Steel ministry to set up a working group to monitor usage of steel across the country

1 February 2017Press release

Budget overlooks plight of stainless steel industry: ISSDA

KOLKATA: Indian Stainless Steel Development Association (ISSDA), a stainless steel industry body has said that the union budget 2017-18 has overlooked the plight of stainless steel industry. Basic Customs Duty on finished products has been not increased inspite of continued surge in import of stainless steel products into the country.

While it welcomed the move to remove basic customs duty on nickel it pointed out that a major part of the stainless steel industry's demand for nickel..

Read more at:
http://economictimes.indiatimes.com/articleshow/56918142.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

8 February 2017News

Rate at which iron ore reserves are increasing is ‘very less’: NMDC

National Mineral Development Corporation (NMDC), a Navratna public sector undertaking that is India’s largest iron ore producer, has told the Parliamentary Standing Committee on Steel and Coal that while the rate at which the country’s iron ore reserves are increasing is “very less”, the demand for this mineral remains “huge”. “The rate of reserve augmentation is very less as compared to huge demand for the iron ore. Hence, innovative, substantial iron ore exploration shall be strongly pursued. A dedicated fast track iron ore exploration programme to convert iron ore resources (unexplored iron ore areas) to reserve category is needed to meet the demand of iron ore in the coming decades,” the company stated. Therefore, according to NMDC, the way forward is a dedicated fast track iron ore exploration programme, intensive drilling to build reserves, utilising low-grade iron ore, exploring and developing the abundant low-grade iron ore reserves and reduction in loss by recovering iron ore quantity from slimes. Slime is an iron ore particle of a size 0.15 mm or less that is discarded as waste during the mining and processing stages.

Source:Indian Express - See more at: http://www.metaljunction.com/news/newsdetail/Rate-at-which-iron-ore-reserves-are-increasing-is-very-less-NMDC_1#sthash.Neab13u8.dpuf

6 February 2017News

Steel sector must gear up, face global competition: Steel Minister

Asserting that the steel sector has started "stabilising", Steel Minister Chaudhary Birendra Singh today said the industry must gear up to face global competition as protectionist measures like minimum import price (MIP) and anti-dumping can not continue indefinitely.

"At least now I am of the view that steel industry as such is stabilising and if everything is stabilised then we may think which are the components which should again be put in MIP (list)," Singh told PTI in an interview.

He further said that steps taken by the government like MIP and anti-dumping duty on certain products have helped improve the condition of the steel sector which has suffered on account of glut in the global market.

"All put together now (steel) import has come down to 34 per cent and our (steel) export is now 58 per cent higher as compared to last year (fiscal)," he said.

The government, he said, has already indicated to the industry that protectionist measures like MIP and anti dumping cannot be provided indefinitely.

"But, on the other hand, we have also suggested the steel industry that this kind of continuance will not go on indefinitely," he said.

Giving relief to domestic steel producers against cheap in-bound shipments, for the first time, MIP was imposed in February last year on 173 items. Later, the number of products were reduced.

"When we started with this (MIP) it was 173. Now we are just left with 19," the minister said.

Last month, the government had said that it was taking permanent measures to counter unfair trade practices as per international norms.

A total of 124 steel products have been covered by provisional anti-dumping duties and final orders on it are expected in due course, the government had said.

Steel makers had urged the government to extend MIP on certain products, saying its imposition has marginally improved the industry's viability after a long period of subdued prices.

Accelerating imports at predatory prices from steel surplus countries like China, Japan and Korea have been a major area of concern for the domestic industry since September 2014.

Source:deccanchronicle
- See more at: http://www.metaljunction.com/news/newsdetail/Steel-sector-must-gear-up-face-global-competition-Steel-Minister_1#sthash.I9INcr7U.dpuf

23 June 2017News

Crude steel production in India was 72.35 MT, with the total crude stee...

Crude steel production in India was 72.35 MT, with the total crude steel production growing at a CAGR of 4.90 per cent over the last 5 years & reached 89.79 MT in FY16

11 July 2017News

Imported steel must undergo a minimum prescribed value addition of 15 per cent in order to be eligible for procurement by government departments, the steel ministry said today.

