Page 2 - Steel Productions

Chance for India to make steel for domestic, global needs: T V Narendran

Welcoming the government's move to remove export duty on steel, Tata Steel CEO T V Narendran said India has a great opportunity to make steel for domestic consumption as well as to meet global needs. "We welcome the government's decision to roll back the export duty on steel products and iron ore, imposed to deal with the inflationary situation, and we acknowledge the same," Narendran told PTI. India, being richly endowed with iron ore, has a great opportunity to make steel in India, for India, and for the world, he said. China, Japan, and South Korea, together export around 150 million tonne of steel annually despite importing most of their iron ore needs, Narendran noted. Six months after imposition of the levy on May 21, the government removed the export duty on steel items and iron ore to nil effective from November 19, 2022.

French mineral firm Imerys plans to ramp up Vizag plant production

Will increase calcium aluminates capacity by 2030 to about 50,000 tonnes from 30,000 tonnes currently in line with India's target of achieving a 300 million tonne crude steel capacity

JSW Steel reports combined production growth of 12% to 5.68 MT in Jul-Sep

JSW Steel has reported a 12 per cent year-on-year growth in its combined steel production at 5.68 million tonne (MT) in the quarter ended September 2022. In the year-ago-period, its combined steel output was at 5.07 MT, JSW Steel said in a statement. "JSW Steel reported its group combined crude steel production at 5.68 million tonne, registering a growth of 12 per cent y-o-y, including the production at jointly controlled entities," it said. The jointly controlled entities include Bhushan Power & Steel Ltd (BPSL) and JSW Ispat Special Products Ltd (JISPL). The production at 5.68 MT was 3 per cent down compared to 5.88 MT in April-June period of ongoing fiscal year. "The drop in production is attributable mainly to extended maintenance shutdowns in JISPL, subdued market conditions in the USA and lower capacity utilisation in other locations in India due to supply and logistics constraints in sourcing of iron ore and steep decline in export volumes," it said.

AM/NS India receives environmental clearance for Hazira plant expansion

This increased steel manufacturing capacity represents a significant boost for the government's National Steel Policy, which envisages doubling domestic capacity to 300 MTPA by 2030

JSW Steel posts 22% jump in crude steel production in August this year

JSW Steel on Monday reported a 22 per cent jump in crude steel production in August this year to 16.76 lakh tonne. The private steel major had produced 13.77 lakh tonne in the year-ago month. The production of flat products at 12.01 lakh tonne in the last month was higher than 8.99 lakh tonne in August 2021. Long product volume grew by 25 per cent to 3.75 lakh tonne in the month under review as compared to 3.01 lakh tonne in the corresponding month last year. JSW officials said the average capacity utilisation was lower at 87.4 per cent due to a shortage of iron ore both in Karnataka and Odisha regions.

Coal crisis: Steel makers in Chhattisgarh look to enhance supply

The mineral-rich state contributes about 20 per cent to the country's secondary steel output

Export levy impact: Tata Steel deliveries drop 2% YoY despite higher output

Tata Steel said domestic despatches were up 5% YoY, leveraging a strong marketing network and an agile business model

Global steel industry could face $518 billion stranded asset risk: Report

Much of this stranded asset risk is concentrated in Asia: 80 per cent of the BOF steelmaking capacity under development globally is planned in China and India

Reprocessing scrap will boost India's steel production: Minister Ram Singh

Singh said India was producing over 118 million tonnes of steel and by 2030 it is planning to produce 300 million tonnes of steel

Ukraine conflict: Steel prices jump up to Rs 5k/tonne as supply chains hit

After the price revision, a tonne of HRC will cost around Rs 66,000, while the buyers will get TMT bars for about Rs 65,000 per tonne

Coronavirus drags Tata Steel production and sales volume in Q1FY21

June sees improvement in sales, utilisation up to 80 per cent

We have higher acquisition targets in India: Sanjeev Gupta of Liberty House

In a Q&A, the executive chairman of the group dwells on the initial frustrations while entering India, and the road ahead

Pradhan urges all industry stakeholders to use domestically produced steel

The minister further said there are many sectors which still do not use domestically produced steel due to various reasons.

India may impose anti-dumping duty on steel products from EU, Japan, US

In international trade parlance, dumping happens when a country or a firm exports an item at a price lower than the price of that product in its domestic market

JSPL's all-round show in Q4 leaves investors happy, analysts maintain 'buy'

Operational performance, volume growth guidance bode well

JSPL's all-round show in Q4 leaves investors happy, analysts maintain 'buy'

Operational performance is expected to remain good, and volume growth guidance too bodes well

The future is back in the pits for steelmakers as demand falls rapidly

Iron ore extraction in a falling demand scenario due to cutbacks in steel production is weighing on its prices

Covid19 impact: Steel companies struggle with labour shortage post lockdown

The public sector steel major is currently operating at 60 per cent production level and will be scaling down gradually, they said

Covid-19: Challenging times ahead for domestic steel industry, says Icra

Weak domestic demand is likely to lead to inventory pile up, exerting pressure on steel prices, agency says

Swiss firm plans steel plant in Kadapa district, to invest Rs 120 bn

IMR chief and other officials came up with the proposal during a meeting with the Chief Minister YS Jagan Mohan Reddy here on Thursday.