December 30, 2009: Faced with the threat of closure, metal scrap traders have appealed the government to reshuffle taxation structure to volume-based from value-based.

December 30, 2009: Top Indian steelmakers, including SAIL, Essar and Ispat, are likely to increase prices by 3-4% or Rs 1,000-1,500 per ton in January in line with rising global prices.

December 11, 2009: By Arnab Mallick & Arusha Das: Leading refractory makers, Tata Refractories is firming up big expansion plans to make the best of the potential that is likely to emerge in future.

December 9, 2009: China will take its baby steps in the world's second fastest growing auto market soon, piggybacking on Shanghai Automotive Industry Corporation Group's joint venture with General Motors India, two decades after the country first attempted to penetrate the Indian market.

December 4, 2009: Essar Steel has approached the government to denotify a sector-specific Special Economic Zone developed by it in Hazira, Gujarat, as this would enable the company to sell the produce also locally.

December 3, 2009: In a move that will help importers, the government has relaxed anti-dumping duty on cold-rolled stainless steel of types not manufactured in the country.

December 3, 2009: State-run steel maker SAIL today cut prices of its flat steel products, used mainly by automobile and white goods industry, by up to Rs 500 a ton on account of weakening global demand.

December 2, 2009: Car majors Maruti Suzuki and Hyundai Motor India Ltd (HMIL) have registered record cumulative sales for the month of November.

December 1, 2009: The JSW Group, which was among the first conglomerates last year to hold back most of its major capital expenditure and greenfield projects due to the global financial crisis, has decided to revive two projects estimated to over Rs 2,000 crore together, encouraged by an improvement in the overall manufacturing sector.

December 1, 2009: The global slowdown did not have any negative impact on the output of Steel Authority of India Ltd (SAIL) due to the growing domestic demand, said top SAIL officials.

December 1, 2009: Steel Authority of India Limited (SAIL) plans to raise the steel consumption in Himachal Pradesh so that it reaches the national average, top SAIL officials said on November 30.

November 30,2009: After the success of ultra mega projects in the power sector, the government proposes to launch a similar scheme in the steel sector to accelerate creation of large steel capacity in the country to meet the growing demand.

November 27, 2009: Kalyani Gerdau Steels Ltd, the joint venture for an alloy steel plant between India's Kalyani Group and Brazilian steel major Gerdau, is set for a Rs 250 crore expansion

November 27, 2009: Iron ore producer Sesa Goa, said it expects a 25 per cent growth in output this fiscal and plans to ramp up production around threefold to 50 million tons in next 2 to 3 years.

November 27, 2009: After Karnataka, the steel giant ArcelorMittal has set its eyes on the mineral-rich Chhattisgarh for setting up a steel plant.

November 26, 2009: If there is one sector that has gained, from the recent economic rebound, both from a real economy and equity market point of view, it is the steel sector.

November 26, 2009: Tata Steel Ltd has posted a loss after minority interest & share of associates of Rs 2707.25 crore for the quarter ended September 30, 2009 as compared to profit of Rs 4771.65 crore for the quarter ended September 30, 2008.

November 25, 2009: The Karnataka government will be holding high level talks with a team from ArcelorMittal on November 27, to take forward the latter's proposal to set up a multi billion dollar steel plant in the state.

November 25, 2009: JSW Steel, may sell as much as 40 percent in its upcoming 10 million ton steel unit in West Bengal to its overseas partner JFE.

November 25, 2009: Delhi-based Bhushan Steel may look at doing a JSW Steel-JFE-like deal with Japan's Sumitomo Metal Industries.

November 24, 2009: The Federation of Indian Mineral Industries (Fimi), the apex representative body of mining companies, has urged the government to vary the royalty rate for iron ore based on the content.

November 23, 2009: Leading steel maker ArcelorMittal today said it has approached the Karnataka government for setting up a steel plant in the state.

November 20, 2009: Leading Indian integrated zinc and lead producer the Hindustan Zinc Limited (HZL) has revised its zinc prices upwards

November 20, 2009: CMI FPE Ltd has bagged an order for A 6 - Hi single stand reversing cold rolling mills

November 20, 2009: JFE Steel Corporation and JSW Steel Limited have entered into a strategic tie-up

October 25, 2009: The country's largest steel maker SAIL said that steel prices are unlikely to go up in November.

October 25, 2009: Tata Steel said that it has formed a joint venture with state-owned mineral trading firm MMTC Ltd to acquire, develop mines, minerals and metals.

October 25, 2009: The government has said it would launch a survey to assess per capita steel consumption in rural India.

October 25, 2009: Maruti Suzuki India, the country's largest car maker, expects buoyant demand in the domestic market to help notch double-digit growth for the rest of the year, after it posted better-than-expected 93% jump in profits to Rs 570 cr for the September ended quarter.

October 3, 2009: Steel Authority of India Ltd's Durgapur Steel Plant (DSP) is planning to resume export of railway wheel sets.

October 3, 2009: Jharkhand is likely to start mapping its mineral reserves with assistance from National Mineral Development Corporation (NMDC) shortly. The state mines and geology directorate has given its nod to the proposal sent by NMDC last year. The proposal has now been sent to the advisor to the state governor for final clearance.

October 3, 2009: Rourkela Steel Plant (RSP) has recorded more than 100 percent capacity utilization in all major areas of production in the first half of this fiscal (April-September).

October 3, 2009: The Rashtriya Ispat Nigam Ltd (RINL) here has achieved sales turnover of Rs 4,583 crore from April to September, surpassing the MoU target by 10 percent.

September 27, 2009: Steel Authority of India Ltd (SAIL), the country's largest steel producer, is looking to set up two greenfield slag-based cement manufacturing units with a total capacity of 3 million tons (mt) through a joint venture.

September 16, 2009: MSPL Ltd, the Bellary-based iron ore mining company, is planning to set up two iron ore beneficiation (extraction of iron ore from waste ore after washing) plants in the iron ore-rich Bellary district of Karnataka. Both the plants, which will have 1.2 million tons capacity each, will be set up with an estimated investment of Rs 650 crore.

September 16, 2009: Pig iron producer Tata Metaliks is eyeing a 3-5 million ton steel plant in Karnataka, depending on the feasibility, said H M Nerurkar, chairman, on the sidelines of the company's annual general meeting.

Rajkumar Mitra

September 16, 2009: In India, it is difficult to find the optimum quality of manganese ore in one location. On top of that, the availability of high grade ore is limited. Thus the domestic consumers, that is the manganese alloy producers, not only have to depend on ore from different regions of India but also have no option but to import.

Nudrat Alim

September 16, 2009: Orissa-based Shiva Cement Ltd has made a humble beginning in the field of iron ore beneficiation, but its necessity and importance will surely go up in the near future. In 2004, the company set up an iron ore beneficiation plant in Orissa with a capacity of 0.3 million tons.

Nudrat Alim

September 16, 2009: Sesa Goa Ltd, the only listed private sector iron ore mining company in India, runs more than a dozen iron ore mines spread across the states of Goa, Karnataka and Orissa. In an exclusive interview with Steel Insights, the managing director of Sesa Goa, P.K. Mukherjee, said that Indian mining should be formally given an industry status and fragmentation of mining leases should be stopped.

September 16, 2009: Tata Steel hopes to get control of land in Orissa shortly for starting work on its proposed 6 million tons per annum (in two phases) Kalinganagar project, according to H.M. Nerurkar, Executive Director of the company.

September 16, 2009: Tata Metaliks Ltd's decision not to go ahead with a mini steel plant at Kharagpur, the second plant there, is final.

September 13, 2009: India was the fifth largest steel producer in the world during the last financial year, a Steel ministry official said.

September 12, 2009: Steel Authority of India Limited (SAIL) Chairman and Managing Director S. K. Roongta indicated that the company was open to joining hands with NMDC for setting up a steel plant in Karnataka, primarily catering to sectors such as automobile and consumer durables.

September 12, 2009: Steel Authority of India (SAIL) is considering a ban on some Chinese contractors in its future projects after its poor experience with these companies, two people familiar with the development said.

September 6, 2009: SAIL is ready to put up a greenfield plant in Jharkhand

September 5, 2009: Essar Group has announced the appointment of Malay Mukherjee as chief executive officer of its steel business

September 5, 2009: Rastriya Ispat Nigam Limited, the flagship company of Visakhapatnam Steel Plant (VSP), achieved sales of Rs 1,080 crore in August, 2009

September 5, 2009: Bhushan Steel (Australia), part of Delhi-based cold roller, Bhushan Steel group, has acquired a 60 percent stake in Australian exploration company

September 5, 2009: Uttam Galva Steels on September 4, said ArcelorMittal Netherlands, a unit of leading steelmaker ArcelorMittal, has taken a stake in it and Globe's biggest M&A

August 29, 2009: Steel Authority of India (SAIL) has taken over state-owned Bharat Refractories (BRL) and merged it with itself. The merger, effective
April 1, 2007, has also got approval corporate affairs ministry, a SAIL official said.

August 21, 2009: Stainless steel major JSL Ltd's application for restructuring Rs 6,500 crore of debt was admitted in the Corporate Debt Restructuring (CDR) cell, at a lenders' meet on August 11, the company informed the stock exchanges today after the lenders cleared the minutes of the meeting.

August 21, 2009: Tata Steel-owned Corus Group plans to reopen its Llanwern hot-rolled strip plant in South Wales temporarily to meet fresh demand.

August 20, 2009: Iron ore miners are protesting alleged ambiguity in the government's method for calculating the 10 percent ad valorem royalty notified on August 13.

August 18, 2009: The Rs 15,000-crore steel pipes industry is set to grow 20-25 percent in the next 3-4 years

August 18, 2009: The expansion project of Rashtriya Ispat Nigam Ltd (RINL) is proceeding smoothly and the first phase is expected to be completed by September next year, according to P.K. Bishnoi

August 16, 2009: India's export of steel will fall by a whopping 35 per cent to 3.2 million tons (mt)

August 16, 2009: A majority of the steel companies in the world, which recorded huge losses

August 15, 2009: Tata Steel expects the Dhamra port in Orissa to be operational by next April

August 15, 2009: The Supreme Court has rejected iron-ore mining lease application of Orissa Sponge Iron and Steel

August 14, 2009: Paving the way for SAIL to go ahead with re-tendering to set up a blast furnace in Bhilai, the Durg District Court has dismissed a petition of Posco E&C, which had lost a construction order from the Indian firm due to alleged delay in signing the contract.

August 14, 2009: Revenues from iron ore for states such as Orissa is expected to go up substantially following the decision of the Cabinet Committee of Economic Affairs (CCEA) to levy royalty on iron ore on an ad valorem basis.

August 14, 2009: Steel Authority of India Ltd, the country's biggest domestic steel maker, hopes to get iron ore mining licence in a key state that will help boost output, company officials said on Thursday.

August 13, 2009: Faced with a huge shortage of base metal scraps due to a sudden ban on scrap imports, the Mumbai-based Bombay Metal Exchange (BME) and the Bombay Non-Ferrous Metals & Scrap Merchants Association (BNFMSMA) have urged the government to repeal the move.

August 13, 2009: Uttam Galva Steels, the value-added steel producer, has decided to increase galvanised and cold-rolled (CR) steel prices by Rs 2,000 a ton, marking the second hike this month.

August 13, 2009: As part of its long-term strategy, Tata NYK Shipping Pte Ltd, the Singapore-based joint venture (50:50) between Tata Steel and Nippon Yusen Kabushiki Kaisha (NYK Line), a Japanese shipping major, proposes to enter into long-term charter for capesize vessels, according to the Tata Steel annual report.

August 12, 2009: Steel companies' results failed to shine in the quarter ended June, despite a decent 5 percent rise in domestic sales, a 10-15 percent rise in steel prices from the recent lows and around 30-50 percent decline in costs of raw material.

August 12, 2009: Tata Steel said that it has reduced prices of some of its products primarily consumed by the construction sector by up to Rs 1,500 per ton in view of the prevailing market scenario.

August 11, 2009: Indian iron ore miners have always shown a distinct preference for trade in the spot market rather than entering into yearly contracts with their clients on benchmark rates.

August 11, 2009: Strong steel prices in China boosted benchmark spot prices of iron ore from India to around $115 a ton, including cost and freight, but the offers were for higher-grade ores with 63.5 percent iron content.

August 11, 2009: Tata Group patriarch Ratan Tata has said the next 12-18 months would likely be "difficult and challenging" for Tata Steel, but hopes that it would come out stronger from the difficult period to become a more cost- effective manufacturer of the alloy.

August 11, 2009: Tata Steel is scouting for coking coal and iron ore mines abroad, including in Brazil and Australia, to ensure raw material security for its European operations.

August 11, 2009: Robust demand from automobile and consumer durable sectors led to increased production and consumption of steel during April-July period this fiscal.

August 10, 2009: The Congress-led government is increasing the royalties on non-coal minerals, including iron ore, to 10 percent, under pressure from mineral-rich states such as Orissa, Jharkhand, Karnataka and Rajasthan.

August 10, 2009: The Karnataka government is planning to develop a 300-km 'steel corridor', and the state expects this project to attract investments worth Rs 20,000 crore from steel majors. The corridor, which is expected to create 200,000 direct and indirect jobs, is planned around the iron ore-rich Bellary-Hospet area in eastern Karnataka.

August 10, 2009: State-owned NMDC, India's biggest mining company, will tap the capital market in two phases.

August 10, 2009: The Andhra Pradesh Government is contemplating to float a joint venture company with equal stake from Andhra Pradesh Mineral Development Corporation (APMDC) and National Mineral Development Corporation (NMDC).

August 9, 2009: Essar Steel has entered into a deal with Denmark-based Nordjysk Elhandel for selling carbon credits that will earn the Indian firm about Rs 300 crore over a period of 10 years.

August 05, 2009: Rourkela Steel Plant (RSP) has achieved a capacity utilisation of more than 100 per cent in its production of hot metal, crude steel and saleable steel in the month of July this year.

August 5, 2009: The country's top steel makers have increased prices of flat steel products sold in the spot market by up to 3% from August 1 due to higher input costs and rising metal prices globally.

August 4, 2009: Steel and base metal prices have surged in the last three-four weeks as corporate results in the US have shown a sign of revival in the economy. The rise in metal prices is also going to end the party for companies that have been making high profits on the back of low raw material cost.

August 4, 2009: 18 out of the 49 steel companies who signed memorandum of understanding (MoU) with the Orissa government for setting up of steel projects in the state, have become eligible for the grant of mineral concession as per the terms and conditions embodied in the MoU.

August 04, 2009: Tata Steel, the world's sixth largest steelmaker, has prepared a plan to produce half the iron ore and coking coal, the raw materials used to make steel for Corus, its European subsidiary, by 2012.

August 4, 2009: Despite lower profits in the first quarter and eroding realisations, major steelmakers are increasing production, in what looks to be a volume play.

August 4, 2009: India's third-largest steel maker, JSW Steel Ltd, said on Tuesday that crude steel production for July rose by half to 0.5 million tonnes.

August 4, 2009: Steel Authority of India (SAIL) has produced 1.08 million tonnes (mt) of saleable steel in July this year, a 14 per cent increase in production from the same period the previous year. In a statement the company said sales at 1 mt registered a growth of 25 per cent.

Source: Business Line

August 2, 2009: The government may soon levy a 10 percent royalty on iron ore on ad valorem basis as the mines ministry has sent a proposal in this regard to the union cabinet for its approval.

August 2, 2009: Public sector steel major Rashtriya Ispat Nigam Ltd (RINL) has entered into a joint venture with Manganese Ore India Ltd (MOIL) to form 'RINMOIL Ferro-Alloys (Private) Ltd', to produce ferro alloys.

August 1, 2009: The country's largest car maker, Maruti Suzuki India Ltd, on Saturday reported a 33.36 percent jump in sales at 78,074 units in July.

July 28, 2009: The Goa government has decided to close all mining companies found to have involved in illegal iron ore excavation.

July 28, 2009: State-run steel major SAIL on Monday said it plans to raise long-term debt of Rs 6,500 crore from various banks to fund its capex plans for the current fiscal.

July 26, 2009: The Government has cleared 15 highway projects totaling Rs 15,560 crore to be build under the Public Private Partnership (PPP) mode in eleven states.

July 26, 2009: India's infrastructure sector output grew 6.5 percent in June from a year earlier, higher than an unrevised 2.8 percent in May, showed recently released government data, signaling signs of a pick up.

July 24, 2009: Ramsarup Industries Ltd, a leading producer of specialty steel wires, has set its sights on the power and infrastructure sector to gain a foothold in the engineering services sector.

July 24, 2009: Electrosteel Integrated Ltd, which is setting up an integrated steel plant in Jharkhand, plans to start production by the next financial year 2010-11.

July 21, 2009: Sajjan Jindal-promoted JSW Steel has posted a 6.4 percent drop in the first quarter consolidated profit, at Rs 234.08 crore, as prices failed to recover in line with demand from automakers and builders.

July 20, 2009: JSW Steel reported a 6.45 percent decline in consolidated net profit, at Rs 234.08 crore, for the first quarter ended June 30, 2009, against the same period last year.

July 19, 2009: The central government's plan to divest part of its stake in all undertakings of the steel ministry has come as a blessing in disguise for the ailing KIOCL. The company, which currently has no captive iron ore mine to run its pelletisation and pig iron plants in Mangalore, will benefit from the government's proposal to convert it into a subsidiary of NMDC. Following its acquisition, the ore-starved mining company will be assured of a captive mine in the iron-rich Bellary region of north Karnataka.

July 19, 2009: Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, said a top company executive. The mine has reserves of more than 50 million tons of thermal coal, which is mainly used in power generation. Though the deal size could not be ascertained, mining experts feel it could be between Rs 350-400 crore depending on the quality and grade. JSPL has interests in steel, power and mining.

July 19, 2009: The government is looking at four mining units under the administrative control of the steel ministry for stake sale. But a roadmap is yet to be drawn. The move is being considered to meet funds requirement, said a top government official.

July 19, 2009: Bharat Earth Movers Ltd (BEML) and Steel Authority of India Ltd (SAIL) have signed a memorandum of understanding (MoU) for the design, development and production of 100-tonne wagons for the high-speed freight corridors planned by the Railways. A BEML release said that its Bangalore complex would design, develop and supply the wagons to the Railways.

July 18, 2009: Jindal Steel & Power has bought the Kiepersol thermal coal mine in South Africa, industry sources said.

