Page 3 - Steel Companies

Kamdhenu demerges paints biz; to list new entity Kamdhenu Ventures in Q2

Post demerger, Kamdhenu Ltd will continue to focus on steel business, while Kamdhenu Ventures Limited will expand the paints business

Sanjeev Gupta's Liberty Steel says reached a standstill with Greensill Bank

Sanjeev Gupta's Liberty Steel said it reached a standstill agreement with Greensill Bank AG, its largest creditor, on debt facilities relating to its European steel businesses

Top mining, steel groups warn of adverse impact from export duty hikes

The increase in export taxes on iron ore, announced by the government over the weekend, will lead to large surpluses at home, and mainly hit producers of low grade ores that depend on overseas markets

Rising raw material cost pushes steel prices to fresh record highs

Raw material prices had been on the rise, but since Russia waged war on Ukraine, prices surged.

Steel firms expect higher offtake from auto in Q4 after weak show earlier

It isn't clear how soon the chip shortage will get sorted, but analysts expect a gradual easing of constraints. Over a two-year timeframe, strong growth is expected from CVs and PVs

Steel firms roll over prices in January after steep correction in December

The rationale for prices to hold rests on a bunch of factors. Indian prices while similar to import price parity were still among the lowest prices globally, companies point out

Steel production needs to be decarbonised, says new worldsteel chief

Newly elected worldsteel Chairman Sajjan Jindal on Wednesday called for a joint effort of the industry to "build cleaner future" by working towards decarbonising steel production.

Tata Steel, JSW Steel subsidiaries ramp up capacity in tinplate

JSW Coated and JSW Vallabh Tinplate, the wholly owned subsidiaries of JSW Steel, are increasing capacity from 350,000 tonnes to 620,000 tonnes

Race for steel supremacy begins with disinvestment plans for three units

Among the upcoming assets, Tata Steel is keen on participating in the bidding process for RINL

SAIL aims at reducing net debt to Rs 15,000-20,000 crore in FY22

Steel Authority of India Ltd is aiming at reducing its net debt to a range of Rs 15,000-20,000 crore in the current fiscal if the prices and demand for the commodity remain stable

Jindal Steel plans $2.4-billion spend in six years, double output

The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said in an investor presentation on Tuesday

Iron ore price fall yet to completely reflect in the domestic market

Steel companies in wait-and-watch mode, expect reduction from NMDC

Export fetters by China, Russia spell good news for Indian steelmakers

China has removed export tax rebates for 23 steel products. Export tax on key steel-making inputs pig iron and ferrochrome is set to rise

Rising global steel prices may tone down a bit as supply eases:CARE Ratings

Led by China and India, world steel production grew 15% YoY during the first five months of CY21

Steel companies reduce prices by Rs 1,200-2,000 a tonne across products

Companies say, correction may be temporary

Steel companies negotiate 10-16% price increase for auto manufacturers

While some mills have finalised contracts, others hope to close by month-end. Deals are for April-June quarter

Steel companies likely to add 29 million tonnes capacity in five years

With a better financial health, leading companies are now better placed to undertake expansion projects than they were in the past several years

Indian steel companies see long-term change as industry rally continues

DMarket has rising since November and even lockdowns for Covid-19 have not hurt demand, say executives.

Auto companies may see sharp increase in prices for steel contracts

Some have temporarily shut down units in the wake of rising Covid cases, but at least three major suppliers to the auto industry said the move was unlikely to impact negotiations

India Inc lends a hand to ease shortage and transportation of oxygen

On Friday, Dharmendra Pradhan tweeted that steel units across India had supplied over 143,000 tonnes of liquid medical oxygen till now with steel CPSEs pitching in with 39,000 tonnes