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1. voda 4 juni 2015 16:34

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   Iron ore derivatives trade gathers pace as steel consumers pile in
   
   Published on Thu, 04 Jun 2015 44 times viewed
   
   Reuters reported that the derivatives market for iron ore is reaching a tipping point in its strong growth as steel consumers pile in, with contracts traded outside China expected to reach around a billion tonnes this year.
   
   Iron ore derivatives traded on the Singapore Exchange have roughly doubled in volume each year since their launch in 2009, reaching around 550 million tonnes last year and forming an attractive revenue base for banks and brokers.
   
   Mr Mark Lyons, Citibank's global head of iron ore and steel trading said that "This year we're on for a billion tonnes. We are now at the turning point for iron ore hedging, by that I mean consumers of steel in particular are learning to hedge."
   
   Iron ore derivatives volumes have yet to match the roughly 1.3 billion tonnes of physical seaborne iron ore traded globally each year, as the market still lacks the participation of global iron ore producers and steelmakers.
   
   Mr Fidel Blanco, senior managing director of iron ore sales at top iron ore miner Vale said that delegates at the conference his company still has no plans to hedge iron ore. But Anglo American plans to start using iron ore derivatives later this year.
   
   Mr Phillip Killicoat, executive director at Goldman Sachs said that "SGX iron ore swaps were the best launch since aluminium, add Dalian iron ore futures in China to that mix and its clearly the most successful launch ever.
   
   Source : Reuters
   
2. voda 4 juni 2015 16:34

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   Iron ore trading in China climbs to record as price advances
   
   Published on Thu, 04 Jun 2015 43 times viewed
   
   Bloomberg reported that trading of iron ore derivatives on China’s Dalian Commodity Exchange climbed to a record last month as prices increased.
   
   According to bourse data, Volume jumped 33% in May from a month earlier to 24.86 million contracts, or 2.49 billion tonnes. The previous all-time high was set in April. Compared with a year earlier the volume more than tripled.
   
   Mr Chen Wei, head of industrial commodities said that”Iron ore prices advanced in May as port stockpiles in China contracted. The world’s biggest consumer of metals and energy is seeking to expand its role in setting benchmark raw material prices. A priority for the Dalian bourse this year is boosting the influence of its prices on global trade.”
   
   Mr Li Jinlu, an analyst at Yongan Futures Company in Shanghai said that “Sentiment toward iron ore improved recently and there’s speculation prices have bottomed. While some are still bearish on China’s economy and its demand, the divergence between these views caused greater volatility.”
   
   Source : Bloomberg
   
3. voda 4 juni 2015 16:35

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   BHP's Mr Andrew Mackenzie rails against iron ore output nonsense
   
   Mr Andrew Mackenzie CEO of BHP Billiton said that cutting or stalling new low cost, profitable iron ore supply in Australia would be a nonsense that would penalise customers and shareholders, and disrupt the power of open markets.
   
   Mr Mackenzie said that prices were returning to long run, more sustainable levels across a suite of commodities, including iron ore. What we've seen in iron ore in the last year, is no different from what we've seen across many commodities in recent years.
   
   Mr Ian Macfarlane industry minister of Australia agreed when people go out and wail, and nash their teeth about the price of iron ore they should remember that it was USD 28 per tonne when I was last minister. So Australia had to remain competitive.
   
   Mr Mackenzie said that "Unequivocally, it is unproductive for Australia to cut or stall low cost and profitable supply when the cycle drops. It destroys value, penalises shareholders, customers and employees, and disrupts the power of open markets. It is a nonsense."
   
   He said that it is these markets that induce investment during times of higher prices and reduce investment during times of lower prices, which is exactly what BHP has done in iron ore. But competition to feed demand remains intense and Australia must be ready.
   
   He added that "Most recently, we've witnessed China's deal with Brazil's iron ore company, Vale. The companies and nations that succeed will be those that are the most productive and can supply at the lowest cost. Australia must be ready and I think we are."
   
   Source : SMH
   
4. voda 4 juni 2015 16:37

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   Big iron ore miners' plan to displace everybody else losing steam
   
   Published on Thu, 04 Jun 2015 42 times viewed
   
   Reuters reported that how well is the plan by big iron ore miners to displace high-cost iron ore from the seaborne and Chinese domestic markets going? Maybe just OK, certainly not great.
   
   Much has been written about how the big three global iron ore miners will use their low cost, high output mines to muscle competitors out of the market, thus restoring the supply demand balance and ultimately justifying the billions of dollars they spent boosting capacity well in excess of demand.
   
