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Tata Steel shares: Should you buy the metal stock after surprise ...
Wed, 08 Feb 2023 00:00:00 GMT
Tata Steel Ltd posted a net loss of 2,224 crore at the consolidated level in the December 2022 quarter, hurt by a sharp fall in global steel prices and lower demand amid fears of a likely economic slowdown. The steel production companys revenue from operations declined 6% to 57,083 crore for the period under review as as compared to 60,783 crore in the year-ago period. Recession concerns weighed on steel prices, which coupled with elevated energy costs affected our performance while

Indias Tata Steel reports Q3 loss as soft demand weighs
Wed, 08 Feb 2023 00:00:00 GMT
Indias Tata Steel on Monday reported a quarterly loss from a profit a year ago, hurt by a sharp fall in global steel prices and lower demand amid fears of a likely economic slowdown. The steelmakers consolidated loss was at 25.02 billion Indian rupees ($302.71 million) for the three months to Dec. 31, against a profit of 95.98 billion rupees a year earlier. Total revenue from operations fell 6.1% to 570.84 billion rupees. Recession concerns weighed on steel prices, which coupled with

Iron ore prices could rally as one leading producer remains reluctant ...
Tue, 07 Feb 2023 00:00:00 GMT
Expect exports of iron ore out of India to remain low as the worlds fourth-largest producer reserves more of the commodity for its own use, said commodity intelligence service Kpler. Indian iron ore exports have really come off in the last few months. And that is quite indicative that domestic consumption there is very strong, said Reid IAnson, Kplers senior commodity analyst, who added that this will continue throughout the year. Indias exports of iron ore plunged by 90% year on

China opening up economy to aid India steel firms
Mon, 30 Jan 2023 00:00:00 GMT
The reopening of Chinas economy, which accounts for almost a fifth of the worlds GDP, would also open up a plethora of opportunities for the Indian steel sector. With the recovery expected to be supported by consumption, Indian steel manufacturers would be able to replace China in providing the product to other nations.9/ While China would also become a market, Indian manufacturers would also scale up production to meet increasing demand. Further, a fall in energy prices including coal

Withdrawal of export duties, China opening up beneficial for ...
Tue, 24 Jan 2023 00:00:00 GMT
The withdrawal of export duties and China opening its economy would bring in further gains to the Indian steel sector, and the fourth quarter is expected to be a better period. Further, the correction in raw material and steel prices would open up export avenues for the sector, according to a top official at JSW Steel. However, the sentiment for FY24 is cautious as overall steel prices will remain range bound and the margins will get normalised, JSW Steel joint MD and group CFO Seshagiri

Liberty Liege attracts buyers' interest, Dudelange remains idled
Tue, 24 Jan 2023 00:00:00 GMT
Liberty Steels coil rolling plants in Belgium have started attracting some interest from potential buyers, according to local Belgian press reports. Indias JSW Group has allegedly registered its interest for the purchase of the assets, while other steel suppliers are also evaluating the case. Liberty Steel declined to comment when contacted by Kallanish on

Laser-based system focuses tube weld inspection on data
Sat, 21 Jan 2023 09:16:00 GMT
It didn't take long for Xiris Automations WI-2200 laser-based welding inspection system to make believers of even the veterans at Tata Steels Tubes Netherlands

Steel industry saw rise in output, consumption in Apr-Dec: Report
Thu, 19 Jan 2023 00:00:00 GMT
Indias steel production and consumption grew 5.7% and 11.5%, respectively, during the first nine months of FY23 (April to December), CareEdge Research said in a report on Wednesday. The rating agency estimates Indias steel production to be in a range of 117-119 million tonne, up 3-5% year-on-year in FY23. CareEdge Research said that the consumption growth rate is expected to be healthy at 10-12% in FY23, backed by a pick-up in investment in the infrastructure sector and policy support by

Signs of better downstream demand key to iron ore price recovery ...
Tue, 17 Jan 2023 00:00:00 GMT
Steelmakers, having experienced at least eight months of weak margins may finally be seeing a light at the end of the tunnel come first-quarter 2023, driven by hopes of a near-term improvement in downstream demand. Underpinning these expectations are Indias removal of export duties for pellet mid-November, Chinas abandonment of its zero-COVID policy and its expressed aim of reviving the property market. Platts-assessed 62% Fe iron ore index recovered in the fourth quarter of 2022 by 22.3%

Mehul Kothari is bullish on Hind Petroleum, SAIL; check why
Thu, 12 Jan 2023 00:00:00 GMT
According to the technical analyst from Anand Rathi, Hind Petro can surge to Rs 278; while SAIL can advance to Rs 97.

Jefferies turns 'positive' on Indian metals on easing Covid curbs ...
Tue, 03 Jan 2023 00:00:00 GMT
The change in stance comes after almost a year of cautionary view. The Nifty Metal index advanced over 2 per cent while shares of Tata Steel surged

India plans to double steel production capacity by 2030
Fri, 23 Dec 2022 00:00:00 GMT
The Union Minister of Steel and Civil Aviation, Jyotiraditya Scindia has urged the Indian steel industry to move towards green and low carbon emitting production processes. The minister emphasized on the growing role of steel as the foundational force for the development of a nation. Scindia added that as the fifth largest economy and second largest producer of steel, India needs to also become a responsible and sustainable producer of steel. Talking about the enhanced consumption and

Number of South Asian industry news reports: 12
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