July 18, 2009: Posco, will buy 90 percent stake in Vietnam's Asia Stainless Corporation and build a plant in India after this week's forecasting of a demand recovery in the second half.

July 18, 2009: SAIL said that it would borrow Rs 5,000 crore this fiscal to partly fund its expansion plans.

July 17, 2009: India-focused mining group Vedanta Resources Plc is planning to expand to steel manufacturing with a partner, the Mint newspaper reported on Friday.

July 17, 2009: India-focused mining group Vedanta Resources Plc is planning to expand to steel manufacturing with a partner, the Mint newspaper reported on Friday.

July 17, 2009: Steelmakers, including JSW, Essar and Ispat, have sought lower royalty charges on iron ore meant for domestic consumption with a view to
control input costs.

July 12, 2009: To discourage exports of iron ore, Steel Minister Virbhadra Singh will soon talk to Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee for restricting shipments of the mineral.

July 12, 2009: They may commit investments of thousands of crores but Mittal, Tata or SAIL will have to bid like anyone else if they want coal blocks for their power or steel projects, Coal Minister Sriprakash Jaiswal has said.

July 12, 2009: Steel Authority of India Limited (SAIL) is planning to get up a steel processing unit in Himachal Pradesh.

July 12, 2009: SAIL said that it will invest Rs 3,500 crore to set up 4-million tons per annum (mtpa) steel mill at its Bhilai Steel Plant.

July 11, 2009: TRF Ltd, an associate firm of Tata Steel, has bought a 51 percent stake in a Sri Lankan trailer manufacturer for Rs 42 crore.

July 11, 2009: Rashtriya Ispat Nigam Ltd will complete its Rs 12,000-crore expansion project ahead of schedule and start commercial production from the augmented capacity by October 2010.

July 10, 2009: Corus Group, Europe's second-largest steel maker and a subsidiary of Tata Steel, today announced an additional 366 job cuts at its North East plant at Scunthorpe.

July 10, 2009: The Orissa government has cancelled the lease of 120 acres granted to Tata Iron & Steel Ltd at Nayagarh in Keonjhar district.

July 10, 2009: The Steel Ministry is in favour of restricting iron ore exports to China, South Korea and Japan to ensure availability of the raw material to domestic steel companies.

July 9, 2009: India will speed up the process of granting iron ore mining licenses to various steel companies, including South Korea's Posco, according to steel minister Virbhadra Singh.

July 9, 2009: ArcelorMittal SA, the world's largest steel maker, said it was seeking to change loan conditions with its main bankers for a year to allow the company take on more debt if the current steel slump worsens.

July 8, 2009: Essar Steel, part of the Ruia-controlled diversified conglomerate, is close to acquiring a majority stake in Shree Precoated Steels of the Ajmera Group, in a move that will consolidate its presence in the value-added steel market and make it one of the largest players in the cold-rolled segment.

July 5, 2009: ArcelorMittal, will restart its second blast furnace in Gent

July 5, 2009: Steel majors in Asia and elsewhere are anxious about developments in India in relation to iron ore.

July 5, 2009: Sajjan Jindal-controlled JSW Steel plans to double the output from its plate and pipe mills in the US

July 4, 2009: The steel industry seems unmoved by the Rail budget. While welcoming "a people friendly" budget which announced no increase in passenger fares or freights

July 4, 2009: Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan.

July 3, 2009: Paradip Port Trust (PPT) has signed a concession agreement for construction of a Rs 506.3-crore iron ore terminal on build, operate and transfer (BOT) basis with Blue Water Iron Ore Terminal Pvt Ltd (BWIOTPL).

July 3, 2009: JSW Steel Ltd, India's No. 3 maker of the alloy, has said its crude steel output for the April-June quarter was up 45 percent, mainly due to production from its new plant in Karnataka.

July 2, 2009: Japanese steel major, the $21.7 billion Kobe Steel, Ltd, has decided set up a subsidiary in Kolkata to market its steel production machinery in India.

July 2, 2009: Steel prices could go up 2 to 5 percent in July, with large steel producers such as SAIL, Ispat and Jindal Steel contemplating price hikes.

June 29, 2009: Steel tycoon L.N. Mittal said that he was disappointed over delays in securing regulatory approval for his proposed Rs 1-lakh crore steel project in India.

June 28, 2009: All the 10 steel units of the Kalinganagar Industrial Complex in Orissa's Jajpur district are on the verge of closure.

June 27, 2009: After a failed attempt to sell Corus' Teesside plant, Tata Steel has initiated talks with fresh suitors to complete the sale by August.

June 27, 2009: Corporate Ispat Alloys Ltd, part of the Abhijeet Group, kickstarted the first phase of its integrated steel plant project in Seraikela-Kharsawan district on June 26.

June 26, 2009: India is poised to occupy the second or third position in the world's steel industry, according to Steel Authority of India (SAIL) on June 25.

June 26, 2009: Geologists have discovered 'Asia's largest' iron ore deposit in northeast China's Liaoning province, with estimated reserves of more than 3 billion tons.

June 26, 2009: As Steel Authority of India Ltd (SAIL) embarks upon a major expansion and modernisation plan, its Management Training Institute (MTI) is getting ready to play a key role by developing its vast human resources.

June 26, 2009: Tata Steel suffered a 60 percent drop in its consolidated net profit for the year ended March 2009, as a slow economy in the US and Europe affected production and sales.

June 24, 2009: Expressing concern at China giving incentives for steel exports, ArcelorMittal chief L.N. Mittal said such steps could further delay the recovery of the sector, which is anyway unlikely before 2011.

June 22, 2009: The Karnataka government has urged the Centre to approve the iron ore mining lease in favour of Visvesvaraya Iron & Steel Ltd (VISL), one of the oldest steel plants in the state, "as a special case."

June 20, 2009: JSW Steel, is considering to raise prices of some products used in automobiles and consumer goods next month to make up for higher raw material costs, said a company official.

June 20, 2009: Tata Steel has raised product prices by Rs 500 to Rs 750 a ton for the second time in the last two months on the back of improved domestic consumption and signs of global economic recovery.

June 18, 2009: China has thrown the spanner in the works of the world iron ore market and almost threatened to block the proposed joint venture (JV) between Rio Tinto and BHP Billiton.

June 17, 2009: The huge quantity of scrap generated by Indian Railways is now making its way to manufacturing units for production of wheels, thanks to the innovation brought about in this field.

June 17, 2009: Vedanta group company Sesa Goa is looking to raise about Rs 583 crore through issue of shares to the firm's promoters and its associates.

June 17, 2009: India's largest private steel maker, JSW Steel, is eyeing export markets such as South America, Mexico and Chile to keep its US subsidiary -- JSW Steel USA -- afloat.

By Arnab Mallick

June 16, 2009: Amid all adversities and challenges due to the deep global recession, India has finally emerged as one of the top three steel producers of the world.

June 16, 2009: International demand of ferrous scrap, led by Turkey and China, has driven price recovery in the global markets. In fact, the surge in Chinese import demand buoyed and export resurgence has helped EU prices to recover. Squeeze on supply has aided recovery, even while local demand continued to sag.

June 16, 2009: The mood was mixed in the international long products market in the month of May. Whereas prices moved up in some major markets, in countries like Turkey, prices moved down due to lack in demand. Though prices moved up in the US, markets were weak in Europe. However, the mood was upbeat in China where there were ample positive signals.

June 16, 2009: Steel markets across the country remained more or less stable towards the beginning of the month of May. Ingot prices, melting scrap and sponge iron also depicted a stable trend at various places of the country. Demand in the market did not see any major change over a week and remained by and large stable.

June 16, 2009: The domestic steel market saw some recovery in the month of May. However, the long products market witnessed a mixed trend with prices declining by the end of the month.

By Arnab Mallick

June 16, 2009: The overall economic sentiment saw some decent improvement in May. However, it would be too early to suggest that we are on growth track as signals from the world's largest economy is still not very encouraging. But that can never negate the fact the economic sentiment in Asian economies, primarily in India, China and South Korea are showing signs of improvement.

By Sarbani Haldar

June 16, 2009: The upcoming Dhamra Port Company Limited (DPCL) will handle approximately 5 million tons per annum of cargo from Tata Steel as soon as it is commissioned in April 2010, company sources told Steel Insights. This comes at a time when other leading ports of the country are striving hard to meet their cargo handling targets.

By Arnab Mallick

June 16, 2009: After a long wait, the international flat products market has finally seen some revival in demand. There was considerable demand seen primarily in the Asian, Middle East and CIS markets.

By Madhuchanda Dasgupta

June 16, 2009: A porcelain cup with a steel handle, a steel and glass tea cup, a steel tray with leather handles. Or maybe a fountain-like floor lamp in your living room and a designer candlestick stand. All with a bit of steel and all straight from the showroom into your home.

By Nudrat Alim

June 15, 2009: Indian importers of ferrous scrap heaved a sigh of relief after the import restriction on the material was eased by the Ministry Of Environment & Forests.

June 15, 2009: Cost reduction efforts are now just another routine activity at Rourkela Steel Plant (RSP). The plant has taken several different steps - both short term and long term - in its efforts.

June 15, 2009: Pre-fabricated parts have been facilitating the Indian industrial sector while carrying out projects. However, domestic fabricators' limited production capacity has caused more and more buyers to shift their focus towards imports to ensure timely delivery.

June 15, 2009: Falling demand from major consuming areas under prevailing market conditions have prompted major steel producers of the world to realign their strategies and focus markets. Indian steel producers, like their international counterparts, have been looking at improving demand in the current scenario.

By Nudrat Alim

June 15, 2009: Taking a cue from the long term iron ore contract signed between Japanese steel major Nippon Steel and Australian mining company Rio Tinto, most Asian countries, except China, have gone ahead and settled the deal with the mining giant at the same terms which were agreed upon by the Japanese steel mill.

June 15, 2009: The global financial crisis has perhaps been discussed threadbare over the last few months. Throughout this period, experts have tried to analyse at what point there will be some positive signs. And now it is perhaps the Indian steel experts for whom the revival has become a reality.

June 15, 2009: In a scenario where the steel sector is showing the first signs of revival, every steel producing nation is trying its best to protect its own domestic industry.

By Rajkumar Mitra

June 15, 2009: Steel plants have decided not to compromise any more on the specifications of ferro alloys for the sake of cost advantage.

By Arusha Das

June 15, 2009: Just like its global peers, the Indian steel industry has faced one of the most difficult times in 2008. The obvious reason of this downhill movement has been the global meltdown cutting across all the sectors.

By Arusha Das & Arnab Mallick

June 15, 2009: At a juncture when the entire world is trying to battle the consequences of the global economic recession, the Indian pig iron industry is no exception, struggling hard to come out of the downturn. And this was rather expected considering that most of the major consuming sectors had been going through a rather difficult phase.

By Arnab Mallick & Arusha Das

June 15, 2009: The Indian pig iron industry has been in doldrums for the past one year, thanks to the global economic crisis. Both domestic and global demand declined, and exports were massively hit. As a result, the prices went down to an all time low, dampening the spirits of the entire pig iron industry.

June 15, 2009: NLMK is currently implementing the second phase of its technical upgrading programme, which is expected to be completed by 2011.

By Sarbani Haldar

June 15, 2009: The Russian steel sector was severely hit by the recession and in October 2008, 29 percent of the country's production facilities were shut down.

By Sarbani Haldar

June 15, 2009: Siemens VAI - one of the leading technology providers in the global iron and steel industry - is focusing on China, India and Russia as its future growth markets in the steel sector.

June 15, 2009: The world's second and third largest iron ore miners, Rio Tinto and BHP Billiton, have announced that they have signed a non-binding agreement in order to establish a production joint venture to tap both the companies' Western Australian iron ore assets in the best possible way. The 50:50 JV encompasses all current and future Western Australian iron ore assets and liabilities.

June 15, 2009: Keeping the current economic scenario in mind, JSW Steel has decided to defer its Bengal project by six to eight months.

June 14, 2009: Steel ministry has proposed to the finance ministry to reimpose 15 percent export duty on iron ore (lumps and fines)

June 14, 2009: The global steel market stands battered by economic slowdown. Falling demand, burgeoning inventory and collapsing prices

June 14, 2009: Ferrous scrap consumption in the country, which has been showing signs of revival since the start of the current financial year

June 13, 2009: The Goa-based Dempo group, which sold its mining assets to Sesa Goa, is not severing its ties with iron ore mining, its traditional business.

June 13, 2009: Union steel minister Virbhadra Singh said the government would soon set up a steel plant in Sirmaur district of Himachal Pradesh.

June 12, 2009: Orissa Sponge Iron & Steel - the takeover target of three firms - has written to Sebi seeking extension of the deadline to convert warrants owned by Bhushan Group into equity shares by at least two months, said a director on the board of Bhubaneswar-based company.

June 12, 2009: Iron ore prices surged 10 percent, touching a four-month high in June on rising demand from China, even as the final decision on long term contract prices remained unresolved between Australian suppliers and Chinese buyers.

June 12, 2009: About 35,000 square km forest area in Orissa had mineral reserves and out of this, preliminary exploration has been taken up in 31,000 square km and detail exploration work in 485 square km area, steel and mines minister Raghunath Mohanty told the state assembly.

June 12, 2009: The slowdown in global steel consumption may force India's largest steelmaker, the state-run Steel Authority of India (SAIL), to cut its Rs 78,000-crore expansion plan by 13 percent to save around Rs 10,000 crore.

June 11, 2009: Steel Authority of India Ltd (SAIL) and BHP Billiton have finalised a long term contract for hard coking coal (various grades) at between $113 to $128 fob.

June 11, 2009: Steel prices should not increase in India as raw material prices have fallen.

June 11, 2009: With demand accelerating from the automobile and construction sectors, India's steel consumption increased 6 percent to 8.22 million tons (mt) during April-May, over the corresponding months last year.

June 11, 2009: TRF, a Tata Steel arm specialising in material handling systems, is targeting the merger and acquisition (M&A) route in a bid to notch up a five-fold revenue growth by 2013.

June 10, 2009: Steel companies can finally breathe easy. At least three companies -- JSW Steel, Ispat Industries and Essar Steel -- are likely to enter into long-term raw material purchasing contracts soon and the savings on input costs could be as much as 40 to 50 percent in this financial year.

June 8, 2009: Bokaro Steel Plant plans to shave off up to Rs 225 crore in expenditure this fiscal on account of rising input costs and declining profits.

June 8, 2009: Vizag Steel Plant has sold some 1.69 lakh tons value added steel in May 2009, 14 percent more than May 2008.

June 8, 2009: A.P. Choudhary has joined RINL, Visakhapatnam as director (projects) while capacity expansion is on.

June 7, 2009: Domestic steel giants like JSW Steel and Jindal Steel & Power (JSPL) are considering increasing prices of their products following the firming global cues and the improvement in domestic demand.

June 6, 2009: Rio Tinto is right to scrap plan A and pursue plan B.

June 6, 2009: Rio Tinto Group, the world's third-largest mining company, scrapped an investment from Aluminum Corp of China in favour of raising $21 billion from a share sale and an iron ore venture with BHP Billiton Ltd.

June 6, 2009: JSW Steel has clocked a 33 percent growth in crude steel production for May 2009, compared to the year-ago period.

June 6, 2009: Tata Steel has said its sales volume surged 18 percent to 4.69 lakh tons in May on the back of robust demand from the auto and construction sectors.

June 5, 2009: India's largest steel maker Steel Authority of India (SAIL) has stopped giving discounts on flat steel products to take advantage of better demand in a move that would make these products marginally more expensive for buyers, said a person with direct knowledge of the development.

June 3, 2009: Tata Steel-owned European steel company Corus chief executive officer Kriby Adams is expected to meet members of the international consortium of buyers who had walked out of a 10-year contract to buy from Corus' north east Teesside plant.

June 3, 2009: After cutting investment in the first phase of its ambitious 10-mtpa West Bengal project by almost a third, JSW Steel has said commencement of construction work at the site of the mega steel plant will now be deferred on account of the current "economic situation."

June 1, 2009: The promoters of Ispat Industries, Pramod and Vinod Mittal, have pledged their entire shareholding in the company with lenders as the beleaguered steel company makes yet another attempt to rid itself of a mountain of debt and emerge healthy.

May 31, 2009: Corus, or Tata Steel UK, has gained much-needed breathing space, even as it explores all options to save its Teesside plant that is temporarily closed. Its lenders agreed to reset the terms and conditions for a GBP 3.7 billion loan ($5.6 billion) that was taken at the time of the acquisition of Corus by Tata Steel.

May 30, 2009: The new Minister of Steel, Virbhadra Singh, sympathised with the demand of the steel producers for fiscal measures to curb the threat of cheap steel imports.

May 29, 2009: Jindal Steel & Power Ltd (JSPL) has reported an increase of 141 percent in net profit after tax to Rs 3,007.15 crore for 2008-09.

May 29, 2009: Steel Authority of India (SAIL) made a net profit of Rs 1,487 crore for the quarter ending March 31, 2009.

May 29, 2009: The UPA government has its 79 council of ministers in place now.

May 27, 2009: Rashtriya Ispat Nigam Ltd has signed a memorandum of understanding (MoU) with the New Energy & Industrial Technology & Development Organization of Japan.

May 26, 2009: Rio Tinto has agreed to reduce 2009-10 benchmark prices for iron ore with Nippon Steel by 37 percent.

May 26, 2009: Vedanta Resources group firm Hindustan Zinc said it has cut the prices of zinc, used for producing galvanised steel, by Rs 1,100 to Rs 89,200 per ton.

May 25, 2009: Welspun Power and Steel Ltd (Welspun), has completed take-over of Vikram Ispat, the Sponge Iron Business of Grasim Industries Limited, on May 23, 2009.

May 24, 2009:The Steel Ministry is yet again pushing for the renewal of Chiria mines' leases in favour of SAIL to ensure that company does not face any iron ore shortage while implementing its Rs 78,000-crore expansion project.

May 24, 2009: The Jharkhand government has granted a prospecting licence (PL) to Tata Steel for the Ankua iron ore mines. A senior company official said that Tata Steel has been allocated 1,800 hectares for prospecting in the Ankua area.

May 23, 2009: Hit by the prevailing industrial downturn, the country's largest stainless steel producer, JSL, has shelved its $1.2-billion joint venture project with Indonesia's PT Antam TBK in the South East Asian country.