   The problem for Brazil's Vale and the Anglo Australian pair of Rio Tinto and BHP Billiton is that the signs are this isn't working perhaps as well as they may have hoped. Certainly Chinese trade numbers show that Australia in particular has increased market share in iron ore imports but the momentum may be stalling.
   
   In the first four months of the year, Chinese imports of the steel making ingredient from Australia were 195.845 million tonnes, or 63.7% of the total 307.282 million tonnes. This is up from the 58.7 percent share of imports held by Australia for the whole of 2014 but it appears the pace of growth in market share is slowing.
   
   The news is worse for Brazil, which has actually been surrendering market share. In the first four months of 2014, imports from Brazil were 57.54 million tonnes, or 18.3% of the total. This is down from the 18.7% market share held in 2014, 18.9 in 2013 and 22% in 2012.
   
   While volumes have obviously increased as Chinese imports have grown from 745 million tonnes in 2012 to 932.7 million last year, it appears Vale has been struggling to keep up with its Australian competitors.
   
   It's possible to make the argument that Rio Tinto and BHP Billiton, along with world number four producer Fortescue Metals Group, have achieved what they said they would. Not only has Australia increased its share of Chinese iron ore imports, volumes have grown strongly as well.
   
   But the point is whether the success to date is petering out, and whether some of the iron ore the Australians need to displace to make way for the millions of tonnes of additional capacity still coming to the market is actually likely to leave.
   
   Source : Reuters
   
5. voda 4 juni 2015 16:38

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   BHP CEO warns of oversupply after flooding iron ore market
   
   Mr Andrew Mackenzie CEO of BHP Billiton has warned that a period of depressed prices in the commodities markets is likely to stay in place for years. As producers are adjusting to the new price reality, demand from leading commodities consumer China has slowed to normal levels as its economy undergoes structural changes.
   
   Mr Mackenzie said that "In many markets, recently installed low cost supply can now be stretched to meet growing demand. "So incremental supply, induced during periods of higher prices, will take longer to absorb and this means oversupply may persist for some time."
   
   The CEO of the world's largest mining company, however, failed to acknowledge BHP's own role in the oversupply of global markets, particularly in iron ore, where it plays a major role along with Brazil's Vale and Anglo Australian Rio Tinto.
   
   He said that "What we've seen in iron ore in the last year is no different from what we've seen across many commodities in recent years. Supply growth is the function of many countries and companies competing to meet global demand."
   
   The iron ore global surplus is expected to grow to 215 MT in 2018 from 45 MT this year, according to UBS estimates. It has already resulted in a number of mid tier producers calling it quits, among them Australia's Mount Gibson, Atlas and BC Iron.
   
   BHP has resisted calls to cut production and fought back against a parliamentary inquiry into Australia's export strategy, arguing it would send the wrong signal to international customers about the country's commitment to free trade.
   
   Mr Mackenzie said that "It is unproductive for Australia to cut or stall low cost and profitable supply when the cycle drops. It destroys value, penalizes shareholders, customers and employees and disrupts the power of open markets."
   
   Source : Business News Americas
   
6. voda 4 juni 2015 17:31

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   quote:

   voda schreef op 4 juni 2015 16:30:

   SDI, AK Steel, ArcelorMittal USA, CSI, Nucor and US Steel file case against 5 countries on corrosion resistant steel
   
   Steel Dynamics Inc, AK Steel Corporation, ArcelorMittal USA, California Steel Industries, Nucor Corporation and United States Steel Corporation have petitioned to the US Department of Commerce and the US International Trade Commission to apply antidumping and countervailing duties against imports of corrosion resistant steel from China, India, Italy, South Korea, and Taiwan.
   
   Source : Strategic Research Institute
   

   Nog het hele bericht:
   
   SDI, AK Steel, ArcelorMittal USA, CSI, Nucor and US Steel file case against 5 countries on corrosion resistant steel
   
   Steel Dynamics Inc, AK Steel Corporation, ArcelorMittal USA, California Steel Industries, Nucor Corporation and United States Steel Corporation have petitioned to the US Department of Commerce and the US International Trade Commission to apply antidumping and countervailing duties against imports of corrosion resistant steel from China, India, Italy, South Korea, and Taiwan.
   
   The petitions allege dumping margins as follows:
   China - 120.20%
   India - 71.09%
   Italy - 123.76%
   South Korea - 80.06%
   Taiwan - 84.40%
   
   The countervailing duty petitions allege numerous government subsidy programs in each of the five countries to be investigated by the DOC.
   
