alloy steel Manufacturers in India | 8-Dec | 250 | 56 | 50
| | 18 | Wire Drawing Manufacturers in India | 9-Jan | 200 | 70 | 59
| | 19 | Mining Industry in India | 9-Jan | 350 | 162 | 141
| | 20 | Steel Pipe Makers in China | 16-Dec | 500 | 1208 | 1193
| | 21 | Fastners Units in India | 25-Jan | 250 | 274 | 157
| | 22 | Re-Rolling Industry in India | 29-Jan | 300 | 825 | 113
| | 23 | Construction Companies in India | 8 Aug | 950 | 1000 | 749
| | 24 | White and Yellow Goods | 2-Jan | 150 | 107 | 46
| | 25 | Stainless steel supply Chain in China | 8-Jul | 800 | 246 | 246
| | | | | | |
Pl visit http://www.steelguru.com/reports/list.html or send a mail to reports@steelguru.com for further information
Directory of Mining Industry in India - 18 Feb 2009 Published in January 2009, 'Directory of Mining Industry in India' has been comprehensively researched and prepared, to bring you a fully up to date guide to Indian mining industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This directory covers name and product details of 162 mining industries of India in alphabetical as well as location wise order. Look at the information you'll get in the 'Directory of Mining Industry in India'
• Company name -162 entries
• Address-71 entries
• Email-141 entries
• Phone number-162 entries
• Fax number -156 entries
• Mob -6 entries
Format:PDF File
Total no of pages - 96
Delivery by Email on receipt of payment
Price: SD 350 or equivalent in INR
Additional Charges would be levied for delivery of file on a CD or in printed form
How to order: rdering the report is simple. You can order your copy to reports@steelguru.com , which will send you an invoice of the report.
Mechel Targoviste 2008 net profit surges - 18 Feb 2009 Alpha Finance Romania reported that Mechel Targoviste posted RON 106.3 million in net profit in 2008, sharply higher compared to RON 26.1 million in 2007.
According to the report, last year's sales rose 36.7%, to RON 1.1 billion.
The steel plant's main shareholder is Mechel International Holdings AG, part of Russian Mechel steel giant, with an 86.6% stake. Financial Investment Company Oltenia owns 8.9% of the shares.
(Source: Alpha Finance Romania)
Directory of Steel Pipe Makers in China - 18 Feb 2009 Welded pipe and seamless pipe are the two major categories of tubular products in China and are not only used domestically but are exported across the world.
China's seamless pipe enterprises began expansion from 2004. By end of 2006, the nation's capacity of this products reached 16.5 million tonnes. As the world's first producer, China has over 300 seamless steelmakers, a part of which possess first rate manufacturing technology and most advanced facilities, bringing domestic sufficiency close to 90%.
On welded pipe, the producers are distributed more scattered, bulk of which are privately owned and have a relatively big capacity. Yet, many productions are affected by seasonal factors and actual output can be less than the total capacity of 37 million tonnes. ERW accounts for around 80% of the total welded pipe production capacity.
Published in December 2008, 'Directory of Steel Pipe Makers in China ' has been comprehensively researched and prepared, to bring you a fully up to date guide to Chinese steel pipe industries.
Why spend hundreds of hours searching for new contacts? Invest in a copy TODAY!
Content:
This report covers name and product details of 1208 steel pipe manufacturers of China in alphabetical as well as location wise order. Look at the information you'll get in the 'Directory of Steel Pipe Makers in China'
• Company name -1208 entries
• Address-1208 entries
• Email-1193 entries
• Phone number-1207 entries
• Fax number -1203 entries
• Mob -487 entries
Format: PDF File
Total no of pages - 629
Delivery by Email on receipt of payment
Price: SD 500 or equivalent in INR
Additional Charges would be levied for delivery of file on a CD or in printed form
How to order:
Ordering the report is simple. You can order your copy to reports@steelguru.com , who will send you an invoice of the report.
