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India to announce green steel formula by mid-December, source says India will announce a formula for defining so-called green steel by mid-December and is working on government procurement for decarbonised steel, a government source familiar with the matter told Reuters on Monday. The federal Ministry of Steel did not immediately respond to a Reuters email for comments. The official could not be named as the details were not yet public.
India to announce green steel formula by mid-December, source says
India to announce green steel formula by mid-December, source says
Source: Reuters
2024-11-18 04:18:17 pm
Global Steel Demand to Decline for Third Straight Year by Amit Gupta, Kedia Advisory The World Steel Association has downgraded its 2024 global steel demand forecast, now expecting a decline of 0.9% to 1.75 billion metric tons, compared to the previously anticipated 1.7% growth. The revision marks the third consecutive year of declining demand amid weak manufacturing and economic growth. China's troubled property sector continues to weigh on demand, with a 3% drop expected this year and a further 1% decline in 2025. However, India is projected to drive global demand growt...
Global Steel Demand to Decline for Third Straight Year by Amit Gupta, Kedia Advisory
Global Steel Demand to Decline for Third Straight Year by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-10-15 10:34:32 am
Lloyds Engineering Works gains on getting nod to acquire assets of engineering division of Bhilai Engineering Lloyds Engineering Works is currently trading at Rs. 80.50, up by 0.42 points or 0.52% from its previous closing of Rs. 80.08 on the BSE. The scrip opened at Rs. 80.06 and has touched a high and low of Rs. 81.39 and Rs. 78.74 respectively. So far 218137 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 93.49 on 30-Jul-2024 and a 52 week low of Rs. 40.24 on 26-Oct-2023. Last one week high and low of the scrip stood...
Lloyds Engineering Works gains on getting nod to acquire assets of engineering division of Bhilai Engineering
Lloyds Engineering Works gains on getting nod to acquire assets of engineering division of Bhilai Engineering
Source: Accord Fintech
2024-10-11 10:53:56 am
Steel, fertilisers clock positive growth in August: Centre The production of steel and fertilisers recorded positive growth in the month of August as the eight core industries’ index declined by 1.8 per cent (provisional) on an annual basis, the government said on Monday.   Fertiliser production increased by 3.2 per cent in August over the same month last year. Its cumulative index increased by 1.7 per cent from April to August 2024-25 over the corresponding period of the previous year, according to data released by the Commerce and Ind...
Steel, fertilisers clock positive growth in August: Centre
Steel, fertilisers clock positive growth in August: Centre
Source: IANS
2024-10-01 08:39:17 am
Domestic steel consumption likely to witness 9-10% growth in FY25: ICRA Credit rating agency ICRA in its latest report has said that domestic steel consumption is likely to witness 9-10 per cent growth this financial year (FY25). The demand for steel was robust in the first quarter of the ongoing financial year (Q1FY25) with consumption growing at a rate of 15 per cent on a year-on-year basis amidst competitively priced imports. Demand may record some sequential slowdown in the current quarter as it is seasonality associated with monsoon, following which governme...
Domestic steel consumption likely to witness 9-10% growth in FY25: ICRA
Domestic steel consumption likely to witness 9-10% growth in FY25: ICRA
Source: Accord Fintech
2024-09-13 11:53:33 am
Indian steel market hit by unfair imports, dumping amid demand slump in China: Former steel secretary Former steel secretary Nagendra Nath Sinha has said that Indian steel market is hit by ‘unfair imports and dumping’ amid a demand slump in China and the government needs to take action in a time-bound manner. He also warned of the price realisations getting affected due to surging imports impacting the profitability of steel makers. To the extent the imports currently happening are unfair and there is dumping going on and the Indian government should certainly respond to them in a...
Indian steel market hit by unfair imports, dumping amid demand slump in China: Former steel secretary
Indian steel market hit by unfair imports, dumping amid demand slump in China: Former steel secretary
Source: Accord Fintech
2024-08-26 11:36:08 am
India's steel production shot up by over 35 million tonnes in last 4 years: Centre  India's crude steel production has shot up by over 35 million tonnes in the last four years from 109.14 million tonnes in 2019-20 to 144.30 million tonnes in 2023-24, the government informed the Parliament on Friday.  India became the world's second-largest steel producer in 2018 surpassing Japan and has succeeded in maintaining this rank since then, Minister of State for Steel and Heavy Industries Bhupathi Raju Srinivasa Varma told the Rajya Sabha. He said the Govern...