   Under the unfair trade statutes, the ITC must make a preliminary injury ruling within 45 days and the DOC will issue preliminary duty rulings by the end of 2015 with final rulings by both agencies completed by mid-2016.
   
   Imports of corrosion resistant sheet steel between 2012 and 2014 from the five subject countries increased 85%, from 1.5 million to 2.75 million tons. Further, imports increased by one third in the first quarter of 2015, from 600,000 to 800,000 tons, and based on licensing data have additionally increased in the second quarter. Over 15% of the US market was lost to these subject imports, more than doubling their share between 2012 and the first quarter 2015.
   
   Mr Mark Millett president & CEO of Steel Dynamics said "The surge of unfairly traded imports of corrosion resistant steel has materially impacted our shipments, pricing and profitability. Corrosion-resistant flat rolled steel is one of our more important products, and the restoration of fair trade will benefit our customers, our employees and our communities."
   
   Mr James L Wainscott chairman, president & CEO of AK Steel said "AK Steel and the domestic industry have been facing a tidal wave of what we believe are unfairly dumped and subsidized imports of corrosion-resistant steel coming into this country. These unfairly traded imports have seriously impacted pricing in the US market, which has resulted in a significant negative effect on our production, sales, and earnings."
   
   Anti-dumping duties are intended to offset the amount by which a product is sold at less than fair value, or "dumped," in the United States. The margin of dumping is calculated by the Commerce Department. Estimated duties in the amount of the dumping are collected from importers at the time of importation.
   
   Countervailing duties are intended to offset unfair subsidies that are provided by foreign governments and benefit the production of a particular good. The USITC, an independent agency, will determine whether the domestic industry is materially injured or threatened with material injury by reason of the unfairly traded imports.
   
   Corrosion-resistant steel is steel sheet that has been coated or plated with a corrosion or heat resistant metal to prevent corrosion and thereby extend the service life of the products made from the steel. Steel coated with zinc, aluminum, or any of several zinc aluminum alloys comprises most of the product at issue. Based on these unique product characteristics, corrosion resistant steel is widely used in infrastructure and construction applications such as roofing, siding, hardware, roof and bridge decks, guard rails, and culverts. Corrosion-resistant steel is also used in the manufacture of automobiles, trucks, appliances, industrial equipment, and agricultural equipment.
   
   
7. voda 4 juni 2015 19:08

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   Nog wat meer uitleg...
   
   Kepler Cheuvreux verhoogt koersdoel ArcelorMittal naar 12 EUR
   
   Detail advies
   
   PARIJS (Trivano.com) - Op 3 juni 2015 hebben de analisten van Kepler Cheuvreux hun beleggingsadvies voor ArcelorMittal (MT; ISIN: LU0323134006) herhaald. Het beleggingsadvies voor Arcelor Mittal blijft bij Kepler Cheuvreux gehandhaafd op "kopen". Het koersdoel wordt echter verhoogd van 11,00 EUR naar 12,00 EUR.
   
   Volgens de analisten zullen de Europese maatregelen om de dumping van koudgewalst roestvrij staal uit China en Rusland de staalsector in de tweede jaarhelft ondersteunen.
   
   Kepler Cheuvreux verwacht dat het Duitse Salzgitter en het Oostenrijkse Voestalpine het meest zullen profiteren van de Europese anti-dumpingmaatregelen.
   
8. voda 5 juni 2015 16:15

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   Minnesota State cuts taconite royalty rate for US Steel
   
   Associated Press reported that US Steel will temporarily pay less in taconite royalties to Minnesota for the ore it extracts from the Iron Range under action taken Wednesday by a board of top state leaders.
   
   The state's Executive Council, which is made up of the governor and four other statewide officials, unanimously granted the 15-month cost relief that could add up to $4.5 million. Retroactive to April, the relief will reduce payments the company must make to a school trust fund and a few other state accounts.
   
   Department of Natural Resources Commissioner Mr Tom Landwehr said the move cuts the fee that the dominant mining company pays on each ton of ore from about 91 cents to 75 cents in the current fiscal quarter, but that rate will be adjusted based on a variety of inflationary factors and could rise or fall. He backed the recommendation to help them get through tough times.
   
   US Steel executive Lawrence Sutherland told the board the break, combined with energy cost savings in a proposal pending before the Legislature, would help it absorb the effects of low steel prices and cutthroat foreign competition. He said "We're in a real battle in our business to maintain our domestic steel footprint as well our iron ore.”
   