May 23, 2009: The Orissa High Court on 21 May asked Jindal Stainless Ltd [JSL] to sell surplus power generated from its captive power plant at Kalinganagar to the state grid.

May 23, 2009: It's not official yet. But the signs are ominous. One of the state's most high profile industrial projects, the Rs 40,000-crore JSW Bengal Steel venture appears to be have been relegated to the back burner.

May 20, 2009: The Indian Steel Secretary, P K Rastogi, has said that the government will not impose a temporary duty on steel imports. He was speaking at the sidelines of 'Indian Steel 2009', a conference organised by Metal Bulletin and mjunction services limited.

May 20, 2009: Production at Bhilai Steel Plant's (BSP) plate mill may go up to 1.8 million tons in 2010-11 if demand continues to remain strong, said S S Mohanty, GM in-charge (services), BSP. He was speaking at the sidelines of 'Indian Steel 2009', a conference organised by Metal Bulletin and mjunction services limited.

May 20, 2009: Utilisation of virgin iron ore will stabilise over the next 20 to 25 years, according to J J Irani, director, Tata Sons. Irani said this at the sidelines of 'Indian Steel 2009' a conference organised by Metal Bulletin and mjunction services limited.

May 20, 2009: As per J J Irani, director, Tata Sons, HRC prices are expected to stabilise soon. He was speaking at the sidelines of 'Indian Steel 2009', a conference organised by Metal Bulletin and mjunction services limited.

May 20, 2009: JSW Steel said it plans to close down its US mills for three months from June due to poor demand but carry out upgrade and modernisation works in the interim expecting better times ahead.

May 20, 2009: SAIL, the country's largest steel maker, managed to sail through the global economic meltdown in 2008-09, retaining its steel production almost equivalent to the previous fiscal (2007-08) at 12.5 million tons (mt).

May 20, 2009: India's steel demand is poised to grow between 5 to 10 percent in the current financial year despite a slide in global demand.

May 19, 2009: Steel prices are likely to witness stability in the near future, as per Shoeb Ahmed, director (commercial), Steel Authority of India Limited (SAIL).

May 19, 2009: Demand for steel from the automobile sector in India almost doubled in the last one month for Ispat Industries, said Vinod Garg, executive director (commercial) of the company,at the sidelines of 'Indian Steel 2009', a conference organised by Metal Bulletin and mjunction services limited.

May 19, 2009: The Supreme Court allowed the Neeraj Singhal-led Bhushan group to transfer, sell or create third party rights in any Orissa Sponge Iron & Steel Ltd (OSIL) shares it acquired.

May 19, 2009: Speaking at the sidelines of 'Indian Steel 2009', a conference organised by Metal Bulletin and mjunction services limited, Indian Steel Secretary, P K Rastogi, said that demand for steel in India will pick up in 2009-10.

May 19, 2009: India's Steel Secretary, P K Rastogi said that the Steel Authority of India Limited (SAIL) would be investing Rs 13000 to Rs 14000 crores in the current financial year, out of the total Rs 60,000 crores which it plans to invest over a period of time. He was speaking at the sidelines of 'Indian Steel 2009', a conference organised by Metal Bulletin and mjunction services ltd.

May 19, 2009: Bosch Rexroth India Ltd will train Steel Authority of India Ltd's (SAIL) 20,000-odd technical and executive manpower to meet the modernisation and expansion needs of its plants.

May 18, 2009: Steel firms want the next government to control cheap imports of the alloy into the country to support the local industry and step up investment in infrastructure to boost demand, according to officials.

May 17, 2009: Tata Steel on Sunday said it has taken major retail initiatives to promote sale of its steel products in the country, including doubling of its outlets to 1,000 in the next 2-3 years for its branded products.

May 16, 2009: Keeping pace with the fast changing scenario in the steel sector, Rourkela Steel Plant (RSP) has embarked on a major modernisation programme, wherein it will increase production and improve quality of products, its managing director S N Singh said.

May 16, 2009: Keeping pace with the fast changing scenario in the steel sector, Rourkela Steel Plant (RSP) has embarked on a major modernisation programme, wherein it will increase production and improve quality of products, its managing director S N Singh said.

May 16, 2009: Domestic producers of hot rolled (HR) steel, the intermediate that is used by automobile and consumer durables manufacturers, have emphatically ruled out the possibility of dropping prices ahead of the imposition of a safeguard duty on imports.

May 15, 2009: Stung by an "extraordinary economic environment," global steel behemoth ArcelorMittal has decided to indefinitely lay off nearly 1,000 employees at its Indiana Harbour facility.

May 15, 2009: India has emerged as the third-largest steel producer in the world - leaving behind Russia and the US - in the first quarter of 2009.

May 14, 2009: ArcelorMittal feels the flat product market in Asian countries is likely to get stronger. Keeping this in mind the company plans to increase prices for export shipments there.

May 14, 2009: The current fiscal would be "very challenging" for ArcelorMittal, even as it is optimistic about demand picking up in the second half of 2009.

May 14, 2009: Sajjan Jindal-led JSW Steel has said it has no plans to sell its US-based units.

May 14, 2009: More than two dozen corporates - including Larsen & Toubro, Siemens VAI, SMS Siemag and Paul Wurth - have evinced interest for nine turnkey NMDC contracts, for its Rs 14,000-crore steel plant in Chhattisgarh.

May 14, 2009: Steel Authority of India Ltd will not raise prices of hot rolled coil (HRC) even if the government imposes a safeguard duty.

May 14, 2009: Maharashtra Seamless (MSL) has postponed by almost two years its plan to set up two separate steel plants.

May 14, 2009: At a time the US and European governments are busy trying to close their markets to foreign steel and imposing anti-dumping duties on steel products from India, there has been a sharp surge in steel imports.

May 13, 2009: Automobile sales for the financial year 2010 started on a better note with improved performance in April. The increase in sales is attributed to auspicious occasion of Akshaya Tritiya falling during the month and revival in demand from rural markets.

May 13, 2009: Indian steel makers have increased prices of galvanised steel by up to 5 percent due to sharp escalation in price of zinc, a key input, in the spot market.

May 12, 2009: Usha Martin Ltd reported a standalone profit before tax of Rs 214.04 crore for the year ended March 31, 2009, from Rs 200.72 crore in the previous fiscal - an increase of 6.6 percent.

May 12, 2009: Taiwan's China Steel Corp (CSC) reported a 12.3 percent month-on-month fall in its steel output during April. The company produced 571,916 tons of steel in April due to the weak steel prices, as per a Steel Business Briefing (SBB) report.

May 12, 2009: The prospect of a mid-month price increase in cold rolled (CR) and galvanised steel used by automobile and consumer durables makers has abated.

May 12, 2009: Sajjan Jindal-owned JSW Steel has said it aims to sell more than half of its total production through retail chains in the next two years.

May 12, 2009: JSW Steel plans to sell its plants in the US to cut rising losses.

May 11, 2009: Uttam Galva Steels Ltd (UGSL), producer-exporter of value added steel products, posted 39 percent more net sales, at Rs 4,372 crore, in the year ended March 31, 2009 than Rs 3,156 crore in the previous corresponding period.

May 11, 2009: The Ruias-promoted Essar Steel will expand its global chain of retail brand -- Steel Hypermarts -- in the Middle East, Indonesia and other South Asian nations in the next three years.

May 11, 2009: JSW Steel has said it registered a 60 percent year-on-year growth in crude steel production for April, mainly on output from a recently commissioned expansion project.

May 10, 2009: Tata Steel supplied 800,000 tons to the auto sector last fiscal, a 12 percent fall from 900,000 tons in 2007-08.

May 10, 2009: Value-added steel products manufacturer and exporter, Uttam Galva Steels, has posted a cash profit of Rs 193-crore in FY 09.

May 10, 2009: Global iron ore trade, which is dominated by companies like BHP and Rio Tinto and Vale of Brazil, is poised to see radical new price trends in 2009, thanks to production cuts and volatile market conditions in the last few months.

May 10, 2009: NMDC is likely to float a joint venture firm with South Africa's Kopano Ke Matla Investment Company by July to scout minerals like iron ore and manganese in African nation.

May 10, 2009: Backed by improved demand from auto and construction sectors, the country's steel production increased by nearly four percent to 4.49 million tons in April compared to the corresponding month last year.

May 9, 2009: A panel of secretaries is likely to take up the issue of imposing safeguard duty on hot rolled coils (HRC) on May 11.

May 9, 2009: There's a welcome buoyancy in domestic demand for steel.

May 9, 2009: European steelmaker Corus, which was acquired by Tata Steel, may be forced to shut down its Teesside Cast Products (TCP) plant in northeast England if a consortium of buyers fails to honour its commitment to buy nearly 80 percent of its output.

May 8, 2009: Top private steelmakers witnessed robust sales growth in April 2009, compared to the same month last year, on the back of healthy demand from the construction and automotive sectors.

May 8, 2009: Tata Steel ended April with a significant hike in its hot metal, crude steel and saleable steel production over the corresponding month of last year.

May 8, 2009: Tata Steel has launched a new brand of flat steel, named Galvano.

May 7, 2009: Steel makers such as Tata Steel and Rashtriya Ispat Nigam (RINL) have increased prices of long products sold in the spot market by up to Rs 1,000 per ton this month.

May 7, 2009: The Liberian government, which invited global bids for a $1.6-billion iron ore project, has extended the deadline for bidding after potential bidders expressed a lack of interest.

May 6, 2009: Ruias-led Essar Steel has said it plans to pump in Rs 1,000 crore in a span of three years for setting up service centres across India, North America and the Middle East, to cater to specific steel requirement of auto, white goods and SME sectors.

May 4, 2009: Steel production has registered a 2.6 percent dip during March, even as cement output

May 2, 2009: The global slump in steel prices and demand has prompted Tata Steel to consider restructuring

May 2, 2009: Bhushan Steel's net profit for the fourth quarter ended March 31, 2009, dipped

May 2, 2009: The world's largest steel producer ArcelorMittal has shelved its plans

April 30, 2009: Anglo American lowered its production in the quarter ended March 31, 2009 against the previous quarter. Demand for Eskom coal was down and this prompted a 10.9 percent decrease in output from the previous quarter.

April 30, 2009: Hyderabad-based Pennar Industries Ltd - engaged in the production of cold-rolled steel strips, metal profiles and engineering components - registered a net profit of Rs 10.18 crore for the quarter ended March 31, 2009.

April 30, 2009: Mumbai-based Montage Capital Markets Ltd, a corporate finance and financial advisory company, is exploring investment opportunities in the steel and manufacturing sectors.

April 30, 2009: Madras High Court has permitted Kolkata-based Fairdeal Supplies to remove the movable properties from SIV Industries, which is under liquidation.

April 30, 2009: ArcelorMittal, the world's biggest steel manufacturing company, is finding India a difficult country to work in.

April 29, 2009: Alleging the government of distorting competition in the steel sector, a CCI-sponsored study has suggested the competition watchdog should investigate the HR coil industry, which is dominated by a few top producers.

April 29, 2009: Bucking the global trend, India's steel consumption is likely to rise by nearly 2 per cent to 53.5 million tonnes in 2009, the World Steel Association has said.

April 28, 2009: The government is considering levying a safeguard duty of 25 percent on key steel products imported from countries like China and Japan to protect the domestic industry against damages from cheap arrivals.

April 28, 2009: Kudremukh Iron Ore Company Ltd (KIOCL) has floated a tender for a partner for its new venture.

April 28, 2009: Mining companies which export iron ore to China are reluctant to set a benchmark price for the entire year by getting into annual contracts.

April 28, 2009: There has been a steady improvement in the long products market over the past month in the domestic market. However, the flats market has been a laggard in both domestic and international market.

April 28, 2009: World Steel Association (worldsteel) expects a fall of 14.9 percent to 1,018.6 million tons (mt) in apparent steel use worldwide in 2009. Usage had dropped 1.4 percent, or 1,197 mt, in 2008.

April 28, 2009: Neeraj Singal-led Bhushan Group's open offer for Bhubaneswar-based Orissa Sponge Iron & Steel has got delayed as the Securities & Exchange Board of India (Sebi) is yet to approve the offer.

April 28, 2009: The government plans to allot natural gas from Reliance Industries' Krishna Godavari (KG) basin to steel companies affected by the shortage of the commodity.

April 27, 2009: Steel major Jindal Stainless is planning to ask its overseas bond-holders for rescheduling the outstanding amount on its foreign currency convertible bonds (FCCBs) that is due in December, as it expects repayment of the bonds to be a challenge.

April 26, 2009: The government is considering levying a safeguard duty of 25 per cent on key steel products imported from countries like China and Japan to protect the domestic industry against damages from cheap arrivals.

April 26, 2008:India's Jindal Steel and Power expects to start producing gas in Bolivia in June for export to Argentina, company representatives told the Andean nation's president here.

April 25, 2009: Maharashtra Seamless has said its net profit in the quarter ended March 31 grew 19.57 percent to Rs 64.63 crore over the same period a year ago.

April 25, 2009: Mumbai-based steel maker Uttam Galva plans to invest Rs 400 crore in enhancing capacity of its service centre and adding a new product mix over the next year.

April 23, 2009: JSW Steel is expecting up to 60 percent increase in sales volume in 2009-10 and plans to invest Rs 3,000 crore in expanding steel capacity and developing coal mines.

April 22, 2009: Sesa Goa, India's largest iron ore exporter, is exploring options of bidding for the controlling stake in an iron ore mine that has been put on the block by Brazil's mining exploration company GME4.

April 21, 2009: ArcelorMittal, the world's largest steelmaker, may cut the size of a planned steel plant in India by half and indefinitely defer a second facility as the global recession curbs sales of cars and homes, a company official has said.

April 21, 2009: Tata Steel and Canadian mining company New Millennium propose to start production from one of their iron ore joint ventures (JV) in Canada from the second quarter of 2011.

April 21, 2009: The reprieve for domestic steel majors such as SAIL, Tata Steel and the Jindals may be shortlived.

April 20, 2009: Welspun Gujarat Stahl Rohren Ltd. announced the de-merger of its Plate-cum-Coil mill into a 100 percent subsidiary today.

April 20, 2009: Bhushan Steel has informally approached the West Bengal Industrial Development Corporation (WBIDC) for an additional 1,000 acres in West Bengal, in the wake of negotiations with Sumitomo Metal Industries (SMI) for participation in its steel project.

April 19, 2009: The steel and cement sectors are recovering on the back of demand from the small constructions, but price of steel in the coming months is expected to remain stable at the current rates, said S.K. Roongta, Chairman, Steel Authority of India Ltd (SAIL).

April 18, 2009: The good times for India's iron ore exporters seem to have been short-lived.

April 17, 2009: The fate of ArcelorMittal's greenfield steel project in Orissa hangs in the balance, with the world's largest steelmaker delaying payment to the state for 1,500 acres meant to house the facility.

April 17, 2009: The battle for control of the resource-rich Orissa Sponge Iron & Steel may intensify, with the Securities & Exchange Board of India (Sebi) allowing Bhushan Steel, one of the three contenders, to go ahead with its open offer for the Bhubaneswar-based company.

April 17, 2009: The Liberian government has cleared Tata Steel of financial wrong-doing, clearing the way for the Indian firm to bid for a $1.5 billion iron ore project in the West African country.

April 17, 2009: The steel industry staged a smart recovery in the three months to March end on account of a revival in demand from the automobile, rural infrastructure and housing sectors.

April 16, 2009: The economic think-tank, Centre for Monitoring Indian Economy (CMIE), has said demand for steel has improved and the trend will continue in the present financial year.

April 16, 2009: State-run Steel Authority of India posted a 4 percent rise in sales volume in March from a year earlier, according to steel secretary Pramod Kumar Rastogi.

April 16, 2009: ArcelorMittal, the world's biggest steel group, may delay its planned $20 to $25 billion investment in India by at least two years from an earlier schedule.

April 16, 2009: Amid a sharp decline in steel demand due to the global economic slowdown, steel giant ArcelorMittal may half the size and slash its investment for the first phase of its Rs 1,00,000-crore projects in India.

April 16, 2009: India's steel industry is looking up, with input prices crashing.

April 15, 2009: China is expected to breach the 20.2-million ton (mt) mark, set in 2008, for ship plate production this year.

April 15, 2009: There is not much buying interest for plate in Southeast Asia.

April 14, 2009: JSW Steel intends to set up a hot rolled mill in Vijayanagar entailing an investment of Rs 2,000 crore.

April 14, 2009: The Supreme Court has set aside the Orissa High Court order asking the Securities & Exchange Board of India (Sebi) to investigate if the Neeraj Singhal-led Bhushan group had violated takeover norms while buying a stake in Orissa Sponge Iron & Steel Ltd (OSIL).

April 14, 2009: Delhi-based Bhushan Steel has increased the production capacity of its integrated steel plant based in Orissa five times to 2.5 million ton (mt).

April 14, 2009: Japan's Sumitomo Metal Industries may build a blast furnace steel plant in India with mid-tier producer Bhushan Steel, investing as much as $3 billion.

April 13, 2009: Tata Steel Ltd is in talks with group company Tata Motors Ltd for supply of steel for the prestigious Rs 1-lakh Nano, which was launched recently.

April 13, 2009: Tata Steel Ltd, the world's sixth largest producer of steel, feels that despite some early steps taken by the management to tide over severe recession in the second half of 2008-09, capacity utilisation at Corus plants in Europe is likely to fall in 2009-10.

April 13, 2009: A revival in steel demand and prices throughout the world is likely from the third quarter of the current financial year, according to Tata Steel Ltd managing director B. Muthuraman.

April 13, 2009: HR sheets (of 5 to 10 mm thickness) are currently available at Rs 29,500 per ton basic from SAIL on direct despatch.

April 13, 2009: Domestic market prices of angles and channels from 50 to 110 mm have risen Rs 2 to 3 per kg due to shortage conditions. This is sending both good and bad signals to the market.

April 13, 2009: Availability of 500 and 600 mm beams have reduced substantially in the Indian market.

April 13, 2009: India's largest private steel maker Tata Steel relied heavily on government-funded projects and the Indian Railways, in the face of a demand downturn, to boost steel sales in the last quarter of 2008-09.

April 13, 2009: The Visakhapatnam Steel Plant (VSP) commissioned the 4th coke oven battery by charging coal into the oven on 11th April, 2009.

April 13, 2009: Hundreds of steelworkers in Illinois, the home state of US President Barack Obama, have protested against the use of India-made steel in an oil pipeline project connecting the US region with Canada.

