steel industry

S&P; cuts ArcelorMittal ratings to junk status


August 3rd, 2012 - 5:49 pm ICT by IANS
London, Aug 3 (IANS) Ratings agency Standard & Poor's Friday cut Lakshmi Mittal-led steel firm ArcelorMittal's ratings to junk, saying the slowdown in the global economy, especially in Europe, ... Read more...

Posted in Business |

S&P; cuts Tata Steel outlook to negative


July 26th, 2012 - 9:01 pm ICT by IANS
New Delhi, July 26 (IANS) Global ratings agency Standard & Poor's Thursday cut its outlook on Tata Steel and its European subsidiary Tata Steel UK Holdings Ltd to "negative" from ... Read more...

Posted in Business |

Carborundum Universal turns acquisitive in South Africa


June 19th, 2012 - 11:29 pm ICT by IANS
Chennai, June 19 (IANS) Abrasives major Carborundum Universal Ltd (CUMI) Tuesday announced the signing of a binding agreement with Austrian company RHI to acquire the latter's wholly-owned fused minerals subsidiary ... Read more...

Posted in Business |

China steel industry eyes brisk business


June 8th, 2012 - 3:20 pm ICT by IANS
Beijing, June 8 (IANS) The Chinese steel industry will witness a surge in demand due to government approval of major infrastructure projects in the country, experts said.The State Council announced ... Read more...

Posted in Business |

Iron, steel sector fare poorly on green scale, says study


June 4th, 2012 - 8:55 pm ICT by IANS
New Delhi, June 4 (IANS) The iron and steel industry in India is struggling to meet environmental norms and the sector's overall environmental performance is poor, says a study released ... Read more...

Posted in Business |

Steel ministry subsidy scheme for iron ore processing


March 26th, 2012 - 5:47 pm ICT by IANS
Kolkata, March 26 (IANS) The steel ministry would soon come out with an interest rate subsidy scheme for iron ore processing and introducing energy-efficient systems in secondary steel plants."Both the ... Read more...

Posted in Uncategorized |

Japan’s industrial output rises 2 percent


February 29th, 2012 - 2:34 pm ICT by IANS
Tokyo, Feb 29 (IANS) Japan's industrial output rose 2 percent in January, marking the second straight monthly climb, according to a government report Wednesday.The better-than-expected rise was due largely to ... Read more...

Posted in Business |

China’s crude steel output went up in 2011


January 23rd, 2012 - 1:50 pm ICT by IANS
Beijing, Jan 23 (IANS) China's crude steel output increased 8.9 percent year-on-year to 683.27 million tonnes last year, 0.4 percentage points slower than the growth rate of 2010, according to ... Read more...

Posted in Business |

Steel production to rise if land, mining bills passed


December 15th, 2011 - 7:54 pm ICT by IANS
Kolkata, Dec 15 (IANS) India's steel production is expected to grow by 4-5 percent this fiscal against a target of 8 to 10 percent, but the situation would improve next ... Read more...

Posted in Business |

Gujarat NRE Coke’s net profit down 19 percent


November 9th, 2011 - 8:09 pm ICT by IANS
Kolkata, Nov 9 (IANS) Gujarat NRE Coke Ltd, the largest independent met coke producer in India, Wednesday reported a 19 percent dip in its net profit for the second quarter ... Read more...

Posted in Business |

Moody’s revises down POSCO’s rating outlook


November 3rd, 2011 - 3:09 pm ICT by IANS
Seoul, Nov 3 (IANS) The global credit rater Moody's said Thursday that it revised down the outlook for POSCO's A3 credit rating to negative from stable."The negative outlook mainly reflects ... Read more...

Posted in Business |

China’s steel output up in first three quarters


October 22nd, 2011 - 4:50 pm ICT by IANS
Beijing, Oct 22 (IANS) China's crude steel output climbed 10.7 percent year-on-year in first three quarters to 525.74 million tonnes, according to latest data provided by the country's top economic ... Read more...

