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News - 21 Aug, 2014
1. Chinese steel price index on August 20 reflects downtrend - 21 Aug, 2014Top
(Follow @steelguru on Twitter for important updates)

The Chinese Long Product Price Index CLPPI has declined by 9 points, whereas the Chinese Flat Products Index CFPPI has also declined by 5 points. The overall price index CHISPI has gone down by 7 points.

Class19/Aug20/AugChange%
CLPPI54945485-9-0.16%
CFPPI52705265-5-0.09%
CHISPI53675360-7-0.13%

CLPPI – Chinese Long Product Price Index
CFPPI – Chinese Flat Product Price Index
CHISPI – Chinese Steel Price Index

Long Products
Category19/Aug20/AugChange%
PI-WRC54605451-9-0.16%
PI-Rebar55365527-9-0.16%

PI- Product Index

Flat Products
Category19/Aug20/AugChange%
PI-PLTS47084703-5-0.11%
PI-HR52655259-6-0.11%
PI-CR54745470-4-0.07%
PI-GP5858585800.00%

PI- Product Index

To know more about these indices please visit
http://steelprices-china.com/spi_services/spi.html

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

2. Chinese domestic steel rebar price movement on August 20 - 21 Aug, 2014Top
(Follow @steelguru on Twitter for important updates)

Rebar
20mm
HRB 400
LocationIn CNYIn USD
Shanghai-10-2
Hangzhou-30-5
Wuxi-10-2
Hefei-20-3
Nanchang-20-3
Guangzhou-10-2
Nanning-10-2
Taiyuan-10-2
Shenyang-10-2
Harbin-10-2

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

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(www.steelguru.com)

3. Chinese domestic steel wire rod price update on August 20 - 21 Aug, 2014Top
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WRC
6.5mm
High Speed
LocationIn CNYIn USD
Shanghai-30-5
Hangzhou-50-8
Wuxi-10-2
Hefei-20-3
Nanchang-10-2
Tianjin-10-2
Taiyuan-10-2

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

4. Chinese domestic steel billet price movement on August 20 - 21 Aug, 2014Top
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Billets
150*150
Q235
LocationIn CNYIn USD
Jiangsu-10-2
Shandong-20-3
Yunnan-20-3

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne

USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

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(www.steelguru.com)

5. Chinese domestic steel Angle price on August 20 - 21 Aug, 2014Top
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Angle
#5
LocationIn CNYIn USD
Nanning-50-8

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

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(www.steelguru.com)

6. Chinese domestic steel channel price update on August 20 - 21 Aug, 2014Top
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Channel
#1
LocationIn CNYIn USD
Nanning-50-8

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

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(www.steelguru.com)

7. Chinese domestic steel beam price scenario on August 20 - 21 Aug, 2014Top
(Follow @steelguru on Twitter for important updates)

Beam
#25
LocationIn CNYIn USD
Nanning-50-8

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

8. Chinese domestic HR steel prices as on August 20 - 21 Aug, 2014Top
(Follow @steelguru on Twitter for important updates)

HRC
5.75mm
Common
LocationIn CNYIn USD
Shanghai-10-2
Hangzhou-10-2
Nanjing-10-2
Wuxi-10-2
Hefei-20-3
Changsha-10-2
Wuhan-10-2
Zhengzhou-10-2
Taiyuan-10-2

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

9. Chinese domestic steel plate price movement on August 20 - 21 Aug, 2014Top
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Plates
20mm
LocationIn CNYIn USD
Jinan-10-2
Wuhan-10-2
Beijing-10-2
Tianjin-10-2
Taiyuan-10-2
Chengdu-20-3
Xian-20-3

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

10. Chinese domestic narrow HR strip price remain flat on August 20 - 21 Aug, 2014Top
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HR Strip
235*2.75
LocationIn CNYIn USD
Hangzhou-20-3
Guiyang-20-3

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

11. Chinese domestic CR steel price update on August 20 - 21 Aug, 2014Top
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CR
1mm
LocationIn CNYIn USD
Shanghai-10-2
Nanjing-10-2
Wuxi-10-2
Wuhan102
Shijiazhuang-10-2
Taiyuan-10-2
Shenyang-50-8

Change is on 20th Aug 2014 as compared to 19th Aug 2014
Change is per tonne
USD:CNY = 6.298

To know exact prevailing steel prices in China on daily basis, subscribe to services of SteelHome by sending a mail to admin@steelprices-china.com

Sourced - Steel Prices China, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

12. Iran steel market trend in week 33rd - Flat products - 21 Aug, 2014Top
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Price of hot rolled coil 2 mm thickness declined by around IRR 1 million per tonne to IRR 19.5 million per tonene on truck in Anzai including 8% VAT during last week in Iran. This trend was expected as market inventory level increased.

