Indian steelmakers have raised prices of domestic HRC this week by Rupees 1,000- 1,500/T in a clear response to last week’s introduction of MIP for steel imports. Platts assessed domestic grade structural HRC 3mm thick higher at Rupees 24,500- 25,000/T (US$360-365/T) ex-works. The steelmakers could raise their price, now that they are free of the pressure of competing against low-priced imports. Domestic prices could rise by a further Rupees 2,000/T next month, as per analysts, as demand is stable. (Source – SBB, London)
Voestalpine, Austria recorded a 1.5% year-on-year increase in revenue to Euro 8.4 billion and a 18.8% rise in pre-tax profit to Euro 629 million for the first nine months (April-December 2015) of its current financial year. Its steel division revenue for the first three quarters went up by 0.8% y-o-y to Euro 2.8 billion. The main reasons for this revenue growth were a boost in gross income and positive effects of an efficiency and cost optimization program in the division. (Source - SBB, London)
A dozen companies are in the race to gain mining rights over a huge iron ore block offered for auction by the Odisha Government. Odisha kicked off the mineral block auction process in December last year with the offering of the Ghorhaburhani- Sagasahi iron ore block with geological reserve of 99.59 MT. The block is at G2 exploration stage and located in Koira sector in Sundargarh district. The block has been reserved for integrated steel plant as end use. (Source - Metal Junction)
The UK is blocking a European rule change which could help combat the flood of cheap Chinese imports. Britain's steel makers are buckling under pressure from the imports as well as other pressures including high energy prices and have shed thousands of jobs in recent months. As per British Govt., application of high import duties would negatively affect steel consumers. (Source - Press Reports)
Evraz North America will indefinitely close its Portland, Oregon, spiral pipe mill. The three primary factors as cited by the company are : delays in regulatory approvals for pipelines in the US and Canada; the influx of unfairly traded and subsidized imported large diameter pipe to the US; and high import duties of up to 50% for potential pipe shipments into Mexico. The large diameter pipe mill, has an annual capacity of 200,000 s.T. and produces API grade pipes for oil and gas sector. (Source - Press Reports)
Some 29 companies or consortia have registered initial interest in buying all or part of the European Union's largest steel plant, Ilva. The Government took over administration of the loss-making Ilva last year to try to save some 16,000 jobs and clean up its polluting factories in the southern Italian city of Taranto. With the EU opening an investigation into possible illegal state aid at steel producer, Rome has put the company up for sale, hoping to wrap up a deal by June 30. (Source - Press Reports)
Voestalpine, Austria recorded a 1.5% year-on-year increase in revenue to Euro 8.4 billion and a 18.8% rise in pre-tax profit to Euro 629 million for the first nine months (April-December 2015) of its current financial year. Its steel division revenue for the first three quarters went up by 0.8% y-o-y to Euro 2.8 billion. The main reasons for this revenue growth were a boost in gross income and positive effects of an efficiency and cost optimization program in the division. (Source - SBB, London)
A dozen companies are in the race to gain mining rights over a huge iron ore block offered for auction by the Odisha Government. Odisha kicked off the mineral block auction process in December last year with the offering of the Ghorhaburhani- Sagasahi iron ore block with geological reserve of 99.59 MT. The block is at G2 exploration stage and located in Koira sector in Sundargarh district. The block has been reserved for integrated steel plant as end use. (Source - Metal Junction)
The UK is blocking a European rule change which could help combat the flood of cheap Chinese imports. Britain's steel makers are buckling under pressure from the imports as well as other pressures including high energy prices and have shed thousands of jobs in recent months. As per British Govt., application of high import duties would negatively affect steel consumers. (Source - Press Reports)
Evraz North America will indefinitely close its Portland, Oregon, spiral pipe mill. The three primary factors as cited by the company are : delays in regulatory approvals for pipelines in the US and Canada; the influx of unfairly traded and subsidized imported large diameter pipe to the US; and high import duties of up to 50% for potential pipe shipments into Mexico. The large diameter pipe mill, has an annual capacity of 200,000 s.T. and produces API grade pipes for oil and gas sector. (Source - Press Reports)
Some 29 companies or consortia have registered initial interest in buying all or part of the European Union's largest steel plant, Ilva. The Government took over administration of the loss-making Ilva last year to try to save some 16,000 jobs and clean up its polluting factories in the southern Italian city of Taranto. With the EU opening an investigation into possible illegal state aid at steel producer, Rome has put the company up for sale, hoping to wrap up a deal by June 30. (Source - Press Reports)
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