Page 4 - Steel Companies

ThyssenKrupp to slash 11,000 jobs after recording $6.5 bn net loss

Sees another billion-euro deficit after 5.5-bn euro loss

Steel traders, re-rollers face weak domestic demand: CRISIL SME Tracker

A moderate demand revival is expected in the second half of this fiscal, led by improving auto sales and pick-up in construction activity.

Steel firms plan return to office, set up 'flexible' policies for employees

Tata Steel will allow employees to choose between working from home or office; JSW Steel is weighing a distributed workplace strategy

Raw material crisis may lead to closure of SME steel units: Industry body

Steel wire makers, belonging to the labour-intensive small and medium enterprises sector, are facing acute raw material shortage that may lead to the closure of several units

Maithan Steel committed to expand production capacity despite Covid crisis

The company is also focusing on an advertising campaign to promote its TMT bars

Steel costlier than Covid level after firms hike prices by Rs 2,000 a tonne

The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces

Steel producers see retail strengthening despite spiking Covid-19 cases

While Covid-19 pandemic is setting a new normal for most industries across sectors, domestic primary steel producers too are adopting different ways to enhance focus

Commercial mining: Steel cos stay away from bidding in coking coal blocks

No steel company has shown interest in bidding for four coking coal blocks of 38 mines put on auction for commercial mining as they have concerns about fuel quality and high capital cost

Margins under pressure, steel industry seeks ban on exports of raw material

The domestic secondary steel industry contributes nearly 55 per cent to the total production of the alloy in the country

Steel companies reorient strategy to capture rising rural demand

While some companies have chalked out a relatively long-term plan to increase market penetration, others are seeing rural demand bounce back to pre-Covid levels

Steel firms set to raise prices from Sept on higher costs, global prices

JSW Steel said on Thursday that it had started the roll-out of JSW Radiance, a steel colour-coated product range in high-gloss feature with multiple variants

Help govt in providing low-cost homes for migrants: Pradhan to steel firms

Pradhan said the government has set a target of providing 100,000 such houses, but the industry should build many more steel-intensive, low-cost houses, which will be a model for others to emulate

Steel firms hike prices by Rs 2,000 a tonne in 10 days on demand spike

Key players say market has bottomed out, hike also driven by higher iron ore, scrap costs

SAIL's stockpile of iron ore fines give company opportunity for profit

Profits from the sale of high-grade iron ore fines could help state-owned company reduce debt

Coronavirus drags Tata Steel production and sales volume in Q1FY21

June sees improvement in sales, utilisation up to 80 per cent

India's steel demand likely to fall by 18% in 2020, Worldsteel report

Although the downturn is led by consumer and service sectors, massive dislocations in spending, labour markets, and confidence are fuelling declines in steel-using sectors, the global body said

Covid-19: Nitin Gadkari exhorts steel players to eye bigger global share

He said by upgrading technology in the sector, India could also attract huge foreign direct investment, thereby creating employment

No uniform policy a big hurdle for production: AMNS India CEO Dilip Oommen

Infrastructure steel consumption has not picked up yet. Some steel consuming segments like auto have started their production. Full revival will take some time, says Dilip Oommen

Top headlines: Steel firms struggle, state finances to take a hit, and more

From Uber and BigBasket joining hands to deliver essentials, oil producers seeking relief from govt to venture capitalists warning start-ups, Business Standard brings you top headlines of the day

Steel firms bear the brunt of Covid-19 impact, to scale down production

Sajjan Jindal's JSW Steel has already announced its decision to cut production at its plants