HRC size 2.5 mm to 10 mm was almost stable despite shortage of some sizes in the market. The reason is lack of demand. HRP market was in the same situation with prices stable.

CRC price was improved due to limited supply level. HDG market experienced improvements for some sizes, but higher supply level made prices stopped by end of the week. Some cargoes from Indian and China are on the way to Iran but demand level has not improved in domestic market.

Source – Irsteel.com

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13. Iranian crude steel output up by 8.6pct in 4 months - 21 Aug, 2014Top
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Tehran Times reported that Iran produced 5.582 million tonnes of crude steel in the first four months of the current Iranian calendar year, which began on March 21 an 8.6% rise YoY.

Iran produced 15.64 million tonnes of crude steel in the previous Iranian calendar year.

Iran’s crude steel production is projected to increase to 55 million tonnes by the end of the Fifth Five Year Development Plan (2015). Iran was the biggest producer of crude steel in the Middle East in 2013.

Source – Tehran Times

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14. Turkish Kardemir to gear up production - 21 Aug, 2014Top
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Turkish biggest steelmaker Kardemir has planned to increase its crude steel output to 3 million tonnes per year from current 1.8 million tonnes per year.

The steelmaker has put into production at its new blast furnace in Karabuk, which is expected to reach full production by September.

Besides, Kardemir is targeting to build a new steel plant with annual capacity of 6 million tons in the coming years.

Source -www.yieh.com)

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(www.steelguru.com)

15. Flurry in ingot market and hiked import levels supports scrap levels in India - 21 Aug, 2014Top
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Domestic scrap levels in India have found support in tandem with spurt in pencil ingot levels. Ingot price have soared by INR 1100 per tonne in the last 1 week pulling scrap prices.

International scrap levels have also improved by USD 15-20 per tonne recently owing to improved Turkish buying with long product market picking up after Ramadan. Indian importers are getting offers of USD 370-375 per tonne which USD 10 per tonne improvement.

Melting Scrap
LocationChange
Mumbai900
Chennai100
Kolkata200
Mandi800
Kandla1200
Kanpur435
Rudrapur435
Hyderabad100
Ludhiana50
Bangalore100

Change on 20th August 2014 as compared to 14th August 2014
In INR per tonne

Source – Strategic Research Institute, Steel Guru

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(www.steelguru.com)

16. Indian steel rebar market improves on cost push and anticipated hike - 21 Aug, 2014Top
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Rebar TMT/QST
LocationChange
Mumbai472
Chennai200
Kolkata200
Delhi800
Mandi118
Raipur236
Kanpur500
Rudrapur500
Ahmedabad200
Hyderabad354
Indore250
Bangalore100
Ludhiana206
Muzaffarnagar200

Change on 20th August 2014 as compared to 14th August 2014
In INR per tonne
Source – Strategic Research Institute, Steel Guru

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(www.steelguru.com)

17. Sharp turnaround in pencil ingot prices on buying interest - 21 Aug, 2014Top
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In a swift turn of fortunes pencil ingot price levels appreciated by upto INR 1100 per tonne over the week. Largely unanticipated spike can be imputed to re-stocking by the re-rollers and traders thinking the market has bottomed out and opting to buy cheap.

However sentiments in the market dithered since finished steel demand is still to pick up thereby raising question about the sustainability of optimism.

Pencil Ingot
LocationChange
Mumbai800
Chennai100
Kolkata200
Mandi1050
Raipur900
Alang1000
Kanpur131
Rudrapur131
Ahmedabad200
Ghaziabad600
Muzzafarnagar800
Hyderabad400
Raigarh1000
Durgapur500
Nagpur100
Jamshedpur800
Jaipur1300
Rourkela1050
Bhiwari200
Ludhiana178

Change on 20th August 2014 as compared to 14th August 2014
In INR per tonne

Source – Strategic Research Institute, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

18. Sponge Iron levels remains stable on shortage - 21 Aug, 2014Top
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Sponge iron market has weathered turbulence in input and long steel market in India over the past 2 months owing to shortage of iron ore from Odisha. In fact many DRI units were forced to go for imports to cater over the shortage. Current offers are in the range of INR 20,600-22,400/MT for 79-80 FeM Sponge iron (C-DRI) on ex- works basis. Stable sponge iron price led to narrowing of conversion margin by nearly INR 1500-2000 per tonne forcing ingot producers to curtail capacity.

