Indian government unlikely to roll back export duty on iron ore - Report

Zee News citing Indias finance ministry sources reported that Indian government is unlikely to roll back the duty of INR 300 per tonne on export of iron ore imposed in budget 2007-08 despite intense lobbying by the mining industry.

The report quoted a senior official of finance ministry as saying that "Armed with steel industry's assurance to hold prices for the time being and raise production by 40 million tonnes to 45 million tonnes in next three years, Finance Minister will find it easy to convince the Parliament about the need of export duty.

The report adds that steel industry has given a commitment to Mr P Chidambaram Indias finance minister to increase production capacity to 80 million tonnes to 85 million tonnes by 2010 from the present level of around 40 million tonnes, which will help sustain 8% to 9% GDP growth.

Chhattisgarh tops the investments in 2006

It is reported that as per Indias Department of Industrial Policy and Promotion's latest report, state of Chattisgarh attracted highest investment in 2006. Although Chhattisgarh has nearly 20% of India's iron ore deposits and about 18% of the country's coal reserves, but more than 45% of its 20.8 million people live below the poverty line.

As per report the amount of investment in various states is as under

Amount is in INR billion

Dr Raman Singh chief minister of Chattisgarh told IANS Chhattisgarh is witnessing a silent industrial revolution. The majority of investments are going to poverty hit areas such as Bastar and Surguja to take the benefits of the revolution to rural masses and village people.

Metallurgical industries across the country received the second highest investment worth INR 1,441 billion.

The DIPP, which works under the union commerce industry, was established in 1995 and reconstituted in 2000 with the merger of the Department of Industrial Development.

Coal India to invest INR 18,000cr to up production

Coal India Limited will invest INR 18,000 crore to raise production by 160 million tonne to 521.5 million tonnes within the 11th plan period ending 2011-12 thus targeting an annualized growth rate of 9.4%. The entire investment will be made through internal accruals.

CIL has expanded production by 81 million tonnes in the 10th plan period ending in 2006-07 to 360.94 million tonnes at the backdrop of a coal demand of 470 million tonnes. Within the 10th five year plan period, 97 coal mining projects were approved by the Central government, out of which 81 were sanctioned. CIL has already identified 119 projects, which can produce 245 million tonne.

Mr PS Bhattacharya chairman of CIL said that "The sanctioned projects will provide CIL with an incremental production of 112 million tonne by 2011-12." CIL hopes to get another 70 million to 75 million tonnes from projects that would be sanctioned within the 11 five year period.

According to the integrated energy policy projections, the coal demand is expected to rise to 731 million tonne while the coal production is expected in the region of 680 million tonne, including captive production of 118 million tonne, within the 11th plan period. Captive production currently stands at 18 million tonne. The remaining 51 million tonne demand would be met through imports.

NDMC plans to formed a JV for foreign coal venture

Mr B Ramesh Kumar chairman and MD of National Mineral Development Corporation said that it plans to set up a JV with PSUs Rashtriya Ispat Nigam Limited, National Thermal Power Corporation and Coal India in overseas coal mining and the deal will be signed soon.

As per report NMDC will invest INR 9,000 crore on an iron and steel plant at Nagarnar, Chhattisgarh, an integrated iron and power plant at Jagadalpur, Chhattisgarh, and a pellet plant at Donimalai, Karnataka.

Mr Kumar added that We are in talks with SAIL and RINL for setting up the integrated steel plant in Chattisgarh. We plan to spend INR 3,500 crore for building new infrastructure and open up new mines to increase iron ore production to 50 million tonnes from 27 million tonne tonnes by 2014-15.

He also said that NMDC plans to reduce iron ore exports by half to 3.5 million tonnes in 2007-08 from 6.04 million tones in 2006-07 following a change in policy of the Centre towards more ore for domestic steel units. NMDC plans to invest INR 18,000 crore in the 11th plan on its expansion activities.

NMDC excavated 36.71 million tonne of ore and raised the supply to domestic industries to 22.50 million tonnes against 18.80 million tonne in the previous year, which is 76% of the output. Last month NMDC had petitioned the government against the imposition of duty on iron ore exports, saying the levy would cause a loss of INR 150 crore.

CIL to introduce new technologies & equipments via profit sharing model

BL reported that Coal India Limited is planning to evolve a new commercial structure of profit sharing with equipment suppliers with the dual objective of increasing production and absorption of new technologies.

