Page 24 - Steel Industry

BS Number Wise: How many years have we lost to coronavirus?

One measure is the change in gross domestic product (GDP). The pandemic chipped away 7.3 per cent of India's real GDP in 2020-21

With massive investment plans, steel leads India Inc's capacity expansion

Several top companies, led by steel majors ArcelorMittal Nippon Steel India (AM/NS India), JSW Steel, Tata Steel and Hindalco, are planning to expand capacity in the next few quarters

India's crude steel output grows 46.9% to 9.2 mn tonnes in May: Report

India registered a 46.9 per cent year-on-year growth in its crude steel output at 9.2 million tonnes in May, according to worldsteel data

Few takers for India's coal mines with production apparently having peaked

Coal consumption to become even more import driven as domestic production plateaus

Rs 6,322-crore steel PLI scheme likely to get Cabinet approval soon

A PLI scheme in specialty steel is expected to boost manufacturing capabilities for value-added steel, increasing exports

Relief for Tata Steel as revenues rise faster than liabilities in FY21

Debt reduction led to sharp improvement in leverage ratio

Steel becomes costlier; companies hike rates by up to Rs 4,900/tonne

The price revision has been made in the last two days, the sources said.

O2 unavailability deepens steel output fall as secondary players shut mills

RP Steel and Arora Steel secondary speciality steel players impacted by the unavailability of oxygen

Sanjeev Gupta's Liberty Steel to sell UK plant in restructuring plan

Liberty Steel, the company led by British Indian businessman Sanjeev Gupta, on Monday announced very constructive and productive meetings as part of its ongoing restructuring plans, which will result in the sale of its Stocksbridge plant in south-east England to help pay back lender Credit Suisse. Gupta, who heads the wider Gupta Family Group (GFG) Alliance, and his newly-formed Restructuring and Transformation Committee held advanced discussions with Credit Suisse Asset Management (CS) in Dubai over the weekend to reach a formal standstill agreement on its Liberty Primary Metals Australia business while refinancing is completed that will repay Credit Suisse out in full. The investment bank has, meanwhile, agreed to pause court proceedings against Gupta's empire while the sale of Stocksbridge is conducted. Both parties also made significant progress in agreeing a framework to resolve GFG Alliance's remaining exposure with CS, Liberty Steel, the UK's third largest steel maker, ...

Street signs: Nifty's new high on cards, Sensex's costly exclusion & more

Technical analysts say the Nifty looks set to log new life-time highs

Industry body IPMA seeks govt intervention to regulate rising steel prices

Industry body Indian Pipe Manufacturers' Association (IPMA) has sought government intervention to regulate the prices of steel, which are trading at an all-time high in India. In a letter to Union Steel Minister Dharmendra Pradhan, the body has also sought a temporary ban on its export, a move which will prevent steel players from diverting their produce to the international markets. "Pipe manufacturers and MSMEs are struggling for a long time due to increased prices and shortage of steel in the domestic market. We had approached your (Steel Minister) office, requesting your kind intervention for regulating prices and imposing a temporary ban on steel export," the letter dated May 20, 2021 said. The association said it has also marked a copy of the letter to the offices of Prime Minister Narendra Modi, Minister of Commerce and Industry Piyush Goyal, NITI Aayog CEO Amitabh Kant, Commerce Secretary Anup Wadhawan, Secretary Department for Promotion of Industry and Internal Trade ...

JSW Steel examining bid for Sanjeev Gupta's British business: Report

JSW's interest, which extends to plants including Gupta's Adhunik steel mill in eastern India, could mark yet another chapter for Britain's steel industry

Tata Steel bulks up for growth without compromising its deleveraging target

The upturn in the steel cycle has allowed it to reconsider overseas asset sales and plan domestic expansion and acquisitions

Jindal Steel opens capex window amid continued deleveraging plans

To double capacity via internal accruals with eye on debt/EBITDA ratio

An asymmetric story: Big steelmakers mint money as smaller ones struggle

Large producers with iron ore mines and export markets are thriving in the current cycle but small ones, with access to neither, are struggling

Google tax: American IT and steel lobbies back action against India

The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax

Tata Steel stock is red hot on stock exchanges amid many triggers

The company's m-cap is up 27% in April so far, and has trebled since Sept 2020

Covid-19: Steel firms expect no production disruption amid oxygen diversion

Market cap of top four steelmakers up 29% in April so far; demand from China is a strong tailwind

Centre's disinvestment plan: A stress test for zombie steel plants

The disinvestment of loss-making plants may likely attract interest from secondary steel makers rather than the big players

RINL privatisation prompts Posco to explore new locations for steel plant

Andhra govt has invited Posco to set up a unit at Krishnapatnam, but steel major has not taken a decision yet