Steel

Backed by strong demand from China, flat steel producers who raised prices at the beginning of August by up to Rs. 3,000, one of the steepest in recent times, are mulling an increase next month. Though it is not quite clear what the next round of increase would be, it is likely to be over […]

JSW Steel today said its board has approved the plan to set up a Rs 2,100 crore slurry pipeline in Karnataka to transport iron ore and coal for its 12 MT integrated steel plant in the state. “As the availability of iron ore at a fair price within Karnataka is of paramount importance for long […]

Overtaking imports, India’s steel exports jumped by 102.1 per cent in 2016-17 to 8.24 million tonnes (mt), as compared to 4.07 mt shipped out in the previous financial year (2015-16), according to a Steel Ministry’s report. “Export of total finished steel was up by 102.1 per cent in April-March 2016-17 at 8.24 mt over same […]

The government is likely to take a final call on strategic disinvestment of three SAIL units by September, and due diligence is already on for the same. While the government in-principle had approved strategic disinvestment of SAIL’s Bhadravati, Salem and Durgapur (alloy steel plants), modalities are yet to be worked out. “We hope that within […]

Facing year-long delay, the Rs 18,000 crore integrated steel plant of state-owned iron ore miner NMDC , coming up at Nagarnar in Chhattisgarh, is likely to be completed by December. “As per the revised date, it will be completed by December 2017,” an official said. “It has been slightly delayed by a year or so.” […]

India’s steel exports registered a three-fold increase to 0.889 million tonne (MT) in January this year, compared to the year-ago period. The massive jump in exports comes amid government providing extensive support to the domestic steel industry by way of various trade remedial measures, including anti-dumping. The country shipped out 5.865 MT in the first […]

ArcelorMittal Brasil SA and Votorantim SA said on Thursday they will merge their long steel operations in Brazil, creating a company with a combined production capacity of 5.4 million tonnes of rolled steel per year. Under the deal, Votorantim SA steel unit called Votorantim Siderurgia will become a subsidiary of ArcelorMittal Brasil SA, the local […]

India has a strong case for imposing long-term anti-dumping duties on up to 124 steel products in the next two months, steel secretary Aruna Sharma said, as part of efforts to curb cheaper imports and protect local firms. Indian steelmakers such as JSW Steel Ltd, Tata Steel Ltd, and Steel Authority of India Ltd have […]

Tata Steel on Thursday signed a definitive agreement to sell its UK subsidiary’s speciality steel business to the Liberty House Group for 100 million pounds (Rs 839 crore), the company said in a regulatory filing on the BSE on Thursday. Tata Steel said the deal covers several South Yorkshire-based assets including the electric arc steelworks […]

Jindal Steel and Power Ltd (JSPL) today said it has secured long-term coal linkage of 0.5 million tonnes per annum for its sponge iron units. “The company has secured long-term coal linkage of a total quantity of 0.5 million tonnes per annum for the next 5 years in the recently-concluded coal linkage auction under sponge […]