news

KIOCL on cusp of having its own captive mines in Karnataka

20 Oct, 2020

KIOCL Ltd is in the cusp of having its own captive mines in Karnataka. This follows a move by the state government to recommend allotting an iron ore block in Devadari range in Ballari, union minister of state for steel Faggan Singh Kulaste said. KIOCL Ltd can commence mining there as soon as the st

U.S. steel sector capacity utilization rate rises to 69.4%

20 Oct, 2020

The U.S. steel sector continued to show incremental gains in capacity utilization last week. Capacity utilization by U.S. mills rose to 69.4% for the week ending Oct. 17, 2020, according to the American Iron and Steel Institute (AISI).

Steel scrap use down 10% in first half year

20 Oct, 2020

Figures from worldsteel for the first six months of 2020 confirm a year-on-year fall in global crude steel production of 6% to 873 million tonnes, as against 928 million tonnes in the same period of 2019. The information came from Rolf Willeke, statistics advisor of the BIR Ferrous Division, who pre

LIBERTY SUBMITS OFFER FOR THYSSENKRUPP STEEL DIVISION

20 Oct, 2020

The business said a combination of the two would "create a strong group, well positioned to tackle the challenges faced by the European steel industry and accelerate the transformation to GREENSTEEL" – an initiative designed to recycle and upcycle the growing amount of scrap steel, using electric ar

Duty-remission scheme for exports to start with 3 sectors

20 Oct, 2020

The new Remission of Duties or Taxes on Export Products (RoDTEP) scheme for exporters is being readied on priority basis for three select sectors — readymade garments, iron and steel and automobiles & components — while the rates for the other sectors are to be determined subsequently.

Steel prices, stocks are likely to rally further

20 Oct, 2020

Steel prices are expected to continue their recovery, David Lennox of Fat Prophets, said in a discussion on CNBC-TV18. “Seeing a v-shaped recovery in China which bodes well for metal sector. We are looking at steel prices to continue to recover primarily on the back of stimulatory,” Lennox said.