Nieuws en info hier plaatsen (deel 4)

1. voda 21 maart 2016 17:06

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   Two iron ore exporters convicted in Odisha
   
   Express News Service reported that 2 Kolkata-based iron ore exporters were on Friday sentenced to one and a half years in jail for illegal export of iron ore in Paradip port. The Judicial Magistrate First Class (JMFC), Kujang, Digbijay Das also imposed a fine of INR18 crore on them.
   
   The two traders, Sanjay Pattwari and Sajan Pattwari, had stockpiled 56,687 tonnes of iron ore at cargo plot no-17 within the prohibited area of Paradip port.
   
   Director, Mines, had detected the unauthorised stockpiling on August 31, 2011 and filed an FIR against the accused at Paradip police station. Accordingly, police registered a case under Section 4 (1-A) and Section-21 of Mines and Minerals Development and Regulation Act, 1957
   
   Source : Express News Service
2. voda 21 maart 2016 17:08

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   Iron ore auction bids not aggressive over the long term - Ind-Ra
   
   The iron ore mine auction bids appear aggressive at the current price levels but if the prices of the iron ore were to revive over the long-term the bids will provide a sufficient cushion to the winner, believes India Ratings and Research (Ind-Ra). The iron ore price to be paid by the successful bidder (based on Essar Steel Limited’s recent win) for the mine is 20% higher than the average sale price of iron ore. However if prices revert to the FY15 levels, the benefit of owning a mine versus procuring iron ore will be seen.
   
   The first iron ore mine auction won by Essar Steel Limited with the bidding price at a premium of 44.35% over the base price, paves the way for the auctioning of the mines. Leasing will ensure raw material security for steel players which were hitherto relying on iron ore procurement from domestic merchant miners like NMDC Limited. The successful bidder can be partially self-reliant on one of the key raw materials used in the manufacturing process of steel.
   
   Seven steel companies, including Tata Steel Limited (‘IND AA’/Negative), Jindal Steel & Power Ltd, Bhushan Power and Steel, JSW Steel (‘IND AA’/Stable)and Rashtriya Ispat Nigam Limited (‘IND AA-’/Stable), participated in the auction. The iron ore price to be paid by the successful bidder for the mine works out to be higher by 20% compared to the average sale price set by the Indian Bureau of Mines (IBM) at INR1860/(tonnes) t, assuming an extraction cost of INR1000/t-1100/t and loading the premium (44.35%), Royalty (15%), district mineral foundation contribution (10%) and NMET contribution (2%), the iron ore price to be paid by the successful bidder for the mine would be around INR2237/t. However, the situation will change if the prices of iron ore reverses to INR3800/t the average price as notified by the IBM over FY15. In such a scenario, the price to be paid by the successful bidder would be INR3424/t, a discount of 10%. The discount reflects the extraction costs which tend to remain fixed even when the prices of the IBM increase. Higher the price increase of iron ore, greater the benefit enjoyed by the successful winner.
   
   Based on Ind-Ra’s calculation, at a 44.35% of a premium to royalty and extraction cost of INR1100/t, the successful winner will be better off having the mine at IBM prices greater than INR2800/t. However, if the players through the use of highly mechanised methods of extraction are able to lower their extraction cost, the benefit of owning the mine despite the aggressive bidding over the long term can be healthy.
   
   Ind-Ra notes that post the successful commencement of production from the mines and auctions in the future, the volume off-take from NMDC Limited and imported iron ore volumes may decline, if most of the large steel players who currently rely on merchant iron-ore procurement are successful in winning the mines. India produced 127mt in FY15 and imported 7.5mt in FY15, with NMDC’s production at 30.5mt in FY15 and 25.9mt in 11mFY16.
   
   In line with the Mines and Minerals (Development and Regulation) (MMDR) Act 2015, the successful bidder is required to make an upfront payment equal to 0.5% of the product of quantity to be mined and average price per unit. The first instalment is to be paid is 10% of the upfront payment to be made within 15 days of being declared the winner. The second instalment of 10% is to be provided on the day the mining lease is granted and the balance 80% is to be granted after 50 days from the date of signing the mining lease.
   
   Ind-Ra additionally notes, the quantum of upfront payment in case of iron ore would not be substantial and it will work out to be nearly INR920m, which Ind-Ra believes is unlikely to stress the leverage profiles of the steel producers materially.
   
