According to the pricing policy being followed by NMDC, the prices of various products of the mines of NMDC are kept in sync with the prevailing domestic iron ore prices in other sectors. NMDC is fixing its domestic prices keeping in view prevailing iron ore prices in other sectors and demand supply scenario for its iron ore. Union Minister of Steel, Beni
Tag: sales
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ONGC produces 5.8% less oil in FY13
According to a performance report of state-owned Oil and Natural Gas Corp (ONGC), the firm produced 5.8 per cent less crude oil at 20.485 million tonne (mn t) in 2012-13 compared to 21.76 mn t achieved in the previous year. The report, which was submitted to the union oil ministry recently, also shows that the output was also shor
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JSL may make marketing arrangement with Posco
Jindal Stainless (JSL) and South Korean steel maker Posco are planning to start jointly a marketing arrangement for a grade of stainless steel that JSL claims to have been particularly successful in commercializing. JSL would benefit from this proposed arrangement as it could access markets through the South Korean steel
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Growth in corporate sales falls sharply in Dec quarter
Growth in the sales of 2,745 non-financial private sector companies declined sharply to 9.2 per cent at Rs 7.5 lakh crore in Oct-Dec 2012 from 19.2 per cent in the year-ago period. Data released by Reserve Bank of India (RBI) on these companies shows. During Jul-Sep 2012, sales of these firms expanded 11.3 per cent. The sales growth in Oct-Dec 2012 quar
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Tata Steel posts best output, sales performance in FY13
Production of hot metal and crude steel by Tata Steel expanded 14 per cent to 8.85 million tonne (mn t) and 8.13 mn t during 2012-13, the company said in a press release. During the year, the firm achieved 14 percent growth in the output of saleable steel at 7.94 mn t. The company posted 13 per cent growth in sales at 7.48 mn t
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RINL to expand capacity by raising debt
AP Choudhary, Chairman and Managing Director of Rashtriya Ispat Nigam (RINL) said the firm plans to mop up Rs 400-500 crore through debt market in the near future. Speaking on the sidelines of a steel summit, he said the company plans to use the fund for expansion plans. But he did not disclose the timeline for the proposed fund raising plan
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Output of Tata Steel expands 27%
The aggregate saleable steel output of Tata Steel expanded 27 percent to 2.26 million tonne (mn t) in January-March 2013 from the year-ago period. The company said this in a communication to the stock exchange. The company sold 29 percent more steel in January-March 2013 at 2.28 mn t compared to 1.77 mn t
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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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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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Subdued demand, rain hit output of NMDC
Subdued demand and incessant rain affected the sale of iron ore by state-run miner NMDC. Iron ore sales of the company declined to 5.9 million tonne (mn t) in the quarter ending September 2012 compared to 7.6 mn t in the year-ago period. Similarly, in the December 2012 quarter, the firm witnessed decline in ore sales to 5.3 mn t from 6.4 mn t durin