India's steel production shot up by over 35 million tonnes in last 4 years: Centre
India's steel production shot up by over 35 million tonnes in last 4 years: Centre
Source: IANS
2024-08-09 06:08:07 pm
Indian steelmakers seek to soften proposed import curbs on key raw material  Indian steelmakers want the government to soften proposed import restrictions on metallurgical coke, a key ingredient in steelmaking, saying the curbs will hit steel mills' capacity expansion, a letter from the Indian Steel Association, seen by Reuters on Friday, said. India, the world's second-biggest producer of crude steel, in April proposed a country-specific import quota to cap annual imports of low ash metallurgical coke, also known as met coke, at 2.85 million metric t...
Indian steelmakers seek to soften proposed import curbs on key raw material
Indian steelmakers seek to soften proposed import curbs on key raw material
Source: Reuters
2024-08-09 03:54:05 pm
Bansal Wire Industries moves up on acquiring remaining 23.85% stake in Bansal Steel & Power Bansal Wire Industries is currently trading at Rs. 353.25, up by 1.50 points or 0.43% from its previous closing of Rs. 351.75 on the BSE. The scrip opened at Rs. 359.65 and has touched a high and low of Rs. 359.65 and Rs. 353.05 respectively. So far 3340 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 385.00 on 01-Aug-2024 and a 52 week low of Rs. 325.05 on 23-Jul-2024. Last one week high and low of the scrip st...
Bansal Wire Industries moves up on acquiring remaining 23.85% stake in Bansal Steel & Power
Bansal Wire Industries moves up on acquiring remaining 23.85% stake in Bansal Steel & Power
Source: Accord Fintech
2024-08-09 10:32:44 am
Indian steel prices hit more than three-year lows, consultant BigMint says Steel prices in India have plunged to the lowest level in more than three years due to higher imports and subdued exports, according to data from commodities consultancy BigMint. Local prices of hot rolled coils used in the manufacturing sector averaged 52,267 rupees ($622.62) per tonne in July, it said. India, the world's second-biggest crude steel producer, turned a net importer in the fiscal year ended March 31, 2024. The trend continued with finished steel imports scaling a five...
Indian steel prices hit more than three-year lows, consultant BigMint says
Indian steel prices hit more than three-year lows, consultant BigMint says
Source: Reuters
2024-08-07 04:05:54 pm
Steel production projected to cross 300 MT by 2030 amid infra push: Centre  Driven by robust demand for government infrastructure projects, the country’s domestic steel production is projected to cross 300 million tonnes (MT) by 2030, Steel Secretary Nagaendra Nath Sinha said on Saturday.   Addressing the Bharat Chamber of Commerce (BCC) here, the senior official said current steel demand remains strong with infrastructure push from the government and expecting a growth of about 10 per cent. Sinha further said that amid the strong GDP growth...
Steel production projected to cross 300 MT by 2030 amid infra push: Centre
Steel production projected to cross 300 MT by 2030 amid infra push: Centre
Source: IANS
2024-07-28 09:06:35 am
Steel stocks declines despite FM announces support for development of indegenious capacity of production of high grade steel Shares of companies related to Steel industry declined even after Finance Minister announced support for development of indegenious capacity of production of high grade steel Jindal Steel & Power is currently trading at Rs. 936.95, down by 15.35 points or 1.61 % from its previous closing of Rs. 952.30 on the BSE. The scrip opened at Rs. 958.05 and has touched a high and low of Rs. 961.05 and Rs. 936.00 respectively. So far 16606 shares were traded on the counter. Tata Steel is curre...
Steel stocks declines despite FM announces support for development of indegenious capacity of production of high grade steel
Steel stocks declines despite FM announces support for development of indegenious capacity of production of high grade steel
Source: Accord Fintech
2024-07-23 12:34:14 pm
ArcelorMittal`s 55-day Mexico work stoppage ends, firm agrees pay hike Steelmaker ArcelorMittal said on Thursday that a 55-day blockade at one of its sites in Mexico ended after workers approved a new settlement that includes an 8% pay hike for employees and review of their collective bargaining agreement. Workers affiliated with the mining union had been protesting since late May against the annual profit distribution to employees decided by the company for 2023, bringing all activities to a halt. In a statement, ArcelorMittal said the settlement, besides...
