CATEGORIES

Steel Demand Picks Up In First 9 Months Of FY18: ICRA

A pick up in domestic steel demand, sustained buoyancy in the auto sector and a recovery in construction and capital goods along with consolidation in the sector as part of the insolvency resolution of stressed steel assets is tipped to favour production growth in steel sector, according to ratings agency, ICRA.

TRL Krosaki Eyeing 7-10% Topline Growth In Current Fiscal

Established in 1958, TRL Krosaki Refractories Limited (formerly Tata Refractories Limited) has pioneered refractory production in India. Today, this Integrated Management Systems (IMS) certified company is a leading player in the country with a wide range of products like basic, dolomite, high alumina, monolithic, silica, flow control and tap hole clay refractories. Its key customers are the steel, cement, glass, copper and aluminium industries. Having always been at the vanguard of cutting-edge technology, the company is now looking at bringing in new refractory technologies from Krosaki Harima for improving the efficiency of the steel casting area. The company is also looking at the copper and aluminum markets to boost growth, Priyabrata Panda, Managing Director, TRL Krosaki, tells Madhumita Mookerji. Excerpts:

Steel Companies Have To Sustain By Being Competitive: Union Minister

Steel Companies Have To Sustain By Being Competitive: Union Minister

NMDC Q2 PAT up 10% y-o-y to ₹844 crore

NMDC Q2 PAT up 10% y-o-y to ₹844 crore

FY19: year of steel industry consolidation?

M&A and brownfield measures likely to be primary route of expansion in short to medium term

JSW Steel Plans To Invest $500 Million In Texas Unit

India’s JSW Steel Ltd would spend $500 million to build out its U.S. operations in Texas. The company has signed an agreement with the Texas governor’s office, under which the governor has approved a grant worth $3.4 million to the company’s unit, the steelmaker said in a statement.

Steel Sector Margins To Shrink In FY20: Crisil

With the Indian economy caught in crosswinds, rating agency CRISIL expects gross domestic product (GDP) to grow 6.9 percent this fiscal, or 20 basis points lower than what the agency had envisaged earlier.

Fiscal Starts On A Low As Car Makers Post De-growth In Sales

The new fiscal (2019-20) started off on a low note as leading auto makers posted de-growth in sales, owing to the ongoing elections, new regulations and unfavorable exchange rates. During April 2019, all car makers barring Honda has witnessed decline in their sales graph.

Car Sales Yet To Pick Up Ahead Festivities

Ahead of festivities like Diwali and Dhanteras, India’s motown is still expecting the market to pick up as October 2018 sales were bland and couldn’t bring on a smile for a lot many automobile manufacturers.

'Procurement Strategy Key For Stainless Steel Sector Growth'

Stainless steel consumption in India is growing at 7 - 9 percent annually since the last one decade as the country has now graduated as one of the top three consumers and producers in the world. Since most of the raw material is imported, domestic players remain under margin pressure. In such a situation, procurement planning and strategy will play a key role for meeting the increased requirement of raw materials which constitute around 70 percent of the total cost of production, said R Ganesh, Director - Sourcing, Jindal Stainless Limited in a freewheeling interview to Ritwik Sinha.

India Should Increase Steel Exports To 6-7%: Minister

India Should Increase Steel Exports To 6-7%: Minister

Tata Metaliks Q3 Net Profit Surges

Tata Metaliks Q3 Net Profit Surges

Vedanta Reports Flat Growth In Profit at ₹2,173 Crore In Q3

Vedanta Reports Flat Growth In Profit at ₹2,173 Crore In Q3

Tata Steel Commissions SLS Plant For GCP Slurry

Tata Steel Commissions SLS Plant For GCP Slurry

Budget Disappoints Luxury Car Makers

Budget Disappoints Luxury Car Makers

Lime Waiting For Steel's Turnaround

Though lime finds applications in a range of industries, its single largest user world-wide is steel. And, with the market for the latter being depressed for the last few years, the lime industry has been experiencing a sluggish 3-4 percent growth annually in India. Adding to its woes is the fact that the industry is highly unorganised, dominated by bit players. But Sigma Minerals, keeping an eye on future demand, is planning to set up a new modern kiln and hydration plant in the course of the next 2 years at an investment of ₹40-45 crore and is eyeing more mines, preferably in the Nagaur district of north-western Rajasthan, Surendra Nath Bhargava, Managing Director, Sigma Minerals, told Steel Insights.

