Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi: Steel companies in the country are likely to face margin pressure in the third quarter of FY25 as muted steel prices compress spreads, according to a report by Axis Securities. The report stated that the weak demand in China and higher exports from the country have been identified as key factors behind the decline in steel prices. The report highlighted that <keyword id="24048830" type="General" weightage="20" keywordseo="Chinese-steel-exports" source="keywords">Chinese steel exports</keyword> reached 92 million tonnes per annum (MTPA) between January and October 2024, marking a 22 per cent year-on-year increase. This has led to an oversupply in the global market, weighing down prices domestically. It said "Weak Chinese domestic demand along with higher Chinese exports has led to a decline in steel prices in India. Chinese steel exports from Jan'24 to Oct'24 stood at 92 MTPA, up 22 per cent YoY" In India, the average price of hot-rolled coil (HRC) steel in the trader's market in Mumbai fell by 8 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 51,802 per tonne in the second quarter of FY25. Spot prices have further declined to Rs 49,000 per tonne, 5 per cent lower than the Q2FY25 average. The report also noted some signs of recovery in China's residential property sector, with increased transactions in major cities following policy measures aimed at boosting demand. However, challenges remain, as the three-month moving average of year-to-date floor space declined by 19 per cent year-on-year in September 2024, remaining in negative territory. It said "China's residential property sector is showing some signs of improvement with the transactions in major cities rising after recent policy measures introduced to boost demand". On the global front, the report noted that the probability of a 25-basis point rate cut by the US Federal Reserve in its December 2024 meeting has fallen to 58.9 per cent, down from 76.8 per cent in October 2024, owing to strong economic data from the US. Additionally, China has removed a 13 per cent export rebate on aluminum and copper, effective December 1, 2024, in response to anticipated tariff measures by the new US administration. These developments highlight the ongoing challenges and potential shifts in the global and domestic steel and metals markets.

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

Tata Group's largest companies by market capitalisation

<ul class="summary-list"><li>One of US Steel's rivals has entered the fight over the steelmaker's sale.</li><li>US Steel threatened to close its mills if Biden blocks its sale to Japan's Nippon Steel.</li></ul>As the <a target="_blank" class="" href="https://www.businessinsider.com/us-steel-biden-harris-trump-oppose-sale-nippon-2024-9">fight over US Steel ramped up</a> this week, its top US steelmaking competitor is now condemning the company and offering to save the day.Cleveland-Cliffs, a steel manufacturer based in Cleveland, <a target="_blank" class="" href="https://www.clevelandcliffs.com/news/news-releases/detail/650/cleveland-cliffs-commends-president-bidens-reported">said in a press release </a>on Thursday that it would support President Joe Biden's reported decision to block the $14.9 billion sale of Pittsburgh-based US Steel to Japanese steelmaker Nippon.Biden has not announced that he will formally block the deal — which US Steel and Nippon <a target="_blank" class="" href="https://www.businessinsider.com/us-steel-former-largest-steelmaker-sold-nippon-steel-japan-2023-12">agreed to in December</a> — but sources told both <a target="_blank" rel=" nofollow" class="" href="https://www.washingtonpost.com/business/2024/09/04/biden-prepares-reject-us-steel-deal/">The Washington Post</a> and <a target="_blank" rel=" nofollow" class="" href="https://www.ft.com/content/b8427273-7ee7-48de-af1e-3a972e5a0fcf">The Financial Times</a> earlier this week that the president plans to do so soon.Just hours before Biden's planned rejection was reported, US Steel suggested that it would close down its mills and move out of Pennsylvania — a swing state critical to the 2024 election — if the deal collapses.Then, Cleveland-Cliffs entered the chat.In its press release on Thursday, the Ohio-based company offered to buy up US Steel's unionized mills if it follows through on its threat to close them down."Cleveland-Cliffs stands ready to immediately acquire and invest in any and all union-represented assets that US Steel shuts down, protecting union jobs and investing in the future livelihoods and communities in which the facilities operate," Cleveland-Cliffs CEO Lourenco Goncalves said in the release, adding that the company has the support of the United Steelworkers union and ample financing available.And the company didn't waste the opportunity to throw shade at its rival."The last-minute threats by US Steel to shut down integrated steelmaking production, fire union workers, and move their headquarters from Pittsburgh if their deal does not close is just a pathetic blackmail attempt on the United States government and the Commonwealth of Pennsylvania," Goncalves said. "By taking immediate action, our government is showing that this type of shameless behavior will never be tolerated."Goncalves stressed his belief that the steel mills should remain American-owned and operated — a stance that Vice President Kamala Harris and former President Donald Trump have echoed on the campaign trail.US Steel has maintained that the sale to Nippon would not affect national security. The company's CEO, David Burritt, has also defended the possibility of shuttering its mills, telling <a target="_blank" rel=" nofollow" class="" href="https://www.wsj.com/business/u-s-steel-warns-of-plant-closings-if-sale-collapses-4ef45756?mod=hp_lead_pos8">The Wall Street Journal</a> that the company just doesn't "have the money" to keep them open.

