January Brazil Steel Output Up 3.8% To 2.8 Million Tons From Year Ago -IABr

Friday,18 February 2011 08:17pm

RIO DE JANEIRO -(Dow Jones)- Brazilian steelmakers produced 2.8 million metric tons of crude steel in January, 3.8% higher than in the same month of 2010, the Brazilian Steel Institute, or IABr, said in a statement Friday. January's output was 16.2% higher than in December, IABr said.

Rolled products steel output rose 0.4% from a year ago to 2.1 million tons. This was 15.4% higher than in December, when some Brazilian steel mills reduced output due to coal supply difficulties and high steel import levels.

Domestic steel product sales rose to 1.7 million tons in January, up 4.5% from the same 2010 period and 11.4% over December levels, IABr said.

Steel products imports fell to 343,600 tons in January, 10.6% lower than in January 2010, as international steel prices rose, boosting the cost of imported products.

Export volumes meanwhile grew to 1.1 million tons, 60% higher than a year ago, IABr said.
(sourced:Dow Jones)

OMK’s Vyksa increases railway wheel output by 2.4 times in January

Monday, 14 February 2011

The Russian steel and pipe producer United Metallurgical Company (OMK) has announced that in January 2011 its Novgorod-based subsidiary Vyksa Steel Works (Vyksa) increased its railway wheels output by 2.4 times year on year to 66,384 wheels.

In addition, in January this year Vyksa also produced 145,000 mt of steel pipes, including 93,000 mt of large diameter (LD) steel pipes, which corresponds to the output volume in January 2010.

(Sourced:steelorbis)

Tags:pipe, tubular, Russia, CIS, manufacturing, steelmaking, production, OMK

Wed,Feb09,20111

The Bayur Block, sub-block Tani Bakti and South Purwajaya use core drilling method HQ-3 with grid pattern ranged 50 metres. The reserve calculation on the block is still in progress.
For the Loajanan block, the company will continue its geological mapping to decide the mine potential sub blocks. The company still conducts due diligence to drill block Separi.
“All blocks have been approved by Minister of Energy & Mineral Resource for the Exclusive Mining Rights (PKP2B) for production granted to PT Insani Baraperkasa," Corporate Secretary Lenny S.C. said.
Total exploration cost reaches US$1.12 million as of January.
KKGI is owned by Goodwin Investment Private Ltd (17.53%), PT Optima Investama (16.27%), OCBC Securities Pte Ltd (15.80%), UOB Khay Hian Ltd (11.29%), and Dunway Holdings Ltd (6%).
(sourced:theindonesiatoday)
Tag:Coal company,PT Resource Alam Indonesia Tbk(KKGI),RAIN Group,explored Bayur,Perangat,Loajanan blocks,January 2011,PT Insani Baraperkasa,blocks,East Kalimantan

U.S.Steel narrows 4Q loss

Tuesday, January 25, 2011
United States Steel Corp. narrowed its losses in the fourth quarter to $249 million, or $1.74 per share, compared with a loss of $267 million, or $1.86 per share, a year ago.U.S. Steel Corp., which has a mill in Granite City, narrowed its losses in the fourth quarter to $249 million, compared with a loss of $267 million a year ago.

Sales for the quarter were up 28 percent to $4.3 billion.The company (NYSE: X) also narrowed its losses for the full year, reporting a loss of $482 million in 2010, an improvement over 2009, when the steel maker lost $1.4 billion.Any gains were partially offset by seasonal conditions in the fourth quarter, with a decrease in shipments and a decrease in prices, Chairman and CEO John Surma said in the earnings release.
sourced:St. Louis Business Journal from the Malia Spencer
Malia Spencer writes for the Pittsburgh Business Times, an affiliated publication.

Singapore's SMX says plans to launch iron ore futures in Q2

Wednesday Jan 26, 2011
SINGAPORE Jan 26 (Reuters) - The Singapore Mercantile Exchange is expecting to launch an iron ore futures contract in the second quarter, its chief executive said on Wednesday.
"Core aspects of the SMX iron ore futures contract have been finalized in conjunction with MAS (Monetary Authority of Singapore) and industry feedback for anticipated launch in Q2 2011,"

Thomas McMahon said in an emailed response to a Reuters query.
Singapore and India are racing to launch the world's first iron ore futures contract. The Indian Commodity Exchange said on Tuesday it was planning to launch an iron ore futures contract in a month, after securing approval of the commodity regulator. (Reporting by Manolo Serapio Jr.; Editing by Ed Lane, sourced :reuters)

Iron Ore-Key indexes climb to high but buying wanes

Wednesday Jan 26, 2011
SHANGHAI Jan 26 (Reuters) -

Offers to sell iron ore to China remained unchanged on Wednesday as steel mills closed buying in the final week before the Lunar New Year holiday, although key indexes hovered near record highs on Tuesday.
China's iron ore market has gradually ground to a halt this week as the Feb.2-8 Lunar New Year holiday approaches, and offers of Indian ore with 63.5 percent iron content selling to China stood little changed at about $190 per tonne.

"Our steel mill customers have already stopped buying the raw materials this week; there is no market at all right now," said an iron ore trader in Shanghai.
Year-end restocking by Chinese steel mills since early January has boosted prices of imported iron ore to near $200 per tonne including freight, a level last seen in February 2008.
The Platts 62 percent iron ore index IODBZ00-PLT stood steady at $186 per tonne on Tuesday, still near the record $186.50 touched last Thursday.

The Steel Index 62 percent benchmark .IO62-CNI=SI rebounded 40 cents to $185.4 per tonne, holding close to last Friday's record $185.70 last Friday.
The Metal Bulletin Iron Ore Index .IO62-CNO=MB bucked the trend again by falling about $1 to $183.48 per tonne on Tuesday after gaining for 12 consecutive sessions. (Reporting by Ruby Lian and Manolo Serapio Jr in SINGAPORE; Editing by Chris Lewis, sourced reuters)

MBIO Index 25 January 2011; $183.48/tonne; Index drops for first time in 13 days to $183.48

MBIO Index 25 January 2011

$183.48/tonne MBIO Index 24/1/11 $184.43/tonne % Change -0.5%/tonne $ Change -$0.95/tonne The MBIO Index today calculated to $183.48/tonne cfr Qingdao on a 62% Fe basis. This is a fall of $0.95/tonne on yesterday as the index falls for the first time since 6th January. It is also the largest drop in a month. Yesterday, despite the climb in the index, the number of transactions fell as mills stayed out of the market giving some indication that prices may drop shortly. This trend has continued today with few deals taking place. Assessments for 63.5% Indian material remained flat again today, at $188-191/tonne. With the holiday fast approaching, we may start to see the number of transactions continue to fall with traders unwilling to remain in the market as liquidity starts to dry up. Mills seem to have finished the majority of their buying as well. If this is the case we can expect to see the spot price start to edge down in the short term. Read More at http://www.mbironoreindex.com/ Sourced:Metal Bulletin Ltd.