Mr PS Bhattacharya chairman of CIL told Business Line that since preliminary experiments with such a model have yielded positive results, the company is now involving all its subsidiaries in the profit sharing model to increase production in difficult underground mines. Preliminary experiments were undertaken at the Chirimiri mines of South Eastern Coal Fields and the Tansi mines of Western Coalfields.

Mr Bhattacharya said that "The equipment suppliers would have to provide certain guaranteed level of production and would have to be involved with us in the operations for the first couple of years. As and when the production exceeds the guaranteed levels, the equipment suppliers would have a share of extra profit arising out of the higher production in the form of incentives."

Mr Bhattacharya said that "While the subsidiaries would be identifying the probable mines where such an arrangement could be introduced, the parent company would engage itself in identifying the consultants who would take the process forward. We have invited expression of interests from global consultants.

He added that both the identification process could take around four to five months to be completed. Once the mines are identified and the consultants are finalized, it would be for the consultants to shortlist the mines where the profit sharing model would be introduced and equipments suppliers would be involved.

Mr Bhattacharya said that the various equipment and technologies that the company plans to introduce in the Indian coal mining sector through this model include continuous miners, shearers, lump breakers, stage loaders, augur cum drilling machines, powered support longwall technologies and high wall mining technologies and some more.

POSCO to set up steel service center in New Delhi Report

YIEH reported that POSCO is planning to set up a flat steel sales & service center at New Delhi in India at an investment of USD 14.5 million.

As per report, the service center will have slitting and leveling facilities and will have processing capacity of 100,000 tons to supply for automaker and vehicle parts and home appliances industries.

Indian cement producers not worried about likely imports

It is reported that Indian cement industry, although likely to get hit by the Indian governments decision of removing countervailing duty and the additional import duty on cement import, is not worried about imports or the impact on domestic prices. This recent concessions are in addition to the earlier decision of abolishing the import duty on cement.

Mr N Srinivasan vice CMD of India Cements Ltd told that cement price was decided by the demand supply situation and that domestic cement prices are still competitive despite the governments decision to do away with the countervailing duty. He added that this move gives the overseas manufacturer an advantage of INR 600 a tonne over local producers who pay excise duty.

Mr Srinivasan said that Despite the concessions imports were not happening because domestic prices were competitive. This proves that the cement prices were not high.

Mr Srinivasan however added that The cement industry is hurt that the government was putting extreme pressure on it, especially in a free market condition.

NTPC offers stake in power plants to Omani investors

Reuters reported that National Thermal Power Corporation has offered a stake in projects requiring a total investment of USD 3.8 billion in southern India to some Omani investors.

The report cites Mr T Sankaralingam chairman of NTPC as telling a gathering of potential Omani investors that "We have identified three power projects for foreign equity participation. The first power project in Kerala will cost USD 1.48 billion. The two other projects in Tamil Nadu will cost USD 2.29 billion. We are thinking of offering an 11% to 25% stake in each of the three projects.

The Kerala project is a 1,950 MW gas powered plant and the two in Tamil Nadu are to be coal based and with a capacity of 1000 MW each.

Shipping Ministry plans higher draft at major ports

It is reported that Indias shipping Ministry is contemplating an action plan for the next five years to increase the draught in the major ports in the country up to 18 meters to handle bigger size vessels. Most of the ports in the country are having less than 14 meter draught and have to achieve 14 meter draft and later ports depending on their requirements have to increase the draught to 16 meter, 18 meter and 20 meter respectively in later stages.

Shipping ministry has prepared an action plan to increase the draught in major ports as under

Draft in meters

Mumbai Port 2006-07 shipments cross 50 million tonne marks

Mumbai Port has handled 52.36 million tonnes of cargo in 2006-07, the highest ever in the history of the port up by 18.48% YoY as against 44.19 million tonnes in 2005-06. Higher productivity has also boosted the port's operating surplus and according to provisional figures, operating surplus increased to INR 228 crore from INR 178 crore in 2005-06.

All types of bulk and general cargoes registered a significant growth. POL (petroleum, oil and lubricants) increased by 15.80%, iron and steel 11.18% and motor vehicles by 68.28%. Wheat and sugar recorded manifold rise in volume. However container throughput has shown a decline from 156,000 TEUs in 2005-06 to 138,000 TEUs in 2006-07. Mumbai Port achieved single day productivity record in handling sugar at 5,202 tonnes in bags, wheat at 6,603 tonnes, steel at 7,611 tonnes and coal at 17,200 tonnes.