The fight over US Steel is intensifying, and a top competitor now wants in     

<ul><li><keyword id="20674001" type="General" weightage="100" keywordseo="Savitri-Jindal" source="keywords">Savitri Jindal</keyword>, the matriarch of the <keyword id="21185539" type="General" weightage="20" keywordseo="Jindal-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Jindal Group" meta.hostid="261" meta.entityid="Jindal Group">Jindal Group</keyword>, is India's richest woman with a net worth of $36 billion. </li><li>Following her husband Om Prakash Jindal's sudden death in 2005, she took over the <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">steel</keyword> and <keyword id="44011" type="General" weightage="20" keywordseo="power" source="Orion">power</keyword> conglomerate. </li><li>She is the only Indian woman in the top 10 of <keyword id="20017067" type="General" weightage="20" keywordseo="Forbes" source="keywords" meta.keywordsubtype="org" meta.entityname="Forbes" meta.hostid="261" meta.entityid="Forbes">Forbes</keyword>’ list of the richest women in the world in 2024. </li></ul>In the vast and dynamic landscape of Indian business, one name stands out as a symbol of resilience, leadership, and unparalleled success: Savitri Jindal. With an astonishing net worth of $36 billion, she is India's richest woman. According to the <keyword id="962341" type="General" weightage="20" keywordseo="bloomberg-billionaires-index" source="Orion">Bloomberg Billionaires Index</keyword>, her net worth zoomed at $9.5 billion in 2024, making her the only Indian woman in the top 10 of Forbes’ list of the richest women in the world that year. <h2> A Legacy of Leadership</h2>Savitri Jindal's journey began in 2005, following the unexpected death of her husband, Om Prakash Jindal, the visionary founder of the Jindal Group. Thrust into the helm of a vast conglomerate with interests in steel, power, <keyword id="6378916" type="General" weightage="20" keywordseo="cement" source="Orion">cement</keyword>, and infrastructure, she faced immense challenges. Yet, her determination and astute leadership transformed these challenges into opportunities, propelling the Jindal Group to unprecedented heights. Under Savitri Jindal's guidance, the Jindal Group flourished, becoming a cornerstone of India's industrial sector. Some of the flagship companies of the Jindal group are Jindal Saw Limited, JSW Steel, Jindal Stainless Steel Limited and Jindal Steel and Power Limited. She’s currently the chairperson emerita of the O.P. Jindal Group, and also the president of Maharaja Agrasen Medical College, Agroha. <h2>Beyond the Boardroom</h2>Savitri Jindal's influence extends beyond the boardroom. She has made significant contributions to public service and philanthropy. In 2005, Jindal was elected to the Haryana Vidhan Sabha from Haryana’s Hisar constituency, which was earlier represented by her late husband Om Prakash Jindal for a long time. In 2009, she was re-elected to the constituency and was appointed the cabinet minister in the Haryana Government on 29 October 2013. She transitioned to the Bharatiya Janata Party in March this year. <h2>A Broader Trend of Empowerment</h2>Savitri Jindal's rise to prominence is not just a personal triumph but a reflection of a broader trend in India. Women are breaking barriers and redefining success in the business world. Influential figures like Kiran Mazumdar-Shaw and Falguni Nayar are reshaping the narrative of corporate leadership and success, proving that the boardroom is no longer an exclusively male domain. Savitri Jindal's story is one of perseverance, strategic vision, and an unyielding commitment to excellence. Her leadership has not only fortified the Jindal Group's position as an industrial powerhouse but has also inspired a new generation of women leaders in India.

Meet Savitri Jindal: The richest woman in India, with a net worth of $36 billion!

