West Bengal asks India’s steel minister to desist from selling SAIL’s Bengal units

West Bengal finance, planning and programme monitoring minister Amit Mitra has alleged that Steel Authority of India Ltd’s (SAIL) Durgapur plant and the Burnpur IISCO steel unit are being stripped of assets like iron ore mines, as part of a plan by the Union steel ministry to eventually sell them off. “I am deeply apprehensive that these two massive plants in Bengal […]

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Indian steel companies hike steel prices by up to Rs 4,900 a tonne, again

Leading domestic steelmakers have hiked the prices of Hot Rolled Coil (HRC) and Cold Rolled Coil (CRC) by up to Rs 4,000 and Rs 4,900 per tonne, respectively this week. After the price revision, a tonne of HRC will cost Rs 70,000-Rs 71,000 while the buyers will get CRC at Rs 83,000-Rs 84,000 per tonne. HRC and CRC are flat steel used in industries such as auto, appliances and construction. […]

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Diversion of surplus oxygen stock of steel plants to help ease demand from rising Covid caseload

An inter-ministerial Empowered Group 2 (EG2) has initiated several measures to ensure the supply of medical oxygen to various affected states during the Covid-19 pandemic, a Press Information Bureau (PIB) bulletin said on Thursday. Medical oxygen is a critical component in the treatment of Covid affected patients.  The surplus stock available with steel plants is being […]

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Indian steel industry set to report record sales growth in fourth quarter of fiscal 2021: Analysts

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Strong domestic demand, followed by healthy exports have aided India’s steel industry’s production and sales growth in the fourth quarter of 2020-21 on a sequential basis, say analysts. Revenues of steel companies are expected to improve 20 per cent quarter-on-quarter and 45-50 per cent from a year ago on higher realization and rising demand, led […]

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