ArcelorMittal`s 55-day Mexico work stoppage ends, firm agrees pay hike
ArcelorMittal`s 55-day Mexico work stoppage ends, firm agrees pay hike
Source: Reuters
2024-07-19 09:31:50 am
Possible to revive Vizag Steel Plant, PM will take decision: Kumaraswamy Ruling out the privatisation of the Visakhapatnam Steel Plant, Union Heavy Industries and Steel Minister H.D. Kumaraswamy on Thursday said that there is a possibility of reviving the plant and a final decision would be taken by Prime Minister Narendra Modi.  He told media persons after a visit to the plant that there is a possibility of reviving the public sector undertaking. "Who told you we are going to privatise? Why did I come here? There is no question of privatisation. B...
Possible to revive Vizag Steel Plant, PM will take decision: Kumaraswamy
Possible to revive Vizag Steel Plant, PM will take decision: Kumaraswamy
Source: IANS
2024-07-11 05:28:31 pm
Government makes ISI mark mandatory for steel & aluminium utensils to ensure safety in kitchens Govt makes ISI mark mandatory for steel & aluminium utensils to ensure safety in kitchens New Delhi, July 5 (IANS) In a significant move to enhance kitchen safety and quality, the Central government on Friday made it mandatory for stainless steel and aluminium utensils to conform to the Bureau of Indian Standards (BIS), the Commerce and Industry Ministry said. According to the Quality Control Order issued by the Department for Promotion of Industry and Internal Trade (DPIIT), Minist...
Government makes ISI mark mandatory for steel & aluminium utensils to ensure safety in kitchens
Government makes ISI mark mandatory for steel & aluminium utensils to ensure safety in kitchens
Source: IANS
2024-07-05 03:08:52 pm
Welspun Specialty Solutions jumps on bagging contract worth Rs 117.17 crore Welspun Specialty Solutions is currently trading at Rs. 43.92, up by 2.64 points or 6.40% from its previous closing of Rs. 41.28 on the BSE. The scrip opened at Rs. 43.50 and has touched a high and low of Rs. 45.00 and Rs. 43.14 respectively. So far 1045554 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 6 has touched a 52 week high of Rs. 46.03 on 25-Jan-2024 and a 52 week low of Rs. 26.62 on 03-Jul-2023. Last one week high and low of the scrip s...
Welspun Specialty Solutions jumps on bagging contract worth Rs 117.17 crore
Welspun Specialty Solutions jumps on bagging contract worth Rs 117.17 crore
Source: Accord Fintech
2024-07-02 11:46:39 am
India steel, trade ministries in talks over rising Chinese imports, says source India's steel and trade ministries are in talks over rising imports, particularly cheap Chinese goods, a government source with direct knowledge of the matter said on Saturday, amid persistent calls for higher tariffs from top producers. India turned net steel importer in the fiscal year that ended in March and the trend continues with its finished steel imports scaling a five-year high in April and May, according to provisional government data. India imported 1.1 million metric ton...
India steel, trade ministries in talks over rising Chinese imports, says source
India steel, trade ministries in talks over rising Chinese imports, says source
Source: Reuters
2024-07-01 09:38:29 am
India turns net importer of steel in FY24: CRISIL CRISIL in its latest report has said that in a shift from its status as a net exporter of steel since fiscal 2017, India has become a net importer in fiscal 2024 (FY24), recording an overall steel trade deficit of 1.1 million tonnes (MT). The development highlights a dynamic change in the country’s steel trade landscape, largely influenced by surging domestic demand and increased imports from major steel-producing nations. It stated India’s imports of finished steel reached 8.3...
India turns net importer of steel in FY24: CRISIL
India turns net importer of steel in FY24: CRISIL
Source: Accord Fintech
2024-06-21 10:24:12 am
MECON Ltd seeks bids for use of green hydrogen in making steel As part of the government's move to replace fossil fuels with green hydrogen in steel manufacturing, MECON Limited has invited proposals from prospective bidders for use of Hydrogen in DRI Pilot Plant, in existing Blast Furnace and in existing DRI Vertical shaft.  The request for Proposal (RfP) document has been uploaded in e-tender mode in Tenderwizard, MECON website and in Central Procurement Portal for which the bid submission date is July 8, 2024. The Central public sector ...