Posted in Business |

Karnataka steel industry seeks more iron ore


September 29th, 2011 - 12:25 am ICT by IANS
Bangalore, Sept 28 (IANS) Karnataka's steel industry Wednesday sought the state government's intervention to increase iron ore supply severely hit after the Supreme Court banned mining in the state following ... Read more...

Posted in Business |

Apex court partially lifts mining ban in Bellary


August 5th, 2011 - 5:58 pm ICT by IANS
New Delhi, Aug 5 (IANS) Partially lifting its ban on iron ore mining in Karnataka's Bellary district, the Supreme Court Friday asked the National Mineral Development Corporation (NMDC) to start ... Read more...

Posted in Business |

China to have iron ore index


August 2nd, 2011 - 2:52 pm ICT by IANS
Beijing, Aug 2 (IANS) China said Tuesday that it will start a trial run of its iron ore index some time in August.Zhang Changfu, vice chairman of the China Iron ... Read more...

Posted in Business |

Supreme Court stops all mining work in Bellary


July 29th, 2011 - 8:45 pm ICT by IANS
New Delhi, July 29 (IANS) The Supreme Court Friday ordered the suspension of all mining operations in Karnataka's Bellary region."Mining (is) suspended with immediate effect till further orders," said a ... Read more...

Posted in Business |

Regulate iron ore prices, say Orissa steel producers


May 24th, 2011 - 7:22 pm ICT by IANS
Kolkata, May 24 (IANS) The central government should regulate iron ore prices to save the steel industry, producers from Orissa said here Tuesday."Iron ore is a national resource on which ... Read more...

Posted in Business |

Tata steel to shelve 1,500 jobs in UK factory


May 20th, 2011 - 7:36 pm ICT by IANS
Mumbai, May 20 (IANS) Indian steel major Tata Steel Friday said it will lay-off around 1,500 employees at its UK plants owing to a continued slump in demand, even as ... Read more...

Posted in World |

Tata steel to increase Chinese investments by five percent


May 3rd, 2011 - 1:25 pm ICT by ANI
Beijing, May 3 (ANI): Tata Steel Limited, the world's 10th-largest steel company in terms of production and a subsidiary of the Tata Steel Group, plans to increase its investment in China by ... Read more...

Posted in World |

Tata Steel, Rio Tinto join to support eco-friendly technology


April 21st, 2011 - 12:12 am ICT by IANS
Kolkata, April 20 (IANS) Tata Steel and Rio Tinto, leading international mining group based in the UK, have signed a licensing agreement to support technological and commercial development of the ... Read more...

Posted in Uncategorized |

Steel Minister asks RINL to explore possibility of cement plant in Visakhapatnam


March 23rd, 2011 - 8:26 pm ICT by ANI
New Delhi, Mar 23 (ANI): Union Minister of State for Steel (Independent Charge) Beni Prasad Verma, who reviewed the quarterly performance of Rashtriya Ispat Nigam Limited (RINL) here, asked RINL to explore ... Read more...

Posted in National |

Industry happy over iron ore export duty hike


February 28th, 2011 - 7:32 pm ICT by IANS
Kolkata, Feb 28 (IANS) Finance minister Pranab Mukherjee's proposal to enhance export duty for all types of iron ore got the thumbs up from the industry, but export duty exemption for ... Read more...

Posted in Business |

India expected to become second largest steel producing nation


February 25th, 2011 - 9:37 pm ICT by ANI
New Delhi, Feb 25 (ANI): Minister of State for Steel Beni Prasad Verma on Friday said that with a targeted production capacity of 120 million tonnes by 2012, India is expected to ... Read more...

Posted in National |

Pittsburgh Steelworkers To Face Harsh Consequences If They Miss Work For Super Bowl Game


February 5th, 2011 - 7:28 pm ICT by GD
By Madhuri Dey Feb 5, (THAINDIAN NEWS) Come Sunday and every house will have their televisions switched on all for the Super Bowl final match that will commence between two the tough teams ... Read more...

