Steel Productions

Producers concerned about India's import curbs on met coke: JSW Steel CEO

In June, the government extended the curbs, introducing country-specific quotas and capping overseas purchases at 1.4 million tons between July 1 and December 31

Steel prices hit 5 yr low; weak trend may persist in near term: BigMint

Domestic steel prices have slumped to a five-year low, trading in the range of Rs 47,000-?48,000 per tonne impacted by multiple factors, including surging imports, as per market data from BigMint. Hot rolled coil (HRC) prices are hovering around Rs 47,150 per tonne, while re-bar (TMT) is quoted in the range of Rs 46,500-47,000 per tonne in the wholesale market. The last time prices were at such levels was in 2020, when HRC was trading at Rs 46,000/tonne levels and rebar at Rs 45,000/tonne amid the pandemic slowdown. The current decline is largely attributed to weak export demand, rising imports, and an oversupply in the global market. India's steel exports have fallen sharply, pressured by aggressive export pushes from countries like China, while imports are still active, despite several measures introduced by the government. Falling prices amid rising imports is a matter of concern as inbound shipments are increasing despite several measures introduced by the government. Taking

JSW, Japan's JFE to invest ₹5,845 cr in India to scale up steel production

JSW and Japan's JFE Steel to jointly invest ₹5,845 crore to boost cold rolled grain-oriented steel output in Nashik and Vijayanagar amid rising demand for energy-efficient materials

Not a dream, a destination: Building the new Bharat with power of the sun

The truth: Solar already powers metro trains, steel plants, and data centres. And it creates more jobs per megawatt than coal ever did

UK govt takes over British steel operations from Chinese owner Jingye

The UK government took effective control of Britain's last remaining factory that makes steel from scratch from its Chinese owners, after lawmakers approved an emergency rescue. Prime Minister Keir Starmer summoned lawmakers for the unusual Saturday sitting, only the sixth since World War II, to back a bill primarily aimed at blocking British Steel's Chinese owners, Jingye Group, from closing the two massive blast furnaces at its Scunthorpe plant in the north of England that are key in the steelmaking process. The bill, which was debated over several hours and which is now law after being given royal ascent by King Charles III, gives Business Secretary Jonathan Reynolds the power to direct the company's board and workforce, ensure its 3,000 workers get paid and order the raw materials necessary to keep the blast furnaces running. Jingye has said the Scunthorpe plant is losing 700,000 pounds ($910,000) a day as a result of challenging market conditions and increased environmental ...

Indian steel market may see dumping due to US tariffs: JSPL chairman Jindal

Domestic steel industry needs to be on guard as countries exporting to the US may divert shipments to India after the imposition of tariffs, an industry official said on Saturday. With the tariffs announced by the US on steel and aluminium imports, countries sending shipments to America might dump products in India because of huge domestic demand, Jindal Steel and Power Ltd (JSPL) chairman Naveen Jindal said the Global Business Summit (GBS) here. "So, for that, Indian steel industry would have to be protected from unfair exports happening into India," he cautioned. US President Donald Trump has announced 25 per cent tariff on all steel and aluminium imports. Jindal said the Indian Steel Association has already filed application with the DGTR in this regard which is reviewing it. Indian steel makers have been consistently raising the issue of dumping of steel into Indian market from select group of countries which has impacted their competitiveness. The industry executive further

Tata Steel Q3 preview: Analysts estimate losses; revenue may fall up to 7%

On the bourses, Tata Steel shares closed 0.38 per cent lower at Rs 130. In comparison, BSE Sensex settled 0.43 per cent lower at 76,190.46 levels, on Friday, January 24, 2025

Dinesh Kumar Saraogi Unveils Advisory Consultancy: Makes Set Up Of New Steel Projects Convenient

Dinesh Kumar Saraogi offers expert advisory services to optimize steel projects, enhancing profitability, efficiency, and sustainability using 43 years' experience.

JSW Steel consolidated crude steel production rises 2.3% to 7 MT in Q3

Sajjan Jindal-led JSW Steel on Friday said its consolidated crude steel production rose by 2.3 per cent to 7.03 million tonnes (MT) in the third quarter of the current fiscal. The company's steel output was 6.87 MT in the year-ago period, JSW Steel said in a filing to BSE. The company's Indian operation's crude steel production rose by 3 per cent to 6.82 MT, over 6.63 MT in the year-ago period, the filing said. Capacity utilisation at Indian operations excluding trial run stood at 91 per cent for the third quarter of the ongoing financial year. "Production and capacity utilisation for the quarter was affected due to temporary maintenance activity at one of the Blast furnaces at Dolvi in the month of October, which resumed normal operations in the first week of November," the company said. JSW Steel's 5 million tonnes per annum (MTPA) integrated steel project at Vijayanagar, set up by wholly owned subsidiary of the company, JSW Vijayanagar Metallics Ltd (JVML), is progressing ...

JSW Steel Q2 Preview: PAT likely to fall 96% YoY; volumes, realisation eyed

Analysts noted that Q2 is typically weaker than Q1 in terms of volumes and prices due to seasonal factors like the monsoon and maintenance shutdowns.

