Steel Mills

Commerce department examining steel ministry request on safeguard duty

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

Indian steel mills fear surge in Chinese imports after US imposes tariffs

India is already under grave threat of import because all major steel consuming economies are shutting their doors on these steel producing countries, said Alok Sahay, secretary general at ISA

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

Govt aiming to increase scrap share in steel making to 50% by 2047: Scindia

The government is aiming to increase the share of scrap in steel making process to 50 per cent by 2047, Union Minister Jyotiraditya Scindia said on Wednesday. The steel minister emphasised on usage of scrap in steel making as manufacturing the metal through scrap and other waste products is less polluting and termed it as a step "towards green steel initiative". "As per our ministry's vision 2047 document, in the next 25 years, the percentage of scrap will be 50 per cent along with the balance 50 per cent as iron ore," Scindia said at the 11th International Material Recycling Conference in Kolkata. Use of scrap not only reduces the use of natural resources but also cuts emission by 25 per cent in comparison to the primary route of steelmaking, the minister said addressing through a video message. More scrap would be needed in the future to reduce emission and produce green steel and for this to happen there is a need for environment-friendly formal scrapping centres, Scindia ...

Steel mills expect wheel prices to ease after anti-dumping duty on China

Late on Monday, the Indian government imposed an anti-dumping duty on steel wheels used in tyres, from China, in a bid to crack down on predatory pricing

Indian steel mills hopeful as demand rises, China eases Covid curbs

Prices have plummeted some 29% in domestic market after peaking in April

Iron ore price sinks and steel mills go dark on deepening China gloom

Consumption of iron ore has been hit by China's slumping property market and the country's inability to put the coronavirus behind it.

'Hike in export duties on iron ore, pellets to raise costs for steel mills'

India's imposition of higher export tax on iron ore and various intermediate products such as pellets will raise costs for steel mills, says Moody's

Coal shortage in India leads to soaring costs for steel producers

'Mills are paying more than four times the normal costs for procuring coal from e-auctions and from mines'

Steel costlier than Covid level after firms hike prices by Rs 2,000 a tonne

The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces

Indian steel mills show mettle, reduce dependence on China for exports

Most companies resorted to exports during April and May to tide over the nationwide lockdown which impacted end-users of steel

Miners seek moratorium on dues as lockdown cripples operations

Experts believe Q1 will be a complete washout for the sector; assuming subdued activity during monsoons or Q2, revival is only expected towards the second half of FY21

2.5% import duty waiver on iron ore lumps a cost relief for steel mills

The move is likely to facilitate greater ore availability to steel mills post March 31, 2020 when licences of many merchant mines expire

Weak demand may force steel mills to offer discounts in the short-term

Demand growth had moderated to 6.4 per cent in April 2019 and ICRA said it was likely to remain lower than the FY19 Q1

Steel mills see room for further iron ore price cut

Iron ore prices fall in global markets due to oversupply and lower demand resulting from expected fall in steel output in China