The shares of Tata Steel have increased the most in more than a week mainly due to higher alloy prices and lower input costs.

The investors believed that these factors would help compensate for the loss of from writing down inventory. The shares of the company rose 4.8 percent, which is its highest gain since 1 February to the level of Rs. 471.80 in the early morning trade this morning.

Shares of Tata steel have risen 41 percent this year, compared to a 16 percent in the benchmark, Sensex of the Bombay Stock exchange (BSE).

Kiev, Jan 24 - Ukraine boosted its production of crude steel by 5.7 percent to 35.3 million tonnes in 2011, said a report by the World Steel Association (WSA).

Ukraine is the world's eighth largest steel producer, according to the report.

The world's crude steel production reached 1.527 billion tonnes in 2011, increasing by 6.8 percent year on year, reported Xinhua citing a media report.

China was the world's top steel maker in 2011, with a production of 695.5 million tonnes.

Beijing, Jan 23 - China's crude steel output increased 8.9 percent year-on-year to 683.27 million tonnes last year, 0.4 percentage points slower than the growth rate of 2010, according to the latest data provided by the country's top economic planner.

Last year's steel output helped China secure its title as the world's largest steel producer.

The holding company of the mammoth Tata group, Tata Sons has increased its stake in group’s steel business, Tata Steel after they converted 1.2 crore warrants into equal number of shares for Rs 712.8 crore.

Tata Steel said in a filing with the Bombay Stock Exchange (BSE) that, "Tata Sons vide their letter dated January 20, 2012 has exercised the option to convert 1.2 crore warrants into ordinary shares of the company at a price of Rs 594 per share."

Global steel producers are now starting to slam on the brakes in response to dimming short-term prospects for demand. Annualised global steel output slumped to 1,405 million tonne in November, the lowest level this year, according to the World Steel Association.

Year-on-year growth slowed sharply to just 1.1% from 6.2% in October, while capacity utilisation slid to a two-year low of 73.4%. Weak production trends have been evident for some time in Africa and Oceania, reflecting political upheaval across North Africa and a wholesale restructuring of Australian producer Bluescope's operations. In Africa, cumulative production fell 15% in January-November. In Oceania, it fell 9% over the same period.

Jindal Steel & Power announced its quarterly results on Tuesday and posted a smaller decline in quarterly profit than market expectations.

The Naveen Jindal-led posted marginal decline in consolidated net profit to Rs. 891.80 crore for the quarter compared to Rs. 894.24 crore for the same quarter a year ago. The decline is mainly due to increased expenditure on raw materials, interest payments as well as a one-time exceptional item.

The government wants the state-owned Steel Authority of India Ltd (SAIL) to partner South Korean steel giant, Posco in its proposed $12-billion steel plant in the Indian state of Orissa.

Mr Beni Prasad Verma, the Steel Minister informed Posco officials here on Wednesday that it wants SAIL to become a part of the project, which has faced severe hurdles and delays. Y. W. Yoon, Chairman and MD, Posco India Pvt Ltd has said that he will convey the government's intention to the board of Posco.

In today’s trade, gains in European shares and higher US index futures have played a role to aid recovery in battered Indian shares where the BSE Sensex was observed up 129.51 points or 0.8%, up 224.70 points from the day's low and off 32.82 from the day's high.

In addition, the owner of the world’s largest refining complex, Reliance Industries Ltd was found to be at higher level in volatile trade and majority of metal stocks increased after a gauge of six metals traded on the London Metal Exchange jumped 0.51%, on Friday.

The Managing Director of Tata Steel, Mr. H M Nerurkar, has revealed that the demand for domestic steel may rise around 9% in this financial year and the expected GDP development will be around 7%.

He notified that the rates were expected to stay stable; however, the cost can vary by Rs 1,000 per tonne for a short period. Also, the country will linger, as a net importer of steel in spite of the growth in other markets.

Despite 20% jump in sales, high material costs have dipped the Q1 net profits of Steel Authority of India Ltd. (SAIL) by 29 per cent to Rs. 838 crore. In a statement recently, SAIL also said that the company earned a net profit of Rs. 1,177 crore in the same quarter last fiscal.

In its statement, the company also highlighted that during the quarter only, the company had spent an additional expenditure of nearly Rs. 580 crore on cost of coal. Out of which, Rs. 422 crore was spent on higher cost of imported coking coal.