Mr AK Bal deputy chairman of Mumbai port told media that Mumbai Port could achieve a higher throughput as the port has been responsive to the changing traffic pattern. He said "When the container traffic started slowing down, we focused on bulk, POL and general cargo. It was the port's ability to handle multi cargo traffic that enabled Mumbai to achieve this growth.

Mr Bal said that Mumbai Port has created a special facility for handling project exports for shipment of large equipment and offshore installations. He said "We'd improved road and rail connectivity, facilitating easy movements of cargo in and out of the port. At the same time, we could also attract higher coastal traffic.

Mumbai Port has plans to set up an offshore container terminal and an oil jetty. Tenders have also been called for creating a modern cruise terminal to handle the growing number of cruise ships.

MEPS upgrades its carbon steel price forecast

UK based steel consulting house MEPS has modified its carbon steel flat products forecast in line with the new market conditions under which further gains are now anticipated into the second half of this year as the threat from competitively priced imports from China and Russia diminishes.

MEPS said that However, substantial quantities of new capacity are reported to be coming on stream in China in the coming months. This is likely to put negative pressure on local prices which will already be suffering from lower volumes of business into foreign markets as a result of the loss of the export tax rebate on certain products. Reduced export prices could follow thus reversing the current positive sentiment around the world. Lower Asian values could extend into the autumn and winter in the northern hemisphere.

In the long products sector, MEPS expects scrap prices to remain buoyant for a few more months ahead as Chinese steel production continues to be strong and has adjusted its last months forecast accordingly. MEPS said Decreases in the export tax rebates are likely to limit sales to foreign markets and slow the growth rate in steel output in the country. As a consequence, we believe that scrap prices will start to decrease before the middle of the year. Traditionally strong steel market demand in the late springtime, could delay the decline in global steel prices until the third quarter of 2007 and into 2008.

China's ferroalloy export growth to slow down

Platts citing Industry experts reported that China's net exports of ferroalloys will be maintained at around 10% of the total production to reach at around 1.5 million tonne per year to 1.7 million tonne per year in the next few years as the rate of growth of Chinese exports has been on the downtrend due to increased domestic demand of about 11 million to 12 million tonne per year for producing 450 million tonnes to 500 million tonnes of steel every year.

Mr Xie Xinmin consultant and former chairman of China Ferroalloys Industry Association while speaking at the Metal Bulletin 8th Asian Ferroalloys Conference in Hong Kong recently said that China's ferroalloy export growth had slowed due to growing consumption in the local market. He said "Strong domestic demand reduces the proportion of the country's ferroalloys exports where China's proportion of net exports declined from 27.07% in 1998 to 12.85% in 2005 and 12.17% in 2006. Mr Xie informed that China produced 14.33 million tonnes of ferroalloys in 2006 with about 2.36 million tonnes were for exports to the global market.

Mr Xie noted that the Chinese ferroalloys industry continued to face concerns over serious overcapacity, low operation rate and backward production facilities. He said "Many ferroalloys plants in China are sparsely located in different areas and it takes extra time and efforts to regulate the sector. The ferroalloys industry in China is still facing the problems of overcapacity, power shortage, environmental concerns and financing.

He added that "Among a total of about 1,530 ferroalloys producers in China, only about 25 of them have an output capacity at above 100,000 tonne per year, 75 of ferroalloys producers were at 30,000 tonnes to 100,000 tonne per year, 200 at 10,000 tonnes to 30,000 tonne per year and the majority of producers numbering about 1,200 are with output capacity at below 10,000 tonne per year.

Mr Chen Renhua deputy GM of Baoshan Iron & Steel Co Ltd echoed the view and added that "The iron and steel industry in China stimulates both ferroalloy production and consumption in the country but China is still seeing more supply than demand." He added that the competitiveness of the country's ferroalloy industry could enhance through mergers and acquisitions, technology innovation, reduced exports through export tax imposition and tightening environmental protection policies. He added that in 2007 domestic consumption of ferroalloys was estimated at about 11 million tonne accounting for 50% of the total production capacity of China.

