Steel Output

Nippon Steel defends US deal after Joe Biden comes out against bid

Japan's largest steel company repeated its previous offer of an additional $1.4 billion in investment, and promised no layoffs or plant closures until at least September 2026

Tata Steel consolidated output falls 3.2% to 7.26 MT during Jul-Sept qtr

Tata Steel has posted a 3.2 per cent decline in consolidated production to 7.26 million tonne during the second quarter of the ongoing fiscal. Its consolidated output was at 7.5 MT in the year-ago period, Tata Steel said in a statement. The consolidated deliveries during the period were at 6.89 MT as against 7.06 MT in the year-ago quarter, posting a decline of 2.40 per cent. During the period under review, Tata Steel India produced 4.99 MT steel, up from 4.80 MT in same period of the previous financial year. Deliveries in India were down at 4.82 MT from 4.91 MT in the same quarter a year ago, as per the statement. In Europe, Tata Steel produced 1.99 MT steel in the April-September period, down from 2.40 MT last year. The deliveries in Europe also fell to 1.79 MT from 1.87 MT. Tata Steel Thailand produced 0.28 MT steel as against 0.30 MT last year, while the deliveries were the same as production numbers in the country. Automotive & special products' segment deliveries increased

Steel output grows 5% in Jan-Jun; trend to continue in 2nd half: SteelMint

India has produced 66.14 MT crude steel in January-June 2023, registering a 5 per cent year-on-year growth and the uptrend is likely to continue in second half of the year as well, according to SteelMint. The domestic industry had produced 63 million tonnes (MT) crude steel in the January-June period of 2022, the research firm said. The increase in production was mainly on account of improved capacity utilisation rates coupled with the ramping up of capacities by key Indian steel players, it said. According to SteelMint these factors will continue to support the growth in production in the second half of the ongoing year, SteelMint added. The domestic steel consumption also registered an 11 per cent year-on-year (y-o-y) increase to 58.4 MT in the first half of 2023, from 52.7 MT in the same period of 2022. Steel exports took a hit of 30 per cent during the period under review, as China increased its outbound shipments of steel. "India's steel exports dropped to 4.74 MT in H1 from

India's steel output grows 8.37% to 33.63 MT in Apr-Jun: SteelMint

India's crude steel production increased by 8.37 per cent in April-June period to 33.63 MT and the momentum is likely to continue in the current quarter as well, according to SteelMint. Higher production and capacity ramp-up activities by steel mills will meet the increasing demand, the research firm said in a note. India had produced 31.03 million tonnes (MT) of steel in the April-June quarter of the preceding 2022-23 financial year, SteelMint data showed. Finished steel production in India rose 11.66 per cent in the quarter under review to 32.41 MT, from 29.03 MT in the same quarter a year ago. The domestic steel consumption rose 10.16 per cent to 30.29 MT from 27.50 MT a year ago. The imports of steel surged to 1.40 MT in April-June 2023, posting a 19.54 per cent rise over 1.17 MT in the year-ago period. "Price disparity in landed cost of imports and prevailing domestic hot-rolled coil (HRC) prices boosted imports," a SteelMint analyst said. Exports shrinked 6.39 per cent to

JSW Steel posts 11% rise in crude steel production at 6.43 MT in Q1

JSW Steel on Thursday posted an 11 per cent year-on-year growth in consolidated steel production at 6.43 MT during the first quarter of this financial year. It had produced 5.77 million tonnes (MT) steel during the April-June period of the preceding 2021-22 fiscal, JSW Steel said in a statement. However, on a quarter-on-quarter basis, steel production stood at 6.43 MT, 2 per cent down from the 6.58 MT output in the quarter ended March 31, 2023. The consolidated numbers include production of JSW Steel's operations in India and JSW USA - Ohio. The operations in Ohio produced 0.24 MT steel, up from 0.16 MT in April-June FY23. Part of JSW Group, JSW Steel is among the top three steel producing companies in India.

India's steel output grows 5% to 10.34 million tonne in Nov, says report

India's crude steel output rose by about 5 per cent to 10.34 million tonne (MT) in November 2022, according to SteelMint India. As per the research firm, the top six steel makers -- SAIL, Tata Steel, JSW Steel, JSPL, AMNS India and RINL -- produced 6.28 MT steel and the rest 4.06 MT came from the secondary sector. The country had produced 9.88 MT of steel during the same month of 2021, the SteelMint data showed. In November 2021, large producers jointly manufactured 6.09 MT steel, while the secondary industry produced 3.79 MT, it added. The production of finished steel rose 3.41 per cent to 9.55 MT from 9.23 MT in November last year. The consumption of the alloy surged 13.42 per cent to 9.66 MT in November against 8.52 MT a year ago. According to SteelMint, the imports of finished steel during the month almost doubled to 0.60 MT from 0.31 MT, while its exports fell 53 per cent to 0.34 MT against 0.72 MT in the year-ago period.

