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Budget 2021

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Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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  • Steel companies engage with vaccine makers for bulk supply of doses for employees Jan 18, 2021 02:41 PM IST

    Steel companies engage with vaccine makers for bulk supply of doses for employees

    The first COVID-19 vaccine shots in India were given on Saturday to nearly two lakh frontline healthcare and sanitary workers as Prime Minister Narendra Modi rolled out the world's largest inoculation drive against the pandemic that has caused 1,52,093 deaths and upended millions of lives in the country.

  • What to make of the steel sector rebound Jan 14, 2021 04:54 PM IST

    What to make of the steel sector rebound

  • FIMI urges Centre to withdraw protective support provided to domestic steel players Jan 03, 2021 04:51 PM IST

    FIMI urges Centre to withdraw protective support provided to domestic steel players

    Union Transport and MSME Minister Nitin Gadkari last month said that he had sought Prime Minister Narendra Modi's attention towards 55 percent hike in steel prices by players during the past six months, making projects unviable.

  • Steelmakers write to PMO defending price hike, demand iron ore export ban Dec 29, 2020 05:56 PM IST

    Steelmakers write to PMO defending price hike, demand iron ore export ban

    Hot-rolled coil prices have increased by 46 percent to Rs 52,000 per tonne in November as compared to Rs 37,400 per tonne in July this year. Rebar TMT, which is used in the housing and construction sectors, had touched Rs 50,000 a tonne, industry sources said.

  • Economic recovery, demand revival spark 2021 hopes for steel sector Dec 23, 2020 05:50 PM IST

    Economic recovery, demand revival spark 2021 hopes for steel sector

    The Indian steel industry grappled with tough times in running their operations as well as witnessed a sharp plunge in demand for steel soon after the coronavirus pandemic and subsequent lockdowns disrupted overall economic activities.

  • Nitin Gadkari cautions steel makers against profiteering; says projects getting unviable, writes to PM Modi Dec 21, 2020 07:40 PM IST

    Nitin Gadkari cautions steel makers against profiteering; says projects getting unviable, writes to PM Modi

    Addressing the Assocham Foundation Week on 'national infrastructure pipeline critical for economic revival across sectors', Nitin Gadkari also said a GPS system for tolling is on the anvil in which toll payments will be deducted automatically on the distance traversed.

  • ICRA upgrades outlook for Indian steel sector to stable Dec 14, 2020 09:32 PM IST

    ICRA upgrades outlook for Indian steel sector to stable

    The momentum has strengthened further in December quarter. The cumulative domestic steel demand in October-November has already surpassed the pre-COVID-19 levels, ICRA said.

  • Deeply concerned over steel price rise due to COVID-19: Engineering Export Promotion Council of India Nov 19, 2020 01:27 PM IST

    Deeply concerned over steel price rise due to COVID-19: Engineering Export Promotion Council of India

    India's engineering exports have declined by 14 percent in April-October 2020-21 period, the Engineering Export Promotion Council of India (EEPC India) said on Wednesday.

  • SAIL's October sales up 21% to 1.34 million tonnes Nov 04, 2020 08:47 PM IST

    SAIL's October sales up 21% to 1.34 million tonnes

    "The crude steel production and the saleable steel production also grew substantially by 14 percent and stood at 1.446 MT and 1.347 MT, respectively, during the month over CPLY," SAIL said.

  • China bought nearly 30% of Indian steel exports in April-September: Data Oct 28, 2020 07:45 PM IST

    China bought nearly 30% of Indian steel exports in April-September: Data

    China bought 1.9 million tonnes (MT), cornering 29 percent of India's finished steel exports, which hit their highest in at least six years at 6.5MT, the provisional data analysed by Reuters showed.

  • Steel makers can claim duty drawback on supplies through distributors, dealers: DGFT Oct 01, 2020 08:20 PM IST

    Steel makers can claim duty drawback on supplies through distributors, dealers: DGFT

    "Steel manufacturers can also claim duty drawback on steel supplied through their service centres/distributors/dealers/stock yards," according to the notification of the Directorate General of Foreign Trade (DGFT).

  • Indian steelmakers turn net exporters to China in April-August: CRISIL Sep 21, 2020 05:35 PM IST

    Indian steelmakers turn net exporters to China in April-August: CRISIL

    With 69 percent of semi-finished steel and 28 percent of finished steel heading there between April and August, India turned net exporter of steel to China for the first time in several years, the rating agency said.