Steel Minister Beni Prasad Verma has been dissatisfied with the Steel Authority of India’s (SAIL) organization of the modernization programme.

SAIL has been working on its West Bengals, 3 mt Greenfield Plant at Burnpur and the work has already been delayed by 6 months along with the increase in cost from Rs. 14,443 crore to Rs. 16,408 crore.

The shares of steel fabrication firm, Readymade Steel India, were listed on the Bombay Stock Exchange today at Rs. 115 per share. The shares rose about 6.48% from their issue price of Rs. 108 a share on the BSE in the opening trade. Readymade Steel had already raised Rs. 34.75 crore through the IPO.

Soon after the listing, the shares of the Company came under heavy pressure and declined 36.5% from the issue price when markets closed and were traded at Rs. 68.55.

The Pohang Iron and Steel Company’s project, also known as POSCO has been adjourned by the Orissa government due to the objection shown by the local personnel and the heavy rains.

The POSCO has proposed US$12bn steel plant in the state. Since past six years, this proposal by the South Korea's POSCO, the world's third-biggest steelmaker company has been in theory and the villagers protest is again a setback for the company. The contract of the project was signed in 2005 and the project was facing a lot of examination. However, the Environment Ministry in New Delhi has given it a clean chit.

JSW Steel registered an increase of 32% in its Q4 total sales to Rs 7,209.35 crore upon the robust domestic demand as well as continuous focus on retail sales. However, the net spending witnessed the bottom line of the company going up at a less-than-proportional rate.

JSW Steel’s Q4 (January-March) total profit went up by 30% to reach Rs 794 crore. According to the steel maker, an improved product-mix along with increased quantities was the main reason behind the strengthened performance of the company in the final quarter of the fiscal year 2010-11.

Mumbai, May 16 : Indian steel major JSW Steel Monday posted a 16 percent increase in its net profit at Rs. 832.66 crore for the quarter ended March 31 as against Rs. 716.95 crore during the like period of the previous fiscal.

The net sales rose 36 percent for the quarter under review at Rs. 7,032.07 crore as against Rs. 5,167.07 crore during the same period of the previous fiscal, the company said in a regulatory filing.

Technical analyst Jai Bala of cashthechaos. com has maintained 'buy' rating on Steel Authority of India Limited (SAIL) stock to attain an intraday target of Rs 172.

According to analyst, the investors can buy the stock with trailing stop loss of Rs 165.

The stock of the company, on April 27, closed at Rs 167.30 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 13.22 and 12.49 respectively.

The share price has seen a 52-week high of Rs 234.10 and a low of Rs 152.50 on BSE.

Technical analyst Prakash Gaba has maintained 'buy' rating on JSW Steel Limited stock to attain a target of Rs 1000 in 1-2 trading sessions.

According to analyst, the investors can buy the stock with trailing stop loss of Rs 970.

The stock of the company, on April 25, closed at Rs 978.30 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 84.93 and 11.44 respectively.

The share price has seen a 52-week high of Rs 1400 and a low of Rs 790 on BSE.

Jindal Steel and Power has recorded an increase of 4% in its consolidated net profit, which stood at Rs 1,001.7 crore for the fourth quarter ended March 31.

The company's consolidated turnover for the three month period under review grew by 21% to Rs 3,854.54 crore.

JSPL's total expenditure remained at Rs 2,461.55 crore for Jan-Mar period as compared to Rs 1,919.89 crore during the same period of 2010.

Director and group CFO Sushil Maroo statedd, "The rise in the profit and the turnover is mainly because of the contribution from the steel business."

Technical analyst Anu Jain has maintained 'buy' rating on Tata Steel Limited stock.

The analyst said that the interested investors can buy the stock above Rs 630 to achieve a target of 648-650.

The stock of the company, on April 20, closed at Rs 625 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 713.80 and a low of Rs 448.65 on BSE.

Current EPS & P/E ratio stood at 78.28 and 8.05 respectively.

Technical Analyst Parsh Zaveri of Zaveri Investment has maintained 'buy' rating on Jindal Steel & Power Limited (JSPL) stock with a target of Rs 698.

Mr. Surekha said that the stock can be purchased with a stop loss of Rs 673.

The stock of the company, on April 20, closed at Rs 677.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 754 and a low of Rs 610 on BSE.

Current EPS & P/E ratio stood at 21.04 and 32.79 respectively.