China is frantically trying to apply the brakes to its runaway steel juggernaut. Targets are being set for capacity closures, 45 million tons nationally this year and 100-150 million tons over the next three to five years. Regional governments are heeding Beijing’s call. Yunnan province, for example, has committed to eliminate 4.5 million tons of …
China is running out of time to cure its steel problems: Andy Home Read More »
There are two sides to Tata Steel, a struggling European operation at the centre of attention since the $12-billion acquisition in 2007 and a consistently profitable Indian business that has managed to outperform not only its other half by far but also peers in the domestic market. In terms of profits, Tata Steel India has …
NEW DELHI: The government has initiated a probe into dumping of certain steel items used in automotive and construction industry from China, in order to protect the domestic industry. SAIL, Rashtriya Ispat Nigam, Usha Martin and JSW Steel have filed a petition before the DGAD for initiation of anti-dumping investigation and imposition of the taxes …
Anti-dumping duty likely on certain steel items from China Read More »
JP Morgan has re-iterated its ‘Overweight’ rating on JSW Steel with a price target of Rs 1,500 in a note to investors citing possibility of marked improvement in FY17 EBITDA/tonne for large domestic players due to upward momentum in domestic steel prices and declining pressure from imports. “As such, JSW is well poised to see …
Positive on JSW Steel as prices firm up, imports abate: JPMorgan Read More »
Fresh concerns have emerged over the future of Tata Steel’s UK assets, which include the huge Port Talbot works. It is understood that the Indian owners of the plant fear that the current UK political uncertainty could derail efforts linked to the planned sale. Concerns centre on proposed changes to the pension scheme which are …
Tata Steel fears that UK political situation may derail sale Read More »
Whatever else Brexit has done for the social, economic and cultural future of the United Kingdom, it’s excellent fuel for imagining hellish dystopias. The weekend was a time for panicked mourning. Monday is a time for making plans. And so I present to you: towers made of bone. According to researchers at the University of …
Forget concrete and steel — future cities will be made from bone Read More »
PUNE: Riding high on increasing demand for pre-coated steel in domestic as well as international markets, Essar Steel Pune Facility (ESPF) is eyeing a 43 per cent jump in turnover to Rs 3,000 crore in the ongoing fiscal. The unit is located at Sanaswadi, Maharashtra. “We are looking at achieving a turnover of Rs 3,000 …
Essar Steel Pune unit eyes Rs 3,000 crore turnover in FY17 Read More »
NEW DELHI: JSW Steel has received the environmental clearance for setting up an integrated steel unit and captive power plant in Jharkhand with an investment of Rs 35,000 crore. The project would create up to 30,000 additional indirect jobs. As per the proposal, the company will set up a 10 million tonnes per annum (MTPA) …
JSW Steel gets green nod for Rs 35,000 crore Jharkhand plant Read More »