Posted in Sports |

United Bank of India expects better credit demand from Q3


September 30th, 2010 - 6:12 pm ICT by IANS
Kolkata, Sep 30 (IANS) City-based public sector United Bank of India (UBI) expects credit disbursals to grow from the third quarter (October-March) of the current fiscal (2010-11) on better demands from infrastructure ... Read more...

Posted in Business |

Steel industry may grow by 120 million tonnes by 2012, says Virbhadra Singh


September 20th, 2010 - 9:36 pm ICT by ANI
New Delhi, Sep. 20 (ANI): Union Steel Minister Virbhadra Singh has said that the country's steel industry would grow by 120 million tonnes by the end of 2012.Speaking at an industrial event ... Read more...

Posted in Business |

NMDC scouts for mines in Mozambique, South Africa


September 8th, 2010 - 7:02 pm ICT by IANS
Kolkata, Sep 8 (IANS) State-owned National Mineral Development Corporation (NMDC) is scouting for mines in South Africa and Mozambique, a top company official said here Wednesday. "We have a tie-up with Tata Steel ... Read more...

Posted in Business |

KKN Group forays into steel industry


August 25th, 2010 - 9:13 pm ICT by IANS
Kolkata, Aug 25 (IANS) City-based KKN Group has forayed into the steel making, acquiring Balaji Ispat Pvt. Ltd, a top company official said here Wednesday. "Fortunes of this (steel) industry is expected to ... Read more...

Posted in Business |

New York leads US list in new jobs


August 23rd, 2010 - 12:32 pm ICT by IANS
New York, Aug 23 (IANS) New York leads a list of cities in the US that are poised to offer the maximum number of new jobs in the country after the global ... Read more...

Posted in Business |

J.J. Irani expects 100 mn tonne steel production by 2015


July 31st, 2010 - 5:25 pm ICT by IANS
Kolkata, July 31 (IANS) India should touch steel production of 100 million tonnes by 2015, Tata Sons Ltd director Jamshed J. Irani said Saturday. "I think we are geared for that. By 2015, ... Read more...

Posted in Business |

Graphite India Q1 net profit at Rs.34 crore


July 29th, 2010 - 7:22 pm ICT by IANS
Kolkata, July 29 (IANS) Graphite electrodes manufacturer Graphite India Ltd (GIL), posted a standalone net profit of Rs.34 crore in the first quarter (April-June) of the current fiscal (2010-11), the company said ... Read more...

Posted in Business |

More efforts required to cross 200 million tonnes steel production: Virbhadra Singh


July 16th, 2010 - 9:32 pm ICT by ANI
New Delhi, Jul 16 (ANI): Minister for Steel Virbhadra Singh said on Friday that more concerted efforts are required to see that steel capacity goes beyond 200 million tonnes by 2020.Addressing ... Read more...

Posted in National |

Government puts onus on Orissa to push POSCO project


June 16th, 2010 - 7:15 pm ICT by IANS
New Delhi, June 16 (IANS) Ahead of External Affairs Minister S.M. Krishna's visit to Seoul, the government Wednesday said it has given all requisite clearances to the $12 billion POSCO steel project ... Read more...

Posted in Business |

Vesuvius India to double plant capacity


June 3rd, 2010 - 6:11 pm ICT by IANS
Kolkata, June 3 (IANS) Refractory supplier Vesuvius India Ltd is planning to commission its Kolkata project by December which will double its plant capacity, top company officials said Thursday. The expansion plan of ... Read more...

Posted in Business |

Graphite India to expand Durgapur plant capacity


May 13th, 2010 - 8:55 pm ICT by IANS
Kolkata, May 13 (IANS) Graphite electrodes manufacturer Graphite India Ltd (GIL) will expand the capacity of its Durgapur plant in West Bengal to 20,000 tonnes per annum within the third quarter (October-December) ... Read more...

Posted in Business |

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