  • COVID-19 impact: Weak property demand to cause over 15% dip in cement consumption Sep 16, 2020 05:41 PM IST

    COVID-19 impact: Weak property demand to cause over 15% dip in cement consumption

    Fitch expects luxury real estate to see the greatest price moderation but limited price moderation in affordable housing, given the segment’s better demand dynamics and thinner profit margins

  • Govt prepares draft framework policy for development of steel clusters in India Sep 14, 2020 03:41 PM IST

    Govt prepares draft framework policy for development of steel clusters in India

    The draft framework policy aims at facilitating setting up of greenfield steel clusters along with development and expansion of existing steel clusters, Pradhan said while replying to a question in Lok Sabha.

  • Need to introduce mechanism to monitor, regulate steel prices: FIMI Aug 31, 2020 05:15 PM IST

    Need to introduce mechanism to monitor, regulate steel prices: FIMI

    According to the Federation of Indian Mineral Industries (FIMI), the hike in the prices of steel is leading to "windfall gains by few steel players" at the cost of the entire Indian economy, including upstream mining industry and downstream user industries.

  • China ploughs a lone furrow in steel Aug 28, 2020 11:11 AM IST

    China ploughs a lone furrow in steel

    China’s steel output continues to outperform other countries. While other steel producers may benefit in the near term, the long term may play out differently.

  • India's crude steel output falls over 24% in July, global production shrinks 2.5%: World Steel Association Aug 25, 2020 03:25 PM IST

    India's crude steel output falls over 24% in July, global production shrinks 2.5%: World Steel Association

    The country had produced 9.485MT crude steel during the same month in 2019, World Steel Association (worldsteel) said in its latest report.

  • RINL, POSCO to form joint working group for Andhra Pradesh steel project Aug 23, 2020 04:01 PM IST

    RINL, POSCO to form joint working group for Andhra Pradesh steel project

    The South Korean steel major and state-owned RINL have been in talks for quite some time over their plans to set up a joint venture (JV) for manufacturing value-added special grade of steel.

  • Iron ore prices on fire but steel companies may be cool with it Aug 12, 2020 01:13 PM IST

    Iron ore prices on fire but steel companies may be cool with it

    Iron ore prices seem unstoppable having crossed $120/tonne driven by China’s appetite for steel. What that means for India’s steel companies and for one mining company.

  • DGTR recommends CVD on certain steel product imports from Indonesia Aug 09, 2020 07:20 PM IST

    DGTR recommends CVD on certain steel product imports from Indonesia

    The domestic industry has suffered material injury due to subsidisation of the product and therefore it is necessary to recommend imposition of provisional countervailing duty on these imports, the DGTR has said in a notification.

  • SAIL's July sales up 50% to 15.83 lakh tonnes Aug 04, 2020 05:15 PM IST

    SAIL's July sales up 50% to 15.83 lakh tonnes

    The company had registered sale of 10.59 LT steel during the same month last year, Steel Authority of India Ltd (SAIL) said in a statement.

  • Indian steel consumption to decline due to COVID-19 disruption: Report Jul 29, 2020 02:25 PM IST

    Indian steel consumption to decline due to COVID-19 disruption: Report

    According to Moody's Investors Service, in India, new capacity additions will take a back seat as weak steel consumption will hurt free-cash-flow generation in the current year.

  • While steel output drops sharply, investors keep their eyes on the road ahead Jul 14, 2020 12:31 PM IST

    While steel output drops sharply, investors keep their eyes on the road ahead

    The effects of the pandemic have led to a sharp decline in steel output in the June quarter but investors are hoping the worst is over

  • Govt assures measures to reduce logistics cost for steel players Jul 01, 2020 04:12 PM IST

    Govt assures measures to reduce logistics cost for steel players

    Kulaste sought suggestions from the stakeholders on how to reduce the logistics cost of raw materials and assured them that the ministry will take steps accordingly.

  • FinMin requested to impose Border Adjustment Tax, says Dharmendra Pradhan Jun 30, 2020 08:00 PM IST

    FinMin requested to impose Border Adjustment Tax, says Dharmendra Pradhan

    The proposed BAT would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally-made products.

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