Page 15 - Steel Producers

Steel producers likely to raise prices in August, albeit marginally

Slight uptick in demand, huge gap between domestic and global prices could drive the decision

Union Cabinet approves Rs 6,322-cr PLI scheme for specialty steel

The scheme has an employment generation potential of about 525,000 of which 68,000 will be direct and the rest will be indirect employment, says govt

Stressed steel plants acquired via IBC seeing faster turnaround: CRISIL

The steel plants acquired via IBC process include Bhushan Steel, Essar Steel, Electrosteel Steels, Monnet Ispat & Energy Ltd and Bhushan Power & Steel

India starts probe into alleged dumping of electrogalvanized steel

India has initiated a probe into alleged dumping of electrogalvanized steel, used in auto and electronics industries, from Korea, Japan, Singapore following a complaint by a domestic company.

Steel makers push for exports as rural stress impacts domestic demand

Rural off-take has taken a hit due to increased spend on health and lower incomes

Decarbonisation, ESG a challenge and opportunity for steelmakers: EY Report

The major challenge that remains in the face of more stringent emission targets is to significantly reduce emissions in the steelmaking process, says the report

Chhattisgarh steel plant demerger to be completed in third quarter: NMDC

NMDC produced 34.15 million tonnes and sold 33.25 million tonnes of iron ore during the financial year 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

Steel producer SAIL shares climb 5% after quarterly earnings

Shares of SAIL on Friday rose by 5 per cent after the company posted a 31 per cent jump in its consolidated net profit for the quarter ended March 31, 2021.

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.

Karnataka puts on hold decision to sell 3,667 acres to JSW Steel

This comes amid opposition from within the ruling BJP and cases pending in courts

Amid key concerns, metal stocks may see soft trend in medium-term

Cloud over domestic demand, rising global supplies and high valuations are key concerns

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, ...

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

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

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

Jindal Steel prepays Rs 2,462 cr term loans, pares debt beyond commitment

JSPL has recently announced divestment of its thermal power business to reduce its debt further as well as to cut down on its carbon footprint by almost half

Steel stocks steal the show in lacklustre April for equity markets

Returns for the month slipped into marginal negative territory because of the 2 per cent fall on Friday

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: JSW Steel reduces production to ramp up supply of medical oxygen

Saving lives more important than producing steel, says Sajjan Jindal