India on Monday launched an ambitious mission to soft-land on the surface of the moon and deploy a rover, seeking to become only the fourth country to do so after Russia, the US and China.
Chandrayaan-2, Sanskrit for "moon vehicle," lifted off at 2:43 p.m. local time from the spaceport of Sriharikota in the country's south, Nikkei reported.
The first attempt to launch the mission on July 15 was aborted at the eleventh hour due to a technical glitch. An expert committee, formed to analyze the issue and suggest remedial action, said it had "identified the root cause of the technical snag and all corrective actions had been implemented," according to a brief statement from India's space agency on July 18.
SteelMint in conversation with trade sources indicated that low grade iron ore fines export price have come down sharply following global trend. SteelMint’s assessment for low grade (Fe 57%) iron ore fines is around USD 55-60/MT, CFR China down by USD 10/MT as against being USD 65/MT, CFR China a week before. In a month’s time, low grade fines export assessment has come down by around USD 30/MT.
Indian long steel market observed surge in price range this week, however trades not upto the mark amid sufficient supply and lessened export inquiries.
Vizag Steel also known as RINL, the state-owned steel maker under the Ministry of Steel, had invited tender for export of 10,836 MT billets, 5,418 MT blooms and 8,127 MT wire rod to Nepal on 30th Jul'19.
Indian Ferro Chrome prices have gone up marginally from last week as most producers reduced their production levels in line with poor demand. Limited Quantity is available in the domestic market as producers have reduced their allocation in the domestic market to curb the free fall of prices. However, this has been countered by demand in the domestic market which has remained sluggish.
State-Owned, Odisha Mining Corporation (OMC) conducted the e-auction on 13 Aug’19. Despite low demand in the market, and falling Ferro Chrome prices, OMC received a good response, as the entire quantity was booked at prices approximately 6% higher than the base price. Lower graded material viz., 46-48% and 44-46% received a much higher response as the booking price was 14% higher than the base price.
Higher inventory levels along with tepid demand over inactive trades lead to continual decline in HRC prices in domestic market.