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Coronavirus pandemic may impact steel makers’ performance in Q1 FY21: ICRA – ET Auto

on March 28, 2020

The key demand drivers construction and infrastructure sectors besides the automobile and capital goods sectors, continue to witness muted or negative growth due to coronavirus pandemic. New Delhi: The performance of Indian steel players is likely to be affected in the first quarter of 2020-21 due [...]

JFE to cut 13% steel capacity by March 2024, predicts record loss – ET Auto

by admin

on March 28, 2020

JEE slashed its full-year earnings forecast, predicting a record $1.75 billion in net loss. TOKYO: JFE Holdings Inc, Japan's second-biggest steelmaker, said on Friday it would cut its steel capacity by 13% by shutting a blast furnace by March 2024 due to weakening demand from manufacturers hit by [...]

COVID-19 lockdown impact: Auto component industry takes a hit of Rs 1000-1200 crore each day – ET Auto

by admin

on March 27, 2020

ACMA claims that over 1 lakh contractual employees have already been paid their salary for the month of March. New Delhi: Due to 21-day nationwide lockdown in the wake of coronavirus outbreak, the domestic auto component industry is suffering a loss of around Rs 1,200 crore per day, the industry [...]

Collapsing auto sector a body blow for industrial metals – ET Auto

by admin

on March 27, 2020

Car sales were already weak globally. The coronavirus will cause them to implode, a second tail-wind demand hit for metals. By Andy HomeLONDON, - France's Recylex has just announced the temporary closure of both its German lead smelter and two battery-recycling plants, one in Germany and one in [...]