April 11, 2009: Ratan Jindal led JSL formerly known as Jindal Stainless is planning to make Indonesia a manufacturing hub to supply stainless steel products in the South-East Asian region, informed a top company executive.

April 11, 2009: In a bid to tide over recession Tata Steel is targeting £1 billion in cost savings at its UK subsidiary, Corus, during FY10. The company has already managed to save some £650 million up to March 2009.

April 11, 2009: Tata Steel said it will begin production at Sedibang mine in South Africa from next year.

April 11, 2009: The first phase of the 6 million ton integrated steel complex of Essar Steel at Paradip in Orissa is likely to be commissioned by March 2010.

April 10, 2009: Tata Steel has negotiated coking coal contracts for 2009-10 at $129 per ton fob.

April 10, 2009: With the commissioning of a Rs 250-crore plant to produce steel sheets in Agartala, Dharampal Premchand (DP) Ltd, has diversified into steel production. It is also the group's first steel unit in Tripura.

April 10, 2009: Driven by a revival in demand from the auto and railway sectors, the country's per capita stainless steel consumption is likely to double in two-three years.

April 9, 2009: A trader in the Kolkata market made a recent deal for 100 tons packeted 3.15 x 1,250 x 2,500 mm hot rolled sheet at Rs 30.50 per kg, inclusive of excise duty.

April 9, 2009: ArcelorMittal, the largest steel maker in the world, has evinced interest to set up a captive port at Barunei Muhan to the north of Mahanadi river near Paradip in Orissa.

April 9, 2009: The Supreme Court has dismissed Bellary Steels & Alloys Ltd's plea, challenging market regulator Sebi's order that debarred it from the securities market for five years.

April 9, 2009: India may abolish a 5 percent import tax on iron and steel after the April and May elections, a newspaper has cited anonymous official sources as saying.

April 9, 2009: The Buddhadeb Bhattacharjee government and Coal India Ltd (CIL) have reached an agreement that will pave the way for relocation of four big ticket projects.

April 8, 2009: There was nearly 50 percent reduction in March crude steel production in Germany from the previous corresponding period.

April 8, 2009: There was weakness in the domestic and export markets for commercial plate in China in April due to a lack of demand.

April 8, 2009: Northern Italy has seen a spurt in long product prices in the past two weeks.

April 8, 2009: Bhushan Steel sees a revival in demand in the near term, according to managing director Neeraj Singal.

April 8, 2009: The Ruias-led Essar Steel plans to start the first phase of production from its proposed $1.1-billion steel plant at Minnesota in the US by 2011, company sources said.

April 8, 2009: Ratan Jindal-led JSL (formerly known as Jindal Stainless) is planning to raise Rs 500 crore through various routes - including a rights issue or issuance of global depository receipts (GDRs) - to fund its upcoming Rs 5,700-crore stainless steel project in Orissa, said a top executive of the company.

April 7, 2009: Prime producers are planning to maintain the steel price at the same level in the first half of 2009-10 if international prices and import duties do not undergo any major change.

April 7, 2009: The end user industry of high grade stainless steel in the country - currently importing for their respective industries - has strongly protested against the proposed levying of anti-dumping duty on import of stainless steel.

April 7, 2009: Bhubaneswar-based steel firm Orissa Sponge Iron & Steel (OSIL), the takeover target of three separate groups, continues to face corporate governance issues.

April 7, 2009: Tata Steel ended 2008-09 with an 11 percent jump in saleable steel production to 5.3 million tons (mt), against 4.8 mt in the previous corresponding period.

April 6, 2009: A Kolkata-based trader offered plates (5 to 10 mm) at Rs 31.50 per kg inclusive of excise duty 10 percent and VAT.

April 6, 2009: There have been spot deals for angle and channels at Rs 27.5 per kg basic this week.

April 6, 2009: Foundry grade pig iron is being sold at Rs 16,500 per ton basic and steel grade is being sold at Rs 15,500 per ton basic currently in the Kolkata market.

April 6, 2009: JSW Steel Ltd, India's No. 3 producer of the alloy, has said its crude steel output in the January-March quarter rose 11 percent to 1.1 million tons (mt) while long products grew by half to 0.13 mt.

April 5, 2009: Leaving rivals in public and private sector gasping for breath, Tata Steel has stolen the show by registering a 12.6 per cent growth rate in production during the fiscal that just ended.

April 4, 2009: Indian ferro alloys producers have raised their capacity utilisation in a major way since the second fortnight of February on a revival in demand for steel, which started in the fourth quarter of the last financial year.

April 4, 2009: Hinduja Group flagship firm Ashok Leyland on Friday reported a fall of 52.2 per cent in commercial vehicle sales at 5,112 units in March this year compared to same month in 2008.

April 3, 2009: There has been an increase in scrap import prices of east Asia.

April 2, 2009: Tata Steel, which completed its centenary in 2007, will achieve another milestone when its mining division in Jharia completes a 100 years of operations on April 4.

April 2, 2009: NMDC Limited has exhibited commendable performance during 2008-09 by achieving a production level of 29 million tons.

April 2, 2009: As per some rough estimates Rashtriya Ispat Nigam Limited (RINL) held Vizag Steel Plant (VSP) has recorded a sales turnover of Rs 10,440 crores for the year 2008-09.

April 1, 2009: Country's largest steel producer Steel Authority of India (SAIL) will produce 12 million tons (mt) of saleable steel during 2009-10.

April 1, 2009: Just days before the G-20 summit in London, the commerce ministry has recommended anti-dumping duty on cold-rolled stainless steel originating in eight countries, including China.

March 31, 2009: Spot trading in medium and higher grade iron ore between India and China has been slow over the past couple of weeks as prices too have kept low.

March 31, 2009: Chinese major Baosteel has drawn out of the race for iron ore in the domestic market.

March 31, 2009: China may soon impose a 13 percent tax rebate on cold rolled and hot dip galvanised sheet and strip exports. However, this is not expected to make much of a difference to the already weak east Asian import markets.

March 31, 2009: State-owned mining giant NMDC would soon join hands with South Africa's Kopanao Ke Metla Investment Company for acquiring coal, iron ore and manganese properties in African nations.

March 31, 2009: It marks a distinct shift in bargaining power, perhaps for the first time in years. With barely a day to go for annual price contracts for FY10, domestic steelmakers -- SAIL, JSW Steel and Ispat -- are gearing up for intense negotiations to induce price cuts of 40 to 70 percent on key raw materials, such as iron ore and coking coal.

March 31, 2009: With the aim of promoting new technology in the sponge iron plants to reduce carbon emission and ensure optimum use of the resources in the production process, the Orissa government plans to promote a sponge iron cluster at Bonai in Sundergarh district.

March 30, 2009: Steel makers such as SAIL, Tata Steel and JSW Steel are witnessing a revival of demand in the country following improved consumption from sectors such as construction and automobile.

March 29, 2009: Lakshmi N Mittal has threatened to stop work on the Rs 18,919-crore oil refinery project at Bhatinda in Punjab unless the state government restored fiscal incentives it had taken away a few years ago.

March 29, 2009: Domestic steel companies are likely to enter into a pricing war as input costs have come down significantly and demand could peter out after the elections.

March 29, 2009: Titagarh Wagons (TWL) has decided to merge Titagarh Steel (TSL), an associate and listed company, with itself.

March 28, 2009: Baoshan Iron and Steel Co, announced that it has planned crude steel production of 24.9 million tons in 2009 compared to 26 million tons- the current annual capacity.

March 28, 2009: SAIL expects to clock up to 10 percent more sales in the present month compared to the year-ago period on improved demand from sectors like construction and automobile.

March 28, 2009: If the performance of the steel and cement industries is any indication, a nascent recovery in economic activity seems under way.

March 27, 2009: Shipping Corporation of India (SCI) has said it is actively considering its plans to enter into a joint venture with steel major SAIL. But, there is no timeline available by which the joint venture will be firmed up.

March 27, 2009: India's largest steelmakers are operating at full capacity after a five-month lull that saw them cutting production, raising hopes that an economic recovery may be just round the corner.

March 26, 2009: China has still no presence in the strips market while prices have been dropping for imports into southern Europe.

March 26, 2009: A slump in the shipbuilding and machinery production industries has led to almost zero demand for plates in Turkey.

March 26, 2009: ArcelorMittal Poland has indefinitely postponed renovation of the closed blast furnace No. 3 at its Krakow plant.

March 26, 2009: The billet imports market in Southeast Asia has seen offer prices rising from last week, even as the number of offers decrease.

March 26, 2009: The Orissa High Court has directed the state to communicate its decision on the application of Kudremukh Iron Ore Company Ltd (KIOCL), seeking grant of prospecting licence (PL) for Khandadhar mines in Sundergarh district.

March 26, 2009: Iron ore, the prime raw material for making steel, could see a further decline in prices. While steel demand has fallen heavily, iron ore prices - which more than doubled last year - remain vulnerable to a decline.

March 26, 2009: ArcelorMittal has raised 1.1 billion euro (about $1.5 billion) through issue of convertible bonds, a move which will help in strengthening the company's liquidity position.

March 25, 2009: JSW Steel has opened one exclusive steel retail outlet in Hyderabad and three such showrooms in West Bengal in association with its authorised distributors.

March 25, 2009: Exports of non alloy pig iron from the different ports of Brazil have dropped by about 32.3 percent during January 2009 as compared to January 2008 revealed data in the recent Tex Report.

March 25, 2009: The Orissa High Court has directed market regulator Securities & Exchange Board of India (Sebi) to investigate whether companies belonging to the Bhushan Steel Group had purchased shares of Orissa Sponge Iron & Steel from the market and whether there has been any violation of Sebi's takeover regulations in such transactions.

March 25, 2009: Welspun Power and Steel, a Welspun Group company, has raised Rs 700 crore debt from a consortium of 20 domestic banks to part finance its Rs 1,030-crore acquisition of Vikram Ispat from Grasim Industries.

March 24, 2009: Corus has more cost-cutting measures on the cards.

March 24, 2009: Rebar exports from Turkey are now selling at a higher price due to better scrap realisations.

March 24, 2009: Metal prices have come off from their highs of 2008 and are now down about 50 percent.

March 22, 2009: ArcelorMittal, expects steel markets in North America and Brazil to start recovering from the current fall in the second quarter.

March 22, 2009: Global research firm Macquaire has said demand for steel in India remains better placed than many other countries. However there would be pressure on margins.

March 22, 2009: Essar Steel has set up a steel processing facility, of 2.5 lakh tons per annum capacity, close to the manufacturing unit of one of its largest customers - Hyundai motor India - at Oragadam near Chennai.

March 20, 2009: The world crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 84 million tons (mt) in February 2009 down by 22 percent from the figures in February 2008.

March 20, 2009: Usiminas has decided to postpone discussions on equipment for its new 5 million tons per annum slab plant.

March 20, 2009: A lack of demand in the Middle East has stopped expansion work at steel projects.

March 20, 2009: Ramsarup Industries bagged orders worth Rs 164 crore for the Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) electrification work from the West Bengal State Electricity Distribution Co.

March 19, 2009: KIOCL expects to finalise its draft tender document for seeking expression of interest from interested parties to set up a mini steel plant in Karnataka this week.

March 19, 2009: US scrap prices have maintained their downwards trend and April's prices are expected to be below the baseline used by electric furnace mills to establish raw material surcharges.

March 19, 2009: KIOCL Ltd is set to end the fourth quarter of this fiscal with a loss of approximately Rs 25 to 30 crore due to lower demand for iron ore pellets from steel makers.

March 19, 2009: Prices for commercial plate have risen RMB 20 - 30 per ton in China in this week.

March 19, 2009: ArcelorMittal has shut down one of its Spanish mini mills temporarily and indefinitely as a result of the weak market.

March 19, 2009: Bhilai Steel Plant (BSP) is adding to its railway facilities to meet the additional requirement to be thrown up by the projected increase in rail-borne traffic by 2011-12 when the capacity expansion programme, currently in progress, is expected to be complete.

March 19, 2009: China Iron & Steel Association (CISA) has predicted that Chinese steel exports will decrease 80 percent year-on-year in 2009.

March 19, 2009: The Bolivian government has given approval to Jindal Steel & Power (JSPL) for its El Mútun iron ore and steel project.

March 19, 2009: Operators in the mining and metals industry have enjoyed an unprecedented boom over the past decade as China, India and other rapidly-developing economies sought to modernise their infrastructure and a rising middle class was able to afford cars and other metals intensive goods for the first time.

March 18, 2009: Essar Steel has denied having sold hot rolled coil at a discount, as traders had reported.

March 18, 2009: Confidence is running low in the east Asian steel market, which is unable to stabilise due to price volatility.

March 18, 2009: Chinese traders have recently bought Russian re-rolling hot rolled coil (HRC) at $385 to $400 per ton cfr.

March 18, 2009: JSW Steel, India's third-biggest steel producer, would set up 600 outlets to supply steel in rural areas, according to JSW vice-chairman and managing director Sajjan Jindal.

March 18, 2009: The last couple of months have brought some relief to steel manufacturers in India, thanks to higher sales volume. However, one shouldn't read much into it as demand revival may not be just around the corner.

March 17, 2009: Around 2,000 contract workers at the Durgapur Steel Plant (DSP), a unit of Steel Authority of India (SAIL), have disrupted normal work.

March 16, 2009: Steel scrap prices once again nosedived - after a slight revival - with demand weakening at various locations. The month ended on negative sentiment, indicating a further downtrend in the future.

March 16, 2009: The domestic steel market was again depressed in the third week of February after a slight improvement in prices till the second week. Sentiment remained low over a week as demand remained sluggish.

March 16, 2009: The flat products market remained stable at the beginning of the month. The price of IS2062 2.0 mm hot rolled coil (HRC) prevailed at around Rs 28,000 per ton basic and demand did not rebound or fall much.

March 16, 2009: The international long products market has been in doldrums this February. After showing some signs of strength in December 2008 and January 2009, the market fell pretty fast in February.

March 16, 2009: There is no doubt about the fact that the world is witnessing one of the worst recessions in recent times. The entire world is trying their level best to come out with some plans and policies to avoid a scenario which could turn out to be even worse than the Great Depression of the 1930s.

March 16, 2009: The steel sector is limping back to normalcy, with sales and despatches in February significantly better than the previous month, leading some producers to revisit expansion plans.

March 15, 2009: The Vietnam Steel Association (VSA) plans to ask the government there to increase import tax on billets and long products.

March 15, 2009: Although US steel prices have very nearly bottomed out, it seems improbable that demand will resume until the second half of 2009.

March 15, 2009: Ilyich Iron & Steel Works has called for an open price calculation of iron ore and coking coal during the steel market slump.

March 15, 2009: Peru exported 4,30,000 tons iron ore in January, a decrease of 35.8 percent against the same month last year.

March 15, 2009: China Shipping Haisheng Co and Hainan Mining Co have forged a shipping contract for transportation of iron ore.

March 14, 2009: Ship plate price shave been decreasing steadily since the middle of February and some offers have already fallen below production costs.

March 14, 2009: Russia's Severstal group is operating two out of four blast furnaces at its Cherepovets steelworks.

March 14, 2009: Shredded scrap in Brazil is selling at an average price 16 percent lower than recent months.

March 13, 2009: Lower consumption in the Middle East has pulled down Turkish billet exports to 131,660 tons in February, against 233,823 tons in the same month, last year. The figure was 135,438 tons in January 2009.

March 13, 2009: ArcelorMittal Spain is undecided on whether to idle one of its two blast furnaces in Gijon, Spain.

March 13, 2009: Production is expected to stay low at ArcelorMittal's cold rolling and coating plant in Piombino, Italy even in the second quarter.

March 13, 2009: Indian 2 mm commercial grade hot rolled coils (HRC) are selling at an average Rs 31,700 per ton ($611 per ton).

March 13, 2009: Domestic steel demand is likely to recover by the first quarter of the next fiscal on the back of a rise in construction activity pushed by the stimulus packages announced by the government, according to a research firm.

March 12, 2009: World crude steel production for the 66 countries reporting to the World Steel Association (Worldsteel) was 86 million tons (mt) in January. This was 24 percent lower than the same month last year. All major steel producing countries showed a two-digit decrease in crude steel production in the first month of 2009, compared to January 2008, except China.

March 12, 2009: Tata Steel has said the production cut at its UK subsidiary, Corus, continues to be around 40 percent. Speaking at the sidelines of CII annual regional meeting, Tata Steel group chief financial officer Koushik Chatterjee confirmed that the production cut continues to be around 40 percent.

March 10, 2009: Rashtriya Ispat Nigam (RINL) is going ahead with expansion of its melting capacity to 6.3 million tons per annum (mtpa), from the current 3 mtpa, by the middle of 2011.

March 10, 2009: Wheels India Ltd, the Rs 1,140-crore TVS group company, is entering the power sector. It wants to make "steel structural components" for power plants; specially made steel products such as girders, columns and beams that support a boiler.

March 10, 2009: Home minister P. Chidambaram has laid the foundation stone for a Rs 750-crore alloy steel plant, promoted by Sundareshwarar Alloy & Stainless Steel Ltd, at Seyanoor, near Manamadurai in Sivaganga district.

March 10, 2009: Dhruvdesh Metasteel Pvt Ltd - Bangalore-based manufacturer of sponge iron - is embarking on both forward and backward integration projects to manufacture finished steel products and double its existing capacity to 60,000 tons per annum at an investment of Rs 120 crore.

March 9, 2009: The US operations of ArcelorMittal has plans to idle its Cleveland integrated steelworks indefinitely. This is part of the group's efforts to lower global production by 45 percent due to market conditions.

March 9, 2009: Wuhan Iron & Steel (Wugang) has decided to cut its hot rolled coil (HRC) ex-works prices for April by RMB 50 to 200 per ton ($7-29 per ton).

March 8, 2009: Steel maker ArcelorMittal plans to suspend operations at its Cleveland site in early May amid a declining market for steel and lay off about 700 more workers for an indefinite length of time, a local union official said.

March 8, 2009: The Centre for Monitoring Indian Economy (CMIE) has said that steel prices would remain weak domestically in 2009-10 but the output of the alloy would grow by 6.5 percent during the period.

March 8, 2009: Tata Metaliks Ltd (TML) has shelved the Rs 800-crore diversification plan of its pig iron unit at Kharagpur in West Bengal.