<ul class="summary-list"><li>US Steel is warning the White House not to block its sale to Nippon Steel.</li><li>The company floated massive job cuts in Pennsylvania, a key swing state.</li></ul>It's a rare thing to see Joe Biden, Kamala Harris, and Donald Trump all agree on something.But as the 2024 election races into its final sprint, the sitting president and both contenders to replace him all want to block the <a target="_blank" class="" href="https://www.businessinsider.com/us-steel-former-largest-steelmaker-sold-nippon-steel-japan-2023-12">sale of US Steel to Japanese company Nippon Steel</a>.But it appears the steelmaker isn't going quietly if its acquisition is rejected.Biden plans to announce that he will block the $14.9 billion sale of US Steel to Nippon, sources told both <a target="_blank" class="" href="https://www.washingtonpost.com/business/2024/09/04/biden-prepares-reject-us-steel-deal/">The Washington Post</a> and <a target="_blank" class="" href="https://www.ft.com/content/b8427273-7ee7-48de-af1e-3a972e5a0fcf">The Financial Times.</a>The Financial Times reported that the president would reject the deal — which both companies agreed to in December — based on national security concerns.The possible acquisition of a once-mighty American brand like US Steel by foreign investors has become a flash point in the 2024 elections, with both major candidates arguing against it.In a joint campaign stop with Biden in Pennsylvania on Monday, Harris told supporters that "US Steel should remain American-owned and American-operated," <a target="_blank" class="" href="https://apnews.com/article/harris-biden-election-2024-afd4b7fbd9d747e307a8fb5c1f60d5fa">the Associated Press reported</a>.Trump has also repeatedly pledged to block the sale "instantaneously" if he re-enters the White House, <a target="_blank" class="" href="https://www.politico.com/news/2024/01/31/trump-us-steel-sale-00138910">Politico reported</a>."I will stop Japan from buying United States Steel," Trump reiterated at a Pennsylvania rally in August, according to <a target="_blank" class="" href="https://www.reuters.com/markets/commodities/trump-reiterate-he-will-stop-us-steel-sale-nippon-2024-08-19/">Reuters</a>. "They shouldn't be allowed to buy it."But just hours before the news dropped of Biden's rejection on Wednesday, US Steel floated closing its steelmaking operation in Pittsburgh and relocating its headquarters out of Pennsylvania — a critical swing state to the 2024 election — if its sale to Nippon falls through.US Steel <a target="_blank" class="" href="https://investors.ussteel.com/news-events/news-releases/detail/692/u-s-steel-employees-to-rally-in-support-of-nippon-steel">warned in a statement</a> on Wednesday that if the deal falls through, there would be major consequences."Without the Nippon Steel transaction, US Steel will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk, negatively impacting numerous communities across the locations where its facilities exist, and depriving the American steel industry of an opportunity to better compete on the global stage," US Steel wrote.US Steel CEO David Burritt put it more simply, telling <a target="_blank" class="" href="https://www.wsj.com/business/u-s-steel-warns-of-plant-closings-if-sale-collapses-4ef45756?mod=hp_lead_pos8">The Wall Street Journal</a> that without the acquisition, the company wouldn't "have the money" to maintain workers' jobs and keep its mills competitive.The company noted in its statement that Nippon had agreed to invest roughly $2.7 billion in facilities in Pennsylvania and Indiana.The statement also highlighted a rally on Wednesday by some Pennsylvania steelworkers, who called on state Gov. Josh Shapiro and other elected leaders to honor the deal.Business groups like the advocacy organization the US Chamber of Commerce have also urged Biden not to block the foreign investment.The White House and US Steel did not immediately respond to requests for comment from Business Insider.

Harris, Trump, and Biden all want to block US Steel's sale. Now the steelmaker is playing hardball in Pennsylvania. 

