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.
In a communication to the World Trade Organisation (WTO), India said it is estimated that the safeguard measures taken by the UK on steel products have resulted in the decline of exports to the tune of 2,19,000 tonnes on which the duty collection would be USD 247.7 million.
A body of power consumers claimed that the tariff of Damodar Valley Corporation is now Rs 6.5 per unit in West Bengal, which is "higher by Rs two" than that in neighbouring Jharkhand.
Find out the latest in commodities with Karunya Rao and Manisha Gupta.
The steel industry is among the three biggest producers of carbon dioxide. In India, the industry accounts for 12 percent of the total carbon emissions. So, what can the industry do to minimize the harm to the environment? What is Green Steel? And which companies have committed to moving towards it? Watch this video to find out
European nations are staring at troubles both economic and political, which can have a contagion effect on multiple industries and trading partners
.The official said that NMDC's under-construction steel plant in Chhattisgarh is expected to commence operation this month, and once the demerger process is complete, the Department of Investment and Public Asset Management (DIPAM) will proceed with the privatisation of Nagarnar Steel Plant.
The rating agency also expects the steel demand in the domestic market to grow at 7-8 per cent in the current financial year, making the country the fastest-growing large steel markets globally this year.
In June, eight core sectors grew by 13.2 percent.
Tata Steel has inked pacts with three firms -- McDermott, Danieli and Hatch -- for the further technical preparations for hydrogen-based steel manufacturing in the Dutch city of Ijmuiden.
Tata Steel UK has asked for £1.5 billion for the transition to green energy, in the absence of which it might make an exit. It plans to replace the carbon-intensive blast furnaces with electric arc furnaces.
China’s steel fell by 6.4 percent in July over a year ago and 10.2 percent over June. While the rest of the world is faring no better, India kept its head above water
Vedanta is present in both ferrous and non-ferrous businesses, including oil and gas, making it highly vulnerable to commodity prices and economic cycles
Steel stocks have seen strong gains in recent weeks but CLSA India believes it's unsustainable and so does Santo. But, CJ is adamant that market is sensing a recovery rally in the sector. Watch the duo lock horns over the fate of the Indian steel stocks plus their thoughts of Max Health and HDFC AMC.
On May 21, the government hiked the duty on exports of iron ore by up to 50 per cent and for a few steel intermediaries to 15 per cent. It also waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry.
The 15 percent export duty imposed on 22 May might be halved or abolished by the end of the month.
The platform is likely to be announced by Prime Minister Narendra Modi at Independence Day celebrations on August 15, according to people with the knowledge of the plan.
Europe’s rescue act may not repeat in forthcoming quarters and India too faces its share of challenges
As per the World Steel Association (worldsteel) data, India is the only country which has registered a positive growth in its steel output during June.
Steel is one of the most widely-used alloy and any movement in its prices impacts the consumers in sectors like infrastructure and automobile.
The partnership aims to help both companies progress toward their climate change goals, and support India’s ambitions to be carbon-neutral by 2070.
India has proposed selling 100 percent stake in RINL along with management control by way of privatisation, a proposal which has led to agitation by trade unions
Tata Steel's steel sales fell by 20 percent sequentially in June quarter after exports suffered due to the levy
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.
Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. It was later extended till April 30, and again to May 31, 2022. Then it was extended till June 30.