USW commends Mr Obama for selecting USW expert for auto restructuring - 18 Feb 2009 USW said that President Mr Obama selected the perfect negotiator, expert and innovative thinker when he chose Mr Ron Bloom, a special assistant to United Steelworkers International President, to serve as a senior advisor in the Treasury Department for US auto industry restructuring.
Mr Leo W Gerard president of USW said that "Solving the problems of the domestic auto industry is a monumental challenge, but Ron has tremendous ability. There is not much you have not seen when you have restructured 50 companies in bankruptcy.”
Mr Gerad added that "Ron is very passionate in his belief that manufacturing is essential to a healthy economy. The auto industry relationship to manufacturing is as important as Goldman Sachs or Citibank is to the financial community.”
He said that “The administration is lucky to find a person who so deeply believes in organized labor and so clearly understands corporate finance. Saving the domestic auto industry is crucial to the economic renewal of the US. The steel, glass, auto parts, tires, and paper industries produce products for this industry and employ a quarter million of our members alone."
Mr Bloom worked in his position as head of the USW's corporate research, industry analysis and pattern bargaining department. Mr Bloom brought a unique perspective to negotiations when he joined the USW, specializing in dealing with corporations facing financial difficulties or undertaking corporate transactions.
With an MBA from Harvard and experience as a vice president at the investment banking firm of Lazard Freres & Co, and his own firm, Keilin and Bloom, he had experience in corporate finance that enabled him to suggest novel solutions. His restructuring plans are recognized for preserving thousands of manufacturing jobs and health care benefits for workers and retirees alike.
ABB bags USD 63 million power plant order in Saudi Arabia - 18 Feb 2009 ABB, the leading power and automation technology group, has won an order worth USD 63 million from the Saudi Electricity Company, Saudi Arabia’s national power transmission utility, to upgrade 15 substations in the country's Eastern and Central provinces.
The substations are spread over an area of about 1,000 kilometers, and cover a range of voltage levels from 13.8 kV to 230 kV. The project is scheduled for completion in 2011.
ABB will provide a turnkey solution including design, engineering, supply, installation, testing and commissioning. The products to be supplied include power transformers, medium voltage switchgear, protection and control equipment, as well as SCADA (supervisory control and data acquisition) solutions to enable better power monitoring and control.
Mr Peter Leupp head of ABB's Power Systems division said that “This upgrade will help distribute more power to meet increasing industrial and residential electricity demand in the region. It will also strengthen the transmission and distribution network and enhance its efficiency.”
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 120,000 people.
JSL commissioned new silicomanganese capacity - 18 Feb 2009 It is reported that JSL limited has commissioned an additional 50,000 tonnes per annum of low carbon silicomanganese capacity, becoming the largest ferroalloy producer in one location in India at 350,000 tonnes per annum.
JSL now has in 6 submerged arc furnaces for manganese and chrome alloys.
Teck Cominco says its Q4 loss was CAD 607 million - 18 Feb 2009 Teck Cominco Ltd, the world’s second largest zinc producer said its Q4 net loss was CAD 607 million.
Teck Cominco in a statement said that a year earlier, profit was CAD 280 million.
(Sourced from Bloomberg.net)
Readymade information to help you expand your reach in India - 18 Feb 2009 Last 8 months have spelt doom for almost all walks of life, more so for booming steel and consuming sectors in India. Now every company is taking various measures to remain afloat at these trying times and emerge as winner later
In addition to realigning business processes and improving efficiency to reduce costs, one can try to expand business by reaching out to more clients.
But Indian industry is by and far highly defragmented and thus it is quite difficult and time consuming to reach smaller players. Therefore SteelGuru has made an effort over last 12 months to collect the contact details of various segments and has published several directories.
