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Injection of hydrogen in blast furnaces helps reduce consumption of coal in the production process, thereby reducing a company's carbon footprint.
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India's steel exports for FY2022-23 stood at 6.72 million metric tonnes (mt), down about 50 percent year on year, while the imports were at 3-year high.
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Last month on March 29, the Ministry of Coal signed agreements for the 29 coal mines auctioned under the sixth round of auction.
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The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country.
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A flood of investment intentions to make in India may be reviving the capex itch among incumbents, posing a risk to their recently turned healthier balance sheets
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India Inc has stepped forward to lend a helping hand as the country's COVID-19 case count continues to rise unabated and an acute shortage of medical oxygen keeps hospitals on the edge. Watch the video to know how industry majors and startups are helping to keep the supply chain moving and augment the availability of medical oxygen in different parts of the country.
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The sharp slowdown in China’s industrial sector in May keeps the risk on for metal producers
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Steel Secretary Aruna Sharma said the sector provides huge growth potential against the backdrop of the country becoming the world's second largest alloy producer with increasing consumption.
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Though the company came out of the CDR in 2006, a little more than a decade later it finds itself in trouble again.
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Ever since the emergence of private steelmaker JSW Steel, and Tata Steel trimming its losses in Europe, SAIL has found itself overshadowed.
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"Promoters of most large steel companies were quite intent to regain control and did appear to offer the most competitive bid during the resolution process but are barred from doing so now," domestic brokerage Kotak Securities said in a report today.
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"Domestic metal names will report sequential decline in earnings led by lower prices, increased input costs and lower volumes (a few cases of outages). We expect earnings of steel companies to decline sequentially due to lower steel realisation...and use of high cost coal inventory," it said in a report.
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Sajjan Jindal hinted that the worst is behind the steel makers with a recent surge in demand and prices, which is reflected in the numbers showing a jump in exports.
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The government is considering whether to ease the repayment mechanism further for cash-starved steel companies which are facing the crunch due to persistent slowdown
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Overall, states can look to save about Rs 25,000 crore when the new coal linkage policy is implemented by all states, says Union Minister for Power and Coal Piyush Goyal.
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According to Adrian Mowat of JP Morgan the new government has done a lot of good things at an executive level and the house is particularly excited about the proposal about managing food inflation.
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Angel Broking has come out with its report on metal sector. According to the research firm, prices are expected to improve in FY2015 as announced production cuts restore demand-supply mismatch in the industry. Top picks in the sector are NMDC, Hindustan Zinc and Tata Steel, Angel added.
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In an interview to CNBC-TV18, Varun Lohchab, MD & Co-Head of Research, Religare Capital Markets said that from result perspective, it will not be a great quarter especially for the steel companies.
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Steel companies are likely to report a muted performance for the June quarter due to lower volumes on account of demand worsening during the quarter.
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RK Goyal, managing director , Kalyani Steel, told CNBC-TV18 that the Supreme Court‘s in-principle acceptance of the CEC report was a positive sign that the restoration and rehabilitation plan at mines could be implemented.
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The coal ministry is likely to begin block allocation process this week, say CNBC-TV18 sources. Around 50 block situation in West Bengal, Andhra Pradesh and Jharkhand will be up for grabs by cement, power and steel companies.
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Steel prices are set to see a rise despite the fall in the input prices. Coaking coal and iron-ore prices have come down in the last one month, but the rupee has depreciated a lot thereby adding to the costs, reports CNBC-TV18’s Swati Khandelwal quoting sources.
