Page 2 - Steel Firms

Top headlines: Auto-debit payments, steel firms' stocks surge, and more

Here are the top business headlines on Wednesday morning

AM/NS India inks pact with Odisha govt for Rs 50,000-crore steel plant

The MoU for the Odisha plant comes shortly after AM/NS India completed a year of operations

ArcelorMittal Nippon Steel to set up Rs 50,000 cr integrated unit in Odisha

The plant, coming up at Kendrapara, is in addition to other investments of AM/NS in the state such as 6MTPA pelletization plant in Paradeep, beneficiation complex in Keonjhar and slurry pipeline

Steel firms say they are bullish on demand, prices after coronavirus crisis

Recovery has been sharp after the economy opened up, say industry leaders at a conclave

Covid-19 impact: Steel firms to focus on exports till demand improves

For the next one to two months, the focus will be on a balance between domestic sales and exports, say experts

As Steel firms bid 2019 goodbye, they hope for better pricing in 2020

Analysts see commodity prices looking up and say looking forward to a pick-up in consumption

'More innovation': Steel firms welcome ArcelorMittal's entry to India

Presence of more companies in the market will lead to more innovation, quality and R&D activities, said domestic steel players on Thursday while reacting to the entry of global steel giant ArcelorMittal in India. "We don't see ArcelorMittal as a challenge," JSW Steel Chairman Sajjan Jindal told PTI on the sidelines of the ISA Steel Conclave here. More the number of players, more the research & development (R&D) activities, innovations, quality in the market, he added reacting to a question how will the ArcelorMittal's entry benefit the consumers. Jindal Steel and Power Chairman Naveen Jindal said, "We see its (ArcelorMittal's) entry as a positive step." Tata Steel Chief Financial Officer Koushik Chatterjee also said there should be competition in the market. Steel Authority of India Ltd (SAIL) Chairman A K Chaudhary said, "ArcelorMittal's entry will promote healthy competition in market." The industry looks forward to work with them in future, he added. Last week, the ...

Cement and steel firms hike prices as construction demand picks up

Some industry players, however, warn that price recovery is supply-led and not demand

As demand tapers, steel firms rush to export market to clear stock

Most of the producers said they were exporting more to bring down the inventory

Steel firms set to shine in New Year

Analysts expect China's steel output cuts to result in stronger earnings for Indian manufacturers in the next 2-3 quarters

Bid deadline for stressed steel firms extended

Move to ensure more bidders for Bhushan Power, Electrosteel

Steel firms plan to help lenders in insolvency

Bhushan Steel, Electrosteel, Monnet, Bhushan Power & Steel have no plans of stalling process

Margin contraction likely at steel firms in Jan-March quarter

Higher input cost amid weak realisation is expected to keep the performance of steel companies muted in the March quarter, brokerages said. With domestic consumption of steel not picking up, they've not been able to pass on the input cost rise to customers. However, there has been a rise in output and export over 2016-17."Except Tata Steel, we expect companies to report a weak set of numbers in Q4 (the March quarter), as they were hit with a fall in steel prices in February and March, as well as higher coal cost," said Elara Capital. JSW Steel is likely to be affected the most, hit with both higher coal cost and iron ore cost. Tata Steel India, however, imports only 67 per cent of its coking coal requirement."This would be a consecutive quarter when companies are facing margin contraction," says IIFL. "Steel players were unable to pass on the increase in input costs due to resistance from consumers, de-stocking and subdued demand. As a result, margins would be squeezed further on a ...

Steel firms hike prices by Rs 3,000 per tonne

Cost of steel production for domestic blast furnace players will increase by Rs 5,750 in the 4th quarter over the 3rd quarter of FY17