NEWS

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Iron ore mine allotted to Tata Steel by Chhattisgarh government in Dantewada district stands cancelled as the company failed to complete prospecting work within the stipulated period. The state had allotted 2,500 hectares of iron ore bearing land in Bailadila deposit No. 4 to Tata Steel in 2008 to feed…

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China has warned of the consequences of the EU imposing tariffs on its steel exports, saying the overcapacity in the metal industry is a global problem. Speaking at a Beijing press conference, Gao Hucheng, minister of commerce, said the issue which has caused more than 5,000 job losses in Britain’s…

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After hearing from laid-off steel workers, industry officials and an array of elected officials, the Obama Administration is apparently set to take action on the alleged illegal dumping of foreign steel in the United States. U.S. Rep. Rick Nolan said Monday that he has heard from White House officials in…

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Steel Ministry has pitched for addressing the inverted duty structure in the sector in the upcoming Budget in a bid to protect the domestic industry, which is facing an onslaught of cheap imports and weak prices. It has also asked the Finance Ministry to raise the peak duty rate from…

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India's oldest steelmaker Tata SteelBSE 0.69 % is looking to restructure its domestic business to reduce costs and increase productivity as poor demand and heightened competition from imports have shrunk profits, according to several people familiar with the matter. Restructuring at Tata Steel will take place across all business functions…

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In a bid to enhance quality control in the steel industry, the Centre has made ISI mark mandatory for 15 more steel and steel products, including mild steel wire rods, cold reduced low carbon and hot rolled carbon sheets and strips. The order will come into force from March 18,…

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BlueScope Steel has outlined further cost cuts and plans for the sale of its New Zealand iron sands business, as it looks to build on the momentum of its strong half year results. Australia’s largest steelmaker on Monday reported net profit for the six months ended December 31 had more…

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New Zealand Steel's Australian owner, Bluescope, is placing its Taharoa ironsands mining operation on the market after declaring a $A47.1 million ($NZ50.70m) loss on an underlying earnings before interest and tax basis for the first half of the current financial year in its Kiwi operations, driven by the falling value…

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U.S. Steel Canada Inc., the former unit of U.S. Steel Corp. under creditor protection since 2014, has drawn interest from ERP Compliant Fuels and Essar Steel Algoma Inc., people with knowledge of the matter said. ERP Compliant has submitted a bid for the steel operations in Hamilton and Nanticoke, Ontario,…

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An indigenous conglomerate, the Bua Group, has resumed discussions with a Chinese firm, Sinoma International Engineering Company, on plans to construct a steel plant in Nigeria and two cement factories in East Africa. The Chairman, Bua Group, Abdulsamad Rabiu, stated this on Thursday and gave the total cost of the…