India

Tata, Essar Steel Taking Measures to Improve Forecasts

by Sohrab Darabshaw on May 23, 2012

Style:    Category: Company News, Ferrous Metals, Supply & Demand

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Although JSW Steel reported historically high production numbers, they’re not without their troubles, while Tata Steel reported a huge profit decrease recently. So what exactly are the drivers for Indian steelmakers’ current woes? Tata Steel Chief Financial Officer Koushik Chatterjee told reporters that the high raw material cost and volume impact had negatively impacted domestic [...]

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Some Cheer, Some Bad News From India’s Steel Sector

by Sohrab Darabshaw on May 23, 2012

Style:    Category: Company News, Ferrous Metals, Public Policy

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Sohrab Darabshaw contributes an Indian perspective on industrial metals markets to MetalMiner. Players in the Indian steel sector continue to paint an optimistic picture in the medium-term, despite some recent negative developments in the steel industry. They are also looking at new avenues for selling steel, domestically and internationally. On the other hand, investors and industry experts continue [...]

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JSW Steel Reports Highest-Ever Production Numbers in 2012

by TC Malhotra on May 22, 2012

Style:    Category: Commodities, Ferrous Metals, Public Policy

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India’s steel manufacturer, JSW Steel Limited, has reported the highest-ever volume of production and sales for 2011-2012, including Q4 FY2012. According to a Business Standard report, the company produced 7.43 million metric tons of crude steel in FY12 and 2.07 million metric tons in Q4. Similarly, sales volume in FY12 and Q4 was 7.82 million [...]

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Mining Controversies, Lopsided Policies Hurting India Steel Industry

by Sohrab Darabshaw on May 21, 2012

Style:    Category: Ferrous Metals, Global Trade

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MetalMiner welcomes guest contributor Sohrab Darabsha, who covers industrial metals markets from an Indian perspective. While China has already managed to install excess steelmaking capacity, India is struggling to meet its internal demand, which is set to grow by about 8 percent in 2012. There are many reasons for India’s inability to meet its own [...]

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Afghanistan Another Target for India’s Raw Material Hunt

by TC Malhotra on May 17, 2012

Style:    Category: Commodities, Company News, Ferrous Metals

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In Part One, we explored India’s interest in Mongolia’s natural resources. Media reports suggest that a consortium of four state-owned Indian companies comprising SAIL, Nalco, Hindustan Copper and Mineral Exploration Corp. has been shortlisted last month to invest in new gold and copper deposits in Afghanistan. Two private players — Monnet Ispat & Energy and [...]

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Steel Authority of India Sets Sights on Mongolia

by TC Malhotra on May 16, 2012

Style:    Category: Commodities, Company News, Ferrous Metals

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Not surprisingly, Indian steelmakers are looking towards mineral-rich Mongolia to get in on the action of the huge mineral wealth in that country. According to an Economic Times report, the state-owned Steel Authority of India Ltd. (SAIL) is considering replicating its successful public-private approach in both Mongolia and Afghanistan. SAIL has signed a Memorandum of Understanding [...]

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Indian Coal Privatization Proposal To Affect Pricing

by TC Malhotra on May 15, 2012

Style:    Category: Commodities, Ferrous Metals, Public Policy

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Continued from Part Two.  Recent reports suggest that the government is working on a proposal under which CIL would engage private sector companies to undertake mining on behalf of the coal miner — which could affect coal prices in the medium- to long-term. A PTI report suggests that top-level government officials recently discussed the proposal [...]

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Privatizing India’s Coal Sector to Narrow Demand-Supply Gap?

by TC Malhotra on May 15, 2012

Style:    Category: Commodities, Ferrous Metals, Public Policy

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Continued from Part One. Last week, Indian Junior Coal Minister Prakashbapu Patil said in a written reply to the upper house of the parliament (Rajya Sabha) that the gap between projected demand and supply has increased to 161.5 million metric tons in 2011-12. Imports of the fossil fuel during the period also went up from [...]

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