Sponge Iron
Location Change
Kolkata200
Raipur300
Bellary100
Raigarh400
Rourkela400
Bangalore 100

Change on 20th August 2014 as compared to 14th August 2014
In INR per tonne

Source – Strategic Research Institute, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

19. Indian steel price index reflects divergent trends for longs and flats on August 20 - 21 Aug, 2014Top
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The Indian Long Product Price Index ILPPI has inclined by 22 points, whereas Indian Flat Product price index IFPPI has declined by 5 points. The overall Indian Steel Price Index INDSPI has gone up by 8 points.

Class19/Aug20/AugChange%
ILPPI89548976220.2%
IFPPI91009095-5-0.1%
INDSPI9029903780.1%

LPPI – Long Product Price Index
IFPPI – Flat Product Price Index
INDSPI – Indian Steel Price Index

Long Products
Category19/Aug20/AugChange%
PI - TMT89158935200.2%
PI - WRC92019224230.2%
PI - Angle85988617190.2%
PI - Channel86718695240.3%
PI - Joist79567974180.2%

PI – Product Index

Flat Products
Category19/Aug20/AugChange%
PI - Narrow Plates8555855500.0%
PI - Wide Plates88898888-10.0%
PI - Hot Rolled8608860800.0%
PI - Cold Rolled98359825-10-0.1%
PI - Galvanized97979781-16-0.2%

PI – Product Index

These indices have base of 10,000 as on July 1st 2008

To know more about these indices please visit
http://steelprices-india.com/spi_services/spi.html

You can also get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

20. Sponge iron price on August 20 - 21 Aug, 2014Top
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Sponge iron
LocationChange
Bellary100
Kolkata100
Ludhiana-267
Raipur200
Rourkela200

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

21. Pencil ingot price movement in major places on August 20 - 21 Aug, 2014Top
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Pencil ingot
LocationChange
Alang200
Durgapur-100
Jaipur400
Jamshedpur100
Ludhiana178
Kanpur131
Kolkata400
Mandi300
Mumbai400
Muzaffarnagar100
Raigarh300
Raipur200
Rourkela300
Rudrapur261

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

22. Rebar TMT QST price movement in India on August - 21 Aug, 2014Top
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TMT
Fe 415
12mm
LocationChange
Chennai-520
Hyderabad354
Kanpur500
Kolkata200
Ludhiana-206
Mandi118
Mumbai472
Raipur236
Rudrapur500

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

23. Steel wire rod prices on August 20 - 21 Aug, 2014Top
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WRC
SWR14
5.5/6
LocationChange
Kanpur175
Raipur259
Rudrapur436

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

24. Steel angle prices on August 20 - 21 Aug, 2014Top
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ANGL
GR A
65X6
LocationChange
Kanpur300
Ludhiana411
Mumbai472
Raipur315
Rudrapur300

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

25. Steel light channel prices on August 20 - 21 Aug, 2014Top
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CHNL
GR A
75/100
LocationChange
Chennai156
Kanpur300
Mumbai472
Raipur315

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

26. Steel joist I Beam prices scenario in major places on August 20 - 21 Aug, 2014Top
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JSTI
GR A
250X125
LocationChange
Chennai208
Mumbai472
Raipur315
Rudrapur200

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

27. Patra Narrow HR steel strips price on August 20 - 21 Aug, 2014Top
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Patra
LocationChange
Delhi-445
Ludhiana267

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

28. Wide steel plate price on August 20 - 21 Aug, 2014Top
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PLTS
GR B
12-20x2.5
LocationChange
Chennai-272
Raipur534

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

29. CR steel price movement on August 20 - 21 Aug, 2014Top
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CR
DSK
0.63
LocationChange
kanpur-349
Rudrapur-348

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

30. GP steel HDG price on August 20 - 21 Aug, 2014Top
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GP
100Gms
0.40
LocationChange
Delhi-445
Ludhiana89

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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31. GC steel HDG price on August 20 - 21 Aug, 2014Top
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GC
100Gms
0.40
LocationChange
Delhi-445
Ludhiana-178

Change is on 20th August 2014 as compared to 19th August 2014
Change is in INR per tonne

To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices-india.com with contact details Kindly note that this is a paid service.

