Tata Steel reported a 7 per cent rise in consolidated steel output to 7.78 million tonnes (MT) for the July-September period this ongoing fiscal, FY 2021-22. The company’s consolidated steel production was 7.25 million tonnes in the same period last year, Tata Steel said in a statement. Tata Steel’s consolidated sales during the quarter under […]
The iron ore price extended its slump below $100 a tonne as China stepped up restrictions on industrial activity in some provinces. The world’s biggest steelmaker is intensifying production curbs to meet a target for lower volumes this year as it works toward a target of reaching carbon neutrality by 2060. According to Fastmarkets MB, benchmark 62% Fe fines […]
High coking coal prices are likely to impact gross margins of steel mills, says India Ratings and Research (Ind-Ra). Accordingly, coking coal prices were up 5 per cent month-on-month and 103 per cent year-on-year to $ 222 per tonne in mid-August 2021. “Australian coking coal prices are receiving support from a strong demand from Asian […]
Steel Authority of India Ltd is aiming to reduce its net debt to a range of Rs 15,000-20,000 crore in the current fiscal if the prices and demand for the commodity remain stable. The Maharatna PSU has around Rs 30,000 crore net debt as of June 30, 2021, down from Rs 35,350 crore by end of […]
It takes just one statement from Chinese authorities or a steel producers’ body in China to change the dynamics and economics of Indian companies in the iron ores sector. Prices of steel and iron ore in India have been volatile in recent weeks because of developments in China, which is trying to regulate the metal’s […]
Steel prices in India have declined from the historical highs of July 2021 despite the slight rise in global steel prices. In July 2021, till 30 July, steel prices fell by approximately 3.5 per cent month-on-month. Steel prices were below 3 per cent off its peak value. Last week, India’s top steelmakers announced a price […]
One of the biggest drivers of the surge in metals prices this year, the world’s top commodity consumer China, is showing signs of a slowdown in demand, which could drag down copper and iron ore prices for the rest of the year after a blistering rally in the first half. Chinese factory activity growth slowed […]
Uncertainty in steel prices have prompted a few engineering procurement and construction (EPC) players in the highways sector to negotiate with the domestic steel majors for fixed-price annual contracts. Concerned about the rising cost of the raw material, some of them have requested the ministry of road transport and highways (MoRTH) to consider the inclusion […]
The government approved a Rs 6,322-crore production linked incentive (PLI) scheme to boost production of specialty steel in India. A decision in this regard was taken during the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, Information and Broadcasting Minister Anurag Thakur informed. He said that incentives worth Rs 6,322 crore will be […]
ArcelorMittal SA has signed a memorandum of understanding with the Spanish government for a 1 billion euro ($1.2 billion) investment to build the world’s first large-scale zero-carbon steel plant. The company would build a unit that processes iron ore using green hydrogen at its plant in Gijon, a spokesperson for the firm said in a statement. […]