   Source : Strategic Research Institute
3. voda 21 maart 2016 17:09

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   Former Vale CEO Mr Roger Agnelli killed in plane crash in Brazil
   
   Reuters reported that Mr Roger Agnelli, the former chief executive officer of Vale SA, the world's largest iron ore producer, was among seven people killed when a small plane crashed on Saturday in the northern suburbs of Brazil's largest city
   
   Emergency services confirmed to Reuters that the pilot and six passengers were killed when the plane slammed into two homes shortly after takeoff from the airport of Campo de Marte in northern São Paulo around 3:20 p.m. local time (1820 GMT).
   
   The 56-year-old Agnelli, his wife Andreia and their two children, Anna Carolina and João, died in the crash, said the source, who asked not be named because of the sensitive nature of the information.
   
   One person on the ground was also injured when the 7-seater CA-9 aircraft crashed into the homes, but other residents were removed unharmed, a spokesman for the local fire department said.
   
   Known for his discipline and hot temper, Agnelli clinched Vale's top job in July 2001 after 19 years as an investment banker with Banco Bradesco SA, one of Vale's controlling shareholders. At the mining giant, he instilled a culture of meritocracy that turned Vale into Brazil's No. 1 exporter for most of last decade and he became one of the country's most well-known executives at home and abroad. In 2012, he partnered with independent investment bank Grupo BTG Pactual SA to create B&A Mineração, an investment company focused on the mining sector.
   
   Source : Reuters
4. voda 21 maart 2016 17:09

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   BHPB improving our Environmental Management in Western Australia
   
   BHP Billiton Western Australia Iron Ore has lodged a Strategic Environmental Assessment (SEA) of its central Pilbara iron ore assets to contribute to the long term environmental planning and management of its operations. The SEA is the first of its kind in the Australian mining industry and gives an overview of the regional environmental footprint of all of the Company’s current and potential future Pilbara-based iron ore operations.
   
   BHP Billiton Western Australia Iron Ore Asset President, Edgar Basto said the Company had been operating in the Pilbara for almost 50 years and understood the environmental impacts of its operations in the region. He said “We are proud to be the first mining company to use our environmental knowledge to prepare and submit a Strategic Environmental Assessment in Australia which could help build a long-term sustainable future for not only WAIO, but also the Western Australian community.”
   
   Mr Basto said “The SEA provides greater visibility of our potential environmental footprint over the next 50 to 100 years, improving our ability, as well as the Government and others in the industry, to plan for future operations. It outlines where we may develop in the future so any potential impacts on the environment can be assessed and adequately managed for future generations.”
   
   Mr. Basto said the Company would still be required to work with relevant departments to ensure necessary approvals were sought for individual projects, but the SEA takes a look at the Company’s environmental plan over the long term in a more considered and complete way.
   
   He said “Previously, we worked through the approval process for individual projects in isolation. We can now look at how future developments may interact and think about what we need to do to manage any impacts in advance. It gives the Company, industry, the community and regulators a more comprehensive understanding of the region, which ultimately helps everyone to more effectively manage our natural resources. It’s about being transparent in our future plans and recognising that environmental impacts are not confined to one particular mining project and should be looked at more holistically.”
   
   The SEA will be made public and open for comment from 21 March 2016 and Mr Basto said the Assessment would provide a readily available source of environmental information for others to draw on.
   
   The SEA will be submitted to both the Commonwealth and WA State Governments for their endorsement.
   
   Decisions on production volumes and the development or execution of further greenfield or expansion projects remain independent commercial decisions that are separate from the SEA.
   
   Source : Strategic Research Institute
5. voda 22 maart 2016 15:42

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   House prices forecast to increase in Vietnam after steel price hike after import duty
   
   VNS reported that he cost of building houses in Vietnam is expected to increase due to the recent rise in steel prices, which will in turn likely cause a spike in home purchase prices. Real estate developers raised these concerns after the Ministry of Industry and Trade announced additional tariffs to be levied on imported steel products
   
   Nguy?n Th? ?i?p, deputy chairman of the Hà N?i Real Estate Club, said the prices of steel and cement account for 40 per cent of a real estate project’s construction costs, and thus the hike in steel prices will definitely lead to a surge in house prices. He said “Property developers whose projects are in the first stage of construction would be the most affected.”
   
   This is a temporary safeguard measure against inexpensive imports that were said to be threatening the domestic industry. Under the new decision, the import tax imposed on steel billets would increase from 10 per cent to 23.3 per cent while the tax imposed on long steel products would rise to 14.2 per cent from below 5 per cent. With the new tariff, steel prices are expected to increase by three per cent.
   
