Agency reports quoted officials from some public sector steel firms as saying that domestic steel prices may recover going forward because of improving demand and rising global prices. While state-run Rashtriya Ispat Nigam (RINL) is among the few domestic firms that had effected price hikes, Steel Authority of India (SAIL) expects to raise price
Tag: Steel Authority of India
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Sales of SAIL falls 2.71% in April-Dec 2012
Data from union steel ministry reveals that sales of Steel Authority of India (SAIL) contracted 2.71 per cent during April-December 2012 to 76.03 lakh tonne from 78.15 lakh tonne in the year ago period. Similarly, sales of Vizag-based Rashtriya Ispat Nigam (RINL) also fell over 17 per cent to 17.86 lakh tonne compared to 21.63 lakh tonne reported during this perio
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SAIL-led consortium to meet Afghan officials
The Indian consortium, that won the bid to mine iron ore reserves in Hajigak near Kabul in Afghanistan over one year ago, would meet officials of mining ministry in the country in a month's time. Although the consortium bagged the mining asset over a year ago, it has not signed a mining contract with the Afghan government because of contentious
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IISCO Steel to commission five packages
IISCO Steel Plant (ISP) expects to commission at least five packages, which are part of its ongoing Rs 16,000-crore modernisation and expansion project, between January and March 2013. Instead of waiting for the completion of the entire project, the firm plans to commission all the packages which are ready. It is learnt that the above five pack
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SAIL produces 10.7 mn t hot metal in 9 months
Production of hot metal stood at 10.7 mn t for Steel Authority of India (SAIL) during April-December (2012-13), while that of crude steel was at 10.09 mn t. Its output increased 2 per cent to 9.25 million tonne (mn t) during this period, over the same period in 2011-12. During the period under review, the company said the rate of growth in the saleable steel production at par with the g
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India steel demand may grow faster than global growth
According to industry players, steel demand in India would grow faster than the demand growth across the globe during 2013 because of better economic growth in the country. According to Chandra Shekhar Verma, Chairman of Steel Authority of India (SAIL), India is a "demand centre where steel growth would rise in multiples of 1.2 of gros
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Steel price may move upward
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
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Steel price may move upward
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
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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