Chief Correspondent, Commodities, India
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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.

Jul 24, 2013

Steelmaker JSW joins race to buy Stemcor’s iron assets

NEW DELHI/LONDON (Reuters) – JSW Steel (JSTL.NS: Quote, Profile, Research), India’s third-largest steelmaker, has expressed interest in buying British steel trader Stemcor’s Indian iron ore assets, joining at least three other interested parties, two sources at the companies said.

Among the other firms interested, is steelmaker Jindal Steel and Power (JNSP.NS: Quote, Profile, Research), a firm run by Member of Parliament Naveen Jindal, brother of JSW Steel’s boss Sajjan Jindal.

Jul 24, 2013

Indian steelmaker JSW joins race to buy Stemcor’s iron assets

NEW DELHI/LONDON, July 24 (Reuters) – JSW Steel,
India’s third-largest steelmaker, has expressed interest in
buying British steel trader Stemcor’s Indian iron ore assets,
joining at least three other interested parties, two sources at
the companies said.

Among the other firms interested, is steelmaker Jindal Steel
and Power, a firm run by Indian member of parliament
Naveen Jindal, brother of JSW Steel’s boss Sajjan Jindal.

Jul 23, 2013

Jindal Steel sees iron ore needs trebling

NEW DELHI (Reuters) – Jindal Steel and Power Ltd (JNSP.NS: Quote, Profile, Research) will consume 25-30 million tonnes of iron ore a year by 2015, three times current volumes, and source most of the raw material from abroad, the company’s chief executive told Reuters.

The increased demand for iron ore is in line with Jindal Steel’s plans to expand its production capacity to 11.5 million tonnes in two years from 3.5 million tonnes at present.

    • About Krishna

      "I lead the India commodities team for Reuters in New Delhi. I cover the coal, metals and mining industries with a focus on government policy. Before coming to the capital in April 2013, I headed two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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