Page 3 - Steel

NMDC reduces prices, steel companies roll over prices in September

NMDC, the country's largest iron ore producer, has reduced prices by around Rs 1,000 a tonne, the company informed the stock exchanges on Monday.

High coking coal prices to impact gross margins of steel mills, says Ind-Ra

India's coking coal imports at 5.76 MT in July 2021 were 65 per cent MoM and 114 per cent YoY higher

ArcelorMittal Nippon Steel India commissions 6 million tonne pellet plant

Capacity at Paradeep complex in Odisha reaches 12 mn tonnes, making it India's largest single-location pelletisation complex; AM/NS India's total pelletisation capacity now at 20 mn tonnes

Steel sector outlook revised to positive on continued earnings uptick: Icra

Given the strong earnings growth and capex curtailments following the pandemic-related uncertainty, steelmakers started to aggressively deleverage since the second quarter of FY2021

SAIL aims to bring down borrowings to Rs 20,000 crore

During FY21, net debt had decreased by Rs 16,131 crore to Rs 35,350 crore

Tata Steel Q1 consolidated PAT at Rs 8,907 cr vs loss of Rs 4,416 cr YoY

Led by strong steel prices, top line or total revenue from operations in the period under review stood at Rs 53,372 crore, up 108 per cent from the same period last year

Steel production impacted in Apr-Jun qtr due to second Covid wave: Minister

The country's steel output took a hit during the April-June period of 2021 due to the emergence of the second wave of Covid-19 pandemic, Parliament was informed on Monday.

Core sector output rises 8.9% YoY in June, sequential growth 1.1%

In June 2020, the core sector output contracted 12.4 per cent due to the restrictions imposed across the country to control the spread of Covid-19

Steel producers likely to raise prices in August, albeit marginally

Slight uptick in demand, huge gap between domestic and global prices could drive the decision

ArcelorMittal boosts steel outlook as it sees best quarter in 13 years

Steel has surged over the past 12 months, joining a wider commodities boom as producers struggled to meet an unexpectedly strong rebound in demand from the construction and manufacturing industries.

BSE launches delivery-based futures contract in carbon steel billets

The futures contract was designed jointly with SUFI keeping in mind the industry participants needs and participation, the exchange said in a statement

Record steel prices inject life into industry; India set to boost capacity

Industrial demand propels rallies, with plants straining to boost supply after lying dormant during pandemic.

Vedanta looks to focus on long product steel with upcoming capacity

Firm will enhance facilities to high carbon electrical steel, other value added products. It is working to double capacity to 3 million tonnes for which it has invested Rs 3,000 crore

Tata Steel outlines Rs 10,000-12,000 cr annual India capex over next 5 yrs

As against a $1 billion annual debt reduction target, the company is likely to reduce gross debt by over $2 billion in FY22

Rising global steel prices may tone down a bit as supply eases:CARE Ratings

Led by China and India, world steel production grew 15% YoY during the first five months of CY21

Steel companies reduce prices by Rs 1,200-2,000 a tonne across products

Companies say, correction may be temporary

Tata Steel April-June crude steel output up 55% YoY to 4.62 million tonnes

Production falls sequentially as company diverts industrial oxygen for medical use

Steel companies negotiate 10-16% price increase for auto manufacturers

While some mills have finalised contracts, others hope to close by month-end. Deals are for April-June quarter

Top headlines: Steel leads in capacity expansion, GCCs bet on Indian talent

Business Standard brings you the top headlines on Monday

Metal stocks could correct soon but remain a medium-term buying opportunity

All the base metal stocks could see deeper corrections, but a strong global economy may make this a medium-term buying opportunity