   While it's not the first time Minnesota has offered a temporary break, Gov. Mark Dayton said he was uncomfortable with providing it due to sparse information about the company's financial position. But with hundreds of Minnesota steelworkers already on the sidelines, he said it was too big of a gamble to say no.
   
   Source : Associated Press
   
9. voda 5 juni 2015 16:16

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   Essar Steel Algoma looks distressed again – Report
   
   Published on Fri, 05 Jun 2015 70 times viewed
   
   Bloomberg reported that only eight months after Essar Steel Algoma Inc renegotiated its debt to survive a slump in steel prices, bond investors and lenders are starting to question whether the efforts were enough.
   
   Essar executed a debt exchange in November, eliminating $200 million in obligations and saving $47 million in annual interest payments. The new bonds and loans are trading at a discount as expectations for a rebound in steel prices fade. It’s $375 million loan due in 2019, which has top claim to get fully paid out in case of a bankruptcy, has fallen to about 91 cents on the dollar from 102 cents when it was issued as part of the debt swap.
   
   Mr Barry Kupferberg director of research at Trilogy Capital Management said “It’s not normal to see restructured debt trade at distressed levels so quickly following a restructuring. The idea of a restructuring is to set up a capital structure that can withstand a wide variety of pricing scenarios. And this would suggest the company has a vulnerable capital structure. This opens the possibility of another restructuring and his firm, which owned Algoma’s debt before and was paid out by the last restructuring, is considering buying the new debt too, now it’s fallen to discounted levels.”
   
   Algoma, which has been in and out of bankruptcy twice before the latest restructuring, lost money in 11 consecutive quarters, before posting a profit of C$52.9 million ($42.6 million) in the three months ended Sept. 30. The company declined to comment on speculation it will need more liquidity, citing forthcoming quarterly results, which will be released before month end.
   
   Source : Bloomberg
   
10. voda 5 juni 2015 16:17

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    SAIL chairman confident on journey in 2015-16
    
    Business Standard reported that as consumption of total finished steel grew 7.1 per cent to 5.503 million tonnes as compared with April 2014 but registered a decline of 23.2 per cent over 7.153 million tonnes in March 2015, SAIL chairman Mr CS Verma is positive on demand prospects in 2015-16
    
    Exuding confidence on SAIL's journey in 2015-16, Verma said: "There are several projects that are in the pipeline like smart cities, affordable housing as well as other supporting infrastructure requirements, which will help us to increase both our top and bottom line."
    
    Defending the firm's performance, Mr Verma said SAIL's profit and sales margins are better when compared to the results for the last quarter. He said “At a time when market conditions have been challenging, not just in India but globally, we have maintained our output and braved headwinds like cheap imports, slack demand, among others to give a sector leading performance.”
    
    SAIL had reported 26 per cent fall in net profit to INR 334 crore for the fourth quarter of 2014-15 from INR 453 crore a year ago. Its total income declined 13 per cent to INR 11,684 crore in the January-March quarter of the last financial year from INR 13,684 crore in the same quarter of 2013-14.
    
    Source : Business Standard
    
11. voda 5 juni 2015 16:18

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    JSW Steel in No 1 position in 2014-15
    
    Published on Fri, 05 Jun 2015 118 times viewed
    
    Business Standard reported that JSW Steel is now the largest steel maker in the country ahead of long time market leader Steel Authority of India after overtaking Tata Steel to become the number two in the industry last year.
    
    Net Sales in 2014-15
    JSW Steel - INR 52,971 crore
    SAIL - INR 45,710 crore
    TATA Steel India - INR 33,666 crore
    
    Including its global operations, however, Tata Steel remains the largest with revenues of INR 139,503 crore.
    
    Capacities as on March 31st 2015
    SAIL - 19.5 million tonne
    JSW – 14.3 million tonnes
    TATA Steel India - 10 million tonne
    
    JSW Steel is unlikely to sustain its position at the top as the largest steel maker in the domestic market. Tata Steel is close to commissioning its 3 million tonne green field unit in Orissa while SAIL is raising its capacity to 23 million tonnes.
    
