IRON and STEEL
Neelachal Ispat Nigam Ltd (NINL)- India’s largest and state owned steel grade pig iron manufacturer & exporter has floated fresh price circular for both steel & foundry grade. Prior to this, the last offers floated by company on 5th Jul'19, after that no fresh offers were quoted.
The latest offers for steel (N1) grade by NINL floated at INR 22,500/MT (USD 314) as against last offers during Jul at INR 25,400/MT (USD 354).
Similarly the fresh offers for Foundry grade (Si. 1.25% to 2.25%) pig iron reduced and current offers are at INR 23,000/MT (USD 320); prices are basic, ex-Cuttack, East India.
As per close sources with the company, MMTC has cancelled allotment in yesterday's auction which was floated to sale about 10,000 MT basic grade pig iron, hence similar quantity has been put on sales in merchant market through the open price circular.
Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is going to hold an Iran-India trade conference on February 17, TCCIMA portal announced.
Sunflag Iron and Steel Co. (part of Sunflag Group) selected Danieli India Ltd. to supply the drives and process automation for a new, 320,000-tpy SBQ bar mill in Bhandara, Maharashtra, India.
Zac Hollis, Head of Sales, Service and Marketing, Skoda Auto India Ltd. has communicated of the upcoming VisionIN model concept before its global premiere at the Auto Expo’20, coming up between 5th and 12th February’20.
Official Opening of Mingzhi-Tech GmbH European headquarters in Leipzig
Indian steelmaker Essar Steel will no longer offer its products to European markets, sources close to the matter said.
India's state-controlled NMDC plans to lift its iron ore output significantly in the 2020-21 fiscal year starting 1 April, anticipating robust sales and higher prices on the back of a supply shortage.