MECON Ltd seeks bids for use of green hydrogen in making steel
MECON Ltd seeks bids for use of green hydrogen in making steel
Source: IANS
2024-06-14 09:04:55 am
Steel demand expected to grow in range of 9-12% in current fiscal: Ind-Ra The rating agency -- India Ratings and Research (Ind-Ra) in its latest report has said that the steel demand is expected to grow in the range of 9-12 per cent during the ongoing 2024-25 fiscal. It stated the demand will be supported by steady growth in the end-user industries such as automobile and infrastructure sectors. The agency further said that it expects the global steel demand to be steady with some moderation in China demand due to its transition to low carbon initiatives and mode...
Steel demand expected to grow in range of 9-12% in current fiscal: Ind-Ra
Steel demand expected to grow in range of 9-12% in current fiscal: Ind-Ra
Source: Accord Fintech
2024-06-12 10:42:42 am
ICRA revises outlook growth target for domestic steel demand to 9-10% for FY25 Credit rating agency ICRA in its latest report has revised its outlook growth target for domestic steel demand to 9-10 per cent for the current fiscal (FY25) as compared to the earlier estimate of 7-8 per cent, on healthy government spending and demand from steel-consuming sectors. It said the domestic steel consumption registered a growth of 11.3 per cent between February to April 2024. According to the report, government capex spending was also healthy until February 2024, and other stee...
ICRA revises outlook growth target for domestic steel demand to 9-10% for FY25
ICRA revises outlook growth target for domestic steel demand to 9-10% for FY25
Source: Accord Fintech
2024-06-04 11:13:56 am
India`s steel demand likely to grow at 10% over next few years: Steel Secretary Steel Secretary Nagendra Nath Sinha has said that India’s steel demand is expected to grow at a rate of 10 per cent over the next few years, supported by the government's focus on infrastructure. The secretary said with the government's focus on infrastructure, the domestic steel demand will grow in double-digits. He said the demand has grown by 13-14 per cent year-on-year in the financial year 2023-24. It will continue to grow by 10 per cent in the future. As per official...
India`s steel demand likely to grow at 10% over next few years: Steel Secretary
India`s steel demand likely to grow at 10% over next few years: Steel Secretary
Source: Accord Fintech
2024-05-09 02:33:11 pm
Output of eight core industries registers growth of 5.2% in March 2024 The output of eight core industries posted a growth of 5.2 percent in March 2024 as the production of cement, coal, electricity, natural gas, steel and crude oil recorded positive growth in the same month. The output of core sectors had grown by 7.1 per cent in February 2024 and 4.1 per cent in January 2024, while it stood 4.2 per cent in March 2023. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 per cen...
Output of eight core industries registers growth of 5.2% in March 2024
Output of eight core industries registers growth of 5.2% in March 2024
Source: Accord Fintech
2024-05-02 11:34:51 am
Core sector industries clock 5.2 per cent growth in March The eight core industries, which include sectors such as coal, cement, steel and electricity, posted a 5.2 per cent growth in March this year compared to the same month of the previous year, according to data released by the Commerce and Industry Ministry on Tuesday. Cement production recorded a double-digit 10.6 per cent growth during the month on the back of increased demand from big infrastructure projects and pick-up in the real estate sector. Steel production also increased by 5.5 per...
Core sector industries clock 5.2 per cent growth in March
Core sector industries clock 5.2 per cent growth in March
Source: IANS
2024-05-01 09:07:36 am
Tata Steel India clocks record production Tata Steel India recorded its highest annual crude steel production at 20.8 million metric tons in 2023-24, which represents a 4 per cent increase over the corresponding figure of the previous year, provisional data released by the company shows. In the Jan-March quarter crude steel production was broadly stable and stood at around 5.38 million tonnes. Domestic deliveries grew by 9 per cent year-on-year driven by the higher demand for steel in the country. However, Tata Steel continu...
