Page 5 - Steel Prices

MSME engineering exporters seek PM's intervention on rising steel prices

Exporters in the MSME segment have sought PM Narendra Modi's intervention on rising steel prices, stating that the industry needs inputs at affordable rates for global markets.

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 ...

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

Surging steel prices not to affect domestic demand says Tata Steel CEO

The rising prices of steel which is widely used in sectors like construction, auto, etc will not affect the demand in the domestic market, Tata Steel CEO and Managing Director T V Narendran has said.

JSW Steel's April crude steel output dips 5% as it focuses on oxygen supply

In April, over 20,000 tonnes of LMO were supplied from firm's steel units; company was supplying 185 tonnes a day of LMO mid-April, which has now been raised to 1,200 tonnes

Govt ready for another cut in import duty on steel to tame prices

The government has proposed to slash import duties on steel items further bringing it to zero or near-zero levels to provide relief to MSMEs

Domestic steel players poised for strong deleveraging plans as prices surge

With profitability at record levels, even if steel prices correct by 15-20% going ahead, players would still be in a comfortable position to deleverage, says an analyst

Strengthening of steel prices to support Tata Steel's deleveraging: S&P

Sustained steel prices at these levels could lead to upward rating pressure.

Amid metal rally, SAIL's stock price rises 50% in one month

Analysts at Equirus believe the SAIL stock is 'poised for a big leap' with key triggers being capacity expansion, more room for price increase and captive iron ore resources

Real estate projects to feel the pinch as steel, cement prices rise

Road transport & highways ministry charges a 10x toll rate for major bridges, structures

Auto companies may see sharp increase in prices for steel contracts

Some have temporarily shut down units in the wake of rising Covid cases, but at least three major suppliers to the auto industry said the move was unlikely to impact negotiations

Surge in steel price opens up room for companies to increase rates

Steel prices started rallying from March after the Chinese New Year holiday

Steel prices may take 2 yrs to cool down as demand increases: JSPL MD

Steel prices might take at least two years to cool down as its demand is consistently increasing, a top industry executive said

Steel prices hiked by Rs 5,000 a tonne on global rally, iron ore rises too

The last time steel price rose was in Jan when it touched an all-time high. But it came off those highs as China moved into the new year holiday season on pressure from end users in domestic market

From JSW to SAIL, major steel companies' stocks show strong upside

Brokerages bullish on improving cycle and higher prices

Financial stress may delay Liberty Steel's project expansion plans in India

Media reports said near-collapse of Gupta Family Group Alliance's biggest lender has completely choked off the key source of funding

Metals to crude oil: Consumers face the brunt of commodities price surge

Durables makers hike prices to offset input costs

Positive cues from China to keep steel prices, demand and supply in balance

China's opening post-holidays was keenly awaited, especially in the wake of the sluggishness in the market in January

After rally, steel and iron ore on course correction led by higher supplies

Price correction started mid Jan, with secondary producers dropping drop long product prices by Rs 7,000-8,000 a tonne; primary producers followed in Feb, pruning by Rs 2,000-3,500

Govt may consider effect on industries before imposing duties

In her Budget speech, the finance minister said, "MSMEs and other user industries have been severely hit by a recent sharp rise in iron and steel prices