South Asia Steel News Reports. logo

South Asia Steel News

India mulls steel price hikes on costlier coal
Mon, 11 Oct 2021 00:00:00 GMT
Rising coal prices coupled with a shortage of coking coal and thermal coal are forcing Indian steel mills to consider a steel price hike for the next quarter. Indian steel giants like JSW Steel and Jindal Steel and Power (JSPL) anticipate a cost-driven price hike. Kallanishnotes from customs data that Indian coking coal imports

JSPL output grows 5%; sales jump 10% in July-September
Thu, 23 Sep 2021 00:00:00 GMT
During the period under review, the company produced 1.93 million tonne (MT) steel, which was 5 percent higher over July-September quarter of financial year 2020-21, Jindal Steel and Power Limited (JSPL) said in a

Hungary: gold mine to open in Borzsony
Mon, 20 Sep 2021 09:58:41 GMT
A company called Hun-Banyaszat Kutatasi, Fejlesztesi es Innovacios Kft. made some calculations and plans regarding opening a mine and sent them to the Hungarian Mining and Geological Service at the end of last October. This would be a new business venture, as the Hungarian company was registered in 2018, and originally had iron ore

FLSmidth's acquisition of Thyssenkrupp mining unit to exclude ...
Mon, 06 Sep 2021 07:22:05 GMT
COPENHAGEN Reuters - The acquisition of Thyssenkrupp (DE:TKAG)'s mining activities by Denmark's FLSmidth, a deal announced in July, will not include Thyssenkrupp's operation in India, FLSmidth

High coking coal prices to impact gross margins of steel mills ...
Mon, 06 Sep 2021 00:00:00 GMT
High coking coal prices are likely to impact gross margins of steel mills, says India Ratings and Research (Ind-Ra). Accordingly, coking coal prices were up 5 per cent MoM and 103 per cent YoY to $222 per MT in mid-August 2021. Australian coking coal prices are receiving support from a strong demand from Asian countries, ex-China. The limited availability of prompt coking coal cargoes for near-term deliveries due to logistical issues, including freight and container unavailability and high

India proposes retaliatory duties on EU-origin steel imports
Thu, 02 Sep 2021 00:00:00 GMT
India has proposed to impose an additional 292 million ($346m) worth of import duties on products coming from the EU. The proposed duties will be in retaliation against quota restrictions put in place by the EU on steel imports from India. India has submitted the request to the World Trade Organisation (WTO),Kallanishnotes. The nation

Nippon Steel indicates profit could top latest forecast
Wed, 01 Sep 2021 00:00:00 GMT
Nippon Steel Corps 5401.T annual profit may beat the companys recent sharply upgraded forecast, a senior executive indicated to Reuters - , as steel prices outside Japan continue to rally on strong demand while iron ore prices have plunged. Earlier this month, the worlds fifth-biggest steelmaker raised its annual profit guidance by 54% as solid global demand boosts steel prices and earnings of its units in India, the United States and Brazil. Our overseas businesses have been outperforming

Steel industry to rebound strongly but MSMEs may trail: CRISIL ...
Tue, 31 Aug 2021 00:00:00 GMT
CRISIL Research projects the overall Indian steel industrys revenue to rise 50-60 per cent year on year in the current fiscal year (FY22), driven by 15-17 per cent growth in domestic demand and soaring realisations. But micro, small and medium enterprises (MSMEs) are likely to see lower growth, as they have a higher share of long steel in the product mix. Though we foresee long steel prices rising 26-28 per cent this fiscal, it will be lower than the 48-50 per cent expected for flat steel.

SAIL aims at reducing net debt to Rs 15,000-20,000cr in FY22
Thu, 26 Aug 2021 00:00:00 GMT
We are aiming at reducing the debt drastically from around Rs 30,000 crore now to anywhere between Rs 15,000-20,000 crore, depending on steel prices and demand situation, SAIL chairman Soma Mondal said on the sidelines of the inauguration of MSTC's new headquarters in New Town on the outskirts of the

JSW Steel sets target for reduction in CO2 emissions
Sat, 21 Aug 2021 00:00:00 GMT
JSW Steel has set a target of achieving CO2 emissions of 1.95 tCO2e per tonne of steel by Fiscal 2030, which is a 23% reduction from FY20 and 42% reduction from the base year of 2005. The target set for CO2 emissions includes direct emissions (Scope 1) and energy indirect emissions (Scope 2) from its operating integrated steel plants at Vijayanagar, Dolvi and Salem and follows the Sustainable Development Scenario (SDS) pathway for Indian Steel Industry as proposed by the International Energy

Tata Steel commissions steel recycling plant in Haryana
Wed, 18 Aug 2021 00:00:00 GMT
Steel Scrap is a valuable resource and an important future Raw Material for steel making. Recycling scrap ensures the closure of the Circular Economy loop, Yogesh Bedi, Chief Steel Recycling Business, Tata Steel

Tata Steel commissions 0.5 MTPA recycling plant in Haryana
Wed, 18 Aug 2021 00:00:00 GMT
India-based Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per

Number of South Asian industry news reports: 12
Subscribers get access to full set of news releases (up to 20 reports).
Click here to subscribe.

Copyright © 2001 - 2021 All rights reserved.
Steel sector news headlines from India, Pakistan, Bangladesh.