Page 4 - Steel Production

Exports necessary for steel players expanding capacities: AMNS India CEO

To maintain higher capacity utilisation, exports are necessary for local steel players expanding their capacities, as demand is not directly proportional to production, according to a top industry executive. "Since expansion happens... there will be a certain stage where you necessarily will have to export, if we have to be on high capacity utilisation," Dilip Oommen, CEO of ArcelorMittal Nippon Steel (AMNS) India told PTI. His comments assume significance as steel players are looking up to the government for relief in the form of roll back of the duties levied on steel exports. On May 21, the government hiked the duty on exports of iron ore by up to 50 per cent and for a few steel intermediaries to 15 per cent. In line with the government's 300 MT steel making capacity target, other steel players like Tata Steel, JSW Steel, SAIL and JSPL are also expanding their capacities to meet the goal. AMNS India on Friday commenced a Rs 60,000-crore expansion project to scale up its Hazira

JSW Steel's 2 Indian subsidiaries expected to return to profit in Q3 FY23

Global macroeconomic challenges to shape turnaround of JSW Steel and Bhushan Power & Steel

JSW Steel logs Rs 848 crore loss in Sept quarter as steel prices fall

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

Domestic steel prices inching up on rising cost, pick-up in demand

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

Essar to invest $4 bn in steel plant in Saudi Arabia in 3 years: Official

The Essar Group is looking to invest USD 4 billion in setting up an integrated flat steelworks plant in Saudi Arabia in the next three years, a senior company official said. The plant, which will cost Saudi Riyal 15 billion (USD 4 billion), is scheduled to break ground by this year-end and be completed by the end of 2025, said Amar Kapadia, general manager for corporate planning at Essar. The new 4-million tonnes per annum integrated flat steelworks plant will have continuous casting and hot strip capacity, 1-million tonnes of cold rolled coil capacity, and a tin plate line in Ras Al-Khair Industrial City on Saudi Arabia's east coast. The new facility will also have two direct reduced iron plants, each with a 2.5-million tonnes a year capacity. Essar signed a memorandum of understanding with the Saudi Arabia's National Industrial Development Centre (NIDC) in October 2021, and an agreement with the Royal Commission for Jubail and Yanbu (RCJY) for land allocation in December. "We ha

Coking coal price rise likely to delay margin recovery of steelmakers

The domestic market has also seen a sharp correction in steel prices from peak levels

Self-reliance key: Scindia calls for promoting 'Made in India' steel

Steel Minister Jyotiraditya Scindia emphasised on the need to promote domestically produced steel or 'Made In India' steel, as self-reliance in its production was a top priority.

Tata Steel Europe: A tale of 2 plants and their transition to green future

Both the Netherlands and UK facilities have turned around but the transition to a green steel future may differ

Sluggish domestic and international demand may impact steel production

Steel prices were in correction mode before the government imposed the export duty, impacting about 95 per cent of the steel export basket. Post-export duty, prices fell further

Steel softens sharply on subdued demand outlook, rising iron ore output

Futures prices of steel on National Commodity & Derivatives Exchange Limited (NCDEX) have softened significantly in the past one to one-and-a-half month period.

JSW Steel Q4 net profit down 20%; announces JISPL merger with itself

Revenue up 74 per cent YoY to Rs 46,895 crore as company says its opportunities for exports are expanding.

India produced 120 MT crude steel in FY22: Steel Minister Ram Singh

India produced 120 million tonne (MT) of crude steel during financial year ended March 31, 2022, Steel Minister Ram Chandra Prasad Singh has said. At 120 MT, the output was about 18 per cent higher compared to the country's production in the preceding fiscal year. According to official data, India produced around 102 MT steel in 2020-21. "Steel sector in India has traversed a fascinating journey from a mere 1 MT at the time of independence to 120 MT in the last (2021-22) financial year," a steel ministry statement quoted Singh as saying at National Metallurgist Award 2021 on Wednesday. The award has been instituted to recognize contributions of metallurgists working in the field of iron and steel. The areas covered in the award are manufacturing, research and development (R&D), design, education, waste management, energy conservation and their specific contribution to achieve objectives of the government's Aatmanirbhar Bharat mission. In his address, Singh further said steel ...

Ukraine: ArcelorMittal halts steelmaking operations in Kryvyi Rih

Global steel giant ArcelorMittal has stopped production at its Kryvyi Rih facility in Ukraine amid the ongoing conflict between the eastern European country and Russia

JSW Steel reports 15% rise in crude steel production for the month of Jan

JSW Steel on Friday reported 15 per cent rise in crude steel production at 16.46 lakh tonne for the month of January. The company's crude steel production was at 14.32 lakh tonne (LT) in January 2021, JSW Steel said in a filing to BSE. "JSW Steel reported the crude steel production for the month of January 2022 at 16.46 lakh tonne, that grew by 15 per cent Y-o-Y on standalone basis," the filing said. The production of its flat-rolled products increased by 23 per cent to 12.47 LT over 10.14 LT in January 2021. Its output of long-rolled products registered a growth of 4 per cent to 3.74 LT, as against 3.59 LT in January 2021. The expansion project at Dolvi works, which commenced commercial operations in November last year is gradually ramping up capacity utilisation. JSW Steel is the flagship business of the diversified USD 13 billion JSW Group. As one of country's leading business houses, JSW Group also has other business interests in sectors such as energy, infrastructure, ceme

Government notifies PLI scheme guidelines for specialty steel

The government on Friday said it has notified guidelines for the recently announced Production Linked Incentive (PLI) scheme for specialty steel. On July 22, the Union Cabinet chaired by Prime Minister Narendra Modi had approved the Rs 6,322-crore PLI scheme to boost production of specialty steel in India, attract additional investment of about Rs 40,000 crore and generate fresh 5.25 lakh job opportunities. In a statement, the Ministry of Steel said that "guidelines for an effective operation and smooth implementation of PLI Scheme have been notified on October 20, 2021 on the website of the ministry. Guidelines offer clarity on operational aspects of the scheme such as the application, eligibility, disbursement of incentive and so on". The five categories of specialty steel which have been included in the PLI scheme are coated/plated steel products, high strength/wear resistant steel, specialty rails, alloy steel products, steel wires and electrical steel, the ministry ...

Steel production needs to be decarbonised, says new worldsteel chief

Newly elected worldsteel Chairman Sajjan Jindal on Wednesday called for a joint effort of the industry to "build cleaner future" by working towards decarbonising steel production.

SAIL to double capacity to 50 mn tonnes by 2030, starts land bank study

The last phase of expansion by SAIL entailed raising capacity from 12.8 mt to 21.4 mt. But the plan, conceived in 2006-2007, was delayed due to the 2008 global financial crisis

Steel production impacted in Apr-Jun qtr due to second Covid wave: Minister

The country's steel output took a hit during the April-June period of 2021 due to the emergence of the second wave of Covid-19 pandemic, Parliament was informed on Monday.

Tata Steel April-June crude steel output up 55% YoY to 4.62 million tonnes

Production falls sequentially as company diverts industrial oxygen for medical use

JSPL steel production jumps 31% to 13.7 lakh tonnes during April and May

Jindal Steel and Power Ltd (JSPL) has reported 31 per cent year-on-year jump in its steel production to 13.71 lakh tonnes during April and May