CATEGORIES

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.

Car sales on a bumpy ride ahead of festivities

Plagued by the shortage of semiconductors, car sales in September saw a huge drop of 36.5 percent to 185,908 units from 292,858 units in the same month last year.

Indian Railways' iron ore handling up 36% till August

Indian Railways in April-August 2021 transported 73 mt of iron ore, up 36% from 54 mt during AprilAugust 2020.

Steel Ministry focuses on raising consumption, cost cutting measures

The steel ministry, in a recent series of meetings with officials of major state-owned and private steel makers, asked the industry to raise steel consumption across several sectors of the economy and also take steps to bring down costs of production.

August crude steel production up 8.2% y-o-y, 0.8% m-o-m

India’s crude steel production stood at 10 mt in August 2021, up 8% over August 2020 and 1% over July 2021.

ArcelorMittal bets big on decarbonisation

The Ghent project involves the reduction of CO2 emissions by 3.9 mtpa by 2030, by building a 2.5 million ton DRI plant and two electric furnaces, which will operate alongside its state-of-the-art blast furnace that can take waste wood and plastics as a substitute for fossil carbon.

Global crude steel output down 3% in August

China manufactured 83.2 mt in August, fall of 13% over previous year and India’s production was up by 8% y-o-y to 9.9 mt.

Iron-ore handled by major ports down 8% till August

The 12 major Indian ports handled 25 mt of iron ore during AprilAugust 2021, 8% lower than 27 mt handled in the same period of the previous year, according to data released by IPA.

Recycling: The route to decarbonisation

India, the second-largest steelmaker in the world, is also the second-largest importer of steel scrap. Surely India fares poorly in terms of scrap generation and consumption despite steel being the most recyclable metal in the world.

NMDC raises FY22 output target to 47 mt

“NMDC has made IT and digitalisation a strategic priority, synergising its efforts to significantly enhance competitive advantage and efficiency. We expect technology, automation and data analytics will reinvent all aspects of our business – from mineral exploration to mining, processing of ore to the sales and distribution of the product.” Sumit Deb, CMD, NMDC

More coking coal mines to be offered in auction

Govt has set up 2 committees under Assistant Secretary (Coal) for making suggestions on augmentation and consumption of domestic coking coal by the steel sector under Coking Coal Mission.

Spot coking coal offers volatile in seaborne market

Seaborne coking coal offers increased in September on limited supply and demand from markets other than China but eased slightly at the start of October. Primary producers in India showed a preference for premium grades, keeping the booking firm.

Global crude steel output down 4% sequentially in June

China manufactured 94 mt in June, increase of 2% over last year and India’s production in June was up by 21% on year to 9 mt.

Railways' iron-ore handling up 57% in Q1

Indian Railways in Q1 FY22 transported 57% more iron ore at 45 mt over 28 mt during Q1 of FY21. Revenue earnings from transportation of iron ore during Q1 of FY22 grew 69% to ₹3,743.60 crore.

AM/NS develops India's first indigenous specialist-grade steel plates for NPCIL

Nuclear power assumes strategic importance in order to unlock national energy efficiency potential. Owing to the criticality of the service applications coupled with lack of specialist manufacturing facilities among domestic plate mills, the Indian nuclear program has always imported critical alloyed steel grades from steel mills in Europe.

India June crude steel production up 21.4%

India’s crude steel production stood at 9.362 million tons (mt) in June 2021, up 21.4 percent over June 2020 and 3.4 percent over May 2021, provisional steel ministry data showed.

SAIL biggest beneficiary of high prices: analysts

Volume pressure remains

Good times for steel makers to continue

Has the steel upcycle hit a plateau?

Liberty rides sector upcycle towards turnaround

Bolstered by strong demand and record prices for steel, iron ore, and aluminium in global markets, alongside improvements in systems and operations, Liberty Steel group, owned by Sanjeev Gupta, is now on a turnaround path being overseen by a Restructuring and Transformation Committee.

Iron-ore handled by major ports up 18% in Q1

The 12 major Indian ports handled 18 mt of iron-ore during Q1 of FY22, up by 14% as compared to 15 mt recorded in the corresponding quarter of FY21, according to data released by IPA.

S&P sees Tata Steel EBITDA hitting ₹1 trillion by FY23

Global rating agency Standard & Poor sees Tata Steel’s EBITDA hitting ₹1 trillion over fiscal 2022 and 2023 despite likely correction in global steel prices. The consolidated EBITDA of Tata Steel in FY21 was ₹30,892 crores or about ₹309 billion.