ARCELORMITTAL
AMNS India supplied 25,000 MT steel for Chenab Bridge project: Co statement
AMNS India proudly announces its significant contribution to the Chenab and Anji Khad Bridge projects, inaugurated by Prime Minister Narendra Modi. The company supplied 70% of the steel for the Chenab Bridge, totaling 25,000 metric tonnes, and fulfilled 100% of the Anji Khad Bridge's steel needs with 7,000 metric tonnes of customized fabricated structures.
Ahead of Market: 10 things that will decide stock market action on Tuesday
Indian equities closed flat on Monday as IT and metal losses outweighed optimism from strong GDP data. Market consolidation persists amid global tariff worries and geopolitical tensions. Analysts highlight domestic resilience led by institutional flows and select sectors.
European shares start lower after Trump's fresh tariff threats
European shares opened lower on Monday, after rounding off monthly gains in May, as U.S. President Donald Trump's new tariff plans threatened to rekindle global trade tensions.
Markets question how soon Nippon Steel will see gains from $15 billion US Steel bid
Nippon Steel's $15 billion bid for U.S. Steel faces investor scrutiny over financing and potential dilution, despite Trump's backing and job creation promises. Analysts are concerned about the high offer price, additional investment commitments, and U.S. Steel's recent losses, overshadowing long-term strategic goals of overseas expansion and increased global output capacity.
India's steel ministry backs extending import curbs on met coke: Sources
India's steel ministry is leaning towards extending import restrictions on low-ash metallurgical coke, citing sufficient domestic supplies, a move opposed by steelmakers. These companies, including ArcelorMittal Nippon India and JSW Steel, fear the curbs will impede their expansion plans due to difficulties in sourcing preferred grades locally. The Ministry of Commerce will decide next month.
How Nippon Steel’s top negotiator fought sleeplessly to revive $14.9 bn US Steel deal
Nippon Steel's executive, Takahiro Mori, is striving to salvage the $14.9 billion US Steel takeover amidst political hurdles. Despite President Biden's initial block, Trump now signals support, potentially saving jobs and investments. Mori's persistent efforts, including numerous US visits and meetings with local leaders, have been crucial.
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Trump says US will control US Steel as part of Nippon deal
Donald Trump asserted that the United States would maintain control over U.S. Steel despite its partnership with Nippon Steel, emphasizing the deal's benefits for American jobs and investment. Nippon Steel's $14 billion investment, including a new steel mill, aims to create 70,000 jobs. Trump assured that relevant lawmakers supported the agreement, ensuring U.S. control over the merged entity.
Nippon Steel shares climb after Trump offers support for U.S. Steel deal
Nippon Steel's shares saw a surge in Tokyo. This followed Donald Trump's backing of their bid for U.S. Steel. Trump highlighted the deal's potential to create jobs and boost the U.S. economy. U.S. Steel shares also jumped significantly. The deal is crucial for Nippon Steel's global expansion. It aims to increase production amid declining domestic demand.
Ashok Leyland to Diageo, top corporates bet big on Andhra Pradesh
Since N Chandrababu Naidu's return as chief minister, Andhra Pradesh has successfully attracted significant investments from companies like Ashok Leyland and ReNew, along with alcohol majors. The state government's new policies and streamlined clearances have played a crucial role in winning back leading corporates. ReNew is now building India's largest hybrid power project in Anantapur.
Lakshmi Mittal buys luxury mansion in Dubai's Emirates Hills
India-born billionaire Lakshmi Mittal has purchased one of Dubai’s most expensive homes in the upscale Emirates Hills community, often called the “Beverly Hills of Dubai.” The Baroque-style mansion, once listed for $200 million, sold for about half that amount earlier this year. The acquisition ranks among the priciest residential deals in the city’s booming property market.
India Inc taps law firms' pros to make legal their strong suit
Indian companies are increasingly recruiting senior lawyers from top-tier law firms to head their in-house legal teams, driven by growing regulatory complexities and business risks. This trend reflects a strategic shift towards leaders with strong legal expertise, risk management skills, and business acumen. These roles offer lucrative compensation packages, highlighting the elevated importance of legal departments as strategic assets.
ArcelorMittal begins clean energy supply from 1-GW Andhra project to AMNS India
ArcelorMittal has commenced supplying clean energy to AMNS India in Gujarat from its newly commissioned 1-gigawatt solar and wind project in Andhra Pradesh. This $0.7 billion venture, developed by AM Green Energy, aims to reduce AMNS India's carbon emissions by 1.5 million tonnes annually.
ArcelorMittal tops views on first-quarter core profit
ArcelorMittal exceeded first-quarter core profit expectations, boosted by strong performance in Liberia, reporting $1.58 billion in EBITDA. CEO Aditya Mittal expressed caution regarding the short-term outlook, citing trade uncertainty impacting business confidence and potentially disrupting economic growth.
Odisha govt is offering better compensation to speed up land acquisition: Hemant Sharma
The state government has identified new locations near Bhubaneswar and Jharsuguda to address the growing industrial land demand, says Hemant Sharma, Additional Chief Secretary, Industries & MSME, Odisha.
