Page 11 - Steel Sector

SAIL reports over Rs 1,226 cr net loss in Q1 due to reduced income

The company had posted Rs 102.68 crore net profit in the year-ago quarter, Steel Authority of India Ltd (SAIL) said in a BSE filing

Steel under spotlight as price inches towards pre-Covid level

Fimi, EEPC raise issue with the govt over price hike, saying domestic market rates are higher than export prices

Steel firms set to raise prices from Sept on higher costs, global prices

JSW Steel said on Thursday that it had started the roll-out of JSW Radiance, a steel colour-coated product range in high-gloss feature with multiple variants

Corporate contraction

Recovery depends on how quickly the pandemic is contained

Covid-19 casts a new light on steel as rural India provides some succour

With rural India being the only bright spot in the pandemic, steelmakers are looking beyond automobile and exports to daily-use products

Moody's Investors Service revises outlook on JSW Steel to negative

Move reflects deterioration in credit profile due to challenges brought by the pandemic

Weak demand, oversupply, price drop to hit steel sector in Q2 FY21: Ind-Ra

Both HRC and rebar prices were down 3 per cent and 4 per cent month-on-month respectively in mid-June

JSPL-Oman steel asset sale completion key for benefits of debt reduction

Deal valuation is good, but analysts watchful

Despite encouraging signs, steel makers not out of the woods yet

Anti-dumping duty on Galvalume steel is positive but more is required to boost the sector ailing under low demand and realisation

Govt to hire consultancy firm to draw action plan for steel sector revival

The government is already aware of the disruptions which have been caused by the outbreak of the pandemic and accordingly various relaxations have been given to the players across the sectors

Domestic sales of steel pick up; rural markets lead recovery in Unlock 1.0

Products sold in rural markets like tractors and motorcycles and roofing sheets were leading the recovery, says T V Narendran

Will touch full capacity utilisation level by September: Abhyuday Jindal

He said that the stainless steel sector has a direct correlation with the GDP growth of the country

Indian steel firms race to plug demand gap in China amid Covid-19 crisis

Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.

Demand set to reach pre-Covid levels by Q3 or Q4 in some sectors

In others, it's too early to predict; while in some, once pent-up demand has been satisfied, it could fall again

As unlock looms, capacity utilisation improves for steel, cement companies

For cement companies, easing of logistical hurdles and improved workers' availability have helped move production levels in May

Liquidity, labour and logistics are the key challenges: JSW Steel's Rao

Ensuring return of labour as important as sending them back home, says Seshagiri Rao

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

Facilitate steel sector's growth to review economy post-lockdown: FICCI

FICCI further recommended subsidising railway freight by an additional 15 per cent for the next six months with a change in class of iron ore from 160 to 145

Steel demand to contract 7.7% in 2020 over coronavirus crisis: ISA

This is in sharp contrast to the earlier projection of 5.1 per cent growth made just a couple of months back, in February.

Covid-19 outbreak could raise downside risk for steel sector: India Ratings

Plant capacity utilisation in India not directly impacted yet, says agency