Page 5 - Steelmakers

Bright outlook for steel makers over fears of Ukraine war-led supply crunch

High input costs amidst supply disruptions, and adverse change in output/demand in key markets like China are downside risks

Ukraine-Russia conflict to burden steel makers with higher input cost: Icra

The ongoing conflict between Ukraine and Russia will burden domestic steelmakers with high input costs, according to rating agency Icra. However, the tension between the countries provides exports opportunities to the Indian steel players, the rating agency said in a statement on Monday. "Russia-Ukraine conflict to heighten input cost pressures, but also open up export opportunities for Indian steel companies. Sanctions on Russia could open new export opportunities for Indian steel mills in geographies like Europe, the Middle East and the USA, which could face supply shortages in the near term," it said. Notwithstanding the input cost pressures, the industry earnings are expected to remain healthy in the next 12 months and its outlook for the industry remains positive, Icra further said. The domestic steel demand is also pegged to grow at 7-8 per cent in FY2023 on the back of an estimated growth of 11-12 per cent in FY2022, supported by the government's large infrastructure spendin

India's top steelmakers seek federal funds to cut carbon emissions

NEW DELHI (Reuters) - India's top steelmakers have urged the government to provide federal funding and other economic assistance to help them meet targets for cutting carbon emissions, a leading industry body said.

Steel demand firm, but higher input costs to pare margin in H2: CRISIL

Next fiscal year, steel demand is expected to grow at a moderate pace of 6.5-7.5%, led by further pickup in construction activity

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)

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

Steel maker AMNS India looking to foray into domestic renewable market

Steel maker AMNS India is looking to enter the domestic green energy market, the company's CEO Dilip Oommen said on Friday. AMNS India is a 60:40 joint venture between Luxembourg-based ArcelorMittal and Nippon Steel of Japan. In 2019, the two foreign entities completed the acquisition of Essar Steel Limited plant located at Hazira in Gujarat, and later renamed it as ArcelorMIttal Nippon Steel (AMNS) India. AMNS India is exploring opportunities in the Indian renewable energy market, Oommen said. Without sharing any further details, he said the business plan is being worked on at present. In August, Lakshmi Mittal, the executive chairman of the parent firm ArcelorMittal along with Oommen had met the then Gujarat chief minister Vijay Rupani. During the meeting, Mittal had committed an investment of Rs 1 lakh crore in the state, of which Rs 50,000 crore was to be utilised to expand capacity of Hazira plant and the remaining Rs 50,000 crore in the field of hydrogen gas and renewable ..

Steel companies negotiate 10-16% price increase for auto manufacturers

While some mills have finalised contracts, others hope to close by month-end. Deals are for April-June quarter

Two-month IPO drought set to end with Shyam Metalics Rs 909 cr offer

Steelmaker prunes size issue by 18%, to launch IPO next week

Large steel mills grow larger on improved supply-chain efficiencies: Crisil

Market share gain, deleveraging makes room for capex revival

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.

Global steel price surge leaves scope for hike in domestic market

The current price differential is the highest in over 13 years, surpassing the previous high of Rs 13,000 a tonne seen in June-August 2008

Duty cut on steel products to exert near-term pressure in Indian cos: Icra

Decision will make imports competitive, Chinese firms may gain

Steelmakers write to PMO defending price hike, demand iron ore export ban

A steel producers' body has written to PM Modi, explaining that the metal price hike was due to surging raw material costs

SAIL turnaround most challenging phase in 36-yr career: Outgoing chairman

The turnaround of SAIL from several quarters of losses was one of the most challenging experience, said Anil Kumar Chaudhary, the outgoing Chairman of the country's largest steel maker

Selling few iron ore blocks infrequently creates artificial deficit: Jindal

Says people end up paying a huge premium and then the assets become unsustainable

Steel makers raise prices by Rs 1,200 per tonne on demand uptick

Prices are now closer to peak levels of 2018

Swedish steelmaker SSAB looking at merger of Tata Steel Europe business

Steel producers in Europe are under pressure to consolidate, having been battered by weaker demand and global overcapacity

Liberty Steel restarts production at Adhunik facility, restores 1,500 jobs

Adhunik will transition into GREENSTEEL - a model combining steel recycling with low carbon and renewable power sources - to create a more sustainable competitive operation

Indian steelmakers turn net exporters to China in April-Aug: Crisil

Crude steel production fell a lower 27 percent on-year despite a massive 38 percent decline in domestic demand between April and August