Page 5 - Steel Companies

Steel industry seeks duty cut on key raw materials in upcoming Budget

The basic customs import duty on anthracite coal is 2.5 per cent

New codes likely to take 1,200 steel items out of 'others' category

These new codes will accurately define and classify the imported product

Budget wishlist: Steel industry expects relief from taxes, logistic costs

Hopes are running high in the aluminium industry that the finance minister will finally end the inverted duty regime

Steel companies ramp up iron ore buying on fear of supply disruptions

Almost all leading integrated steel makers and secondary producers have intensified iron ore sourcing to avert raw material crunch and ensure uninterrupted plant operations

White paper to reduce tax burden on steel sector: Dharmendra Pradhan

To provide more relief, Union Minister Dharmendra Pradhan said the government is bringing changes to the Electricity Act which will address concerns related to power tariffs

Indian steel firms should invest in Russia to lower coal prices: Official

Executives of Indian companies met senior Russian officials, and Leonid Petukhov, CEO, Far East Investment and Export Agency in the presence of Union Petroleum and Steel Minister Dharmendra Pradhan

Dharmendra Pradhan invites Japan steel companies to invest in India

His meeting assumes significance as steel companies in Japan have shown interest in investing in India.

Sluggish market may delay Posco decision on investing in India steel plant

India will be adding 20 mt of annual capacity in the next five years

Beleaguered steel firms see ground for 35% cut in iron ore prices

Prices of finished steel products tumble 10-25% since January

Hit by rising costs, steel companies may go for price hike in June

Companies planning to hike prices of flat steel prices by Rs 750-1,000 a tonne

Steel companies turn to small OEMs as car sales continue to drop

Sajjan Jindal-led JSW Steel and Tata Steel are among the top flat steel producers in the country

Steel firms face margin dip due to higher input costs, currency fluctuation

Firms need to watch currency fluctuation, cheaper import, and volatile coking coal prices

Brand transition efforts to vary for new owners of NCLT steel companies

Brand building battle could be tougher for UK-based Liberty House vs Tata Steel, JSW Steel

Steel companies have to sustain by being competitive: Minister

He was speaking at the Global Forum on excess steel capacity in Berlin on November 30

Don't exploit country, keep price below Rs 40k a tonne: Govt to steel firms

The government has recently taken steps to ringfence the steel industry from the onslaught of cheaper imports, which stirred up a hornet's nest

Steel companies fear spike in iron ore prices after SC order

Steel companies are fearing a spurt in iron ore prices in Odisha in the aftermath of the recent Supreme Court order in a case of rampant illegal mining in the state.In its judgement on August 2, the apex court directed recovery of 100 per cent cost of production of iron and manganese ore raised in Odisha beyond the limits approved under environment clearance, forestry approval, consent to operate awarded by the State Pollution Control Board and mining plan approved by the Indian Bureau of Mines (IBM).As per the court order, miners guilty of overproduction- captive as well as merchant lessees have to shell out amount as rationalized by the court appointed central empowered committee (CEC). While the maths for the compensation figure is still being worked out, industry sources have pegged it at about Rs 25,000 crore.As mining companies, mostly the small and mid sized ones are in no position to pay the amount, steel makers feel the cost would be passed on to them in the form of hike in ..

Steel firms paying high price for captive iron ore mines to ensure supply

The auction of iron ore blocks in the country has shown steeper competition and higher price bidding for blocks reserved for captive use compared to those meant for non-captive purpose.Five out of nine iron blocks meant for captive use have gone to bidders with quotes of more than 100 per cent revenue sharing with the states of their location.Till date, 27 mineral blocks have been auctioned out of which 10 are iron ore blocks. Of these 10 blocks nine were reserved for captive use while one was earmarked for non-captive purpose.Even the single mine meant for non-captive use has been bagged by a steel company (Bhushan Power and Steel) which outbid the merchant miners in the race for Netrabandh Pahar mine. "This trend shows more strident urgency among steel companies, operating without captive mineral resources, to secure raw material supply compared to merchant miners who only want to get hold of iron ore mines for trading purposes", said an analyst.More than 75 per cent of the steel ...

Steel companies roll over prices

Together, iron ore and coking coal account for about 75% of the total cost for steel

Domestic steel companies focus on exports to enhance revenues

Steel exports more than doubled to 8.24 mt in FY17 from 4 mt in FY16, production up 11% at 101.27 mt

Low prices, rising costs cast a shadow on steel companies

Sluggishness in real estate, construction likely to keep steel prices low, says ICRA