Steel Authority sales up 14 percent

August 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.

July 28th, 2009 Earnings roundup: US Steel, SupervaluAmong the earnings stories for Tuesday, July 28, from AP Financial News: PITTSBURGH (AP) — United States Steel Corp., the largest U.S.-based steel maker, said Tuesday it lost $392 million during its second quarter as the global recession hurt orders for the metal. MINNEAPOLIS (AP) — Grocery chain Supervalu Inc.

July 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.

July 17th, 2009 NEW DELHI - The state-run steel manufacturer Steel Authority of India (SAIL) will see its workforce whittled down by around 20,000 by 2012-end, the government said Friday. "SAIL has been rationalising its manpower on an ongoing basis.

July 15th, 2009 NEW DELHI - In what may be seen as an early sign of economic recovery, use of steel in the country rose 5.2 percent to 12.83 million tonnes in the first quarter of this fiscal from 12.2 million tonnes in the same period a year ago. Steel production increased 3.4 percent to 13.98 million tonnes during Arpil-May 2009, compared to 13.53 million tonnes in the same period the previous fiscal.

July 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.

July 1st, 2009 KOLKATA - Despite the current uncertainty in the global steel industry, Japan's Kobe Steel has set up a subsidiary here to market machinery and related equipment, a senior company official said. "We planned this project two years back.

June 25th, 2009 NEW DELHI - Tata Steel, India's largest steel producer, Thursday reported 60 percent fall in its consolidated profit for 2008-09. The steel major's net profit stood at Rs.49.51 billion ($1 billion) in 2008-09, down from Rs.123.5 billion recorded the year before, the company said in a regulatory statement.

June 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.

May 28th, 2009 MUMBAI - State-run Steel Authority of India Ltd (SAIL) Thursday reported an 18.1 percent drop in its net profit for 2008-09 at Rs.6,174.9 crore, down from Rs.7,536.7 crore recorded the year before. The turnover during the period slipped 9.9 percent to Rs.41,518.7 crore from Rs.46,110.7 crore in 2007-08.

April 27th, 2009 US Steel posts 1Q loss as demand dropsPITTSBURGH — United States Steel Corp. says it lost $439 million in the first quarter as the recession pinched demand for the metal.

February 12th, 2009 KOLKATA - Tata Steel expects its February sales to grow 10-15 percent as compared to last month on the back of falling steel prices. 'In light of what is happening around the world, the Indian demand situation is not bad.

January 26th, 2009 MUMBAI - State-owned steel manufacturer, Steel Authority of India (SAIL), Tuesday announced its net profits had declined in the third quarter by 56.4 percent to Rs.8.43 billion (Rs.843.34 crore) from Rs.19.35 billion (Rs.1,934.66 crore) in the year-ago period. The company's net sales were down 7.14 percent to Rs.88.52 billion (Rs.8,852.26 crore) for the period under review, against Rs.95.33 billion (Rs.9,533.3 crore) in the corresponding previous quarter.

January 5th, 2009 RAIPUR - The country's largest steel maker Tata Steel Tuesday reported a 14 percent fall in sales in the October-December quarter over the corresponding period uin 2007. According to an official statement, the company's total sales during the period stood at 1.07 million tonnes.

January 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).