“Fortunately, the numbers of new infections in India have started showing some decline and with vaccinations, I am hopeful that India will be able to overcome the situation sooner rather than later, which will help us focus our energies on the profitable growth,” said R J Hughes Chairman of Linde India in his letter to shareholders.
Linde is a major supplier of industrial as well as medical oxygen in India.
The Central government has allowed supply of oxygen to certain industries like on ‘temporary basis’, a decision taken after the Union Home Ministry got a request from oxygen users to allow them use oxygen for industrial purpose.
Some of the industries that made the request were secondary steel units, continuous process industries, furnaces, refineries, aluminum, copper processing plants, infrastructure projects and plants, Micro, Small & Medium Enterprises (MSMEs) exporters of manufacturing sector requiring oxygen for production, and also food processing units.
“Department for Promotion of Industry and Internal Trade (DPIIT) may allow usage of liquid oxygen to the above-mentioned industries/ projects/ units on a temporary basis subject to ensuring an adequate supply of liquid medical oxygen to hospitals and other medical purposes as per demands of States/ UTs as well as adequate supply to industries/ sectors such as ampules and vials, pharmaceuticals, manufacturing of oxygen cylinders and PSA plants, neutral glass tubing and defence forces,” Home Ministry said.
The facility was inaugurated recently by Steel Minister Dharmendra Pradhan along with Faggan Singh Kulaste, Minister of State for Steel.
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Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
