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Steel Producers

Tata Steel engages with NMDC, OMC to secure iron ore needs for future

Tata Steel has initiated discussions with state-run miners NMDC and Odisha Mining Corporation (OMC) to secure future iron ore supplies as the company ramps up its domestic steel manufacturing capacity. Tata Steel will also operationalise two new iron mines namely Kalamang West and Gandalpada as part of its strategy to ensure raw material security, the company's Vice President, Raw Material, D B Sundara Ramam told PTI. At present, Tata Steel meets its entire demand for iron ore, a key raw material used for manufacturing steel, from six iron ore mines operated by the company in Odisha and Jharkhand. Ramam said raw material plan has been carved out as leases of four mines -- Noamundi iron ore mine (being operated since 1925), Katamati and Khondbond (since 1933) and Joda East (1956) -- are expiring in March 2030. While two other mines NINL (Mithirda) and Vijay II will continue to remain operational. The mines came along acquisition of NINL plant and Usha Martin's steel business, he .

Tata Steel engages with NMDC, OMC to secure iron ore needs for future
Updated On : 15 Dec 2024 | 12:10 PM IST

Capacity utilisation of domestic steel may hit 4-year low in FY25: ICRA

Following the post-Covid metals rally, the domestic steel industry was able to achieve the "impossible trinity" of maintaining above 80 per cent capacity utilisation rates

Capacity utilisation of domestic steel may hit 4-year low in FY25: ICRA
Updated On : 12 Dec 2024 | 10:29 PM IST

Govt may soon decide whether to curb steelmaking raw material imports

The trade ministry's Directorate General of Trade Remedies (DGTR) said in April the curbs were meant to protect domestic met coke producers from rising imports, which have increased by more than 61%

Govt may soon decide whether to curb steelmaking raw material imports
Updated On : 12 Dec 2024 | 6:04 PM IST

Steel expansion could hinder net zero emission goal in India: GEM report

India's Prime Minister Narendra Modi has set 2070 as the target for achieving net zero emissions, two decades later than what scientists recommend to avoid catastrophic climate impacts

Steel expansion could hinder net zero emission goal in India: GEM report
Updated On : 10 Dec 2024 | 7:00 AM IST

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

Commerce department examining steel ministry request on safeguard duty
Updated On : 09 Dec 2024 | 11:51 PM IST

Steel ministry proposes 25% safeguard duty on import of certain steel items

Taking up the concerns of domestic steel industry, the steel ministry on Monday proposed for a 25 per cent safeguard duty on import of certain steel items into the country. The proposal came at a meeting between Union Minister of Steel H D Kumaraswamy and Commerce and Industry Minister Piyush Goyal in the national capital, sources said. Senior officials from both the ministries and executives of top steel making companies like SAIL, Tata Steel, JSW Steel and AMNS India also attended the meeting, they said. "Held a meeting with stakeholders from the steel and metallurgical coke industries along with my colleague & Minister of Heavy Industries and Steel @HD_Kumaraswamy ji," Goyal said in a post on X. "With both industries playing a vital role in India's development journey, discussed ways to boost production, enhance quality, and further strengthen global competitiveness," the minister said. According to Kumaraswamy, the two ministries discussed ways to collaborate and ensure ease .

Steel ministry proposes 25% safeguard duty on import of certain steel items
Updated On : 02 Dec 2024 | 7:42 PM IST

World's biggest steelmakers failing to switch to renewables: Survey

Steel is responsible for 7% of global carbon dioxide emissions, around the same as India, with coal-fired blast furnaces producing 2 metric tons of CO2 for each ton of output

World's biggest steelmakers failing to switch to renewables: Survey
Updated On : 29 Nov 2024 | 9:30 AM IST

Leverage for primary steel firms may reach five-year high: CRISIL Ratings

Major steel producers have been on an expansion spree. Ongoing capex is expected to boost capacity by 30 mn tonne per annum (mtpa) by fiscal 2027, of which 20 mtpa is to be added by the end of fiscal

Leverage for primary steel firms may reach five-year high: CRISIL Ratings
Updated On : 28 Nov 2024 | 11:10 PM IST

Fall in steel prices may impact profitability of domestic producers: CRISIL

The drop in the prices of steel will impact the operating profitability of primary steel producers in the domestic market, Crisil Ratings said on Thursday. Early-stage steel produced from iron ore is referred as primary steel. Despite an increase in sales volume and lower cost pressures, mainly due to reduced coking coal prices, the operating profit margin will remain at 15-16 per cent in the current financial year, it said. "Lower realisations and flat operating margin will likely drag absolute Ebitda for primary steelmakers 5-7 per cent lower this fiscal, at a time of substantial growth capex," Crisil Ratings Director Ankit Hakhu said. Domestic steel prices are likely to drop 10 per cent on average this fiscal from Rs 57,500 per tonne last fiscal. The first half of this fiscal has already seen average domestic steel prices fall eight per cent from last fiscal's average. While domestic demand is healthy, global steel demand is likely to contract for the third consecutive fiscal.

Fall in steel prices may impact profitability of domestic producers: CRISIL
Updated On : 28 Nov 2024 | 5:23 PM IST

JSW Steel, SAIL seek Mongolian coking coal imports amid high steel demand

JSW Steel plans to purchase 2,500 metric tons, while SAIL aims to secure 75,000 metric tons of coking coal from Mongolian

JSW Steel, SAIL seek Mongolian coking coal imports amid high steel demand
Updated On : 26 Nov 2024 | 5:39 PM IST

JSW Steel Q2 Preview: PAT likely to fall 96% YoY; volumes, realisation eyed

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.

