Indian Steel Production

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

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.

'Move would also drive synergies' and increase value for shareholders, says company

Steel Minister Jyotiraditya Scindia emphasised on the need to promote domestically produced steel or 'Made In India' steel, as self-reliance in its production was a top priority.

India produced 120 million tonne (MT) of crude steel during financial year ended March 31, 2022, Steel Minister Ram Chandra Prasad Singh has said. At 120 MT, the output was about 18 per cent higher compared to the country's production in the preceding fiscal year. According to official data, India produced around 102 MT steel in 2020-21. "Steel sector in India has traversed a fascinating journey from a mere 1 MT at the time of independence to 120 MT in the last (2021-22) financial year," a steel ministry statement quoted Singh as saying at National Metallurgist Award 2021 on Wednesday. The award has been instituted to recognize contributions of metallurgists working in the field of iron and steel. The areas covered in the award are manufacturing, research and development (R&D), design, education, waste management, energy conservation and their specific contribution to achieve objectives of the government's Aatmanirbhar Bharat mission. In his address, Singh further said steel ...

JSW Steel on Thursday reported crude steel production of 4.08 million tonnes in the third quarter (October to December), marking a growth of 6 per cent quarter-on-quarter and 2 per cent year-on-year.

Demerger of Nagarnar plant could create generate funds for the centre but the state's government is likely to read it as a step toward privatisation.

Aditya, son of steel baron LN Mittal, said that operations at ArcelorMittal Nippon Steel India's (formerly Essar Steel) Hazira plant in Gujarat are running at full capacity

Companies better placed to ride out slowdown now, than in previous downturn of 2016

Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.

China's contention that the goal of curbing overcapacity in steel has been achieved is only partially true and doesn't bode well for India

At present, the country is importing around 2-3 million tonne (mt) of steel from the overseas market

The Steel Import Monitoring System (SIMS) will provide advance information about steel imports to both the government and stake holders

Some, like ArcelorMittal, Sumitomo Metal may enter only via insovency route, as Make in India, 300 mn tonne production target fail to impress