NEWS: 05.09.2013
Top Head Lines for the Day
*** Indian ferro-manganese prices to fall in short term due to thin deals amid weak steel outlook
*** Russian ferromanganese market quiet
*** Russian silicon metal market sees more inquiries
*** Russian low carbon ferrochrome market sees few activities
*** Russian ferromolybdenum price likely to down
*** Selenium suppliers hold back from selling in Russia
*** Movement of Russian magnesium ingot market slows down
*** India's steel mills raise HRC export prices
*** Holidays hit Japanese/Korean scrap markets
*** US shredded scrap price declines $10/lt
*** US silico-manganese market rides on ferro-silicon rally
*** US ferro-manganese eyes pick-up, consolidates gains
*** US ferro-silicon market climbs again on AD case
*** Indian ferro-silicon prices to rise in short term aided by tight supply, weakening rupee
*** Indian ferro-manganese prices to fall in short term due to thin deals amid weak steel outlook
*** Selenium demand recovers in India
*** Indian tungsten market runs slowly
*** South Korean magnesium alloy traders returning to the market
*** European ferrosilicon figures unchanged still under pressure
*** European selenium metal market sees no change
*** US ferrosilicon prices sustain rally amid ITC investigation
*** Ferrovanadium producers skeptical about price increases for vanadium until Chinese
*** US silicon metal prices stabilize
*** Nickel cathode trade goes slow in domestic market in china
*** Secondary lead market slow in china
*** Tin concentrate market in a chaos in china
*** Chinese ferrovanadium market keeps going up
*** Antimony ingot market slow after the price increase in china
*** Chinese zinc ingot prices decrease slightly in china
*** Indian TMT bar price moves up
*** Tellurium offers stable in China
*** Chinese bismuth ingot prices retreat
*** Indian ferrovanadium converters rejecting low bids
*** Indian ferromolybdenum market remains firm
*** Indian silicomanganese producers appear holding back quotations on price instability
*** US Stainless steel scrap prices drop
India's steel mills raise HRC export prices
Because of the depreciation of the Indian Rupees, hot rolled coil HRC import price is not workable for India customers.
Most of the steel mills have increased prices of their products and in line with that the steel scrap prices also rose up simultaneously with active buying from the
Steels Mills.
Malaysian iron ore export market sees a steady condition
The current Malaysian iron ore export market runs sluggishly together with few deals concluded. The price of 60%min iron ore is USD105dt FOB Malaysia and the price of 58%min iron ore is USD95dt FOB Malaysia. The future market is hard to see a prosperous scene within a short period.
IIF Delhi takes initiative with Central Govt.
A meeting was held jointly by Development Commissioner , MSME & Joint Secretary ,Deptt of Commerce ,Ministry of Commerce in Nirman Bhavan on 21-8-2013 to review the declining trends in exports & they sought our recommendations for short term & long term policy interventions for their consideration.
We have submitted the recommendations as stated by Mr. A K Anand .Similarly earlier in the last week of August , A meeting has been scheduled on 11th Sep 2013 at 3 PM with Dr Parthasarathy Shome ,Adviser to Finance Minister to discuss our representation regarding withdrawal of recently imposed import duty on metal scrap .
Leading Foundry experts may kindly send your specific inputs in brief in support of our case to take up the issue strongly for waiver of Import duty.
Western Australia’s iron ore prices fall in Q4
It’s reported that Western Australia ’s iron ore prices are expected to fall by around 7% from a quarter ago to US$118/ton FOB in the fourth quarter of this year.
In fact, the spot iron ore prices hovered at around US$110/ton FOB during June and August. However, it started to rise since July.
In August, the spot iron ore prices jumped to US$140/ton FOB.
Indian Ferrous Scrap Foundries moves up
The reasons stated are as follows.
In the past a few days that due to dollar – rupee fluctuation, market has been erratic in all the fields and in particular, our scrap materials prices have gone up very high, because of reasons like :
Mini steel plants are hesitant to go for imports because of dollar fluctuation & increase in customs duty, not modvatable;
Power supply in all the States has been restored fully, due to which Mini steel plants consumption has been increasing. Demand is more but material is not available in the market;
Ingot, Billets & TMT prices have gone up drastically by Rs. 3 to Rs. 4 per kg. in the market.
Steel manufacturers like SAIL,etc. have increased their prices for HR / CR coils by Rs. 2000/- per MT. The steel scrap prices are quoted at Rs.1000/= per tonne more than what they have been quoting .
Inductotherm Anniversary Prompts FEF Pledge
60th year inspires $60,000 contribution to metalcasting scholarship institute
To mark its sixtieth anniversary year, Inductotherm Corp. pledged $60,000 to the Foundry Educational Foundation. Inductotherm designsand manufacturing induction melting, heating, holding and pouring systems for processing virtually all types of metals and materials.
FEF was established in 1947 as an independent extension of metalcasting educational programs at colleges and universities nationwide. It manages numerous industry-related scholarships and several memorial funds that support metalcasting education for numerous students enrolled at participating colleges and universities.
The Inductotherm gift was the result of a pledge to contribute $60 for each individual who offered his or her own contact information by scanning an attendee badge at Cast Expo 2013 in St. Louis , in April. The response ensured that the full $60,000 pledge was met.
FEF executive director Bill Sorensen received the check from Inductotherm founder Henry M. Rowan earlier this year at a banquet to long-term employees of the company.
Inductotherm Corp. and the Henry M. Rowan Family Foundation support numerous causes. By contributing to and supporting FEF, the company is helping to ensure metalcasting will continue to have capable and creative engineers and technicians well into the future.