March 8, 2009: Tata Metaliks Kubota Pipes Ltd (TMKPL), a 51:44:5 joint venture between Tata Metaliks Ltd (TML), Japan's Kubota Corporation and Metal One Corporation, expects to start production of ductile iron pipes (DI pipes) in the Kharagpur plant from April, according to Rajesh Mishra, Chief Executive Officer of the company.

March 7, 2009: Tata Steel said that it has posted a 47 percent rise in sales at 5.84 lakh tons in February 2009, compared with 3.97 lakh tons logged during the corresponding month in 2008.

March 7, 2009: The Jindals have decided to put off construction work at Salboni in West Midnapore by a year.

March 6, 2009: Small and medium industries in Orissa have sought reduction in licensing fee for the storage of raw materials, reduction of value added tax (VAT) on items like tyres and bringing in uniformity in the rate of entry tax.

March 6, 2009: The promoter of Orissa Sponge -- the takeover target of three steel firms -- is now caught in another controversy.

March 5, 2009: Finished steel imports surged 60 percent to 5.1 lakh tons in January, from 3.2 lakh tons in December due to the high demand from the auto and construction sectors, according to latest data released by the Steel Ministry.

March 4, 2009: Rashtriya Ispat Nigam (RINL) has recorded a sales turnover of Rs 9,202 crore for April 2008 to February 2009 in the backdrop of the global economic crisis. This is an increase of 4 percent over the previous corresponding period.

March 4, 2009: Tata Steel managing director B. Muthuraman still feels the $12-billion acquisition of Corus was a good deal, despite the fact that its poor performance is pulling overall profit down.

March 4, 2009: The race for control of Orissa Sponge Iron is heating up.

March 4, 2009: Siemens VAI Metals Technologies has received an order from Steel Authority of India (SAIL) for a new LD converter steel mill, which will be built at the company's Bhilai Steel Plant.

March 3, 2009: The price of Egyptian rebar has been lowered by producers by EGP 350 per ton, effective from 1 March, in the face of competition in times of the slowdown.

March 3, 2009: JSW Bengal Steel may take a second call on the products it plans to market. The company is setting up a 10-million tons per annum integrated steelworks in Salboni.

March 3, 2009: Steel sales appear to have bounced back in February, capping marginal but steady volume growth witnessed on a month-on-month basis since December 2008.

March 3, 2009: Iron ore export prices have decreased up to 12 percent due to a drop in demand from China, which consumes almost half of domestic ore shipments.

March 2, 2009: The Orissa government has completed the hearing for the Malda iron ore mines, for issue of a prospecting license (PL) over an area of about 350 hectares in Sundergarh district. The hearing for this block of iron ore had started in October 2008.

March 2, 2009: The government is planning stricter norms for import of steel scrap. The Directorate General of Foreign Trade, nodal agency for foreign trade matters, is expected to issue a notification this week that will make it mandatory for importers to furnish proof that imported consignments have no traces of radioactivity.

March 2, 2009: Demand has still not risen enough for Tata Steel to restart its Corus unit's idle capacity.

March 2, 2009: There has been an interesting turn in the three-way takeover battle for control of Orissa Sponge Iron, with the various parties involved trading charges of violation of takeover norms.

March 1, 2009: Rio Tinto Group has informed that a storm has halted operations at three of its mines in Pilbara district of Western Australia.

March 1, 2009: Indian steel demand is likely to grow by 5 percent in 2009, while prices are likely to remain stable stated a top official with Tata Steel recently.

March 1, 2009: Even as the three-way takeover battle for control of Orissa Sponge Iron is warming up, the board of directors of Orissa Sponge has decided to co-opt Monnet Ispat as a strategic partner.

February 28, 2009: Steel minister Ram Vilas Paswan has launched the project for rebuilding erstwhile Malvika Steel at Jagdishpur Industrial Area of Uttar Pradesh. The steel plant has now been taken over by SAIL.

February 28,2009: Tata Steel, posted a 44 percent fall in its net profit to Rs 732.21 crore on a consolidated basis for the quarter ended December 2008, owing to high raw material costs, inventory build-up and a foreign exchange loss of Rs 200 crore.

February 27, 2009: Delhi-based Surya Roshni (SRL) is planning an entry into the cement sector and expansion of its steel making business.

February 27, 2009: Jindal Stainless may supply steel to Bombardier Transportation for metro coach bodies.

February 27, 2009: Recently, a Mumbai-based steelmaker's consignment of stainless steel bars was detected with radioactive contamination. Overseas clients of major players here are reportedly seeking in-depth details on the material procurement and processing methodology, besides the precautions taken to ensure that contaminated steel does not land up at their doorstep.

February 27, 2009: The proposed capacity expansion of Bhilai Steel Plant (BSP) to 7.5 million tons (mt) of hot metal (5.27 mt in 2007-08) annually may not be complete within the scheduled 2010-11 period.

February 27, 2009: The joint venture (JV) formed between SAIL's Bhilai Steel Plant (BSP) and Jaypee Cement for a slag cement plant is likely to start production by the end of this year. The JV company is called Bhilai Jaypee Cement Limited and is loacted in Bhilai itself.

February 27, 2009: More and more ship-breaking activity at Alang may result in a decrease in steel prices.

February 26, 2009: KIOCL Ltd has decided to set up a ductile iron spun pipe (DISP) plant beside its blast furnace in Baikampady industrial area.

February 26, 2009: Steelmakers plan to trim prices by about Rs 600 per ton, following the 2 percent cut in excise duties. However, that's unlikely to result in a spurt in orders from the real estate or automobile players, though players in the infrastructure space may be willing to buy more.

February 26, 2009: Chennai-based Sical Logistics has formed a special purpose vehicle (SPV) -- Sical Iron Ore Terminals Ltd -- with MMTC Ltd to set up an iron ore terminal at Ennore port.

February 26, 2009: Monnet Ispat group has made an open offer for 20 percent at Rs 310 per share, after having acquired 27 percent in Orissa Sponge Iron from promoter P.K. Mohanty at Rs 283 per share.

February 26, 2009: Welspun Gujarat Stahl Rohren announced that it had received orders for steel plates worth Rs 5 billion, taking its order book to Rs 93 billion.

February 25, 2009: The US recorded imports of a total of 2,343,000 net tons (NT) of steel, up by 13 percent in January 2009 against the December final data. This includes imports of 2,134,000 NT of finished steel, up by 15 percent.

February 25, 2009: Welspun Gujarat Stahl Rohren Ltd. (WGSRL) has shutdown its plate mill at Anjar for 45 days to implement the 1.5 million ton Stackel coil mill which is a part of the backward integration project to improve the company's internal flexibility to produce in-house high grade coils.

February 25, 2009: Things are improving this quarter for Goa's iron ore export industry, which was badly hit due to global recession between September and December.

February 25, 2009: Delhi-based Monnet Ispat & Power has now joined the race to acquire Orissa Sponge Iron & Steel by acquiring 27 percent in the company.

February 25, 2009: The economic slump has claimed another victim in ArcelorMittal, whose India projects are expected to be delayed.

February 25, 2009: ArcelorMittal has decided to "curtail merger and acquisition (M&A) activity" as a fallout of the global economic slowdown.

February 25, 2009: Steel prices are expected to dip Rs 500 to 600 per ton after the government reduced excise duty by 2 percent.

February 24, 2009: Corus plans to relocate its panels and profiles line from its Ammanford site to Shotton in North Wales.

February 24, 2009: China is considering starting new export rebates on steel products or raising them.

February 24, 2009: Bearish sentiments have kept buying activity at a minimum for hot rolled coil (HRC) into Southeast Asia, at a rate of $430 to $440 per ton cfr.

February 24, 2009: The downward trend continued for US raw steel production last week and dropped below the 1 million short tons (mst) per week mark. This is almost half the normal rate of output.

February 24, 2009: The IISCO Steel Plant (ISP) is increasingly turning to buyjunction, an arm of mjunction services, for their vendor base needs. Looking to increase their quality vendor base, ISP is using buyjunction as their existing vendor base could not meet all their needs and there was a distinct need for improvement.

February 24, 2009: There is a big impending changeover at the Burnpur works of ISP, while they shift from the twin hearth ingot making route to the basic oxygen furnace and continuous casting route (BOF CCS) of steel production.

February 24, 2009: The entire steel plant at Burnpur which is currently operating would be sold as scrap in another two years' time, when the new plant with a capacity of 2.5 million tons per annum starts to function.

By Arnab Mallick

February 24, 2009: The global steel market has been pretty eventful during the first month of the year which has emerged as one of the most crucial years in recent history. After witnessing a global meltdown, everyone and particularly the steel sector is keeping their fingers crossed and closely observing the market.

February 24, 2009: Russia is now exporting coils at $30 to $40 per ton less than what it offered 10 days ago.

February 23, 2009: Iron ore demand has not shown any signs of recovery other than in China stated Vale's finance director Fábio Barbosa as reported by Steel Business Briefing.

February 23, 2009: The economic slowdown has led to a 24 percent lower production of crude steel in January, at 86 million tons (mt), for the world.

February 22, 2009: The fourth quarter has seen Severstal making a near 50 percent cut in crude steel production in Russia, at 1.7 million tons (mt), compared to the third quarter.

February 22, 2009: Steel Authority of India's (SAIL) expansion and modernisation programme is well on track.

February 22, 2009: Corus Distribution Europe has started a joint venture steel service centre in Thessalonica, Greece, along with steel distributor and processor Elastron.

February 21, 2009: Amidst the existing global situation wherein almost all the steel companies across the world are taking a back foot, it seems that Jai Balaji is striding fast. After acquiring the land in Purulia, Jai Balaji inaugured it's 0.45 million ton alloy and stainless steel division in Banspoka, Durgapur today.

February 21, 2009: Sesa Goa's revenues have slowed down considerably. Iron ore manufacturers are naturally under pressure as major steel producers cut back production due to the fall in demand.

February 21, 2009: Brazilian long products producer Gerdau has managed to offset the lower prices of rolled steel with the help of cheaper sources of scrap.

February 21, 2009: China has no presence currently in the south European markets, though Australia, South America, some Mediterranean countries, Thailand and other Far Eastern countries have conveyed offers.

February 21, 2009: JSW Steel is seeking 66 percent lower rates for coking coal from global suppliers, at $100 per ton, in an effort to ease input cost pressures.

February 20, 2009: China has decided to bring its steel production down 8 percent from last year and limit it at 490 million tons (mt) in 2009. This is against an output of 500 in 2008, of which more than 10 percent was exported.

February 20, 2009: The Japanese market for commodity grade heavy plates is being affected by a lack of demand and increasing distributor inventories.

February 20, 2009: Vale has signed a contract with Shanghai Zhenhua Port Machinery Co (ZPMC), a leading Chinese machinery producer, for supplying nine bulk materials handling machines.

February 20, 2009: Minister for steel Ram Vilas Paswan has said that import duty on steel could still be increased through a notification. The industry, which has been badly hit by the recession, has been demanding protection from imports.

February 20, 2009: Offers for CIS-produced billet are maintaining their downward movement from levels of $380 to $390 per ton fob Black/Baltic Sea two weeks ago, when buyers were ready to pay $20 per ton less.

February 19, 2009: The China Iron & Steel Association (CISA) has approved the measures which strictly control imports of iron ore, with large mills organising shipments on an FOB basis with one-year contracts starting on 1 January.

February 20, 2009: The iron ore rich, Bellary-Hospet region of Karnataka has witnessed the forcible closure of more than 20 iron ore mines in the past 10 days by the Indian government

February 20, 2009: After acquiring Algoma Steel in 2007, diversified Essar Group may make further investments in Canada across several areas.

February 19, 2009: Essar Steel Algoma Inc, a part of Essar Steel and, based out of Canada, has started a new emission control system (Bag House) at a cost of $25 million. The step has been taken with a view to reduce net particulate emissions.

By Nudrat Alim

February 19, 2009: The Chinese market is back in action after a relatively silent January.

By Nudrat Alim

February 19, 2009: The ferrous scrap market is once again at the mercy of the buyers, thanks to sporadic demand. Although it was being felt that the market is on the verge of gaining some degree of stability, and the initial effect of the economic downturn would somehow fade away, the absence of buyers from the market has put all these notions to rest.

By Rajkumar Mitra & Arusha Das

February 19, 2009: The upcoming Steel Authority of India (SAIL) and Bharat Refractories Limited (BRL) amalgamation could give rise to a monopoly situation for BRL with respect to SAIL, but only if BRL expands capacity. With its present capacity, however, there is no question of any kind of monopolistic situation arising, industry insiders feel.

February 19, 2009: NMDC is considering acquiring iron ore mines in Africa.

February 19, 2009: Jindal Steel & Power (JSPL) is likely to get the first shipment of crushing equipment this week for its major iron ore project, El Mutún, in eastern Bolivia.

February 18, 2009: A slow purchase scenario has led to a continuous fall in the price of billet in China.

February 18, 2009: Both General Motors and Chrysler have said that they would need an additional $14 billion as aid from the federal government to remain solvent. This would take the total amount of aid sought by the two companies to a whopping figure of $39 billion, as reported by The New York Times.

February 18, 2009: Steel Authority of India (SAIL) is setting up steel processing units (SPUs) at locations where it does not have any production facility. It plans to meet market demand for tailormade products and help increase per capita steel consumption in rural areas.

February 18, 2009: JSW Steel is ready to overtake Tata Steel and become the country's largest private sector steel producer with an extension at its Vijaynagar facility.

February 17, 2009: The stainless steel market in Asia may gain in strength now that Taiwan's Yieh United Steel Corp (Yusco) and Tang Eng will raise the export stainless steel price for February.

February 17, 2009: Gangcheng Group plans to establish a 1.4 million tons per annum pellet plant in China's Sichuan, where it already has two 1.2-mtpa units.

February 17, 2009: ArcelorMittal board member Michel Wurth, in charge of the group's Flat Carbon Europe segment, feels Europe's steel prices have "really reached the bottom."

February 17, 2009: Coil prices have dropped in the US and stayed stable in Europe. Turkish domestic cold rolled (CR) coil prices and CR coil export prices from China have also decreased.

February 17, 2009: As part of its expansion and modernisation plan, the Steel Authority of India Ltd (SAIL) has ordered new equipment for its integrated steel mills at Bokaro and Rourkela located in Jharkhand and Orissa, respectively.

February 17, 2009: The global economic crisis has adversely impacted Japan's economy which shrank 3.3 percent in the fourth quarter, reported an international news agency. This has been the biggest drop since 1974.

February 17, 2009: As per ArcelorMittal CEO, Lakshmi Mittal, steel demand in China is starting to improve as destocking ends. This development has helped in bolstering domestic prices.

February 17, 2009: ArcelorMittal is likely to get about 1,025 acres from the Jharkhand government for its project there. The company will pay Rs 12.39 crore for this.

February 17, 2009: South Africa's Kumba Iron Ore (KIO), the world's fourth largest iron ore producer, has planned to increase its production by 10 percent in 2009, if the market permits.

February 16, 2009: Tata Steel subsidiary Corus is targeting a cost savings of £600 million during the year in a bid to weather the current economic downturn even as its parent company expects to record improved sales in Q4 of 2008-09 compared to the earlier corresponding quarter.

February 16, 2009: JSW group chairman Sajjan Jindal will review the status of the delayed steel project in West Bengal after three months, a company official has said.

February 15, 2009: Unlike Singur and Nandigram, land isn't the problem here. But funds are. As a result, the chief minister would be able to lay the foundation of one mega steel project in Purulia, instead of two.

February 14, 2009: Bhushan Steel has initiated discussions with Sumitomo Corporation, for investing in Bhushan's proposed steel plant in West Bengal.

February 14, 2009: Tata Steel will not focus on any acquisition 'for the time being', said company managing director, B. Muthuraman.

February 14, 2009: Pohang Iron and Steel Company (Posco) is engaged in negotiations with the Maharashtra government to set up a downstream steel plant in the state, said a top government official.

February 13, 2009: Exports of Turkish bars were at 963,233 tons in January 2009, a rise of 31.8% from 730,835 tons in the same month, last year.

February 13, 2009: The flat rolled market in south Europe, which saw action in December 2008, has seen a slight increase in trading volumes of late.

February 13, 2009: Rio Tinto has plans to sell off 15 percent of its Hamersley iron ore works to Chinalco. The transaction is valued at $5.2 billion.

February 13, 2009: Base metals prices fell steadily on the London Metal Exchange (LME) on February 12 in the backdrop of the recession.

February 13, 2009: Ukrainian steel producers have decided to maintain increasing production in February, from December-January.

February 13, 2009: Steelmaking input prices maintained their upward trend on February 12.

February 13, 2009: Bhushan Steel has initiated talks with the $2.4 billion diversified Japanese trading company, Sumitomo Corporation, for investing in Bhushan's proposed steel plant in West Bengal.

February 13, 2009: Steelmakers in the Kalinga Nagar Industrial Complex have asked chief minister Naveen Patnaik to take action against Orissa Mineral Corporation (OMC), for setting high iron ore prices.

February 12, 2009: China has announced average reference prices for import transactions of Indian iron ore Fe 63.5 percent, which finished on February 9.

February 12, 2009: Exports of finished steel products stood at 1.91 million tons (mt) for China in January, a fall of 53.8 percent compared to the corresponding period in the previous year.

February 12, 2009: ArcelorMittal is upbeat on a turn of fortunes for the steel industry in the second quarter.

February 12, 2009: ArcelorMittal has predicted a huge drop in iron ore prices this year.

February 12, 2009: Karnataka has given permission to Essar Steel for setting up a 6 million tons per annum (mtpa) integrated mill. The company has also sought iron ore mines allocation from the state.

February 12, 2009: Steelmakers in the US have demanded a 'Buy America' provision in the final economic stimulus bill to be sent to President Barack Obama.

February 12, 2009: In the week ending February 7, 2009, US domestic raw steel production stood at 1.08 million net tons while the capability utilisation rate was 45.3 percent, according to data released by the American Iron & Steel Institute (AISI).

February 12, 2009: ArcelorMittal is likely to cut its global crude steel production by 12 million tons (mt) in the first quarter of 2009, compared to levels in the first quarters of 2008, 2007 and 2006.

February 11, 2009: Scrap and pig iron prices have been steadily dropping in the US.

February 11, 2009: Liberia's $1.6-billion Western Cluster iron ore project has received bids from ArcelorMittal and Tata Steel among others.

