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Nifty Metal index slips 4%; SAIL, Jindal Steel tumble up to 14%
Fri, 22 Jan 2021 00:00:00 GMT
Welspun Corp, Hindalco Industries, Hindustan Copper and JSW Steel were down 5 per cent in intra-day trade on the NSE

India: Steel sector, users in for more shocks as iron ore prices ...
Mon, 18 Jan 2021 00:00:00 GMT
Steel and user industries in India are in for more price shocks as iron ore rose to a near 10-year-high on January 14, with Chinese customs data showing record imports by Beijing. They can expect some relief after the first quarter of 2021, with prices expected to drop in the second quarter and even below $100 a tonne in the following quarters. Iron ore prices increased to 10-year-high in December before retreating on reports of China wanting to reduce its steel output. Mining.com, quoting

Nifty Metal index slips 4%; SAIL, Tata Steel, Hindustan Copper ...
Mon, 18 Jan 2021 00:00:00 GMT
An increase in coking coal prices would not augur well financially for steel companies' in India, ICICI Securities said in a

Tata Steels sales momentum continues as Q3 production grows 3% ...
Mon, 11 Jan 2021 00:00:00 GMT
Tata Steel India reported a 3% year-on-year growth in its crude steel production at 4.60 million tonne for the third quarter of the current fiscal with momentum continuing in sales, though constrained by lower opening inventory post a stronger sales during the second quarter of the fiscal. Deliveries were 4.66 MT in the third quarter, lower by 8% quarter-on quarter and 4% y-o-y. Domestic deliveries sharply ramped up to 4.16 MT. Exports shrank below 11% of overall deliveries. Automotive &

Steel sector seeks relief in customs duty on key raw materials
Thu, 07 Jan 2021 00:00:00 GMT
The domestic steel industry is seeking reduction in basic customs duty on key raw materials like anthracite coal, metallurgical coke, coking coal, and graphite electrode in the upcoming Budget. The non-availability of these items in good quality and quantity hinders the growth of the steel industry, industry body Confederation of Indian Industry (CII) said in its Budget recommendations for the sector. The basic customs import duty on anthracite coal is 2.5 per cent. The availability of the

Metal stocks surge as steel producers hike prices again on buoyant ...
Wed, 06 Jan 2021 00:00:00 GMT
The rally in metal stocks continued on Monday, with steel companies announcing another round of price hike of 1,500 a tonne for hot-rolled coil in January. Similarly, TMT rebar prices were hiked by 2,400 a tonne as the demand from infrastructure and real estate projects is looking up. The industry is preparing for another price increase of 3,000 a tonne by mid-January as the domestic prices are still at discount to international rates . Tata Steel and JSW Steel touched a new 52-week high

Indian Iron Ore Miners Demand Import Duty Withdrawal
Mon, 04 Jan 2021 00:00:00 GMT
Last week, steel industrys representative body Indian Steel Association (ISA) urged the PMO to impose a temporary ban on exports of iron ore for six months to tide over the present supply crisis which is resulting into price rise of the raw material and causing steel price hike. Reacting to the steel industrys demand for a ban on iron ore exports, miners have written to the Prime Ministers Office (PMO), calling for withdrawal of import and other duties meant for shielding the domestic

FY22 outlook: Steel demand should grow at GDP growth rate, says ...
Mon, 04 Jan 2021 00:00:00 GMT
Tata Steel CEO and managing director T V Narendran on Wednesday said the steel demand in the country should grow at least at the rate of GDP growth or higher in FY22. He expressed optimism about the demand for steel in India in 2021, backed by inflow of funds from across sectors and an uptick in the overall consumption; governments efforts to improve infrastructure, coupled with the Atmanirbhar Bharat policy and the Production Linked Incentive (PLI) initiative. Additionally, the

Jindal Steel & Power receives upgrade in credit ratings from ...
Thu, 31 Dec 2020 00:00:00 GMT
Jindal Steel & Power announced that Care Ratings, has upgraded its Rating from CARE BBB (-) with Stable outlook to CARE BBB (+) with Stable outlook on the Long Term Bank Facilities and Non-Convertible Debentures and from CARE A3 to CARE A2 for short term facilities of Jindal Steel and Power. Source: Capital

India: Steel cos blame high cost of iron ore for price hike
Wed, 30 Dec 2020 00:00:00 GMT
Steel companies have urged the government to temporarily ban iron ore export to improve domestic supply and bring down prices. Steel producers have come under heavy criticism for hiking prices consistently and putting pressure on infrastructure projects. In a letter to PK Mishra, Principal Secretary to the Prime Minister, the Indian Steel Association said a temporary ban on exports of high-grade fines and lumps for six months or till the situation stabilises, will increase domestic supply.

JSW Steel to acquire 31% stake in Italy's GSI Lucchini
Tue, 22 Dec 2020 00:00:00 GMT
The balance share capital of GSI is already held by JSW Steel Italy Srl. The manufacturing unit of GSI is located at the port city of Piombino in Tuscany region, providing easy access to export

Steel production is on the rise for JSPL, but stock price is ...
Wed, 16 Dec 2020 00:00:00 GMT
Jindal Steel and Powers November production jumped 15% year-on-year (y-o-y), which is a shade higher than Octobers 13% growth. This shows JSPL is sustaining its double-digit run rate witnessed in October. Jindal Steel and Power Ltd (JSPL) continues to show that the recovery in the steel cycle is taking hold. Besides, iron ore inventories at its Sarda Mines is also helping production. The stock gained 1% on Monday due to higher crude steel production. The firms November production jumped

Number of JSW news reports: 12
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