India

Tags - India
NMDC- India 's largest iron ore producer registered 28% decline in production for the month of Aug'19 at 1.41 MnT as against 1.95 MnT a month ago. On yearly basis too, production fell by 4% as compared to 1.46 MnT in Aug’18. The production has witnessed a fall amid heavy rains & monsoons and prolonged closure at Donimalai mines. Out of the total production of 1.41 MnT in Aug, 0.79 MnT were from Chhattisgarh mines (down 32% M-o-M), while remaining 0.62 MnT (down 22%) stood from Karnataka mines.
News ID: 6386    Publish Date : 2019/09/05

Southern India based pellet maker - KIOCL has concluded pellet export deal yesterday (i.e 03rd Sept’19) to China. The company concluded 50,000 MT pellet consisting of Fe 64% content with less than 2% alumina. As per the sources, the deal was concluded at around USD 98/MT, FoB India , which will be equivalent to USD 112-113/MT, CFR China.
News ID: 6380    Publish Date : 2019/09/04

Manganese Ore India Ltd (MOIL), a Mini Ratna Schedule-A CPSE, under the administrative control of the Ministry of Steel, is the largest producer of manganese ore in the country.
News ID: 6363    Publish Date : 2019/09/03

Bharat Heavy Electricals Limited - a govt owned unit yesterday in a BSE filing informed that - "a contract to construct a Raw Material Handling System at NMDC's under construction Integrated Steel Plant, Nagarnar, Bastar district — Chhattisgarh, is being executed by BHEL-ISG Bengaluru division."
News ID: 6361    Publish Date : 2019/09/03

Domestic pellet offers in India n market continued to remain stable at the beginning of week 36, 2019.
News ID: 6358    Publish Date : 2019/09/03

India n pellet export market has gained some movement after observing a week's silence. According to market sources reported to SteelMint, an east India based pellet maker has concluded pellet export deal to China for 50,000 MT pellet (Fe 64%, and 3% Al).
News ID: 6356    Publish Date : 2019/09/02

NMDC (Chhattisgarh) supplied total of 169 rakes (0.65 MnT) of iron ore in the month of Aug’19, down 24% against 222 rakes (0.85 MnT) a month before in Jul’19, according to railway movement data maintained with SteelMint. Amid heavy rains, miner's iron ore production and dispatches were learned to have remained adversely impacted.
News ID: 6353    Publish Date : 2019/09/02

Vizag Steel, a leading state owned Pig iron producer and exporter, has issued an export tender of 25,000 MT basic grade steel making Pig iron for any country other than Nepal. The offered material has specifications - C: 3.5 - 4.8%; Mn: 0.50% (max); Si: 1.5% (max); P: 0.12% (max); S: 0.050% (max).
News ID: 6286    Publish Date : 2019/09/03

Ferro Silicon prices moved down in Bhutan despite improving demand. Producers are cutting down prices to entice buyers. However, the demand remains scattered, a few producers are enjoying good demand whereas others are reducing prices and hence, the overall prices are getting affected. Producers in Bhutan were undercutting prices since last week and now the producers have reduced their offer prices as they are facing a cash crunch in the month-end. Many producers are low in inventory.
News ID: 6285    Publish Date : 2019/09/03

Producers in India and Bhutan have maintained the prices of Ferro Silicon despite low demand and thin trading activities. India is experiencing such sluggish demand for Ferro Silicon owing to the bearish Stainless and Steel market and characterized by the oversupply of material. Although, the demand remains scattered, as a few producers were also heard to be booked for the month, while the others are undercutting the prices to attract buyers.
News ID: 6208    Publish Date : 2019/08/28

The SE Asian billet import market is reported to explicit some trades this week. However, no concrete indications were reported by the sources and deal status is still unconfirmed. If sources to be believed; an India n BF grade billet of quantity 10,000 MT, size; 150*150 mm were booked to SE Asia. The deal value was reported to be USD 430-435/MT CFR.
News ID: 6207    Publish Date : 2019/08/28

Neelachal Ispat Nigam Ltd (NINL)- India ’s largest and state owned steel grade pig iron manufacturer & exporter has floated fresh price circular for both steel & foundry grade. Prior to this, the last offers floated by company on 5th Jul'19, after that no fresh offers were quoted.
News ID: 6202    Publish Date : 2019/08/28

India n Ferro Chrome prices are stable despite selling pressure, as Producers are bound to increase the prices, due to the current depreciation of Rupee. Sources said that dealing at any price under INR 66,000/MT in the domestic market won’t be feasible for the producers to trade at. According to credible sources, one of the major Ferro Producers was quoting INR 66,000/MT but no trades were concluded at such rates.
News ID: 6197    Publish Date : 2019/08/27

India 's largest iron ore miner - National Mineral Development Corporation (NMDC) is going to conduct an e-auction of 8,000 MT lump ore, 8,000 MT ROM, 8,000 MT DRCLO and 16,000 MT iron ore fines.
News ID: 6195    Publish Date : 2019/08/27

Amid competitive offers than prices neighboring markets, the company received good response in today's auction.
News ID: 6193    Publish Date : 2019/08/27

Directorate of Mines & Geology (DMG), govt. of Goa has notified base price of iron ore lots for 22nd e-auctions which is to be held tomorrow (i.e. 22nd Aug’19). Total quantity put for auction is 5.341 MnT with base price ranging from INR 300- 500/MT.
News ID: 6181    Publish Date : 2019/08/26

As per the latest market sources, the Commerce Ministry’s trade investigation arm, DGTR (Directorate General of Trade Remedies) has rejected India n Steel Association’s (ISA) plea to impose restrictions on steel imports in the form of 25% Safeguard duty on the grounds that the criterion for applying safeguard duty have not been met.
News ID: 6180    Publish Date : 2019/08/26

India n HRC prices continue to remain on lower side over monotonous demand and mute buying prevailing in domestic market. This week domestic HRC prices registered decline in few markets like Ahmedabad and Bangalore by around INR 750-1000/MT. As per market reports, few major India n steel mills are taking up production cuts owing to slowdown in domestic sales & inventory pile up.
News ID: 6178    Publish Date : 2019/08/26

Refused a loan by a state-run lender and desperate for funds to buy cotton seeds before the summer sowing season window closed, India n farmer Babasaheb Mandlik ran out of choices – he pawned his wife’s gold jewellery.
News ID: 6120    Publish Date : 2019/08/22

According to a recent report, a 7 per cent growth in aluminium demand in India during April-June quarter of the financial year 2019-20 failed to boost production as consumption remained moderate in industries facing liquidity crunch. Sales of aluminium companies also fell by 10.8 per cent in that period as imports grabbed a bigger share of the consumption pie.
News ID: 6084    Publish Date : 2019/08/22

Most Like