Steel Companies

Safeguard duty is a temporary tariff barrier imposed by a country to protect its domestic industry from surge in imports

Domestic brokerages anticipate a challenging quarter for Tata Steel marked by lower steel realisations and regional pricing pressures

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.

The transaction is being undertaken by Jsquare, a wholly owned subsidiary of JSW JFE Electrical Steel Private Limited (J2ES)

While the sentiments are turning in favour of the ferrous metal players, analysts said, the fundamentals aren't quite there yet with Q2 expected to serve as a reality check

Proposed mandate will help steel scrap availability and in reducing emissions, they say

State-owned NMDC Steel Limited (NSL) on Wednesday announced producing 1 million tonnes of hot rolled coil (HRC) at its plant in Nagarnar, Chhattisgarh in a year's time. NMDC Steel Ltd, an entity demerged and formed from mining firm NMDC, owns and operates the 3 million-tonne Nagar Steel Plant -- referred as India's youngest steel unit -- and has been set up with an investment of around Rs 23,000 crore. "NSL announces a landmark achievement of its production capabilities. Today, this ultra-modern plant has successfully produced 1 MT HRC four days ahead of the first anniversary of commencement of HR coil production," the company said in a statement. On July 21, 2024, the company had achieved the production of 1.5 MT of hot metal from its blast furnace and produced 1 MT of liquid steel from the steel making shop (SMS) on August 11. Both milestones were reached in less than a year from the commencement of production, the company said. The company's CMD Amitava Mukherjee said, "Achievi

Increased imports from China and Vietnam into India, alongside Chinese supply in overseas markets, have made Indian exports uncompetitive in many regions, putting downward pressure on domestic prices

The Centre holds 100% in Visakhapatnam steel plant. RINL is the parent company of Eastern Investments Ltd (EIL), owning 51% in it

Domestic steel consumption between February to April 2024 registered a growth of 11.3 per cent

Energy and environmental services major, Thermax Ltd, said on Friday that it is in discussion with several steel companies in the eastern region for a commercial-scale high-ash coal gasification project. This project will be the first of its kind in the eastern region. Thermax is also in dialogue with Coal India on coal gasification technology. CIL has plans to set up a coal-to-SNG (Synthetic Natural Gas) project in the Eastern Coalfields Limited command area. In this domain, Thermax claims to have patented technology. "We are currently in talks with steel companies for a project that will pioneer high-ash coal gasification in the eastern region. Deliberations are going on regarding the funding, which is facing a viability gap of approximately 30-40 per cent of the project cost," Thermax MD and CEO Ashish Bhandari said. Although the government is expected to provide viability gap funding of around 15 per cent, companies will need to address the remaining funding gap, he said. "We

Exports are high due to weak Chinese domestic steel demand which contracted 2 per cent YoY in CY23

AM/NS India achieved a record crude steel production in December 2023, reaching an 8.1 million tonne (mt) run rate, close to the 8.6 mt capacity debottlenecking target

Tata Steel, JSW Steel, ArcelorMittal Nippon Steel India and other producers settling contracts

India's existing steel and cement plants, which play a vital role in the country's economic development, will require Rs 47 lakh crore in additional capital expenditure (CAPEX) to achieve net-zero carbon emissions, according to a new study. India is the second-largest producer of steel and cement in the world. But both are emission-intensive processes making these hard-to-abate industries. The study, the first-of-its-kind calculation of the cost of decarbonising these industries, also pointed out these two sectors will need Rs 1 lakh crore each year in additional operational expenditure (OPEX) to achieve net zero. Net zero means achieving a balance between the greenhouse gases put into the atmosphere and those taken out. The analysis by the Council on Energy, Environment and Water (CEEW) also found that an 8 to 25 per cent reduction in steel emissions and a 32 per cent reduction in cement emissions is possible without any price increase by adopting efficient technologies such as ..

Stock valuations could improve dramatically if demand rebounds and the China policy support comes through

Chandigarh-based JTL Industries, which manufacturers various grades of galvanised steel tubes and pipes, is adding 2 lakh tonne to its existing 6 lakh tonne capacity as part of the ongoing Rs 330-crore capex at two of its mills. The overall capacity expansion of 4 lakh tonne worth Rs 330 crore will be completed by FY27, which will take its total installed capacity to 10 lakh tonne, the company official told PTI here on Monday, adding the immediate enhancement of 1 lakh tonne each will come up at the Malegaon plant in Maharashtra and the Raipur mill in Chhattisgarh, which will take their overall output to 3 lakh tonne each. This is a completely debt-free investment as the company set up in the 1990s has long been debt-free. The expansion is fully funded by the Rs 384 crore raised from the preferential warrants issue in March, Dhruv Singla, an executive director & chief financial officer, who is also the son of the managing director Madan Mohan Singla, told PTI. The company has four

Steel player AMNS India on Thursday said it has posted a 27.44 per cent fall in its operational profit at USD 341 million (about Rs 2,788 crore) during the March 2023 quarter. The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at USD 470 million in the January-March period of 2022, parent firm ArcelorMittal said in a statement. AMNS India follows January-December financial year. "EBITDA during 1Q 2023 of USD 341 million was higher as compared to USD 162 million in 4Q 2022, due to higher steel shipments, higher average steel selling prices and lower costs (including energy costs). However, it was lower as compared to USD 470 million in 1Q 2022, due to lower prices offset in part by higher steel shipments," it said. ArcelorMittal in joint venture with Nippon Steel of Japan owns and operates about 9 million tonne steel plant in Gujarat. In 2019, ArcelorMittal along with Nippon Steel completed the acquisition of the Essar Steel Ltd plant locat

State-owned steel maker RINL is aiming to produce 55,000 wheels in the current financial year to meet the demand from Indian Railways, its CMD Atul Bhatt said. Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) has set up a forged wheel plant at Lalganj, in Uttar Pradesh at an estimated cost of Rs 2,350-crore with a capacity to manufacture one lakh forged wheels per annum. "RINL supplied 2,465 Loco wheels and 2,639 LHB wheels to Railways in FY23. Preliminary Acceptance Certificate (PAC) has been issued for the plant and very soon production will be ramped up to 55,000 wheels in the current fiscal to meet the demand of Railways," he told PTI. The steel maker started supplying wheels in December 2021 when the first consignment of 51 loco wheels was flagged off from its Rae Bareli unit in Uttar Pradesh to the Railways. The targeted 50 per cent utilisation of the plant will significantly reduce the dependence on imports and help the national transporter to source the Made in India ..

Steel, power and cement companies have bagged a sizable number of blocks auctioned under the sixth round of commercial coal auctions. As per an official note, JSW Steel has won Banai and Bhalumunda mines in Chhattisgarh, another block Parbatpur Central and Sitanala mines in Jharkhand, while JSW Cement bagged Marwatola - VI mine in Madhya Pradesh (MP). Jindal Power won Gare Palma Sector - I, Gare Palma IV/2 and Gare Palma IV/3 coal mines located in Chhattisgarh. Rungta Sons Private Limited has bagged Sakhigopal B Kankili and Chhendipada (Revised) blocks in Odisha, and Choritand Tiliaya in Jharkhand. RCR Steel Works won Patal East (Eastern Part) located in Jharkhand, Orissa Metallurgical Industry has secured Kagra Joydev mine in West Bengal. Cement companies Ambuja Cements Limited won Dahegaon-Gowari mine in Maharashtra, Ultratech Cement got Arjuni East in Madhya Pradesh, Dalmia Cement (Bharat) won Mandla North in Madhya Pradesh, Rama Cement Industries got 1 Marwatola VII mine in