India imposes 12% safeguard duty on some steel products imports for 200 days
India has implemented a 12% safeguard duty on specific steel products to control excessive imports, as indicated by a government notification. This action follows a recommendation by the Directorate General of Trade Remedies, prompted by concerns that increased imports are negatively impacting India's domestic steel industry.
Metal stocks surge up to 3% as India imposes 12% safeguard duty on steel imports for 200 days
The Indian government has imposed a 12% provisional safeguard duty on specific steel products for 200 days to address a surge in imports. This decision follows a recommendation by the Directorate General of Trade Remedies after a probe initiated by a complaint from the Indian Steel Association. The investigation revealed a significant increase in imports, potentially harming domestic steel producers.
Five steel goods face 12% safeguard duty
India has imposed a 12% provisional safeguard duty on select steel products, effective for 200 days, to protect domestic producers from a surge in cheap imports, particularly from China. This action follows industry complaints and a recommendation by the Directorate General of Trade Remedies. The move aims to ensure fair competition and support the long-term sustainability of India's steel sector.
India to put 12% temporary tariff on steel to curb cheap China imports, source says
India is poised to impose a 12% safeguard duty on steel imports to counter a surge of inexpensive steel, primarily from China. This move follows recommendations from the Directorate General of Trade Remedies, prompted by concerns that rising imports are harming the domestic steel industry.
MNC units step up hiring for in-house legal teams
Multinational corporations' Indian subsidiaries are bolstering their in-house legal teams amid a shifting regulatory landscape and increased deal activity. This expansion is fueled by a greater emphasis on ESG, strategic market growth, and the need to navigate complex geopolitical and trade dynamics.
ArcelorMittal Nippon Steel JV draws up big new plan for India, lines up Rs 2.6 lakh crore
ArcelorMittal Nippon Steel (AM-NS) is readying a massive $30-billion investment in India over the next decade, aiming to boost steel production capacity to 40 MTPA. This expansion is fueled by a positive outlook on India's infrastructure and automobile sectors as the JV seeks to capitalise on the country's lower per capita steel consumption compared to global leaders.
ArcelorMittal Nippon India to go green steel in a big way
ArcelorMittal Nippon Steel (AM/NS) India aims for 70% green steel production at its Hazira plant by 2027, aligning with India's green steel vision. This expansion, requiring a Rs 60,000 crore investment, targets 15.6 mtpa capacity with three-star green rating. Amidst US tariffs, calls for domestic steel industry protection are growing, with concerns about import surges.
Steel Ministry ramps up efforts to boost domestic scrap supply amid global export curbs
India’s steel ministry is coordinating with other ministries to boost domestic steel scrap supply amid potential EU and US export restrictions. With India importing over 25% of its scrap needs, officials aim to tap high-scrap sectors like engineering, shipbreaking, and consumer goods. Industry leaders stress the need to shift focus from autos—offering limited gains—to broader sectors and to expand shipbreaking operations to meet growing demand.
Andhra Cabinet approves Rs 1.35 lakh cr ArcelorMittal Nippon steel plant
The Andhra Pradesh Cabinet has approved a proposal for the establishment of a 17.8-million-tonne ArcelorMittal Nippon Steel India (AM/NS India) steel plant worth Rs 1.35 lakh crore. The project will be executed in two phases, generating employment for 20,000 people by 2029. The Cabinet also sanctioned multiple measures to support Vizag Steel Plant and promote the hospitality sector.
ArcelorMittal Nippon Steel starts buying land to build plant in Andhra
ArcelorMittal Nippon Steel India has started acquiring land in Rajayapeta, Andhra Pradesh for a new 17.8 million tonne steel plant. The project, costing ₹1.40 lakh crore, will begin with an initial capacity of 7.3 million tonne, funded by ₹80,000 crore. This is the first major greenfield steel plant in India since 2016.
ArcelorMittal Nippon sues India over raw material imports as fight escalates
ArcelorMittal Nippon Steel India has sued the Indian government for rejecting met coke import orders due to new curbs. The company claims the policy is applied retroactively, affecting production and financial stability. The Delhi High Court is to respond to the company's plea. Another steel giant, JSW Steel, has also filed similar grievances.
ArcelorMittal gets EC nod to sell European steel assets to Liberty House
ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 17 countries.
ArcelorMittal says may pay off dues of Uttam Galva as a 'goodwill gesture'
The Committee of Creditors (CoC) had yesterday met representatives of ArcelorMittal and Numetal which are in the race to acquire the stressed asset regarding their eligibility.
ArcelorMittal & IMETAL agree to restructure shareholdings
The two cos have reached an agreement to restructure the shareholding of ArcelorMittal Algeria, ArcelorMittal Pipes and Tubes Algeria and ArcelorMittal Tébessa.
ArcelorMittal announces sale of Skyline Steel, Astralloy to Nucor Corporation for $605 million
The transaction includes 100% of ArcelorMittal’s stake in Skyline Steel’s operations in the NAFTA countries and the Caribbean.
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