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Steel industry News

05 Feb 2024

Kairavi Mehta: Pioneering a ₹1500 Cr Steel Empire with a Vision

Mehta's strategic foresight and problem-solving acumen have earned her a spot in BW Business World's 30 Under 30.

JTL Industries Ltd

30 Jul 2023

JTL Industries Q1 Net Profit More Than Doubles To Rs 25 Cr

The company also exports its products to various offshore markets.

Production linked incentives

22 May 2022

Centre receives 10 applications for PLI Scheme for specialty steel

Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI scheme. The official said "the ministry is yet to come out with the modified scheme."

22 May 2022

Govt hikes export duty on iron ore, waives import tax on some raw materials

The duty on coke and semi-coke has been slashed from 5 per cent to 'nil'. The tax on the export of iron ores and concentrates has been hiked to 50 per cent. On iron pellets, a 45 per cent duty has been imposed.

American Precoat Specialty

11 Dec 2021

American Precoat opens automotive-grade Electro Galvanized steel plant

The plant is developing and manufacturing automotive-grade EG Steel. With a focus on the principle of 'Vocal for Local,' American Precoat ensures that the market's need for automotive-grade EG Steel will be addressed.

22 Dec 2020

India, Japan come up with mechanism for cooperation in steel industry

India, Japan have devised a mechanism for cooperation in the steel industry. Both sides signed a Memorandum of Cooperation to herald the cooperation. India and Japan have been increasing cooperation in many areas.

09 Mar 2018

China, Japan, South Korea bristle over US steel, aluminium tariffs

Trade tensions between China and United States have risen since Trump took office.

01 Jul 2017

GST: Steel sector to witness more organised form of business

Another industry body Indian Stainless Steel Development Association (ISSDA) said this is a transition period for the industry.

01 Feb 2017

Union Budget 2017: Jaitley gives major relief to the steel industry; waives basic custom duty on nickel

The government has waived basic custom duty on nickel -- a key steel making raw material -- in a major relief to the steel industry which is facing tough times.

Budget 2017 wishlist

10 Jan 2017

Hike import duty on flat products: Stainless steel industry

Stainless steel industry body Indian Stainless Steel Development Association (ISSDA) has demanded a hike in import duty on stainless steel flat products and abolition of import duty on key raw materials, including ferro nickel.

05 Sep 2016

STEELIMPORTS:Govt may not extend MIP on steel products beyond Oct 4

New Delhi:Government is unlikely to further extend the minimum import price (MIP) on certain steel products beyond October 4 as these items could be covered under anti-dumping duty, an official today said.

01 Aug 2016

Steel industry owes Rs 3,00,000 crore to banks

The steel industry has outstanding loans of around Rs three lakh crore in various banks, thus making the sector one of the largest contributors to non-performing assets (NPA) in the country.

03 May 2016

'Mines Act amendments may spur M&As in cement, steel sectors'

Amendments to the Mines and Minerals (Development and Regulation) Act are expected to streamline the consolidation process in cement and steel industry and clear the way for large merger and acquisition deals, a report said.

Steel production

15 Apr 2016

Not just China: Japan, South Korea push cheap steel as world reels

As the world reels from a flood of cheap Chinese steel, other countries including Japan and South Korea are selling products overseas at prices as much as a third lower than in their home markets, according to industry data and officials.

05 Apr 2016

ArcelorMittal raises $3 billion via rights issue

Steel giant ArcelorMittal said it has successfully completed a USD 3 billion rights issue, proceeds of which will be utilised to pare debt.

30 Mar 2016

Tata Steel puts UK biz on block; Govt, unions hunt for options

Tata Steel has put its entire UK business on the block, putting thousands of jobs at risk amid a deepening crisis in the country's once-storied sector that the Indian conglomerate had entered nearly a decade ago with a USD 14-billion takeover with much fanfare.

15 Jun 2015

ArcelorMittal-SAIL plant project report to be ready by August

According to a source, the plant size could be up to 1.5 million tonnes (MT) and the investment may be in the range of USD 850 million (about Rs 5,000 crore).

Bhushan Steel Shares

05 Jun 2015

Bhushan Steel shares soar 20% on bourses

The stock zoomed 19.92 percent to Rs 60.50, its highest trading permissible limit for the day on the BSE.

15 Apr 2015

Cut iron-ore prices by 25%: Assocham to centre

To help domestic steel industry become competitive, the government needs to bring down iron ore prices by 25 percent, industry body Assocham said on Wednesday.

16 Mar 2015

No dearth of iron ore in country: Govt

With 152 million tonne production against consumption of 111 MT in 2013-14, there is no dearth of iron ore in the country, the government Monday informed Parliament.

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