#MCProOpinion: #Iron prices have crossed the $190/tonne mark on the back of rising demand from #steel producers, who are ramping up output to capitalise on rising #SteelPrices and demand. What could interrupt this party? Ravi Ananthanarayanan finds out ⤵️

https://www.moneycontrol.com/news/opinion/theres-only-one-risk-to-the-bright-outlook-for-steel-6825511.html?utm_source=telegram&utm_medium=social

#InterviewswithMC | JSPL MD VR Sharma interacts with Shine Jacob over rising #steel demand & exports while mentioning that the company is expecting a 7 % rise in its production during the current FY despite #covid19

https://www.moneycontrol.com/news/business/interview-india-needs-zero-rail-imports-domestic-players-can-meet-demand-v-r-sharma-md-jspl-7095081.html?utm_source=telegram&utm_medium=social

#MCProOpinion: Shares of #steel companies fell sharply in August. #China's determined efforts to cut steel output appear to have caused a crash in iron ore prices. That's not good news for the steel firms. Read at

https://www.moneycontrol.com/news/opinion/crack-in-iron-ore-prices-exposes-chink-in-steel-sector-valuations-7375051.html?utm_source=telegram&utm_medium=social

#RealEstate | Developers claim that #steel prices have gone up by 121% and cement by nearly 38% in the last 2 years and that cost of construction has increased by at least Rs 500 per sq. ft. making projects unviable.

Read at 👇
https://www.moneycontrol.com/news/business/real-estate/after-maharashtra-developers-realtors-in-delhi-ncr-threaten-to-halt-construction-as-prices-of-raw-materials-soar-8262051.html?utm_source=telegram&utm_medium=social

India plans to double #imports of #Russian coking #coal, a key ingredient in making #steel, the minister said. He said the country had imported 4.5 million tonnes but did not indicate the period he was referring to.

Read here 👇
https://www.moneycontrol.com/news/business/india-leans-toward-continued-import-of-russian-coking-coal-8281841.html?utm_source=telegram&utm_medium=social

In our multi-part series on the impact of #inflation on the #IndianEconomy, Moneycontrol on May 17 reported that amid an unprecedented rise in retail inflation numbers, govt will step in with more measures to curb inflation.

Read here.

And the govt announced it on Saturday through a series of measures. 👇
🔸 Centre cuts #exciseduty on #petrol by Rs 8 per litre, on #diesel by Rs 6 per litre

🔸 Govt will also give a subsidy of Rs 200 per #gascylinder (up to 12 cylinders) to over 9 crore beneficiaries of #PMUY

🔸 Govt has waived #importduty on some raw materials for #steel industry, #exportduty on #ironore hiked up to 50%

🔸 Additional amount of ₹ 1.10 lakh crore is being provided to further cushion our #farmers

🔸 Measures are being taken up to improve the availability and cost of #cement

#MarketsWithMC | Metal shares remained under pressure in today's trade after govt-imposed export duties on #ironore and some #steel intermediaries.

Ravindra Sonavane tells us more, read at 👇
https://www.moneycontrol.com/news/business/metal-stocks-slump-after-government-imposes-export-duty-8557181.html?utm_source=telegram&utm_medium=social

Indian #banks are unlikely to cut back lending to #steel companies despite the likely near-term pressure on their balance sheets due to the govt’s recent #exportdutyhike.

Read the details 👇
https://www.moneycontrol.com/news/business/banks-may-not-cut-lending-to-steel-sector-despite-export-duty-hike-say-rating-agencies-8573541.html?utm_source=telegram&utm_medium=social

Indian #infrastructure companies do not expect the govt's move to increase export duty on #steel, to have an immediate effect on the cost of #infra projects or the speed at which they are awarded.

Find out why ⏬
https://www.moneycontrol.com/news/business/infra-firms-dont-expect-govt-move-to-rein-in-steel-prices-to-have-immediate-impact-8582761.html?utm_source=telegram&utm_medium=social

#NewsAlert 🚨 #JSWSteel signs MoU with SMS Group for carbon reduction projects. To invest Rs 10,000 crore to reduce carbon emissions from #steel manufacturing.

#JSWGroup Joint Managing Director & CFO Seshagiri Rao shares #steel industry outlook, value unlocking plans, group’s strategy, #budget expectations and business mantra.

#NewsAlert 🚨 #JSPL to invest Rs 7,930 crore under the #PLIScheme for specialty #steel: MD Bimlendra Jha

#BudgetWithMC | Govt has proposed to hike the budgetary allocation for the Product Linked Incentive (#PLI) scheme for specialty #steel to Rs 270 crore in the #Budget2024. 📈

Details here ✍️
https://moneycontrol.com/news/business/budget/government-allocates-rs-270-crore-for-steel-pli-scheme-in-budget-2024-12175271.html?utm_source=telegram&utm_medium=social