Source - Steel Prices India, Steel Guru

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(www.steelguru.com)

32. Global crude steel production in July up by 1.7pct YoY - 21 Aug, 2014Top
(Follow @steelguru on Twitter for important updates)

World crude steel production for the 65 countries reporting to the World Steel Association (worldsteel) was 137 million tonnes in July 2014, an increase of 1.7% compared to July 2013.

RegionJul'13Jul'14YoYJan-Jul'13Jan-Jul'14YoY
65 countries 136,819 956,861
Asia 89,036 92,417 3.80% 617,843 645,732 4.50%
U (28) 13,549 13,306 -1.80% 97,255 100,689 3.50%
North America 10,208 10,431 2.20% 69,022 70,416 2.00%
CIS (6) 9,057 9,248 2.10% 63,615 63,549 -0.10%
South America 3,966 4,014 1.20% 26,711 26,376 -1.30%
Other Europe 2,940 2,995 1.90% 21,177 21,154 -0.10%
Middle East 2,206 2,390 8.30% 14,868 16,256 9.30%
Africa 1,256 1,504 19.70% 9,062 9,493 4.80%
Oceania 480 514 7.10% 3,291 3,193 -3.00%
Other EU 443 325 -26.60% 3,124 2,606 -16.60%

In ‘000 tonnes
worldsteel.org

The crude steel capacity utilisation ratio for the 65 countries in July 2014 was 75.4%. It is -1.2 percentage points lower than July 2013. Compared to June 2014, it is -2.9 percentage points lower.

RankCountryJul'13Jul'14YoYJan-Jul'13Jan-Jul'14YoY
1China 65,472 68,324 4.40% 454,565 477,934 5.10%
2Japan 9,291 9,295 0.00% 64,002 64,532 0.80%
3United States 7,439 7,609 2.30% 50,543 51,220 1.30%
4India 6,845 6,960 1.70% 47,572 48,240 1.40%
5South Korea 5,553 5,897 6.20% 38,611 41,978 8.70%
6Russia 5,756 6,203 7.80% 40,451 41,476 2.50%
7Germany 3,397 3,448 1.50% 24,969 25,933 3.90%
8Turkey 2,794 2,823 1.00% 20,114 19,924 -0.90%
9Brazil 2,914 2,929 0.50% 19,875 19,656 -1.10%
10Ukraine 2,814 2,485 -11.70% 19,428 17,958 -7.60%
11Italy 2,099 2,030 -3.30% 14,779 15,099 2.20%
12Taiwan, China 1,875 1,940 3.50% 13,094 13,045 -0.40%
13Mexico 1,603 1,600 -0.20% 10,423 11,255 8.00%
14France 1,343 1,365 1.60% 9,368 9,670 3.20%
15Iran 1,302 1,450 11.40% 8,662 9,466 9.30%
16Spain 907 960 5.80% 7,932 8,472 6.80%
17Canada 1,040 1,115 7.20% 7,282 7,212 -1.00%
18UK 1,011 966 -4.50% 6,730 7,114 5.70%
19Poland 805 700 -13.00% 4,644 4,875 5.00%
20Austria 658 625 -5.00% 4,603 4,581 -0.50%
21Egypt 516 744 44.20% 3,830 4,211 9.90%
22Belgium 498 480 -3.60% 4,105 4,170 1.60%
23South Africa 634 610 -3.80% 4,162 4,166 0.10%
24Netherlands 582 579 -0.50% 3,762 4,016 6.80%
25Saudi Arabia 464 505 8.80% 3,221 3,616 12.30%

In ‘000 tonnes
worldsteel.org

Source – Strategic Research Institute, Steel Guru

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

33. Emirates Steel unfolds new branded products - 21 Aug, 2014Top
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Gulf Today reported that UAE’s largest steelmaker Emirates Steel has set the stage to further expand its global presence and add more value added steels to its product basket.

Emirates Steel the UAE’s only integrated steel producer of long products said that with better demand prospects and mega expansion plans in the pipeline within the Middle East region. It is now sharpening its focus on high margin, high strength value added products.

