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Steel prices ease over 10%, coal crisis playing havoc on secondary ...
Tue, 17 May 2022 00:00:00 GMT
Steel sector players are facing some heat owing to high input commodity prices as finished steel products have begun to decline since April after the Russia-Ukraine war broke out. Prices in the long products segment have declined on an average of 10-15 percent to Rs 57,000 per tonne in the Kolkata market from a high of Rs 65,000 a tonne. Coal which is a key raw material for the secondary steel producers has turned out to be the major pain point, officials said. Steel prices from leading

India: Domestic steel outlook firm amid concern of global steel ...
Tue, 10 May 2022 00:00:00 GMT
The Indian steel sector outlook, on the back of strong domestic demand from government and private sectors, is likely to remain firm amid concern of global demand uncertainties in the current fiscal. Tata Steel expects that demand and prices will remain strong as China will no longer be adding 50-60 million tonnes to its capacity annually and that country may not export significantly higher quantities to disrupt steel prices globally. However, India Ratings and Research (Ind-Ra) has

Tata prefers growing organically over acquisitions this decade
Tue, 10 May 2022 00:00:00 GMT
Tata Steel aims to expand the capacity through organic growth at its existing facilities to grow its steel production capacity to 40-50 million tonnes/year through 2030, from the existing 20m t/y, it says. It doesn't need to acquire new assets to reach its production goals, Kallanish notes. Most of our growth in the last

Tata Steel closes Russian business ties
Thu, 21 Apr 2022 00:00:00 GMT
Tata Steel has decided to stop doing business with Russia amid the Russian military invasion of Ukraine, making it the first global steel company to cut ties with Russia for invading Ukraine,Kallanishnotes. Tata Steel does not have any operations or employees in Russia, Tata Steel informs in a press release. We have taken a

Market movers: Jhunjhunwala sells stake in SAIL; Inox Wind crashes ...
Wed, 20 Apr 2022 00:00:00 GMT
Rakesh Jhunjhunwala has sold some or all of his stake in Steel Authority of India (SAIL), the latest shareholding data released by the company

India's Tata Steel to stop doing business with Russia
Wed, 20 Apr 2022 00:00:00 GMT
Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia, Tata Steel said in a

ED raids JSPL premises in Delhi, Gurugram over forex violation
Mon, 18 Apr 2022 00:00:00 GMT
ED officials visited office premises of Jindal Steel and Power Limited (JSPL) in Delhi and neighbouring Gurugram as part of the investigation being conducted under provisions of the Foreign Exchange Management

Investigate Jaiprakash Associates: SAIL to NCLT
Fri, 15 Apr 2022 00:00:00 GMT
According to sources familiar with the contents of the lawsuit, SAIL has accused Jaiprakash Associates of pledging shares of Bhilai Jaypee Cement without its authorisation to Yes Bank for loans that were obtained by other Jaypee Group

Liberty Steel foresees 50 UK net job reductions
Wed, 13 Apr 2022 00:00:00 GMT
Liberty Steel is envisaging a net reduction of some 50 jobs in the UK as part of its ongoing restructuring process. 162 roles will be scrapped at the High Value Manufacturing Stocksbridge plant and 45 at the Performance Steels business in West Bromwich, while up to 161 positions will be added at Rotherham. The

Stock recommendations: Buy Steel Authority of India, target price ...
Wed, 13 Apr 2022 00:00:00 GMT
Indian steel firms are likely to benefit because of the demand-supply disruptions caused by the Russia-Ukraine war. The major beneficiary seems to be Tata Steel as it has a global presence; 51% of revenue comes from international operations and 49% from

Saving on logistics costs: Steel companies betting big on captive ...
Tue, 05 Apr 2022 00:00:00 GMT
Jindal Steel and Power (JSPL) emerging as the highest bidder for developing the western dock of Paradip Port would mark the firms foray into the ports and shipping sector. The move is akin to that of other steel manufacturers who are betting big on captive ports and shipping to reduce logistics costs. The Naveen Jindal-led companys Rs 2,392-crore bid following a tender floated by State-owned Paradip Port Authority to build a 25-million tonne (mt) capacity dry bulk cargo terminal at the

UK-made steel spans wind turbine blade factory expansion
Thu, 31 Mar 2022 11:35:14 GMT
Tata Steel, the UKs largest steelmaker, has supplied more than 1,500 tonnes of high-strength steel to help create a vast new extension

Number of South Asian industry news reports: 12
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