Steel Market

Growth of cheap and dirtiest steelmaking tests govt's carbon mission

A lot of new output is emerging from small-scale plants that are relatively easy to build, but highly polluting

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

Forged wheel import holdup: Railways asks SAIL to boost output amid crisis

Steelmaker expects to meet 87% of orders; moves towards Vande Bharat wheels

Steel majors to invest billions of capital to meet buoyant local demand

A spurt in economic activity and a revamp of broader infrastructure have drawn steel makers from around the world to India, where demand is rising. In Europe and the United States, it is falling

ArcelorMittal's Bosnia steel plant reports nearly $88 million net loss

The results were hit by a 12% annual drop in demand, a 20% rise in electricity prices and 22% lower prices of the metal on the global market, the Bosnian business added

India steel mills most at risk from EU carbon plan, says Goldman Sachs

Policymakers worldwide are seeking to reduce carbon emissions in their fight against climate change, with steel traditionally among the most polluting industries

Tata Steel CEO expresses concern over India's rising steel imports

India being a net importer of steel is a matter of concern, Tata Steel CEO & MD T V Narendran said Tuesday. The government has assured of intervention, if the imports remain on a rise, Narendran said at the ISA Steel Conclave event in the national capital. "I think it's a little bit of a concern because internationally steel prices are still a bit soft because of China... You heard the (commerce) minister Piyush Goyal saying that if imports increase the government will look at what it can do to help us," he said replying to a question on India being net importer of steel in October. Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters. He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization). The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of ..

India's steel capacity crosses 161 MT mark, sector poised for growth: Govt

India's steel capacity has crossed 161 million tonnes and the industry is poised for continued growth, Steel Secretary Nagendra Nath Sinha said on Tuesday. As per the National Steel Policy, India has an ambitious target of installing 300 MT steel capacity by 2030. "We have already crossed 161 million mt of capacity, comprising 67 MT by blast furnace-basic oxygen furnace (BF-BoF) route, 36 MT by electric arc furnace (EAF) and 58 MT by induction furnace (IF) route," Sinha said addressing the '4rth Indian Steel Association (ISA) Steel Conclave' event in the national capital. He further stressed that the steel sector in India is poised for continued growth. Sinha said, India is the world's fourth-largest automobile market, and it is expected to grow at a CAGR of 8-10 per cent over the next 10 years. Moreover, the manufacturing sector saw a Compound annual growth rate (CAGR) of 7-8 per cent and this is driving demand for steel in both the sectors. The production-linked incentive scheme

Sentiment turns stronger for steel stocks on hopes of better prospects

The Street is speculating on sustainable rebound from Q2 led by better prices and lower costs

Steel prices may not fall further, but China key: Indian steelmakers

Steelmakers are confident about the business of Indian steelmakers

Mills need technology breakthrough for Green Steel, face 30% cost increase

Steel makers in India and globally stare at a sharp 30 per cent increase in the production costs to manufacture 'green steel' for meeting their net-zero targets, experts said. Right now, there is no single definite technology for producing 'Green Steel' and whatever is available is based on different production process lines with different timeframes, said steel experts at the Singapore Green Steel Forum on Tuesday. India's steel mills along with their global peer groups and consultants are seeking a major technology breakthrough to produce green steel, according to experts. Present estimates put production of 'Green Steel' 30 per cent higher compared with conventional steel that is being produced currently, said a consultancy group official anonymously. The debate is using electric arc furnaces based on green energy, which would be costly, and Blast Furnace (BF), which uses comparatively cheaper coal, the official said. BF also offers large volume output compared to EAF, he ...

JSW Steel, Japan's JFE ink pact to manufacture electrical steel in India

The JV shall be able to manufacture the entire range of CRGO products at its proposed facilities at Vijayanagar, Karnataka

Crucial for India to secure its nickel needs, says Jindal Stainless MD

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

AM Mining India completes acquisition of debt-ridden Uttam Galva Steels

AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra

Jamshed J Irani, known as the Steel Man of India, passes away at 85

Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 85. Irani was associated with Tata Steel for over four decades. He retired from the board of Tata Steel in June 2011, leaving behind a legacy of 43 years, which won him and the Company international acclaim in various fields. Born on June 2, 1936 in Nagpur to Jiji Irani and Khorshed Irani, Dr Irani completed his BSc from Science College, Nagpur in 1956 and MSc in Geology from the Nagpur University in 1958. He then went to the University of Sheffield in UK as a J N Tata scholar, where he secured a Masters in Metallurgy in 1960, and a PhD in Metallurgy in 1963. He started his professional career with the British Iron and Steel Research Association in Sheffield in 1963, but always yearned to contribute to the Nation's progress. He returned to India to join The Tata Iron and Steel Company (now Tata Steel), as it was then known, in 1968, and joined the firm as Assistant to th

Global steel demand downgraded, to drop 2.3% in 2022: WorldSteel

A global recovery in steel demand next year is still expected, mainly due to a rise in infrastructure spending, but the growth will be 1% instead of 2.2% as forecast earlier this year, the WSA said

Britain in talks with British Steel and Tata to secure industry's future

Britain said on Monday it was in talks with steel makers, including British Steel, owned by China's Jingye Group, and India's Tata to help secure the industry's long-term future

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

JSW Steel consolidated output rises 16% to 5.88 million tonnes in Apr-Jun

On a quarter-on-quarter (q-o-q) basis, the production was 2 per cent down from 5.98 MT in January-March 2022

US, Japan reach deal to cut tariffs on Japanese steel, fight excess output

The new deal, which excludes aluminum, will take effect on April 1 and requires Japan to take "concrete steps" to fight global excess steel manufacturing capacity