Steel producers in India raise prices by Rs 1,000-1,500 a tonne as demand perks up

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Responding to cost pressure and greater demand, domestic steel producers have raised prices by Rs 1,000-1,500 a tonne across products for January, reports Business Standard. “Iron ore miners have increased prices by Rs 600 per tonne and so this increases the cost of production by Rs 1,000 a tonne. Hence, we have hiked prices from […]

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India’s domestic steel firms set to hike prices by Rs 1,000 a tonne from March 1, 2019; third rise since February 2019

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Prompted by strong demand growth in the domestic market, steel producers are set to hike product prices by Rs 1,000 a tonne from March 1. This will be the third rise in prices since February 1, Business Standard reports. A growing demand for steel across sectors is prompting large producers of steel to go ahead with  yet another price […]

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Production cut by Vale SA to benefit Indian iron ore and steel producers in short term: Ind-Ra Ratings

The recent revocation of the mining licence of Vale SA for the Brucutu mine in Brazil will be favourable for domestic iron ore miners and steel producers in the short term, believes India Ratings and Research (Ind-Ra). With a limited supply of iron ore, the hardening prices of iron ore and steel in the international […]

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India’s crude steel output declines 4% to 8.99 million tonnes in January 2019

India’s crude steel production fell by 3.84 per cent to 8.995 million tonnes in January 2019, according to the Joint Plant Committee (JPC). The fall is reported after World Steel Association (worldsteel) recently announced that India has replaced Japan as the world’s second-largest steel producing country. On January 25, 2019,  worldsteel in its report noted […]

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India may merge loss-making state steel firms – report

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The Indian government is considering a Steel Ministry’s proposal to first merge the loss-making Neelachal Ispat Nigam (NINL) with Rashtriya Ispat Nigam (RINL) and later merge the new entity with Steel Authority of India (SAIL) to create a single state-owned steel manufacturer, The Financial Express reported. “There is scope for a merger of these companies. A detailed analysis […]

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Will Odisha house the Rs 150-bn SAIL-ArcelorMittal auto grade steel JV?

The Steel Authority of India Limited (SAIL) has written to the Odisha government, evincing interest to locate the auto grade steel facility in a joint venture with UK-based ArcelorMittal in the state, the Business Standard newspaper reported. Odisha has been home to steel manufacturing units owned by Tatas, Jindals and others. The state with proximity to sea […]

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