Mining Industries Correspondent
Krishna's Feed
Aug 14, 2013

Rupee’s fall gives a boost to steel exports

NEW DELHI (Reuters) – Steel Authority of India Ltd (SAIL.NS: Quote, Profile, Research), the country’s largest domestic steel producer, expects its exports to double this fiscal year as a weak rupee makes its products more competitive.

Steelmakers such as SAIL and Jindal Steel and Power Ltd (JNSP.NS: Quote, Profile, Research) have been looking to raise foreign sales to offset soft local demand, and SAIL’s chairman C.S. Verma said the fall in the rupee over the past few months has helped.

Aug 14, 2013

Rupee’s fall gives a boost to Indian steel exports

NEW DELHI, Aug 14 (Reuters) – Steel Authority of India Ltd
, the country’s largest domestic steel producer,
expects its exports to double this fiscal year as a weak rupee
makes its products more competitive.

Indian steelmakers such as SAIL and Jindal Steel and Power
Ltd have been looking to raise foreign sales to offset
soft local demand, and SAIL’s chairman C.S. Verma said the fall
in the rupee over the past few months has helped.

Aug 12, 2013

Stemcor’s Indian partner has first option on iron ore mine stake

NEW DELHI, Aug 12 (Reuters) – India’s Saraf family, which
has 23 percent of an iron ore mine owned by metals trader
Stemcor, would be given the first option on buying out the UK
firm if it decides to sell its majority stake, two sources close
to both the sides told Reuters.

Debt-laden Stemcor is exploring options for the mine and JSW
Steel, Jindal Steel and Power and Tata Steel
are some Indian steelmakers to have shown an interest
in it, according to executives at the companies.

Aug 12, 2013

Low-grade iron ore may help tackle steel headache

NEW DELHI (Reuters) – Indian steelmakers are making a big push to use locally mined low-grade iron ore fines that are usually exported, a move that could help the world’s No. 4 steel producing nation boost near-stagnant domestic output and cut imports of the alloy.

India’s steel imports rose 15 percent to an all-time high of 7.87 million tonnes, worth $6 billion, in the fiscal year to March 2013, as output of steelmaking raw material iron ore was slashed by production bans in key states.

Aug 12, 2013

Low-grade iron ore may help tackle India’s steel headache

NEW DELHI, Aug 12 (Reuters) – Indian steelmakers are making
a big push to use locally mined low-grade iron ore fines that
are usually exported, a move that could help the world’s No. 4
steel producing nation boost near-stagnant domestic output and
cut imports of the alloy.

India’s steel imports rose 15 percent to an all-time high of
7.87 million tonnes, worth $6 billion, in the fiscal year to
March 2013, as output of steelmaking raw material iron ore was
slashed by production bans in key states.

Aug 7, 2013

India relaxes steel import standards

NEW DELHI, Aug 7 (Reuters) – India said on Wednesday some
steel products can be imported for certain critical applications
without local quality certification, a move that could further
hit domestic suppliers after imports rose 15 percent last fiscal
year.

Imports into India, the world’s fourth-largest producer,
rose to 7.87 million tonnes, worth $6 billion, in the year ended
March 2013 as mills operated below capacity due to a shortage of
iron ore. Japan, South Korea and China are the top exporters.

Jul 31, 2013

Mines ministry seeks cut in iron ore export duty

NEW DELHI (Reuters) – India’s mines ministry is seeking a cut in the iron ore export duty after a sharp fall in overseas shipments, days after the prime minister spoke about increasing exports to tame the country’s current account deficit.

India was once the third-largest exporter of the steelmaking raw material, but shipments plunged more than 80 percent in three years to hit 18 million tonnes last fiscal year. The lower exports have helped cushion global iron ore prices.

Jul 31, 2013

India mines ministry seeks cut in iron ore export duty

NEW DELHI, July 31 (Reuters) – India’s mines ministry is
seeking a cut in the iron ore export duty after a sharp fall in
overseas shipments, days after the prime minister spoke about
increasing exports to tame the country’s current account
deficit.

India was once the third-largest exporter of the steelmaking
raw material, but shipments plunged more than 80 percent in
three years to hit 18 million tonnes last fiscal year. The lower
exports have helped cushion global iron ore prices.

Jul 29, 2013

Odisha tribals set to block Vedanta bauxite project

BHUBANESWAR, India/NEW DELHI (Reuters) – Vedanta Resources Plc’s (VED.L: Quote, Profile, Research) plans to mine bauxite to feed its alumina refinery in Odisha have suffered a blow after a majority of local residents voted against mining around the hills they consider sacred.

Failure to source bauxite from within the state might force the London-listed company to reconsider its 1-million-tonne-per-year plant, which has already been shut several times due to a shortage of the raw material.

Jul 29, 2013

India tribal community set to block Vedanta bauxite project

BHUBANESWAR, India/NEW DELHI (Reuters) – Vedanta Resources Plc’s plans to mine bauxite to feed its alumina refinery in the eastern Indian state of Odisha have suffered a blow after a majority of local residents voted against mining around the hills they consider sacred.

Failure to source bauxite from within the state might force the London-listed company to reconsider its 1-million-tonne-per-year plant, which has already been shut several times due to a shortage of the raw material.

    • About Krishna

      "I have been covering India's metals and mining industries from New Delhi since April Fool’s Day, 2013. Before that I led two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies. I have closely followed the solar and shipping industries and love to write on cricket whenever I can."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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