NEWS

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Gerdau, a producer of long steel in the Americas and one of the major suppliers of special steel, has recently inaugurated a coke oven plant as part of its ongoing expansion and modernisation programme. This plant, with a capacity of two lakh tonne per annum, has been built at Tadipatri…

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UNIVERSAL Mining and Chemical Industries Limited (UMCIL) intends to increase production to 500,000 tonnes of steel annually by 2019 from the current 100,000 tonnes. Meanwhile, UMCIL has shut some of its machinery because it has a challenge of raw materials. UMCIL managing director Biswajeet Chowdhury attributes the increase in production…

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Arcelor-Mittal is proposing to establish a steel plant in Dharwad for an investment of Rs 5,000 crore and it is said to be looking for a suitable land. Representatives of the Roland Berger Strategy Consultants Private Limited, the technical adviser to Arcelor-Mittal, are expected to visit the twin cities by…

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Shadeed Iron and Steel, part of the $12 billion Indian steel conglomerate Jindal group, plans to open its rolling mill for manufacturing re-bars by the end of the year. This is part of further integration and the 1.4 million tonne per annum rolling mill is being set up with a…

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Northern China's Hebei, the country's biggest steelmaking province, produced 16.11 million tonnes of the material in May, down 2.4 percent on the year, hit by weak underlying demand and a seasonal construction downturn. Crude steel output from Hebei in the first four months of the year reached 83.28 million tonnes,…

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Fair trade regulator CCI has approved the proposed merger of Hyundai Hysco with Hyundai Steel, saying the deal would not have any anti-competitive impact in the Indian market. Both companies are part of South Korea's Hyundai Motor Group. Hyundai Hysco is into the manufacture and sale of flat steel products,…

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The US government has initiated investigations to determine whether to impose antidumping and countervailing duties on import of corrosion-resistant steel products from India and four other countries. On Wednesday, "the US Department of Commerce announced initiation of AD and CVD investigations on imports of corrosion-resistant steel products from India, China,…

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JSW Steel Ltd, India's third-largest steel producer, does not see further increase in steel import duty, billionaire Chairman Sajjan Jindal said on Friday, after a federal minister said a decision on a hike was expected within a week. Many steel companies, such as JSW Steel, Tata Steel Ltd (TISC.NS) and…

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Neeraj Singhal-led Bhushan Steel said it will focus on capacity utilisation to ramp up operating profits besides selling non-core assets. “Since there will be no pressure of debt repayment for the next four years, we plan to focus on raising the topline. We will focus on catering to large clients…

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India is expected to take a decision on further raising import duty on steel within a week, Minister of Heavy Industries and Public Enterprises Anant Geete said, in a bid to protect local producers from surging imports from countries such as China and Russia. Last week, the government raised import…