Tata Steel India clocks record production
Tata Steel India clocks record production
Source: IANS
2024-04-06 02:56:34 pm
Jindal Stainless moves up on acquiring additional 30% stake in lberjindal Jindal Stainless is currently trading at Rs. 708.80, up by 1.15 points or 0.16% from its previous closing of Rs. 707.65 on the BSE. The scrip opened at Rs. 706.20 and has touched a high and low of Rs. 710.70 and Rs. 700.55 respectively. So far 19532 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 728.15 on 02-Apr-2024 and a 52 week low of Rs. 255.00 on 13-Apr-2023. Last one week high and low of the scrip stood a...
Jindal Stainless moves up on acquiring additional 30% stake in lberjindal
Jindal Stainless moves up on acquiring additional 30% stake in lberjindal
Source: Accord Fintech
2024-04-05 11:59:53 am
SAIL moves up on logging 5% rise in crude steel production during FY24 Steel Authority Of India is currently trading at Rs. 142.00, up by 1.30 points or 0.92% from its previous closing of Rs. 140.70 on the BSE. The scrip opened at Rs. 140.60 and has touched a high and low of Rs. 142.40 and Rs. 139.65 respectively. So far 366439 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 150.00 on 07-Feb-2024 and a 52 week low of Rs. 80.50 on 26-May-2023. Last one week high and low of the scri...
SAIL moves up on logging 5% rise in crude steel production during FY24
SAIL moves up on logging 5% rise in crude steel production during FY24
Source: Accord Fintech
2024-04-02 10:18:08 am
SAIL saleable steel output increases to record 18.4 million tonnes in 2023-24 Public sector giant Steel Authority of India Limited (SAIL), has recorded a 7 per cent rise in saleable steel output to a record level of 18.4 million tonnes for the financial year ended on March 31, 2024 as compared to 2022-23, according to an official statement issued on Monday. The company also achieved its highest-ever sales volume of 17.1 million tonnes during 2023-24, registering a growth of more than 5 per cent over the previous year. SAIL also recorded a 6 per cent surge in hot ...
SAIL saleable steel output increases to record 18.4 million tonnes in 2023-24
SAIL saleable steel output increases to record 18.4 million tonnes in 2023-24
Source: IANS
2024-04-01 06:06:18 pm
Tata Steel gains on raising Rs 2,700 crore via NCDs Tata Steel is currently trading at Rs. 153.45, up by 1.15 points or 0.76% from its previous closing of Rs. 152.30 on the BSE. The scrip opened at Rs. 152.65 and has touched a high and low of Rs. 153.80 and Rs. 152.05 respectively. So far 997875 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 159.50 on 11-Mar-2024 and a 52 week low of Rs. 101.65 on 29-Mar-2023. Last one week high and low of the scrip stood at Rs....
Tata Steel gains on raising Rs 2,700 crore via NCDs
Tata Steel gains on raising Rs 2,700 crore via NCDs
Source: Accord Fintech
2024-03-27 02:25:36 pm
Shyam Metalics gains as its JV gets letter of intent for Maharashtra iron ore block Shyam Metalics and Energy is currently trading at Rs. 610.55, up by 10.70 points or 1.78% from its previous closing of Rs. 599.85 on the BSE. The scrip opened at Rs. 616.70 and has touched a high and low of Rs. 622.95 and Rs. 607.60 respectively. So far 28511 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 772.30 on 12-Feb-2024 and a 52 week low of Rs. 253.05 on 29-Mar-2023. Last one week high and low of the sc...
Shyam Metalics gains as its JV gets letter of intent for Maharashtra iron ore block
Shyam Metalics gains as its JV gets letter of intent for Maharashtra iron ore block
Source: Accord Fintech
2024-03-27 11:31:00 am
Jindal Stainless zooms on partnering with IIT Kharagpur to jointly work on metallurgical projects Jindal Stainless is currently trading at Rs. 712.50, up by 19.40 points or 2.80% from its previous closing of Rs. 693.10 on the BSE. The scrip opened at Rs. 693.50 and has touched a high and low of Rs. 716.90 and Rs. 691.10 respectively. So far 34236 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 716.90 on 26-Mar-2024 and a 52 week low of Rs. 255.00 on 13-Apr-2023. Last one week high and low of the scrip stood ...