Evrazs Vitkovice Steels 2006 profit down by 14.65% YoY

It is reported that Evraz Groups Czech steel plate maker Vitkovice Steel made net profit worth CZK 2.347 billion in 2006 down by 14.65% YoY as compared to CZK 2.75 billion in 2005.

Its 2006 sales amounted to CZK 15.154 billion up by 5.62% YoY as compared to CZK 14.348 billion in 2006 and its operating profit increased to CZK 3.3 billion.

Vitkovice Steel with about 1,600 staff is the third largest Czech steelworks with annual output of about a million tonnes of steel. Evraz Group bought the company for over CZK 7 billion in 2005.

CSN interested to buy Ferteco from CVRD

BNamericas reported that Brazilian integrated steelmaker CSN would be interested in acquiring local iron ore miner Ferteco if the company is put up for sale.

Mr Juarez Saliba mining director of CSN told reporters "If CVRD decides to give up Ferteco CVRD could consider CSN as a serious candidate to acquire the company. We would be willing to purchase Ferteco."

According to a 2005 decision from antitrust authority Cade, Brazilian mining and metals group CVRD must either sell Ferteco or give up its right to purchase excess iron ore from CSN's Casa de Pedra mine. But CVRD plans to continue to appeal the watchdog decision in courts.

The new wave of zinc mine capacity

According to Metals Insider analysis, the fortunes of the zinc market in 2007 will be closely tied to the speed at which new and restarted mine capacity comes on stream because if all the projects come on stream even approximately on time, the cumulative impact will be around 1 million tonnes per year of mine capacity over the next couple of years.

The following table lists the main contributors to higher mined zinc production in 2007 and 2008. Its worth stressing that these are fresh additions to capacity, although they include re starts such as Lennard Shelf in Australia and what is shaping up to be the wholesale reactivation of the zinc mining sector in Tennessee in the US where both Glencore and Tennessee Valley Resources are working to restart mothballed operations.

Rapu in the Philippines is the most obvious exception. It was originally due to start up production at the end of 2005 but two toxic spills that year and then two typhoons at the end of last year mean that it is only now ramping up to production. Aur Resources has reported some minor slippage in getting its Duck Pond mine on stream, but only by a matter of a few months. Start-up is now seen this quarter rather than last quarter as originally expected.

Two projects, however, have been seriously held up at the permitting stage the Angas project in Australia and the bigger Dairi mine project in Indonesia. Neither Terramin nor Herald Resources have released any update since their Q4 reports. Herald has been continuing preparatory work on the mine-site and Terramin seems to be ready to go once it has received its last environmental permits.

The really big addition to capacity this year is going to come from San Cristobal, which seems still on track for Q3 2007 start-up, although further negotiations on tax rates and royalties are expected with the Bolivian government, which has taken a hard nosed attitude to foreign companies in the natural resource sector.

Comprehensive report on Indian steel sector

The Indian steel industry is poised for massive expansion. Dramatic consumption growth over the last few years has stimulated enormous expansion plan, facilitated by unexploited iron ore raw material base. India is now being hailed as the new China, where crude steel production soared from less than 100 million tones in 1995 to over 400 million tones in 2006.

Indian crude steel output at just 38million tonnes in 2005 is starting from a much lower base, and the economic steel- consuming structure of China is substantially different from India. Nevertheless, India has recently established a long-term goal of raising crude steel production to 100 million tonnes per annum by 2020.

UK based GFMS Metals Consulting in an innovative way and value for money report on Indian steel industry includes complete statistical coverage of the industry, an unbiased and frank assessment of growth expectations, a base case outlook for each steel product & the industry as a whole with a clear view of potential risks, an assessment of raw material availability and trends and production, trade and consumption forecasts out to 2011.

The report coverage includes historic production, trade & apparent consumption of carbon steel both long and flat products, raw materials, producers, economic environment, political and other risk factors.

If you are interested to know more about it please visit http://www.steelguru.com/GFMS_MC/indian_steel_report.php or send a mail at research@steelguru.com

Mitsui OSK Lines to add 44 iron ore carriers

Mitsui OSK Lines Ltd has announced a major expansion of the company's iron ore carrier fleet, with a proposal to launch 44 new vessels. The move is part of MOL's growth strategies in the new midterm management plan MOL ADVANCE which began on April 1st 2007. MOL ADVANCE focuses on the allocation of management resources in growing fields of the ocean shipping industry.

