Finally, after deferring retaliatory tariffs on the US for months, India has decided to impose higher tariffs on 28 American products including almonds, apples and walnut effective June 16, the government said in a notification. The retaliatory tariffs, triggered by the US announcing higher duties on Indian steel and aluminium last year, were deferred multiple […]
Growth of eight core sectors slowed to 2.6 per cent in April compared to 4.7 in same month last year, government data showed. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stood at 127.5 in […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.7 million tonnes (Mt) in April 2019, a 6.4% increase compared to April 2018. China’s crude steel production for April 2019 was 85.0 Mt, an increase of 12.7% compared to April 2018. India produced 8.8 Mt of crude steel […]
A delay in the auction of iron ore mines, whose licences are expiring by March next year, could hit steel production significantly in the country, a report by India Ratings (Ind-Ra) has cautioned. Licences of 288 merchant mines, of which 59 mines are under operations, will expire by March next and if the auction of […]
A large-scale deal that would have helped Tata Steel hive off its European operations now appears to be unlikely, analysts concurred after the Thyssenkrupp-Tata Steel joint venture that was in the works for a year fell apart last week. A report by foreign brokerage firm noted that Tata “will continue to explore all options including […]
Chinese authorities said the country will press ahead with the efforts to cut excess capacity in key areas, including coal and steel sectors, this year, according to the official Xinhua news agency. In 2019, the government will focus on structural capacity cuts and promote the systematic improvement of production capacity, it quoted a circular jointly […]
The growth of eight core sectors improved marginally to 4.7 per cent in March 2019 against 4.5 per cent in the same month last year. This is the highest growth in five months, with impressive recoveries in the refinery products segment. Cement production, too, improved rapidly last month. Data released by the Ministry of Commerce […]
India’s crude steel production fell by 1 per cent to 9.412 million tonnes uring March 2019, according to World Steel Association’s (worldsteel) report. India had produced 9.506 million tonnes crude steel during the same month a year ago, the global steel industry body said in its latest report. India produced 9.412 million tonnes crude steel […]
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 […]
