Iron ore price slumps below $US92 to two-month low - The AustralianThu, 21 Aug 2014 23:50:07 +0100
At the current price point, iron ore is at its lowest level since June 18, when it traded at $US90.30. Earlier in June, the iron ore price dropped to as low as $US89 a tonne, but despite a minor rebound since then year-to-date falls are still over 30 ...
TVA board votes to retire Memphis coal plantThu, 21 Aug 2014 21:17:52 +0100
The Tennessee Valley Authority's board voted Thursday to retire the coal-fired Allen Fossil Plant in Memphis and replace it with a natural-gas facility, marking another step by the nation's largest utility ...
Jindal SAW's US unit to acquire American steel pipe making firm - ...Thu, 21 Aug 2014 16:49:59 +0100
Jindal SAW Ltd, through its step-down subsidiary Jindal Tubular USA LLC, is acquiring PSL North America LLC, a US-based steel pipe making firm, for an undisclosed amount, as per a stock market disclosure. The acquisition is expected to be completed by ...
Tata Steel : 357 apply for 36 Tata Steel apprenticeshipsThu, 21 Aug 2014 15:46:00 +0100
THE 36 apprenticeships on offer at the Tata Steel works in Scunthorpe from next month have been filled after a total of 357 school-leavers applied for the posts. It is the seventh successive year the Indian owners of the site have invested in ...
Hike in royalty detrimental to iron ore mining industry - Business ...Thu, 21 Aug 2014 15:33:39 +0100
Increase in royalty rates of minerals approved by the union cabinet on Wednesday, will be detrimental to the iron ore mining industry when the production is strictly regulated in various states. The new rates however have not been notified yet but that ...
Why the Columbus acquisition is a key driver for Steel Dynamics - ...Thu, 21 Aug 2014 14:12:22 +0100
Columbus is the North American unit of Russian steel maker Severstal. Severstal decided to exit the North American market by selling its operations. It's believed that the decision was a result of the ongoing tensions between Russia and the U.S ...
'Steel industry needs finance push by Centre'Thu, 21 Aug 2014 14:06:00 +0100
VISAKHAPATNAM: The central government should create a specialized institution on the lines of the Power Finance Corporation to raise and provide long-term finance for steel industries to expand their capacity, said Rashtriya Ispat Nigam Limited (RINL ...
Broker ICAP launches global coking coal desk in SingaporeThu, 21 Aug 2014 11:11:04 +0100
Interdealer broker ICAP (LSE: IAP.L - news) 's energy arm said on Thursday it has launched a global coking coal trading desk in Singapore, taking another step in its push into Asia and capitalising on greater demand for coking coal derivatives. Coking coal is mostly used in blast furnaces to smelt iron ore for steel production. ICAP Energy said coking coal derivatives have grown in significance ...
ArcelorMittal Invests Heavily in German Automotive Steel PlantThu, 21 Aug 2014 10:41:00 +0100
Steel giant ArcelorMittal has has switched to a new symmetrical format for continuous casting line two at its steel plant in Duisburg, Germany, offering customers in the automotive supply sector high-quality steel ingots for producing forgings. The format ...
Steel firms extend falls on reports of royalty increasesThu, 21 Aug 2014 10:23:09 +0100
Reuters Market Eye - Steel shares extend falls: Steel Authority of India(SAIL.NS) down 2.8 percent, while Tata Steel (TISC.NS) is 1.5 percent lower. Media reports that government will increase royalty ...
Miner NWR posts Q2 net loss, confident in capital restructuringThu, 21 Aug 2014 10:13:03 +0100
* Sees steady coking coal price ahead, cost cuts continue PRAGUE, Aug 21 (Reuters) - Czech hard coal miner New World Resources (NWR) posted a 30.2 million euro net loss in the second quarter as it pushes ahead with a capital restructuring plan that faces a crucial vote next week. Hurt by coking coal prices that have dropped by more than half in three years, NWR is cutting costs, seeking new ...
