Casualties in SAIL Plants Increasing; Korean Steel Scrap Down

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It looks as though “the number of casualties due to fatal accidents such as fall from height, explosion, fire and electrocution rose consistently in SAIL plants between 2011 and 2013, Parliament was informed today,” reports The Economic Times.

“Such accidents caused 21 deaths in 2011, 27 in 2012 and 28 in 2013 in plants of Steel Authority of India (SAIL), Steel Minister Beni Prasad Verma said in a written reply in Rajya Sabha.”

“There wasn’t any death due to accidents in SAIL plants till February 10 of this year.”

In metal price news for steel…

Chinese steel prices were flat for the day. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC was essentially unchanged. The price of Chinese coking coal saw essentially no change for the fifth day in a row.

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The cash price of steel billet remained essentially flat at $355.00 per metric ton on the LME. The 3-month price of steel billet saw essentially no change on the LME for the fifth day in a row, remaining around $360.00 per metric ton.

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The US HRC futures contract 3-month price saw little price change on Wednesday at $631.00 per short ton. The spot price of the US HRC futures contract remained essentially flat at $655.00 per short ton.