Min 15% value addition must for procurement of imported steel

Imported steel must undergo a minimum prescribed value addition of 15 per cent in order to be eligible for procurement by government departments, the steel ministry said today. The government in May had approved the Domestically Manufactured Iron & Steel Products (DMI&SP) Policy for providing preference to locally produced iron and steel products.

14 July 2017News

The fifth round of coal block auctions that was set to start next week is in doldrums, having received tepid interest from steel makers.

Steel companies stay away from coal block auctions

The fifth round of coal block auctions that was set to start next week is in doldrums, having received tepid interest from steel makers. Bad financial position of most steel companies is being seen as the reason behind the lukewarm response. Some of the coal blocks offered have not received even the minimum number of three bids required for reverse e-auction, sources said. A senior coal ministry official said the fifth tranche of mine auctions was carried at the steel ministry’s insistence.

18 July 2017News

Steel industry on Saturday said with goods and services tax (GST) rollout unorganized players in the sector will

Steel industry on Saturday said with goods and services tax (GST) rollout unorganized players in the sector will have to move to organized form of doing business. The GST—India’s biggest tax reform since Independence—was rolled out at the stroke of Friday midnight, unifying more than a dozen central and state levies.

20 July 2017News

India’s steel consumption increased by 4.6 per cent to nearly 21 million tonne in the first quarter of the current fiscal over the same period in 2016 .

Indian Steel Consumption Increased By 4.6 Percent in April-June 2017

India’s steel consumption increased by 4.6 per cent to nearly 21 million tonne in the first quarter of the current fiscal over the same period in 2016 .

27 July 2017News

Indian steel companies remain exposed to imports from other Asian countries.

Extension Of Anti-Dumping Duty Credit Positive For Steel Companies: Moody's

Indian steel companies remain exposed to imports from other Asian countries. The continuation of government measures to protect the domestic steel industry is therefore, imperative, especially with global and regional overcapacity.

29 July 2017News

India has slapped anti-dumping duty on certain cold-rolled...

Government Imposes Anti-Dumping Duty On Cold-Rolled Flat Steel Items

India has slapped anti-dumping duty on certain cold-rolled flat steel products from four nations including China and South Korea to guard domestic industry from cheap imports.

1 August 2017News

The government move to extend the Safeguard Duty of up to 20 per cent

Extension of Safeguard Duty On Steel To Help Industry: ISA

The government move to extend the Safeguard Duty of up to 20 per cent on some steel products for two years against cheap imports will aid the industry's recovery, Indian Steel Association said on Thursday.

3 August 2017News

Spending on infra projects such as housing for all and smart cities

Government Spending Key for Revival of Indian Steel Sector: Fitch

Spending on infra projects such as housing for all and smart cities is the key for the revival of the Indian steel industry, which faces headwinds like cheap imports, global agency Fitch said.

8 August 2017News

The Union Ministry of Steel is planning revival of Visvesvaraya

The Union Ministry of Steel is planning revival of Visvesvaraya Iron & Steel Plant, now an alloy and special steels unit of Steel

16 August 2017News

South Korean steelmaker Posco has signed an agreement with Uttam Steel and Power to set up a 3 million tonne-per-year integrated steel

Posco signs deal to set up steel plant in Maharashtra

South Korean steelmaker Posco has signed an agreement with Uttam Steel and Power to set up a 3 million tonne-per-year integrated steel plant in Maharashtra, the Indian company said recently.

The proposed joint venture plans to set up the steel plant in two phases and take advantage of an expected surge in steel demand in India.

Uttam Steel and Power is owned by the co-promoters of Uttam Galva Steels Ltd , which is jointly owned by the world's largest steelmaker ArcelorMittal

18 August 2017News

A detailed project report (DPR) on the proposed Rs 5,000-crore steel plant to be set up under a joint Venture (JV) between ArcelorMittal

ArcelorMittal-SAIL plant project report to be ready by August

A detailed project report (DPR) on the proposed Rs 5,000-crore steel plant to be set up under a joint Venture (JV) between ArcelorMittal and state-run SAIL will be completed by August.

Last month, the world's largest steel-maker and domestic steel giant inked a pact to jointly set up a steel plant in India to cater to the fast growing automotive sector.

"The work on DPR has started and it will be ready by August. SAIL as well as ArcelorMittal want the project to start as soon as possible," a source said.

