International crude oil price rose marginally in recent trading sessions on the back of positive economic data from the US and the Europe. Recent data from the US shows rebound in its serv
Tag: demand
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NMDC decides not to hike iron ore price for Feb
Anticipating decline in demand, National Mineral Development Corp (NMDC) decided not to raise price of iron ore and maintain it at Rs 5,060 ($95.01) per tonne for lumps, and Rs 2,610 per tonne for fines for February. It may be recalled that the country's biggest iron ore producer reduced prices by up to 6 per cent last month. It is lea
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NMDC board to review iron ore price
Soon the board of NMDC would meet to review the price of iron ore it sells in the domestic market in line with the policy of the company to revise it every month. Media reports suggest that the state-run miner could raise the price between Rs 200 and Rs 400 a tonne. The board would take into consideration factors such as dema
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Bhushan Steel to review product prices
Nitin Johari, Director of Bhushan Steel informed reporters that the marketing team of his firm would meet soon to review price of its steel products. According to media reports, other steel firms may also revise the price of their steel products, especially long products, sold in the domestic market. Prices of some are likely
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Brokerages expect iron ore price to fall
In its recent report, Bank of America Corp said it expects the global price of iron ore to decline to $110 a tonne by the end of 2013 from $140 a tonne in the first quarter because of supply glut in the market. Bank of America feels that the recent price rally is not sustainable and the price should come off in the second half of the year as more supply begins to come on li
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OMCs sell 2.8% more fuel products in December 2012
Data from the Petroleum Planning and Analysis Cell of the oil ministry shows sale of fuel products grew 2.8 per cent to 13.41 million tonne in December from the year ago month. Of this, sale of diesel constituted 6.13 million tonne, which is 4.4 per cent higher than December 2011. Diesel consumption makes up over 40 per cent of local fuel sales. Sale of diesel in December improved over Nove
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SAIL chief calls for focus on rural market
CS Verma, Chairman of SAIL remarked that there is tremendous scope for sale of steel in rural India given that per capita consumption of the alloy is at a level of only 15 kg in rural areas. Verma said this while reviewing the performance of the eastern region sales force of the company's Central Marketing Organisation (CMO) recently
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Analysts feel price cut by NMDC may not benefit steel firms
Analysts feel that the recent cut in iron ore price by NMDC may not benefit steelmakers in a big way because the former reduced the price of only iron ore lump. The prices for the majority of product mix (iron ore fines contributing to 75 per cent of total output) remains unchanged at Rs 2,610 a tonne. Therefore, the reduction in iron ore lump prices by NMDC may not bene
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Weak pricing power may have hit profitability of steel firms
Weak pricing power and high cost of raw materials may have eroded the profitability of many steel makers in India, some brokerages feel. Despite high cost of raw material, domestic steelmakers are unable to raise prices because of subdued demand. Therefore, analysts expects steel firms to a
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Ore shipment doubles in December
In December 2012, 11 major Indian ports handled a total of 1.89 million tonne of iron ore export cargo compared to 907,000 tonne in November 2012. This is a over 100 per cent rise in export of the steel-making raw material in December compared to the previous month