The lower production levels have contributed towards higher iron ore prices which are at ₹2,960 per ton (NMDC; 0-10mm, Fe64 percent), up ₹1,000 per ton on a quarter-on-quarter basis.
Iron ore production in April-August is estimated to be down 35-36 percent on year over same period last year, according to industry sources.
Odisha iron ore despatches were down in August 2020. It is believed that iron ore prices could increase further, with only five out of the 19 Odisha iron ore mines, which were auctioned in March, being operational as of date amid a high export demand.
Also, previous mine owners have time till end-October (previously end-September 2020) to exhaust accumulated inventory, though a further extension in this timeline could partially reduce availability risk.
Continue reading your story on the app
Continue reading your story in the magazine
US Steel fires Electric Arc Furnace to cut carbon costs
Issues maiden green bond to finance project
Seaborne coking coal offers fall in November
Seaborne coking coal offers fell in November as demand weakened amid impact of import restrictions in China, sources said. Spot prices slumped on reports of diversion of coal vessels to other places as Chinese customers were deferring inbound shipments from Australia.
October crude steel production up 3% on month
India’s crude steel production stood at 9.06 million tons (mt) in October 2020, up 0.9 percent over October 2019 and was up by 3.1 percent over September 2020, provisional steel ministry data showed.
Motown sees a dull November sales
“Building on the strong sales momentum that was driven by festive demand this year, the company continues to build high customer excitement through a line-up of technologically advanced and futuristic products.” Tarun Garg, Director - Marketing & Service, Hyundai Motor India
Traffic handled by major ports down 12% till October
The 12 major Indian ports handled 354.82 million tons (mt) of traffic in April-October, lower by 12.43 percent from 405.2 mt recorded for the corresponding period of last year, according to Indian Ports Association (IPA).
Induction furnace route to grow in medium term
Over the years induction furnace route for steelmaking has gained prominence in India.
Coking coal: Rethinking fuel strategy
The recent global geo-political dynamics as well as sharp revival in the steel sector demand post pandemic-induced lockdown have put focus on coking coal, a key input for the steel sector.
Coke sourcing key driver for Tata Metaliks merger with Tata Steel Long Products
Tata Steel has announced the merger of country’s leading producers of high-quality Pig Iron (PI) and Ductile Iron Pipes (DIP) maker, Tata Metaliks into Tata Steel Long Products.
Acquisition of Modern Steels credit neutral for Arjas Steel
Arjas Steel Pvt Ltd’s (ASPL) recent acquisition of Punjab-based Modern Steels Ltd. (MSL) will be credit neutral for the rated entity, believes India Ratings and Research.
Commercial Coal Mine Auction: Dawn Of A New Era
The month of November turned historic with the execution of country’s maiden auction of coal mines for commercial usage that marked country’s transition to a liberalised coal sector that promises access to a fuel on demand at competitive prices without bureaucratic hassles and monopolistic attitude.
Beginning 2021 On A Note Of Hope
As the world inches closer to renewing the normal ways of our existence, Ameya Bundellu gazes into the crystal ball and tells us what travel in 2021 will look like
Centre Set To Launch Portal, App To Capture Tribals' Data
Goa, Odisha To Be First Among States
Today's Indian start-ups are tomorrow's MNCs: PM
The Indian start-ups of today are the Multinational Corporations of tomorrow that can go a long way in achieving the goal of ‘Atmanirbhar Bharat’, Prime Minister Narendra Modi said on Saturday.
One of India’s worst malaria-affected districts, Malkangiri in Odisha, is on its way to win the fight against this scourge
“I inherited my father's responsibilities, not privileges… …but what I learnt from him was how to interact with people and deal with their problems effectively and efficiently”
When his father Biju Patnaik died in 1997, Naveen gave up his jet-setting life and shifted base from Delhi to Odisha to take on his political mantle. As chief minister since 2000, he has brought about an economic and social transformation of the state
Odisha Odyssey: Central & North
We tie up our Odisha exploration series with a visit to the central and northern regions of the verdant state
The recommendations provided in this column are taken from various market sources such as brokers, analysts, dealers and investment strategists, etc. These recommendations may not be backed by strong fundamentals. Therefore we advise readers to use their own discretion before investing in these recommendation
India should test and trace smartly, as it rolls out a national vaccination programme
After nearly a year of struggle, the world seems to finally be entering the conclusive phase of battling the coronavirus.
मंडियों का ओडिशा विकल्प
ओडिशा के विकेंद्रीकृत खरीद के मॉडल के कई फायदे दिरवे हैं लेकिन इसकी कुछ चुनौतियां भी हैं। संजीव मुखर्जी ने लिया जायजा
THE SILENT CHANGEMAKERS COMMUNITY-MANAGED ECOTOURISM IN ODISHA
Minds are powerful and inevitable, if tuned appropriately”—this is the transformational success story that the Forest Department of Odisha has set forth before the world.