County Iron Financial News

Delhi Chief Minister and Aam Aadmi Party convener Arvind Kejriwal on Sunday began his protest march against Bhartiya Janata Party with other AAP leaders. The Delhi CM started marching towards BJP headquarters after addressing a public gathering where he challenged the Indian Prime Minister Narendra Modi to send him and his party workers to jail. Section 144 has been imposed on DDU Marg and there is no permission for any kind of protest, said DCP Delhi Central, Harsha Vardhan Mandava earlier today. The traffic police has also issued an advisory in view of the protest planned outside the BJP office at the Deen Dayal Upadhyay Marg, while entry and exit have been disallowed at the nearest ITO metro station.

Indian Railways has loaded 128.29 million tonnes (MT) freight during April 2024. This is 1.46% higher than the 126.45 MT freight loading for April 2023. With this, the national transporter has clocked the 55th straight month of highest ever freight loading, beginning October 2020. Freight revenue earnings during the month under review stood at Rs 14,075.14 crore, up from Rs 13,893.27 crore in April 2023. Railways loaded of 57.64 MT in Coal, 14.88 MT in Iron Ore, 5.24 MT in Pig Iron and Finished Steel, 6.79 MT in Cement, 4.75 MT in Clinker, 3.85 MT in Foodgrains, 4.01 MT in Fertilizers, 4.16 MT in Mineral Oil, 6.57 MT in Containers and 9.54 MT in Balance Other Goods during April 2024. For the full fiscal ending March 2024, Indian Railways loaded 1591 MT freight up from 1512 MT in the preceding fiscal. Records of railway electrification, new lines, and track replacement were also made during the fiscal 2023-24. Within goods loading, the Railways ferried 787.61 MT of Coal, 180.95 MT of Iron ore, 153.80 MT of Cement, and 114.36 MT as Balance Other Goods for the full fiscal 2023-24.

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metallurgical coal from Russia have spurted around three-fold in the last three years to around 15.1 million tonnes in 2023-24 mainly due to lower prices while the same from Australia have declined, according to a research firm. Russia's share in India's metallurgical coal imports of 73.2 million tonnes (MT) has risen to around 21 per cent from around 8 per cent in 2021-22, research firm Big Mint said in a statement. The import of metallurgical coal, which includes coking coal and pulverised coal injection (PCI), from Russia, stood at 5.1 MT, accounting for 8 per cent of India's total imports of 65.6 MT of the commodity in 2021-22. Metallurgical coal imports from Russia rose to 11.3 MT in 2022-23, accounting for 16 per cent of 69.9 MT met coal imports in that year. In 2023-24, met coal imports from Russia were 15.1 MT or 21 per cent of total met coal imports of 73.2 MT. Australia, a major supplier of met coal to India, saw a decline in the commodity's exports to India. Australia supplied 50.7 MT of met coal in FY22, or 77 per cent of the total imports of India. Met coal shipments dropped to 42.2 MT in FY22, while market share also declined to 60 per cent. In the last fiscal, met coal imports from Australia dropped further to 40.4 MT, resulting in a market share of 55 per cent.

Shares in U.K.-based mining giant Anglo American have surged after it received a 31 billion-pound ($39 billion) takeover bid from rival BHP Billiton

Indian Railways loaded 1591 million tonnes (MT) freight during financial year 2023-24 up from 1512 MT in the preceding fiscal. According to officials aware of the development, with 79 MT incremental loading, the national transported clocked the highest ever loading for Indian Railways in a fiscal. Records of railway electrification, new lines, and track replacement were also made during the year under review. The Indian Railways electrified 7188 Route Kilometers (rkm), laid new lines at 14.5 kms per day, and replaced 5950 Kms of tracks. Within goods loading, the Railways ferried 787.61 MT of Coal, 180.95 MT of Iron ore, 153.80 MT of Cement, and 114.36 MT as Balance Other Goods.