February 11, 2009: The top 10 Chinese mills have manufactured 16.3 million tons (mt) of crude steel in December, up 12.9 percent from the previous month. Production at these mills increased between 6.4 percent and 30.3 percent month-on-month in December.

February 11, 2009: The prevailing downturn has forced Czech steel producer Evraz Vitkovice to idle its heavy sections rolling mill and slab producing steel plant.

February 11, 2009: Real demand is still eluding Italian rod producers. Currently, stocks are depleted and prices expected to keep falling.

February 11, 2009: ArcelorMittal Kazakh is planning to invest $190 million more in its plant for environmental improvement, increased safety in coal production and a new coal mining unit.

February 11, 2009: European coil prices have been pegged lower than last week by The Steel Index though coil prices in the US have stabilised. Turkish domestic hot rolled coil (HRC) prices decreased since last week while Chinese HRC and cold rolled coils (CRC) export are better.

February 11, 2009: Steelmakers in Bangladesh are seeking a cut in import duties on raw materials from the government.

February 11, 2009: European coil prices and the Turkish domestic hot rolled coil price saw a drop since the week ended February 6, 2009.

February 11, 2009: Licensing restrictions on imports of steel hot-rolled coils (HRC) are expected to soon be redundant as the decision is being widely viewed as "an unfair, unnecessary deterrent" to trade.

February 11, 2009: Orissa Mining Corporation (OMC) has plans for a 2.5-million tons per annum (mtpa) crushing system, along with conveyance and a mechanised wagon loading facility, at its Daitari mines.

February 11, 2009: European coil prices and the Turkish domestic hot rolled coil price saw a drop since the week ended February 6, 2009. Meanwhile, the US coil prices have stabilized. There was also a rise in the export levels for Chinese HRC and CRC.

February 11, 2009: The quarter ended December 2008 has been the worst showing by the metals industry in the past couple of years as profits dived on high costs while sales dropped slightly.

February 11, 2009: The Steel Ministry has asked the National Highway Authority of India (NHAI) to improve road infrastructure in Jharkhand, Chhattisgarh, Orissa and West Bengal to support the massive growth of steel production by 2011-12.

February 11, 2009: Union minister for steel, chemicals & fertilisers Ram Vilas Paswan has demanded an embargo on high grade iron ore exports to help the cause of the domestic steel industry.

February 10, 2009: China's finished steel imports stood at 9,27,811 tons in December 2008, down 9.3 percent month-on-month.

February 10, 2009: Kudremukh Iron Ore Company (KIOCL) has plans to set up integrated steelworks in Karnataka and commission it by 2011, assuming all the necessary clearances are received in time.

February 10, 2009: Mexican flats prices touched record lows late last month and in early February.

February 10, 2009: Northern European scrap prices are expected to drop in February on very weak local demand and few exports.

February 10, 2009: Corus' Thrybergh bar mill at Rotherham and wire rod mill at Scunthorpe will be combined into a single commercial entity to keep costs down.

February 10, 2009: Offer prices in Southeast Asia for imported hot rolled (HR) cut sheet stayed at $500 to $520 per ton cfr Singapore for Russian-origin material and at around $520 per ton cfr for Thai material.

February 10, 2009: Minister of steel Ram Vilas Paswan has said India would become the world's second largest steelmaker after China by 2015.

February 10, 2009: Scrap steel realisations have halved to Rs 17,000 a ton, from Rs 34,000 a ton last year, reflecting the drop in steel prices.

February 10, 2009: The Turkish sections for the export markets are offered at $500-540 per ton fob, while the offers in the domestic market hovered around TL 800-820 per ton ($497-508 per ton) ex-works.

February 10, 2009: The Turkish market is witnessing slow return of demand, albeit the market is still suffering due to the liquidity problems and short payment periods, said Turkish strip product traders.

February 10, 2009: In Southeast Asia, the offer prices for imported hot rolled cut sheet of Russian-origin stood at $500-520 per ton cfr Singapore, while for Thai material at around $520 per ton cfr.

February 10, 2009: Keonjhar Industries Federation (KIF), the industry body representing about 30 iron ore crushing units, has sought iron ore lumps at lower prices to continue operations.

February 10, 2009: Sanjay Singhal, elder brother of Bhushan Steel's Neeraj Singhal, has teamed up with Orissa Sponge Iron & Steel promoters to check any takeover bid by Bhushan Steel.

February 10, 2009: Rashtriya Ispat Nigam (RINL) has lowered its production by nearly 30 percent as a result of slow demand.

February 9, 2009: Kudremukh Iron Ore Company (KIOCL) has temporarily put a stop to production of foundry grade pig iron and iron oxide pellets and slashed sales for the current quarter.

February 9, 2009: Rashtriya Ispat Nigam (RINL) has been suffering heavy losses due to non-allotment of captive iron ore mines by the Centre, especially during the current recession.

February 9, 2009: Bhushan Power & Steel has made an open offer to buy an additional 26 percent in Orissa Sponge Iron & Steel as part of its decision to acquire a majority stake in the company.

February 8, 2009: Railways has said that it will prioritise various rail projects to meet the steel industry's need for additional rail lines and higher freight-carrying capacity.

February 8, 2009: After signing a memorandum of understanding (MoU) for picking up a majority stake in Corus' Teesside Cast Products (TCP), Italian steel maker Marcegaglia may explore further synergies with Tata Steel.

February 7, 2009: Tata Steel has recorded a higher hot metal, crude steel and saleable steel production in January 2009 as compared to the same period last year.

February 7, 2009: The Ruias-promoted Essar Steel has said it would set up a 6- million ton per annum (MTPA) steel unit in Karnataka at an investment of Rs 17,760 crore as it looks to prop up its annual capacity to 25 million tons by 2015.

February 7, 2009: Steel production by the country's main producers dipped by about 3.4 percent to 14.3 million tons in the April-January period with an exception of Tata Steel, which managed to maintain its output levels, official sources said.

February 6, 2009: The Bolivian government has granted land to Jindal Steel & Power (JSPL) for its El Mutún project, where the company is developing iron ore mines and steelworks.

February 6, 2009: The government has revoked the import restrictions it had effected on seamless pipe products to prevent China and Ukraine from selling off their steel stockpiles.

February 6, 2009: China's Lianzhong Stainless Steel Corp will hold domestic benchmark contract prices for its hot rolled and cold rolled products for 200, 300 and 400 grades in February.

February 6, 2009: ArcelorMittal's major carbon flats mill, Tubarão are rumoured to be considered for divestment.

February 6, 2009: The steel industry has come through a quarter that saw profits of almost all the majors fall about 50 percent and that of one disappear altogether. This may mark the low water point, for the worst seems to be over, as steel prices have recovered in the past few weeks.

February 5, 2009: Iron ore prices are forecast to decrease in 2009 after six years of price hikes as falling demand triggers severe production cuts in the steel industry.

February 5, 2009: Outokumpu forecasts weak stainless steel markets in the first quarter of 2009 and expects to make a loss in the period. However, it said it was taking decisive action in response to the challenging markets.

February 5, 2009: Rajya Sabha member and BJD leader Pyari Mohan Mohapatra has opposed the principle of captive mining, causing trouble for steel companies which were banking on their memoranda of understanding (MoUs) with the Orissa government.

February 5, 2009: Uttam Galva Metallics Ltd has inked a memorandum of understanding with the government of Maharashtra for setting up a project to manufacture 0.5 million tons of pig iron.

February 5, 2009: Tata Metaliks (TML) has received a prospecting licence from the Maharashtra government for taking up initial exploration for iron ore mining in Sindhudurg.

February 4, 2009: Essar Steel's $2-billion investment in Trinidad & Tobago is in doubt as its lead banker has been hit by the financial meltdown.

February 4, 2009: BHP Billiton benefited from strong volume additions in iron ore. In Western Australian iron ore and metallurgical coal operations, there were requests for deferrals from some long term contract customers. However, this did not affect iron ore or metallurgical coal production in the half-year ended December 2008.

February 3, 2009: Hindustan Zinc (HZL) expects demand for zinc and lead to stabilise in 2009-10 after infrastructure construction recovers.

February 3, 2009: US domestic hot rolled (HRC) and hot dipped galvanised (HDG) coil prices have decreased again.

January 3, 2009: The Steel Ministry and the mining industry have opposed MMTC's proposal of channelising all iron ore trade, including low grades, in the country through it.

February 3, 2009: Plate imports have been falling steadily in southern Europe along with prices.

February 3, 2009: Steel Authority of India (SAIL) has planned an investment of Rs 4,000 crore for implementation of its various mining projects in Orissa.

February 3, 2009: NMDC Ltd is expected to secure a mining lease for Sansangora deposit in Jharkhand.

February 2, 2009: Demand in the steel sector appears to be inching towards normalcy and production is expected to be restored to normal levels by March. The price fall in China has been arrested and raw material prices - like those of scrap - have moved up on demand.

February 2, 2009: China sustained on to its booking for overseas slab in January, regardless of the expectations in the regional trading market that China's appetite for foreign slab would be sluggish in January.

February 2, 2009: Steelmakers have increased production on the back of a slight recovery in supply orders from the construction and infrastructure sectors.

February 1, 2009 : The automobiles sector is expected to lose 7 percent in volume terms in 2009.

February 1, 2009 : NMDC announced a hike of 44 percent in its turnover for the third quarter ending December 31, 2008 at Rs 2,337.50 crore, compared to Rs 1,623.60 crore in the corresponding period previous year.

February 1, 2009 : Jindal Stainless (JSL) has declared a loss of Rs 378.38 crore for the third quarter of the fiscal on the back of the demand slump and fall in prices of its products.

January 31, 2009 : Steel Authority of India (SAIL) is planning a new steel processing unit in Kangra district of Himachal Pradesh.

January 31, 2009 : Nippon Steel has announced plans to bank the No. 2 blast furnace at its Kimitsu works near Tokyo and 'hot bank' coke ovens at four of its works. The move comes a week after it said it would deepen its planned production cut during the current half to 4 million tons.

January 31, 2009 : Bhushan Steel may take up a controlling stake in Orissa Sponge Iron & Steel by buying out its existing promoter Prashant Mohanty.

January 30, 2009: Rio Tinto has signed agreements to sell its Corumbá iron ore mine in Brazil and the associated river logistics operations in Paraguay to Vale, the Brazilian mining company.

January 30, 2009: Bhushan Steel has bought a 9.5 percent stake from Unitech promoter, the Chandra family, in Orissa Sponge Iron & Steel for about Rs 23 crore. Bhushan Steel already owns 6 percent in Orissa Sponge.

January 30, 2009: Corus has plans to sell a majority stake in a large steel plant at Teesside for about $450 million.

January 30, 2009: Domestic buyers have not returned to book hot rolled coil (HRC) imports this month. Importers are bidding at $450 to $460 per ton cfr India but current offer prices from Russia and Iran have risen to around $480 per ton cfr.

January 30, 2009: Iron ore prices are expected to drop 15 to 20 percent this year due to falling demand from global steel producers because of production cuts.

January 29, 2009: Leading wire rope manufacturer Usha Martin Ltd is expecting to reduce its cost of steel production to fall to Rs15,000-16,000 per ton from current level of around Rs 27,000 per ton by the end of current financial year. Speaking to Steel Insights, Rajeev Jhawar, managing director said, "We expect cost of steel production to fall as we will exhaust all our expensive raw materials bought earlier and would be able to buy raw materials primarily coke at much cheaper rate."

January 29, 2009: Nippon Steel and other Japanese steelmakers have demanded 40 percent lower iron ore prices and a 60 to 70 percent reduction in coking coal prices for the fiscal year beginning April 1.

January 29, 2009: Tata Steel Ltd has announced a 56.4 percent dip in profits for the December quarter from its domestic operations.

January 29, 2009: Vedanta Resources was hit by the sharp deterioration in economic conditions in the third quarter.

January 29, 2009: Tata Steel will lower Corus' production 40 percent from January this year amid a huge fall in steel demand in Europe.

January 29, 2009: Shyam Steel will continue with its proposed greenfield steel unit in Purulia despite a slowdown in the sector.

January 28, 2009: Steel Authority of India (SAIL) has declared a net profit of Rs 843 crore for the third quarter of 2008-09. The 56 percent fall from the corresponding quarter last year is a result of higher cost of inputs and lower sales volumes.

January 28, 2009: Welspun Gujarat Stahl Rohren Ltd (WGSRL), the second largest line pipe company in the world, has won orders for LSAW pipes worth Rs 500 crore from the Gas Authority of India Ltd (GAIL).

January 28, 2009: Sesa Goa has announced that its third quarter profits fell 7 percent due to low iron ore demand from China, the biggest buyer. This, in turn, led to a drop in prices.

January 28, 2009: JSW has decided to review the Rs 96-crore township project with Maytas Infra.

January 27, 2009: Commissioning of JSW Steel Ltd's massive blast furnace is unlikely to take place before March.

January 27, 2009: Corus has decided to focus on divestments, asset restructuring and a company-wide efficiency and overhead review to stay competitive in times of the downturn.

January 27, 2009: World crude steel production reached 1,329.7 million tons (mt) for 2008, a decrease of 1.2 percent compared to 2007, according to data released by the World Steel Association.

January 27, 2009: Steel prices are expected to remain stable in the spot market next month as demand for domestic steel products has revived marginally.

January 25, 2009: Kudremukh Iron Ore Company (KIOCL), the 100 percent export-oriented unit under the ministry of steel and mines, has proposed to set up a steel plant in Karnataka as part of its forward-integration plans at an estimated investment of Rs 9,000-10,000 crore.

January 23, 2009: Faced with a liquidity crunch, the country's second largest private steel producer, JSW Steel, is cutting its proposed investment by nearly one-third for the first phase of the Rs 35,000-crore mega steel project in West Bengal.

January 22, 2009: Set up in 1965, the Alloy Steels Plant (ASP) in Durgapur, is yet another success story of the Steel Authority of India Limited (SAIL). The plant bears testimony to SAIL's relentless effort towards speeding up the industrial development of the country.

January 22, 2009: World production of crude steel suffered one of its largest ever reverses in November, plunging 19 percent to only 89 million tons (mt) from 110 mt in November 2007.

January 22, 2009: Steel majors like SAIL, Tata Steel, JSW, Essar and Ispat have asked the Centre to pump more liquidity into the system to stimulate demand from sectors like automobiles and construction.

January 21, 2009: Sinosteel is no exception to the global meltdown hitting steel projects across the globe.

January 21, 2009: Production in the first half of 2008-09 was good for BHP Billiton on the back of adjustment decisions and preponed maintenance.

January 21, 2009: BHP Billiton has decided to safely ramp down and indefinitely suspend the Ravensthorpe Nickel Operation in Australia.

January 20, 2009: The likes of SAIL, Tata, JSW and Essar may push for a higher import tariff on steel at a meeting convened by the government on January 20, even as the decrease in imports has weakened their case.

January 20, 2009: In a move to meet the growing market requirement for normalized plates, Steel Authority of India's Bhilai Steel Plant (BSP) has installed another normalising furnace in the plant's plate mill.

January 20, 2009: The US used nearly 12 percent less stainless steel in the first ten months of 2008, over the comparable 2007 period but imports dropped little more than 1 percent.

January 20, 2009: The global financial slowdown may make it much cheaper than Rs 80,000 crore for Steel Authority of India (SAIL) to double its capacity.

January 19, 2009: The Essar group now has a mineral concession in Amapa, North Brazil, which will cater to its proposed steel plant in Trinidad & Tobago in the South Caribbean.

January 18, 2009 : Hyundai Steel is expected to decrease the price of hot rolled coils (HRC) by about $86 to $108 per ton.

January 18, 2009 : China 's steel mills and trading houses have rejected an attempt to get them to agree to stop re-selling iron ore - a deal which may have helped China in annual price negotiations with leading miners.

January 18, 2009: Combined tonnage is up 30 million tons (mt) from that in 2008 after 60 percent of China Iron & Steel Association (CISA) members reported their production targets for the new year.

January 17, 2009: Japanese ferrous scrap export prices from Tokyo Bay increased JPY 5,114 to average JPY 23,312 per ton FAS for February shipment, compared to January shipment.

January 17, 2009: China's steel mills are looking to conclude iron ore contract price negotiations with suppliers such as the Rio Tinto Group before demand increases.

January 17, 2009: Rio Tinto has decided to hold off the $320 million iron ore port project in Uruguay for at least a year under the onslaught of the sluggish world economy.

January 17, 2009: Baosteel Group has closed down six blast furnaces since October 2008.

January 16, 2009: The international downturn has almost cut by half the value of Chile's copper exports in December. Exports fell to $1.23 billion, the lowest level since February 2005 and down from $2.39 billion a year earlier.

January 16, 2009: China's State Reserves Bureau has decided to purchase some 59,000 tons of zinc from seven domestic producers. This is much below the market expectation of 1,00,000 tons.

January 16, 2009: Hindustan Zinc has announced lower prices of zinc at Rs 73,300 per ton, a drop of Rs 1,400, with effect from January 15. Zinc is used in producing galvanised steel.

January 16, 2009: Net margins of most domestic steel companies have shrunk to the lowest levels and it will be impossible to cut steel prices without a significant fall in raw material prices.

January 15, 2009: Thailand's steel manufacturers have halved their production in the first quarter of 2009 as demand and prices are falling sharply amid the economic slump and political uncertainties.

January 15, 2009: London Mining will spend $45 million in cash to acquire 50 percent in a joint venture (JV) with Wits Basin Precious Minerals Inc. The JV will take over two iron ore mines in China.

January 15, 2009: Loss of demand, input production cost hike and the flooding of China-made products into Vietnam has put steel producers of that country in difficulties.

January 15, 2009: Cam Iron, a subsidiary of Sundance Resources, will set up a $236 million iron ore export facility as part of a multi-user deepwater port project in the Cameroons.

January 15, 2009: Low-cost steel products from overseas have been flooding China since the beginning of 2009.

January 15, 2009: The US' raw steel production was 1.062 million tons (mt) in the week ending January 10, 2009 while the capability utilisation rate was 44.5 percent.

January 15, 2009: The likes of Ispat, Essar and JSW - which had slashed metal production last October on the back of low demand - have now either resumed full scale operations or increased their production levels.

January 15, 2009: ArcelorMittal can apparently reduce it flat product prices in Brazil by up to 10 percent, depending on the product.

January 15, 2009: The Chinese domestic cold rolled coil prices have stabilised over the week which shot up at the beginning of January 2009.