JSW Steel Q2 Preview: PAT likely to fall 96% YoY; volumes, realisation eyed
Updated On : 23 Oct 2024 | 1:29 PM IST

Tata Steel, Tenova partner for electric arc furnace at Port Talbot plant

The plan was for the Tata Steel-owned site to be subject to a three to four-year-long decarbonisation plan to build an electric arc furnace which will make steel from scrap

Tata Steel, Tenova partner for electric arc furnace at Port Talbot plant
Updated On : 18 Oct 2024 | 10:07 PM IST

Steel ministry favours temporary tax to check imports, says report

India, world's 2nd biggest crude steel producer, became a net importer of the alloy in the fiscal year to Mar 31, 2024, and the trend has continued since then, with imports from China rising steadily

Steel ministry favours temporary tax to check imports, says report
Updated On : 18 Oct 2024 | 5:20 PM IST

Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL

Producers of long steel products in the secondary sector are expected to see a 7 per cent growth in their revenues in the ongoing financial year, Crisil Ratings said on Thursday. Secondary steel makers produce recycled products using electric arc furnace (EAF) and induction furnace (IF). Secondary steel players witnessed 4 per cent rise in their revenues in preceding 2023-24 fiscal year, the ratings agency said in its report. "Secondary long steel producers will see revenue grow 7 per cent this fiscal, up from 4 per cent last fiscal, riding on robust domestic demand fuelled by central government spending on housing and infrastructure," it said. This fiscal, the central government's spending on rural and urban housing and infrastructure projects, particularly under Pradhan Mantri Awas Yojana and the National Infrastructure Pipeline, will sustain demand. The uptick seen in the first half of the fiscal will pick up pace in the second half. Rahul Guha, Director, Crisil Ratings, said:

Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL
Updated On : 17 Oct 2024 | 4:56 PM IST

Steel import surge impacts domestic players' gross margins: Ind-Ra

The surge in steel imports has impacted the margins of domestic players and such pressures are likely to intensify in the second half of the ongoing fiscal year, a report said on Tuesday. The report covers global causes of increased steel imports to India, the likely trajectory of imports, key exporting nations, and domestic demand supply balance, India Ratings and Research (Ind-Ra) said in a statement. The increasing steel imports to India -- particularly from the third quarter of FY24 -- have affected the gross margin spreads in the domestic steel industry, it said. "Ind-Ra believes the Indian steel industry is witnessing margin pressure because of higher volumes of lower-priced steel imports from China, Vietnam, Japan, and Korea, and such pressure is likely to intensify over 2HFY25," it said. As per the report, the Chinese steel export volumes were at its peak in FY25 over at least past 21 quarters, as its domestic steel prices have been consistently declining, keeping ...

Steel import surge impacts domestic players' gross margins: Ind-Ra
Updated On : 15 Oct 2024 | 4:57 PM IST

Bank stocks climb 1% making it best performing sector; Hyundai IPO in focus

The excitement around India's largest IPO is being dampened by evident weakness in demand for cars in India as well globally

Bank stocks climb 1% making it best performing sector; Hyundai IPO in focus
Updated On : 11 Oct 2024 | 9:10 AM IST

Tata Steel ends 'legacy steelmaking' at Britain's largest steelworks

Tata Steel-owned Port Talbot plant in South Wales hit a significant milestone on Monday when its Blast Furnace 4 ceased operations after over 100 years, marking an end of "legacy" steelmaking as the UK's largest steelworks transitions towards greener steelmaking. Steelmaking at the site is now set to resume in 2027-2028 as part of a British government-backed investment programme of around GBP 1.25 billion in Electric Arc Furnace-based steelmaking, using UK-sourced scrap steel. The Mumbai-headquartered steel giant said it is looking ahead to a brighter, greener future for the historic site and sustaining more than 5,000 jobs. "I am deeply conscious how difficult today is for everyone associated with our business. Throughout this transition, we are doing everything possible to minimise the impact on all those who are affected by the changes we are making, Rajesh Nair, CEO of Tata Steel UK, said in a statement. Today marks a significant event in the history of iron and steelmaking in

Tata Steel ends 'legacy steelmaking' at Britain's largest steelworks
Updated On : 30 Sep 2024 | 11:00 PM IST

India in talks to tackle rising steel imports: Steel minister Kumaraswamy

Earlier in the month, Steel Minister Kumaraswamy had said his ministry will try to convince the finance ministry to raise tariffs on steel imports

India in talks to tackle rising steel imports: Steel minister Kumaraswamy
Updated On : 18 Sep 2024 | 12:21 PM IST

US decision on Nippon bid for US Steel pushed back until after election

Robust CFIUS reviews take 90 days but it is common for companies to withdraw their filings and resubmit them to give them more time to address the panel's concerns

US decision on Nippon bid for US Steel pushed back until after election
Updated On : 18 Sep 2024 | 10:39 AM IST

ArcelorMittal's India joint venture seeks duty-free LNG imports: Report

India, the world's second biggest crude steel producer, levies a 2.5 per cent basic customs duty and an additional 0.25 per cent social welfare tax on LNG

ArcelorMittal's India joint venture seeks duty-free LNG imports: Report
Updated On : 17 Sep 2024 | 5:40 PM IST