Page 2 - Steel Firms

Cement and steel firms hike prices as construction demand picks up

Some industry players, however, warn that price recovery is supply-led and not demand

As demand tapers, steel firms rush to export market to clear stock

Most of the producers said they were exporting more to bring down the inventory

Steel firms set to shine in New Year

Analysts expect China's steel output cuts to result in stronger earnings for Indian manufacturers in the next 2-3 quarters

Bid deadline for stressed steel firms extended

Move to ensure more bidders for Bhushan Power, Electrosteel

Steel firms plan to help lenders in insolvency

Bhushan Steel, Electrosteel, Monnet, Bhushan Power & Steel have no plans of stalling process

Margin contraction likely at steel firms in Jan-March quarter

Higher input cost amid weak realisation is expected to keep the performance of steel companies muted in the March quarter, brokerages said. With domestic consumption of steel not picking up, they've not been able to pass on the input cost rise to customers. However, there has been a rise in output and export over 2016-17."Except Tata Steel, we expect companies to report a weak set of numbers in Q4 (the March quarter), as they were hit with a fall in steel prices in February and March, as well as higher coal cost," said Elara Capital. JSW Steel is likely to be affected the most, hit with both higher coal cost and iron ore cost. Tata Steel India, however, imports only 67 per cent of its coking coal requirement."This would be a consecutive quarter when companies are facing margin contraction," says IIFL. "Steel players were unable to pass on the increase in input costs due to resistance from consumers, de-stocking and subdued demand. As a result, margins would be squeezed further on a ...

Steel firms hike prices by Rs 3,000 per tonne

Cost of steel production for domestic blast furnace players will increase by Rs 5,750 in the 4th quarter over the 3rd quarter of FY17