   Source : VNS

   Bijlage:
6. voda 22 maart 2016 15:43

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   Fitch downgrades Usiminas' IDRs to C
   
   Fitch Ratings has downgraded the foreign and local currency Issuer Default Ratings of Usinas Siderurgicas de Minas Gerais SA to 'C' from 'B-' and the National rating to C(bra)' from 'BBB-(bra)'. In addition, Fitch has removed the IDRs from Rating Watch Negative. Fitch also downgraded Usiminas' senior unsecured notes to 'C/RR4' from 'B-/RR4'. See below for the full list of rating actions.
   
   Source : Strategic Research Institute
7. voda 22 maart 2016 15:43

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   Ukrainian experts to participate in Ajaokuta Steel in Nigeria - Ambassador
   
   Leadership reported that Ukraine has shown strong interest and commitment in further contributions towards the reconstruction of the Ajaokuta Steel Plant, in Kogi State. Ukraine Ambassador to Nigeria Dr Valerii Aleksandruk noted that Ukrainian experts were ready to take part in the project.
   
   He told “I know that a number of Ukrainian specialists already successfully work on this project on the spot, despite having some problems with their wage and difficulties with their working permits. We count on the support of this important project for the Nigerian economy.”
   
   Source : Leadership

   Bijlage:
8. voda 22 maart 2016 16:27

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   AISI update on raw steel production in US in Week 11
   
   In the week ending March 19, 2016, domestic raw steel production was 1,668,000 net tons while the capability utilization rate was 71.3 percent. Production was 1,601,000 net tons in the week ending March 19, 2015 while the capability utilization then was 67.7 percent. The current week production represents a 4.2 percent increase from the same period in the previous year. Production for the week ending March 19, 2016 is down 3.1 percent from the previous week ending March 12, 2016 when production was 1,722,000 net tons and the rate of capability utilization was 73.6 percent.
   
   Source : Strategic Research Institute
9. voda 22 maart 2016 16:29

   auteur info

   • voda

     Lid sinds: 02 dec 2005

     Laatste bezoek: 04 mrt 2025

   • Aanbevelingen

     Ontvangen: 93412

     Gegeven: 22903

   •    Aantal posts: 384.322

   TMK eying pipe demand from Iranian oil sector
   
   Fars News recently reported that Russia's largest manufacturer of steel pipes for the energy sector is in talks with Iran to supply the country's expanding oil and gas industry. TMK wants more and bigger contracts as Iran's energy industry revives following the lifting of international sanctions
   
   Mr Vladimir Shmatovich, senior vice president for strategy and business development at TMK, in an interview with the WSJ said “If the infrastructure was old before sanctions, now it’s even older. They need everything storage, tankers, refineries. We have a program underway to supply some pipes through spot sales and are working on a longer term contract which could include pipes to transport oil and gas as well as produce it.”
   
   With the world's fourth largest proven crude oil reserves, Iran produces nearly three million barrels of crude per day and aims to boost production by one million barrels. But Iran’s aging oil equipment needs to get upgraded. The country needs USD 200 billion to restore and develop the energy sector after years of underinvestment
   
   TMK was a major supplier of oil and gas pipes to Iran's oil industry before sanctions were introduced.
   
   Source : Fars News
   
10. voda 22 maart 2016 16:30

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    US steel industry's woes not self inflicted – Mr Visclosky
    
    NWI Times reported that US Rep Pete Visclosky told told the Lake County Economic Alliance that the American steel industry suffers from a negative perception, but it’s still the most efficient in the world. He told “Too often people castigate steel. One of the problems I think they face nationally is perception.”
    
    Visclosky told that Northwest Indiana’s steel mills are old and inefficient. He said “Some of those buildings are old, but no one produces steel more efficiently than we do in the United States and in the 1st Congressional District.”
    
    He sia d “In the 1980s, it took 10.1 hours of human labor to produce a ton of steel. Today, it takes 1.9 hours to produce a ton. Next year it will take a little less, hence some of that unfortunate job loss we’ve had in Northwest Indiana.”
    
    He also said that “US steelmakers have in fact reduced energy consumption per ton of steel by 32 percent, because they’ve been getting more efficient. They, for instance, work with a national steel consortium at Purdue University Northwest to squeeze every dollar they can out of the cost of making a ton of steel. The idea that the challenges the industry faces today are of their own doing is categorically false. They’re just not true. Nobody does it better than, not just Northwest Indiana, but also the United States of America.”
    
