Page 27 - Steel Industry

ArcelorMittal reports $559 mn loss in June quarter; sales down to $11 bn

Total steel shipments in the second quarter of 2020 declined 23.7 per cent to 14.8 million tonne (MT), significantly impacted by the adverse effects of Covid-19 pandemic across all regions

Tata Steel Dutch employees safe from job losses, says Labour Union

There are about 9,000 workers at Ijmuiden. FNV said an agreement has also been reached on the company structure.

FinMin told to levy tax on imported goods to boost local products: Pradhan

The proposed Border Adjustment Tax would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally-made products.

China top buyer of Indian steel under lockdown, accounts for 48% exports

Icra says in first two months of the current fiscal, Indian finished steel exports grew 76% YoY, and that China alone accounted for close to 60 per cent of this increase

Tata Steel slips into red, logs Q4 consolidated pre-tax loss at Rs 1,499 cr

The company had a profit of Rs 4,252.50 crore in the corresponding period last year

Steel imports worth Rs 20,000 cr avoided due to DMISP policy: Pradhan

Domestically manufactured iron and steel products (DMISP) policy was launched in 2017 and has helped India avoid steel imports worth over Rs 20,000 crore

US-based firm betters JSW offer in race for Asian Colour Coated Ispat

New US-based bidder offers better deal than JSW

Top headlines: Fitch predicts growth at 9.5% in FY22, AGR hearing, and more

From S&P retaining India's sovereign rating and outlook, SC relief to Amrapali homebuyers to HUL's crorepati club shrinking, here are top news of the day

Covid-19 impact: Tata Steel Dutch workers strike work on job cuts

According to FNV Union, this meant that raw materials were no longer available for the blast furnaces, pellet factory and sinter factory.

Covid-19 crisis: Test for steel industry as domestic demand shrinks

Shrinking domestic demand offers the industry the chance to become globally competitive

Target 300 million tonnes: Steel companies gear up for value creation

Industry majors saw in sick assets an opportunity to expand operations

Earnings drought

Corporate results would get a lot worse in the coming quarters

Hopeful of V-shaped recovery for steel sector: CEO Vedanta Electrosteel

'Expectedly, steel enterprises like ours acquired from the sickbay have suffered major production setback since the outbreak of Covid-19'

Defence reforms: Indian manufacturers looking to ride the opportunity

FM Nirmala Sitharaman had announced a series of measures to boost investments in India's defence and aerospace sector last week as part of the tranche 4 of the Rs 20 trillion economic stimulus

Hit by Covid-19, JSW Steel seeks time to pay for Bhushan Power purchase

As steel prices crash, firm facing winner's curse with Rs 19,700-cr acquisition

Tata Steel resumes talks with Germany's Thyssenkrupp for possible merger

Baosteel, SSAB also in race for German steel firm

Icra revises domestic steel industry outlook to negative from stable

Sees domestic demand for the alloy declining by 20% in FY21

Big ticket infra projects to boost steel demand despite slowdown: RINL CMD

A government task force recently projected total investment of Rs 111 trillion in infra projects over five years to augment infrastructure and create jobs in the country

Steel sector may miss peak order season, wants supply chain opened up fully

The problem is especially acute in the tubes and pipes segment where 30 per cent of India's steel production is used

ArcelorMittal beats first quarter profit estimates, sees sharp drops in Q2

First-quarter core profit (EBITDA), the figure most watched by the market, was $967 million, compared with the average forecast in a company poll of $867 million