August 2010

Indian DRI prices up on supply shortage

Indian local directly reduced iron (DRI) prices have increased by at least Rs 500 ($11) per tone to Rs 16500 to Rs 17000 per tonne ex-plant compared to Rs 16000-Rs 16200 per tonne towards end of last week

Venezuelan HBI offer prices up by $20-30 per tonne

Venezuelan hot briquetted iron (HBI) producers are offering export material at around $280-290 per tonne fob, up $20-30 per tonne since the start of this month, sources told MB

Ezz Steel sees 43% rise in H1 Ebitda, growth in demand and prices expected in H2

Egypt’s Ezz Steel reported a 43% increase in Ebitda to E£1.2 billion ($211 million) for the first six months of 2010, up from E£845 million in the corresponding period in 2009

Indian govt may take action against Vedanta, rejects bauxite mining plan

The Indian government is considering penal action against Vedanta Resources for illegal mining and flouting forest conservation legislation, minister for environment and forests Jairam Ramesh said

New plant construction on target at Iran's Arfa

Building work at Arfa Iron & Steel's two new plants, which will add 1.6 million tpy capacity, is progressing and is on schedule for completion, md Ahmad Keyvanara said.

(AMM) Brazil pig iron deal to US up $15/T, seen too pricey [UPDATE]

South American pig iron producers might be pricing themselves out of the market, one U.S. trader said in response to reports that producers from Brazil's northern region of Carajas secured a $15-per-tonne increase this past week in an export deal to the United States.

Brazilian pig iron producers get further $15 lift in latest export deal

Merchant pig iron producers from Brazil’s northern region of Carajás closed an export deal for the USA at around $450 per tonne cfr, a $15 per tonne increase from the latest transaction two weeks ago

CIS producers hike pig iron prices, EU traders start to build positions

Pig iron producers steeply increased their offers this week on expectations that more buyers would return to the market after the summer lull and Ramadan, they told MB.

Indian DRI prices rise in seasonal monsoon

Direct reduced iron (DRI) prices in India have increased to Rs 16,300-16,500 ($348-352) per tonne ex-plant due to tight supply of iron ore.

Vale offers Brazilian pig iron producers conditional discount on iron ore

Vale has told Brazilian merchant pig iron producers it will sell them iron ore at a discounted price in August and September, but only if their export prices stay below a specified level, several of the producers told MB.