Post DPR, the whole process -- which includes formalising JV structure, assessing options for plant locations, project costs, etc -- could take about two years, the source added.

Earlier this month in an investor presentation, NRI billionaire Lakshmi Mittal-led company said the proposed steel plant will come up at a major auto cluster in India.

India has four major auto clusters -- Pune-Chakan belt in Maharashtra, in the outskirts of Chennai in Tamil Nadu, Sanad in Gujarat and the Gurgaon-Neemrana belt spread across Haryana and Rajasthan.

22 August 2017News

Jindal Steel and Power Ltd (JSPL) recently said the Steel Melting Shop at its Raigarh facility produced a record 10,000 tonne of crude

JSPL's Raigad steel plant achieves key production milestone

Jindal Steel and Power Ltd (JSPL) recently said the Steel Melting Shop at its Raigarh facility produced a record 10,000 tonne of crude steel in a single day on June 13, 2015.

This highest production based on DRI (Direct Reduced Iron) and hot metal marked a key milestone in the company's steelmaking operations.

JSPL recently overhauled and upgraded the Raigarh steel facility which included modernisation of the two blast furnaces, Electric Arc Furnaces, plate mill and slab caster. Currently, Raigarh has a total steel capacity of 3.25 million tonne per annum (mtpa) and has the highest flexibility for raw materials.

Recently, the Raigrah steel plant produced 10,002 tonnes of crude steel in a single day through 100 heats in the SMS. The crude steel thus yielded is used to produce finished and semi-finished steel products. The Raigarh plant is the world's largest coal-based sponge iron manufacturing facility and produces up to 2.45 mtpa of finished steel

24 August 2017News

A forerunner in designing and manufacturing state-of-the-art and efficient waste management solutions

Meet Advance Hydrau-Tech Pvt.Ltd @ WOM 2017

A forerunner in designing and manufacturing state-of-the-art and efficient waste management solutions for scraps ranging from scrap metals (ferrous and non-ferrous) to plastics to paper scrap. Have installed over 8000 scrap processing machines in over 70 countries. The company has also successfully implemented many turnkey projects in various countries relating to metal melting and forming.

1 September 2017News

The world’s most trusted source for 3D measurement technology

Meet Faro Business Technologies @ WOM 2017

The world’s most trusted source for 3D measurement technology. FARO® develops and markets portable CMMs (coordinate measuring machines) and 3D imaging devices to solve dimensional metrology problems. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and compound structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, production planning, documenting large volume spaces or structures in 3D, and more.

4 September 2017News

State-owned iron ore miner NMDC said it has entered into a pact with Steel Ministry, Chhattisgarh Government and SAIL for setting

NMDC in pact to set up ultra mega steel plant in Chhattisgarh

State-owned iron ore miner NMDC said it has entered into a pact with Steel Ministry, Chhattisgarh Government and SAIL for setting up an ultra mega steel plant at Bastar.

"NMDC, a navratna PSE under the Ministry of Steel ... Has signed the following MoUs (Memorandum of Understandings)...(including) setting up ultra mega steel plant in Bastar region (Ministry of Steel, Government of Chhattisgarh, SAIL and NMDC)," NMDC said in a regulatory filing.

Another pact has also been signed between Chhattisgarh government, SAIL, NMDC and IRCON for development of railway line from Jagdalpur to Rowghat.

Yet another MoU is signed by Chhattisgarh government and NMDC for setting up of slurry pipeline and pellet plant.

The MoUs were signed in the presence of Prime Minister Narendra Modi, Chhattisgarh Chief Minister Raman Singh, Steel & Mines Minister Narendra Singh Tomar among others at Dantewada, Chhattisgarh on May 9, it added

9 January 2019News

The domestic steel consumption growth is expected to grow by 7 per cent during this fiscal

Domestic steel consumption to grow by 7 pc this fiscal, FY20

The domestic steel consumption growth is expected to grow by 7 per cent during this fiscal and the trend is likely to continue in the next financial year as well, largely driven by the government's focus on the infrastructure sector, says an ICRA report
Read more...

