South Asia Steel Sector News

NCLAT issues notice to Bhushan Steel RP, CoC on LSOTN-ANDT's ...
Tue, 22 May 2018 00:00:00 GMT
NCLAT also impleaded Tata Steel, whose bid for the debt ridden firm has been approved, as party over LSOTN-REMOVET plea seeking to recover Rs 900 crore.


3 Bills get Senate nod
Mon, 21 May 2018 15:01:00 GMT
Governments decision to take over Zisco debts followed attempts by two Indian firms to revive the steelmaking firms operations but have, for various reasons, failed. In 2006, another Indian company Global Steel Holdings Limited was given ...


NCLAT declines to stay Bhushan Steel sale to Tata Steel, issues ...
Mon, 21 May 2018 00:00:00 GMT
An NCLAT bench issued notices to Tata Steel, the resolution professional and Committee of Creditors (CoC) of Bhushan Steel on a petition filed by its promotor Neeraj Singal.


Bhushan Steel's buyout to reduce PSB NPAs by Rs 35,000 crore
Mon, 21 May 2018 00:00:00 GMT
Tata Steel completed the acquisition of controlling stake of 72.65 per cent in Bhushan Steel for around Rs 36,400 crore after emerging as the winning bidder in an insolvency auction.


Steel Dynamics to acquire CSN Heartland flat-rolled operations
Fri, 18 May 2018 06:57:00 GMT
Steel Dynamics Inc., headquartered in Fort Wayne, Indiana, has announced that it has entered into a definitive agreement to acquire Companhia Siderurgica Nacional LLC ... In addition, the company produces liquid pig iron and processes and sells ferrous ...


Tata Steel works council might take until August to assess steel ...
Fri, 18 May 2018 00:00:00 GMT
Thyssenkrupp earlier this week said it expected to be able to sign the deal with Tata Steel in the first half of the year.


Renaissance Steel asks NCLAT to declare Tata Steel's bid for ...
Fri, 18 May 2018 00:00:00 GMT
An NCLAT bench headed by Chairman Justice S J Mukhopadhyaya has issued notice to Tata Steel, which was the second highest bidder, and the resolution professional of Electrosteel over it.


Tata Steel's Dutch employees throw spanner in Thyssenkrupp JV ...
Fri, 18 May 2018 00:00:00 GMT
By Bart H. Meijer AMSTERDAM Reuters - Tata Steel's (NS:TISC) Dutch works council has called into question a time frame for completing a joint venture between the Indian group and Thyssenkrupp...


NCLAT to hear Bhushan Steel promoter's plea against Tata Steel ...
Thu, 17 May 2018 00:00:00 GMT
Singal has sought a stay on the National Company Law Tribunal (NCLT) order approving Tata Steel's bid for the debt-ridden Bhushan Steel under corporate insolvency resolution process.


ArcelorMittal transfers Rs 7,000 cr to SBI escrow A/c to clear ...
Tue, 15 May 2018 00:00:00 GMT
ArcelorMittal continues to believe its eligible and has transferred the money to show its commitment to India and Essar Steel, sources told Moneycontrol.


NCLT clears decks for Tatas acquisition of Bhushan Steel
Tue, 15 May 2018 00:00:00 GMT
The tribunal also dismissed a plea filed by the employees of Bhushan Steel opposing Tata Steel's bid and imposed a fine of Rs 1 lakh.


ArcelorMittal parks Rs 7,000 crore with SBI to clear Uttam Galva ...
Tue, 15 May 2018 00:00:00 GMT
A core committee of lenders of Essar Steel met the executives of the companies in Mumbai after ArcelorMittals payment was credited to the SBI account.


Parly demands validation of $500m Zisco debt
Sun, 13 May 2018 15:54:00 GMT
Zisco ceased operations at the height of economic challenges in 2008 resulting in more 5 000 people losing jobs. Hopes for the revival of operations at the steel giant were rekindled in 2011 when an Indian steel manufacturer, Essar Global signed a $750 ...


CCI approves JSW-led consortium bid to acquire Monnet Ispat
Sat, 12 May 2018 00:00:00 GMT
The Competition Commission of India (CCI)...considered the proposed combination and is of the opinion that there is no appreciable adverse effect on competition, JSW Steel said in a regulatory filing.


China's iron ore, steel rise on hopes of higher demand
Fri, 11 May 2018 01:22:00 GMT
Chinese steel demand continues to beat expectations ... It expected prices to push back towards $69 per tonne over the next few months. * A prolonged mine outage in Brazil and falling exports from India and Sierra Leone will also cut supplies, it said.


Jindal Steels iron ore pellet sales fall
Thu, 10 May 2018 01:26:00 GMT
Exports drove the increase, as China turned to India to meet a shortfall in pellet supplies after an accident shut down Brazilian mining company Vale's Samarco iron ore mine in November 2015. A fall in China's domestic pellet feed concentrate output ...


Tata Steel launches new website, Aashiyana
Thu, 10 May 2018 00:00:00 GMT
The portal also offers customers a very convenient and reliable platform to purchase Tata Steel products such as Tata Tiscon rebars, Pravesh doors and windows.


NCLT asks SBI to file mentioning petition in VISA Steel case
Wed, 09 May 2018 22:12:00 GMT
Financial Express reported that the Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday asked State Bank of India (SBI) to file a mentioning petition in its case against Visa Steel in which ... bench of Justice Jinan Kr and Madan ...


New report: Bearing steel market trends and forecast 2018 - 2023
Wed, 09 May 2018 10:49:00 GMT
Bearing steel is one kind of special steel with features of high ... India and Southeast Asia), South America (Brazil, Argentina, Columbia,.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Enquire for the Research copy ...


Tatas to divest five steel business units in Europe
Wed, 09 May 2018 00:00:00 GMT
The proposed sale of the five assets will leave Tata Steel to channelise its resources on its strip products business which is in the midst of forming a joint venture with Thyssenkrupp.


Number of news reports: 20