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South Asia Steel News

SAILs stockpile of iron ore fines give company opportunity for ...
Fri, 17 Jul 2020 00:00:00 GMT
A stockpile of 43 million tonnes of iron ore fines has come in handy for Steel Authority of India Ltd (SAIL) as the state-owned company tackles an economy battered by the coronavirus pandemic. SAIL mines have a stock of 42.98 million tonnes of sub-grade iron ore fines considered as inventory with nil value in 2018-19. When the mines ministry in September 2019 allowed SAIL to sell up to 25 per cent of its total mineral production in the previous year, the equation changed. The ministry gave

Share market update: Metal shares decline; Welspun Corp slips ...
Thu, 11 Jun 2020 00:00:00 GMT
Atul Srivastava, Director (Personnel), Steel Authority of India Limited (SAIL) passed away on June 10, 2020 at Apollo Hospital, New Delhi following a cardiac

Covid impact: Large steel mills return to near normal production ...
Tue, 09 Jun 2020 00:00:00 GMT
After an unprecedented fall in domestic steel production in April due to one of the most stringent lockdowns in the world, large Indian steel manufacturers revived production to normal through May. Preliminary production numbers from two large firms, JSW Steel and Jindal Steel and Power (JSPL), and industry estimates for others suggest that average capacity utilisation has improved to nearly 75% level in May, backed by renewed domestic demand. Companies continue to export the bulk of their

SEAISI Press Release
Tue, 19 May 2020 00:00:00 GMT
Bangladesh: Steel makers seek Tk 3,000cr from stimulus package

Unions hit out at Tata Steel plans to make Netherlands bear bulk ...
Mon, 18 May 2020 14:22:07 GMT
AMSTERDAM Reuters - Labour representatives at Tata Steel's (NS:TATS) Dutch operations said on Monday that the company plans to cut 1,000 jobs in the Netherlands and that the subsidiary's

NCLAT asks investigative agencies to clarify over JSW Steel's ...
Thu, 16 Jan 2020 00:00:00 GMT
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code (IBC) last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL

ArcelorMittal completes acquisition of Essar Steel
Mon, 16 Dec 2019 00:00:00 GMT
According to a release, the company has also established a joint venture with Nippon Steel called ArcelorMittal Nippon Steel India (AM/NS India), which will own and operate Essar

NCLAT dismisses ArcelorMittal plea over EPC Construction
Mon, 16 Dec 2019 00:00:00 GMT
ArcelorMittal India, subsidiary of the global steel major, had challenged it before the NCLAT contending that the action of the CoC is vitiated by procedural irregularities rendering illegal approval. The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the

Arcelor entry will energise India's steel sector: Pradhan
Fri, 22 Nov 2019 00:00:00 GMT
ArcelorMittal, the world's biggest producer of the alloy, is entering India at a time when the sector is going through a lean phase, facing a demand slump. Other steelmakers shared Pradhans sentiments about ArcelorMittals entry into India. ArcelorMittals presence will bring in new technology, and have a longer-term impact on prices and the steel product

ArcelorMittal aims to complete Essar Steel acquisition by 2019-end
Tue, 19 Nov 2019 00:00:00 GMT
ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (ESIL') has been unconditionally approved by the Supreme Court of India and the approval of AMIPL's resolution plan is the final procedural step in ESIL's corporate insolvency process, the company said in a

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