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
Tag: price
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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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NMDC allegedly produces less than allowed output
Steel and sponge iron makers of Karnataka alleged that NMDC was not producing iron ore at the permitted levels of 12 million tonne per annum and it was operating at less than half the threshold. Sponge iron and steel companies are facing severe shortage of iron ore because of ban on iron ore mining in Karnataka. These companies largely stayed away from the two recen
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NMDC allegedly produces less than allowed output
Steel and sponge iron makers of Karnataka alleged that NMDC was not producing iron ore at the permitted levels of 12 million tonne per annum and it was operating at less than half the threshold. Sponge iron and steel companies are facing severe shortage of iron ore because of ban on iron ore mining in Karnataka. These companies largely stayed away from the two recen
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Iron ore issue hits steel firms
Steel makers in the country are complaining about lack of sufficient supply of iron ore, the key raw material for steel production, and also the increase in price by NMDC. Media reports suggest that steel firms are reducing their scale of operation and hence their capacity utilisation has declined because of shortage of iron ore. These firms
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Fall in refining margins may hurt oil firms
Many brokerages feel that the margins of Indian refiners may come under pressure because of a decline in the Singapore benchmark refining margin.If the margins remain at the current level in the remaining part of this quarter, margins of companies like Reliance Industries (RIL), Essar Oil and public sector firms like Bharat Petroleum (BPCL), Hindustan Petro
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Indian basket crude oil declines marginally
According to data released by Petroleum Planning and Analysis Cell (PPAC), the international crude oil price for Indian Basket fell to 107.54 $ per barrel (bbl) on November 16, 2012. This is $00.37 a bbl lower compared to $107.91 a bbl the previous trading session. In rupee terms also, crude oil price fell to Rs 5,913.62 a bbl on November 16, 2012 as com
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Rupee exchange rate holds key for petrol pricing
According to analysts, the movement of rupee against the dollar holds key for the future price movement of petrol in the domestic market. Recently, the price of petrol was reduced by oil marketing companies (OMCs) for the second time since 9 October 2012 because of the decline in crude oil prices in the international market
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KPMG to work on pricing plan for NMDC
Consulting firm KPMG would work on the pricing mechanism for iron ore supplied by NMDC to steel companies in the country. The country's largest iron-ore producer has hired KPMG to devise a pricing mechanism following complaints by steel companies that NMDC is overcharging them. Media reports suggest that the new pricing mechanism may be implemented
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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