Page 31 - Steel Industry

India likely to leave behind US in steel consumption this year: Minister

India is expected to edge past the US with regard to steel consumption this year, Steel Minister Chaudhary Birender Singh said Tuesday. Addressing the fourth edition of India Steel 2019, the minister said, "Growth trend in steel consumption in India will continue, due to strong manufacturing sector, diversified demand demographics, accelerated expenditure on infrastructure, anticipated increase in GDP and strong focus on 'Make in India'." "We are likely to leave behind US in terms of steel consumption this year," Singh said. A budget of around Rs 6 lakh crore was allocated for infrastructure development in the current financial year, he noted. "So, based on these enabling factors and with huge potential yet to be tapped, the per capita consumption can easily be increased from the current levels," he added. Steel Secretary Binoy Kumar said that the National Steel Policy 2017 along with the Policy for Preference to Domestically Manufactured Iron & Steel Products have resulted in ...

Govt to investigate allegation of low quality steel in market: Steel Min

Singh said this while reacting to the claim of the First Construction Council (FCC) that 26 TMT bar brands in the country had failed in quality parameters in sample tests

Steel industry needs more curbs, says ThyssenKrupp CEO Guido Kerkhoff

The biggest steel-making nation has reshaped the industry in the past three years by closing plants, tightening environmental controls and imposing targeted production curbs

Steel companies cheer on better utilisation in lean July-September quarter

Lower-than-estimated rainfall lends support to steel industry

Steel sector faces pricing, supply issues; insolvent firms adding to woes

National Steel and Indian Steel might also be soon going before the NCLT

Steel industry hopes govt will bring clear policy to boost ecosystem

Chaudhary Birender Singh, Minister of Steel, to inaugurate MMMM 2018 at Pragati Maidan, New Delhi on August 29

High values of stressed steel assets reflect uncertainty over greenfield

The upturn in the steel cycle is already in its second year

Steel firms' performance to improve further on steady sales: India Ratings

Material deleveraging still a remote possibility for some steel players on the back of capacity expansion plans, leveraged buyouts of stressed assets

Steel firms breathe easy as raw material prices likely to stay range-bound

The upward momentum in steel production and consumption is expected to continue during the ongoing financial year

In a global trade war, India's steel companies are better placed

Supply cuts in China mean better prospects for domestic players; macro issues to weigh on non-ferrous players

Banks will not be reluctant to lend to steel firms anymore: Birender Singh

These are places that are likely to emerge as steel hub for country -Kalinganagar, Angul & Rourkela. At these places only, we would be creating a capacity of 100 mn tonnes, says Union Steel Minister

Steel industry stares at a speed bump with inadequate rail and road infra

Industry is worried inadequate rail and road infra will not allow to swiftly despatch finished products to consumption centres or receive raw material from mines once new capacity comes on stream

Rural electrification: A vague definition or actual transformation?

Does everyone in India now have access to electricity, finally? Going by Prime Minister Narendra Modi's recent announcement that all villages in the country have been connected with electricity, one might be inclined to believe so.However, 30.6 million rural households in the country are yet to receive a power connection.

Domination of JSW, Tata, SAIL in steel set to be challenged by 4th player

Analysts say that many of the competing steel players are worried of ArcelorMittal & Nippoon Steel financial muscle and their ability to expand capacity

JSW, Tata in race for top slot in steel industry

Two steel majors look at capacity expansion, as insolvency process picks up steam for 5 firms

Steelmakers brace for 'short-term' headwinds

As the industry contends with surging imports, it is getting some help from firm finished steel prices and softening input costs

Steel industry continues to see protection benefit

Prices of hot-rolled steel in the Mumbai market have jumped 21 per cent since the beginning of 2016

ArcelorMittal among three steel firms to back out of Odisha projects

Eleven others have not yet started work for setting up steel plants

Steel firms mull Rs 1,000 a tonne hike from April

Pricing power to help domestic steel companies improve fortune in coming months. With iron ore prices on a rise and domestic demand likely to pick up from mid-April, steel producers have already raised product prices by Rs 1,000 per tonne from 15, March and are gearing up for another hike by the same quantum from April. This time most of the companies, according to the source, are raising prices. "Domestic steel firms at a closed-door meeting held 10 days ago have come to an understanding to unanimously raise product prices for April by another Rs 1,000 per tonne," a source close to the development told Business Standard.Domestic steel companies have raised prices by about 70 percent since imposition of minimum import price (MIP) in February 2016. Though prices were raised by Rs 3,000 per tonne in January, most companies had to roll back the hike in the following month either partially or completely as the market was unable to abosrb the revision due to weak demand. However the ...

Tough times ahead for domestic steel producers

It is going to be tough for domestic steel companies to maintain their toplines in coming quarters. With local demand for the industrial commodity not picking up on expected lines and government protection measures to phase out soon, primary producers could come under pressure to cut product prices going ahead."If local demand continues to remain sluggish post March, then it is going to be a big problem for the steel producers," Nitin Johari, chief financial officer at Bhushan Steel told Business Standard. "At present, steel demand is subdued but we need to wait-and-watch as the market sense is that traders will de-stock their material by March and pick up fresh stocks April onwards," he added.Early this month, the government extended by two months (until early-April) the anti-dumping duty on certain cold-rolled flat steel products from four countries including China and South Korea to guard domestic industry against cheap imports. It also pulled out the last 19 steel products from ..