NWR sees steady coking coal price in next few quarters-CFOThu, 21 Aug 2014 08:39:45 +0100
Czech hard coal miner New World Resources expects a steady coking coal price in the next few quarters, Chief Financial Officer Marek Jelinek said on Thursday. NWR had said in July the average agreed price ...
London Mining posts H1 core loss as iron prices slumpThu, 21 Aug 2014 07:21:12 +0100
London Mining Plc reported a core loss for the first half of the year, citing a fall in iron ore prices. The miner also cut the top end of its full-year iron ore production forecast to 5.1 million wet ...
Miner NWR posts Q2 net loss on weaker coal pricesThu, 21 Aug 2014 07:20:44 +0100
Czech hard coal miner New World Resources posted a 30.2 million euro net loss in the second quarter as it pushes ahead with a capital restructuring plan. Analysts polled by Reuters had expected a net loss ...
Buy Tata Steel; target of Rs 612: Firstcall ResearchThu, 21 Aug 2014 05:09:00 +0100
Tata Steel Limited was Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum (mtpa). It is now ...
Business Global steel production up 1.7% year-on-yearWed, 20 Aug 2014 20:22:47 +0100
Global steel production rose 1.7% in July year-on-year, driven mainly by growth in Chinese output, the World Steel Association (WSA) said on Wednesday.Steel is used in most industrial processes and is an important indicator of economic activity.The latest data showed that steel production reached 136.8 million tons last
Global steel production up 1.7% year-on-yearWed, 20 Aug 2014 15:22:47 +0100
The growth in Chinese output is powering global steel production
Reliance On Cost-cutting The Real Bhp Story: Clyde RussellWed, 20 Aug 2014 13:00:30 +0100
BHP Billiton (NYSE: BBL - news) 's plans to spin-off unwanted assets may have received a tepid welcome from investors, but the real news from the mining giant's results is the limits to cost-cutting. Delving into BHP's results presentation on Tuesday shows the company has been successful in cutting expenses, with a 12 percent cut in cash costs at the flagship Western Australian iron ore ...
Glencore Xstrata reports switch into profit - Yahoo NewsWed, 20 Aug 2014 11:54:55 +0100
Yahoo News - The deep loss during the first half of 2013 was largely due to massive write-downs after Swiss commodities group Glencore's merger with Switzerland-based mining company Xstrata. Cost-cutting since then had allowed the company to return to growth and to ...
Arnold Machine Builds Successful Custom Automation System for Nucor ...Wed, 20 Aug 2014 08:02:00 +0100
The partnership with Nucor Steel began once Nucor approached AMI for a fence post automation system. Prior to this, Nucor had produced non-painted, non-spaded posts entirely in-house. The challenge for AMI was to build a fully automated system that ...
World steel industry news from steel on the net - dot com.
News item 1. TVA board votes to retire Memphis coal plant. The Tennessee Valley Authority's board voted Thursday to retire the coal-fired Allen Fossil Plant in Memphis and replace it with a natural-gas facility.
News item 2. Jindal SAW's US unit to acquire American steel pipe making firm -. Jindal SAW Ltd, through its step-down subsidiary Jindal Tubular USA LLC, is acquiring PSL North America LLC, a US-based steel pipe making firm, for an undisclosed amount.
News item 3. Tata Steel : 357 apply for 36 Tata Steel apprenticeships. THE 36 apprenticeships on offer at the Tata Steel works in Scunthorpe from next month have been filled after a total of 357 school-leavers applied for the posts.
News item 4. Hike in royalty detrimental to iron ore mining industry - Business. Increase in royalty rates of minerals approved by the union cabinet on Wednesday, will be detrimental to the iron ore mining industry when the production is strictly regulated in various states.
News item 5. Assore shares fall, iron ore prices down - Independent Online. Johannesburg - Shares of South African iron ore producer Assore slump after Shanghai rebar falls to a record trough on weakness in China's manufacturing sector.
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