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Date:2013/03/20
International credit rating agency Moody's has announced that it has downgraded Russian steelmaker Mechel's rating to B3 from B2, changing its outlook to negative from stable. Moody's stated that the downgrade reflects low coking ...
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Date:2013/03/26
Equity Bulls reported that Gammon Infrastructure Projects Ltd have obtained underwriting of the financial closure for few projects. The projects include:1. Patna Buxar Road Project involving four laning of the Patna Buxar stretch of NH 30 from km 0.0...
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Date:2013/03/22
On Wednesday, Brazil's Vale lifted the force majeure on a number of its coal sales contracts in Mozambique. On February 15, 2013, Vale declared force majeure following heavy rainfall since early February in Tete, Mozambique, creating serious cha...
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Date:2013/03/20
It’s reported that Steel Dynamics, a steel producer and metals recycler in the US forecasted that its earnings in the first quarter of 2013 would be between US$0.17 and US$0.21 per diluted share. Meanwhile, to exclude a favorable tax adjustment of US...
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Date:2013/03/26
Economic Times reported that the Supreme Court took strong exceptions to Geomin Minerals and Marketing's surprising move to dump its lead counsel and to suggest that its MD be allowed to argue the case. The 2 judge bench warned the company that ...
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Date:2013/03/22
UK-based London Mining, a global diversified miner targeting the steel sector, has announced its financial results for 2012. London Mining registered a net loss of $107.8 million in 2012, compared to a net loss of $60 million in 2011. The compan...
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Date:2013/03/20
Goldman Sachs Group Inc. cut its estimate for iron ore prices this year on expectations demand will moderate and steel production will slow in China, the world’s largest buyer. Iron ore may average $139 a metric ton this year from a previous estimate...
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Date:2013/03/26
The Korean steel giant Posco planned to establish two new continuous galvanizing lines in Thailand and Indonesia in order to expand its autosheet market share in the two countries.According to the official of Posco, the company planned to pour US$300...
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Date:2013/03/22
According to the provisional data released by the Japanese Ministry of Finance, in February this year Japan's iron and steel product exports came to 3.6 million metric tons, remaining stable month on month and up 12.8 percent as compared to the ...
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Date:2013/03/20
The ban on iron ore exports two years ago has left major ports bleeding. The cumulative revenue loss for seven major ports is expected to be nearly Rs 645 crore in the current financial year. This is more than triple the number when compared with thr...
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Date:2013/03/25
According to the European Steel Association EUROFER, in January of the current year European Union (EU-27) flat steel exports totaled 1.303 million mt, up 0.85 percent, while long steel exports from the region amounted to 828,000 mt, up 13.73 percent...
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Date:2013/03/21
India and Brazil are discussing to sign a memorandum of understanding (MoU) for cooperation in the steel sector. The MoU signing is scheduled for April, as the Indian relative government department indicated. The Indian steel ministry signed the Lol ...
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Date:2013/03/20
According to a report released by the UK's Office for National Statistics (ONS), in February this year the producer price index (PPI) for the UK manufacturing industry rose by 0.8 percent compared to January this year, following a month-on-month...
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Date:2013/03/25
Lakshmi N Mittal, chairman of the world's largest steelmaking company ArcelorMittal was the chief guest at the convocation ceremony at the Indian Institute of Management- Ahmedabad (IIM-A) on Saturday, where he told the students to be grounded a...
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Date:2013/03/21
Reportedly, Rio Tinto, the world’s second largest iron ore producer, said it expects iron ore prices will face pressure in the second half of the year due to slow growth of steel demand from its top customer, China and increased iron ore supply. Howe...
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Date:2013/03/19
China Steel Structure Corp. (CSSC), the subsidiary company of Taiwan's China Steel Corp. said the company's orders have been full booked until the third quarter of this year.Furthermore, the company expected that its total shipping volumes ...
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Date:2013/03/25
It is reportedly that giant steelmaker of long product Gerdau announced this week that they acquired the remaining stake of its joint venture partner Kalyani Steels at its first plant in India’s Andhra region. The plant has an installed capacity of 3...
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Date:2013/03/21
Recently, MMX Mineracao & Metalico SA (MMX), one of the major iron ore mining companies in Brazil announced its financial report for 2012.The company posted a net loss of BRL792.4 million for 2012, decreasing from a net loss of BRL19.2 million in...
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Date:2013/03/19
It’s reported that Korea’s import prices of Japanese scraps increased by ￥1,000/ton this week.This week, the Korean steelmakers started the price negotiation with the Japanese scrap suppliers. It’s learned that the Korean steelmakers bid ￥34,500/ton ...
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Date:2013/03/25
Reportedly, the import price of rebar in Singapore is barely possible to increase due to the unfavorable global economy and falling raw material prices although the local demand on steel products is quite well.Current price of rebar BS4449 GR460 or G...