Page 4 - Steel Producers

Govt launches 3 SRTMI initiatives to promote in R&D in steel making

The schemes were launched at the 'Catalysing R&D in the Indian Steel Sector' sector event, organised by the Ministry of Steel in the national capital

Amid trade spat, Trump doubles tariffs on Canadian steel, aluminium to 50%

Trump said that his administration will substantially increase tariffs on cars coming into the US on April 2, if other tariffs are not dropped by Canada

Nomura bullish on Indian steel industry; maintains 'Buy' on JSW Steel, JSPL

Nomura has set a target price of Rs 1,220 and Rs 1,080 for JSW Steel and JSPL, respectively.

US tariffs may flood India with cheap Chinese steel, warn industry experts

The imposition of tariffs by the US on imports from Mexico, Canada and China will affect the Indian steel industry as the country will become the natural target for cheap Chinese steel at a time when local players are undergoing a major capacity enhancement phase, industry experts said. The Trump administration imposed 25 per cent tariffs on imports from Mexico and Canada on Tuesday. The US also doubled the tariff on all Chinese imports to 20 per cent. "USA under the new President has announced new tariffs on China, Mexico and Canada. China is a major steel exporter to the USA. The recently announced US tariffs on steel imports from China means that this export will become unviable and surplus steel will be seeking new markets," former President of Indian Stainless Steel Development Association (ISSDA) Karan Pahuja said. "India becomes the natural target for cheap Chinese surplus steel at a time when it is undergoing a major capacity enhancement phase. The Indian steel industry is .

Tata Steel seeks safeguard duties on imports amid US tariff concerns

Tata Steel's managing director TV Narendran on Tuesday pitched for safeguard duties on steel imports to protect the domestic steel industry from the indirect impact of US tariff hikes. He said many countries have initiated similar actions on steel imports, pointing out that the last three days have seen Vietnam imposing an anti-dumping duty on Chinese steel imports, and South Korea has also taken a similar decision. "We are asking for safeguard duties, which can be imposed immediately to help us," Narendran told reporters on the sidelines of the tech industry lobby grouping Nasscom's annual event NTLF here. After assuming office as the US President last month, Donald Trump ordered a 25 per cent import tax on all steel and aluminium entering the US and ended exemptions given to Canada and European steel earlier. Narendran said the Indian Steel Association has already made a submission to the government for safeguard duty, and added that it has pitched for a safeguard duty instead of

India remains net importer of steel in Apr-Jan; imports surge over 20%

India stayed net importer of steel with the inbound shipments rising over 20 per cent to 8.29 million tonnes during the April-January period of this fiscal, official data showed on Friday. The country had imported 6.89 million tonnes (MT) of steel in the 10-month period of 2023-24 financial year. "India was a net importer of finished steel. Import of finished steel was at 8.292 MnT, with a year-on-year (y-o-y) growth of 20.3 per cent," according to the data. Against imports, exports have shrunk to 28.9 per cent to 3.994 MT during the said period compared to 5.619 MT in April-January period of preceding fiscal year. Steel and stainless steel industry players have been consistently raising the issue of import with the government, claiming the surge in inbound shipments from select group of countries including China has affected their competitiveness. Recently Steel Secretary Sandeep Poundrik said that India needs to add 100 million tonnes (MT) of steel making capacity by 2030 on ...

JSW to invest Rs 1 trn in Maha's Gadchiroli for world's largest steel plant

The investment will be spread over the next seven to eight years. It can be one of the most ambitious projects in India's steel sector

Govt unveils Rs 20,000 cr plan to hike SAIL's Bokaro plant capacity

Union Minister H D Kumaraswamy on Monday unveiled a Rs 20,000-crore expansion plan for domestic steel giant SAIL's Bokaro Steel Plant (BSL), which will augment its capacity to 7.55 million tonnes per annum (MTPA). The Bokaro Steel Plant, established in 1965, with the first blast furnace operation in 1972, initially had a capacity of 1.7 MTPA. "Union Minister of Steel and Heavy Industries H D Kumaraswamy visited Bokaro Steel Plant where he unveiled an ambitious expansion plan to increase production capacity. With an investment of Rs 20,000 crore, the brownfield expansion aims to increase hot metal production from the current 5.25 MTPA to 7.55 MTPA, thereby strengthening India's momentum towards Aatmanirbhar Bharat in the steel sector," SAIL said in a statement. Apart from increasing production , the expansion plan will create 2,500 permanent jobs and 10,000 indirect jobs, it said. "The plant is now set for a massive overhaul with a new 4,500 cubic metre blast furnace, a thin slab ..

