Wednesday, January 20, 2016

News update - SIMEC Group / Liberty House

Gupta family recruits Jay Hambro to its Strategic Board

The Gupta family, which controls commodities, energy and industrial interests worldwide has today (20th January) appointed Jay Hambro as a senior member of its Group management team.

Mr Hambro, 41, who has been executive chairman of Sino-Russian Hong Kong exchange-listed industrial commodities champion IRC since 2010, is a well-known figure in the international mining and commodities industry. He joins the Guptas’ Group Strategic Board as Group Chief Investment Officer and Chief Executive Officer of SIMEC Energy & Mining Divisions, spearheading the ambitious global development plans of the business.

The Gupta family, which owns two international commodity and industrial groups, SIMEC and Liberty House, has been undertaking major investments in recent months including the purchase of Uskmouth Power Station and reactivation of the Liberty Steel rolling mill, both in South Wales, and the acquisition of most of the former Caparo steel and engineering businesses in the UK West Midlands.

Mr Hambro’s primary role will focus on the aggressive worldwide development of SIMEC, (Shipping, Industrials, Mining, Energy & Commodities), which currently includes a power generating arm and a global portfolio of trading operations focused on the resources sector.

One of his immediate roles will be to lead the completion of the purchase of the Tungsten Bank which Gupta family interests recently entered into an agreement to acquire, as part of its broader strategy to invest in finance for the commodities industry. This is subject to the approval of the Prudential Regulation Authority.

After graduating in business management, Mr Hambro began his career in resource finance with NM Rothschild & Sons, before moving to the investment bank of HSBC, advising multinational mining groups. He then joined what is now the Petropavlovsk plc group in a business development role and later as Chief Investment Officer before spearheading the development of their industrial commodity divisions as Aricom plc (FTSE listed) and more recently at IRC Limited.

Under his leadership the IRC business has become the first vertically integrated industrial commodity producer in Russia; has constructed and commissioned c.30mtpa of iron ore mining and processing operations with a near-term plan of bringing on stream one of the lowest cost new iron ore mines in the world; and has raised well over US$1bn in development finance for these projects.

P K Gupta, Chairman of the SIMEC Group, explained: “Appointing Jay Hambro is a key hire as a part of our evolution and growth plans. Jay has a proven successful track record in buying, building, operating and financing commodity businesses. He is well respected in the sector and I am delighted that he is joining our team.”

Jay Hambro said: “I am very pleased and honoured to be joining this highly successful team. What the group has achieved in creating a dynamic and entrepreneurial business unit focused on commodities is to be commended. I began working closely with the team some months ago on another project and so I am well aware of both their capabilities and their aggressive expansion plans.”

Further information from Jessica Beeken, +44 (0) 7429 176511 .Eoghan Mortell + 44 (0) 07977 555 116

Note to Editors
The SIMEC Group is a multi-faceted commodity business spanning five continents, with operations that extend to an industrial base covering shipping, Industrial, Mining, Energy and Commodities.

Liberty House Group (“Liberty”) is an international steel and non-ferrous metals group, operating from its four hubs in the UK, Dubai, Singapore and Hong Kong, with a global network of offices spread across 30 countries. The Group’s global steel production capacity exceeds 4 million tonnes per annum. Current Group turnover is approximately $6 billion.

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Saturday, November 07, 2015

Free trial - daily steel industry news

We now offer a free trial to our steel industry news pages. To register, visit or contact us for further information.

Andrzej M Kotas
Chief Executive

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Monday, July 27, 2015

Market, technology and cost-price trends in steel

Are you interested in steel market trends, steelmaking technology trends and / or cost price trends in the world steel sector?

All comments and perspectives are provided with the compliments of UK-based Metals Consulting International Limited.

Andrzej M Kotas
Chief Executive

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Tuesday, May 26, 2015

World steel export prices

We now publish world steel export prices online. For recent monthly fob prices in $ per metric tonne for hot rolled steel coil, cold rolled coil, hot dip galvanised steel (GI), organic coated sheet (PPGI), tin plate and rebar, visit

With compliments from the steel markets team at

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Friday, February 13, 2015

ArcelorMittal surprises on debt despite bearish outlook

ArcelorMittal, the world's largest producer of steel, warned on Friday of lower profits this year but surprised the market by managing to cut its debt to the lowest level since the company was created in 2006.
The company, which produces about 6 percent of the world's steel, said it expected core profits to drop to between $6.5 and $7 billion in 2015, from $7.2 billion in 2014, as iron ore prices sapped earnings in its mining business and steel market growth cooled from last year. To read more, visit

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Thursday, January 29, 2015

Al-Tuwairqi and POSCO to exit from Pakistan

Well - here is a shocking news report.

It would seem that Al-Tuwairqi of Saudi Arabia and POSCO of South Korea, who together invested in the TSML DRI plant in Pakistan, have been unable to secure the low-cost natural gas needed to operate the new DRI facility. Requests to the government of Pakistan to consider TSML’s position have seemingly been ignored; with the result that the DRI plant has not operated since Septem­ber 2013.
In a board meeting held on 27th January 2015 in Dam­­mam, Al-Tuwairqi and POSCO thus decided to permanently close the facility and to exit Pakistan. The investment in the DRI facility was around $340 million. TSML on completion of its integration with steel production was envisioned to be the largest fully integrated steel complex in Pakistan with a capacity of ~1.5 million tonnes per annum. TSML’s exit from Pakistan will therefore be a real blow to the industry.
For this and similar news, check out our steel industry newsfeed at

Andrzej M Kotas
Chief Executive

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Monday, December 22, 2014

World steel news on your mobile phone

We have re-launched our mobile website, which now works on mobiles, smart phones, tablets as well as PCs.
For free 24/7 steel industry news and information, visit us at

Andrzej M Kotas
Managing Director
Metals Consulting International Limited


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Saturday, November 08, 2014

Free steel industry message board

We have launched a free steel industry message board for visitors to Site visitors can post their company classified ads for FREE to an international steel industry audience.
To see the message board, please visit
Thank you.

Andrzej M Kotas
Chief Executive

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Thursday, September 18, 2014

US spot prices for natural gas

Gas consumers in the USA will be watching US spot prices for natural gas with interest. These gas prices have been dropping month by month, with each of the last six monthly price movements being downwards.

As a result, the natural gas spot price (in US $ per million metric British Thermal Units) at the Henry Hub terminal in Louisiana has now fallen from $.5.97 in February 2014 to just $3.88 in August 2014.

Can the downward price trend continue much longer?

For monthly US gas prices, visit

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Sunday, July 06, 2014

Greenfield steel projects not viable

Greenfield steel industry projects are not viable, says Lakshmi Mittal.

Given the glut of steel production capacity around the world, ArcelorMittal will not be pursuing greenfield projects or significant merger-and-acquisition activity. The Luxembourg-based steelmaker, the world's largest, is instead focused on using its existing capacities most effectively, Mittal said.

Lakshmi Mittal was speaking at the AMM XXIX Steel Success Strategies Conference in New York on 17th June.

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