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Iron Ore Prices Will Fall to an Average of USD 120 Per Tonne in 2013

Jan 6, 2013

According to a study by Chile's state copper comission Cochilco, iron ore prices will fall to an average of USD 120 per tonne in 2013 before rising again to USD 125 per tonne in 2014. The commission is estimating an average price of USD 125 ...

Tags: Chile, iron ore prices, steel prices, metal market

Seven South Korean Steelmakers Were Fined a Combined USD 273 Million

Jan 6, 2013

Bloomberg reported that antitrust body fined POSCO, Hyundai Hysco Co and five other South Korean steelmakers were fined a combined KRW 291.7 billion (USD 273 million) for fixing the price of some products. The Fair Trade Commission ...

Tags: antitrust body, POSCO, Hyundai Hysco Co, fine, price fixing

MENA Steel Markets Continued to Sulk in 2012

Jan 6, 2013

Middle Eastern & North African steel market, which has been a perpetual laggard in the post recessionary era has punctured all expectation of even a semblance of revival in the last 4 years. Revolutions that swept across the ...

Tags: Middle East Steel Prices, North Africa, steel market

DP World Expansion Work at The Jebel Ali Port Is on Track

Jan 6, 2013

Gulf News reported that DP World expansion work at the Jebel Ali port is on track, as the Dubai based company looks to ramp up the capacity at its flagship facility to meet growing demand. DP World in an emailed statement said that the ...

Tags: DP World, Jebel Ali port, Dubai, flagship facility

Iran and Turkey Surpassed USD 20.8 Billion in The First 11 Months of 2012

Jan 6, 2013

The value of trade between Iran and Turkey surpassed USD 20.8 billion in the first 11 months of 2012, which was a rise of 40% compared to the same period in 2011. The Turkish Statistical Institute said that Turkey’s exports to Iran ...

Tags: value of trade, Iran, Turkey

Fourteen Capesize Vessels Were Hired on Single Cargo Charters to China

Jan 6, 2013

Bloomberg reported that China, buyer of 65% of the world’s iron ore cargoes, expanded the destinations it got the commodity from this year with the first reported spot shipments from Oman, the Philippines and Sierra Leone. According ...

Tags: China, iron ore cargoes, destinations, Oman

The Bombay High Court Has Dismissed a Petition Filed by Zenith Metaplast Pvt Ltd

Jan 6, 2013

PTI reported that the Bombay High Court has dismissed a petition filed by Zenith Metaplast Pvt Ltd praying for allotment of a three acre plot in Nashik to itself and cancellation of adjacent plots allotted to Mahindra&Mahindra Ltd and an ...

Tags: PTI, the Bombay High Court, Zenith Metaplast Pvt Ltd

Genavco to Introduce Renowned Chinese Earth Moving Equipment in The Country

Jan 6, 2013

According to an industry expert, the forecast for massive government spending on infrastructure in the Middle East and specially in the UAE this year will help boost businesses of stakeholders and attract foreign partnership. The UAE ...

Tags: Genavco, Chinese Machinery, infrastructure, UAE

India Has Become The 4th Largest Producer of Crude Steel in The World

Jan 6, 2013

India has become the 4th largest producer of crude steel in the world as against the 8th position in 2003 and is expected to become the 2nd largest producer of crude steel in the world by 2015. India continues to maintain its lead ...

Tags: India, crude steel, DRI, 2012, steel sector

Union Cabinet Recently Approved a License for 7 Projects Taken up in PPP Mode

Jan 6, 2013

The Union Cabinet recently approved a proposal of the Ministry of Shipping for licensing of land to the concessionaires for 7 projects taken up in the Public Private Partnership (PPP) mode. These projects have been taken up in terms of the ...

Tags: UC, licensing of land, PPP, concessionaires

The Times of India Reported That Police Authorities Are Beefing up Their Presence

Jan 6, 2013

The Times of India reported that police authorities are beefing up their presence at Anrak alumina plant area to withstand protests scheduled to be held by Congress party activists at the site. Despite prohibitory orders being clamped in ...

Tags: police authorities, Anrak, alumina plant area, protests

India Is 5th Largest Producer of Electricity in The World

Jan 6, 2013

According to the Planning Commission, the Indian power sector is one of the most diversified in the world. India is the fifth largest producer of electricity in the world and, while the State Governments account for 51.5% of the total ...

Tags: India, power sector, electricity, energy

Copper and Nickel Prices Rose by INR 2 Per Kg Each on The Non Ferrous Metal Market

Jan 6, 2013

Indian Express reported that Copper and nickel prices rose by INR 2 per kg each on the non ferrous metal market today on increased demand from consuming industries and a firming trend at the London Metal Exchange. Traders said the rise ...

Tags: Copper, nickel, London Metal Exchange, India, metal market

State Gained as Much as 4.55 Percent to Touch an Intraday High of Rs 51.65

Jan 6, 2013

State owned National Aluminium Company gained as much as 4.55 percent to touch an intraday high of Rs 51.65 on Wednesday as media reports suggest that the government is looking to divest a little more than 12% in the company in February, ...

Tags: National Aluminium Company, Aluminium, metal mining, metal industry

The List of Countries Likely to Post Negative Growth in Their Crude Steel Production

Jan 6, 2013

Given below is the list of countries likely to post negative growth in their crude steel production for 2012, in ascending order Sl Country 2012 E 2011 YoY 1 Croatia 0 100 ...

Tags: crude steel, steel market, steel production, steel product industry

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