Indian dependence on steel imports to double in two years - HSBC

India’s reliance on imported steel is likely to almost double in the next two years due to the widening deficit between slow growth in domestic production and rapidly growing consumption.

According to data compiled by HSBC Global Research, by 2012 imported steel is estimated to

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SAIL receives joint venture proposal from TATA Steel

Mint reported that according to Mr SK Roongta chairman Steel Authority of India Ltd, it has received a proposal from TATA Steel to form a joint venture for steel making.

SAIL is considering two other JV proposals one from KPOSCO and the other from ArcelorMittal. SAIL and POSCO had signed a

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Volatility in Indian domestic steel prices in last 12 months

Indian domestic steel market, which was one of the lone spots of activity during peak recession globally, has not been insulated to volatility in last 12 months for both long and flat products. Currently it is on down cycle putting steel markets under negative sentiments.

The movement for

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Faint revival in long product prices expected before the monsoon

Last few days has seen some twist and turns in the hitherto tattered sentiments in long product prices in India. The unbroken collapse in its prices has nearly obliterated any hopes of revival in the immediate future. In fact the battered market has compelled producers concede price reduction

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Larsen and Toubro to set up USD 250 million infrastructure fund

Engineering major Larsen and Toubro said that it was planning to set up a USD 250 million fund for infrastructure projects in India.

The company is looking for foreign partners and will finalize a deal in a couple of months.

A sourced said that “We are planning to set up

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