Page 13 - Steel
Steel consumption up 3.8% in May
During April-May, Integrated Steel Plant producers produced 8.688 mt, which was a growth of 8.8%
 "Steel consumption up 3.8% in May")
Primary domestic steel producers to see better profitability in near term: ICRA
The ratings agency said, post the operationalisation of MIP, domestic hot-rolled coil (HRC) prices have witnessed a sharp increase of about 25%
India targetting steel output of 300 mn tonnes: Vishnu Deo Sai
According to World Steel Association (WSA), India already occupies the third spot, with a production of 89.4 MT in 2015
Global steel oversupply must be urgently addressed: G7 leaders
Angry steel manufacturers have urged EU, the second-biggest steel producer, to follow US in punishing China with harsh tariffs
 "Global steel oversupply must be urgently addressed: G7 leaders")
China's top 10 steel mills controlled 34.2% of total capacity at end-2015
The largest 10 mills controlled 48.6% of total capacity at the end of 2010
APL Apollo Tubes to set up manufacturing plant in Chhattisgarh
To be built with an investment of Rs 75 crore, the plant will manufacture galvanised steel tubes, hollow section and galvanised sheets having a total capacity of 60,000 MTPA
 "APL Apollo Tubes to set up manufacturing plant in Chhattisgarh")
Mixed picture in steel output last year
Tough market conditions saw a drop in capacity utilisation for RINL, JSW Steel and JSPL in 2015-16.
Capacity utilisation falls for RINL, JSW Steel and JSPL
However, Tata Steel, Essar Steel and SAIL showed an improvement in the ratio of actual production to their total working capacity
For steel, March quarter good, next even better
Realisations, volumes, and profits will improve in March quarter; next quarter may be stronger
 "For steel, March quarter good, next even better")
4 reasons why Credit Suisse sees the tide turning for Indian steel sector
Markets, too, seem to have taken a note of the changing dynamics in the metals sector, with the Nifty Metal index outperforming the markets with a rise of 24% in the past two months
 "4 reasons why Credit Suisse sees the tide turning for Indian steel sector")
Hiking steel prices not enough for SAIL's turnaround: Report
Fall in steel prices since Jan'15 led to EBITDA losses for SAIL during the period & consequent worsening of its credit metrics
 "Hiking steel prices not enough for SAIL's turnaround: Report")
US lashes out at China for global steel market crisis
The US steel industry is in a crisis driven in large part by global excess capacity
 "US lashes out at China for global steel market crisis")
Steel firms seek more duties on import
They also asked the government to also impose anti-dumping duty and countervailing duty on selected products
 "Steel firms seek more duties on import")
India sets new steel quality standards; auto-grade imports exempt for 6 months
Indian car makers import about 1 million tonnes of high-tensile steel annually, mainly from Japan and South Korea
Steel imports have come down by 1/4th against FY15: Steel Ministry
Global downturn led to countries including China dumping cheap steel in India, which has impacted the sales and profits of the companies
 "Steel imports have come down by 1/4th against FY15: Steel Ministry")
Steel consumption drops in Feb, first time in 3 months
Steel consumption fell 15.5% to almost 6 mt from the preceding month in Nov, but rose 11.2% from a year earlier
 "Steel consumption drops in Feb, first time in 3 months")
Govt. starts probe into circumvention of duty on steel items
It is alleged that the existing anti-dumping measures imposed in 2010, and amended later, are being circumvented and evidence for the same exists to justify the initiative of an investigation
 "Govt. starts probe into circumvention of duty on steel items")
Galvanisation of rail tracks will ensure longer life, safety
Corrosion of old cars, collapsing structures and rail tracks causes losses of around 4% of GDP
 "Galvanisation of rail tracks will ensure longer life, safety")