ÿþ<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD><TITLE>New Page</TITLE> <META http-equiv=Content-Type content="text/html; charset=unicode"> <META content="Microsoft FrontPage 5.0" name=GENERATOR></HEAD> <BODY> <P align=left> <IMG alt="" hspace=0 src="Mohan1.JPG" align=baseline border=0 width="79" height="94">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG><EM><FONT face="Courier New" color=#00ccff>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INDUSTRY NEWS</FONT></EM></STRONG></P> <P align=left> <HR id=null> <P></P> <P align=left><STRONG><FONT face="Courier New" color=#33cc33>NATIONAL&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <a href="#INTERNATIONAL"><font color="#008000">INTERNATIONAL</font></a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<a href="#RAW MATERIAL"><font color="#008000">RAW MATERIAL</font></a></FONT></STRONG></P> <P align=left><STRONG><FONT face="Courier New" color=#33cc33></FONT></STRONG>&nbsp;</P> <P align=left> <TABLE cellSpacing=0 cellPadding=2 width="100%" border=0> <TBODY> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6216"><FONT class=NOIL><FONT color=#cccccc><STRONG><FONT color=#336699>Steel cos cut prices in line with global trend<BR>2 Jun, 2005</FONT></STRONG> </FONT></FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>Indian steel companies including Steel Authority of India Ltd (Sail) and Essar Steel have announced a 7-8 per cent cut in steel prices. This would effectively reduce the prices by Rs 500-2000 a tonne depending on the category of steel reported a leading business daily. </FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6216" target=_blank>...more</A></DIV> <DIV align=justify>&nbsp;</DIV> <DIV align=justify> <TABLE cellSpacing=0 cellPadding=2 width="100%" border=0> <TBODY> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6217"><FONT class=NOIL><FONT color=#99cc66><FONT color=#999966><B>Steel cos outshine IT cos in profit</B><BR>2 Jun, 2005</FONT> </FONT></FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>Major steel companies have shown stronger growth in profit after tax (PAT) compared to major technology companies but the brick and mortar giants have under performed compared to tech companies in the stock markets reported a leading business daily. </FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6217" target=_blank>...more</A></DIV> <DIV align=justify>&nbsp;</DIV> <DIV align=justify><A class=morehl href="http://c.feeddirect.com/click/here.pl?j329221899&amp;w=2278146" target=_blank><FONT face=Verdana color=#999966 size=2><STRONG>A massive steel plant to come up in Orissa...</STRONG></FONT></A></DIV> <DIV align=justify>&nbsp;</DIV> <DIV align=justify>&nbsp;</DIV> <DIV align=justify> <TABLE cellSpacing=0 cellPadding=2 width="100%" border=0> <TBODY> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6211"><FONT class=NOIL><FONT color=#999966><B>Steel sector to drive credit growth</B><BR>31 May, 2005</FONT> </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>The steel sector would drive credit growth in the domestic banking sector in the next couple of years. According to estimates, investments worth $5 billion are being planned in the next few years to increase capacity in this sector. Besides steel, textile and sugar sectors would also boost demand for credit reported a leading business daily. </FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6211" target=_blank>...more</A></DIV></TD></TR></TBODY></TABLE></DIV></TD></TR></TBODY></TABLE></DIV> <P><FONT color=#33cc33><STRONG><a name="INTERNATIONAL">INTERNATIONAL</a></STRONG></FONT></P> <P><STRONG><FONT color=#33cc33></FONT></STRONG>&nbsp;</P> <P> <TABLE cellSpacing=0 cellPadding=2 width="100%" border=0> <TBODY> <TR> <TD vAlign=top width="93%"> <P><A href="http://www.steelrx.com/news/newsdetails.cfm?id=6207"><FONT class=noil><FONT color=#999966><B>Glut forces drop in steel prices </B><BR>31 May, 2005</FONT> </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=5></TD></TR> <TR> <TD vAlign=top width="93%"><FONT class=NOIL> <DIV align=justify>The latest data on steel production from China will send tremors through the steel world reported a leading business daily.