ArcelorMittal was eligible to bid for Essar Steel

Press Trust of India reported that ArcelorMittal on Tuesday said it was eligible under the Insolvency & Bankruptcy Code to bid for Essar Steel as it was not a promoter of Uttam Galva and KSS Petron, and had already offloaded its shares before submission of the bids.  Arguing before the National Company Law Appellate Tribunal (NCLAT) on...

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First ever Indian Steel Sector Map 2018

First ever Indian Steel Sector Map 2018, which depicts capacities of various steel makers at various locations as well as provides them in tabular form, is to help user visualize the entire steel sector in effective way.It was launched by Hon’ble Minister of State for Steel on May 17th at Indian Steel Makret 2018. Map size is 49”x23” and is printed...

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Nikkei India Manufacturing PMI at 51.3 - Production growth eases as new orders rise at weaker rate

Brief :- The health of the Indian manufacturing economy improved further in June, but output growth eased on the back of a weaker rise in new business inflows. Workforce numbers were, once again, unchanged during the month, reflecting firms efforts to keep expenses stable. Encouragingly, inflation rates softened, with both input costs and output charges...

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Tata Steel service centre in UK

Tata Steel opens UK's largest plate service centre TATA Steel has today opened the UK’s largest profiling centre for steel plate in the West Midlands, increasing its plate processing capacity in the region by up to 50 per cent. The new Profiling Centre, at Steelpark in Wednesfield, transforms steel plate into a multitude of shaped and machined components, from high-volume production runs for off-road vehicle wheels and booms for earth-moving equipment, to large one-off components for construction projects and specialist engineering applications. The...

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Spot iron ore prices

Spot iron ore holds near 5 month low Reuters reported that spot iron ore prices stayed near their weakest level in more than five months, reflecting slow demand from top importer China where steel mills are in no rush to snap up cargoes amid a soft market. Chinese iron ore futures bounced back slightly after plumbing a fresh contract low and Shanghai steel edged up but not far above a record trough reached last week. According to data compiled by Steel Index, ore with 62% iron content for immediate delivery to China .IO62-CNI=SI was little changed...

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