NMDC Ltd. is bullish on the growth prospects of Indian steel industry and geared up to meet the growing iron ore requirements in the country, N Baijendra Kumar, Chairman-cum-Managing Director, said.
Kumar, addressing the 59th annual general meeting, said this citing the National Steel Policy 2017 that aims to achieve a steel production capacity of 300 million tons (mt) by 2030-31. This comes in the back of the envisaged growth in domestic steel demand in all key sectors such as infrastructure, housing and automobile.
The NMDC achieved a record iron ore production of 34 mt and sales of 35.6 mt during 2016-17, an increase of 19 percent and 24 percent respectively year-on-year.
The company plans to increase its production capacity to 67 mt by 2021-22, largely through brownfield expansion of mines and improving evacuation.
Diese Geschichte stammt aus der October 2017-Ausgabe von Steel Insights.
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Diese Geschichte stammt aus der October 2017-Ausgabe von Steel Insights.
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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
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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.
