Steel Industries

Govt working to address issues related to steel imports: Kumaraswamy

The government is working to address the issues related to steel imports, Union Steel Minister H D Kumaraswamy said on Tuesday. The industry has apprised the ministry and it is aware of the issue, Kumaraswamy told PTI on the sidelines FICCI's Conference on 'Electric Vehicles Accelerating E-mobility: Enablers and Imperative'. "Some issues are there. They (steel players) are telling some substandard material is getting imported from some countries. For that we are working," he said. Domestic steel players have been consistently raising their concerns over rising cheap steel imports from select nations, affecting their competitiveness. Steel imports have risen by nearly 50 per cent in the first six months of FY25 compared to the same period last year, with China being the largest contributor, BigMint CEO Dhruv Goel said. "This surge is primarily driven by increased Chinese steel exports due to slowing domestic demand there. China's exports are projected to surpass 100 million tonnes

Chinese steel exports booming higher but here's why that won't last

Unless Beijing rips up its current playbook and decides to re-inflate the housing market or splurge on infrastructure, then steel consumption in China is in long-term decline

Jindal Steel Q1 results: PAT falls 21% to Rs 1,338 cr on weak steel demand

In April-June, general elections, which lasted for nearly half quarter, led to muted steel demand, analysts said, which was compounded by higher costs of rebar, a key raw material for steelmakers

Tata Steel seeks bigger share in auto sector, pins strategy on Odisha plant

Two crucial processing systems at Kalinganagar facility to be commissioned in the next few quarters

Steelmakers fall short of investment target due to delays linked to China

Steel companies have been facing difficulties in importing machinery from China and ensuring visa clearances for Chinese experts for more than six months

JTL Industries' board approves Rs 1,200 crore investment proposal

JTL Industries Ltd said its board has approved an investment proposal of Rs 1,200 crore in company's arm JTL Tubes Ltd to set up a project in Maharashtra. The investment will be funded partly from the internal accruals and partly from proceeds of a proposed issue, the steel pipes maker said on Monday. The company's board of directors has approved "issue of securities by way of qualified institutions placement (QIP) for aggregate amount not exceeding Rs 500 crore in one or more tranches, including green shoe option," the filing said. The board also approved a proposal to invest up to an aggregate sum of Rs 1,200 crore in wholly-owned subsidiary JTL Tubes Limited to set up a mega project in Maharashtra, an exchange filing said. JTL Industries Ltd (formerly known as JTL Infra Ltd) is the largest producer of electric resistance welded (ERW) steel pipes in India, with a capacity to produce more than 6 lakh metric tonnes per annum.

JSW Steel arm Periama acquires JSW USA, purchases remaining 10% stake

JSW Steel on Tuesday said its arm Periama Holdings LLC (Periama) has completed the acquisition of JSW USA by purchasing the remaining 10 per cent stake in its "common stock". Periama Holdings LLC (Periama) is a wholly-owned subsidiary of domestic player JSW Steel. "Periama on December 18, 2023 (US time) completed the acquisition by purchase of the remaining 10 per cent stake in the Common stock of JSW USA," the filing said. Consequent to completion of this acquisition, Periama's shareholding in JSW USA has increased from 90 per cent (pre-acquisition) to 100 per cent (post-acquisition) and JSW USA has become a wholly-owned subsidiary of Periama and a step down wholly-owned subsidiary of JSW Steel, it said.

India's manufacturing growth stays robust in Aug, inflation eases

S&P Global's Manufacturing Purchasing Managers' Index dips slightly to 56.2 in August from 56.4 in July

NMDC's steel plant sale may fetch enterprise valuation of up to $4 bn

Lenders, shareholders meeting to demerge steel company on Tuesday

One of Europe's biggest steel works damaged in Ukraine's Mariupol

Azovstal is part of the Metinvest group, which is controlled by Ukraine's richest man, Rinat Akhmetov

Tamil Nadu industries resume production, slow and steady

Automobile companies use half of their workforce and ensure social distancing as lockdown is eased

White paper to reduce tax burden on steel sector: Dharmendra Pradhan

To provide more relief, Union Minister Dharmendra Pradhan said the government is bringing changes to the Electricity Act which will address concerns related to power tariffs

Steel units seek easier norms for expeditious auction of mineral blocks

Want G2 exploration norms relaxed; 75% of India's steel producers don't have captive iron ore blocks as opposed to China where 70% have captive blocks

Steel industries looking at slurry pipelines to cut transportation cost

After Essar Steel, JSPL, JSW plan slurry pipelines for their Odisha project

Kalinganagar can contribute 20% of 300 mn tonne steel target by 2030

The Union steel ministry is confident that the Kalinganagar industrIal complex in Odisha can contribute 20 per cent of the country's targeted 300 million tonne steel capacity by 2030 as prescribed in the National Steel Policy -2017."Odisha is blessed with all kind of minerals. There is scope for a steel hub here. We are expecting atleast 20 percent of the new capacity to meet the targeted 300 million tonne steel output capacity by 2030-31 will come from Kalinganagar", said Union steel minister Chaudhary Birender Singh, who was here to attend the Steel Consumers Council meeting here.Kalinganagar industrial complex cirrently houses steel behemoths like Tata Steel, Visa Steel, Mesco steel and Jindal Stainless Ltd.It may be noted that National Investment & Manufacturing Zone (NIMZ) is also being set up at Kalinganagar. The NIMZ is expected to attract investment of Rs 1.5 lakh crore and generate employment for 4,50,000 peopleafter its completion. The manufacturing zone is expected to .

Odisha steel units balk at high iron ore linkage prices by OMC

The linkage prices are almost on par with the iron ore sold by OMC through e-auctions