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December 02, 2008

Recession reports - TATA Corus to cut work hours in Netherlands

Dutch news agency ANP reported on that TATA Corus has applied for Dutch government financial aid to temporarily reduce the work hours of 4,600 workers to cope with the global economic slowdown.

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Recession reports - Rautaruukki cuts steel production

Rautaruukki is to adjust steel production and other operations in line with weakened demand and stock levels. Due to the weakened market situation, Rautaruukki now expects comparable consolidated net...

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Indian iron ore imports remain flat compared to last week

The China Chamber of Commerce of Metals, Minerals and Chemicals Importers and Exporters has released the average reference prices for import transactions of Fe 63.5% Indian iron ore concluded last...

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Essar Steel and Kobe Steel sign umbrella agreement

Essar Steel Limited has announced an umbrella agreement with Kobe Steel Ltd of Japan. The agreement was signed by Mr Dilip Oommen CEO (India) Essar Steel and Mr Koichi Onishi executive officer of...

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Dongkuk Steel to cut rebar steel prices by 11%

Reuters reported that Dongkuk Steel Mill would cut prices of rebar by 11% to bring prices of its construction steel in line with that made by a rival. Its local peer Hyundai Steel said that it would...

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FMG surges amid talk of MMK stake sale

Bloomberg reported that Fortescue Metals Group Limited rose to the highest in 4 weeks in Sydney trading on speculation OAO Magnitogorsk Iron & Steel had completed selling its stake.

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Price Index
  01-Dec 28-Nov
ILPPI 7196 7278 Down
IFPPI 7284 7299 Down
INDSPI 7238 7288 Down
What is it?

 

Currency Rates
02 Dec, 2008
USD 1.0000
AUD 1.5248
BRL 2.2937
CAD 1.2360
CNY 6.8175
EUR 0.7790
GBP 0.6500
INR 49.9064
JPY 95.3601
RUB 27.7498
ZAR 9.9460
Source: OANDA.com

 

Metal Rates
01 Dec 2008
Cash Seller & Settlement
Zn 1189
Ni 9755
Sn 12750
Al 1690
Cu 3595
Source: LME.co.uk

 

Baltic Dry Index
01 Dec, 2008
BDI 700
BCI 833
BPI 590
BSI 610
Source: DryShips.com

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