Jindal Stainless zooms on partnering with IIT Kharagpur to jointly work on metallurgical projects
Jindal Stainless zooms on partnering with IIT Kharagpur to jointly work on metallurgical projects
Source: IANS
2024-03-26 01:59:25 pm
India`s steel majors to invest billions to meet buoyant local demand Leading Indian steel producers, including JSW Steel Ltd and Tata Steel Ltd, are expected to invest billions in a record capacity increase to benefit from rising domestic demand in one of the world's fastest growing economies. A spurt in economic activity and a revamp of broader infrastructure have drawn steel makers from around the world to India, where demand is rising. In Europe and the United States, it is falling. Analysts and company data showed major mills were planning to inc...
India`s steel majors to invest billions to meet buoyant local demand
India`s steel majors to invest billions to meet buoyant local demand
Source: Reuters
2024-03-19 05:32:23 pm
Salasar Techno Engineering surges on emerging as highest bidder for acquisition of M/s EMC Salasar Techno Engineering is currently trading at Rs. 21.62, up by 0.11 points or 0.51% from its previous closing of Rs. 21.51 on the BSE. The scrip opened at Rs. 22.28 and has touched a high and low of Rs. 22.54 and Rs. 21.30 respectively. So far 1298604 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 34.08 on 07-Feb-2024 and a 52 week low of Rs. 7.20 on 28-Mar-2023. Last one week high and low of the scrip sto...
Salasar Techno Engineering surges on emerging as highest bidder for acquisition of M/s EMC
Salasar Techno Engineering surges on emerging as highest bidder for acquisition of M/s EMC
Source: Accord Fintech
2024-03-18 12:26:13 pm
Salasar Techno Engineering falls despite securing Notification of Award for contracts worth Rs 1033.78 crore Salasar Techno Engineering is currently trading at Rs. 19.67, down by 1.03 points or 4.98% from its previous closing of Rs. 20.70 on the BSE. The scrip opened at Rs. 19.75 and has touched a high and low of Rs. 21.11 and Rs. 19.67 respectively. So far 3084387 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 34.08 on 07-Feb-2024 and a 52 week low of Rs. 7.20 on 28-Mar-2023. Last one week high and low of the scrip s...
Salasar Techno Engineering falls despite securing Notification of Award for contracts worth Rs 1033.78 crore
Salasar Techno Engineering falls despite securing Notification of Award for contracts worth Rs 1033.78 crore
Source: Accord Fintech
2024-03-13 02:05:44 pm
Steel stocks trade under pressure on prospects of lower consumption Steel industry stocks were under pressure on the BSE, as credit rating agency Icra in its latest report has said that India's domestic steel consumption growth is likely to come down to 7-8 per cent in the next financial year (FY25) against an estimated 12-13 per cent this fiscal (FY24) due to moderate government spending during the election period. It stated elevated input costs, import pressures, along with softer steel prices are expected to sequentially pull down the steel industry...
Steel stocks trade under pressure on prospects of lower consumption
Steel stocks trade under pressure on prospects of lower consumption
Source: Accord Fintech
2024-03-11 12:29:03 pm
India`s domestic steel consumption growth likely to come down to 7-8% in FY25: Icra Icra in its latest report has said that India's domestic steel consumption growth is likely to come down to 7-8 per cent in the next financial year (FY25) against an estimated 12-13 per cent this fiscal (FY24) due to moderate government spending during the election period. It stated elevated input costs, import pressures, along with softer steel prices are expected to sequentially pull down the steel industry's operating profit margins by 110-115 basis points in FY2025.  It sa...
India`s domestic steel consumption growth likely to come down to 7-8% in FY25: Icra
India`s domestic steel consumption growth likely to come down to 7-8% in FY25: Icra
Source: Accord Fintech
2024-03-11 10:14:12 am
JSW Steel climbs on reporting 5% rise in consolidated crude steel production in February 2024 JSW Steel is currently trading at Rs. 829.30, up by 16.55 points or 2.04% from its previous closing of Rs. 812.75 on the BSE. The scrip opened at Rs. 837.95 and has touched a high and low of Rs. 844.60 and Rs. 820.55 respectively. So far 240497 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 895.60 on 28-Dec-2023 and a 52 week low of Rs. 649.75 on 16-Mar-2023. Last one week high and low of the scrip stood at Rs....