    Source : Business Standard
    
12. voda 5 juni 2015 16:19

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    NMDC rolls over iron ore prices for June as sales hit in April-May
    
    Indian iron ore mining giant NMDC has decided to keep prices unchanged this month as offtake from the steel sector has been subdued in the past couple of months.. The previous revision was on April 18, when the company had reduced ore prices by six per cent to INR 3,050 a tonne for lumps from INR 3,250, and by 20 per cent for fines to INR 1,960 from INR 2,460 a tonne in the month of March.
    
    Source : Strategic Research Institute
    
13. voda 5 juni 2015 16:22

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    Russia's Evraz temporarily halts production at US plant
    
    Published on Fri, 05 Jun 2015 130 times viewed
    
    Reuters reported that Russian steelmaker Evraz had temporarily halted work at its North American Pueblo production plant due to weaker demand.
    
    A company spokesman said that we have temporarily curtailed steelmaking production at our Pueblo facility for one week to align production with decreased demand. Around 100 employees will be temporarily laid off until the plant reopens.
    
    Evraz and other steelmakers which produce metal pipes for the oil and gas industry have been hit by a 40% drop in oil prices since June last year.
    
    Source : Reuters
    
14. voda 5 juni 2015 16:23

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    Iron ore derivatives trade gathers pace
    
    Published on Fri, 05 Jun 2015 64 times viewed
    
    Reuters reported that the derivatives market for iron ore is reaching a tipping point in its strong growth as steel consumers pile in, with contracts traded outside China expected to reach around a billion tonnes this year. Iron ore derivatives traded on the Singapore Exchange (SGX) have roughly doubled in volume each year since their launch in 2009, reaching around 550 million tonnes last year and forming an attractive revenue base for banks and brokers.
    
    Mark Lyons, Citibank’s global head of iron ore and steel trading, told Reuters at the Metal Bulletin iron ore conference in Vienna “This year we’re on for a billion tonnes. We are now at the turning point for iron ore hedging, by that I mean consumers of steel in particular are learning to hedge. Mills and consumers need to have a sensible hedge policy without it they can’t manage margins. (Also) those who do trade them will have an advantage over those that don’t.”
    
    Mr Fidel Blanco, senior managing director of iron ore sales at top iron ore miner Vale told delegates at the conference his company still has no plans to hedge iron ore.
    
    Mr Phillip Killicoat, executive director at Goldman Sachs, told delegates at the conference “SGX iron ore swaps were the best launch since aluminium, add Dalian iron ore futures in China to that mix and its clearly the most successful launch ever.”
    
    Iron ore derivatives volumes have yet to match the roughly 1.3 billion tonnes of physical seaborne iron ore traded globally each year, as the market still lacks the participation of global iron ore producers and steelmakers. The popularity of iron ore derivatives coincided with an explosion in spot market volumes around six years ago, when the market moved from annual benchmark pricing to shorter-term contracts based on daily indices. That raised price volatility and the need by industry participants to better manage risk. It also tempted institutional investors into the market once volumes started to pick up.
    
    Source : Reuters
    
    
15. voda 5 juni 2015 16:24

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    Port Hedland iron ore exports to China rise 5.2 pct in May
    
    Published on Fri, 05 Jun 2015 69 times viewed
    
    Reuters reported that Australia's iron ore exports to China from Port Hedland rose 5.2 percent in May from a month earlier, while total shipments from the port hit a record high
    
    Exports of the steelmaking commodity to Australia's biggest trading partner climbed to 31.69 million tonnes last month from 30.1 million tonnes in April, according to the Pilbara Ports Authority, which operates the world's biggest export terminal for iron ore.
    
    Total shipments of iron ore from Port Hedland hit an all time peak of 38 million tonnes in May, up 7.3 percent on the previous month. Shipments to Japan jumped 67 percent in the month to 2.15 million tonnes.
    
    Port Hedland, which handles about a fifth of the world's seaborne iron ore trade, is used by BHP Billiton and Fortescue Metals Group to ship around 35 million tonnes a month, the lion's share to Chinese steel mills.
    
    Source : Reuters
    

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16. voda 5 juni 2015 16:26

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    World’s top 40 mines drop USD 156 billion in value - PwC
    
    Published on Fri, 05 Jun 2015 82 times viewed
    
    It’s well documented that mining companies the world over are struggling to adapt to a climate of depressed commodity prices and sluggish output. But some of the findings in PwC’s latest global mining industry report, Mine 2015, really hit home. Looking collectively at the top 40 mining companies, according to market capitalisation, the report found that market value plummeted 16% by $156 billion in 2014. As a result, the top 40 market capitalisation, now at $791 billion, was at the same level as it was ten years ago.
    