Iron-Ore Handled By Major Ports Rise Threefold In Apr-Jan

Movement of iron ore through the 12 major Indian ports showed a rise of more than three folds in 2016-17.

Safeguard duty imposed on select imports, MIP extended

The government has slapped a safeguard duty on imports of certain steel products to protect domestic manufacturers from cheap in-bound shipments.

Demonetisation to impact steel & consuming sectors

The government’s demonetisation move will impact the steel industry and its consuming sectors hard, according to analysts.

Tata Steel Reports Higher Consolidated Q1 PAT

Tata Steel Ltd posted consolidated profit after tax from continuing operations before exceptional items at ₹1,550 crores for Q1FY18 compared to ₹377 crores in Q1FY17 and ₹3,352 crores in Q4FY17. The steel major’s consolidated quarterly revenues of ₹30,973 crores is up 19 percent over the last year but down by 12 percent quarter on quarter.

Sail To Emphasis On Product Differentiation: Chairman

Steel Authority of India (SAIL) to focus on product differentiation as the key to meet the stiff competition in the era of high over-capacities, said the P K Singh, Chairman of the steel major while interacting with employees at the Rourkela Steel Plant (RSP).

Iran Well On Its Way To 2025 Goal

Iran is rising in Asian steel market. As per World Steel Association (WSA) data, Tehran has already manufactured more than 66 percent of West Asia’s total steel production in July 2017, with volumes at 1.575 million tons (mt). Moreover, compared on a year-on-year (y-o-y) basis, there was a clear 16.58 percent rise in Iranian domestic production as it was 1.351 mt in July 2016.

Coking Coal Continues To Surge In August

Seaborne coking coal prices continued their northward march on sustained Chinese buying of the material, industry sources said.

Steel & Petroleum Ministries In Talks Over Gail Gas Sale To Steel Mills

An old army maxim, which is gaining currency in management courses as well is that, people continue to do what they know. Rarely do people know, at any given point in time, what needs to be done! It is the latter category of activity that can bring about gainful disruptions.

Reduction Of Duties, New Stainless Steel Uses To Spur Growth: ISSDA President

The Indian stainless steel industry is looking ahead at a brighter future as use of stainless steel has started moving away from conventional kitchenware and appliances to other sectors such as architectural building and construction, automotive, railways, transport, process and engineering. However, the per capita consumption is still 2 kg against the world average of 6 kg. Moreover, the capacity utilisation has been low due to the pressures of imports. Removal of the import duty on raw materials such as ferro nickel and stainless steel scrap seems to be the need of the hour. Positive government policies will not only give a fillip to the sector but also help in full utilization of the existing plants’ capacities, which in turn will reduce dependence on imports, said K K Pahuja, President, Indian Stainless Steel Development Association (ISSDA) in a free-wheeling interview to Ritwik Sinha. Further, the ISSDA President also stressed on use of stainless steel in construction of railway coaches to reduce loss of life caused by accidents.

Large Furnaces Shaping Refractory Future

Large Furnaces Shaping Refractory Future

Primetals Supplies ERT-EBROS Billet Welding System

Primetals Supplies ERT-EBROS Billet Welding System

SAIL Narrows Net Loss To ₹539 Crore In Q2

SAIL Narrows Net Loss To ₹539 Crore In Q2

Traffic Handled By Major Ports Up 3% In Apr-Oct

Traffic Handled By Major Ports Up 3% In Apr-Oct

India Ferrous Scrap Imports, Consumption To Rise

India Ferrous Scrap Imports, Consumption To Rise