Steel Mills

Safeguard duty is a temporary tariff barrier imposed by a country to protect its domestic industry from surge in imports

India is already under grave threat of import because all major steel consuming economies are shutting their doors on these steel producing countries, said Alok Sahay, secretary general at ISA

Policymakers worldwide are seeking to reduce carbon emissions in their fight against climate change, with steel traditionally among the most polluting industries

The government is aiming to increase the share of scrap in steel making process to 50 per cent by 2047, Union Minister Jyotiraditya Scindia said on Wednesday. The steel minister emphasised on usage of scrap in steel making as manufacturing the metal through scrap and other waste products is less polluting and termed it as a step "towards green steel initiative". "As per our ministry's vision 2047 document, in the next 25 years, the percentage of scrap will be 50 per cent along with the balance 50 per cent as iron ore," Scindia said at the 11th International Material Recycling Conference in Kolkata. Use of scrap not only reduces the use of natural resources but also cuts emission by 25 per cent in comparison to the primary route of steelmaking, the minister said addressing through a video message. More scrap would be needed in the future to reduce emission and produce green steel and for this to happen there is a need for environment-friendly formal scrapping centres, Scindia ...

Late on Monday, the Indian government imposed an anti-dumping duty on steel wheels used in tyres, from China, in a bid to crack down on predatory pricing

Prices have plummeted some 29% in domestic market after peaking in April

Consumption of iron ore has been hit by China's slumping property market and the country's inability to put the coronavirus behind it.

India's imposition of higher export tax on iron ore and various intermediate products such as pellets will raise costs for steel mills, says Moody's

'Mills are paying more than four times the normal costs for procuring coal from e-auctions and from mines'

The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces

Most companies resorted to exports during April and May to tide over the nationwide lockdown which impacted end-users of steel

Experts believe Q1 will be a complete washout for the sector; assuming subdued activity during monsoons or Q2, revival is only expected towards the second half of FY21

The move is likely to facilitate greater ore availability to steel mills post March 31, 2020 when licences of many merchant mines expire

Demand growth had moderated to 6.4 per cent in April 2019 and ICRA said it was likely to remain lower than the FY19 Q1

Iron ore prices fall in global markets due to oversupply and lower demand resulting from expected fall in steel output in China