    He said “The real problem is international overcapacity. The world had 220 million excess tons of overcapacity 10 years ago; that figured has skyrocketed to 600 million tons today.
    
    He said “The Congressional Steel Caucus has been urging the administration to enforce trade laws, including newly passed legislation that’s expected to make it easier to crack down on steel dumping.
    
    He said he would continue to fight for the steel industry and that it remained a foundation of Northwest Indiana’s economy, but stressed that since jobs in the industry won’t grow, the Region needs to diversify, such as by investing in expanded commuter rail.
    
    Source : NWI Times
12. voda 22 maart 2016 16:31

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    Mass meetings to be staged with steel workers in Scunthorpe
    
    Scunthorpe Telegraph reported that MASS meetings of the 3,500 members of the Community, Unite, Sima and GMB trade unions on the Scunthorpe Tata Steel works have been called on March 22 to discuss the pending take-over by Greybull Capital.
    
    The meeting, at the town's Redbourn Sports Club in Cemetery Road, will be assured by union chiefs that Greybull has no plans either to seek a wage reduction or change existing terms and conditions for holiday and sickness entitlements and overtime payments.
    
    The unions have already agreed to a pay freeze for 2016-17 and changes to the current British Steel Pension Fund to pave the way for the Greybull take over.
    
    Mr Paul McBean, chairman of the Scunthorpe works multi-union committee, said “There is no agreement – nor will there be - for a pay cut. The meetings are being held to explain the takeover by Greybull and how it impacts on them going forward. By law there will be changes to the pension scheme which will be explained to our members tomorrow."
    
    A major restructuring of the Scunthorpe steel industry is currently underway with 900 Tata Steel workers in the process of being made redundant. It is understood around 140 contractors have also lost their jobs on the Scunthorpe site.
    
    Source : Scunthorpe Telegraph
13. voda 22 maart 2016 16:32

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    China voices concern about EU's tougher stance toward Chinese steel imports
    
    Xinhua reported that an official with the Ministry of Commerce said on Monday that China is concerned about the tougher stance by the European Commission toward cheap steel imports from China,.
    
    An official in charge of the Trade Remedy and Investigation Bureau of the MOC said “The whole global steel industry is going through pains due to weak economic recovery and cooling demand. The real reason for the EU’s steel industry’s difficulty is shrinking competitiveness.”
    
    He added”Such policies will hinder exporters in exercising their rights of defense, said an unnamed official. Overcapacity is a worldwide industrial problem that needs to be addressed through dialogue and cooperation, and trade protectionism will do little to solve the problem/. China has always been an advocate of anti-trade protectionism and expects the EU to abide by international commitments to avoid sending the wrong signal to the international community.”
    
    The EU called on member states last Wednesday to help in a crackdown on unfairly cheap steel imports from countries such as China and Russia by accelerating and streamlining measures against producers suspected of dumping products onto the European market. The commission said it may speed up procedures by two months, bringing the EU's response time more in line with other countries.
    
    Source : Xinhua
14. voda 22 maart 2016 16:34

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    Global crude steel production in February 2016 dips 3.3% YoY
    
    World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 120 million tonnes in February 2016, a -3.3% decrease compared to February 2015. The crude steel capacity utilisation ratio of the 66 countries in February 2016 was 66.2%. This is -5.7 percentage points lower than February 2015. Compared to January 2016, it is 0.9 percentage points higher.
    
    Region Feb'15 Feb'16 YoY Jan-Feb'15 Jan-Feb'16 YoY
    
    Total 66 countries (2) 124565 120412 -3.3 260953 247285 -5.2
    
    Asia 83966 81085 -3.4 176435 167606 -5
    
    European Union (28) 13966 13081 -6.3 28499 26514 -7
    
    North America 8660 8809 1.7 18700 17911 -4.2
    
    C.I.S. (6) 7929 8154 2.8 16528 16239 -1.8
    
    South America 3511 3180 -9.4 7330 6396 -12.7
    
    Other Europe 2493 2587 3.8 5269 5371 1.9
    
    Middle East 2342 2175 -7.1 4667 4422 -5.2
    
    Africa 1233 912 -26 2563 1930 -24.7
    
    Oceania 465 429 -7.8 963 895 -7
    
    In ‘ 000 tonnes
    Source - worldsteel

    Bijlage:
15. voda 22 maart 2016 16:35

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    Jindal Shadeed inaugurates new rebar mill in Oman
    
