July 2010

Indian HBI gains in domestic market on iron ore supply shortages

Indian hot briquetted iron producers increased their prices by as much as Rs1,000 ($21) per tonne this week as production fell thanks to iron ore shortages.

Shadeed Steel to start 1.5 mtpy DRI plant by Jun 2011

Shadeed Iron and Steel Co (Sisco), a unit of Jindal Steel and Power (JSP), will commission its 1.5 million tpy gas-based direct reduced iron (DRI) plant in Oman by June quarter next year.

Weak demand, low prices hit Italian pig iron imports

Demand for imported pig iron to Italy remains sluggish as the country’s steelmakers prepare for the slow summer period

Pig iron demand still sluggish

Demand for pig iron will remain sluggish until the end of next month but may pick up again at the end of August, market participants told MB.

(AMM) Nucor expanding Trinidad DRI plant

With plans for a multibillion-dollar investment in a pig iron production facility on hold as it awaits the outcome of pending climate legislation, Nucor Corp. is moving forward with an expansion of direct-reduced iron (DRI) capacity in Trinidad and Tobago.

Indian HBI units incur losses as prices remain low

Indian hot briquetted iron producers said they are incurring losses of nearly Rs1,000 ($21) per tonne at current prices

(AMM) Nucor mulling options for iron supply project

Nucor Corp., Charlotte, N.C., has looked further south -- to Louisiana and Brazil -- as potential sites for a $2 billion pig iron project.

***THE STOCKHOLM SELECTION: The Manifesto

Steelmaking is big business. Last year the World Steel Association (worldsteel) recorded total crude steel output at 1.2 billion tonnes. This was down slightly from 1.3 billion tonnes in 2008. That makes the steel sector one of the largest in the world in terms of tonnage. In value terms, that production makes it a leader as well. Steel is a leading contributor to world GDP. It is an ingredient in almost every part of the modern built environment. And it is usually one of the key materials used in the development of an emerging economy. Unfortunately, making steel hasn’t always been a very profitable affair.

Venezuelan producers start offering HBI for immediate shipment as buying interest dries up

Venezuelan hot briquetted iron (HBI) producers have been offering cargoes for “immediate shipment”, but buyers have not closed any deals so far on lack of interest, trading sources told MB

CIS producers cut output as pig iron costs exceed market prices

CIS pig iron producers have begun reducing output as their costs exceed market prices, market participants told MB.