77 Chinese steel makers profit CNY 8 billion in July

According to China Iron and Steel Industry Association, some 77 major steel makers across mainland China earned a total profit of CNY 8.59 billion in July drop of 35.45%MoM. Profits of the 77 in the first seven months totalled CNY 65.21 billion.

Steel Guru | September 6, 2011 | 1:52 pm

Macroeconomic indicators – China PMI rebounds in August

According to the China Federation of Logistics and Purchasing, growth in China manufacturing sector rebounded in August after recording slower growth for four consecutive months with the Purchasing Managers' Index up 0.2 percentage point from July to

Steel Guru | September 6, 2011 | 1:52 pm

Panzhihua Steel Baima Mine posts record iron ore concentrate output in August

It is reported that In August, Sichuan Province based Chinese steel producer Panzhihua Steel Baima Mine produced a record high iron ore concentrate output of 229,370 tonnes. During the first nine days of August, the mine produced 68,450 tonnes of iron

Steel Guru | September 6, 2011 | 1:52 pm

Peabody declares force majeure on North Goonyella coking coal mine

Peabody Energy Corp cut its third quarter and full year earnings outlook because of a roof fall at one of its Australian mines where production will be halted for four to six weeks.

Steel Guru | September 4, 2011 | 11:43 am

Nickel stockpile orders increase to highest level since April

Bloomberg reported that orders to draw nickel from stockpiles monitored by the London Metal Exchange rose to the highest level since April 2011 on gains in Singapore and Rotterdam.

Steel Guru | September 1, 2011 | 11:23 pm

NUM plans to begin strike at Nkomati Nickel on September 5

Reuters reported that the National Union of Mineworkers plans to begin a strike at African Rainbow Minerals' Nkomati Nickel mine on September 5th 2011. The trade union is striking over wages.

Steel Guru | September 1, 2011 | 11:23 pm

SAIL expansion plan on right track – Mr CS Verma chairman

TNN reported that Steel Authority of India Limited chairman Mr CS Verma said that they are moving ahead with their expansion and modernization plans in the country for which the company would invest INR 72,000 crore. He said “The company has the

Steel Guru | August 29, 2011 | 11:59 am

Coal shortage to affect 15000 MW new capacity additions – Panel

At a time when India is embarking on ambitious power generation programs, the shortage of coal is expected to impact new capacity addition plans to the tune of 15,000 MW in the current fiscal. A parliamentary panel has said that coal availability for

Steel Guru | August 29, 2011 | 11:59 am

Indian iron ore mining mess – Bangalore Chamber raises job losses flag

DHNS reported that the India’s Supreme Court’s directive to suspend all mining activities of iron ore in the districts of Chitradurga and Tumkur in the Karnataka has multiple implications on the economy and the steel business at large. Mentioning

Steel Guru | August 29, 2011 | 11:59 am

Indian steel pipe and tube industry has immense potential – Mr Misra

It is reported that Mr PK Misra secretary with the India’s ministry of steel said that the Indian steel industry would pick up in the coming months and reach its targeted 10% by the end of the financial year. Mr Misra at the Steel Tube Summit,

Steel Guru | August 29, 2011 | 11:59 am

Yalian Steel announces Q3 financial and operational results

Yalian Steel Corporation announced its financial and operating results for the three and nine months ended June 30, 2011. The Company or Yalian refers to Yalian Steel Corporation and its subsidiary, Yangzhou Yalian Steel Pipe Co Ltd which operates

Steel Guru | August 29, 2011 | 11:59 am

Slowdown signs – COSCO reports H1 loss of CNY 271 billion

China COSCO (Ocean Shipping Group Co) Holdings Company, the country's top shipping conglomerate, on Friday reported a loss of CNY 271 billion (USD 432 million) for the first half of 2011, registering a massive decline of 176.8% YoY. Image is from geograph.org.uk

Steel Guru | August 29, 2011 | 11:59 am

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