ESL Steel capacity expansion by next year: Vedanta's Sunil Duggal

Mining giant says priority is to finish doubling capacity of company it acquired in June 2018

JSW Steel eyes 50 MT capacity by 2030 via greenfield, brownfield options

Jindal's growth plans are in sync with the country's target of doubling crude steel capacity to 300 mt of crude steel capacity in the next 9-10 years

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

Steel demand needs 9% CAGR to meet 160 kg/capita consumption target: Icra

The domestic steel demand needs to grow at a compound annual growth rate (CAGR) of 9 per cent over the next decade to meet 160 kg per capita steel consumption target envisaged in the National Steel Policy (NSP). Launched in 2017, NSP also aims to ramp up the country's crude steel production to 300 million tonne (MT) by 2030-31. Jayanta Roy, Senior Vice-President & Group Head, Corporate Sector Ratings, Icra said, India's current per capita steel demand of 76 kg is not only significantly below the world average of 233 kg per capita, but also remains the lowest among Brazil, Russia, India, China and South Africa (BRICS) nations. To take the country's steel consumption close to NSP target of 160 kg per capita in FY2031, the domestic steel demand would need to grow at a CAGR of 9 per cent in the next decade, the expert said in an Icra report on Wednesday. He further noted, "This is almost double the growth rate achieved in the decade gone by. While achieving this milestone will be ...

India's crude steel output rise by 2.5% at 30 MT in Jul-Sep: Report

India's crude steel output rose by 2.56 per cent to 30.06 million tonne (MT) during the July-September period of the ongoing financial year. As per research firm SteelMint, the top six steel makers -- SAIL, Tata Steel, JSW Steel, JSPL, AMNS India and RINL -- produced 18.29 MT steel, the rest 11.77 MT came in from the secondary sector. The country had produced 29.31 MT of steel during the same quarter in the preceding 2021-22 financial year, according the data shared by SteelMint. During the said quarter last fiscal, large producers had jointly manufactured 18.39 MT steel, while the secondary industry produced 10.92 MT, it said. During the quarter ended September 30, 2022, steel exports fell to 1.41 MT from 4.20 MT in the year ago period, registering a year-on-year (y-o-y) fall of 66.43 per cent. The domestic consumption was 11.33 per cent higher at 27.52 MT, as against 24.72 MT in July-September 2021. On the outlook for the sector during the running October-December quarter, Stee

Economic Survey: India sees 25% growth in steel output during Apr-Oct FY22

India's crude steel production increased 25 per cent year-on-year to 66.91 million tonne during April-October period of 2021-22, according to the Economic Survey.

India's steel output expected to jump 18% to 120 MT in FY22: MoS Steel

India's crude steel output is expected to soar about 18 per cent to 120 million tonnes (MT) by the end of the ongoing financial year, Minister of State (MoS) for Steel Faggan Singh Kulaste said

Jindal Steel plans $2.4-billion spend in six years, double output

The steelmaker plans to raise total crude steel capacity to 15.9 million tons by March 2025 from 8.6 million tons, the New Delhi-based company said in an investor presentation on Tuesday

Vedanta to invest $20 bn across businesses, double silver and steel output

Timeline for investment not given; Firm looks to ramp up domestic production in oil and gas by up to 50%

Tata Steel June quarter crude steel output jumps over 43%; sales up 35%

Consolidated crude steel output was at 7.94 million tonne (MT) during the quarter

JSW Steel reports 10% growth in production to 13.67 lakh tonne in May

JSW Steel on Thursday posted a 10 per cent growth in its crude steel production at 13.67 lakh tonne (LT) during May 2021

Domestic steel output to take hit as plants divert oxygen for medical use

Consumption seen falling in line with production as auto, consumer durable goods demand tanks

India's crude steel output grows 7.6% to 10 MT in January: Worldsteel

India registered a growth of 7.6 per cent in crude steel production at 10 million tonne (MT) in January 2021, according to World Steel Association (worldsteel)