Industry watchers feel that demand for steel has improved recently and this enabled steel makers to raise price of their products. It is learnt that there has been a five to seven per cent price hike in both flat and long steel products on a year-on-year basis. Rashtriya Ispat Nigam (RINL) increased rates by Rs 500 per tonne this month when it followed most of the
Tag: demand
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Oil India appoints consultant for 2.5 mn t LNG project
According to company sources, Oil India (OIL) has appointed a consultant to prepare report on its proposed
2.5-million tonne (mn t) liquefied natural gas (LNG) receiving terminal in the country. Geneva-based Foster Wheeler AG is said to be the firm that bagged the consultancy contract for the project, which marks OIL's foray into imported gas. With the proposed LNG terminal, the company will join
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Govt to encourage exploration of alternative energy sources
Government attempts to bridge the ever-increasing demand-supply gap of petroleum products by encouraging exploration of alternative sources of energy such as coal-bed methane, shale gas, gas hydrates, ethanol and biodiesel. This information was given by the Union Minister of State for Petroleum and Natural Gas Panabaka Lakshmi during the
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Steel demand may grow 5.5% in 2012
According to a recent study by World Steel Association (WSA), IndiaÂ’s steel demand growth may decline to 5.5 per cent in 2012 and five per cent in 2013 owing to unfavourable domestic and economic conditions. Earlier, the association projected 7.9 per cent growth in demand for 2012. The study also shows that growth in crude steel prod
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Steel demand may grow 5.5% in 2012
According to a recent study by World Steel Association (WSA), IndiaÂ’s steel demand growth may decline to 5.5 per cent in 2012 and five per cent in 2013 owing to unfavourable domestic and economic conditions. Earlier, the association projected 7.9 per cent growth in demand for 2012. The study also shows that growth in crude steel prod
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Steel price may move upward
Steel companies in India expect steel prices to rise in local market in line with global market because of spike in raw material cost. It may be mentioned that Indian steel prices are aligned to international prices. According to CS Verma, Chairman of Steel Authority of India (SAIL), benchmark global prices of hot rolled coils (HRC) have risen $10 per tonne in the last one month.
Raw material prices are also climbing. From recent lows, iron
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Steel price may move upward
Steel companies in India expect steel prices to rise in local market in line with global market because of spike in raw material cost. It may be mentioned that Indian steel prices are aligned to international prices. According to CS Verma, Chairman of Steel Authority of India (SAIL), benchmark global prices of hot rolled coils (HRC) have risen $10 per tonne in the last one month.
Raw material prices are also climbing. From recent lows, iron
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Road construction sector on the path of recovery
Industry players feel that the road construction sector is on the path to recovery with the government announcing new norms for road development. It is learnt that the improvement in the project award and execution has caused a sudden surge in demand for construction machinery, building material machines, mining machines and construction
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Minister calls for innovation among steel firms
In order to cater to the varied demands of market and also to raise sales, Union Steel Minister Beni Prasad Verma asked steel companies to innovate and manufacture products that can be used in households. The minister said this after inaugurating the steel pavilion at the India International Trade Fare (IITF) 2012. This year’s theme for the pavilion was ‘Skilling India’ which depic
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Roskill sees ore prices above $120 till 2014
London based metals and minerals research house Roskill Information Services expects prices to remain above $120 per tonne for 63.5 percent Fe content India