MOL expects that production of crude steel will continue to grow particularly in China where major players in the industry are restructuring and integrating their operations and is expanding its large scale fleet with various types of vessels to meet diverse customer needs.

MOL has already signed long term contracts for half of the 44 vessels to be newly built and is negotiating contracts to have 60% of the all new carriers sail under long term agreements.

Under this initiative, MOL's iron ore carrier fleet, 118 including Cape size and Panamax vessels as of March 31st 2007 will increase in total about 150 vessels by March 2013, including about 120 Cape size carriers and about 30 Panamax ships.

Focus Minerals to restart Nepean nickel mine in WA

Australia's Focus Minerals Ltd has announced that it plans to restart mining operations at its Nepean nickel project near Coolgardie hamlet in Western Australia within the next 12 months.

Focus Minerals Ltd in a statement said that "Focus anticipates completing feasibility work on the project in the September 2007 quarter, with the aim of commencing mine development early in 2008. The project is based on an inferred resource of 409,000 metric tons of ore grading 2.38% nickel."

The project is based on an inferred resource of 409,000 tonnes of ore grading 2.38% nickel. The Nepean mine produced about 2,000 tons of metal a year for 17 years until it ceased operations in 1987 from ore grading 3% metal.

A preliminary study indicated the project could produce a significant return at nickel prices now ranging between AUD 50,000 per tonne and AUD 60,000 per tonne.

Mirabela Nickel orders SAG and Bar mill to Outokumpu Technology

Mirabela Nickel Limited announced that it has awarded the contract for the purchase of the SAG Mill and Ball Mill for its Santa Rita nickel sulphide project in Bahia State of Brazil to Outokumpu Technology Pty Ltd.

The total value of the contract is USD 20.96 million. Expected delivery Ex Works is 85 weeks for the Ball mill 90 and weeks for the SAG mill, which is consistent with a schedule for commissioning of the project in early 2009.

These two mills are the most substantial part of the long lead time equipment items for the Santa Rita project and this timely award of the contract to Outokumpu will significantly de risk the implementation schedule for the project. Key long lead time insurance spares including girth gears and motors for both mills have been included in the order.

Mirabela Nickel also said that the bankable feasibility study is scheduled for final delivery in May 2007 and that it now has adequate encouragement from the BFS study to proceed with the mill order above.

Asian coal prices expected to rise

It is reported that Asian coal prices are likely to rise due to strong domestic demand in China and Indonesia as well as Australian port congestion.

Mr Colin Gubbins director of The McCloskey Group told the McCloskey Asian coal conference in Jakarta that Far Eastern prices will be firm thanks to shortages in China and a continuing increase in demand in India and Korea. Demand from China and India will grow by 47.6 % and 17 % respectively this year, leading to a 6.1% increase in demand in Asia to 325 million tonnes in 2007. He said that there is a risk of the Atlantic coal market being oversupplied in 2007 but added that the Asian market was on fire and only Indonesia can douse the flame of shortage.

Mr Kaz Tanaka VP director of PT Arutmin Indonesia a unit of PT Bumi Resources Tbk said that coal supply to the Asian market had been hampered by queues at Australian ports. He said "Demand for coal has been fuelled by the growing economies of China and India,"

Mr Richard Anderson, Coal Technology Manager of PT Multi Resources Indonesia, said that as well as rising domestic demand, Indonesian miners will also face higher costs in future. He said The challenge to the industry will be how to manage mining costs and especially logistics as mining moves to remote locations."

Most of the conference delegates said that Indonesia's rise in output is likely to be absorbed by domestic consumers and exports are expected to increase only slightly to 150 million tonnes in 2009 from 148 million tonnes in 2006 and will stay at the 150 million levels until 2025.

AK Steel announces May surcharge for electrical steel

AK Steel Holding Corp announced recently that a USD 340 per ton surcharge will be added to invoices for electrical steel shipped in May 2007.

Surcharges are based on reported prices for raw materials and energy used to manufacture the products. March 2007 purchase cost is used to determine the May 2007 surcharge.

AK Steel makes flat rolled carbon, stainless and electrical steel products and carbon and stainless tubular steel products for the automotive, appliance, construction and manufacturing markets.

Weirton ISU votes to join United Steelworkers

Associated Press reported that the 1,150 member Independent Steelworkers Union at the Weirton division of Mittal Steel US has voted 913 to 89 in favor of merging with the United Steel Workers recently to become members of United Steelworkers Local 2911.

