Delays in the sale of assets under India’s bankruptcy law are becoming a key challenge for bidders who “cannot wait indefinitely” because of funding constraints, according to JSW Steel Ltd. The Sajjan Jindal-run mill, which has bid for many companies under the insolvency law since sales of distressed firms began in 2017, is among bidders […]
Leading non-integrated steel players like Jindal Steel & Power Ltd (JSPL) and JSW Steel Ltd are set to profit from the muted hike in domestic iron ore prices. The subdued iron ore prices would also benefit Tata Steel as Bhushan Steel (a company Tata Steel took over in insolvency resolution) sources ore from Odisha, a […]
The World Steel Association (WSA) has revised the October 2018 forecasts of country-wise steel consumption and these figures are being formally announced in April 2019 meeting. The global demand for finished steel at 1,711.6 million tonnes (MT) in 2018 is slated to reach 1,734 MT (+1.3%) and 1,750 MT in 2020. The volume growth in […]
The growth of eight core sectors slowed down to 2.1 per cent in February due to fall in output of crude oil and refinery products, official data showed. Eight infrastructure sectors – coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity – had expanded by 5.4 per cent in February 2018. Sluggish […]
The slump in commodities prices will have the revenue realization of India Inc in March quarter revenue at 8-9 per cent, crimping their operating margins to 7 per cent, says the rating agency CRISIL report. While growth in operating profit is expected to nearly halve to 7 per cent from 13 per cent average in […]
After last year’s bumper profits for China’s steelmakers, there is a risk that the steel supply might outpace demand in 2019 as producers become leaner and more efficient than ever, industry leaders have warned, Caixin Global reported. It said that despite government promises to cut excess capacity, China still produces over half the world’s steel, with […]
Indonesia and China slapped anti-dumping import duties on each other’s steel products in an escalation of a global tariff row involving one of the world’s most widely used metals. Indonesia extended anti-dumping import duties of up to 20 per cent for a number of flat-rolled iron and steel products from seven countries, including China, Russia […]
India’s largest stainless steel manufacturing group, Jindal Stainless has become one of the early organisations to migrate to BW/4HANA, one of the world’s fastest data warehouse and reporting system. This transition has been achieved along with ‘remote conversion route for 6 years legacy data’, the company said in a statement. “It is a historical breakthrough […]
After a slow start to the year, steel production in India picked up in February, rising 5.7% from a year ago. Data from the joint plant committee compiled by SBICAP Securities Ltd also shows a healthy growth in steel demand, with consumption increasing by 8.6% last month. However, amid the mounting evidence of demand slowdown […]
Mergers and acquisitions will provide the impetus for sustainable transformation and upgrade of the iron and steel industry and leverage on gains from the overcapacity reduction campaigns in the sector that are coming to an end, industry experts following China’s steel sector said. According to the National Development and Reform Commission, the nation’s top economic […]