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Sanjeev Gupta meets UK biz minister Sajid Javid on Tata Steel UK buyout

Sanjeev Gupta meets UK biz minister Sajid Javid on Tata Steel UK buyout

Having evinced interest in acquiring certain assets of Tata Steel UK, Indian-origin businessman Sanjeev Gupta Tuesday met UK's Business Secretary Sajid Javid and said he is waiting for Tatas to start the "sales process" and promised that there will not be any major job cuts.

ArcelorMittal raises $3 billion via rights issue

Steel giant ArcelorMittal said it has successfully completed a USD 3 billion rights issue, proceeds of which will be utilised to pare debt.

Nalco registers record bauxite, alumina production

Public sector Nalco has clocked a record production of alumina and bauxite in fiscal 2015-16.

Tata Steel puts UK biz on block; Govt, unions hunt for options

Tata Steel puts UK biz on block; Govt, unions hunt for options

Tata Steel has put its entire UK business on the block, putting thousands of jobs at risk amid a deepening crisis in the country's once-storied sector that the Indian conglomerate had entered nearly a decade ago with a USD 14-billion takeover with much fanfare.

Gold falls to one-month low as dollar gains on Fed hike view

Gold falls to one-month low as dollar gains on Fed hike view

Gold dropped to its weakest in a month on Monday, pressured by a firmer dollar following hawkish comments from U.S. Federal Reserve officials that suggested at least two interest rate hikes this year, with the first potentially coming next month.

Steel consumption drops in Feb, first time since Nov 2015

Steel consumption drops in Feb, first time since Nov 2015

India's domestic steel consumption in February fell for the first time in the last three months by almost 2 percent to 6.84 mt, something that doesn't augur well for the industry, which is banking on demand to pick up to spur growth

SAIL Q3 net loss at Rs 1,529 crore on low income, import surge

SAIL Q3 net loss at Rs 1,529 crore on low income, import surge

Lower sales on account of "huge surge in imports of low-priced steel" from countries including China saw steel giant SAIL log a massive Rs 1,528.7 crore stand-alone net loss for the December quarter.

Coal linkages to cement, steel sectors via auction: Cabinet

Coal linkages to cement, steel sectors via auction: Cabinet

Allocation of coal linkages for the non-regulated sector, which includes steel and cement, will be only through the auction route to ensure transparency, government said Wednesday.

China crude steel output falls for first time in 34 years

China`s crude steel output fell last year for the first time since 1981, official figures and reports said Tuesday, amid a wider slowdown in the country`s economy and European accusations of dumping.

Government may fix minimum import price for steel products this week

Government may fix minimum import price for steel products this week

Ministries of Commerce and Steel are close to finalising the minimum import price of about 30-35 steel products, which is likely to be announced this week.

Govt spending key for revival of Indian steel sector: Fitch

Govt spending key for revival of Indian steel sector: Fitch

Spending on infra projects such as housing for all and smart cities is the key for the revival of the Indian steel industry, which faces headwinds like cheap imports, global agency Fitch said.

Govt mulls steps to help steel, aluminium sectors

Government is considering "proactive steps" to improve the health of steel and aluminium sectors which are reeling under the impact of decline in global prices, Finance Minister Arun Jaitley said Monday.

Crisis-hit Tata Steel asks suppliers to slash prices

Amid a crisis in Britain's steel sector, Tata Steel has warned its suppliers that if they do not slash prices by up to 30 per cent in the long term then they risk losing the steel giant's business.

Lakshmi Mittal's S African steel plant in government bailout

The South African arm of Indian steel magnate Lakshmi Mittal's business empire has received a bailout from government interventions after earlier being at loggerheads with it over a closure that would have effectively destroyed an entire town that depended on it.

Glass as strong as steel developed

The researchers used what they call aerodynamic levitation, to create glass imbued with extra amounts of an oxide of aluminium.

Iron, steel exports plunge 41% to $4.57 billion in September

Iron, steel exports plunge 41% to $4.57 billion in September

India's iron and steel exports plummeted by 41 percent to USD 4.57 billion in September against USD 7.69 billion a year ago, hit by a subdued economic sentiment mainly in the commodities market.

Harvard researchers develop way to make 'super-steel'

 Researchers at the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) have developed a new steel surface coating that makes the world's most important engineering and construction material stronger, safer and more durable.

China's crude steel output remains weak

China's crude steel output remains weak

China's crude steel output continues to decline, data from the country's top economic planner shows.

Assocham seeks sops from govt to revive sectors in 'crisis'

Pointing out that sectors like real estate, power, steel, gems and jewellery are in a "real crisis", industry body Assocham has approached the government for incentives like a cut in excise duty, teaser loans for housing and interest subvention for exporters.

NMDC may invest Rs 40,000 cr in 8 years for capacity expansion

NMDC may invest Rs 40,000 cr in 8 years for capacity expansion

State-owned NMDC Ltd plans to invest Rs 40,000 crore in the next eight years to reach a target of 100 million tonnes per annum of iron ore production from the current levels of little over 30 MTPA.