January 13, 2009: Gangotri Iron & Steel Co (GISCO) has established a factory in Mahadeopur village of Bihta, Bihar to manufacture earthquake-resistant TMT bars. This is the first private sector steel factory in Bihar.

January 13, 2009: China's Shanxi Coking Industry Association (SCIA) has lowered the reference coke price for its members for January 2009, compared to last November.

by Rajkumar Mitra & Sarbani Haldar

January 13, 2009: After a long wait, global stainless steel producers may have something to cheer about with the advent of the New Year. As the metal industry's youngest alloy, stainless steel has scripted a remarkable success story registering a record growth over the past quarter century.

by Nudrat Alim

January 13, 2009: There was not much activity in the global ferrous scrap market towards the end of December, owing to the festive season when most steel mills remain shut and buying activities take a backseat.

by Rakesh Dubey

January 13, 2009: The Steel Authority of India Ltd (SAIL) is all set to convert the existing technology at its blast furnaces to use more non-coking coal through Coal Dust Injection (CDI) system for making steel, instead of using coking coal.

by Sarbani Haldar

January 13, 2009: Nickel prices fluctuated throughout December as the metal first fell in first few days and then recovered in later, registering one of the sharpest increases in recent times.

by Nudrat Alim

January 13, 2009: Iron ore price stability has not lasted for long, but that has not come as a shock. The fact that Chinese mills continued to buy iron ore despite prices moving up consistently, was enough indication that buying would stop soon enough. In fact in the last week of December, spot offers in China witnessed a decline of almost 9 percent.

January 13, 2009: The end of the year brought good news for Bhilai Steel Plant (BSP) as it recorded its best performance for the April to December period. Production figures rose for most categories.

by Gilbert Lobo

January 13, 2009: The slump in the domestic and international automobile industry has hit the castings and forgings industry in India hard. This sector was emerging as a major world supplier - led by China - but now it is in the grip of a severe depression.

January 13, 2009: Last year had been a tough one for the whole world, perhaps seen once in many decades. Markets across the globe collapsed virtually like a house of cards. The world is currently seeing one of the worst recessions in recent times. So much so that at times it is even compared to the Great Depression of 1930s.

by Gilbert Lobo

January 13, 2009: A severe shortage of chrome ore is forecast in a status paper prepared by the Federation of Indian Mineral Industries (FIMI), with remedial measures suggested therein.

by Gilbert Lobo

January 13, 2009: The bulk ferro alloys industry will have to reinvent itself in 2009. Gone are the days of super profits, rapid expansion through small uneconomic and polluting units, taking advantage of state subsidies and concessions through lower power tariff and tax incentives.

by Rajkumar Mitra

January 13, 2009: Exports are generally considered risky in a scenario where consignments are not cleared in ports and when instances are reported that buyers are holding payments for insignificant rectifications in the letter of credit (LC).

January 13, 2009: Posco is uncertain about stability returning to international steel prices and may decide to continue with its production cut during the current quarter.

January 13, 2009: South Korea's Posco has announced that it is negotiating with Toyota Motor Corp for supply of steel.

January 12, 2009: Perhaps no soothsayer could predict that steel, the world's biggest volume industrial commodity, would see a shocking market collapse at the end of July 2008, after seeing a growing demand surge six years ago.

January 12, 2009: Domestic steel producers have managed to clear stockpiles through exports, which rose 36 percent in quantity for December 2008, though sales realisations were not so strong.

January 12, 2009: Steel prices are largely determined by the prices of iron ore, coking coal and scrap - the three primary raw materials needed for steel manufacturing. The year gone by has seen steel prices go through a rollercoaster ride.

January 12, 2009: In these turbulent times, Rashtriya Ispat Nigam Ltd (RINL) chairman and managing director P.K. Bishnoi speaks to Steel Insights about how steel companies can beat recession.

January 12, 2009: The following steps were suggested by Tata Sons director J.J. Irani to help steel companies beat recession in the coming months and struggle through the current difficult period.

by Rakesh Dubey

January 12, 2009: Notwithstanding global economic slowdown, the former chairman of Steel Authority of India Limited (SAIL) Arvind Pande feels that the long term prospects of greenfield steel projects that had been announced recently is bright.

by Arusha Das

January 12, 2009: In the fag end of the calendar year 2008, the steel market continues to be obscure as the prices along with demand across all markets, is still depressed.

January 12, 2009: India imported 3825 tons of HR coils in the month of November 2008.

Asia: The Chinese Market

Chinese domestic HRC prices rise quickly

January 12, 2009: December end saw quite a bit of action in the Chinese domestic HRC market.

ASIA

Billet import offer prices falter in quiet SE Asian market

January 12, 2009: Offers of billet were prevailing at $390 to $400 per ton cfr east Asia during early December. The very limited offers heard in the market were for Korean-origin material for December shipment.

January 12, 2009: The year 2008 ended on an exceptionally weak note as far as global manufacturing was concerned.

Domestic Scenario

The flat products market remained dull at the beginning of the month. Over a week, prices saw a drop of Rs 1,000 per ton across various items. Plate prices ruled at Rs 30,000 per ton basic in the second week of the month.

Domestic scrap scenario

January 12, 2009: The steel scrap market was sluggish in India at the beginning of the month as there was almost no demand from buyers. Price of steel scrap H1&2 (80:20) prevailed at $200 per ton fob, unchanged since early last month.

January 12, 2009: Global production of crude steel suffered one of its largest ever reverses in November, plunging 19 percent to only 89 million tons (mt) from 110 mt in November 2007. This took production for January-November 2008 to 1,224 mt, just 0.9 percent more than in the same 2007 period, noted data released by the World Steel Association.

January 12, 2009: Orissa has again recommended South Korean steel major Posco for the Khandadhar iron ore mines.

January 10, 2008: Anticipating a revival in demand JSW Steel, is all set to commission a 3 million ton per annum blast furnace along with a wire rod and bar mill in the current quarter.

January 10, 2008: Baosteel steel tubes export has witnessed a record high for 2008 in spite of anti dumping lawsuit put forward by EU and America.

January 10, 2008: ArcelorMittal Hunedoara steel plant will resume its activity on January 8th 2009.

January 9, 2009: Tata Steel Ltd has announced the resignation of its Corus unit chief executive officer (CEO) Philippe Varin. It has appointed former Bluescope Steel CEO Kirby Adams in his place.

January 9, 2009: China's stainless steel makers may increase production in January 2009, with the market for nickel stabilising.

January 9, 2009: Bhilai Steel Plant (BSP) is now geared up for exporting boiler and other special quality plates. It had been exporting mild, high tensile and shipbuilding quality plates all over the world till now.

January 9, 2009: Steel secretary P.K. Rastogi has said domestic steel companies are likely to lower prices in June, following the fall in long term fuel prices.

January 9, 2009: Japan's Ministry of Economy, Trade & Industry has predicted domestic crude steel production at 21.1 million tons (mt) in the fourth quarter, down 31.6 percent from the corresponding period last year and 22 percent lower from the third quarter.

January 9, 2009: The Mines Ministry has approved MSP Steel & Power Ltd's prospecting licence for iron ore mines, spread over 150 hectares in Chhattisgarh.

January 9, 2009: Stainless steel imports have fallen 70 percent to 6,000 tons in December, which is weakening the industry's demand for raising its import duty.

January 8, 2009: US steel companies are gearing up to face fewer orders and lesser production in 2009. Analysts forecast output in 2009 to shrink 35 percent year-on-year and revenues to drop 35 percent or more.

January 8, 2009: BHP Billiton has exported 10.6 million tons (mt) of iron ore from the Pilbara region of western Australia in December 2008, a slight increase over November.

January 8, 2009: The European Commission (EC) has decided to impose temporary duties on steel wire rods from China and Moldova.

January 8, 2009: An Indian investor is expected to set up a steel plant in Central Kalimantan's Lamandau, the biggest ore producer in the province.

January 8, 2009: Iron ore exports have fallen 13.31 percent due to the global slowdown in demand for the ore on the back of low demand in steel.

January 8, 2009: The government has taken a series of measures to help the steel industry tackle the international slowdown.

January 8, 2009: Jindal Steel & Power (JSPL) has sought the Orissa government's recommendation for an iron ore mining lease for its proposed 6-million tons per annum (mtpa) steel plant at Angul. The project will require an investment of Rs 15,000 crore.

January 7, 2009: Shagang has reduced its January ship plate export prices to around $710 per ton fob.

January 7, 2009: Wuhan Iron & Steel (Wugang) announced that it will also raise most of its February's ex-works prices.

January 7, 2009: Tata Steel Ltd announced steel sales figures of 1.07 million tons (mt) in the December quarter from its domestic operations - a drop of 14 percent from a year ago.

January 7, 2009: Chinese hot rolled coil export prices to Europe are rising owing to the strengthening Chinese domestic market, said the traders.

January 7, 2009: Tata Steel has proposed to set up a 6-million ton steel plant in Orissa and a 12-mt steel plant in Jharkhand with the support of the respective state governments.

January 7, 2009: Jindal Stainless (JSL) will ease off on its Rs 2,887-crore ($600 million) foreign projects and delay its Rs 10,000-crore expansion plan in India.

January 6, 2009: Rourkela Steel Plant has announced its intention to keep going with its expansion plans, despite the global meltdown.

January 6, 2009: JSW Steel, India's third largest steel company is likely to review its earlier decision to cut production, following a revival of demand in certain sectors of the economy.

January 6, 2009: CRI Pumps Pvt Ltd will set up a 500-ton dedicated steel foundry and valves manufacturing unit.

January 6, 2009: JSW Steel will probably take another look at its earlier decision to cut production, following a revival of demand in certain sectors.

January 5, 2009: Steel demand in China is likely to touch the 500 million tons (mt) mark in 2009, according to South China Metal Transaction Center economy research office chief Yang Jianlong.

January 5, 2009: Hebei Iron & Steel Group has revised its production target upwards for 2009 as it feels the market trend in coming months is optimistic.

January 5, 2009: Byelorussian Steel Works (BMZ) has decided to postpone construction on its thin gauge steel sheet plant project until 2010-11. Costs are estimated at $100 billion.

January 5, 2009: The end of the year brought good news for Bhilai Steel Plant (BSP) as it recorded its best performance for the April to December period. Production figures rose for most categories.

January 4, 2009: The stainless steel sector has sought an upward revision in import duty to 15 percent from 5 percent in the wake of rising low-cost imports.

January 4, 2009: Severstal has idled a blast furnace at its Cherepovets Steel Mill on the back of weak demand. Russia's largest steelmaker has already announced production cuts to support the same.

January 4, 2009: Trade has increased 30 to 40 percent since mid-November at one of Asia's largest steel markets - the Loha Mandi in Naraina.

January 3, 2009 : Discounts of up to Rs 1,500 per ton on certain steel products can be expected by select customers from domestic steel producers, who will not cut prices of all products this month.

January 3, 2009 : The Centre has stopped exemption from countervailing duty (CVD) on import of thermo-mechanically treated (TMT) bars and structurals in the second economic stimulus package. TMT bars and structurals imports will now attract a 10 percent CVD.

January 3, 2009 : Tata Steel plans to put emphasis on completion of the ongoing expansion work at its Jamshedpur plant. It would take up work on its proposed greenfield projects, including that in Jharkhand, in phases.

January 1, 2009: The domestic steel industry is optimistic about the future and expects more business opportunities in the coming months, in spite of the slowdown in the economy at present.

January 1, 2009: Tangshan Bohai Steel Group and Tangshan Changcheng Steel Group have been incorporated as part of consolidation of private mills in the city.

January 1, 2009: Sidor, a Venezuelan steelmaker, should not allot resources for the likely joint mining activities at Bolivia's El Mutún iron ore deposit.

December 31, 2008: Posco may revise its plans for India after talks reached a stalemate.

December 31, 2008: The European Commission (EC) will put customs duties of 10.7 percent on seamless and welded steel pipes manufactured by Ukraine's Interpipe and 44.1 percent on pipes produced by other Ukrainian companies.

December 30, 2008: NMDC has not offered a positive response to a request for additional 3.5 million tons (mt) of iron ore by the Essar group. Chairman Shashi Ruia had written to Prime Minister Manmohan Singh in this respect.

December 30, 2008: Nucor Corporation has decided to restart surcharges on its rebar merchant steel bar products.

December 30, 2008: Goa's iron ore exporters feels the pickup in demand from China may be temporary and Indian exports may not be able to sustain the outflow.

December 30, 2008: The Steel Ministry has sought fulfillment of Steel Authority of India's (SAIL) iron ore requirements first from the Chiria mines in Jharkhand, before any is given to private steel manufacturers.

December 30, 2008: Indian end users of cold rolled and coated flats like the automobile and white goods makers, are looking for short term supply contracts with re-rollers and galvanizers due to the uncertainty in the steel market.

December 30, 2008: Imported plate offers to Turkey are hovering in the range $650-700 per ton cfr while the local plate price is at $800 per ton.

December 30, 2008: The Centre has asked steel companies on their opinion on whether to impose an anti-dumping duty on steel imports from China, Thailand and Ukraine.

December 29, 2008: The long awaited 5-million-ton (mt) steel plant of Jai Balaji Industries in Purulia can finally get off the ground, with the West Bengal Industrial Development Corporation (WBIDC) giving possession of 748.97 acres of land to the company for the first phase of the project.

December 29, 2008: Rebar demand in the United Arab Emirates is very slow, and the prices are hovering in the range of AED 1,600-2,000 per ton ($436-545 per ton).

December 29, 2008: The Turkish flat products market continue to remain sluggish, and the trend is likely to continue till the second quarter of 2009.

December 29, 2008: Steel companies may get some relief as Indian Railways plans up to 6 percent cut in freight charges on domestic transportation of iron ore.

December 28, 2008: The Power Ministry has mooted a proposal with the Steel Ministry for the setting up of a facility for domestic production of CRGO (Cold Rolled Grain Oriented) steel that is used in the manufacture of power equipment like transformers and large generators.

December 27, 2008: Even as steelmakers anticipate a recovery in demand for steel in the next couple of months, mixed messages are coming through for the sector. JSW Steel and Bhushan Steel, the two big players in the galvanised steel market, have two different stories to tell as far as demand is concerned.

December 27, 2008: Concerned over slow progress of SAIL's capacity expansion which is planned to reach 26 million tons steel production by 2010, the government has decided to review the PSU's projects on a fortnightly basis to ensure their time-bound completion.

December 27, 2008: Tata Steel, said that the $5 billion integrated steel plant it plans to build in Vietnam would be delayed as the location for the project was still being finalised.

December 27, 2008: With its offtake dipping by over 30 percent in October-November period, NMDC is now looking at expanding its customer base to supply surplus iron ore to secondary steel producers.

December 27, 2008: The country's iron ore exports doubled to about nine million tons in November as against 4.13 million tons in October, mainly on account of better demand from Chinese steel mills.

December 26, 2008: A land allocation hiccup has forced Tata Steel to postpone the deadline for commissioning the first phase of its 4.5-million tons per annum plant by at least a year, from 2010.

December 26, 2008: Visakhapatnam Steel Plant (VSP) has decided to lower steel prices by Rs 2,500 per ton from December 23, over and above the Rs 8,500 per ton reduction that took place in November. The move is expected to boost sales and clear old stocks.

December 26, 2008: US Steel has reportedly decided to stop production at both blast furnaces at its iron plant in Smederevo due to a crisis in the domestic steel market.

ecember 26, 2008: The department of atomic energy (DAE) is seeking private players for a joint venture (JV) with Nuclear Power Corporation of India Ltd (NPCIL).

December 26, 2008: Tokyo Steel Mfg Co has brought down what it pays for locally available ferrous scrap by JPY 500 per ton for all grades at four of its works, with effect from December 13, 2008.

December 26, 2008: German auto component maker Bosch is expected to down the shutters on its Bangalore manufacturing facility for eight days to prevent stocks from piling up.

December 26, 2008: Steel users have taken to entering short term contracts with producers due to sliding prices.

December 24, 2008: Global stainless steel production is expected to decline in 2008 after a 1 percent rise year-on-year in the first three quarters. The fall is expected to be about 1 million tons.

December 24, 2008: Baosteel has signed a technological agreement with Beijing Benz to supply for the latter's production line.

December 24, 2008: Weak demand has forced Thainox Stainless to close down production activities for a month. It hopes to carry out maintenance work and save costs at its plant in Rayong during this time.

December 24, 2008: Mahindra Ugine Steel Company (Musco) and Mahindra Forgings (MFL) have announced their intention to lower production through plant shutdowns and reduced working days.

December 24, 2008: The slowdown seems to have spread to the pipe manufacturing industry now.

December 24, 2008: Chilean longs consumers and distributors are expecting considerable reduction in the bar price by the domestic producer Gerdau Aza.

December 24, 2008: Unitech promoters are negotiating with leading domestic and global steel majors to sell their 25 percent in Orissa Sponge Iron & Steel Ltd.

December 24, 2008: Indian Steel & Wire Products (ISWP) has decided to invest Rs 20 crore in expansion to boost steel production next year.

December 24, 2008: The hot rolled coil stocks in Saudi Arabia continue to remain high.

December 24, 2008: The US plate reference price FOB Midwest mill witnessed a sharp decline of $90 per short ton and dipped to $955 per short ton ($1,053 per ton).

December 23, 2008: Atlas Iron Ltd has entered an agreement with a large Chinese steel mill for the sale of its second iron ore shipment from its 100 percent owned Pardoo DSO Project.

December 23, 2008: Ukrainian pipe production is forecast to decrease further.

December 23, 2008: JSW Steel has preponed commissioning of its additional 3-million ton (mt) capacity line at its Vijaynagar plant in Karnataka by a month.

December 23, 2008: The US coil prices slipped again. Nevertheless, the European coil prices were more stable.

December 23, 2008: Syrian hot rolled coil stocks are high with hot rolled coil changing its hands at $380-400 per ton in the local market.

December 23, 2008: Chinese flat rolled steel producers are apprehensively monitoring the domestic demand from automotive sector and white goods producers.

December 23, 2008: Steel Exchange India Ltd (SEIL) managing director B. Satish Kumar said the company hoped to start manufacturing at the newly acquired Gold Star mill in Kothavalasa, near Visakhapatnam, soon.

December 23, 2008: ArcelorMittal South Africa (AMSA) has lowered its prices for both long and flat products for January deliveries, by an average of 8 percent, said a spokesman.