Mr Mark Glyptis president of ISU said that the merger improves benefits for members and protection for retirees, who now are eligible for a USW retiree group with 65,000 members. He said "We knew the time had come for us to join the USW.

Mr Santo Santoro USW official said that the merger strengthens organized labor in the Ohio Valley. He said "We have worked very well in the past and I know we will work together on the many issues facing steelworkers and the working people of this nation.

Although joining the USW is going to cost more than membership in the ISU, but the additional benefits include greater strength in mobilizing, organizing, bargaining and lobbying. The 850,000 member USW employs six full time lobbyists in Washington DC, pension and benefits analysts, corporate researchers and collective bargaining teams. Weirton workers also get access to the USWs USD 140 million strike fund, which gives workers on the picket line at least USD 100 per week.

Hadeed accounts for 65% of Saudi Arabias steel production in 2006

It is reported that Saudi Iron and Steel Company Hadeeds 2006 sales amounted to 3.898 million tonnes up by 6.1% YoY as compared to 3.672 million tonnes in 2005.

Mr Mohammad Saleh Al-Jabr deputy president of SABIC Metals Group said that said that SABICs steel products produced in the complex of Hadded alone count for 65% of the total production in the country with a total production capacity of 5.5 million tonnes per year out of which 90% are sold in the domestic market.

He added that the Kingdom of Saudi Arabia and the GCCs countries are witnessing an industrial and construction development, which requires efforts to develop the iron and steel industry in the region and the Kingdom will get 2 more mills with a production capacity of 1.25 million tonnes per year within the next few years in order to keep abreast with the demand for the iron and steel products.

Although Saudi Arbai has five mills with a total production capacity of up to 8.430 million tonnes of long and flat products, Hadeed is the largest steel producer.

Laiwu Steel develops N80 steel for oil tube

Special steel mill under Laiwu Steel has successfully developed N80-grade 36Mn2 steel for oil tube. All the products have met American Petroleum Institute's standards with leading technical criteria among domestic products of similar kind.

Seamless steel tube, the end product of steel for oil tube, is mainly used in facilities such as oil well tubing requiring high temperature and pressure resistance and corrosion proof.

Meanwhile the steelmaker has also developed 40Mn2 high quality constructional alloy steel.

(Sourced from MySteel.net)

KrasnodonVuhillia plans upgrade to boost coking coal output

Ukranian Journal reported last month that KrasnodonVuhillia, one of the biggest producers of coking coal in Ukraine, plans to invest UAH 470 million (USD 93 million) by the end of the year to boost its output by 12%.

KrasnodonVuhillia, which incorporates seven coal mines and other assets, plans to boost coking coal output to 6.4 million tonnes in 2007, up from 5.7 million tonnes in 2006.

Irans SIA plans to produce over 13m tons of steel

Mr Taqi Bahrami head of the Steel Industries Association of Iran announced that Iran is set to make more than 13 million tons of steel products out of steel bars.

He added that in the last Iranian year ended on March 20th 2007, steel production stood at 11.2 million tonnes of which over 9.2 million tonnes was from public sector and private sectors production was about 2 million tonnes.

SIA predicted 800,000 tonnes of girder output in the current Iranian year, planning to establish 5 more girder factories to meet the domestic needs.

2 killed and 7 missing in coal mine accident in Gansu Province

It is reported that 2 miners have been killed with 7 others are missing during a gas outburst at a coal mine in northwest China's Gansu Province. The accident took place at about 11 PM on Friday at Yaojie township of Lanzhou. Rescuers found three miners early Saturday morning, but two of them died of gas poisoning later while the other is recovering in hospital.

A local official said today the chances of survival for the missing miners are very slim.

The provincial coal mine safety administration has sent experts and technicians to help with the rescue operation.

OMKs VMZ creates record by producing 100,000 tonne large dia pipes in March

FIS reported that Russian pipe major OMKs Vyksa Metallurgical Plant has achieved record pipe production volumes in March 2007 and January to March quarter.

VMZ produced 168,900 tonnes of pipes in March 2007 up by 43.5% YoY as compared with 117,700 tonnes in March 2006. VMZ also created a record in March 2007 by producing over 100,000 tonnes of large dia pipes.

VMZ has produced 475,600 tonnes of pipes of different sizes in January to March 2007 quarter.