Steel companies in India expect steel prices to rise in local market in line with global market because of spike in raw material cost. It may be mentioned that Indian steel prices are aligned to international prices. According to CS Verma, Chairman of Steel Authority of India (SAIL), benchmark global prices of hot rolled coils (HRC) have risen $10 per tonne in the last one month.
Raw material prices are also climbing. From recent lows, iron
Category: Materials
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Steel price may move upward
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Steel demand may grow 5.5% in 2012
According to a recent study by World Steel Association (WSA), IndiaÂ’s steel demand growth may decline to 5.5 per cent in 2012 and five per cent in 2013 owing to unfavourable domestic and economic conditions. Earlier, the association projected 7.9 per cent growth in demand for 2012. The study also shows that growth in crude steel prod
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Steel demand may grow 5.5% in 2012
According to a recent study by World Steel Association (WSA), IndiaÂ’s steel demand growth may decline to 5.5 per cent in 2012 and five per cent in 2013 owing to unfavourable domestic and economic conditions. Earlier, the association projected 7.9 per cent growth in demand for 2012. The study also shows that growth in crude steel prod
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Expanding horizons
Tata BlueScope Building Products launched Rajasthan’s first and India’s eighth ‘LYSAGHT® Solution Center’. The company appointed Sunrise Engineers as an authorised LYSAGHT Solution Center in Neemrana, Rajasthan.LYSAGHT® Solution Center is an initiative towards the company’s sustained efforts to expand its reach to meet growing customer needs for the LYSAGHT® products across India
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Iron ore issue hits steel firms
Steel makers in the country are complaining about lack of sufficient supply of iron ore, the key raw material for steel production, and also the increase in price by NMDC. Media reports suggest that steel firms are reducing their scale of operation and hence their capacity utilisation has declined because of shortage of iron ore. These firms
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Steel Exchange commissions 50 mw plant
In a communication to stock exchange, Steel Exchange India has commissioned a 50 mw boiler and turbines at its Captive Power Plant at Kothavalasa in Andhra Pradesh. This is part of the 60 mw captive power plant being set up by Simhadri Power, a special purpose vehicle (SPV) prom
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Coke oven battery of Tata Steel goes on stream
As part of its ambitious 9.7 million tonne per annum expansion project in its Jamshedpur facility, Tata Steel commissioned a new coke oven battery No 10 and by-product
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Minister calls for innovation among steel firms
In order to cater to the varied demands of market and also to raise sales, Union Steel Minister Beni Prasad Verma asked steel companies to innovate and manufacture products that can be used in households. The minister said this after inaugurating the steel pavilion at the India International Trade Fare (IITF) 2012. This year’s theme for the pavilion was ‘Skilling India’ which depic
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ESL to tie up Rs 23 bn loan for steel project
For the purpose of long-term project funding, Electrosteel Steels (ESL) plans to raise Rs 2,300 crore through a debt syndication with a consortium of bankers led by State Bank of India (SBI) for its Bokaro steel project. The arm of Electrosteel Castings is in the process of implementing a 2.51 million tonne per annum (mn tpa) integ
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NMCC asked to probe import from China
Following complaints from industry players, the Standard Board of Safeguards asked National Manufacturing Competitiveness Council (NMCC) to study the impact of import of raw materials for stainless steel products from China. NMCC is asked to study the impact of such imports on the competitiveness of the user industry of the product under consideration. The Board has also sought clarifi