Metal stocks in India are feeling unloved by investors, with one exception: the country’s top steelmaker JSW Steel Ltd. While demand for metals has been accelerating as the South Asian nation plans major investments to overhaul its
A surge in imports from China and countries with which India has signed free trade agreements (FTAs) is heaping misery on the domestic stainless steel manufacturers, prompting them to seek more permanent measures to stem inflows.
India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after US President Donald Trump slapped an import duty on the alloy earlier this year.
Last week, we had envisaged a strong IIP growth in June’18 based on a robust growth achieved by the eight core sectors (crude oil, refinery products, coal, cement, steel, fertiliser, electricity, natural gas) which have a combined weight of 40.2% in IIP released earlier in the month.
India’s Industrial output grew by 7 percent in June driven by a pick up in capital goods manufacturing, official data showed on Friday.
A top official from the US Trade Representative has said the recent retaliatory measure by India against America’s decision to impose import tariff on steel and aluminum was not “appropriate”.
Government-owned Steel Authority of India’s (SAIL’s) reluctance to join a non-exit 30-year contract has delayed its joint venture with ArcelorMittal for specialised steel.
Indian primary steel producers have extended their product prices for July, despite state-owned NMDC cutting iron ore prices by Rs 300 a tonne in Karnataka (where a lot of the country’s steel is made).
Varanasi, Hinduism’s holiest site on the Ganges River in northern India, is one of 100 places earmarked to receive trillions of rupees to transform their aging infrastructure and become ‘ Smart Cities,’ replete with affordable housing, improved sanitation, and better transportation. To build it all, India plans to triple its steel-making capacity, making it the world’s second-biggest producer, trumping Japan, and reviving an industry that a year ago was on its knees.
“India is one of the bright spots for the global steel industry,” said Bijoy Thomas, a senior analyst at India Ratings & Research, the local unit of Fitch Ratings, by phone from New Delhi. “We have a very low base of per-capita consumption and the nation is on the path to development.” India used about 63 kilograms of steel per person last year, compared with 493 kilograms in China, according to the World Steel Association. That low consumption base, and the promise of a government-backed boom in construction, has prompted a flurry of expansion plans as steel prices recover from a slump in 2015.
It is a matter of great satisfaction that National Steel Policy 2017 prepared by steel ministry has been approved by the government for implementation.