Indian state copper miner Hindustan Copper is in the initial stages of an $800 million expansion program, Resources Monitor reported Tuesday.
Currently, Hindustan produces around 40,000 tonnes of copper per year, but the company plans to increase production to around 200,000 tonnes by 2025.
Construction is underway at a major new underground mine in the state of Madhya Pradesh, according to Resources Monitor, and expansions are planned at its operations in the states of Jharkhand and Rajasthan.
Hindustan Copper’s production of 40,000 tonnes is only a small proportion of the 650,000 tonnes that India used last year domestically in the electrical, construction and transport industries, the report reads.
Steel Authority of India Ltd (SAIL) has reduced basic grade (steel grade) pig iron offers by around INR 700/MT (USD 10) from its Bhilai Steel Plant (BSP) based in Central India, SteelMint learned from market sources.
Imported scrap offers to South Asia plunge below 2 years low levels on limited demand
Indian iron ore export volumes for July’19 stood at 2.13 MnT, up 19% as against 1.79 MnT in June’19. On yearly basis, exports increased significantly compared to July’18 at 0.17 MnT.
Alang - Gujarat, has registered sharp growth in imports of scrapped ships in Jul'19 and the volume reached 7 months high since Dec'18, as per custom data maintained by SteelMint.
JSW Steel, India's largest private steel producer has released its monthly crude steel output results today for Jul'19. The company reported decline in its production numbers over dull demand and low buying prevailing in domestic market.
Indian rebar prices of medium and small scale mills hit nearly 2 years low amid constant downfall over dull demand amid heavy monsoon season which has put construction activities on hold. As per SteelMint's assessment the prices slumped by INR 500-1,500/MT (USD 7-21) W-o-W.