    Times of Oman reported that Jindal Shadeed Iron & Steel, a wholly owned subsidiary of Indian conglomerate Jindal group, started operations at its giant steel rebar mill at Sohar Port in Oman. Jindal Shadeed Iron and Steel has invested USD 1.2 billion to set up a 2 million tonne per annum steel melting shop and a 1.4 million tonne per annum rebar mill
    
    Anticipating pick up in demand in construction and road sector in the Gulf Cooperation Council, Mr Naveen Jindal feels Jindal Shadeed Iron and Steel is all set to take advantage of the USD 6 billion market opportunity in the region and hopes to beat competition from China and other steel surplus nations to get a significant pie in the region’s TMT bars market with the newly inaugurated rebar mill.
    
    He told reporters “Unlike other producers in the region, we have an edge when it comes to the cost of production since this technology would allow us to produce TMT bars directly from the hot metal that comes out from the steel melting shops. Having specialised products gives us an edge over imports here of billets from China. We are giving customers here better products.”
    
    The GCC is a political and economic alliance of six nations Oman, Saudi Arabia, Kuwait, Bahrain, Qatar and the United Arab Emirates. GCC requires around 15 million tonnes of steel annually out of which around 3-4 million tonnes is imported. "
    
    Source : Times of Oman
    
16. voda 22 maart 2016 16:36

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    GMS market commentary on shipbreaking in Week 11 - OPPORTUNISTIC BUYING!
    
    Given the opportunistic and frenzied buying witnessed last week, this week was a far muted one as commodity prices cooled following the stunning gains seen in the previous week. Some speculative deals were still being done - especially on the capesize bulker front, taking the total number of capes sold within the first two-and-half months of this year, to the 36 mark.
    
    Despite demand being ripe across all sub-continent locations (especially in India, where, from a low of 20 - 25 late last year, nearly 100 yards are now back online), many open end users remain restrained as they view the recent spike in prices as temporary, anticipating market falls (more of a correction) in the immediate future.
    
    There is however, the mandate to import a healthy dose of vessels before a country’s annual budget, as both the Pakistani and Bangladeshi budgets are due over the first week of June. Notwithstanding, with monsoon also looming on the horizon around the end of May (when the cutting of vessels becomes difficult due to the constant rains), it remains unpredictable how demand and subsequently negotiations with these respective markets will play out.
    
    Meanwhile, despite some marginal improvements on charter rates, we do expect supply to remain strong over this period. Therefore, end buyers should have every possibility to stock their yards with their preferred tonnage – be it large or small LDT bulkers or containers.
    
    Whether end buyer levels improve to meet some of the speculative prices recently paid by cash buyers remains to be seen. After the dramatic losses experienced last year, it comes as some surprise that many cash buyers are still willing to dive back into the buying at such aggressive rates. In the earliest warning signs of an imminent market cooling, Bangladesh steel plate prices collapsed by a mammoth USD 25/LT LDT upon opening on Sunday, putting a cautionary tone to the week ahead.
    
    For week 12 of 2015, GMS demo rankings for the week are as below:
    
    Ranking Country Sentiment GEN CARGO TANKER
    
    1 Bangladesh Improving USD 255/lt ldt USD 285/lt ldt
    
    2 Pakistan Improving USD 250/lt ldt USD 280/lt ldt
    
    3 India Improving USD 245/lt ldt USD 275/lt ldt
    
    4 Turkey Improving USD 170/lt ldt USD 180/lt ldt
    
    5 China Improving USD 140/lt ldt USD 150/lt ldt
    
    Source: Strategic Research Institute
17. voda 22 maart 2016 16:39

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    Only 4 million tonnes of iron ore extracted this season in Goa
    
    Herald Goa reported that only 4 million tonnes of fresh iron ore was extracted till date in the Goa during the ongoing mining season, ending on May 31. By March end, the extraction may touch five million tonnes.
    
    Directorate of Mines and Geology on Monday met mine owners expressing concern over low iron ore production and to work out measures to increase revenue through the balance seven million tonnes of ore awaiting e-auction.
    
    During the meeting it was informed that with 17 mining leases commencing operations, only four million tonnes of fresh ore extractions have been reported, with royalty collection of INR 30 crore.
    
    Mine owner Mr Harish Melvani said the meeting discussed measures to attract more value to the ore proposed for e-auction. He said “The meeting resolved that the government should lower the earnest money for mineral based industries that after purchase of ore would process it and improve its grade. It was also decided to exempt small time industries from payment of earnest amount.”
    
