Tata Steel on Wednesday said its subsidiary Tata Sponge Iron will acquire the steel business of Usha Martin Ltd for Rs 4,300-4,700 crore. We compete ArcelorMittal in Europe, so we can compete with them in India as well. JSW has also bid after the last date so that&hexagonal nut Manufacturers39;s our only point that the process has been compromised.Tata Steel last month submitted before the NCLAT that lenders of # BPSL permitted rival JSW Steel to change basic parameters of bids after submission. There is nothing against any of our peers," Narendran explained. I think we encourage good competition."Narendran further said that the company expects to complete the Usha Martin deal within next six months.When asked will there be any competition threat with the world's largest steel maker ArcelorMittal planning to enter Indian steel market

That's fine."What we have said is that process has been compromised. The company further said Tata Steel has not seen much impact of the global tariff war. Because earlier when we went to NCLAT we felt that Liberty Steel had bid after the last date which we felt was a compromise of the process. It is not about who bid..JSW Steel had revised its offer from Rs 11,000 crore to little over Rs 19,000 crore.Tata Steel indicated that it was unlikely to raise its Rs 17,000 cr bid for debt-ridden Bhushan Power and Steel.Around 90 per cent of lenders of Bhushan Power and Steel Ltd (BPSL) has voted in favour of JSW Steel's bid of more than Rs 19,000 crore, sources told PTI last week."So, our agony is that the process has been compromised and court will decide based on it immediately," he added. The company further said Tata Steel has not seen much impact of the global tariff war." Tata Steel reportedly has objected to lenders of Bhushan Power and Steel Ltd (BPSL) finalising a bid of its rival JSW Steel Ltd. I think we are confident in our own equity with our customers. Bhushan Power and Steel was among the 12 non-performing accounts referred by the RBI for NCLT proceedings
New Delhi: Tata Steel on Thursday indicated that it was unlikely to raise its Rs 17,000-crore bid for debt-ridden Bhushan Power and Steel.When asked if Tata Steel was still keen on Bhushan Power and Steel, company MD T V Narendran said, "At the price we have bid

Now, Tata at least has reached a pain point that it says forced it to act, even if this could mean shutting down the British operations it has spent almost a decade trying to turn around if it fails to find a buyer.Since the multi-billion-euro takeovers of Europe's Arcelor and Corus by Indian giants Mittal and Tata in 2006 and 2007, deal making in Europe's steel industry has been all but paralysed as cash-starved producers battled the global economic crisis and a slowdown in China that encouraged it to export cheap steel.OpportunitiesInitial interest from potential buyers appeared muted, with the business seen as unattractive because of Britain's vulnerability to cheap Chinese imports, its high energy prices and the cost of transporting steel to customers in continental Europe, as well as a disadvantageous exchange rate for exports.

We are waiting to see what sale proposal is on the table before deciding whether to bid for any of the assets," he said."The consolidation of the steel sector in Europe makes tons of sense but the problem is that the industry has waited for so long and the crisis is so big that you are dealing with businesses which are really cash flow-negative," said a London-based metals and mining banker who asked not to be named because he is not authorised to speak publicly.Tata Steel's plan to sell its British steel making business has raised expectations of a long-awaited consolidation in the European steel sector, which is suffering from years of unaddressed overcapacity."Unfortunately, if other steelmakers gain in terms of higher prices thanks to consolidation, this may only provide them more headroom to maintain the status quo for years to come," he said..European steel sector has been suffering from years of unaddressed overcapacity. This environment is neither."Tata Steel's exit from the UK might spark European consolidation in the steel space," Berenberg bank wrote in a note.Lacking the means to consolidate further, which would have brought capacity reductions, Europe's steel mill owners continued to produce more than was needed, trying to protect their market share and jobs but feeding into a vicious circle of gluts and falling prices.But severing its cash-bleeding British operations one way or another would allow Tata to seek a partner such as Germany's Thyssenkrupp for its profitable Dutch business - a combination that would create Europe's second-biggest steelmaker after ArcelorMittal .DE) and Voestalpine (VOES. But Seth Rosenfeld, a steel analyst at Jefferies, was sceptical. European steel stocks rose on Wednesday on the news of Tata's move.

