Railways may reduce freight rate on steel.
Byline: Rajat Guha & Pramugdha Mamgain NEW DELHI: After reducing the freight rate for iron ore, the Railways may cut transportation rates for steel also as part of the government's measures to control inflation that is at a 44-month high. The new classification will bring...

Export duty gives a leg-up to local steel output.
Byline: Pramugdha Mamgain NEW DELHI: Steelmakers have decided to cut down exports significantly in the wake of 15% export duty imposed on hot-rolled coils (HRCs). While JSW Steel has decided not to export at all this fiscal, some others like Essar and Ispat are looking to reduce...

Export duty on HRC to add to steelmakers' margin pressure.
Byline: Pramugdha Mamgain NEW DELHI: Steel producers, including JSW, Essar and Ispat are expecting further pressure on margins in the current quarter, owing to a 15% export duty on hot-rolled coils (HRCs) and a price reduction of Rs 4,000/tonne on HRCs. As exports have now become less...

Steel prices hiked 10% as FM calls for stability.
Byline: Subhash Narayan NEW DELHI: Steel producers have pushed up prices yet again - this time by almost 10% - despite the excise reduction in the 2008 Budget and the government's call against price hikes. Ironically, higher prices were announced on Wednesday when finance minister P Chidambaram...

Tough time ahead for steel cos' shareholders.
Byline: Santanu Mishra After a flurry of speculation, primary steel producers finally succumbed to the government's pressure and agreed to reduce the prices of flat and long products. This translates into an annual subsidy worth Rs 15,000 crore from steel makers to their buyers, including...

Essar to set up 2-mt steel plant in Bangladesh.
MUMBAI: The Ruias-promoted Essar Group has decided to set up a 2 million tonne gas-fired steel plant in Bangladesh, through a collaboration with four local partners, according to sources close to the development. The plant, estimated to cost about Rs 8,000 crore, will make hot-rolled steel, a base-grade steel...

Consumer durables, cars may get dearer as steel prices rise.
NEW DELHI: Consumer durables and automobiles are in for a price hike as integrated steel makers have increased steel price between Rs 2,000 per tonne and Rs 2,500 per tonne (6-8 %) on account of rising iron ore, coking coal and energy prices. The hike will take up the...

Govt mulls 5% higher export cess to tame steel prices.
Byline: Subhash Narayan NEW DELHI: The government may take another set of fiscal measures to check surging steel prices. It is considering increasing export cess on long steel products from 10% to 15%. An increase in cess would improve its availability in the domestic market...

Stocks to watch on Thursday.
MUMBAI: Equities are likely to be rangebound amid mixed global cues. Even as the market is jittery over forex derivatives losses ahead of earnings season, a Credit Suisse report says that the size of the potential mark-to-market losses of companies on forex derivative products is pegged at...

Fresh measures proposed to rein in steel prices.
Byline: Subhash Narayan NEW DELHI: The steel ministry has proposed a series of fresh initiatives like cutting duties in inputs like refractories, zinc and met coke; lowering excise duty on the product from present 14% to 8% curbing iron ore exports through higher export duty and introducing...