Page 4 - Steel Industry

Imposing duty on steel items a knee-jerk action for industry: ISSDA chief

The government's objective behind the move was to cool down steel prices. However, the prices anyway had started showing a downward trend, the industry expert said.

Cement, steel, paint firms eye painful quarters ahead

Rising interest rates, along with elevated raw material cost, are hitting the building material sector hard. Find out about the near-term sore points for related industries and how to play the theme.

Steel industry body seeks govt intervention to check coking coal price

Industry body ISA has sought the government's immediate intervention to check coking coal price, which has grown three-fold to around $450 a tonne

Steel softens sharply on subdued demand outlook, rising iron ore output

Futures prices of steel on National Commodity & Derivatives Exchange Limited (NCDEX) have softened significantly in the past one to one-and-a-half month period.

India's core sector output rises to six-month high of 8.4% in April

The eight sectors - coal, steel, cement, fertilisers, electricity, natural gas, refinery products, and crude oil - comprise two-fifths of India's total industrial production

Steel industry: From sprint to jog as export duty hike plays speed breaker

Now, beginning June, steel mills are expected to announce a cut for monthly contracts

Tata Steel says govt's export tax decision could alter output targets

T. V. Narendran, chief executive of India's biggest steelmaker by revenue, said that while Tata Steel understood the inflationary concerns, such measures can hit the steel industry over longer term

Domestic steel industry hit by moving train post govt's duty measures: ICRA

The domestic steel sector has been "hit by a moving train," ratings agency Icra said reacting to the duty-related measures taken by the government.

Centre waives import duty on some raw materials for steel industry

The import duty on ferronickel, coking coal, PCI coal has been cut from 2.5%, while the duty on coke and semi-coke has been slashed from 5% to 'nil'

Weak rupee to make imports costly for metal firms, exports may get a push

According to CRISIL Research, India imported close to 57-59 million tonnes of coking coal - a key input for steelmaking - worth Rs 1 trillion in fiscal 2022

JSW to set up Rs 150 crore steel plant in south Kashmir's Pulwama

While JSW steel limited is all set to come up with its Rs 150 crore project in south Kashmir's Pulwama district, Apollo Hospitals will set up its medicare facility in Jammu district

UK-based investor Nithia Capital eyes more acquisitions in steel space

Firm has been active in Indian steel space the past few years. Earlier in the month, it completed acquisition of Crest - under IBC - for a consideration exceeding Rs 600 crore

Vedanta to move towards green steel; working on solution for hydrogen use

Vedanta's Sesa Goa Iron Ore Business said it is looking for a tie-up with IIT-Bombay to carry out a research for manufacturing pig iron ore using hydrogen in place of coke.

Winding path to 'green steel': Transition for sector needs policy enablers

The root of the problem lies in the centuries-old steelmaking process

Strategy needed for 300 mt steel output target by 2030: Minister

The production was 120 mt in 2021-22. There is also a need for suitable policy support to increase the production of iron ore production and other raw materials.

Russian-Ukraine war impact: Steel producers feel a new pinch in India

The Russia-Ukraine crisis has seen product prices soar, but raw material costs are rising even further

European Union hikes tariffs on India, Indonesia stainless steel makers

The European Union has determined that imports of cold-rolled flat stainless steel products from India and Indonesia benefit from unfair subsidies and imposed tariffs

Reprocessing scrap will boost India's steel production: Minister Ram Singh

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

Bright outlook for steel makers over fears of Ukraine war-led supply crunch

High input costs amidst supply disruptions, and adverse change in output/demand in key markets like China are downside risks

Expensive crude oil pushing up raw material prices: Jindal Steel & Power MD

There is a need to control energy prices across the globe as rising crude oil rates, amid the Ukraine crisis, are making raw materials costlier for steel industry, said to a top industry executive