No plans to relocate Orissa steel plant: PoscoAugust 19th, 2009 BHUBANESWAR - South Korean steel major Posco Wednesday dismissed reports that its proposed steel plant in Orissa is being relocated to another site. "It is a baseless report.
Brazil steel production rose 28 percent in JulyAugust 15th, 2009 RIO DE JANEIRO - Brazil's steel production increased by 28.5 percent last month compared with June, the Iron and Steel Institute said. Brazil is the biggest producer and exporter of steel in Latin America and the world's 15th-largest steel exporter.
Industry group says world steel output fell 21 percent in first 6 months of 2009July 20th, 2009 World steel output down 21 pct in first 6 monthsBRUSSELS — World steel output plunged 21.3 percent in the first six months of 2009 from a year ago, the main steel industry group said Monday. Chinese and Indian steel makers were the only major producers to increase output in the first half, the World Steel Association said.
ArcelorMittal faces labour trouble in CanadaJuly 13th, 2009 TORONTO - Labour trouble is brewing at ArcelorMittal Dofasco, the Canadian subsidiary of the global steel giant, with its slag-recycling workers on the warpath over contract terms. The steelworkers at the company's plant at Hamilton near Toronto are employed by MultiServ, a Pennsylvania-based US company, which has a slag-recycling contract with ArcelorMittal Dofasco.
India's steel output to touch 124 mt by 2011-12: MinisterJuly 11th, 2009 BHILAI - India's steel production will surge to 124 million tonnes (MT) per annum by 2011-12 from the current figure of 65 mt, Steel Minister Virbhadra Singh said here Saturday. "There is a massive expansion going on in the steel sector in country, both in the public and private sectors, that will see India becoming a major steel producer by 2011-12 when its steel production will be 124 mt from the present production of 65 mt," the minister said at a press conference here.
Steel plants to soon get iron ore mining licensesJuly 8th, 2009 NEW DELHI - India will speed up the process of granting iron ore mining licenses to various steel companies, including South Korea's Posco, Steel Minister Virbhadra Singh said here Wednesday. "We are planning to almost double the production of steel and for that we have to speed up greenfield projects," Singh told reporters on the sidelines of a steel conference.
Industry calls for more customs duty on steelJune 28th, 2009 NEW DELHI - A leading industry body has called for increasing customs duty on steel from 5 percent to 10 percent as consumption of local steel by domestic users was falling. According to the Federation of Indian Chamber of Commerce and Industry (Ficci), imported steel accounted for over 11 percent share of consumption, as compared to 6 percent a few years ago.
Sajjan Jindal wins international steel industry awardJune 25th, 2009 MUMBAI - JSW Steel vice chairman and managing director Sajjan Jindal has been conferred the Willy Korf/Ken Iverson Steel Vision Award for his contribution to the steel industry, the company said in a statement Thursday. Jindal is the second Indian to receive the honour.
Government again warns against steel price hikeJune 11th, 2009 MUMBAI - Any hike in steel prices is unjustifiable as the cost of iron ore and coking coal have come down since last year, Steel Secretary P.K. Rastogi said here Thursday.
India's Tata Steel downgraded amid burden of foreign acquisitionsJune 8th, 2009 Tata Steel downgraded on weakness of UK unitMUMBAI, India — Moody's downgraded the company rating of India's Tata Steel Ltd on Monday because of weak performance at its U.K. Corus unit — sign of how troublesome Tata's ambitious overseas acquisitions have become since the global financial crisis hit.
Three state-run banks to set up joint Malaysian subsidiaryJune 4th, 2009 MUMBAI - Bank of Baroda, Indian Overseas Bank and Andhra Bank will set up a joint subsidiary in Malaysia, it was announced Thursday. "The subsidiary is proposed to be named as India BIA Bank (Malaysia) Bhd," Bank of Baroda said in a regulatory statement.
New steel minister to stop dumping of steel in IndiaJune 3rd, 2009 NEW DELHI - Minister of State for Steel A. Sai Prathap today said that demand of steel producers for measures to curb the threat of cheap steel imports and dumping must be immediately addressed.
Ternium SA to turn over majority stake in steel maker Sidor to Venezuela for $1.97 billionMay 8th, 2009 Venezuela to pay Ternium $1.97 billion for SidorCARACAS, Venezuela — Ternium SA has agreed to sell its 59.7 percent share in steel maker Sidor to Venezuela for $1.97 billion. The subsidiary of the Argentine-Italian conglomerate Techint has been locked in negotiations over a payment plan with Venezuelan authorities since last year.
Tata Steel puts fresh acquisition on holdFebruary 12th, 2009 KOLKATA - Steel major Tata Steel will not focus on any acquisition 'for the time being', a top company official said here Friday. 'We will go slow on acquisition plans.
Bhilai Steel posts best-ever April-December performanceJanuary 1st, 2009 RAIPUR - Bhilai Steel Plant concluded April-December with the best-ever performance as its production touched 4.04 million tonnes (MT) of hot metal, 3.87 MT of crude steel and 3.31 MT of saleable steel, a company official said Friday. The plant, located some 30 km west of Chhattisgarh's capital Raipur, is the flagship unit of the state-owned Steel Authority of India (SAIL).
Loading ...