Steel industry in talks with govt for level-playing field: Sajjan Jindal

Cheap imports affecting domestic companies' margins, says chairman and managing director of JSW Steel

Govt should rationalise customs duty in Budget to boost domestic mfg: ICC

The Indian Chamber of Commerce (ICC) has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for financial year 2024-25 on July 23. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. "There is a need for rationalization of customs duty in these specific sectors in a holistic manner. Huge potential is there to boost domestic manufacturing and make India a global hub for manufacturing," Prabhu said. He added that levies on raw materials impact domestic players particularly the downstream firms. He also asked for correction in inverted duty structure by cutting down duty on mixed petroleum gas from 5 per cent to 2.5 per cent. "To boost domestic manufacturing, there is

India has option to hit back at EU tariffs with retaliatory custom duties

India has the option to propose the imposition of retaliatory customs duties under the WTO norms on goods imported of a certain value from the EU, as the two sides have failed to reach a consensus on the European Union's safeguard measures on some steel products, an official has said. The EU has extended safeguard duties on certain steel imports, scheduled to expire this month, by another two years till 2026. This is the second extension of the safeguards that take the form of the Tariff Rate Quota (TRQ), first imposed in 2018. India is one of the countries affected by this measure as it has a substantial interest in steel exports to the EU. In 2023-24, India's iron and steel and their products exports to the EU increased to USD 6.64 billion from USD 6.1 billion in 2022-23. India, along with other countries, has earlier raised concerns at the World Trade Organisation (WTO) over the European Union's (EU) move to extend safeguard duty on the import of certain steel products till ...

Ministry of steel bets against limiting imports of key raw material

Imports of low ash metallurgical coke by India, the world's second-biggest crude steel producer, have surged more than 61% over the past four years

ArcelorMittal to build world's single largest steel site at Hazira by 2029

ArcelorMittal will build the world's single biggest steel manufacturing factory at Hazira in Gujarat by 2029, company's executive chairman Lakshmi Mittal said on Wednesday. The factory will have a capacity of 24 million tonne per annum, he said speaking at the 10th Vibrant Gujarat Global Summit here. He said ArcelorMittal has signed MoUs with the Gujarat government for phase two of the Hazira plant in the summit. Prime Minister Narendra Modi had done the 'bhumi puja' for the first phase of the plant in 2021 and the construction is going on as per schedule for commissioning in 2026, Mittal said.

Vedanta's aluminium production rises to 599,000 tonnes in Oct-Dec quarter

Vedanta Ltd on Wednesday said its total aluminium production rose 6 per cent to 5,99,000 tonnes in the third quarter of the current financial year. The company's aluminium output stood at 5,66,000 tonnes in the year-ago period. At Zinc International, the total mined production declined 40 per cent to 41,000 tonnes in the December quarter compared to 69,000 tonnes in the year-ago period. In a regulatory filing, Vedanta said its production of saleable iron ore in Karnataka was flat at 1.4 million tonnes in the third quarter of this fiscal. The production of pig iron was higher at 2,03,000 tonnes in the latest December quarter compared to 2,00,000 tonnes in the same period a year ago. According to the filing, the production of saleable steel increased 11 per cent to 3,41,000 tonnes due to improved operational efficiency and availability of blast furnaces. It was at 3,06,000 tonnes in the corresponding quarter of the previous fiscal.

Chhattisgarh Assembly polls: First results to flash from industrial area

The electoral fate of 1,181 candidates in Chhattisgarh have been locked in the electronic voting machines

Steel demand to touch 190 MT-mark; production to reach 210 MT: SteelMint

India's steel demand is expected to grow at a CAGR of 7 per cent to touch 190 Million Tonne (MT) level by 2030, according to a report by SteelMint India. The demand will be largely fuelled by construction and infrastructure sectors, which contribute 60-65 per cent to the demand, the market research firm said. In 2030, India's steel demand is projected to reach 190 MT based on a 7 per cent Compound Annual Growth Rate (CAGR). "In the best case scenario, it can also reach 230 MT by 2030," the report titled 'India's Steel and Coking Coal Demand 2030' stated. The demand will also be pushed by sectors like auto and engineering, and factors like population growth, growing urbanisation, various government initiatives will be its key drivers. The demand is expected to touch 120 MT mark by 2023-end, and production will be at 136 MT, as per the report. India's crude steel production is expected to be at 210 MT by 2030, 45 per cent higher from production levels of 2023. Many countries, incl

India's steel production rises 4.1% in May, global output falls 5%

India has registered a 4.1 per cent growth in its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World Steel Association (worldsteel). Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with 90.1 MT crude steel production, worldsteel data showed. India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report. Japan's output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually. Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Trkiye 2.9 MT and Iran produced 3.3 MT in May 2023. Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country. I

Very strong India story will play out going ahead: JSW Steel Joint MD & CEO

In a Q&A, Jayant Acharya says he sees private capex coming in now, since capacity utilisations have improved