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Stabilizing factors for Chinese steel price in 2010 – CISA

China Securities Journal cited Mr Qi Xiangdong vice secretary general with China Iron & Steel Association at the 2010 Mysteel Annual Conference on December 12th, five major factors will help back up the reasonable steel price level for 2010. 1. They are continued government economic stimulus policy 2. The recovering steel export 3. The [...]

Iron and steel

The top-level review of the security situation at a meeting chaired by the prime minister and attended by the COAS along with other civil and military decision-makers was badly needed. For the moment people remain shaken by the onslaught from militants seen over the past two weeks, with suicide bombings and other acts of terrorism ripping through [...]

OCL Iron and Steel Q2 net loss at Rs 96.32 lakhs

OCL Iron and Steel Ltd has announced the Financial Results for the Quarter ended September 30, 2009. The Net Sales / Income from Operations was at Rs 5409.96 lacs for the quarter ended September 30, 2009 as compared to Rs 6671.99 lacs for quarter ended September 30, 2008. The Net Profit / (Loss) for the quarter ended September 30, 2009 was [...]

STEEL PRICES UNLIKELY TO GO UP IN NOVEMBER: SAIL CHIEF

New Delhi, Oct. 24 The country’s largest steel maker SAIL said on Friday that steel prices are unlikely to go up in November. Speaking on the sidelines of a FICCI conference on Diversifying and Enhancing India’s Steel Consumption, Mr S.K. Roongta, Chairman, SAIL, said, “Let’s wait and see what happens in November, but it is unlikely that [...]

Chinese steel price hike uncertain due to the high inventories

he price movement in last 5 days signals that Chinese domestic steel market has started upturn with prices of benchmark products in WRC posting gains at most of the locations. WRC 6.5mm High Speed Location CNY USD % [...]

Brazil’s steel production, sale increase in September

RIO DE JANEIRO, Oct. 22 (Xinhua) -- Brazil's crude steel production totaled 2.7 million tons in September, up 1.5 percent from August and down 9.9 percent from the same period last year, the Steel Brazil Institute said on Thursday. In the January to September period, Brazil's crude steel production totaled 18.5 million tons, down 31.3 percent from [...]

Ore prices up 11% on hopes of revival

Despite uncertainty in the steel market due to poor demand for long products, iron ore prices have moved up 11 per cent in a month.The prices gained on hopes of revival in construction projects that were hit because of last year’s global economic recession. The benchmark iron ore price, including freight, ex-Chinese ports, firmed up to $91 a [...]

Nucor sees weak steel demand continuing in Q4

NEW YORK, Oct 22 (Reuters) - U.S. steelmaker Nucor Corp. (NUE.N) said on Thursday, demand from service centers improved somewhat along with output in the third quarter, but it did not see increased end use demand, and operating rates could fall in the fourth quarter as plants shut for the holidays. "Apparent demand did increase in the third [...]

UPDATE: China’s September Crude Steel Output Up 29% On Year

BEIJING (Dow Jones)--China's crude steel output in September rose 28.7% on year to 50.71 million metric tons, the National Bureau of Statistics said Thursday. Output was down 3% compared with August. Total output in the January-September period rose 7.5% from a year earlier to 420.4 million tons, the bureau said. In September, China produced [...]

CHINA STEEL CUTS PRICES 1ST TIME IN 6 MONTHS

TAIPEI, Taiwan -- China Steel Corp., Taiwan's biggest producer, will cut domestic prices for the first time in six months after overcapacity led mainland rivals to lower prices. Prices will be reduced by an average 4.5 percent in December, the Kaohsiung-based company said in a statement yesterday. The mill, which takes prices in China into [...]

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