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Saturday January 20th 2018

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Vale to jack up ore price

PRESSURE on iron ore prices ratcheted up with a report that the world's biggest producer wants to increase the prices paid by its domestic steel customers by at least 80 per cent. Brazil's Vale is planning to raise the price paid by Brazilian steelmakers by 40 per cent in March and another 40 per cent in April, according to industry publication [...]

Salzgitter posts 2009 pretax loss

German steelmaker Salzgitter AG says it had a pretax loss last year of euro497 million ($675 million) as a result of the economic downturn. The company made a pretax profit of just over euro1 billion in 2008. Salzgitter did not report net income or fourth-quarter results Friday but will release its full 2009 earnings report on March [...]

China demand pushes up iron ore spot price

Spot iron ore prices hit a fresh 18-month high yesterday as Chinese steelmakers returned to the market after their new year holidays, buying heavily to replenish inventories. The sustained surge in spot iron ore costs points to a record rise in the annual price contracts being negotiated between global miners Vale, Rio Tinto and BHP Billiton [...]

Minister Davies to seek urgent meetings with Kumba, ArcelorMittal and Anglo

Trade and Industry Minister Dr Rob Davies will seek urgent meetings with Kumba Iron Ore (KIO), Anglo American (KIO's majority shareholder) and ArcelorMittal South Africa to discuss the reasons for, as well as the implications of, KIO's announcement that it would cancel the cost plus 3% iron-ore pricing arrangement it had with the steel group as [...]

Steel yourself, cement set to harden

Cement prices are set to increase by at least Rs 10 per bag of 50 kg. The excise duty on cement sold in excess of Rs 190 per bag has been raised to 10% from 8%. This, coupled with the hike in fuel cost and cess on coal, push the cement prices up. Cement faces differential duty structure based on the retail selling price. While the excise duty [...]

Steel prices all set to rise by Rs 600-800/tn

Other measures will have an indirect positive impact. The finance minister has proposed a partial roll back of the rate of reduction in excise duty, enhancing the standard rate on all non-petroleum products from 8 to 10 per cent, which will immediately translate into an increase in prices for the steel sector. Steel prices are expected to [...]

Growing demand, high scrap costs see Pacific Steel raise prices

Farmers and construction companies will face higher costs after the country's only producer of reinforcing steel and wire puts up its prices next Monday. Pacific Steel Group is raising the price of its reinforcing steel bar and wire rod products by 7 per cent to 9 per cent, due to the rising cost of steel scrap and a weaker kiwi [...]

The higher cost of raw material pulled Taiwan stainless steel price up

-It is predicted that Taiwan stainless steel price will increase in March, as the raw material prices such as nickel, stainless steel scrap and ferrochrome increased. It is estimated the largest stainless steel makers in Taiwan-YUSCO and Tang Eng Iron Works will hike the prices of products in Taiwan and the export price. Officials of the both [...]

Chinese steel mills to see 70% rise in raw material costs

There will be a significant increase in steel prices in the next few months as Chinese steel mills could see a surge of 70% or more in the prices of raw materials, said an insider from a large Chinese steel company. The insider said that China's iron ore contract price talks with the world's leading suppliers have entered the final stage and [...]

Steelmakers Eye Big Increase in Raw-Material Costs

Steel consumers should brace themselves for the onset of much higher steel prices in coming months as steelmakers conclude annual negotiations with miners that may result in steelmaking raw material prices rising by 70% or more in 2010, a large steelmaker said. "In the final negotiations...the increase that we are faced with is bringing the [...]

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