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Articles for Steelmakers

Bruised by rising imports, steelmakers pin New Year hopes on safeguard duty
2 weeks, 3 days ago

Bruised by rising imports, steelmakers pin New Year hopes on safeguard duty

Live Mint  

Mumbai: The commerce ministry's investigation into imports of flat steel products and a likely safeguard duty to curb their shipments have sparked optimism of a turnaround for Indian steelmakers after a tepid year marred by slipping sales price and shrinking margins. A safeguard duty, which is a temporary measure to protect the domestic industry from cheap imports, could finally arrest …

Duty Domestic Imports 2025 Chinese Bigmint Steel Prices
JSW Group explores expansion into copper, aluminium, has engaged consultants, says top executive
4 weeks, 2 days ago

JSW Group explores expansion into copper, aluminium, has engaged consultants, says top executive

Live Mint  

The JSW Group, which has the largest steelmaking capacity in India, is exploring entry into making other metals, including copper and aluminium, JSW Steel chief executive officer Jayant Acharya said. JSW Steel, along with Aditya Birla Group’s Hindalco, was in contention to acquire two copper mines in Jharkhand owned by public sector firm Hindustan Copper, PTI reported in October citing …

India Indian Steel Company Imports Pti Capex
Chinese overcapacity is crushing the global steel industry
1 month, 3 weeks ago

Chinese overcapacity is crushing the global steel industry

Live Mint  

Each year China makes as much steel as the rest of the world combined. Last month Nippon Steel, Japan’s biggest steelmaker, called on the government to impose anti-dumping duties on Chinese imports. View Full Image The rich world has experienced surges in Chinese steel exports before, including in 2008 and 2015. Even in America, where hefty tariffs already keep out …

Global India China World Exports Steel Industry Its Steelmakers
Steelmakers warn of Q3 revenue drop, pin hopes on Q4 rebound
1 month, 3 weeks ago

Steelmakers warn of Q3 revenue drop, pin hopes on Q4 rebound

Live Mint  

For India's steelmakers facing the lowest prices in the last four years, things may get worse before they get better. In September, benchmark hot-rolled coil prices fell to an average of ₹48,029 per tonne, slipping below the ₹50,000-per-tonne-mark for the first time since November 2020, according to data from BigMint, a market intelligence firm. Consequently, Narendran expects Tata Steel’s average …

India China Indian Prices Steel Demand Average
Steel Stocks Are Back in Vogue as Trump Victory Buoys Outlook
2 months ago

Steel Stocks Are Back in Vogue as Trump Victory Buoys Outlook

Live Mint  

A surge in American steel stocks just hours after former President Donald Trump secured a second term signals investors are betting his victory is bullish for the industry. The S&P steel sub-industry index that includes United States Steel Corp., Nucor Corp., Cleveland-Cliffs Inc., Steel Dynamics Inc. and 11 other companies jumped as much as 14%, the most in more than …

Trump Steel Gibbs Buoys Outlook
Lured by discounts, Indian steelmakers lap up Russian coking coal
3 months, 4 weeks ago

Lured by discounts, Indian steelmakers lap up Russian coking coal

Live Mint  

NEW DELHI: India's purchases of coking coal - essential for steel production - from Russia have surged in recent months, as the sanctions-hit country sells the ingredient at a significant discount to other large suppliers. Read this | India to import Russian coking coal via Iran's Chabahar port {{^adFree}} {{/adFree}} A trade source said, requesting anonymity, that the largest buyers …

Russia Coal Imports Million Adfree Russian Tonnes
Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets
4 months, 4 weeks ago

Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets

Hindustan Times  

By Neha Arora Indian steelmakers' body seeks export tariff on low-grade iron ore, pellets NEW DELHI, - India's leading steelmakers' body wants the government to impose an export tax on low-grade iron ore and pellets to address local shortages, according to a letter by the Indian Steel Association, which was seen by Reuters. India currently does not tax exports of …

Tax Indian Reuters Iron Isa Pellets Ore
India lucrative for steelmakers because of higher infra spending, economic growth
6 months, 2 weeks ago

India lucrative for steelmakers because of higher infra spending, economic growth

Hindustan Times  

Despite a slowdown in exports and increasing Chinese steel output impacting India's share in the markets, steel makers in the country are optimistic about the domestic demand. The case with steel exports Indian exports have been affected by a variety of reasons in the recent past including low production due to scheduled maintenance shutdowns, preference for the domestic market over …

