AK Steel to raise prices by $40 to $60 per tonSeptember 1st, 2009 AK Steel to raise pricesWEST CHESTER, Ohio — AK Steel said Tuesday it will raise prices for all new steel orders. The West Chester-based steel maker said base prices will increase by $40 per ton hot-rolled products, $50 per ton for cold-rolled products and $60 per ton for coated products.
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.
Steel Ministry identifies two PSUs for disinvestmentAugust 7th, 2009 NEW DELHI - Steel Ministry has identified two Public Sector Units (PSUs) for disinvestment, and is going to send its recommendations to the cabinet later this month, Union Steel Minister Virbhadra Singh said on Friday. "We have identified two steel PSU's for disinvestment.
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.
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.
Helping steel majors set up units top priority: Virbhadra SinghJune 28th, 2009 SHIMLA - The priority of his ministry would be to help steel majors set up their stalled projects, Steel Minister Virbhadra Singh said here Sunday. "The priority of our government is to enable steel majors like Mittal Steel, Essar Steel, the Jindal group and Posco set up their units in the country," Singh told IANS in an informal interaction at his residence.
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.
Modernisation of steel plants top priority: MinisterJune 12th, 2009 SHIMLA - Expansion and modernisation of state-run steel plants to double their output are among the top priorities of the government, Steel Minister Virbhadra Singh said here Friday. "Our main priority is to expand and modernise the state-run steel plants so that their capacity would be doubled," he told reporters here.
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.
Steel minister okay with divestment, has identified unitsJune 10th, 2009 NEW DELHI - Steel Minister Virbhadra Singh Wednesday pushed for divestment of stake in companies under his ministry and said he would take up the issue of adequate supplies of feedstock for steel units with the states concerned. "If the policy of disinvestment is approved, we have some companies on our mind, Singh told reporters while presenting his ministry's agenda for the next 100 days.
Increasing steel output top priority: Virbhadra SinghMay 29th, 2009 NEW DELHI - Steel Minister Virbhadra Singh Friday said ensuring the timely completion of the expansion projects drawn up by state-run steel units to increase the production of the commodity was among his top priorities. There is also the need restructure the small steel public sector undertakings and attempt to merge them to bring about more synergies among them, Singh told reporters here after taking charge his new portfolio.
India imposes anti-dumping duties on stainless steelApril 23rd, 2009 NEW DELHI - India has imposed anti-dumping duties on certain types of stainless steel that are imported from a host of countries including China and Japan after finding that they were landing at below the normal value. 'The domestic industry had suffered material injury,' said a notification by the Central Board of Customs and Excise.
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).
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