Several top companies, led by steel majors ArcelorMittal Nippon Steel India (AM/NS India), JSW Steel, Tata Steel and Hindalco, are planning to expand capacity in the next few quarters
Demand will be robust and India will quickly recover from Covid impact, he says
With modernisation of Baytown plate mill, the utilisations will more than double leading to conversion costs reducing by 33-40 per cent, says company
Oommen says major customers have indicated the current surge in Covid cases may have a limited impact on demand, but the situation is being closely monitored
While Covid-19-led lockdowns across the globe destroyed demand in the early part of 2020, a supply cut-driven rally and sharp recovery in the auto sector have emerged as big themes
The group's ESL Steel is looking to hit the ground with its plan of doubling capacity towards the end of the fourth quarter
Rising volumes, expanded capacities, operating leverage, better realisation and debt reduction to aid earnings
Though steel companies had to wait to finalise prices, the wait may have proved advantageous for them. Prices have been on an upswing since the country started unlocking
The mandatory registration was earlier imposed on about 300 items. Now about 530 more products have been added
The government on Thursday stressed the need to cut import dependence for special grade steel, exhorting the domestic players to go for research and development activities and take required measures to make India self-reliant in value-added steel production. Union Minister of State for Steel Faggan Singh Kulaste, while speaking at a Ficcci event, said though the country is the second largest producer of crude steel in the world, it is purely dependent on imports for special grade steel. Value added steel or special grade steel is used in segments like power, ship, rail, metro, defence, auto etc. Kulaste asked steel makers to identify those grades of steel which are not manufactured in the country and are widely used and develop them in India. He said the industry players can conduct research and development (R&D) activities, go for transfer of technology or form Joint Venture to set up special grade steel plants in the country. This will help India become 'Aatmanirbhar' in ...
An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage
The plant is the only greenfield project slated for commissioning in the near term. Sources said it would have been commissioned by now had it not been for Covid-19
Pradhan said the government has set a target of providing 100,000 such houses, but the industry should build many more steel-intensive, low-cost houses, which will be a model for others to emulate
Improving realisations and cheaper raw material should help profitability, though domestic demand is yet to reach pre-Covid levels
Though the exact figure for semi-finished exports to China is not known, steel producers say a bulk would have gone to China.
Infrastructure steel consumption has not picked up yet. Some steel consuming segments like auto have started their production. Full revival will take some time, says Dilip Oommen
Ensuring return of labour as important as sending them back home, says Seshagiri Rao
Credit costs could touch Rs 2.7 trillion
The first of a three-part series looks at how manufacturing units are gearing up to the new normal
The company said that it had moved to match production with the evolving orderbook; steel shipments for 2Q 2020 were expected within the range of 13.5 million tonnes to 14.5 million tonnes