Steel

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

India's core sector output expands at six-month high of 8.4% in April

The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022.

Ship to take metal from Mariupol to Russia; Ukraine decries looting

A ship has entered the Ukrainian port of Mariupol for the first time since Russia completed its capture of the city to load metal and ship it east to Russia,

Export duty hike: Ficci seeks 3 months to clear 'pending steel orders'

Three-month exemption will provide some relief to the players whose orders are in the pipeline, an industry executive said.

India exports 13.5 MT finished steel worth Rs 1 trillion in FY22: Minister

According to official data, India's finished steel exports were at 10.78 million tonne in 2020-21

Rising raw material cost pushes steel prices to fresh record highs

Raw material prices had been on the rise, but since Russia waged war on Ukraine, prices surged.

Amid record high prices, are industrial metals the new oil in India?

Data providers such as Reliance Jio, Airtel and large tech startups such as Flipkart, Paytm have yet to earn big profits, while metal giants are becoming important in an emerging low-carbon world

Urgent need to move towards green steel: Ram Chandra Prasad Singh

Steel minister Ram Chandra Prasad Singh on Sunday highlighted the need to move towards green steel, saying the use of hydrogen in the iron ore and steel sector would help reduce coal imports.

US agrees to lift Donald Trump era taxes on British steel, aluminum

The United States has agreed to lift tariffs on British steel and aluminum, mending a rift between allies that dates back to the Trump administration.