Tata Steel to Introduce New 'Ground Granulated BF Slag'; Steel Billet Jumps 6.1%

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A new launch for Tata Steel. The company “has planned to introduce a new value added product “Ground Granulated BF Slag (GGBS)” for the construction industry,” reports The Economic Times.

“GGBS has been widely used in developed economies for years and of late was also getting used in major construction projects in India, a company release said.”

“The product promised to be a sustainable and cost effective material, will not only increase compressive strength and durability of the concrete, but also significantly reduce the carbon foot-print.”

In metal price news…

The cash price of steel billet saw the biggest upwards shift for the day, rising 6.1 percent on the LME to close at $260.00 per metric ton on Tuesday, December 10. Also on the LME, the steel billet 3-month price inched up 2.0 percent to $260.00 per metric ton.

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Chinese steel closed mixed yesterday. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC fell 1.7 percent yesterday after three straight days with no change. The price of Chinese coking coal saw little movement.

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After remaining flat for three days, the US HRC futures contract 3-month price fell 0.8 percent on Tuesday to $645.00 per short ton. The spot price of the US HRC futures contract was unchanged at $676.00 per short ton.