Apr 10

ArcelorMittal continues steel price rally, hikes coil offers by Eur20/mt

Major steelmaker ArcelorMittal has increased its coils offers by Eur20/mt, raising hot-rolled coil offers to Eur920/mt and cold-rolled and hot-dipped galvanized offers to Eur1,070/mt across Europe, sources told S&P Global Platts April 7. The increase follows a series of price hikes over recent weeks and bullish sentiment across the European market. Platts daily assessment for HRC EXW Ruhr has increased Eur215/mt since the beginning of the year to an all-time high of Eur880/mt on April
Posted in Uncategorized
Apr 10

BAMIN wins bid to operate FIOL railway, a boost to ERGs iron ore …

Eurasian Resources Group (ERG or the Group), a leading diversified natural resources producer, and its wholly-owned Brazilian subsidiary BAMIN, today announced that BAMIN has won the auction on the Bovespa (So Paulo Stock Exchange) to complete and operate the first 537 km stretch (FIOL Stage 1) of the FIOL (East-West Integration) railway. FIOL will provide a high capacity and low cost link between ERGs Pedra de Ferro mine in Caetite and its Porto Sul port in Ilhus, Bahia state. The
Posted in Uncategorized
Apr 09

JSW Steel achieves crude steel production of 4.19 MT in Q4 FY21

JSW Steel achieved crude steel production of 4.19 million tons in 4Q FY21, registering a growth of 2% QoQ and 6% YoY. The companys average capacity utilisation improved from 91% of 3Q FY21 to 93% for 4Q FY21. However, the capacity utilisation during the month of March 2021 was 96%. For FY2021, the company achieved crude steel production of 15.08 million tons compared to 16.06 million tons in FY2020, recording a decline of 6%. Even though the average capacity utilisation improved from 66% in
Posted in Uncategorized
Apr 09

Steel prices expected to marginally move up from current levels

The steel stocks have been rallying for the past few months. Many thought that the rally was done and the steel prices would not rise as they had risen over the past few months, but prices have moved up even more. Vikash Singh, VP-Metals and Mining at Philip Capital said, If we look at the Indian steel prices, they are still at a fair discount to the imported prices. So, the prices should either stay consistent at this level or there is a slight possibility of prices going up marginally
Posted in Uncategorized
Apr 01

Wide scrap/finished steel spread propelling mini-mills to record …

The price spread between hot-rolled coil and No. 1 busheling prices in the US remains at the highest level on record, driving mill profitability through the first three months of 2021. The S&P Global Platts TSI HRC weekly average price is currently $825/st above the Platts No. 1 Busheling assessment, surpassing the previous record spread of $640/st in November 2008, and well above the most recent high of $555/st at the end of June 2018. The spread in 2008 was a result of scrap prices
Posted in Uncategorized
Mar 30

Strong industrial activity, profit lift China steel futures

Chinese steel futures advanced on Monday, with rebar and hot-rolled coil both closing at record highs, as attractive industrial profit margins and rising demand amid strong construction and manufacturing activity lifted prices. Chinas industrial profit surged 179% in the first two months from the year-ago period, data from the National Bureau of Statistics showed on Saturday. Margins in the manufacturing sector jumped 219.5% on an annual basis, while profit earned by ferrous smelting and
Posted in Uncategorized
Mar 27

JSW transfers Rs 19,350 cr to complete acquisition of Bhushan Power …

JSW Steel was chosen the winning bidder for BPSLs assets in September 2019, and the resolution plan was approved by NCLT soon after. The company offered to pay Rs 19,350 crore to the financial creditors, with the lenders taking a nearly 60% haircut. Apart from this, JSW had offered to pay Rs 350 crore to operational creditors, against their admitted claims of Rs 700
Posted in Uncategorized