JSW Steel climbs on reporting 5% rise in consolidated crude steel production in February 2024
JSW Steel climbs on reporting 5% rise in consolidated crude steel production in February 2024
Source: Accord Fintech
2024-03-07 03:51:59 pm
Jyotiraditya Scindia inaugurates India`s first Green Hydrogen plant in stainless steel sector Union Steel Minister Jyotiraditya M. Scindia on Monday virtually inaugurated India's first Green Hydrogen Plant in the stainless steel sector located at Jindal Stainless Limited in Haryana's Hisar. The project is the world’s first off-grid green hydrogen plant for the stainless steel industry and the world’s first green hydrogen plant with rooftop and floating solar units, according to a Steel Ministry statement. The plant is a state-of-the-art green hydrogen facilit...
Jyotiraditya Scindia inaugurates India`s first Green Hydrogen plant in stainless steel sector
Jyotiraditya Scindia inaugurates India`s first Green Hydrogen plant in stainless steel sector
Source: IANS
2024-03-04 04:02:44 pm
Steel Production Dynamics: Global Shifts and Growth Projections Amidst Regional Variances by Amit Gupta, Kedia Advisory In January 2024, global crude steel production saw a 1.6% decline, notably with China's output plunging while India's surged. Turkey and Iran witnessed remarkable production spikes, contrasting with modest increases in Russia, South Korea, and Japan. Meanwhile, the US, Germany, and Brazil experienced declines. Regional trends varied, with Africa and Europe (Others) showing notable increases, while Asia, Oceania, and South America faced decreases. Despite these shifts, the World Steel ...
Steel Production Dynamics: Global Shifts and Growth Projections Amidst Regional Variances by Amit Gupta, Kedia Advisory
Steel Production Dynamics: Global Shifts and Growth Projections Amidst Regional Variances by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-02-26 10:39:43 am
Ministry of Steel says Rs 12,900 crore invested under PLI scheme for specialty steel The Ministry of Steel has said that about Rs 12,900 crore has already been invested in the domestic steel sector under the Production Linked Incentive (PLI) scheme for specialty steel. In March 2023, 57 memorandum of understandings (MoUs) were signed for generating an investment of about Rs 29,500 crore in the sector by FY28. Further, it stated the scheme envisaged addition of 25 MT capacity for producing specialty steel grades and generating about 17,000 employment opportunities. It said ...
Ministry of Steel says Rs 12,900 crore invested under PLI scheme for specialty steel
Ministry of Steel says Rs 12,900 crore invested under PLI scheme for specialty steel
Source: Accord Fintech
2024-02-15 10:15:07 am
JSW Steel inches up on reporting 7% rise in consolidated crude steel production in January 2024 JSW Steel is currently trading at Rs. 813.55, up by 0.45 points or 0.06% from its previous closing of Rs. 813.10 on the BSE. The scrip opened at Rs. 799.00 and has touched a high and low of Rs. 815.50 and Rs. 796.60 respectively. So far 45518 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 895.60 on 28-Dec-2023 and a 52 week low of Rs. 649.75 on 16-Mar-2023. Last one week high and low of the scrip stood at Rs. 8...
JSW Steel inches up on reporting 7% rise in consolidated crude steel production in January 2024
JSW Steel inches up on reporting 7% rise in consolidated crude steel production in January 2024
Source: Accord Fintech
2024-02-14 03:52:36 pm
India's Steel Surge: Record Imports Fuel Economic Boom Amid Global Slowdown by Amit Gupta, Kedia Advsory India experiences a steel revolution as imports hit a five-year high, reaching 5.6 million metric tons between April and December. With a 14.8% jump in domestic steel consumption, the country emerges as a steel powerhouse, defying the slowdown seen in Europe and the United States. Industry leaders raise concerns about the impact of surging imports, while the government resists curbs, projecting a robust economic outlook. Highlights Five-Year High in Steel Imports: India's steel impo...