Vedanta creditors likely to meet in February to approve business split

Vedanta plans to divide its business into units focused on aluminum, oil & gas, power, steel and finally semiconductors, which will be left in the original business with electronics and copper assets

Proposed steel import duty may drive prices higher in 2025: CRISIL

In 2024, domestic steel prices fell, influenced by higher net imports

JSW Steel's $50 billion Mozambique coal deal frozen amid legal dispute

JSW Steel Ltd. run by Sajjan Jindal - agreed in May to buy Minas de Revuboe from the estate of Ken Talbot, an Australian mining tycoon

Rise of US Steel paralleled arrival of United States on world stage

President Joe Biden blocked the USD 15 billion acquisition of US Steel by Japan's Nippon Steel on Friday something he had first vowed to do in March. His decision comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the possible national security risks of the deal last month. The rise of US Steel, a storied American company, runs parallel to the arrival of America on the world stage. With roots dating to the late 19th century, US Steel has produced the materials used for everything from the nation's bridges and skyscrapers, to its tanks and battleships. Following is a brief history of the company. The origins of a manufacturing giant What eventually became the largest corporation in the world was created by J.P. Morgan and others who financed the merger of Andrew Carnegie's Carnegie Steel Co. with rival Federal Steel at the start of the 20th century. It instantly became the world's first USD 1 billion company. In 1907

GTRI calls for assessment of steel industry before imposing safeguards

Economic think tank GTRI on Thursday called for a comprehensive assessment of the Indian steel industry to evaluate the impact of existing import measures before imposing the proposed safeguard duty. The Global Trade Research Initiative (GTRI) report has also claimed that the commerce ministry's ongoing safeguard investigation into alleged jump in imports of certain steel products suffers from "several" technical weaknesses such as focus on products with minimal import surges, and inappropriate use of global safeguards. The report has stressed that any new measures should be based on a clear understanding of the implications of existing measures for the industry and the broader economy. "Conduct a study on the state of the steel industry in India and assess the impact of proposed and existing import measures on resulting higher costs, economic growth and jobs. Take any new action after this assessment," GTRI Founder Ajay Srivastava said. He said that the current system comprising .

Global steel cos struggling for profits, demand up in India: Tata Steel CEO

Tata Steel CEO and managing director TV Narendran on Wednesday said while the global steel sector is struggling to generate profits due to factors such as China's aggressive pricing, the demand for the metal and its consumption in India is growing. Addressing a gathering at a New Year cake-cutting event here, Narendran said 2023 and 2024 have been difficult for the sector globally because of compression in steel margin and a continued struggle to make profits, particularly due to the curbs imposed in China during COVID. On global conflicts, he said events happening in various parts of the world have direct or indirect impacts on India. However, the most significant challenge the country faces is the slowdown in China, where recovery is yet to materialise. Narendran expressed concern over China's unfair competition, urging the Indian government to take steps to safeguard domestic industries. Despite these challenges, he assured that Tata Steel is well-positioned and profitable in Ind

FinMin rejects the plan to establish body for procuring green steel

Says most steel for projects is purchased indirectly through contractors rather than the govt

Year in review: 5 important regulatory changes by Indian govt in 2024

Addressing diverse areas ranging from patent processes to frameworks for AI regulation, the Centre introduced several significant regulatory changes in 2024

Tata Steel engages with NMDC, OMC to secure iron ore needs for future

Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its domestic steel manufacturing capacity. Tata Steel will also operationalise two new iron mines namely Kalamang West and Gandalpada as part of its strategy to ensure raw material security, the company's Vice President, Raw Material, D B Sundara Ramam told PTI. At present, Tata Steel meets its entire demand for iron ore, a key raw material used for manufacturing steel, from six iron ore mines operated by the company in Odisha and Jharkhand. Ramam said raw material plan has been carved out as leases of four mines -- Noamundi iron ore mine (being operated since 1925), Katamati and Khondbond (since 1933) and Joda East (1956) -- are expiring in March 2030. While two other mines NINL (Mithirda) and Vijay II will continue to remain operational. The mines came along acquisition of NINL plant and Usha Martin's steel business, he .

Capacity utilisation of domestic steel may hit 4-year low in FY25: ICRA

Following the post-Covid metals rally, the domestic steel industry was able to achieve the "impossible trinity" of maintaining above 80 per cent capacity utilisation rates

Govt may soon decide whether to curb steelmaking raw material imports

The trade ministry's Directorate General of Trade Remedies (DGTR) said in April the curbs were meant to protect domestic met coke producers from rising imports, which have increased by more than 61%

Steel expansion could hinder net zero emission goal in India: GEM report

India's Prime Minister Narendra Modi has set 2070 as the target for achieving net zero emissions, two decades later than what scientists recommend to avoid catastrophic climate impacts