Page 6 - Steel

Govt support will spur industry to shift to low-carbon steel: Sajjan Jindal

The JSW group CMD says steel industry has a crucial role to play in India's pledge to Net-Zero by 2070

Subdued demand reduced freight rates for mining, steel in Nov: Crisil

Freight rates for mining, cement, and steel have seen some corrections on-month in November as infrastructure-building activities were subdued, ratings agency Crisil said.

Steel prices weaken on local, global cues, short-term blip, say companies

While huge production cuts in China have driven down prices; companies see demand improving in international market going forward

Steel firms hike prices by up to Rs 3,500 a tonne on input cost pressure

Analysts say coking coal prices more than tripled in the past five months to $390-400 a tonne in October

JSW Steel to invest Rs 150 crore to set up steel facility in Kashmir

The planned downstream manufacturing facility of capacity 120,000 tonne per annum will also house special lines to produce 'Steel Sandwich Panels' and 'Steel Doors'

Tata Steel commissions 5-tonne-per-day carbon capture plant at Jamshedpur

Is country's first steelmaker to adopt such a technology that extracts CO2 directly from blast furnace gas; will reuse captured CO2 on-site to promote circular carbon economy

Jindal Steel and Power prepays $106 million debt for Australian arm

JSPL has made a pre-payment of USD 106 million (about Rs 777.4 crore) to the lenders of its arm Jindal Steel & Power (Australia) Ltd. Without sharing further details, the steelmaker said the prepayment has helped the company reduce the "Australian debt" by approximately 50 per cent. In a statement on Wednesday, Jindal Steel and Power Limited (JSPL) said through its step down subsidiary, Jindal Steel & Power (Australia) Ltd it has made a pre-payment of 105.66 million USD (approximately Rs 777.4 crore). The company is now aiming to clear all its overseas debt in the coming quarters, the statement said. JSPL Managing Director V R Sharma said, "We are paying back to lenders before time in order to strengthen our balance sheet. The company is aligned with the India growth story and we want to become a net debt-free company by FY23 through accelerated deleveraging". Part of O P Jindal Group, JSPL has a presence in steel, power and mining sectors. The company has made investments ...

SAIL to double capacity to 50 mn tonnes by 2030, starts land bank study

The last phase of expansion by SAIL entailed raising capacity from 12.8 mt to 21.4 mt. But the plan, conceived in 2006-2007, was delayed due to the 2008 global financial crisis

NMDC reduces prices, steel companies roll over prices in September

NMDC, the country's largest iron ore producer, has reduced prices by around Rs 1,000 a tonne, the company informed the stock exchanges on Monday.

High coking coal prices to impact gross margins of steel mills, says Ind-Ra

India's coking coal imports at 5.76 MT in July 2021 were 65 per cent MoM and 114 per cent YoY higher

ArcelorMittal Nippon Steel India commissions 6 million tonne pellet plant

Capacity at Paradeep complex in Odisha reaches 12 mn tonnes, making it India's largest single-location pelletisation complex; AM/NS India's total pelletisation capacity now at 20 mn tonnes

Steel sector outlook revised to positive on continued earnings uptick: Icra

Given the strong earnings growth and capex curtailments following the pandemic-related uncertainty, steelmakers started to aggressively deleverage since the second quarter of FY2021

SAIL aims to bring down borrowings to Rs 20,000 crore

During FY21, net debt had decreased by Rs 16,131 crore to Rs 35,350 crore

Tata Steel Q1 consolidated PAT at Rs 8,907 cr vs loss of Rs 4,416 cr YoY

Led by strong steel prices, top line or total revenue from operations in the period under review stood at Rs 53,372 crore, up 108 per cent from the same period last year

Steel production impacted in Apr-Jun qtr due to second Covid wave: Minister

The country's steel output took a hit during the April-June period of 2021 due to the emergence of the second wave of Covid-19 pandemic, Parliament was informed on Monday.

Core sector output rises 8.9% YoY in June, sequential growth 1.1%

In June 2020, the core sector output contracted 12.4 per cent due to the restrictions imposed across the country to control the spread of Covid-19

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

ArcelorMittal boosts steel outlook as it sees best quarter in 13 years

Steel has surged over the past 12 months, joining a wider commodities boom as producers struggled to meet an unexpectedly strong rebound in demand from the construction and manufacturing industries.

BSE launches delivery-based futures contract in carbon steel billets

The futures contract was designed jointly with SUFI keeping in mind the industry participants needs and participation, the exchange said in a statement

Record steel prices inject life into industry; India set to boost capacity

Industrial demand propels rallies, with plants straining to boost supply after lying dormant during pandemic.