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Metal, steel stocks in focus: Key factors behind surge
Sat, 31 Jul 2021 00:00:00 GMT
Steel and metal stocks were buzzing in trade amid dovish commentary from the Federal Reserve and positive statements from ArcelorMittal. The company raised its 2021 steel consumption forecast to 7.5-8.5 percent from 4.5-5.5 percent, sending out positive signals for the global ferrous space. Traders have been waiting an official announcement on a possible export duty on steel exports that China talked about earlier this week. According to JPMorgan, this will be positive for the Indian steel

Buy SAIL, target price Rs 149: ICICI Direct
Sat, 31 Jul 2021 00:00:00 GMT
STEEL AUTHORITY OF INDIA LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 06/08/2021 ,inter alia, to consider and approve and take on record the Unaudited Standalone and Consolidated Financial Results of the Company for the Quarter ended 30th June,

Australia's Fortescue teams up with India's JSW Energy for hydrogen ...
Thu, 29 Jul 2021 08:58:04 GMT
Fortescue Future Industries (FFI) has signed the agreement with JSW Future Energy for collaborating on hydrogen mobility, green ammonia and their industrial applications in India. FFI has been criss-crossing the globe signing framework agreements for renewable energy projects but has come under fire from analysts for providing little detail on how its projects would be

Indian government lists six state-owned steelmakers for sale
Fri, 23 Jul 2021 00:00:00 GMT
The Indian government has listed six state-run steel plants, including Rashtriya Ispat Nigam Limited (RINL), for sale, according to the finance ministry. The ministry confirms that no state steel plant has been sold during the last five years. Thedisinvestment of central public sector enterprises (CPSEs), including steel plants, was guided by the new public

Buy Steel Authority of India (SAIL), target price Rs 181: Anand ...
Thu, 15 Jul 2021 00:00:00 GMT
Steel Authority of India Ltd has submitted to BSE the Shareholding Pattern for the Period Ended June 30, 2021. For more details, kindly Click

NMDC board approves de-merger of NMDC Steel
Tue, 13 Jul 2021 00:00:00 GMT
In a BSE filing, NMDC said NMDC Steel is its wholly-owned subsidiary, which currently does not have any business

JSW Steel's crude steel production up 62% yoy to 4.93 MT
Sat, 10 Jul 2021 00:00:00 GMT
JSW Groups combined crude steel production was at 5.07 million tonnes, registering a growth of 65% y-o-y, including the production jointly controlled entities viz Bhushan Power and Steel Ltd and JSW Ispat Special Products Ltd, the company said in a

Steel makers clock year-on-year increase in production
Wed, 07 Jul 2021 00:00:00 GMT
Among other steel plants, JSW Steel has reported a 10% jump in production in May. However, the company has increased long steel production to 55%, denoting a recovery in infrastructure and

Tata Steel April-June crude steel output up 55% YoY to 4.62 million ...
Tue, 06 Jul 2021 00:00:00 GMT
Tata Steel crude steel production grew 55 per cent in Q1FY22 to 4.62 million tonnes as against the same period last year which was impacted due to the Covid-19 pandemic and the stringent nationwide lockdown. Tata Steel India deliveries increased by 42 per cent in the period under review to 4.15 million tonnes on a year-on-year basis. During the quarter, the companys crude steel production declined 2.6 per cent sequentially due to the supply of over 47,800 tonnes of liquid medical oxygen to

Steel price cut likely in July: Heres why
Mon, 05 Jul 2021 00:00:00 GMT
Steel stocks were under pressure as there is an expectation of a price cut in July. Two factors may be responsible for the price cut. First, Russia will impose an export tax from August and so there is a possibility of higher exports from Russian producers. Second, Chinese prices have seen a sharp correction and in line with that Indian prices are also likely to see a correction. There has also been a correction in export prices for India and that could reflect a lower price for steel.

NLMK starts building 64,000 mt/year Indian steel processing plant
Mon, 05 Jul 2021 00:00:00 GMT
Russian mining and steel company NLMK started construction work on its first steel processing plant in India, the company said July 1. The grain-oriented, or transformer, steel plant in the western state of Maharashtra is expected to come online in the first half of 2022 and will have a capacity to produce 64,000 mt/year

Decarbonisation, ESG a challenge and opportunity for steelmakers: ...
Wed, 30 Jun 2021 00:00:00 GMT
Over the past few years, there has been consistent improvement in metrics of sustainability within the steel industry but the environmental impact needs to be reduced further with a well chalked out plan, an EY India report titled, Towards Greener Steel Steering the Transition said. Ernst & Young (EY) is one of the big four accounting firms that provides consulting and advisory services. For steelmakers, an accelerating decarbonisation agenda and the growing importance of

Number of South Asian industry news reports: 12
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