If nobody comes they will shut it down," said Berenberg analyst Alessandro Abate.Thyssenkrupp has signalled clearly in recent months it would like to combine its European steel operations with those of another player - as long as it does not involve spending cash."We have always had over the last years overcapacity in the European sector and this definitely needs to be addressed and therefore we think there are opportunities," Chief Financial Officer Guido Kerkhoff told analysts on a call last month."Combinations could address that hexagonal nuts issue, and therefore be value-accretive overall.At stake is an EU industry with annual turnover of about 170 billion euros ($193 billion) that directly employs 330,000 people, with many times that number in manufacturing industries dependent on it for a living. The Tata steel plant dominates the skyline over the roof tops of Port Talbot, Wales."Selling over running it at a loss may clearly be a priority for Tata.A spokesman said the firm was potentially interested in the slab processing operations but not the more commoditised iron and steelmaking activities.

Tata said it had extended "substantial financial support" to its UK business, which employs about 15,000 people, and written its assets down by more than 2 billion pounds ($2."This is an industry that has seen waves of consolidation in times of either extreme distress or empire building. (Photo: AP) European steel sector has been suffering from years of unaddressed overcapacity.VI) - a development that could strengthen their hand to pursue their own acquisitions."Such a merger would support prices for other European players such as ArcelorMittal, Salzgitter (SZGG.9 billion)."A successful sale could depend on sweeteners that Tata or the British government may be prepared to offer, said commodities trader Liberty House, which last week agreed to buy two of Tata's Scottish plants

The same are now being regularised and levied for 10mm hex nuts a five-year period.Anti-dumping duty has been imposed for five years on 47 steel products including hot-rolled flat products of steel and those coated with zinc and clad steel.The duties are in the range of USD 478-561 per tonne.Besides, India had previously imposed the duties on August 17, 2016, for six months on cold-rolled flat products of alloy or non-alloy steel from China, Japan, South Korea and Ukraine."The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of imposition of the provisional anti-dumping duty, that is, August 8, 2016, and shall be payable in Indian currency," the notification said. The same were extended by two more months. Now, the duties have been imposed on hot-rolled products for five years.
The duties are in the range of USD 478-561 per tonne.From China, the companies to be impacted include Jiangsu Shangang, Xinsha International, Burwill Resources, Lu Qin, GS Global and Steelco Pacific. India had imposed provisional anti-dumping duty on the steel products with effect from August 8, 2016 for six months.. An official notification issued late yesterday stated that the anti-dumping duty will be in effect for five years beginning August 8, 2016.Companies affected by the duties include Hyundai Steel, POSCO and Samsung C&T of South Korea, while Japan's Honda Trading Corp, Mitsui & Co Ltd, Uttam Galva International, Nippon Steel, Sumitomo Corp, Toyoto Tshusho Corp and Marubeni-Itochu Steel would also come under its purview.
New Delhi: India has imposed anti-dumping duty on 47 steel products from half-a-dozen nations, including China, Japan, Korea, Russia and Indonesia, to protect domestic industry from cheap imports.This has resulted in "material injury" to domestic industry, it said, and recommended "imposition of definitive anti-dumping duty on the imports of subject goods. It said the Directorate of Anti-Dumping and Allied Duties (DGAD) has found in its investigation that the subject goods have been exported to India at below their normal value, thus resulting in dumping of the product.Anti-dumping duty has been imposed for five years on 47 steel products including hot-rolled flat products of steel. They were extended by two months in February."The duty has been levied on hot-rolled flat products of alloy or non alloy steel, originating in or exported from China, Japan, Korea, Russia, Brazil and Indonesia, the notification said

World Steel Association said 6 million tonnes in the current year, registering an increase of 5. These cover two broad categories, namely long products and flat products.Steel production is expected to grow due to growing economy and increasing urbanisation.5 million tonnes (MT) of finished steel products last year, according to World Steel Association which released its Short Range Outlook (SRO) for 2017 and 2018.7 per cent. The country produced 83.9 MT in 2018.9 per cent in 2018, World Steel Association said.
New Delhi: India's finished steel products output is likely to reach 88. The country's finished steel output is also likely to increase to 94.Country produced 83.Steel demand in the emerging and developing economies, including China, which accounts for 30 per cent of world total, is expected to grow by 4 per cent in 2017 and 4.Finished steel products are those which are obtained upon hot rolling/forging of semi-finished steel -- blooms, billets, slabs..5 million tonnes of finished steel products last year. The country's finished steel output is also likely to increase to 94