<ul class="summary-list"><li>US Steel is set to be sold for $14.9 billion to Japanese company Nippon Steel.</li><li>US Steel was founded in 1901 and was once the world's most valuable company.</li></ul>The U.S. Steel Corporation, once America's largest steelmaker and most valuable company, is set to be acquired by Japanese company Nippon Steel for $14.9 billion.Nippon Steel — the world's fourth-largest steel producer — clinched the deal with an all-cash offer, outbidding American steelmakers Cleveland-Cliffs and Nucor, per the <a target="_blank" href="https://www.ussteel.com/newsroom/-/blogs/nippon-steel-corporation-nsc-to-acquire-u-s-steel-moving-forward-together-as-the-best-steelmaker-with-world-leading-capabilities-?_com_liferay_blogs_web_portlet_BlogsPortlet_redirect=https%3A%2F%2Fwww.ussteel.com%3A443%2Fnewsroom%3Fp_p_id%3Dcom_liferay_blogs_web_portlet_BlogsPortlet%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26_com_liferay_blogs_web_portlet_BlogsPortlet_cur%3D1%26_com_liferay_blogs_web_portlet_BlogsPortlet_delta%3D20">company's announcement</a> on Monday.The offer marked a 40% premium over U.S. Steel's closing stock price last Friday. The news triggered a more than 20% surge in U.S. Steel's stock price on Monday.Founded in 1901 by some of America's most influential business magnates — including Andrew Carnegie, Charles Schwab, and J.P. Morgan — U.S. Steel was the world's <a target="_blank" href="https://www.britannica.com/topic/United-States-Steel-Corporation">first corporation</a> to reach a billion-dollar market capitalization. The deal also cemented Carnegie's status as <a target="_blank" href="https://www.carnegie.org/interactives/foundersstory/#!/">America's wealthiest person</a> at the time.The company has seen a gradual decline in the last decades. In 1991, it fell out of the Dow Jones Industrial Average after 90 years on the index of America's 30 most important companies. In 2022, the company was the country's <a target="_blank" href="https://worldsteel.org/steel-topics/statistics/top-producers/">third-largest steel producer</a>, trailing behind rivals Nucor and Cleveland-Cliffs.U.S. Steel's acquisition must still pass regulatory review by the Committee on Foreign Investment. The deal also faces opposition from the <a target="_blank" href="https://www.usw.org/news/media-center/releases/2023/usw-slams-nippon-plan-to-acquire-us">United Steelworkers union</a>, which backed a competing deal by Cleveland-Cliffs.Pennsylvania senator John Fetterman said in an X post on Monday that U.S. Steel's acquisition by a foreign company was <a target="_blank" href="https://twitter.com/SenFettermanPA/status/1736823944861110671?s=20">"absolutely outrageous."</a>Nippon Steel president Eiji Hashimoto <a target="_blank" href="https://www.ussteel.com/newsroom/-/blogs/nippon-steel-corporation-nsc-to-acquire-u-s-steel-moving-forward-together-as-the-best-steelmaker-with-world-leading-capabilities-?_com_liferay_blogs_web_portlet_BlogsPortlet_redirect=https%3A%2F%2Fwww.ussteel.com%3A443%2Fnewsroom%3Fp_p_id%3Dcom_liferay_blogs_web_portlet_BlogsPortlet%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26_com_liferay_blogs_web_portlet_BlogsPortlet_cur%3D1%26_com_liferay_blogs_web_portlet_BlogsPortlet_delta%3D20">said on Monday</a> that his company "has long admired U.S. Steel with deep respect for its advanced technologies, rich history, and talented workforce and we believe we can jointly take on the challenge of raising our aspirations to even greater heights," and added that Nippon Steel would honor U.S. Steel's existing union contracts.

US Steel, the 122-year old company that was once America's biggest, is set to be sold to Nippon Steel

New Delhi, <keyword id="19971670" type="General" weightage="20" keywordseo="JSW-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="JSW Steel" meta.hostid="261" meta.entityid="JSW Steel">JSW Steel</keyword> has posted a 65 per cent fall in consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at Rs 1,322 crore for the March 2024 quarter impacted by <keyword id="21700627" type="General" weightage="20" keywordseo="raw-materials-costs" source="keywords">raw materials costs</keyword> and some other expenses. It had clocked Rs 3,741 crore net profit during the fourth quarter of the last fiscal, the company said in an exchange filing on Friday. The company's total income also fell to Rs 46,511.28 crore from Rs 47,427 crore in January-March FY23. During the period under review, its expenses stood at Rs 44,401 crore, as against Rs 43,170 crore a year ago. Among the expenses, the cost of raw materials consumed by the company surged to Rs 24,541 crore from 23,905 crore in the January-March FY23. While "other expenses" increased to Rs 7,197 crore from Rs 6,653 crore in the year-ago period. In FY24, the net profit rose to Rs 8,973 crore from Rs 4139 crore in FY23. The income for the full year stood at Rs 1,76,010 crore, up from Rs 1,66,990 crore. The board of directors of the company announced a final dividend of Rs 7.30 for FY24. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank">Average housing prices up 10% in Jan-Mar across the top eight cities</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank">Motorola Edge 50 Fusion with 144Hz pOLED display, 5,00mAh battery launched starting at ₹22,999</a>

You Searched For "steel companies" and got 7 results

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

ANI

Tata Group's largest companies by market capitalisation

Kapil Yadav

The fight over US Steel is intensifying, and a top competitor now wants in

Grace Eliza Goodwin

Meet Savitri Jindal: The richest woman in India, with a net worth of $36 billion!

Prerna Tyagi

Harris, Trump, and Biden all want to block US Steel's sale. Now the steelmaker is playing hardball in Pennsylvania.

Grace Eliza Goodwin

US Steel, the 122-year old company that was once America's biggest, is set to be sold to Nippon Steel

Kai Xiang Teo

JSW Steel Q4 net profit falls 65% to ₹1,322 crore

PTI

Popular Keywords

Buying Guides