Page 2 - Steel

India to reject call for anti-subsidy tax on some Chinese steel products

As per World Trade Organisation rules, a member country is allowed to impose an anti-subsidy duty if a product is subsidised by the government of its trading partner

Betting on India's growth, top steel firms in midst of big expansion plans

Private sector steel-makers have aggressive expansion plans to the end of the decade betting on faster economic growth

India's steel production rises 4.1% in May, global output falls 5%

India has registered a 4.1 per cent growth in its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World Steel Association (worldsteel). Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with 90.1 MT crude steel production, worldsteel data showed. India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report. Japan's output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually. Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Trkiye 2.9 MT and Iran produced 3.3 MT in May 2023. Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country. I

Indian Steel Association, AISC partner to unlock opportunities in steel

Industry body Indian Steel Association (ISA) on Thursday announced signing an agreement with ASEAN Iron and Steel Council (AISC) to unlock new avenues of growth and sustainability in steel sector. ISA is the apex industry body which represents the issues and interests of the domestic steel industry. The Memorandum of Understanding (MoU) between the two organisations was signed on Sunday May 21, 2023 in Manila, Philippines, ISA said in a statement. "ISA and AISC signed a MoU for bilateral cooperation. It aims to leverage the strengths, expertise, and resources of both organizations to unlock new avenues for growth, innovation, and sustainability in the steel industry," it said. The delegation from India was led by ISA president and AMNS India CEO Dilip Oommen and ISA Secretary General Alok Sahay, while AISC President and President Director of PT Krakatau Steel Purwono Widodo attended the MoU signing. Widodo emphasised the significance of the steel industry in both India and ASEAN .

Indian steelmakers look for government support to go the green way

Transition calls for large investment but demand for and premium on eco-friendly steel remains dull

JSW Steel crude steel production grows 7% YoY to 1.7 MT in April

JSW Steel on Wednesday posted a 7 per cent growth in crude steel production on standalone basis at 17.77 lakh tonne (LT) in April 2023. The company had produced 16.67 LT steel during the same month last year, JSW Steel said in a statement. In April 2023, the company said the production of its flat-rolled products rose 16 per cent to 13.92 LT from 12 LT a year ago. However, its long-rolled products output fell 9 per cent to 3.21 LT from 3.54 LT in April 2022. "Production of rolled long-products is lower due to planned capital shutdowns taken at Salem and Vijayanagar plant locations during April 2023," it said. JSW Steel is among top six steel manufacturing companies in India.

Jindal Stainless supplied 300 tn steel for Ambedkar statue in Telangana

Jindal Stainless Ltd on Tuesday said it supplied 300 metric tonnes of stainless steel for 125-ft tall statue of B R Ambedkar in Telangana. On April 14, Telangana Chief Minister K Chandrasekhar Rao unveiled the 125-ft tall statue of Babasaheb in Hyderabad on the occasion of his 132nd birth anniversary. In a statement, the steel maker said it has supplied grade 304 hot-rolled stainless steel (SS) in a thickness range of 12 mm - 32 mm. The SS has been used in the armature structure of the statue. The statue is located on the banks of Hussain Sagar lake, in the vicinity of the newly built Secretariat, which has also been named after B R Ambedkar.

Vardhman Group Celebrated Its 50 Glorious Years in the Steel Business

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Core sector output slows to 3-month low of 6% in Feb, crude production dips

Six of eight key infrastructure industries report sequential deceleration

One year of Ukraine war: A roller-coaster ride for steel companies

In 2021, steel exports from the two countries stood at about 48 million tonnes, accounting for around 10% of global steel trade

Govt extends quality control order for ferronickel grade till July 23

The government has extended the enforcement date of its steel and steel products quality control order for a ferronickel grade by another six months till July 23 this year. "The Steel and Steel Products Quality Control Order dated December 22, 2020, and subsequent order dated November 1, 2022, the date of enforcement of Indian Standards (IS) 4409:1973 specification of ferronickel is extended further,"a steel ministry notification said. The extension is for six months till July 23, 2023. The government had earlier given a three-month extension till January 23, 2023. Ferronickel is imported mainly from European countries besides Russia and China to produce stainless steel and alloy steel, which are used in white goods, metro trains, railways etc.

Green hydrogen pilot to cover steel, transport and shipping sectors

The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives

India to seek easing of EU steel quotas, tarrifs in trade talks

New Delhi last month slapped anti-dumping import duties on stainless steel seamless tubes and pipe imports from China

NMDC: A long-term play on steel cycle; may see decline in FY23 revenues

NMDC's formal demerger of the steel plant may be followed by an initial public offering, or the government could look for a stake sale

RINL supplies 1,800 tonnes of structural steel for AMNS expansion project

Visakhapatnam-based RINL has supplied 1,800 tonnes of structural steel to AMNS India for its expansion project in Hazira, Gujarat. On October 28, the Gujarat-based steel maker AMNS India kicked off the Rs 60,000-crore expansion project to scale up the capacity of its steel plant to 15 million tonnes (MT) from about 9 MT at present. "#RINL Ahmedabad & @larsentoubro officials flagged off first consignment of structural steel (1800 tons) to ArcelorMittal Nippon Steel, Hazira for the expansion project," Rashtriya Ispat Nigam Limited (RINL) said in a Tweet. Structural steel is a type of steel used for making construction materials. Under the Ministry of Steel, RINL is among the top six steel producers in the country with an annual capacity of about 7.5 million tonnes. ArcelorMIttal Nippon Steel (AMNS) India is a joint venture (JV) company of Luxembourg-based ArcelorMittal and Nippon Steel of Japan. In 2019, the two companies completed the acquisition of the Essar Steel Limited plant .

Govt extends date of quality control order for 2 steel grades till Jan 23

The government has extended the enforcement date of its Steel and Steel Products Quality Control Order for two grades of ferrosilicon and ferronickel by three months till January 2023. "The Steel and Steel Products Quality Control Order dated December 22, 2020, and subsequent order dated April 26, 2022, the date of enforcement of Indian Standards (IS) 1110:1990 ferrosilicon specification and IS 4409:1973 specification for ferronickel is extended further," according to a Steel Ministry notification. The extension is for three months till January 23, 2023, the notification dated November 1, 2022, said. According to an expert, ferrosilicon is imported from countries like Bhutan, South Africa etc to make CRGO (cold rolled grain oriented steel) and alloy steel, which are used to manufacture transformers, motors, rotors and other electrical items. The order paves way for the import of these two grades without any duty for another three months, as per the notification. Speaking to PTI ov

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

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

35 firms submit applications under PLI scheme for specialty Steel: Scindia

As many as 35 companies have submitted 79 applications under the PLI scheme for specialty steel, Union Minister of Steel Jyotiraditya Scindia said on Tuesday. The minister shared the information while speaking at the 'National Management Convention' organised by the All India Management Association (AIMA) in the national capital. "We closed all the applications two days ago and we received close to 79 applications from 35 companies. Looking at putting in place a capacity close to 28 million tonne per annum (MTPA) of new specialty steel capacity which will result in the creation of 70,000 jobs," he said. The applicants include major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official told PTI. However, there was no proposal from any foreign entity. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. September 15 was the last date for manufacturers to

Govt extends deadline for PLI applications for specialty steel for 5th time

The government has for the fifth time extended the deadline to submit applications under the production-linked incentive scheme for specialty steel till September 15