India Market Indian Domestic Steel Consumption Exports
A billion-dollar coal deal in JSW Steel's sights
10 months, 3 weeks ago

A billion-dollar coal deal in JSW Steel's sights

Live Mint  

Mumbai: JSW Steel Ltd is in talks with Australia’s Whitehaven Coal to buy a 20% stake in its Blackwater mine for around $1 billion, two people aware of the matter said. JSW Steel’s talks with Whitehaven follow its failed bid to acquire a majority stake in the metallurgical coal business of Canada’s Teck Resources in 2023, which was snapped up …

India Coal Steel Whitehaven Jsw Steel Jsw
US Steel, once a symbol of America’s economic might, is now for sale in the bargain bin
1 year, 4 months ago

US Steel, once a symbol of America’s economic might, is now for sale in the bargain bin

CNN  

New York CNN — The days may be numbered for US Steel Corp., a one-time backbone of the nation’s economy. US Steel’s possible end underscores the shift in the nation’s economy away from manufacturing, a change that continues to have deep economic and political implications today. The first steel beams for the United Nations Building are loaded at the Homestead …

Europe War World Companies Steel Company Pittsburgh
Indian steelmakers face hit on Europe deals over export tax: JSPL
2 years, 7 months ago

Indian steelmakers face hit on Europe deals over export tax: JSPL

Live Mint  

Indian steel firms could be forced to cancel European orders and suffer losses after an overnight decision to impose export taxes on steel products, V R Sharma, managing director at Jindal Steel and Power told Reuters. India imposed an export tax of 15% on eight steel products late on Saturday, at a time steelmakers are looking to make up for …

India Europe Tax Indian Steel Sharma Export
Steelmakers To Reduce Debt By Rs 35,000 Crore In FY2021 And 2022
3 years, 9 months ago

Steelmakers To Reduce Debt By Rs 35,000 Crore In FY2021 And 2022

ABP News  

Primary steel producers are expected to reduce debt by 15%, or Rs 35,000 crore, between fiscals 2021 and 2022, using the higher operating profits generated for prepayment. The steelmakers include Jindal Steel & Power Ltd, Tata Steel Ltd, JSW Steel Ltd, Steel Authority of India Ltd, and Arcelor Mittal Nippon Steel India Ltd Domestic demand recovered strongly in the second …

Prices Steel Demand Crore Fiscal Capex Domestic Demand
Why American steel stocks plummeted in the past year, despite tariffs
5 years, 7 months ago

Why American steel stocks plummeted in the past year, despite tariffs

CNN  

New York CNN Business — A year’s worth of tariffs have given a shot in the arm to the US steel industry — but not for their shareholders. Production from domestic steel mills rose by 1 million tons in the first quarter of this year compared to the same period last year, before the tariffs took effect, according to the …

Stocks American Capacity Tariffs Ubs Us Steel Nue
Defunct steelmaker’s 21-story headquarters imploded
5 years, 7 months ago

Defunct steelmaker’s 21-story headquarters imploded

Associated Press  

BETHLEHEM, Pa. — Sixteen thousand tons of Bethlehem Steel collapsed in a matter of seconds Sunday as a demolition crew imploded Martin Tower, the defunct steelmaker’s former world headquarters. Tyler Kent, whose father worked at Bethlehem Steel for 46 years and raised 11 children, said his “heart stopped” as he watched the building fall. Leonard Gentilcore, 88, a retired Bethlehem …

Building Steel Tower Martin Bethlehem Bethlehem Steel Martin Tower
India shifts to net steel importer in 2018-19 fiscal
5 years, 8 months ago

India shifts to net steel importer in 2018-19 fiscal

The Hindu  

India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher quality steel domestically. The country’s finished steel exports fell by 34% in the fiscal year that ended in March to 6.36 million tonnes, according …

India Steel Imports
Help end dispute with mine owners: Steelmakers to Karnataka CM
6 years ago

Help end dispute with mine owners: Steelmakers to Karnataka CM

Deccan Chronicle  

Ballari: With the standoff continuing between steel plant owners and iron ore producers over the rising cost of ore, small and medium steelmakers have turned to CM H.D Kumaraswamy for help in sorting out the dispute. Steel plant owners say they have no choice but to run their units despite the rising iron ore prices. Meanwhile, Mr Kumaraswamy is reported …

Steel Ore