The directories contain only the following details
1. Name
2. Address
3. Phone No
4. Fax No (Wherever available)
5. E Mail (Wherever available)
6. URL (Wherever available)
They are delivered in PDF format through e mail
The list of such directories is as under
Sl Name Month USD Entries E mails
1 Indian Steel Makers 8-Feb 1250 723 446
2 Stainless Steel Manufacturers in India 8-Mar 350 55 55
3 Electrical Steel Users in India 8-May 800 431 300
4 Tin Plate Users in India 8-May 625 147 90
5 Autopart Manufacturers in India 8-May 625 431 403
6 Cement Manufacturers in India 8-Aug 200 186 157
7 Machine Tool Manufacturers in India 8-Aug 600 389 381
8 Transport Companies in India 8-Aug 350 176 130
9 Refractory Manufacturers in India 8-Aug 350 74 68
10 Tube and Pipe makers in India 8-Aug 350 208 129
11 Overseas Scrap Suppliers to India 8-Sep 500 1191 1074
12 Indian Marine Industry 8-Oct 150 49 35
13 Forging Industry in India 8-Oct 350 121 82
14 Indian Galvanizers 8-Nov 350 203 150
15 Induction Furnace based steelmakers 8-Nov 300 399 283
16 Indian Ferroalloy Producers 8-Nov 250 60 60
17 Alloy steel Manufacturers in India 8-Dec 250 56 50
18 Wire Drawing Manufacturers in India 9-Jan 200 70 59
19 Mining Industry in India 9-Jan 350 162 141
20 Steel Pipe Makers in China 16-Dec 500 1208 1193
21 Fastners Units in India 25-Jan 250 274 157
22 Re-Rolling Industry in India 29-Jan 300 825 113
23 Construction Companies in India 8 Aug 950 1000 749
24 White and Yellow Goods 2-Jan 150 107 46
25 Stainless steel supply Chain in China 8-Jul 800 246 246
Pl visit http://www.steelguru.com/reports/list.html or send a mail to reports@steelguru.com for further information
Newcastle coal exports fall by 25% WoW - 18 Feb 2009 Bloomberg reported that coal shipments from Australia’s Newcastle, fell by 25% last week while the number of vessels waiting outside the port also declined.
Newcastle Port Corp said that the volume shipped in the week ended 7 fell to 1.38 million tonne from 1.85 million tonne a week earlier. It said that a total of 17 ships, waiting to load 1.5 million tonne of coal, were lined up outside the port, down from 21 a week ago.
It also said that coal ships waited 8.7 days to load coal, up from 5.3 days a week earlier. The waiting time compared with 1.3 day for general cargo vessels last week.
It said that a total of 19 vessels carrying coal left Newcastle in the week ended February 14. It said that fourteen ships were bound for Japan, two for Mexico, and one each for China, South Korea and Spain.
According to the globalCOAL NEWC Index power plant coal prices at Australia’s Newcastle port rose AUD 2.07 or 2.6% to AUD 80.24 a tonne in the week to February 13
(Sourced from Bloomberg.net)
Slowdown signs - Russian industrial output drops in January - 18 Feb 2009 Bloomberg reported that Russian industrial production slumped more than economists expected in January as demand eroded for cars, trucks and construction materials.
The Moscow-based Federal Statistics Service said output shrank 16% after falling 10.3% in December. That was the biggest contraction since the service moved to a new methodology in 2003. The median estimate in a Bloomberg survey of 12 economists was for a 12% decline. In the month, production dropped 19.9%.
East Europe’s economies are being battered by the global economic decline, which curbed demand for their exports while shutting off credit and investment. Factories across Russia extended New Year holidays into January as the domestic market also shrank. The government expects the economy to shrink 0.2% this year, the first contraction since a default in 1998.
Manufacturing fell an annual 24.1% in January, compared with a 13.2% drop in December. Tire production plummeted 83.1 percent as car and truck output fell 79.7% and 76.4% respectively. Output of cement fell 44.3% as builders struggled to find funds to complete projects.
AvtoVAZ, Russia’s biggest carmaker, idled its production line December 29th for a month, while KamAZ, the nation’s biggest truck producer, resumed output on February 12th after halting production in December.
Mining and quarrying contracted an annual 3.6% in January as iron ore output fell an annual 39.7%. The contraction of industry contributed to joblessness surging by about half a million people in December, boosting the unemployment rate to 7.7%.
(Sourced from Bloomberg)
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