Steel Market

Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

AM Mining India completes acquisition of debt-ridden Uttam Galva Steels

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

Jamshed J Irani, known as the Steel Man of India, passes away at 85

Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 85. Irani was associated with Tata Steel for over four decades. He retired from the board of Tata Steel in June 2011, leaving behind a legacy of 43 years, which won him and the Company international acclaim in various fields. Born on June 2, 1936 in Nagpur to Jiji Irani and Khorshed Irani, Dr Irani completed his BSc from Science College, Nagpur in 1956 and MSc in Geology from the Nagpur University in 1958. He then went to the University of Sheffield in UK as a J N Tata scholar, where he secured a Masters in Metallurgy in 1960, and a PhD in Metallurgy in 1963. He started his professional career with the British Iron and Steel Research Association in Sheffield in 1963, but always yearned to contribute to the Nation's progress. He returned to India to join The Tata Iron and Steel Company (now Tata Steel), as it was then known, in 1968, and joined the firm as Assistant to th

Global steel demand downgraded, to drop 2.3% in 2022: WorldSteel

A global recovery in steel demand next year is still expected, mainly due to a rise in infrastructure spending, but the growth will be 1% instead of 2.2% as forecast earlier this year, the WSA said

Britain in talks with British Steel and Tata to secure industry's future

Britain said on Monday it was in talks with steel makers, including British Steel, owned by China's Jingye Group, and India's Tata to help secure the industry's long-term future

Coking coal price rise likely to delay margin recovery of steelmakers

The domestic market has also seen a sharp correction in steel prices from peak levels

JSW Steel consolidated output rises 16% to 5.88 million tonnes in Apr-Jun

On a quarter-on-quarter (q-o-q) basis, the production was 2 per cent down from 5.98 MT in January-March 2022

US, Japan reach deal to cut tariffs on Japanese steel, fight excess output

The new deal, which excludes aluminum, will take effect on April 1 and requires Japan to take "concrete steps" to fight global excess steel manufacturing capacity

India flags market access issues in Korea during trade ministers' meet

India flagged market access issues being faced by domestic players from several sectors such as steel, engineering, and agri products in Korea

Competition between Indian, Chinese steel players to intensify: Icra

The competition between Indian and Chinese steel players could intensify at global level, amid subdued steel demand in China, according to Icra

Robust demand amid lower iron prices to boost steel margins in H2FY22: Icra

While weak demand growth in domestic market saw larger players resorting to exports to cushion the Covid impact of the past 14-16 months, smaller players languished, the rating agency said

Rs 6,322-crore steel PLI scheme likely to get Cabinet approval soon

A PLI scheme in specialty steel is expected to boost manufacturing capabilities for value-added steel, increasing exports

JSW Steel approaches auto companies for a hike in contract prices

Steel maker's move comes in the wake of widening gap between spot and contract prices, with major surge post October

Engineering exporters seek govt intervention to stem steel prices

Engineering exporters' body EEPC India on Monday sought urgent government intervention to stem the runaway rise in steel prices

Steel producers, buyers, material suppliers fight over price hike

Steel manufacturers had focussed on exports during the lockdowns to stay afloat

JSW Steel sees mettle in bankrupt asset amid upturn in steel market

An upturn in the steel market has prompted the country's third-largest steel producer to up the ante on acquiring Bhushan Power

Steelmakers' prospects receive a boost from improving China data

Encouraging economic data from China, rising demand and higher realisations improve earnings outlook

Tata Steel output back at 100% led by rural demand, good monsoon: Narendran

The company is now less dependent on exports compared to the first quarter, he added

Indian steel market recovering after Covid-19 lockdowns, says Aditya Mittal

Aditya, son of steel baron LN Mittal, said that operations at ArcelorMittal Nippon Steel India's (formerly Essar Steel) Hazira plant in Gujarat are running at full capacity

Steelmakers ready to fill void left by Chinese firms: JSL's Abhyuday Jindal

The overall growth of stainless steel industry, like many other industries, and in fact, all of Indian economy, is bound to witness contraction in FY21, says Abhyuday Jindal