ArcelorMittal Nippon Steel participating in Odisha iron ore mine auctions

To securitise its iron ore requirements, ArcelorMittal Nippon Steel (AMNS) is participating in the ongoing auctions of iron ore mines in Odisha, PTI reports. ArcelorMittal Nippon Steel India (AMNS India) is a 60:40 joint venture between L N Mittal-owned ArcelorMittal and Japan-based Nippon Steel Corporation. “We are participating in ongoing auctions of mines in Odisha,” […]

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Indian mining sector breathes sigh of relief after government amends mining law

Steel companies and mining companies in India have heaved a sigh of relief after the government amended the prevailing mining law to permit the “seamless transfer” of regulatory approvals to new owners of operational iron ore mines, the Economic Times reported. Earlier last week, the government amended the Mines & Minerals (Development & Regulation) Act […]

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High premium committed at iron ore auction to take toll on steel companies next fiscal: CRISIL

The production cost difference between integrated steel producers and others is expected to increase sharply after the aggressive bidding by merchant iron ore in Karnataka. The iron ore cost is set to rise 30-40 per cent for non-integrated steel companies after the Karnataka auction. Bidders have to commit a portion of their iron sales realisation […]

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World crude steel production declines by 1% in November 2019: Worldsteel

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World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 147.8 million tonnes in November 2019, a 1.0 per cent decrease compared to November 2018. China’s crude steel production for November 2019 was 80.3 million tonnes, an increase of 4.0 per cent compared to November 2018. India produced 8.9 […]

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Output of eight core industries declines by 5.8% in October 2019

Output of eight core infrastructure industries contracted by 5.8 per cent in October, indicating the severity of economic slowdown, according to government data. Eight core industries posted marginal 0.2% growth in output for April-October 2019. As many as six of eight core industries saw a contraction in output in October. The Eight Core Industries carrying […]

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India’s crude steel output dips 3.4% to 9.08 million tonnes in October 2019

India’s crude steel output fell 3.4 per cent to 9.089 million tonnes during October this year, according to World Steel Association (worldsteel). The country had produced 9.408 million tonnes crude steel during the same month a year-ago, the global industry body said in its latest report. Global steel output stood at 151.494 million tonnes in […]

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