INDUSTRY NEWS

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Steel cos cut prices in line with global trend
2 Jun, 2005

Indian steel companies including Steel Authority of India Ltd (Sail) and Essar Steel have announced a 7-8 per cent cut in steel prices. This would effectively reduce the prices by Rs 500-2000 a tonne depending on the category of steel reported a leading business daily.   ...more
 

Steel cos outshine IT cos in profit
2 Jun, 2005

Major steel companies have shown stronger growth in profit after tax (PAT) compared to major technology companies but the brick and mortar giants have under performed compared to tech companies in the stock markets reported a leading business daily.   ...more
 
 
 

Steel sector to drive credit growth
31 May, 2005

The steel sector would drive credit growth in the domestic banking sector in the next couple of years. According to estimates, investments worth $5 billion are being planned in the next few years to increase capacity in this sector. Besides steel, textile and sugar sectors would also boost demand for credit reported a leading business daily.   ...more

INTERNATIONAL

 

Glut forces drop in steel prices
31 May, 2005

The latest data on steel production from China will send tremors through the steel world reported a leading business daily.

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China steel exports drop in April
30 May, 2005

Statistics from the China General Administration of Customs show that the country´s billet export declined by 40 per cent in April after the abolition of the export tax rebate policy for the industry.
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Global steel demand to grow 3 pc: Mittal
27 May, 2005

Lakshmi Mittal, billionaire-owner of Mittal Steel Co., predicts global steel demand will grow 3 per cent a year as emerging markets in eastern Europe, Russia, India and China expand reported a leading business daily.
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Posco seeks nod to build steel mill in China
24 May, 2005

Posco, the world’s fifth-largest steel maker, said on Thursday it was seeking approval to build a steel plant in China that could supply automakers. Posco has been looking for opportunities to expand its presence in China and India where demand for steel is booming reported a leading business daily.
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Baosteel supplies 70% of steel products for the construction of EastChina Sea Bridge...

 

RAW MATERIAL

Iron ore exports up 134 pc
2 Jun, 2005

Iron ore exports from the country grew by a whopping 134 per cent in April-March 2004-05 to 2629.52 million dollar as against 1125.81 million dollar in the year before fiscal reported a leading busines daily.   ...more

Posco may mine ore in a phased manner
1 Jun, 2005

The Pohang Steel Company (Posco), which plans to set up a 12 mt steel plant in Orissa in stages, may be allowed to mine iron ore in a phased manner. Under the mining lease to be granted to the South Korean major, access to raw material will be linked to the progress made in the project, which envisages the highest ever, FDI inflows of $12 billion into the country reported a leading business daily.  ...more

Mining cess raises input costs in Orissa
1 Jun, 2005

Even as global majors have lined up steel investments in Orissa, a cess notification has made major minerals such as iron ore, bauxite, chromite, coal and manganese costlier reported a leading business daily.   ...more

Ispat to sell sponge iron, DRI
31 May, 2005

Beginning June, steel maker Ispat Industries Ltd will market sponge iron and directly reduced iron (DRI). Hitherto, DRI produced by the company was meant for captive consumption reported a leading business daily.   ...more

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