CATEGORIES
Scrappage Policy to turn mandatory
May boost demand for new vehicles
Fiscal ends on a high for auto sector
Auto sales in FY21 ended on a high, with a 128 percent growth in March 2021 at 320,487 units, compared to 140,566 unit sold in the year-ago month. Top six auto makers posted a whopping triple digit growth during the month.
JSW, JFE eye opportunities for steel in power sector
JSW Steel Ltd has signed a MoU to conduct a feasibility study with JFE Steel Corp of Japan to set up a grain oriented electrical steel sheet manufacturing Joint Venture company.
NMDC posts 8% growth in iron ore production in FY21
NMDC, country’s largest iron ore producer, has witnessed a spectacular growth both in production and sales in FY21.
India launches auctions for 2nd tranche of commercial coal mining
The Coal ministry launched the 2nd tranche of auction for commercial coal mining offering 67 mines for sale of coal on March 25. The technical bids would be opened on May 28 and auction would be held on June 28.
India iron ore output likely to be sufficient to meet demand
Total iron ore production from Odisha is likely to be in the region of 110 mt in 2020-21, a shortfall of around 31 percent.
Iron ore prices to stay high in 2021: Aussie report
May taper off from next year
China output cut pledge to create supply shortages
China has pledged to cut its crude steel output in 2021 from a record 1.06 billion tons it produced in the previous year to reduce carbon emissions even as it imposed curbs on steel production in Tangshan region over environmental concerns as many steel plants were found to be not sticking to pollution control rules.
Global crude steel output down 7.8% in February
China manufactured 83 mt in February, increase of 10.9% over last year and India’s production was down by 3.1% on year to 9.1 mt.
All-time high ferro alloy prices reflect supply concerns
“The current market scenario is expected to remain same for sometime reflecting increased purchasing activity due to excess order booking and tendering order quantity taken by the ferro alloys manufacturers.”
Steel Sector Braces For Stable 2021
As the rest of the economy trudged towards 2021 burdened with faltering recovery, the steel makers are posed with a happy problem of demand outstripping production levels and stocks.
Budget Wishlist: Industry Bodies Seek Export Ban, Import Duty Cut
Domestic steel makers under the aegis of Confederation of Indian Industry (CII) have sought reduction in basic customs duty on key raw materials like anthracite coal, metallurgical coke, coking coal, and graphite electrode in the upcoming Union Budget 2021.
Global Crude Steel Output Up 1.27% In January
China manufactured 90.2 mt in January, increase of 6.8% over last year and India’s production was up by 7.6% on year to 10 mt.
Traffic at major ports down 11% till November
The 12 major Indian ports handled 414.30 mt of traffic in April-November, lower by 10.53% than 463.05 mt recorded in the corresponding period of last year, according to data released by IPA.
New SAIL chairman to focus on financial performance improvement
Soma Mondal, who has taken over as Chairman of Steel Authority of India Ltd on the first day of 2021, has asked employees of public sector steel behemoth to focus on making the organization financially and structurally strong.
Year-end brings in cheer to motown
December sales bought in cheer to the top carmakers of the country as sales moved northbound on a year-on-year basis.
Seaborne coking coal offers rise marginally in December
Seaborne coking coal offers rose marginally in December as new deals were sealed at higher prices despite the Chinese import restrictions on material from Australia, sources said.
November crude steel output up 3.5% on year
India’s crude steel production grew 3.5 percent on year to 9.24 million tons (mt) in November but was down 1.9 percent from October, provisional steel ministry data showed. With 82 percent share, the private sector (51.171mt, down by 13.7 percent) led crude steel production compared to the 18 percent contribution of the PSUs.
Forging industry asks for steel, iron ore export curb
The forging industry has urged the government to ban steel and iron ore exports, as domestic steel prices shot up by 25-30 percent in the last three months due to increased exports and squeezed supply in the local market.
JSPL plans biggest global single-location steel plant
To raise Angul capacity to 25.2 mt
AM/NS India plans to double capacity
ArcelorMittal Nippon Steel (AM/NS) India, a joint venture between ArcelorMittal and Nippon Steel – two of the world’s leading steel companies aims to double the production capacity from the current 9 million tons (mt) in a phased manner, the company said recently.
Budget 2021: Capex Boost To Drive Steel Demand
A Union Budget like ‘never before’ has put revival of economic growth as the central theme which is intended to be achieved, as proposed by Finance Minister Nirmala Sitharaman, through generous capital expenditure across sectors including infrastructure to pull the economy out of the post-pandemic slowdown.
Digitalisation To Transform Steel Market
After going through three industrial revolutions that brought significant technological developments over a period of more than rwo centuries, the world is currently witnessing the fourth Industrial revolution, which is technology adoption by the world’s factories at a whole new level.
Traffic handled by major ports down 9% till December
The 12 major Indian ports handled 477.75 mt of traffic in AprilDecember, lower by 8.8% than 523.84 mt recorded for the corresponding period of last year, according to data released by IPA.
Year starts on a high for car makers
“We have seen strong bookings fueled by continued demand. Supply shortage of micro-processor semiconductors continues to be a serious challenge for the auto industry. Going forward we are working with our supplier partners to gear up our supply chain and meet the market demand.” Veejay Nakra, Chief Executive Officer, automotive division, M&M
Traffic handled by major ports down 7% till January
12 major ports handled 542 mt of total traffic in April-January 2021, lower by 7% than 586 mt recorded for the corresponding period of last year, according to data released by the Indian Ports Association.
Vale iron ore output drops 5% on month
Following production restrictions, Vale ended 2020 with 322 mt of production capacity and expects to achieve 350 mt capacity by the end of 2021.
Seaborne coking coal offers ease in February
Seaborne coking coal offers staged adecline in February as new deals weresealed at lower prices, industry sources said.
Railways' iron-ore handling down in April-January
Railways during April-January transported 127 mt of iron-ore, down 0.7% y-oy. Revenue earnings from iron ore stood at ₹10,135.05 crore.
Steel sees headwinds in rising stocks: India Ratings
Domestic hot-rolled coil (HRC) prices have corrected by 3 percent in mid-February to ₹53,750 a ton due to rising inventories with traders who are reluctant to procure steel at the high price levels since they have sufficient inventories, a slight moderation in demand from auto and pipe makers and a disparity between the mill price and trade price, a report by India Ratings has said.