    Mr Michal Kotze PwC’s head of mining for Africa said “Everyone expected that 2014 would be very tough year when we did the analysis, because of what happened to commodity prices last year. Confidence was also low, with HSBC Global Mining Index hitting a five-year low in April 2015, at levels not seen since the last global financial crisis. What is clear is that investors are ringing the changes. They are moving out of investments in the mining indices, which are being consistently outperformed by other indices.”
    
    Dividend yield was at an all-time high at 5%, but only because companies were trying to maintain paying dividends at a time when their earnings were shrinking.
    
    Net profit excluding impairments fell by 9%, while the return on capital employed (ROCE) fell to 8.4%, the lowest level in the report’s 12-year history. Having been at 9.5% in 2013, this sees the average ROCE continue below the minimum hurdle investment rate of 15-20%. Only six of the top 40 – Coal India (coal), Norilsk Nickel (nickel), NMDC (iron ore), Randgold (gold), Shandong Gold (gold), and Newcrest (gold) – exceeded this benchmark.
    
    Source : Mine Web
    

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17. voda 5 juni 2015 16:28

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    More pain in store for iron ore companies
    
    
    Colleen Goko wrote for BD Live that the outlook seems grim for iron ore companies going into the rest of the year and into the next, with average profit margins expected to drop to about 20% by September 2016 as prices fall further.
    
    The iron ore price had jumped 33% to $62 a tonne by May 28 from its low of $47 a tonne on April 2 as Chinese steel producers found certain iron ore grades at ports in short supply. News was rife of medium-sized miners cutting or closing output. The price surge, however, is expected to be short-lived as global supply continues to exceed slow demand growth.
    
    Afriforesight commodity and cost economist Eduan Hauman said "The price decline should slow in 2016, as the gap between global supply and demand narrows due to a significant amount of production having to be halted due to the unprofitable price. Higher shipping costs and our perception that China would not like to see major future suppliers destroyed should prevent a total collapse in prices.”
    
    Source : BD Live
18. voda 5 juni 2015 16:29

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    Vale to expand iron ore output with eye on China
    
    
    Brazilian mining giant Vale SA said that it will expand its iron ore production capacity to 450 million tonnes from the present 340 million tonnes in two years.
    
    According to industry sources, the move will help the company gain a bigger market share but it could also lead to an industry reshuffle and shakeout.
    
    Mr Murilo Ferreira president and CEO of Vale said that “The company will raise its annual capacity by 30 percent in the next two years, especially to provide China with more high-quality iron ore products. Though weak iron ore demand and low prices have hit the company in recent years, it does not plan to cut iron ore capacity. Instead, it will adjust output according to the market changes.”
    
    Mr Ferreira said that “The Chinese government has come out with strict environmental protection laws, which require steel mills to reduce emissions. Vale is happy to provide iron ore products with high iron content and low impurity, thereby helping the Chinese government fight pollution.”
    
    Mr Ferreira, as the head of the world’s biggest iron ore producer, pays around four visits every year to China, and maintains good ties with Chinese iron ore buyers and equipment suppliers. So do the heads of the other two Australian mining giants Rio Tinto Plc and BHP Billiton Ltd.
    
    Source : ECNS
19. voda 5 juni 2015 16:31

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    • voda

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    NMDC rolls over existing prices as iron ore sales decline
    
    
    Business Standard reported that Central government owned iron ore miner NMDC has decided to keep prices unchanged this month.
    
    Offtake from the steel sector has been subdued in the past couple of months. The previous revision was on April 18, when the company had reduced ore prices by six per cent to INR 3,050 a tonne for lumps from INR 3,250 and by 20% for fines to INR 1,960 from INR 2,460 per tonne in the month of March. The prices will possibly be reviewed next month.
    
    Production and sales fell for the first two months of the financial year, April and May, by 15% and 20% respectively. Output and sales growth in 2014-15 were flat, compared to the previous year's 30.4 million tonnes and INR 12,356 crore, respectively. The decline in April to May comes as NMDC gears up to raise production by five to eight mt this year.
    
    An NMDC official said that though steel prices are firming up a little these days, manufacturers continue to face inventory issues. Due to this, ore offtake was relatively low.
    
    Source : Business Standard
    
20. voda 5 juni 2015 16:33

    auteur info

    • voda

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    Af en toe een bedankje, of een ABtje kan geen kwaad hoor! :-)
    
    Zit zelf niet meer in staal aandelen, maar blijf mijn beste beentje voor zetten.