Page 7 - Iron And Steel Industry

Import of iron, steel items need mandatory registration under SIMS: Govt

The mandatory registration was earlier imposed on about 300 items. Now about 530 more products have been added

Cut import dependence for special grade steel, boost R&D: Govt to industry

The government on Thursday stressed the need to cut import dependence for special grade steel, exhorting the domestic players to go for research and development activities and take required measures to make India self-reliant in value-added steel production. Union Minister of State for Steel Faggan Singh Kulaste, while speaking at a Ficcci event, said though the country is the second largest producer of crude steel in the world, it is purely dependent on imports for special grade steel. Value added steel or special grade steel is used in segments like power, ship, rail, metro, defence, auto etc. Kulaste asked steel makers to identify those grades of steel which are not manufactured in the country and are widely used and develop them in India. He said the industry players can conduct research and development (R&D) activities, go for transfer of technology or form Joint Venture to set up special grade steel plants in the country. This will help India become 'Aatmanirbhar' in ...

Iron ore prices surge, but export curbs play spoilsport for Indian firms

An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage

NMDC board okays demerger of three-mn-tonne Chhattisgarh steel plant

The plant is the only greenfield project slated for commissioning in the near term. Sources said it would have been commissioned by now had it not been for Covid-19

Help govt in providing low-cost homes for migrants: Pradhan to steel firms

Pradhan said the government has set a target of providing 100,000 such houses, but the industry should build many more steel-intensive, low-cost houses, which will be a model for others to emulate

Improving realisations may help steelmakers forget Covid-19 memories

Improving realisations and cheaper raw material should help profitability, though domestic demand is yet to reach pre-Covid levels

Indian steel firms race to plug demand gap in China amid Covid-19 crisis

Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.

No uniform policy a big hurdle for production: AMNS India CEO Dilip Oommen

Infrastructure steel consumption has not picked up yet. Some steel consuming segments like auto have started their production. Full revival will take some time, says Dilip Oommen

Liquidity, labour and logistics are the key challenges: JSW Steel's Rao

Ensuring return of labour as important as sending them back home, says Seshagiri Rao

Covid-19 crisis: Slippages may jump to Rs 5.5 trillion, says India Ratings

Credit costs could touch Rs 2.7 trillion

Life after lockdown: Ramping up isn't easy with curbs, labour shortages

The first of a three-part series looks at how manufacturing units are gearing up to the new normal

Covid-19 impact: AMNS India's March operations take a hit due to lockdown

The company said that it had moved to match production with the evolving orderbook; steel shipments for 2Q 2020 were expected within the range of 13.5 million tonnes to 14.5 million tonnes

Ferrous metals headed for subdued start in FY21 due to dip in auto demand

Analysts believe that strict quarantine measures to enforce lockdown will lead to demand erosion even though the supply side is facing relatively lower disruptions

Coronavirus lockdown: SAIL rings alarm bells over financial position

Impacted by customers in various sectors shutting operations

UP allows 9 industries to operate at 50% capacity amid Covid-19 lockdown

These industries include cement, steel, chemical, textile barring garments, foundries and a few others

As coronavirus epidemic spreads, Indian steel industry may have a meltdown

Coronavirus is likely to keep up the pressure on Indian domestic steel prices in the near term

Govt taking steps to meet input challenges in steel sector: SAIL chairman

Issues include iron ore allocation, coking coal crunch and high cost of producing steel in India

Steel, iron ore companies likely to add 13 mt of capacity by FY22

While 13 mt is likely to be the addition in the next two years, by FY25, the ministry is expecting 28-30 mt from the current planned capacity expansions of existing players

Govt steps post-budget and festive season will boost demand: JSW Steel

Since the past few quarters, the steel sector has been hit badly due to the slowdown in real estate, auto and infrastructure sectors

Global iron ore prices at five-year high, but India fails to cash in

By failing to extend the zero export duty benefit on higher grade ore, Indian miners could not cash in on supply shocks and rising Chinese demand