Steel Production

Core sector growth rebounds to 2% in September

The performance of eight core industries was lower in the first half of the current fiscal year compared with the growth numbers witnessed in H1FY24.

Govt selects SAIL, 2 consortiums for pilot projects for using hydrogen in steelmaking

A financial support of Rs 347 crore will be made available from the government for the pilot projects, which are likely to be commissioned in the next 3 years, the Ministry of New and Renewable Energy said.

Heavy industries and steel minister requests plan for Vizag Steel revival

Minister says would work on a plan to infuse funds once the company works towards increasing capacity

JSW Steel reports 12% surge in Q3 crude steel production

Steel sector in India is poised to clock its third consecutive year of double-digit growth, at 11-13 percent on-year in the current fiscal, according to Crisil.

Availability of green hydrogen to reduce dependence on coal in steel making: Tata Steel CEO

Tata Steel plans to scale up the usage of hydrogen in the steel-making process after the successful completion of the pilot project at its Jamshedpur plant in Jharkhand, said Narendran.

Green steel standoff lingers, Tata Steel to decide on UK assets in 2 years, says Narendran

In the worst-case scenario, if the UK government did not finance a green transition by the company, different assets would be closed as they reached end-of-life, said the steelmaker’s chief executive.

Chart of the Day: Odisha grabs the steel output crown

Odisha’s push for value addition of its iron ore deposits within the state is bearing fruit, Maharashtra saw the second highest growth in FY18-22

Special steel production under PLI schemes to save forex outgo: Faggan Kulaste

As many as 27 companies have signed 57 agreements with the government under the first edition of the production-linked incentive (PLI 1.0) scheme for specialty steel.

January core sector growth at 7.8%, up from December

The growth in January was aided by a jump in the output of fertilisers, Coal, electricity, steel, natural gas, cement and refinery products, as compared to the corresponding period last year, the data showed.

Kalyani Group aims to manufacture 250,000 tonnes of green steel in 2023-24: Amit Kalyani

Green steel is a variety manufactured without the use of fossil fuels. It is produced by using low-carbon energy sources such as hydrogen, coal gasification or electricity rather than coal-fired plants.

After doubling production in last 8 years, India world's 2nd largest producer of steel: Steel Minister Jyotiraditya Scindia

Steel Minister Jyotiraditya Scindia said India intends to double its steel production to 300 million tonnes per annum by 2030.

Tata Steel executes implosion of two obsolete units in Jamshedpur coke plant

The two obsolete units in the coke plant will be replaced with newer versions, which are equipped with the latest technology and are environment-friendly, the company said.

Jyotiraditya Scindia pitches for guidelines to utilise scrapped vehicles for steel production

The minister said recycling is something that is not only the need of the hour but also imperative.

Don't see further price correction: JSW Steel official

Steel prices fell around 40 percent to Rs 55,000-57,000 a tonne in the domestic market.

JSW Steel partners Smartex over low-emission production

“Indian steel industry needs innovation in low-emission alloy making and financing solutions at a comparative cost advantage to reach the next level of steel decarbonisation,” said Seshagiri Rao, Joint MD, JSW Steel, and Group CFO.

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.

India to become world's number one producer of steel: Union Minister Jyotiraditya M Scindia

On Tuesday, Union Minister Jyotiraditya M. Scindia exuded assurance that India would soon overtake China as the world's top steel producer. After China, India is the second-largest producer of crude steel worldwide.

Government trying to chill steel prices some more

In May, the government had waived customs duty on the import of some raw materials including coking coal and ferronickel, which helped reduce prices.

JSW Steel’s crude steel production up 22% YoY at 16.67 lakh tonnes in April

Production of flat-rolled products rose 25% to 12 lakh tonne, while that of long-rolled products increased by 5% to 3.54 lakh tonne in April 2022 compared to April 2021

Vizag Steel reports historic high revenue of Rs 28,000 crore

The company had reported a sales turnover of Rs 17,956 crore during the fiscal 2020-21.

India steel output grows 18% to 118 MT in 2021

India, which is the second largest steel producing nation, had manufactured 100.3 MT steel in 2020 and China had produced 1 064.7 MT of steel in the same year, World Steel Association (worldsteel) said in its report.

Ideas For Profit | IFGL Refractories: Is this proxy play on steel cycle worth investing?

IFGL is a proxy play for the increased production of steel, likely to be seen in FY22 and FY23. Investors can accumulate this stock and add on decline. We had also recommended IFGL back in April 2021. We expect revenue growth of 10 percent and 12 percent respectively for FY21 and FY22. IFGL is trading at a P/E multiple of 14x/11x FY22E and FY23E respectively.