</DIV> <P></FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6207" target=_blank> ...more</A></P> <P>&nbsp;</P></TD></TR> <TR> <TD vAlign=top width="93%"> <P><A href="http://www.steelrx.com/news/newsdetails.cfm?id=6205"><FONT class=noil><B>China steel exports drop in April</B><BR>30 May, 2005 </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=5></TD></TR> <TR> <TD vAlign=top width="93%"><FONT class=NOIL> <DIV align=justify>Statistics from the China General Administration of Customs show that the country´s billet export declined by 40 per cent in April after the abolition of the export tax rebate policy for the industry. </DIV></FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6205" target=_blank> ...more</A></TD></TR> <TR> <TD vAlign=top width="93%"> <P>&nbsp;</P> <P><A href="http://www.steelrx.com/news/newsdetails.cfm?id=6200"><FONT class=noil><FONT color=#996666><B>Global steel demand to grow 3 pc: Mittal</B><BR>27 May, 2005</FONT> </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=5></TD></TR> <TR> <TD vAlign=top width="93%"><FONT class=NOIL> <DIV align=justify>Lakshmi Mittal, billionaire-owner of Mittal Steel Co., predicts global steel demand will grow 3 per cent a year as emerging markets in eastern Europe, Russia, India and China expand reported a leading business daily. </DIV></FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6200" target=_blank> ...more</A></TD></TR> <TR> <TD vAlign=top width="93%"> <P>&nbsp;</P> <P><A href="http://www.steelrx.com/news/newsdetails.cfm?id=6178"><FONT class=noil><B>Posco seeks nod to build steel mill in China </B><BR>24 May, 2005 </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=5></TD></TR> <TR> <TD vAlign=top width="93%"><FONT class=NOIL> <DIV align=justify>Posco, the world s fifth-largest steel maker, said on Thursday it was seeking approval to build a steel plant in China that could supply automakers. Posco has been looking for opportunities to expand its presence in China and India where demand for steel is booming reported a leading business daily. </DIV></FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/newsdetails.cfm?id=6178" target=_blank> ...more</A></TD></TR></TBODY></TABLE></P></TD></TR></TBODY></TABLE></P> <P><A class=morehl href="http://c.feeddirect.com/click/here.pl?j329365482&amp;w=2278146" target=_blank><FONT face=Verdana color=#996666 size=2><STRONG>Baosteel supplies 70% of steel products for the construction of EastChina Sea Bridge...</STRONG></FONT></A></P> <P>&nbsp;</P> <P><FONT color=#33cc33><STRONG><a name="RAW MATERIAL">RAW MATERIAL</a></STRONG></FONT></P> <P> <TABLE cellSpacing=0 cellPadding=2 width="100%" border=0> <TBODY> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6218"><FONT class=NOIL><FONT color=#999966><B>Iron ore exports up 134 pc</B><BR>2 Jun, 2005</FONT> </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>Iron ore exports from the country grew by a whopping 134 per cent in April-March 2004-05 to 2629.52 million dollar as against 1125.81 million dollar in the year before fiscal reported a leading busines daily. </FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6218" target=_blank>...more</A></DIV></TD></TR> <TR> <TD vAlign=top width="93%" height=12></TD></TR> <TR> <TD width="93%" height=8></TD></TR> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6213"><FONT class=NOIL><B>Posco may mine ore in a phased manner</B><BR>1 Jun, 2005 </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>The Pohang Steel Company (Posco), which plans to set up a 12 mt steel plant in Orissa in stages, may be allowed to mine iron ore in a phased manner. Under the mining lease to be granted to the South Korean major, access to raw material will be linked to the progress made in the project, which envisages the highest ever, FDI inflows of $12 billion into the country reported a leading business daily.</FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6213" target=_blank>...more</A></DIV></TD></TR> <TR> <TD vAlign=top width="93%" height=12></TD></TR> <TR> <TD width="93%" height=8></TD></TR> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6215"><FONT class=NOIL><FONT color=#999966><STRONG>Mining cess raises input costs in Orissa<BR>1 Jun, 2005</STRONG></FONT> </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>Even as global majors have lined up steel investments in Orissa, a cess notification has made major minerals such as iron ore, bauxite, chromite, coal and manganese costlier reported a leading business daily. </FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6215" target=_blank>...more</A></DIV></TD></TR> <TR> <TD vAlign=top width="93%" height=12></TD></TR> <TR> <TD width="93%" height=8></TD></TR> <TR> <TD vAlign=top width="93%"> <P><A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6208"><FONT class=NOIL><B>Ispat to sell sponge iron, DRI </B><BR>31 May, 2005 </FONT></A></P></TD></TR> <TR> <TD vAlign=top width="93%" height=24> <DIV align=justify><FONT class=NOIL>Beginning June, steel maker Ispat Industries Ltd will market sponge iron and directly reduced iron (DRI). Hitherto, DRI produced by the company was meant for captive consumption reported a leading business daily. </FONT>&nbsp;&nbsp;<A class=NOILLINK href="http://www.steelrx.com/news/rawmaterialnewsdetails.cfm?id=6208" target=_blank>...more</A></DIV></TD></TR></TBODY></TABLE></P> <P> <HR id=null> <P></P> <P align=center><b><a href="index.htm"><font color="#008000">HOME</font></a></b> | PRODUCTS | <b><a href="services.htm"><font color="#008000">SERVICES</font></a></b></P></BODY></HTML>