Page 6 - Steel Industry

Govt may mandate public procurement of 25% sustainable green steel

Ashwini Kumar, economic advisor to the Ministry of Steel, confirmed that public procurement would play a key role in creating a market for low-emission steel

The world has too much steel, but no one wants to stop manufacturing it

Excess steel production is estimated to reach 721 million tons by 2027, according to the Organization for Economic Cooperation and Development

Lloyds Metals aims to invest over ₹40,000 crore more in Gadchiroli

Lloyds Metals and Steel is targeting to invest over Rs 40,000 crore to develop a steel plant and other units in Vidarbha's Gadchiroli district over the next five years, a top official said on Tuesday. The law and order situation in the eastern Maharashtra district impacted by Left Wing Extremism (LWE) is improving, and attempts are essential to mainstream the youth, its managing director B Prabhakaran told PTI over the phone. Chief Minister Devendra Fadnavis, who is also the guardian minister of the district, inaugurated a 90-km pipeline and a pellet plant built by the company in Gadchiroli earlier in the day. "We have a Rs 45,000 crore investment plan for the district, of which Rs 5,000 crore has already been invested," Prabhakaran, who calls himself the 'managing director in residence', said. When asked how it will fund the capital expenditure in Gadchiroli, Prabhakaran said it will depend on internal accruals and also raise fresh funds if need be. He reminded that last year, it

JSW Steel has good prospects on lower costs but stock fully valued

Revenue growth could come from volumes along with some price recovery. As input costs are soft, EBITDA margin may rise to 18-19 per cent if safeguard duty is in force

Port Talbot's green furnace marks end of costly firefighting for Tata Steel

Port Talbot, Tata Steel's upstream steelmaking facility in South Wales, had largely been a drag on the company's bottom line since it acquired Anglo-Dutch steelmaker Corus in 2007

JSW Steel Q1 results: Profit up over 2x on volumes, low coking coal cost

The firm's total revenue, on a consolidated basis, increased 0.5 per cent to ₹43,147 crore from ₹42,943 crore last year. The Bloomberg estimate for revenue was ₹43,004 crore

AM/NS India commissions auto steel line at Hazira plant to reduce imports

Hazira facility can produce high-strength steel of up to 1,180 MPa for automotive use; part of Rs 8,500 crore expansion to lift downstream capacity to 5 mt

Switch to green steel in India will take decades, say industry leaders

Industry leaders have called for a gradual, step-by-step transition to green steel, urging supportive government policies and a focus on reducing emissions as part of India's sustainable growth agenda

Steel industry calls for safeguard measures to protect local players

Calling for protectionist measures to check cheap steel imports, Jindal Stainless Managing Director Abhyuday Jindal on Thursday said that the country has sufficient steel production capacity to meet the local demand. Jindal also said that in addition to the US and Europe, countries with very low steel production are also adopting protective measures. It is very important to protect "our country," Jindal said while addressing an Indian Chamber of Commerce's event here. "The US has done it, Europe has been doing it for quite some time. Now, nations like in the Middle East, where there is not much steel production, Canada, where there isn't much steel production, are also going for some kind of protectionist measures," Jindal, who is also the President of the Indian Chamber of Commerce, said. Jindal also appreciated the steps taken by the government to safeguard the interest of the domestic steel industry. "There was substandard, Chinese material coming in (through) from Vietnam...Ou

Tata Steel expects UK unit to turn EBITDA-positive in FY25 amid green shift

Tata Steel eyes turnaround in UK with green steel plans as chairman Chandrasekaran confirms ₹15,000 crore annual capex and targets 40 mt capacity in India

Apr-May finished steel imports fall 27.6% as China, Japan shipments decline

India was a net importer of finished steel during the period, with exports falling 18.1 per cent year-on-year to 0.8 million metric tonnes