18 January 2019News

Steel maker Jindal Steel and Power LtdNSE -3.16 % (JSPL) Tuesday named Naushad Akhter Ansari as the Joint Managing Director

Jindal Steel and Power Ltd names Naushad Ansari as joint MD

Steel maker Jindal Steel and Power LtdNSE -3.16 % (JSPL) Tuesday named Naushad Akhter Ansari as the Joint Managing Director of the company with immediate effect. Earlier, Ansari was the CEO of company's steel business.

4 February 2019News

Company plans to ramp up its production to 25 million tonnes per annum by 2025, and increase the Kalainganagar plant capacity to 8 million tonnes .

Tata Steel eyes big increase in production capacity

Company plans to ramp up its production to 25 million tonnes per annum by 2025, and increase the Kalainganagar plant capacity to 8 million tonnes .
Read more...

18 February 2019News

India has replaced Japan as world's second largest steel producing country, while China is the largest producer of crude steel accounting for more than 51 per cent of production, according to World Steel Association (worldsteel).

India replaces Japan as second top steel producer: worldsteel

26 February 2019News

Calender year 2018 has been very good for the Indian steel industry. Demand went up by nearly 6% and the production went up nearly 7.5%, Ravi Uppal, Former MD & CEO, JSPL

Indian steel cos more competitive as they have access to cheaper iron ore: Ravi Uppal

Calender year 2018 has been very good for the Indian steel industry. Demand went up by nearly 6% and the production went up nearly 7.5%, Ravi Uppal, Former MD & CEO, JSPL

6 March 2019News

Premium Transmission, one of the leading players in industrial gearboxes, geared motors and fluid coupling market of India, is opening a new Development Centre in Kolkata.

Premium Transmission to open new Development Centre in Kolkata

Premium Transmission, one of the leading players in industrial gearboxes, geared motors and fluid coupling market of India, is opening a new Development Centre in Kolkata.

13 March 2019News

The steel sector has provided an impetus to the IBC with four large corporate debtors having already completed the corporate insolvency resolution process (CIRP) yielding a resolution plan.

Steel sector has turned out to be one of the major beneficiaries of IBC: ICRA Ltd

The steel sector has provided an impetus to the IBC with four large corporate debtors having already completed the corporate insolvency resolution process (CIRP) yielding a resolution plan.
Read More...!

15 March 2019News

Indian steel sector is progressing towards a quality control regime with India becoming the second top global producer.

Domestic steel sector progressing towards quality control regime

Indian steel sector is progressing towards a quality control regime with India becoming the second top global producer.

10 June 2019News

Steel continues to be the go to material for the construction industry and new age innovations are ensuring that buildings are getting both better and more safe

Steel continues to be the go to material for the construction industry and new age innovations are ensuring that buildings are getting both better and more safe
Read More...!

12 June 2019News

India’s steel consumption is expected to grow by 5%-6% this year

Steel consumption likely to grow by 5-6 per cent this year

India’s steel consumption is expected to grow by 5%-6% this year, on the back of government’s expenditure towards infrastructure and construction.
Read More..!

14 June 2019News

Courts and banks should expedite the resolution process of Essar Steel, which has been going on for more than 20 months,

Courts, banks must fast-track Essar resolution: Sajjan Jindal, Chairman, JSW Group

Courts and banks should expedite the resolution process of Essar Steel, which has been going on for more than 20 months, said Sajjan Jindal, chairman at JSW Group that failed in its bid to acquire the prized steelmaking assets through the bankruptcy court.
Read More...!

19 June 2019News

Alok Kumar Mehta assumed charge as Director (Commercial) of state owned NMDC Limited

Alok Kumar Mehta takes charge as Director (Commercial), NDMC

Alok Kumar Mehta assumed charge as Director (Commercial) of state owned NMDC Limited, on Saturday, June 1, 2019. Mehta, a graduate in mechanical engineering from NIT Raipur, with over 35 years of experience in iron ore mining, iron & steel and copper industries, started his career with Hindustan CopperNSE 0.72 % Limited in July 1983.

Steel ministry to set up a working group to monitor usage of steel across the country

Government to engage consultancy firm to draw action plan for steel sector revival

Indian steel manufacturers expect green shoots for industry after July

Steel ministry to set up a working group to monitor usage of steel across the country

Steel consumption up in sectors linked to rural economy: Tata Steel