Page 10 - Steel

Domestic steel gets infrastructure boost

Domestic steel will now get preference in infrastructure under the National Steel Policy approved by the Union Cabinet on Wednesday. The move would boost the sales of debt-laden companies.The policy would focus on increasing the country's annual steel production to 300 million tonnes by 2025, entailing an investment of Rs 10 lakh crore by 2030-31. "India should have a globally competitive steel industry and we want that the per capita steel consumption in the country should be 160 kg by 2030," Finance Minister Arun Jaitley while briefing the media after the Cabinet meeting.The existing per capita steel consumption of the country is 60 kg. The government is of the view that surplus steel capacity should be utilized for government funded infrastructure projects.The central government plans to create self-sufficiency in steel production by providing support and guidance to private manufacturers, micro, small and medium enterprises and public sector companies through this move.The ...

Cabinet may make local steel compulsory for govt infra projects: Source

The policy is broadly seen as a continuation of India's protectionist stance against China & Russia

Building India's steel capacity

Make in India starts with making steel in India

Steel output likely to rise 6% to 89 million tonnes in 2017

Steel production is expected to grow due to growing economy and increasing urbanisation

Steel makers feel the heat of input cost rise

The recent increase in the prices of iron ore and coking coal has made steel making costlier by at least Rs 8000 per tonne for steel producers operating without captive mines.This is likely to put pressure on the margins of steel industries who are unable to pass on the extra cost to consumers in the prevailing market situation where domestic demand is subdued.Out of total 122 million tonnes installed capacity of steel industries in the country, more than 70 per cent are without captive mines and are dependent on iron ore bought from the merchant miners.The price of iron ore lumps (62.5% Fe) has gone up from Rs. 1744 per tonne in September, 2016 to Rs. 3000 per tonne in April, 2017, representing a rise of 72 per cent.Similarly, the FOB price of coking coal increased by 100 percent from USD 150/ tonne to USD 300/ tonne in a span of two weeks in April, 2017. Its September, 2016 price stood at USD 220/ tonne.Spiralling iron ore price has an impact of Rs.2000 per tonne of steel for those .

Higher public spending on infrastructure to boost steel consumption

However, Indian steel sector faces challenges such as high interest rates, huge debt, etc, says SUFI

APL Apollo Tubes to tap coastal areas with new galvanised steel pipes

It is working closely with fabricators & structural engineers to meet requirements of these regions

Is it time to get real about India's steel plans?

The government may struggle to find 91,000 acres of land to pack new 175 mt capacity

India set to become 2nd largest steel producer by FY19: SUFI

India is all set to grab the second position from Japan as the largest steel producer by 2018-19

Goodluck India to set up production facility in Kutch for steel products

The new facility, to be built with Rs 74 crore investment, will have capacity of 72,000 MTPA

Steel firms hit record sales, meet production targets

The steel industry is seeing a demand pick-up in construction, automobiles and white goods, sectors

Govt seeks ways to revive state steel giant after damning report

SAIL's underperformance could derail govt's target to triple steel production in the country by 2030

Govt faces uphill task for 300 mt steel output target

The draft National Steel Policy has set a target of 300 million tonnes capacity by 2030 which would require an additional land requirement of 91,000 acres.The policy - put up on the ministry website for public views - acknowledges that the land requirement is based on greenfield expansion. The draft mentions that the growth plans of the Indian steel industry have been hindered by difficulties in land acquisition and many projects are stuck due to policy and procedural issues. To achieve the target, therefore, the ministry plans to coordinate with respective state governments to ensure timely availability of litigation-free lands to the industries.Sanak Mishra, Secretary General, Indian Steel Association, said that about half the capacity of the additional 178 million tonnes would be through greenfield expansion and the thumb rule for land requirement is 1,000 acres for one million tonne of steel capacity. Hence, the 91,000 acres for the additional capacity.The current installed ...

India will be 2nd largest steel producer over 12-18 mths: S&P Global Platts

Capacity addition in anticipation of increase in demand to place India after China

Steel exports shoot up 150% in February, imports decline 46%

The overall crude steel production in February 2017 saw an increase of 8.5% at 8.08 mt

Tata Steel starts production at ferro-chrome plant in Odisha

The Rs 542 crore plant, located at Gopalpur, has an installed capacity of 55,000 tonne per annum

India's steel exports register three-fold increase in January

Exports in January, 2017 (0.889 mt) was up 224 per cent over January 2016

Steel firms lower prices as demand stagnates

In 2015-16, the consumption of Indian steel stood at 81.5 million tonnes, which was up by 4.8%

Steel stocks gain; Jindal Steel & Power hits 52-week high

JSPL, Tata Steel, Jindal Saw, Bhushan Steel, Maharashtra Seamless and SAIL were up 2% to 10% in intra-day trade.

Steel rebound hope fading as China's property market slows

Home prices have shown signs of slowing following Beijing's orders to tighten the market