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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., quoting

Steel companies engage with vaccine makers for bulk supply of ...
Mon, 18 Jan 2021 00:00:00 GMT
Domestic steel makers like -- Tata Steel, ArcelorMittal Nippon Steel India (AMNS India) and Rashtriya Ispat Nigam Ltd (RINL) said they will continue to support the government in the nationwide drive and will wait till vaccines are available for

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

Top steelmakers in que to secure vaccine shots for employees ...
Thu, 14 Jan 2021 00:00:00 GMT
JSW Group has sought vaccines for around 25,000 workers and their families. SAIL has shared with the government details of about 6,700 health workers at its hospitals and clinics, and their families, for the first round of

Top four steel players' production rises 6 per cent to about ...
Wed, 13 Jan 2021 00:00:00 GMT
The President of India, acting through and represented by the Ministry of Steel, Government of India (the Promoter of the Company) has submitted to BSE a Notice of the proposed offer for sale of the equity shares of Steel Authority of India Ltd (the

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

SAIL hits 2-year high, zooms 100% in 2 months on strong earnings ...
Wed, 30 Dec 2020 00:00:00 GMT
Analysts at Edelweiss Broking expect SAIL's performance to improve further driven by realisation uptick, volume growth and iron ore sales providing

Number of South Asian industry news reports: 12
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