Pricing power of steel companies is constrained because of weak demand for the metal, Nomura India said in its latest research report. Against an expected demand growth of 4.5-5.0 percent, consumption of steel grew a mere 3.3 percent year-on-year (y-o-y) to 73.3 million tonne (mn t) in 2012
Tag: demand
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Cement firms bet big on govt projects ahead of election
Some industry players and analysts feel that demand for cement may rise in the coming months as government expedite key construction projects ahead of Lok Sabha election. VP Sharma, Chief Operating Officer of Dalmia Cement said the oversupply situation still persists but since elections are next year, a slew of measures by the government may turn
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Weak demand hits sales revenue of RINL
Owing to weak demand for steel during large part of 2012-13, Rashtriya Ispat Nigam (RINL) posted 5.8 per cent decline in sales revenue at Rs 13,650 crore during the year compared to Rs 14,450 crore in the previous year. But the firm managed to post 45 per cent growth in export revenue at Rs 601 crore and 15 per cent increase in rural sales during the previous fiscal year
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Tamil Nadu needs 2 LNG import terminals
The Tamil Nadu government estimated that it needs two liquefied natural gas (LNG) import terminals of 5 million tonne each, including the proposed Ennore LNG terminal to meet gas demand. The state government plans to use LNG in order to reduce its dependence on coal-based power projects and help address its energy security.
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NMDC trims price of lumps for 5th time since Oct
Iron ore mining firm NMDC reduced price of higher grade iron ore (lumps) for the fifth time since last October. This time, the state-run miner cut the price of lumps (having iron content of 62 per cent or above) by about 7 per cent for April. However, the company has not changed the price of iron ore fines (lower grade) for the second month in succession
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Rising cost may prompt steel firms to hike price
Rise in coking coal prices and the increase in rail freight tariff may prompt steel makers in the country to hike prices of flat and long steel products, reports indicate. The transportation cost for the steel makers rose by Rs 60 per tonne because of the hike in rail freight from this mont
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Supply may outstrip demand in medium term
Media reports indicate that although the global demand and supply for crude oil and natural gas is in balance, in the medium term supply may outstrip demand. In the short-run, higher production from shale in North America is being offset by substantial outages elsewhere, principally as a result of sanctions on
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Minister wants India to attain self-sufficiency in fuel by 2030
Union Petroleum Minister Veerappa Moily informed that his vision is to make India self-sufficient in the consumption of petroleum products by 2030. He said there is a need to have patience to research the country's oil reserves. He said this to reporters after laying foundation stone for the transport hub of HPCL in Mangalore. The transport hub facility by HPCL in Mangalore is spread
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EIA report says India is 4th largest energy consumer
In its latest report on energy outlook for India, the US Energy Information Administration (EIA) said India is the fourth largest energy consumer in the world after the United States, China, and Russia. But the per capita energy consumption of India remains lower than that of developed countries, says the repo
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CCI sends order to fuel retailers
Ashok Chawla, Chairman of the Competition Commission of India (CCI) informed reporters that the panel was in the process of sending fuel retailers an order related to a probe on the alleged cartelisation on petrol pricing. Chawla informed this on the sidelines of a seminar organised by industry body Assocham. The CCI, which is emp