Tata Steel gets show cause notice worth ₹1,007 cr over input tax credit

Tata Steel receives ₹1,007 crore GST notice for alleged input tax credit irregularities from FY19 to FY23; company says ₹514 crore already paid

Steel ministry's order on compliance for inputs can hurt downstream users

The latest order gives a table listing 144 steel items with their IS and the inputs and their IS for making 124 of those items

Arisinfra Solutions subscribed 2.6x; Sambhv Steel prices IPO at ₹77-₹82

Sambhv Steel IPO is a mix of fresh issue of equity shares valued at ₹440 crore and an offer for sale of shares worth ₹100 crore by promoters

Clean tech no longer a choice but a necessity for steel sector: Kumaraswamy

Adopting low-carbon emitting technologies to produce green steel is no longer a choice but a necessity, Union Minister H D Kumaraswamy said as he emphasized on the urgency for taking steps towards decarbonisation. The Minister for Steel made the remarks addressing 'BigMint Future Steel Conclave' organised with a focus on innovation and usage of emerging technologies in the steel sector. The green steel taxonomy is shaping up well to provide clear guidance and incentives. Green steel and clean technologies are no longer a choice but a necessity, the minister said in a virtual address on Wednesday. "Under the visionary leadership of Prime Minister Narendra Modi our steel industry is on a fast track with the bold target of reaching 300 million tonnes capacity by 2030. Our commitment is not only expansion but also sustainability in line with our net zero by 2070 pledge," Kumaraswamy said. In December 2024, the government came out with the definition of Green Steel and urged the industr

Tata Steel plans to commission UK electric arc furnace unit by 2027

"Using recycled scrap, the new (Port Talbot plant) steelmaking facility will reduce the on-site carbon emissions by up to 90 per cent," the company said in its annual report

Spike in steel tariffs could imperil Trump promise of lower grocery prices

President Donald Trump's doubling of tariffs on foreign steel and aluminum could hit Americans in an unexpected place: grocery aisles. The staggering 50 per cent levies on those imports took effect Wednesday, stoking fear that big-ticket purchases from cars to washing machines to houses could see major price increases. But those metals are so ubiquitous in packaging, they're likely to pack a punch across consumer products from soup to nuts. Rising grocery prices would be part of the ripple effects, says Usha Haley, an expert on trade and professor at Wichita State University, who added that the tariffs could raise costs across industries and further strain ties with allies without aiding a long-term US manufacturing revival. Trump's return to the White House has come with an unrivaled barrage of tariffs, with levies threatened, added and often taken away, in such a whiplash-inducing frenzy it's hard to keep up. He insisted the latest tariff hike was necessary to even further secure

US tariffs on steel, aluminium to have minor impact on India, says minister

Steel and Heavy Industries Minister HD Kumaraswamy's reaction comes even as industry leaders have raised concerns about potential trade diversions due to Trump tariffs

Steel & ferro-alloy industry seeks Bengal CM's help over power tariff hike

Trade bodies in West Bengal's steel sector urge CM Mamata Banerjee to intervene as a steep power tariff hike by DVC threatens operations, jobs, and the survival of crucial industrial units in state

JSW Steel eyes Mongolia coking coal, cites logistics as key challenge

JSW Steel is keen to source coking coal from Mongolia but the company sees challenges from logistics point of view, a senior executive of the steel major said. Mongolia has been on the company's radar for exploring as a supply partner, but there are logistical challenges because it is a landlocked country, Arun Maheshwari, Director (Commercial & Marketing), said during an investor call. "As of now, we have not been able to take any quantity out of Mongolia," he said in reply to a question about sourcing coal from Mongolia. He said the challenge remains even if transportation is explored via countries in the neighbourhood of Mongolia like Russia and China. "(Coking coal) ...coming via Russia ...it is already very congested, and taking route from China is also a logistical constraint as of today," Maheshwari said, adding the company will continue to explore Mongolia as a source. "Our sourcing from Australia, Russia and US, Mozambique, Indonesia has been for long. So, it will ...