CATEGORIES
Railways' ore handling down 1.25% in April-December
Railways during April-December transported iron ore of 111.32 mt, down by 1.25% from 112.74 mt during year-ago period.
PM chairs 35th Pragati interaction
Prime Minister Narendra Modi recently chaired the meeting of 35th edition of Pragati, the multi-modal platform for Pro-Active Governance and Timely Implementation, involving Central and State governments.
Government floats EoI to privatise Neelachal Ispat
The Central government, vide order dated Jan 5, in exercise of its powers u/s 20A of the MMDR Act, 1957 has granted permission to sell up to 25% of the annual iron ore production of NINL as per the MDPA executed by the company for a period of 1 year or till the completion of disinvestment of the company, whichever is earlier, under intimation to the State Government and Indian Bureau of Mines.
Car sales northbound in February
Indian auto sector seems to be in a growth drive, with passenger car sales clocking growth for the seventh month in succession.
Indian steel: realigning to new normal
The Indian steel sector is passing through a crucial juncture. It looks up to a new beginning by realigning its priorities as India awaits the end of the Covid pandemic.
Consumption of special steel in automobiles poised for growth
The Indian automotive and other sectors that consume special steel (alloy steel) are poised for good demand and growth, thanks to a proactive Budget and increasing economic activity, Sridhar Krishnamoorthy, Managing Director, Arjas Steel, said.
Government to disinvest 100% in RINL
“CCEA has given inprinciple approval for 100% strategic disinvestment of GoI shareholding in RINL along with management control by way of privatization,” Secretary, DIPAM.
December crude steel production up 4% on year
India’s crude steel production stood at 9.79 million tons (mt) in December, up 4.4 percent over same month of the previous year and was up by 3.7 percent over November, provisional steel ministry data showed.
January crude steel production up 7.6% y-o-y
India’s crude steel production stood at 10.014 million tons (mt) in January 2021, up 7.6 percent over January 2020 and was down by 1.9 percent over December 2020, provisional steel ministry data showed.
Seaborne coking coal offers surge in January
Seaborne coking coal offers moved up in January as new deals were sealed at higher prices, market sources said.
Commercial Coal Mine Auction: Dawn Of A New Era
The month of November turned historic with the execution of country’s maiden auction of coal mines for commercial usage that marked country’s transition to a liberalised coal sector that promises access to a fuel on demand at competitive prices without bureaucratic hassles and monopolistic attitude.
US Steel fires Electric Arc Furnace to cut carbon costs
Issues maiden green bond to finance project
Seaborne coking coal offers fall in November
Seaborne coking coal offers fell in November as demand weakened amid impact of import restrictions in China, sources said. Spot prices slumped on reports of diversion of coal vessels to other places as Chinese customers were deferring inbound shipments from Australia.
October crude steel production up 3% on month
India’s crude steel production stood at 9.06 million tons (mt) in October 2020, up 0.9 percent over October 2019 and was up by 3.1 percent over September 2020, provisional steel ministry data showed.
Motown sees a dull November sales
“Building on the strong sales momentum that was driven by festive demand this year, the company continues to build high customer excitement through a line-up of technologically advanced and futuristic products.” Tarun Garg, Director - Marketing & Service, Hyundai Motor India
Traffic handled by major ports down 12% till October
The 12 major Indian ports handled 354.82 million tons (mt) of traffic in April-October, lower by 12.43 percent from 405.2 mt recorded for the corresponding period of last year, according to Indian Ports Association (IPA).
Induction furnace route to grow in medium term
Over the years induction furnace route for steelmaking has gained prominence in India.
Coking coal: Rethinking fuel strategy
The recent global geo-political dynamics as well as sharp revival in the steel sector demand post pandemic-induced lockdown have put focus on coking coal, a key input for the steel sector.
Coke sourcing key driver for Tata Metaliks merger with Tata Steel Long Products
Tata Steel has announced the merger of country’s leading producers of high-quality Pig Iron (PI) and Ductile Iron Pipes (DIP) maker, Tata Metaliks into Tata Steel Long Products.
Acquisition of Modern Steels credit neutral for Arjas Steel
Arjas Steel Pvt Ltd’s (ASPL) recent acquisition of Punjab-based Modern Steels Ltd. (MSL) will be credit neutral for the rated entity, believes India Ratings and Research.
Liberty Steel Group eyes thyssenkrupp Europe steel biz
Liberty Steel Group, owned by Sanjeev Gupta-controlled GFG Alliance, has made a non-binding indicative offer to acquire the steel activities of thyssenkrupp.
Steel Ministry aiming at increasing rural steel consumption
India’s per capita steel consumption of 74 kgs has to be increased and there is immense scope for growth of steel consumption in rural areas, Dharmendra Pradhan, Union Minister for Steel and Petroleum and Natural Gas said while addressing a webinar on ‘Atmanirbhar Bharat: Fostering steel usage in Rural economy organised by Ministry of Steel in association with Confederation of Indian Industry (CII).
September crude steel production down 2.9% on year, 4.5% on month
India’s crude steel production fell 2.9 percent to 8.52 million tons (mt) in September on year and was down by 4.5 percent from August, provisional steel ministry data showed.
Indian Railways' iron-ore handling down 7.8% in April-September
Indian Railways during April-September transported 7.8% less iron ore at 67.35 mt than 73.05mt during same period of 2019.
Major ports' traffic down 14% till September
The 12 major Indian ports handled 298 mt traffic in AprilSeptember, 14.27 percent lower than 348.23 mt recorded for the corresponding period of last year, according to Indian Ports Association.
GFG Alliance restarts Adhunik operations
Plans to double capacity
Festive season brings cheer to auto makers
Driven by the festive mood and new cars launches, car sales has witness an upswing in October 2020, as top car makers post growth in sales, with Maruti and Hyundai clocking highest ever monthly sales.
Demand revival keeps steel homebound
A broad-based economic recovery in India is underway with business sentiments improving substantially over the recent months.
Anti-dumping duty on stainless steel may not protect domestic players
Imposition of countervailing duty (CVD) of 21-23 percent on the stainless steel flat products imported from Indonesia effective from August is unlikely to protect the domestic players fully as such trade remedial measures have been responded with side-stepping tactics by exporting nations, by exploiting India’s Free Trade Agreements with other countries.
Low domestic iron ore output impacts supply, prices
India’s iron ore production remained low, resulting in higher prices, industry sources said. Iron ore production is estimated at around 13.3-13.15 million tons levels in August from around 14 million tons in July.