India's Steel Surge: Record Imports Fuel Economic Boom Amid Global Slowdown by Amit Gupta, Kedia Advsory
India's Steel Surge: Record Imports Fuel Economic Boom Amid Global Slowdown by Amit Gupta, Kedia Advsory
Source: Kedia Advisory
2024-01-31 09:30:40 am
India`s April-December steel imports hit five-year high as demand soars  India's steel imports touched a five-year high in the first nine months of the fiscal year to the end of March, turning the country into a net importer of finished steel, according to provisional government data seen by Reuters on Tuesday. A spurt in economic activity and a revamp of broader infrastructure have turned India into a bright spot for both Indian and global steel makers. Unlike India, steel demand is slowing down in Europe and the United States. India imported 5.6 ...
India`s April-December steel imports hit five-year high as demand soars
India`s April-December steel imports hit five-year high as demand soars
Source: Reuters
2024-01-30 04:11:34 pm
China`s Steel Renaissance: 2023 Marks a Turnaround with Stable Production and Diverse Sector Support By Amit Gupta Kedia Advisory In 2023, China's crude steel output defies a two-year downturn, holding steady at 1.02 billion metric tons. The absence of emission caps, coupled with robust demand from shipbuilding, solar, and automotive sectors, offsets property sector challenges. However, December sees a decline, attributed to maintenance and environmental pressures, hitting the lowest monthly output since 2017. Highlights Production Stabilization: China's crude steel output in 2023 was approximately 1.02 bi...
China`s Steel Renaissance: 2023 Marks a Turnaround with Stable Production and Diverse Sector Support By Amit Gupta Kedia Advisory
China`s Steel Renaissance: 2023 Marks a Turnaround with Stable Production and Diverse Sector Support By Amit Gupta Kedia Advisory
Source: Kedia Advisory
2024-01-17 12:08:16 pm
India`s steel ministry not seeking higher import taxes -government source  India's federal Ministry of Steel has no immediate plans to seek higher taxes on imported steel even though the country has become a net importer of the alloy due to rising shipments from overseas, particularly China, a senior government source said.     India's top steel producers have asked the government to impose higher taxes on imports to curb overseas supplies coming into the world's second-biggest crude steel producer.     However, ...
India`s steel ministry not seeking higher import taxes -government source
India`s steel ministry not seeking higher import taxes -government source
Source: Reuters
2024-01-10 03:08:56 pm
Core sector industries post 7.8% growth in Nov The eight core sector industries, which include coal, steel and electricity, posted a growth of 7.8 per cent in November compared to the same month last year, official data released on Friday showed. Coal production increased by 10.9 per cent in November of the same month last year, while electricity generation rose by 5.6 per cent. Steel production shot up by 9.1 per cent during the month. Fertiliser production increased by 3.4 per cent year-on-year while natural gas production went up...
Core sector industries post 7.8% growth in Nov
Core sector industries post 7.8% growth in Nov
Source: IANS
2023-12-30 10:07:23 am
Metals & Mining : Steel - margins under pressure by Kotak Institutional Equities Domestic steel prices remain under downward pressure, with prices down 6- 7% in 3QFY24. Higher Chinese export prices have now closed the import parity gap from the peak of 12% in October 2023. Raw material prices, iron ore and coking coal remain elevated on the hope of further stimulus in China and supply disruptions. We expect margins for steel companies to remain stable sequentially in 3QFY24 and under downward pressure in 4QFY24. Maintain BUY on JSPL and SELL on SAIL. Domestic steel pri...
Metals & Mining : Steel - margins under pressure by Kotak Institutional Equities
Metals & Mining : Steel - margins under pressure by Kotak Institutional Equities
Source: Kotak Institutional Equities
2023-12-16 11:57:36 am
Add Tata Steel Ltd For Target Rs.133 - Yes Securities European sorrows continue to hurt the consolidated performance Result Synopsis Tata Steel’s Q2FY24 performance was below the consensus estimates on account of provisions created by the company for the restructuring and the impairment of assets of the UK business and the resulting poor performance on the European front. During H1FY24, the company has incurred Rs 8,642 crores of capex. Work on 5 MTPA expansion at Kalinganagar and EAF mill of 0.75 MTPA in Punjab is progressing as pla...
Add Tata Steel Ltd For Target Rs.133 - Yes Securities
Add Tata Steel Ltd For Target Rs.133 - Yes Securities
Source: Yes Securities Ltd
2023-11-28 11:05:42 am