In an environment of low capacity utilisation, Emirates Steel is revisiting its optimisation models. Its strategies for the next 5 years include focusing on value-added products despite challenges of higher setup times and smaller production campaigns.

The Middle East region imports most of its value added steel and Emirates Steel believes it can capitalise by manufacturing these products domestically.

Mr Saeed G Al Romaithi CEO of Emirates Steel said that “We have been closely observing the benefits large steel producers in the world are reaping by progressively moving into value-added products and we are hopeful that by adopting this model we will continue to protect our bottom line amid the current challenging industry circumstances.”

Source – Gulf Today

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34. BHP Billiton announces a series of changes to senior management of the Company - 21 Aug, 2014Top
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Mr Graham Kerr currently CFO of BHP Billiton is appointed CEO designate of the new company that BHP Billiton plans to form in a demerger. Mr Graham will retire from the Group Management Committee on October 1st 2014 and will be replaced as CFO by Mr Peter Beaven, currently President, Copper. Mr Brendan Harris, currently Head of Group Investor Relations, has been appointed CFO designate of the new company.

Mr Graham first joined the BHP Billiton Group in 1994 as a graduate and held various positions, including President of the Diamonds and Specialty Products business, before being appointed CFO in November 2011. Mr Brendan joined BHP Billiton in 2010 and has led the Company’s global investor relations team from London and Melbourne since 2011. He was previously Executive Director, Metals and Mining Research, at Macquarie Bank.

Mr Peter joined BHP Billiton in 2003 and has held various positions in the Company including President Manganese and Vice President Business Development and Chief Development Officer for the Carbon Steel Materials business. He joined BHP Billiton following a previous career with UBS where he headed the Australian advisory team for resources. Peter is a registered Chartered Accountant. He will relocate to Melbourne from Santiago.

An announcement relating to Mr Peter’s replacement as President Copper will be made in due course. In the interim Mr Edgar Basto, currently Asset President Escondida, will act in the capacity of President, Copper and, following the appointment of a permanent replacement, will take up a new role within BHP Billiton.

Mr Andrew Mackenzie CEO of BHP Billiton said that “Mr Graham has made a significant contribution to BHP Billiton including overseeing the development of the proposed demerger announced today. He has experience across commodities and in recent years has led the finance function and businesses in Canada and South Africa with distinction. Graham is the right person to lead the new company and I am pleased that shareholders will continue to benefit from his skills and experience in his new role.”

Mr Mackenzie added that “MrPeter has delivered very strong results in leading our Copper business through a period of significant gains in safety, productivity and performance. He brings very strong financial experience and expertise to his new role as CFO of BHP Billiton.”

BHP Billiton also announced that Ms Karen Wood will retire from the Group Management Committee effective. Mr Karen joined BHP Limited as Company Secretary in June 2001 shortly before the BHP and Billiton merger. Over her 13 years with the Group she has held a variety of roles including leading the global Human Resources and Corporate Affairs functions. She joined the Office of Chief Executive (later the Group Management Committee) in 2006.

In announcing Ms Karen’s retirement, Mr Mackenzie acknowledged the significant and enduring contribution that Karen has made to BHP Billiton. In her time with the Company, Ms Karen has supported each chief executive, worked on all leadership transitions and been intimately involved in every corporate transaction and significant development within the organisation. She has provided invaluable counsel to all of us and to the Board throughout and has given me personally insightful and helpful guidance as I moved into the role of CEO.

He said that “Ms Karen leaves having put in place world class Human Resources and Corporate Affairs processes and teams. She also led the headquarters of the Company back to its original home in Collins Street in Melbourne and to a wonderful building that both recognises our heritage and promotes our modern culture. Karen’s professionalism and commitment to the organisation and its people will be sorely missed. While Karen is retiring from her executive role she will continue to support me and the Board for some time on several matters including the demerger announced earlier today.”

Source – Strategic Research Institute, Steel Guru

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Price Index - MEA
  May-08 May-01
MLPPI 4684 4684 Same
MFPPI 4968 4968 Same
MEASPI 4770 4770 Same
Currency Rates
21 Aug, 2014
USD 1.0000
AUD 1.0809
BRL 2.2623
CAD 1.0984
CNY 6.1507
EUR 0.7550
GBP 0.6035
INR 60.6691
JPY 103.8580
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