#sssteel

[riyarajawat]

NPG quotes lower in Ahmedabad

A fall in NPG prices in the imported market of Ahmedabad was noticed on August 2, 2022. The price fall was prompted by sluggish buying sentiments and weaker regional demand. Today NPG prices (imported intact) fell from Rs.113/Kg to Rs.110/Kg, a cut of Rs.3/Kg.

[riyarajawat]

Naphtha remains constant in Asia, Europe and US

Naphtha prices have been reported to be unchanged for FE Asia and NW Europe due to steady demand patterns in the region. On August 1, 2022 the prices were cited in FE Asia at $762/MT (CFR) and NW Europe at Euro 780/MT.

[riyarajawat]

RD Rubber Technology receives high volume purchase orders

Santa Fe Springs, CA – RD Rubber Technology Corporation is pleased to announce it has been awarded multiple purchase orders featuring the over molding of fabric and rubber onto metal latch assemblies. “Over molding of fabric and rubber is a company core competency, stated Maria Jose Monesterio, RD Rubber’s Vice President. Our customers utilize this manufacturing process to decrease the number of components in an assembly while ensuring extremely strong bonds to the metal substrate which are sometimes stronger than the elastomer’s physical properties.” RD Rubber Technology is a leading supplier of custom molded rubber products for Aerospace, Defense, Medical, and high technology industries that require precision molded elastomeric components. RD Rubber operates a state-of-the-art molding facility that includes ISO 14644 Class 8 cleanroom space and an extensive inspection and testing department. RD Rubber’s development team assists customers with design for manufacturing and identifies the most appropriate compound for a specific application. With its chemical and mechanical rubber to metal & silicone to plastic bonding capabilities, RD Rubber can accommodate specialized design requirements and reduce the number of components in an assembly. RD Rubber also offers value-added machining, grinding, and finishing while molding any thermoset elastomer including organic rubber, synthetic rubber, fluorocarbon rubbers, fluorosilicone, and silicone types in the 10 to 90 durometer range. The RD Rubber team can make a recommendation and create custom formulations to meet application-specific performance criteria like compression set, permeation, and environmental resistances and offer a custom color match.

[riyarajawat]

OIL's wireline service tender: Details

What is the latest on the wireline logging services tender for a period of four years of Oil India Ltd? **********************************

It is learnt that the following bids were received by OIL    Baker Hughes: 16.73 million  Schlumberger Asia Services: $26.60 million  HLS Asia: $35.27 million    These rates are exclusive of service tax, and the deal is for the use of three logging units, with two of them with special tools.    The reason why Baker Hughes was able to provide such low prices was because it already has some of these tools deployed locally, so mobilizing the, will be easier, besides as they are already deployed, their cost of deployment ahead is lower>    Nevertheless eyebrows were raised when Baker quoted so low, as the other two were unwilling to match the L-1 price as the idea was to provide two sets of units to Baker and one to anyone who could match the price.

[riyarajawat]

Hold Indian Oil Corporation, target price Rs 85

Indian Oil Corporation NSE -0.21 % with a target price of Rs 85. The current market price of Indian Oil Corporation is Rs 70.65. Time period given by analyst is one year when Indian Oil Corporation Ltd. price can reach defined target. Indian Oil Corporation NSE -0.21 % ., incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 66275.68 Crore) operating in Gas & Petroleum sector. Indian Oil Corporation Ltd. key Products/Revenue Segments include Petroleum Refinery Products, Other Operating Revenue, Other Services, Sale of services, Scrap and Subsidy for the year ending 31-Mar2021.

For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 175872.72 Crore, up 5.64 % from last quarter Total Income of Rs 166482.22 Crore and up 46.00 % from last year same quarter Total Income of Rs 120460.02 Crore. Company reported net profit after tax of Rs 6952.67 Crore in latest quarter. 

[riyarajawat]

Shell signs an agreement with Aramco

Under the agreement, Shell & AMG Recycling and its partner, the United Company for Industry shall construct and operate a world-class ‘Metals Reclamation Complex’ for the recovery and recycling of metals in Al-Jubail Industrial City, in Saudi Arabia

[riyarajawat]

Gas price and demand projections: An update

What is the projection on how gas prices are going to behave going forward till 2025 Clearly, some indices, like those related to spot prices are very high, and they are going to fall But how far will gas prices fall? Also, fresh all round LNG capacity is being planned. Will demand catch up in India to absorb that capacity **********************************

See page 10 of the report on how gas prices are going to behave going ahead    What is more, Global natural gas consumption is expected to grow at an annual average rate of 0.8% from 2022 to 2025, reaching around 4 240 bcm by the end of this forecast, a limited 3.4% increase or  close to 140 bcm compared with 2021. This is a strong downward revision of our forecast in last year’s edition, where we anticipated an increase of close to 210 bcm for 2021 to 2024 (or a compound  average growth rate [CAGR] of 1.7%), against around 75 bcm (or a CAGR of 0.6%) for the same period in this year’s edition. (see page 21)    India being a highly price sensitive market, will the market grow strongly enough for additional LNG capacity to come up?  

[riyarajawat]

National Fertilizers gains on strong fertilizer sales in Q1 FY23

National Fertilizers (NFL) advanced 3.99% to Rs 43.05 after the company's total fertilizer sales jumped 47% to 15.58 lakh MT (metric tonne) in April-June 2022 compared with 10.62 lakh MT recorded during the same period last year. The company said that it has recorded the best ever sales in its history. A major push to sale growth has been received from sale of non-urea fertilizers like DAP, Bentonite Sulphur, Bio fertilizers, PDM and micro nutrients. Further, with a product mix of varied fertilizers, the company that said it is steadily progressing towards a record sale.

National Fertilizers is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products. As of 31 March 2022, the Government of India owned 74.71% stake in the company. On consolidated basis, the company reported a net profit of Rs 6.06 crore in Q4 FY22 compared with net loss of Rs 9.53 crore in Q4 FY21. Net sales jumped 50% to Rs 4,442.29 crore during the period under review.