November 2010

Minas Gerais pig iron exporters get $15 increase in latest deal

Merchant pig iron makers from Brazil’s southeastern state of Minas Gerais sold a 70,000-tonne cargo last week for $435 per tonne fob, up $15 per tonne from the previous transaction, local sources told MB

Brazilian pig iron prices rise in latest export deal

Brazilian pig iron prices have increased in the latest export transaction, according to market participants

Ukrainian pig iron prices rise $10 as traders take long positions

A major Ukrainian pig iron producer has secured sale prices $10 higher than two weeks ago, according to a market participant

***SPOTLIGHT: Venezuelan HBI output falls further on lack of pellet

Venezuela’s hot briquetted iron (HBI) producers are continuing to struggle with a shortage of domestic iron ore pellet

Metalloinvest mulls $1.85bn investment plans

Russian steelmaker Metalloinvest is considering investing 56.6 billion roubles ($1.85 billion) by 2014 to increase its iron ore production, the company said

Brazilian pig iron maker studying iron ore project with potential of 20m tpy

Brazilian pig iron group Ferro Gusa do Maranhão (Fergumar) is studying an iron ore deposit that could support a project capable of producing and exporting up to 20 million tpy of pellet feed, it said

Carajás pig iron export prices up $12 to USA

Merchant pig iron producers from Brazil’s northern region of Carajás have closed an export deal with a trading company at around $436 per tonne fob, up around $12 per tonne from the previous sale

Metalloinvest announces three-fold year-on-year Ebitda increase

Russian steelmaking group Metalloinvest has announced an almost three-fold year-on-year increase in earnings before interest taxes depreciation and amortisation (Ebitda) for the first half

Mayoko iron ore project could produce high grade DR feed, test work shows

Cape Lambert Resources has received metallurgical test work results from magnetite mineralisation at its 80% owned Mayoko iron ore project, located in the Republic of Congo, the company said.

Indian local DRI prices slip in Diwali lull

Indian domestic prices of direct reduced iron (DRI) have fallen by Rs 1,400 ($32) per tonne after a flat fortnight, as demand weakened due to the Diwali holiday.