    Mr Melvani was of the opinion that the government should undertake an exercise to segregate balanced ore into lumps and fines, so that interested buyers can go in for ore of their choice. He said “This move will help us fix different base price and get good value.”
    
    The date of the final phase of e-auction, where nearly 7.76 million tonnes of stacked iron ore is to be e-auctioned, is yet to be announced. In the last two years, DMG managed to e-auction 7.24 million tonnes of ore, of which more than 60 per cent remains at the sites.
    
    Source : Herald Goa
    
18. voda 23 maart 2016 16:28

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    ArcelorMittal-koersdoel verhoogd naar $6,00 - Market Talk
    
    AMSTERDAM (Dow Jones)--ArcelorMittal (MT) wordt in koersdoel verhoogd naar $6,00 van $4,50 door Credit Suisse. Het advies blijft neutral. Op korte termijn zijn er volgens de analisten nog hoge risico's voor de staalreus, ondanks dat door de claimemissie de bankconvenanten niet meer in gevaar zijn. De bank wijst verder op kostenbesparingen die ArcelorMittal wil realiseren en een verwachte aantrekkende vraag. Credit Suisse verhoogde de raming voor het bedrijfsresultaat (EBITDA) voor dit jaar naar $4,4 miljard van $4,1 miljard en voor 2017 naar $6,0 miljard van $5,0 miljard. Impulsen voor de koers van ArcelorMittal zijn volgens Credit Suisse verder onder meer een hogere staal- of ijzerertsprijs. China en een seizoensmatige dip kunnen de koers juist drukken. Het aandeel ArcelorMittal sloot dinsdag 2,6% lager op EUR3,80.
    
    
    ABM Financial News, Info@abmfn.nl; redactie: +31(0)20-26 28 999
    
    
19. voda 23 maart 2016 16:53

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    AK Steel Announces Price Increase For Carbon Steel Products
    
    AK Steel announced that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $30 per ton, effective immediately with new orders.
    
    Source : Strategic Research Institute
20. voda 23 maart 2016 16:54

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    Safety audit to be carried out across Scunthorpe works of Tata Steel
    
    Scunthorpe Telegraph reported that a major safety audit is to be carried out on the Tata Steel works in Scunthorpe. Between now and April 28, experts will identify the five main causes of accidents on the 2,000-acre site. The front-runners are moving machinery, falling from height, falling objects, gas and asphyxiation and overhead cranes.
    
    The audit forms part of the annual Steel Safety Day, which the Scunthorpe works will be marking for the third successive year.
    
    This year's campaign, organised by the World Steel Association, will focus on falling from height. Scunthorpe workers will be urged to ensure they have access to training, equipment and preventative techniques.
    
    Dr Edwin Basson, director-general of the World Steel Association, said strong leadership, direct involvement of the management and proactive engagement of all employees and contractors were core requirements for any successful safety and health initiative. Dr Basson said the audits had a major effect in identifying and preventing hazards in the workplace.
    
    More than half a million steelworkers across the world are expected to join in the campaign on April 28.
    
    Source : Scunthorpe Telegraph
21. voda 23 maart 2016 16:54

    auteur info

    • voda

      Lid sinds: 02 dec 2005

      Laatste bezoek: 04 mrt 2025

    • Aanbevelingen

      Ontvangen: 93412

      Gegeven: 22903

    •    Aantal posts: 384.322

    RINL hopes to source iron ore from Kukoonoor block in West Godavari
    
    The Hindu reported that Rashtriya Ispat Nigam Limited is now pinning high hopes to strike it rich by undertaking iron ore mining in Kukunoor area of West Godvari district as the State government had recommended to the Centre to give the mining lease in favour of RINL and the AP Mineral Development Corporation by floating a special purpose vehicle.
    
    As per the survey conducted several years ago, the Kukoonoor block has about 25 to 30 million tonne.
    
    RINL CMD Mr P Madhusudan told The Hindu “As it has spread towards Chhattisgarh and Odisha and the survey was made many years ago, we expect the reserves to be much more than the survey. We are hopeful that the mines in West Godavari will help us in easing our burden to a large extent.”
    
    RINL once ramps up its 6.3 million tonne expansion project, its iron ore requirement will go up to 10 million tonne. It is also working on modernisation of blast furnace and sinter plant to raise its capacity by another million by 2016-17.
    
    Source : The Hindu