December 23, 2008: Most of the major Chinese mills are considering higher ex-works prices for their hot rolled coil owing to some stability in the Chinese domestic hot rolled coil prices since the beginning of December and increase in the purchase volumes by traders.

December 23, 2008: The rebar prices of Chile have been witnessing fast and ceaseless fall in an effort by the two domestic mills to avoid domestic sales drop.

December 23, 2008: Chinese domestic slab prices have improved over the past few weeks owing to the stabilising hot rolled coil prices.

December 22, 2008: The anti-dumping probe against imports of stainless steel from the European Union is affecting end users in Maharashtra, according to the Process Plant & Machinery Association of India.

December 22, 2008: The Baldota group is having to spend 20 to 25 percent less on its 1-million ton (mt) steel plant due to the slump in steel prices.

December 21, 2008: The apex committee of International Coal Ventures Ltd (ICVL), a special purpose vehicle formed by five public sector undertakings, would be meeting on 22 December to finalise a decision for picking up stake in some mining companies abroad.

December 21, 2008: The raw material insecurity of leading steel maker RINL would be resolved soon as government has approved making Orissa Mineral Development Corporation a subsidiary of the PSU, a top Steel Ministry official said.

December 20, 2008: The Liberian government has invited Tata Steel to join the bidding process for the $1.6-billion Western Cluster iron ore project, after clearing the Indian steelmaker of all allegations of wrongdoing.

December 20, 2008: Brazil exported 636,000 tons of pig iron in October an increase by 13.7percent YoY compared to that of the same period last year.

20 December 2008: Japanese stainless steel output reached 268,509 tons in October 2008, down by 1percent YoY as against 274,429 tons of the same time last year.

20 December, 2008: ArcelorMittal's Temirtau plant located in Kazakhstan has planned to invest $ 177 million to expand its production facilities of construction steel, iron ore and coal mine in 2009.

December 19, 2008: South Korean steelmaker Posco has said that it will cut steel output by around 10 percent during December 2008 and January 2009 as inventory increased due to tumbling demand from auto and home appliance makers.

December 19, 2008: World crude steel production for the 66 countries reporting to the World Steel Association (WSA) was 89 million tons (mt) in November, according to data released by them. This is 19 percent lower than the same month last year.

December 19, 2008: Demand in Japan for vehicles is expected to slide below 5 million for the first time in 31 years.

December 18, 2008: Weaker consumption has led Egypt's largest steel producer, Ezz Steel, to lower its production levels.

December 18, 2008: China will import around 424 million tons of iron ore in 2009 embarking the 3 percent growth in the in steel production to 463 million tons for the year, as per the forecast of Macquarie Research.

December 18, 2008: Strip products of UAE's markets have not picked up yet.

December 18, 2008: ATI Allegheny Ludlum, a US specialty steel producer has told its customers that the electrical sheet surcharge for February 2009 shipments for the company will be $321 per short ton.

December 18, 2008: US sheet mills are increasing the prices moderately for January delivery.

December 18, 2008: Total Turkish steel exports in November have decreased 17.3 percent year-on-year (y-o-y) to 1.12 million tons (mt) because of the falling steel demand.

December 18, 2008: Three different steel companies have given Larsen & Toubro (L&T) orders worth Rs 1,372 crore.

December 18, 2008: The Vietnam Ministry of Finance will increase import tariffs on finished steel from 8 percent to 12 percent from December 21, 2008 in a bid to restrain imports.

by Nudrat Alim

December 17, 2008: December brought with it a glimmer of hope for the iron ore industry in India. Prices moved up slightly in the export market even as suppliers to the domestic steel industry adopted a wait and watch policy.

by Nudrat Alim

December 17, 2008: Turkey's exit from the market last month did not have the expected impact on ferrous scrap prices.

December 17, 2008: World steel production in October plunged to its lowest monthly level in almost three years, as mills cut output in response to falling demand.

December 17, 2008: Thermo mechanically treated (TMT) reinforcing bars are at present changing hands at around Rs 33,000 per ton ($691 per ton) in India, down from the levels of Rs 38,000 per ton ($785 per ton) in mid November.

December 17, 2008: Thermo mechanically treated (TMT) reinforcing bars are at present changing hands at around Rs 33,000 per ton ($691 per ton) in India, down from the levels of Rs 38,000 per ton ($785 per ton) in mid November.

December 17, 2008: The plate prices in US have slipped by 5 percent this week compared to the week ended December 12, 2008.

December 17, 2008: Toyota Motor is warning Nippon Steel and the other steelmakers of Japanese that it will be looking for a cut in the auto sheet prices by 30 percent after they began discussions for supply contracts commencing from April 2009.

December 17, 2008: ArcelorMittal has recently lowered its hot rolled coil price to €500 per ton from January for its north European customers. However, this price is not attainable in the UK, said traders and stockists.

December 16, 2008: Qatar Steel expects demand for reinforcement steel used for construction in the Gulf Arab region to drop at least 30 percent in 2009.

December 16, 2008: China produced 33.52 million tons (mt) of pig iron, 35.19 mt of crude steel and 42.30 mt of steel products in November.

December 16, 2008: Tokyo Steel Manufacturing has increased its domestic rebar prices by ¥2,000 per ton ($22 per ton) for January contracts.

December 16, 2008: The Turkish flats market was quiet post Eid holidays in the week ended December 12, 2008.

December 16, 2008: ArcelorMittal will no longer pursue its plan to take control of Dillinger Hutte GTS, a specialist maker of steel plate used in engineering and construction.

December 16, 2008: A delegation of Chhattisgarh Sponge Iron Manufacturers' Association plans to go to Delhi after talks between steel producers and National Mineral Development Corporation (NMDC) failed in Hyderabad.

December 16, 2008: The coil prices in Europe witnessed a steep fall again this week. However, the US coil prices had a mild decline since the week ended December 12, 2008.

December 16, 2008: Nucor will keep its January list price for A36 plate at the same level as it was December, said a company executive.

December 16, 2008: Kudremukh Iron Ore Company (KIOCL) is giving second thought to setting up a 1,00,000-tons a year ductile iron spun pipe (DISP) plant at Mangalore.

December 16, 2008: Corus Group has denied media reports of a considered merger with parent Tata Steel.

December 16, 2008: Iron ore suppliers have been left with little choice but to cut production as steelmakers do.

December 15, 2008: The Korean re-rollers can stop importing hot rolled coil from Japan for the first quarter shipment in 2009 due to the deteriorating domestic market conditions, high stocks and the costly product of the Japanese mills.

December 15, 2008: The construction steel prices of Peru slipped in November, as per the country's statistics agency Inei.

December 15, 2008: Auto companies are likely to gain from the near 55 percent fall in prices of steel products such as hot rolled coil (HRC) in the last six months.

December 15, 2008: Outokumpu has put on hold its plans to invest up to Rs 300 crore in India to set up a service centre.

December 15, 2008: Tata Steel has decided to merge Corus in a move to cut costs in the UK by £350 million ($521 million).

December 13, 2008: India's steel imports jumped more than 70 percent to 1.4 million tons (mt) last month against 8 lakh tons in the same month a year ago, says a monthly data released by the Steel Ministry.

December 13, 2008: India is aiming at a more than twofold increase in its steel production to 124 million tons (mt) by 2011-12 and further raise it to 280 mt by 2020, said steel minister Ram Vilas Paswan.

December 13, 2008: The Railways may reduce freight charges on iron ore export traffic even further, indicated Shri Prakash, Railway Board Member (Traffic).

December 13, 2008: NMDC may cut production if the domestic demand for iron ore continues to decline, said Steel Secretary P.K. Rastogi.

December 12, 2008: KKN group of companies has bought a steel plant in Orissa from the Board for Industrial and Financial Reconstruction (BIFR). The unit has a capacity of 30,000 tons.

December 12, 2008: ArcelorMittal is shutting down two steel plants in the US - Lackawana in New York and at Hennepin in Illinois.

December 11, 2008: Conros Group will install new equipment, with a combined capacity of 2,00,000 tons per annum (tpa), to triple pipemaking capacity.

December 11, 2008: Steel Authority of India (SAIL) and Steel Complex Ltd have entered a pact under which the latter's Kozhikode facility will become a 50:50 joint venture (JV).

December 11, 2008: Tata Sons expects steel demand to pick up and prices to stabilise next year.

December 11, 2008: At least 60 percent of domestic exploration activities has yielded no promise for commercial mining of metals and minerals.

December 11, 2008: Iron ore exports to China have been increasing slowly over the past few weeks.

December 10, 2008: Rio Tinto plc will cut 14,000 jobs globally, comprising 8,500 contractor jobs and 5,500 employee roles.

December 10, 2008: Shesh Narayna Singh has assumed charge as the Managing Director of Rourkela Steel Plant (RSP) of Steel Authority of India Limited (SAIL). Prior to this he was Executive Director (Works) at Durgapur Steel Plant, SAIL.

December 10, 2008: Billet prices in the Tangshan area of northern China have again slipped since December 5, 2008, after a short upward revision which was primarily supported by rise in the prices of narrow strips.

December 10, 2008: The US plate reference price FOB Midwest mill witnessed a steep decline of $60 per short ton to $1,101 per short ton ($1,213 per ton).

December 10, 2008: Chung Hung Steel Corp of Taiwan has lowered its domestic prices of hot rolled and cold rolled coils by TWD 1,000 per ton ($30 per ton) for December with a weak market demand, said a company spokesman.

December 10, 2008: The export price of Russian and Ukrainian plate is declining owing to the all-time low demand.

December 10, 2008: The mining industry has hailed the reduction in export duty on iron ore.

December 10, 2008: Shyam Group will set up of its integrated steel and power greenfield plant at Jamuria in Burdwan district on schedule.

CIS billet export prices rise slightly; demand still low

December 9, 2008: The prices of billet produced in Russia and Ukraine and destined for export have recovered slightly from last month's $250 per ton fob Black Sea. Some sources said they were even as low as $230 per ton fob Black Sea.

Chinese slab prices continue to dip

December 9, 2008: Domestic prices of slabs in China have dropped again due to weak demand from downstream users.

Review of the first half of November

December 9, 2008: The global meltdown hit the pig iron, sponge iron and scrap sectors and prices nosedived.

Review for the first half of November

December 9, 2008: The steel plate market remained dim in Mumbai, with reduced demand and low prices. Prices of IS2062 16-20 mm prevailed at around Rs 34,000 per ton, basic ($717 per ton), in the second week, Rs 1,000 per ton ($21 per ton) lower than that of a week ago.

December 8, 2008: World steel production in October plunged to its lowest monthly level in almost three years as mills cut output in response to falling demand.

December 8, 2008: The seeds of the current global steel recession were sown quite some time ago. According to research conducted by Steel Insights, it was found that in some of the major consuming countries like the US, Japan and Europe, consumption of two sectors - housing and automobiles - were showing a negative trend for quite some time.

December 8, 2008: Import data is assuming more and more importance in a sluggish market scenario.

December 8, 2008: The downturn in the Chinese steel industry has caused ripples and apprehensions not only India, but even a strong economy like the US.

December 8, 2008: Complying with repeated requests and demands from the domestic steel industry, the government, in quick succession, decided to impose an ad valorem import duty of 5 percent on pig iron, semi-finished, flat and long steel products in mid-November, and soon after also also restricted the import of hot-rolled coils, which was being freely imported so far.

by Gilbert Lobo

December 8, 2008: As demand of steel dips steadily, steel producers and engineering companies are getting into ventures which promote the use of steel in different fields, in order to promote consumption of steel in India.

December 8, 2008: NMDC Ltd wants introduction of an iron ore index - on the lines of the index on non-ferrous industry on the London Metal Exchange (LME) - to remove the existing confusion over pricing.

by Gilbert Lobo

December 8, 2008: High carbon ferro chrome prices have been falling continuously and are now down to Rs 35,000 per ton ex-works. They could fall further as the stainless steel industry is also down in the dumps.

by Nudrat Alim

December 8, 2008: The latter half of November has brought with it a glimmer of hope for the iron ore industry in India. Prices have moved up slightly in the export market even as suppliers to the domestic steel industry adopt a wait and watch policy.

by Rajkumar Mitra

December 8, 2008: Bulk ferro alloy manufacturers in November were in a mood to sell off at whatever rates they could bargain best.

by Gilbert Lobo

December 8, 2008: The crash in equity prices and failure of investment banks may lead to payment difficulties and even defaults by borrowing Indian companies which had gone for takeovers and foreign expansion.

by Rajkumar Mitra

Power transformer manufacturers are in deep trouble as they are not getting the electrical sheets they need from the domestic steel manufacturers.

by Arusha Das & Sarbani Haldar

While a lot of companies are cancelling their expansion plans as a direct hit of the global recession, some companies like the Steel Authority of India Ltd (SAIL), Kudremukh Iron Ore Company Ltd (KIOCL) and Welspun Gujarat Stahl Rohren are going ahead with their expansion plans.

by Arnab Mallick & Nudrat Alim

December 8, 2008: Even as sales continue to drop, the ordeal for the global auto and construction industry has just about begun.

December 8, 2008: Recession has struck global and domestic steel industry alike. Some of the major names, in order to insulate themselves from the adverse impact have taken steps which include production cuts and price reduction.

December 8, 2008: Anshan Iron & Steel (Angang) of Northern China has raised its hot rolled coil ex-works prices for delivery in December by RMB 100 per ton ($15 per ton).

December 8, 2008: West Bengal has planned a cautious approach to steel projects, given its limited resources.

December 8, 2008: NMDC Spice International has decided to hold back its proposed acquisition of two iron ore mines in Armenia after the ore price crash.

December 8, 2008: National Mineral Development Corporation (NMDC) has sought permission from Karnataka to set up a 5-million ton steel plant in Bellary.

December 8, 2008: The Centre has declared a 4 percent lowering of the Cenvat rate for the remaining four months of the fiscal to help increase domestic demand. Steel products will cost Rs 1,600 a ton less now.

December 8, 2008: The government's decision to cut export duty on iron ore -- to zero on fines and to five per cent on lumps -- has brought some relief for miners as the move is expected to give the much-needed boost to the industry reeling under the pressure of low demand and fall in prices.

December 8, 2008: Steel majors JSW Steel and Ispat Industries will pass on the 4 per cent reduction in the ad valorem Central Value Added Tax (Cenvat) rate to the consumers, effective midnight.

December 8, 2008: Steel imports from non-European Union (EU) countries fell from January to September, though Italy was an exception, according to Italian Steel Association data.

December 8, 2008: US flat rolled steel prices slipped across the board as buying was limited. The reference price of hot rolled coil dropped $65 to a midpoint of $550 per short ton ex-works Indiana, according to Platts.

December 8, 2008: Cold-rolled steel coil prices in China kept rising in both, the domestic and export markets. Traders are doubting its sustainability due to weak demand at home and abroad.

December 8, 2008: ArcelorMittal has decided to increase production if demand rises next year. It had cut output by up to 35 percent a few months ago due to slackening demand and prices.

December 8, 2008: Growth has been the byword for Steel Authority of India's Bhilai Steel Plant during the first eight months of 2008-09.

December 6, 2008: Essar Steel aims to stick to its target production of 3.6 million tons (mt) of the metal by the end of this fiscal. It says it will not cut output and sees demand picking up in the near future.

December 6, 2008: Lack of demand has led to a 24 percent drop in iron ore loading for exports for East Coast Railway (ECoR) in October, compared to last year.

December 6, 2008: Tata Steel has registered a 27 percent increase in its production in November at time when most steel companies are lowering output.

December 5, 2008: The Jharkhand government plans to go ahead with four integrated steel plants of 4.4 million tons capacity by renewing memoranda of understanding worth Rs 2,550 crore.

December 5, 2008: Karnataka has formed Mining Policy 2008 to encourage mining of iron ore and other minerals only for value additions.

December 5, 2008: Surya Global Steel Tubes (SGST) has plans to set up a greenfield steel pipe manufacturing plant in Bhuj, Gujarat.

December 5, 2008: The Commerce Ministry's move to investigate alleged dumping of stainless steel by countries has met with resistance.

December 4, 2008: The quantum of steel import permit applications for November stood at 2,277,000 net tons, 23 percent lower than the 2,967,000 permit tons in October 2008 and the total preliminary imports of 2,964,000 net tons, in October stated the American Iron and Steel Institute (AISI).

December 4, 2008: Turkish flat products market is maintaining a sluggish sentiment along with volatile prices.

December 4, 2008: Plates seem to be following the footsteps of hot rolled coil and other US products which witnessed significant slides in recent weeks.

December 4, 2008: Corus' profits are expected to drop sharply in the second half of the year on the back of lower steel prices.

December 4, 2008: Tata Steel has been allowed to bid in the relaunched round for the $1.5-billion Western Cluster iron ore project in Liberia.

December 4, 2008: Orissa Mining Corporation (OMC) may establish an overseas division to ensure supply of raw materials to all state industries and take advantage of globalisation.

December 4, 2008: National Mineral Development Corporation (NMDC) has planned a 40 percent reduction in the price of iron ore.

December 3, 2008: At a juncture when there is a decline in the steel consumption, Bhilai Steel Plant of Steel Authority of India Limited (SAIL) has posted an impressive all round growth during the initial eight months of the fiscal 2008-09.

December 3, 2008: Tata Steel's operating profit grew 80 percent in the quarter ended September 2008, compared with the same period last year.

December 3, 2008: The steel and mines department has come up with a modification to the agreement signed between Orissa Mining Corporation (OMC) and Vedanta group for bauxite mining at Niyamgiri Hills in Kalahandi district.

December 3, 2008: Orissa Mining Corporation (OMC) has lowered the price of iron ore in response to the state steel and sponge iron units' demand for a reduction to cope with the slowdown.

December 3, 2008: Tata Steel's greenfield projects in Jharkhand and Chhattisgarh have been stopped for the time being in view of the economic circumstances.

December 3, 2008: Rourkela Steel Plant (RSP) has managed to hit a record in production of hot metal and crude steel during the first eight months of the current fiscal.

December 2, 2008: Shagang of eastern China announced that it is lowering the prices of hot rolled coil for delivery in December by RMB 150 per ton ($22 per ton) while the prices of commercial plate by RMB 1,900 per ton ($279 per ton).

December 2, 2008: The Himachal Pradesh government has offered 100 bighas in the Kandrori area of Kangra district for Steel Authority of India's (SAIL) proposed steel plant.

December 1, 2008: A task force has called for a ban on mining in the Western Ghats.