Steel Productions

During April-January, India's imports of Russian steel reached an eight-year high, and shipments were nearly five times higher than in the same period a year ago

Steel Minister Jyotiraditya Scindia has approved the formation of 13 task forces to identify action points for each aspect of green steel production and adoption of sustainable manufacturing processes. The task forces will focus on various aspects of green steel production, including raw materials, technology, and policy frameworks. the minister said. "We are committed to promoting sustainable steel-making practices in India. Setting up task forces is a significant step towards achieving this goal. We believe that the adoption of green steel production will not only benefit the environment but also lead to the creation of new jobs and economic growth" a steel ministry statement quoted Scindia as saying. Various stakeholders of the steel industry, academia and government officials will be part of the task forces. The minister further said that steel producers need to increase the capacity of their washeries so dependence on imports for coal can be reduced. He also suggested the play

ArcelorMittal SA on Friday said its Indian steelmaking joint venture with Asian peer Nippon Steel Corp has entered into a $5 billion loan deal

In next 3-4 years, it will add about 3 mn tonnes by sweating existing assets and debottlenecking, at a likely capex of Rs 10,000-11,000 crore

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

The government, he told the gathering, has awarded 54 applications submitted by 26 companies under the production linked incentive (PLI) scheme for specialty steel

Firm's MD Abhyuday Jindal says next milestone after completing expansion would be to achieve 100% capacity utilisation, after which it may look at backward integration

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.

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 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.

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 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.

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

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

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

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

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

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

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

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