Tata Steel Ltd has received final environment clearance for its Rs. 1,877 crore expansion project to be carried out at Jamshedpur Steel Works. Tata Steel will expand crude steel production from 9.7 MTpa o 11 MTPA. This additional production would be realised by augmenting the production capacities of few plant units, namely, sinter plant, pellet plant, steel melting shop and the mills, revamping of two existing blast furnaces and installation of a new lime plant. (Source - Steel Orbis)
Liberty Steel of the UK has purchased a rod and bar mill as well as an electric arc furnace from the former Thamesteel works in Sheerness, Kent. The plan is to move the equipment to Liberty Steel Newport (LSN) works: however, the longterm future of the plant is uncertain as high UK energy costs may force the group to move the assets offshore. The 800,000 Tpa former Thamesteel plant has to be moved from Sheerness by June under the terms of the sale agreement. (Source – SBB, London)
JSPL is exploring partial or complete sale of power assets. The company aimed to get about Rs 20,000 crore from the sale. JSPL’s long-term debt stood at Rs. 34,975.65 crore at the end of September quarter. (Source - Press Reports)
The rally in the price of iron ore continued with the Northern China benchmark import price advancing to a four-and-a-half month high. The iron ore price was US$ 51.70/T on Thursday and is now up 20.5% since the start of the year. Supply disruptions in Australia due to bad weather and restocking following the Chinese lunar new year buoyed the market and helped iron ore outperform steel prices by a wide margin in February. (Source – Mining)
After 18 months of mostly dropping, heavy plate prices in northwest Europe are slowly starting to recover fueled by strong upward pressure from producers, seasonal restocking and diminishing impact of Chinese imports. Tier one plate producers have put their offers up by Euro 10-25/T following earlier hikes in the UK. Platts daily plate price assessment for the domestic market stood at Euro 365/T ex-works Ruhr, Euro 10/T up on day. (Source – SBB, London)
Essar Steel has won the first iron ore mine auctioned by the Government, bagging the Ghoraburhani-Sagasahi iron ore mine in Odisha at a premium of 44% of the average price in aggressive bidding involving seven steel firms. The auction is expected to yield Rs 11,328 crore to Odisha state exchequer. Seven steel companies, including Tata Steel, JSPL, Bhushan Power & Steel, JSW, RINL, participated in the auction. Ghoraburhani-Sagasahi mine, spread over 139.2 hectares, is estimated to have 99.59 MT of reserves. (Source – Press Reports)
Liberty Steel of the UK has purchased a rod and bar mill as well as an electric arc furnace from the former Thamesteel works in Sheerness, Kent. The plan is to move the equipment to Liberty Steel Newport (LSN) works: however, the longterm future of the plant is uncertain as high UK energy costs may force the group to move the assets offshore. The 800,000 Tpa former Thamesteel plant has to be moved from Sheerness by June under the terms of the sale agreement. (Source – SBB, London)
JSPL is exploring partial or complete sale of power assets. The company aimed to get about Rs 20,000 crore from the sale. JSPL’s long-term debt stood at Rs. 34,975.65 crore at the end of September quarter. (Source - Press Reports)
The rally in the price of iron ore continued with the Northern China benchmark import price advancing to a four-and-a-half month high. The iron ore price was US$ 51.70/T on Thursday and is now up 20.5% since the start of the year. Supply disruptions in Australia due to bad weather and restocking following the Chinese lunar new year buoyed the market and helped iron ore outperform steel prices by a wide margin in February. (Source – Mining)
After 18 months of mostly dropping, heavy plate prices in northwest Europe are slowly starting to recover fueled by strong upward pressure from producers, seasonal restocking and diminishing impact of Chinese imports. Tier one plate producers have put their offers up by Euro 10-25/T following earlier hikes in the UK. Platts daily plate price assessment for the domestic market stood at Euro 365/T ex-works Ruhr, Euro 10/T up on day. (Source – SBB, London)
Essar Steel has won the first iron ore mine auctioned by the Government, bagging the Ghoraburhani-Sagasahi iron ore mine in Odisha at a premium of 44% of the average price in aggressive bidding involving seven steel firms. The auction is expected to yield Rs 11,328 crore to Odisha state exchequer. Seven steel companies, including Tata Steel, JSPL, Bhushan Power & Steel, JSW, RINL, participated in the auction. Ghoraburhani-Sagasahi mine, spread over 139.2 hectares, is estimated to have 99.59 MT of reserves. (Source – Press Reports)
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