September 2011

CIS pig iron export prices drop below $500 per tonne

Export prices for CIS-origin pig iron into Europe have dropped below $500 per tonne fob for the first time in 2011, traders and brokers told MB this week

Temirtau to restart BF No.2 in November with higher pig iron capacity

ArcelorMittal Temirtau is to restart one of its blast furnaces later this year, following a level II repair programme that will see its pig iron capacity rise by 25%, sources at the Kazakh steelmaker told MB.

Tata Metaliks sells pig iron plant to Fomento for $37m

Tata Metaliks, a subsidiary of Tata Steel, has sold a 300,000 tpy pig iron producer at Redi in the Western Indian state of Maharashtra to Fomento Resources Group from Goa for Rs1.80 billion

CURRENCIES: Real depreciation positive for Brazilian merchant pig iron makers

The devaluation of Brazil’s Real against the US dollar could lead to higher export margins for the country’s merchant pig iron makers, market participants told MB

Taigang's October nickel pig iron bidding remains high

Taigang Stainless has set its bidding price for high-grade nickel pig iron at a much higher level above China’s spot refined nickel prices for October, though the value of this price has been discounted because of the payment method

Indian local DRI prices up by $40 in two weeks on higher scrap prices, ore shortage

Directly reduced iron (DRI) prices in the local Indian market have increased by at least Rs2,000 ($40) per tonne over the past two weeks to Rs21,900-22,000 per tonne ex-works on a shortage of iron ore and an increase in scrap prices, market participants said

Sail to set up 10m tpy iron ore beneficiation plant and 4m tpy pelletization plant at Gua mine

Steel Authority of India (Sail), the country’s largest steel producer, is to set up a 10 million tpy iron ore beneficiation plant and 4 million tpy pelletization plant in the eastern state of Chhattisgarh

CIS-origin pig iron export prices hold steady at low levels

Weakening European demand and continuing financial uncertainty in global commodity markets are keeping CIS-origin pig iron prices at low levels, market participants told MB

Vale starts low-cost pig iron production in Brazil

Brazilian iron ore producer Vale has started producing pig iron with new Tecnored technology in Pindamonhangaba, Brazil, the miner said in a statement on Thursday

Egyptian steelmakers start to deal with annulled DRI licences

Some of the Egyptian steelmakers that lost their licences to operate direct reduced iron (DRI) production modules last week have started speaking with a government agency about the annulment, sources in the North African state told MB