Page 14 - Steel Producers

JSW Steel earmarks Rs 15,000 cr to expand Vijayanagar facility by FY24

JSW Steel is the flagship business of the diversified USD 13-billion JSW Group, which has a presence in sectors such as energy, infrastructure, cement, paints, sports and venture capital

Tata Steel UK plant helps build world's largest offshore wind farm

Tata Steel said hundreds of tonnes of its products, able to endure the harsh North Sea conditions, will be used for the giant wind farm project located 130 km off the north-east coast of England

JSPL to bid 'aggressively' for debt-laden steel maker NINL next week: MD

December 23 is the scheduled date for bidding for Neelachal Ispat Nigam Ltd (NINL)

Coal diversion to power firms leaving non-power ones fuel-starved: ICPPA

Any power outage in aluminium plants will lead to catastrophic impact and complete shutdown

China steelmaking ingredients fall as utilisation rates slip for 7th week

Capacity utilisation rates of blast furnaces at 247 steel firms across China declined for the seventh straight week

Steel Minister directs PSUs to make non-operational mines functional

The minister made the remarks at a meeting with CMDs of Steel Authority of India Limited (SAIL), NMDC and Manganese Ore India Limited (MOIL)

China iron ore futures surge on hopes of resuming steel production

Spot prices of iron ore with 62% iron content for delivery to China rose $4 to $95.5 a tonne on Monday

Industry body PHDCCI bats for having regulator to check steel prices

The chairman of the PHDCCI's metals and minerals committee made the request to the government at a session to discuss the issues faced by the stakeholders of the industry

French prosecutors widen investigation into Sanjeev Gupta's GFG group

The investigation was launched in July after suspicious activities were reported by public officials

Jindal Stainless second quarter net profit grows 5-fold to Rs 412 cr

Demand from all major end-use segments like process industry, pipe and tube, railways and wagons, and metro rail grew during the quarter

Steelmaker POSCO reports highest-ever quarterly operating profit in Q3

The South Korean steelmaker reported its highest-ever quarterly operating profit in the third quarter

Coal shortage may prove a hurdle in the recovery of smaller steel players

Many units in this space expect capacity utilisation levels to drop drastically a few months down the line due to the crunch in the supply of the fossil fuel

Government notifies PLI scheme guidelines for specialty steel

The government on Friday said it has notified guidelines for the recently announced Production Linked Incentive (PLI) scheme for specialty steel. On July 22, the Union Cabinet chaired by Prime Minister Narendra Modi had approved the Rs 6,322-crore PLI scheme to boost production of specialty steel in India, attract additional investment of about Rs 40,000 crore and generate fresh 5.25 lakh job opportunities. In a statement, the Ministry of Steel said that "guidelines for an effective operation and smooth implementation of PLI Scheme have been notified on October 20, 2021 on the website of the ministry. Guidelines offer clarity on operational aspects of the scheme such as the application, eligibility, disbursement of incentive and so on". The five categories of specialty steel which have been included in the PLI scheme are coated/plated steel products, high strength/wear resistant steel, specialty rails, alloy steel products, steel wires and electrical steel, the ministry ...

JSW Steel Q2 consolidated net profit rises 350% to Rs 7,170 crore

Saleable steel sales for the quarter stood at 3.83 million tonne (Indian operations excluding JVs), an increase of 10 percent sequentially

Tata Steel rating raised to 'BBB-' on reassessment of group support: S&P

Ratings agency places stable outlook on Tata Steel on continued deleveraging efforts

India to buy coking coal from Russia; Steel firms look to diversify imports

Move is part of India's National Steel Policy 2017 under which the country aims to reach 300 mn tonne steel output by 2030 while simultaneously working on forward and backward integration

Coal shortage in India leads to soaring costs for steel producers

'Mills are paying more than four times the normal costs for procuring coal from e-auctions and from mines'

India's steel output expected to jump 18% to 120 MT in FY22: MoS Steel

India's crude steel output is expected to soar about 18 per cent to 120 million tonnes (MT) by the end of the ongoing financial year, Minister of State (MoS) for Steel Faggan Singh Kulaste said

Ahead of Q1 results, Tata Steel rallies on rare double ratings upgrade

An improving balance sheet is aiding the bullish sentiment as Tata Steel joins scores of Indian corporates who are using record-low interest rates to trim their liabilities.

S&P upgrades Tata Steel's long-term issuer rating to 'BB' from 'BB-'

The outlook on ratings is stable and reflects the view that the company can adequately deleverage to reduce volatility in credit metrics during industry downturns