NMDC with a target price of Rs 260. The current market price of NMDC Ltd. is Rs 208.55. NMDC Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 59989.50 Crore) operating in Mining sector.

JSW Steel with a target price of Rs 958. The current market price of JSW Steel Ltd. is Rs 783.2. JSW Steel Ltd., incorporated in the year 1994, is a Large Cap company (having a market cap of Rs 192811.82 Crore) operating in Metals — Ferrous sector.

Mint. “Not only are we a major supplier of critical minerals, we're also home to a buzzing ecosystem that is developing lithium and is looking at the future of lithium-ion technology for batteries and vanadium redox flow batteries, which will be a very key opportunity to grow and address the demands—be it for vehicles or for storage," she added. While Japan, Korea and European nations have been Australia’s traditional partners, Choudhury sees an increasing opportunity for Indian firms.

By Amy Lv and Tony Munroe

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Iron ore mining companies and steelmakers that do not have captive mines are at loggerheads over the export of the raw material, in a bid to safeguard their interests. Secondary steel producers from Odisha and Chhattisgarh have pitched for an «immediate ban on iron ore exports» as the outflow of raw materials is putting pressure on their industry. The Federation of Indian Mineral Industries, representing iron ore producers, has opposed any such move. A third grouping, comprising primary steel producers, has called for import restrictions on finished steel products but maintain silence over the suggestions for export duty on iron ore. «While raw material (iron ore) prices are rising domestically, imports of steel from China have also surged this fiscal. Bharat needs to safeguard its Aatmanirbharta in steel by curbing imports,» said a representative from the Indian Steel Association, whose members include the country's top steelmakers. Most primary steel producers source all the iron ore they need from their captive mines. Others meet part of their raw material requirement from the open market.

Investing.com-- Shares of major Australian mining stocks fell sharply on Wednesday, tracking a decline in iron ore prices amid growing concerns that worsening global economic conditions will dent demand for the steel-making material.

Vedanta, National Mineral Development Corporation (NMDC), Tata Steel traded lower on Tuesday, February 20 after data suggested that iron ore slumped to a three-month low as investors fretted that steel demand wouldn’t stage a strong recovery in China after the Lunar New Year break. Futures sank more than five per cent in Singapore to hit the lowest intraday price since early November, following a drop in the week’s opening session.

₹1,781, thanks to increased volume and higher realization, with a favourable product mix contributing to this rise. The company is poised for a strong final quarter, bolstered by a price increase of ₹600-650 per tonne in January, which would boost realization further. Moreover, NMDC is confident of achieving a production volume of 46-47 million tonnes in FY24, marking a 13% year-on-year increase in Q4 to meet the lower end of its guided range.

CCI. To ensure fair markets, the competition watchdog initiated a focused study on the mining sector, specifically iron ore in India, and its interconnected industries like steel.

equities had in December saw as many as 250 smallcap stocks giving double-digit returns in the month. However, the number was still far less than that in November. In November, when Nifty 50 gave over 5% returns, 334 smallcap stocks registered double-digit returns.

government on Friday said that as many as 76 mineral blocks have been auctioned in the current year. Of the 76 mineral blocks, 30 mineral blocks were auctioned for mining lease and the remaining 46 were sold as a composite licence.

NMDC Share Price Today: Shares of public-sector undertaking (PSU) NMDC were locked in at over four per cent upper circuit at ₹204.90 apiece to hit its 52-week high mark on Tuesday, December 26. The shares of the iron ore company rallied earlier today after iron ore futures hit an 18-year mark. Iron ore rallied to its highest since June 2022, showing Beijing’s efforts to stem the property market’s decline in recent months may be paying dividends.

JSW Steel with a target price of Rs 903. The current market price of JSW Steel Ltd.

Nippon Steel has dropped its lawsuit against Toyota over a patent for a technology used in electric motors, saying wrangling among Japanese companies was not beneficial to keep the nation competitive