Steel Industry

Sandeep Pondrik, in an interview with CNBC-TV18, said govt doesn't expect much increase in steel imports due to US-China tariff war

India's small exporters seek import duty cuts to counter US steel, aluminium tariffs

The 25% U.S. tariffs on steel and aluminium imports, effective March 12, have raised Indian exporters' concerns about declining orders and rising costs

India, Vietnam at risk of major setback from Trump's steel tariff

The global steel industry is braced for the impact of Trump’s planned 25% levies, due to start on March 12

Biden's decision to block Nippon Steel takeover creates uncertainty for US Steel workers

In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker, Nippon Steel had promised to invest $2.7 billion in U.S. Steel’s aging blast furnace operations in Gary, Indiana, and Pennsylvania’s Mon Valley.

India's steel expansion could hinder net zero emission goal: Report

PM Modi has set 2070 as the target for achieving net zero emissions, two decades later than what scientists recommend to avoid catastrophic climate impacts

India must double steel import duties to curb dumping, says ArcelorMittal JV CEO

India's steel industry faces threats from dumping and predatory pricing. ArcelorMittal Nippon Steel India CEO calls for doubled customs duties to protect domestic producers.

How strong is India’s steel in the face of Chinese slowdown?

The dumpling of steel in the Indian market will exert margin pressure on local companies

Tata Steel to receive £500 million from Britain to decarbonise Port Talbot

Tata Steel and the UK government jointly announced the agreement with a capital cost of £1.25 billion, which will include the government grant of £500 million.

India surges as second-largest steel producer; Anand Mahindra celebrates in emotional tweet

This was in response to a striking statistic that highlighted India's remarkable growth in the global steel manufacturing industry

MC Exclusive | GST refund, capital subsidy, assured coal availability to promote gasification: Coal Secy

The govt will reimburse GST on cost of coal, offer 10% capital subsidy on setting up coal gasification plants, and assure coal supply at a notified price for 15 years.

Sumangala Steel eyes Rs 1,000 crore revenue this fiscal: Official

The company reported revenue of Rs 679 crore in the last financial year, the steel firm's chairman and managing director Rajendran Sabanayagam said here.

India's steel industry now 2nd biggest, target is to double crude steel output in 10 years: PM

In his virtual address as the chief guest at the ”bhoomi pujan” of expansion of ArcelorMittal Nippon Steel India’s flagship plant at Hazira in Gujarat’s Surat district, Modi said in the past, India had to import high grade steel for the defence sector, but scenario has changed now.

India's steel output rises 2.5% to 30 MT in July-September: Report

As per research firm SteelMint, the top six steel makers — SAIL, Tata Steel, JSW Steel, JSPL, AMNS India and RINL — produced 18.29 MT steel, the rest 11.77 MT came in from the secondary sector.

Govt sets up two advisory committees to iron out challenges in steel industry

Members of the steel industry, associations, academia, and senior retired government officials are members of the two separate committees formed for integrated steel plants (ISPs) and the secondary steel sector, according to a steel ministry document.

Govt directs steel industry to draw time-bound action plan to lower CO2 emissions

According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, whereas in India, it contributes 12 per cent to the total CO2 emissions. Thus, the Indian steel industry needs to reduce its emissions substantially in view of the commitments made at the COP26 climate change conference.

Thyssenkrupp loses fight against EU veto of Tata Steel JV

The two companies in 2019 had sought to tackle over-capacity and other challenges in the steel industry via the joint venture, which would have created Europe's second-largest steelmaker after ArcelorMittal.

Export duty hike on steel items to hit projects under PLI scheme: Indian Steel Association

Imposition of export duties on steel products will send a negative signal to investors and adversely impact capacity expansion projects under PLI scheme, steel industry players said after the government removed customs duties on raw materials and hiked export taxes to check local prices.

Govt waives import duty on some raw materials for steel industry, export duty on iron ore hiked up to 50%

The tax on the export of iron ores and concentrates has been hiked to 50 per cent, from 30 per cent, while that on iron pellets a 45 per cent duty has been imposed

CREDAI urges PM Narendra Modi to curb cartelisation by cement, steel manufacturers

CREDAI has requested PM Modi to take urgent steps to arrest the cement and steel price rise for survival of the real estate sector in the country.

Editor's Take | Tata Steel to set up India’s first steel scrap recycling unit

The move will give the company an early lead among peers as scrap generation increases in the Indian economy, which is also the fastest growing steel market in the world.

Govt decides to increase the tenure of FSAs between CIL, steel industry

The new FSA tenure would be applicable from the fourth tranche of auction of coking coal linkages for the steel sector to be held shortly, Coal India said in a notice to its subsidiaries.

United Kingdom steel industry may need protection after United States tariffs: Minister

International Trade Minister Liam Fox said in parliament, "We are looking to see what impact there may be from any diversion and whether we need to introduce safeguards to protect UK steel producers."

Increased coal usage a serious setback for carbon reduction in Indian steel industry: Moody's

The global steel industry's progress in reducing emissions and energy use continues to be limited. The challenge for the industry will be to lower carbon intensity at a time when demand for steel is forecast to grow 31 per cent by 2030, from 2016 levels.

Trade war: See limited impact on Indian steel, aluminium industry, says Steel Secy

Steel sector is on a revival mode and the consumption is increasing in tandem with production, said Steel Secretary Aruna Sharma.