December 2010

Minas Gerais pig iron hits $475-480 fob while Carajás refuses $500 bid

Pig iron makers from Brazil’s southeastern Minas Gerais state closed two export deals at $475-480 per tonne fob after several weeks out of the market, while companies from the northern region of Carajás have refused bids for as high as $500 per tonne fob, producers and trading sources told MB

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CIS pig iron export prices higher on strong demand

CIS pig iron exporters sold heavily in December with some producers selling all material for January delivery

ArcelorMittal’s Romanian plant to restart two BFs in 2011

ArcelorMittal Galati plans to restart its blast furnace 3 in the January, two weeks earlier than scheduled on improved market conditions, a company spokesman told MB.

***INTERVIEW: GIIC still plans to build pelletizing plants in Egypt and Oman

Bahrain’s Gulf Industrial Investment Co (GIIC) is still in discussions with the Egyptian government to acquire land to build a pelletizing plant, it said

GIIC still intends to acquire shares in Brazilian iron ore mines

Gulf Industrial Investment Co (GIIC) still intends to acquire shares in three Brazilian iron ore mines to secure its iron ore supply, it said

Lloyds Steel open to selling stake to help fund further recovery, Gupta says

Indian integrated steelmaker Lloyds Steel Industries would consider selling a stake in the business to a strategic partner to help the company achieve further growth.

Venezuelan HBI producers turn to imports for pellet feed

Venezuela has closed a deal to import some 30,000 tonnes of iron ore pellets from Canada as production of hot-briquetted iron (HBI) is set to increase and the country still faces a local shortage of pellets, sources told MB

***INTERVIEW: Jindal Shadeed set to start 1.5 million tpy HBI plant in Oman

Oman based Jindal Shadeed Iron & Steel is on track to start production at its 1.5 million tpy hot briquette iron (HBI) plant by the end of December to supply long product producers in the Middle East and North Africa.

Vale will start 9 million tpy pellet plant in Oman by Q1 '11

Vale has invested around $1.35 billion in a 9 million tpy iron ore pellet plant in Oman that will start production in the first quarter of 2011