Page 10 - Steel Industry

Govt asks RINL, POSCO to form joint working group for AP steel project

The JWG would meet regularly to expedite the implementation of the MoU, the ministry said.

Liberty Steel seeks more acquisitions in India, to double Odisha capacity

Sanjeev Gupta-led group takes into account the high growth expected in the economy after the country emerges from lockdown

Pradhan asks steel industry to hike spending to boost consumption, jobs

Union Steel Minister Dharmendra Pradhan asked the industry stakeholders to prepare a plan to enhance investment that will boost steel consumption and create new job opportunities in the country

Tata Steel: Recovery in India business is keeping sentiment elevated

Reviving domestic prices along with improving product mix to aid growth

Tata Steel sinks into red, logs loss of Rs 3,337 crore in June quarter

Revenue from India operations stood at Rs9,145 crore, down 42 per cent from same period last year.

Covid-19 pandemic speeds up JSW Steel's US business revamp plan

JSW Steel outlined plans two years ago to invest $1 billion in the US to expand its global footprint

Improving realisations may help steelmakers forget Covid-19 memories

Improving realisations and cheaper raw material should help profitability, though domestic demand is yet to reach pre-Covid levels

Tata Steel BSL slips into red, posts Rs 650 cr net loss in June quarter

The company had posted a net profit of Rs 111 crore during the same quarter a year ago, Tata Steel BSL said in a BSE filing

ArcelorMittal reports $559 mn loss in June quarter; sales down to $11 bn

Total steel shipments in the second quarter of 2020 declined 23.7 per cent to 14.8 million tonne (MT), significantly impacted by the adverse effects of Covid-19 pandemic across all regions

Tata Steel Dutch employees safe from job losses, says Labour Union

There are about 9,000 workers at Ijmuiden. FNV said an agreement has also been reached on the company structure.

FinMin told to levy tax on imported goods to boost local products: Pradhan

The proposed Border Adjustment Tax would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally-made products.

China top buyer of Indian steel under lockdown, accounts for 48% exports

Icra says in first two months of the current fiscal, Indian finished steel exports grew 76% YoY, and that China alone accounted for close to 60 per cent of this increase

Tata Steel slips into red, logs Q4 consolidated pre-tax loss at Rs 1,499 cr

The company had a profit of Rs 4,252.50 crore in the corresponding period last year

Steel imports worth Rs 20,000 cr avoided due to DMISP policy: Pradhan

Domestically manufactured iron and steel products (DMISP) policy was launched in 2017 and has helped India avoid steel imports worth over Rs 20,000 crore

US-based firm betters JSW offer in race for Asian Colour Coated Ispat

New US-based bidder offers better deal than JSW

Top headlines: Fitch predicts growth at 9.5% in FY22, AGR hearing, and more

From S&P retaining India's sovereign rating and outlook, SC relief to Amrapali homebuyers to HUL's crorepati club shrinking, here are top news of the day

Covid-19 impact: Tata Steel Dutch workers strike work on job cuts

According to FNV Union, this meant that raw materials were no longer available for the blast furnaces, pellet factory and sinter factory.

Covid-19 crisis: Test for steel industry as domestic demand shrinks

Shrinking domestic demand offers the industry the chance to become globally competitive

Target 300 million tonnes: Steel companies gear up for value creation

Industry majors saw in sick assets an opportunity to expand operations

Earnings drought

Corporate results would get a lot worse in the coming quarters