India’s ministry of mines has proposed to terminate the iron ore leases of those working mines that have not started production even after 7-8 months of auction. Those mines which have not maintained minimum dispatch for three consecutive quarters are also sought to be terminated from the lease. The mines ministry proposed to do so […]
Iron ore is the most heavily-traded dry cargo globally. India participates both as an exporter and importer. It is only expected that prices in the world market will have its impact in India as well. The fluctuations in iron ore prices In this decade alone have been astounding. Iron ore prices peaked at $187 a […]
The Cabinet is likely to consider and approve the mining sector reform proposals, announced in May last year by finance minister Nirmala Sitharaman as part of the Atmanirbhar package. Sitharaman had announced a series of reform proposals for the mining sector. The reforms proposed to offer a comprehensive license as opposed to separate licenses for […]
The northward movement of the steel prices continues unabated, with the rate touching an all-time high of Rs 58,000 per tonne (ex-Mumbai) for benchmark hot-rolled coil (HRC) product. This is amid constrained supply and pick-up in demand from construction, automotive and white goods sectors. According to SteelMint, as on January 1, 2021, the price of […]
Metal stocks on the Indian bourses are continuing their bull run, with steel companies announcing another round of price hike of Rs 1,500 a tonne for hot-rolled coil in January. Similarly, TMT rebar prices were hiked by Rs 2,400 a tonne as the demand from infrastructure and real estate projects is looking up. The industry […]
Reacting to the steel industry’s demand for a ban on iron ore exports, miners have written to the Prime Minister’s Office (PMO), calling for withdrawal of import and other duties meant for shielding the domestic steel industry which, they believe, has indulged in ‘profiteering’ taking undue advantage of the current market situation. Last week, steel […]
Sudden drops in temperature have hit most regions of China but the cold’s impact on steel demand has varied by region, market sources say of the chill. Raw materials transportation has been disrupted too though the effect so far has been limited, they said.Steel demand in East and Central China has fallen off markedly since […]
The total volume of iron ore dispatched to global destinations from Australia and Brazil was 29.7 million tonnes in December, the highest since June 2019, according to a survey from Mysteel. Iron ore shipments from ten Australian ports bound for global destinations hit 21.7 million tonnes, and the tonnage shipped from Brazil’s nine ports to reach […]
The forging industry has urged the government to ban steel and iron ore exports, as domestic steel prices shot up 25-30 per cent in the last three months due to increased exports and squeezed supply in the local market. Forging steel manufacturers have hiked prices by 10 per cent over the last six months and […]
Iron ore prices are soaring. Prices have reached approximately $160 per tonne by the middle of December. This level was last recorded in early 2013. Demand growth, particularly in China, is driving the increase in the cost of the raw material. The dispute between the authorities in China and Australia is curtailing trade of various […]
