News

Latest headlines from leading Indian newspapers covering energy, environment, economy, and policy aspects.

Steel demand headed for a slump; prices, margins to fall

Domestic steel demand is likely to see a sharp dive in the first quarter of the coming fiscal due to stalled factories and production cutbacks across major user industries like auto and construction, Icra said on Friday. The rating agency has also lowered its forecast for steel demand growth for 2020-21 as the country has imposed a nationwide lockdown to contain the spread of the Covid-19 pandemic. “We estimate steel demand to grow by 2-3% in FY21,” Icra's senior vice president Jayanta Roy said. Against this, domestic steel consumption grew by 3.8% in FY20.

Category : Iron and Steel

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India’s crude steel output grows 1.5 per cent to 9.56 million tonnes in February: worldsteel

India’s crude steel output increased by 1.5 per cent to 9.56 million tonnes (MT) in February this year, according to global industry body worldsteel. The country had produced 9.42 MT steel in the same month a year ago, World Steel Association (worldsteel) said in its latest report.

Category : Iron and Steel

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Steel companies might face tough competition as China raises steel export rebate to 13%

Indian steel mills are likely to face more competition from rivals across the border in China after Beijing sought to raise export incentives on the primary infrastructure alloy by a third to help cushion the impact of demand destruction at home and overseas.

Category : Iron and Steel

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COVID-19 could be a boon to the paper and pulp industry—with worrying environmental consequences

Even as governments around the world fight to contain the spread of the novel coronavirus known as COVID-19, the economic damage the pandemic is certain to wreak around the globe is slowly coming into focus. In a solemn address to the nation on March 16th, French President Emmanuel Macron pledged that “no business, whatever its size, will face risk of bankruptcy”.

Category : Pulp and Paper

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Century Pulp and Paper to add new evaporation line at Lalkuan pulp mill

Century Pulp and Paper (CPP) will be adding a new evaporation line for its pulp mill in Lalkuan, Uttarakhand, to meet the future needs of the mill’s ongoing pulp production capacity expansion. The evaporation line will be supplied by Valmet, a global developer of process technologies, automation and services for the pulp, paper and energy industries.

Category : Pulp and Paper

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ArcelorMittal, Nippon Steel sign $5.14 billion loan pact to refinance Essar Steel buy

AMNS Luxembourg Holding S.A., the joint venture between Nippon Steel Corporation and ArcelorMittal has entered into a $5.14 billion (about Rs 38,000 crore) term loan agreement to refinance a loan taken for acquiring the erstwhile Essar Steel India, now renamed as ArcelorMittal NipponSteel India (AM/NS India).

Category : Iron and Steel

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JSPL looking to set up 2-2.5 mtpa steel plant at Patratu in Jharkhand

Jindal Steel and Power Ltd (JSPL) is exploring the possibility of setting up a steep plant with capacity of 2-2.5 million tonnes (mt) per annum at Patratu in Ramgarh district of Jharkhand. At Patratu, the company currently has a wire rod mill of 0.6 mtpa and a bar mill of 1 mtpa capacity with rebar service centre.

Category : Iron and Steel

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Success in energy efficiency, failure on storage and production front

Despite some achievements, India has missed out on most of the goals, for the energy sector, defined under the Three Year Action Agenda (2017-2018 to 2019-2020) charted by the NITI Aayog.

Category : Iron and Steel

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Coronavirus outbreak may rein in India's steel price rally

The global Coronavirus outbreak is likely to rein in the rally in domestic steel prices, in step with global steel prices which have sharply declined from January highs.

Category : Iron and Steel

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Coated paper prices rise sharply as coronavirus hits Chinese imports

Coronavirus seems to have benefitted paper companies, especially those such as Ballarpur Industries and JK Paper, which manufacture coated paper. The market prices of the product have increased by 8-10 per cent, according to two dealers due to the huge decline the past two months in the quantities China had been dumping into the country prior to the outbreak.

Category : Pulp and Paper

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