Vizag Steel Plant employees’ plea to Gangavaram port workers to allow raw material transportation
Visakhapatnam: As many as 1,000 employees of Vizag Steel Plant here on Wednesday marched to the nearby Adani Gangavaram Port Ltd to plead with its agitating employees to allow raw material shipments.

Jindal eyes defence sector for specialised steel offering
New Delhi: The Jindal Group is exploring the defence material market with its offering of specialised steel for shipbuilding and missiles manufacturing. Jindal Steel & Power (JSP) on Thursday inked an MoU with the Indian Coast Guard (ICG) for enhancing indigenous content in shipbuilding, including supply of indigenous marine-grade steel, which is vital for the nation’s maritime security, the Ministry of Defence said.

Ashirwad Steels & Industries Q4 Results Live : profit rise by 64.75% YOY
Ashirwad Steels & Industries Q4 Results Live : Ashirwad Steels & Industries declared their Q4 results on 07 May, 2024. The topline decreased by 50.37% & the profit increased by 64.75% YoY.

Tata Steel becomes first Indian steel company to complete fully loaded voyage from Australia to India on B24 biofuel

Steel demand to grow at 10% or more: Steel Secretary NN Sinha

According to him, India’s annual production capacity is currently at 170 million tonne, with demand momentum expected to sustain.  “The demand has grown by around 14 per cent y-o-y in FY24. It will continue to grow by 10 per cent in the future,” he said while speaking at a conclave on manufacturing organised by the CII. 

JSW Steel to take up fundraising on May 17

India considering proposal mandating luxury and high-end car makers to use ‘green steel’

Jindal Stainless fuels Indian Navy’s capabilities with SMART system
Jindal Stainless Ltd reported that it supplied 3 mm special alloy steel sheets for the Supersonic Missile-Assisted Release of Torpedo (SMART) system, to enhance the Navy’s anti-submarine warfare capabilities. The sheets are developed by Jindal Stainless’ vertical, Jindal Defence and Aerospace. 

Flood of cheap Chinese steel into India at an eight-year-high
New Delhi: China’s property market bust has saddled its steelmakers with a glut that they are offloading globally, including India. In FY24, China — banking on the lower priced metal offerings — emerged as the largest seller to Indian traders. Nearly 2.7 million tonnes (mt) of the finsished produce came in, the highest in eight years.

India’s steel imports from China surge 58 per cent in the January-March quarter
 

Indian steel exports to Europe hit a five-year high in FY24 but cedes space in UAE, Vietnam to Chinese mills
New Delhi: India’s steel exports to Europe hit a five-year high in FY24 with outbound shipments hovering at 3.3 million tonnes (mt), up 65 per cent y-o-y and near doubling over a five-year (from FY20). However, the cheer is short-lived. The country has ceded space in the UAE – where exports hit a five-year-low – and also in South East Asia, as per reports of the Steel Ministry, accessed by businessline.

Jindal Stainless announces expansion plans worth INR 5,400 cr, including a Indonesian JV and an acquisition
Listed stainless steel manufacturing company Jindal Stainless on Wednesday announced a 'three-pronged' investment strategy worth nearly INR 5,400 crore for its melting and downstream capacities.

NMDC output slid, sales rose in April

Jindal Stainless announces expansion plans worth Rs 5,400 cr, including a Indonesian JV and an acquisition
Jindal Stainless charts ₹5,400-crore expansion plans in India and overseas 
The Hindu Business Line

Steel-makers shouldn’t be deprived of scrap
Economic growth and the government’s focus on infrastructure development are likely to spur steel demand in the country by over 10 per cent. This rapid growth must address environmental sustainability concerns, specifically the issue of carbon emissions. The use of ferrous scrap in steel production can reduce greenhouse gas emissions by up to 58 per cent. If renewable energy is used, emissions could drop by as much as 80 per cent, offering a promising path towards sustainability.

CCI approves Sanyo Special Steel’s stake purchase in SSMI

Tata Steel CEO raises concerns on rising steel imports, says need to be watchful
India’s steel imports have increased by 38% to 8.319 million tonnes, making the country a net importer of the commodity for FY24.Tata Steel CEO T V Narendran has raised concerns about it and stated that there is a need to be cautious about the scenario, as reported by PTI.

Need to be watchful about steel imports: Tata Steel CEO Narendran

New Delhi: As steel imports continue to surge, Tata Steel CEO T V Narendran has said there is a need to be watchful about the situation.

Sai Swami Metals & Alloys SME IPO to open on April 30

India, others criticise EU, UK for considering extended protection for steel
New Delhi: India and some others, including Japan, Brazil and Russia, have criticised the EU and the UK for considering an extension of the existing safeguard measures on some steel product imports beyond the current termination date of June 30 2024.

Sandur Manganese to foray into speciality steel with buyout of Arjas Steel

Tata Steel to proceed with its £1.25 bn investment to build Furnace in Port Talbot; closure of two Blast Furnaces by end of June, Sept
Tata Steel to invest £1.25 billion in modern electric arc furnace in Port Talbot
The Hindu Business Line

Global steel production drops 4.3% in March
Global crude steel output declined by 4.3 per cent in March 2024 to 161.2 million tonnes (mt) compared with 168.4 mt in the corresponding period a year ago. According to the World Steel Association, top producer China’s output plunged to 88.3 mt in March, down by 7.8 per cent from the year-ago period. India reported a 7.8 per cent rise in production at 12.7 mt. 

NTPC inks pact with RINL for supply of limestone

We should not assume India will be the best place to come in for foreign investors as there are other options: TV Narendran, Tata Steel

8-10% growth in steel demand in India likely in FY25: TV Narendran
Global steel prices, including in India, will continue to be determined by China’s production (including cuts) and exports. While steel demand in India is expected to grow by at least 8-10 per cent for FY25, a few notches higher than the GDP, TV Narendran, Managing Director, Tata Steel told businessline. According to him, India turning net importer of steel, looks to be a temporary phenomenon, and “it would be a pity” if this continues in the long-run. However, Indian consumption story continues to be strong. Consumption is primarily infrastructure-led.

Arcelormittal Nippon Steel India in talks for USD 1 bn loan

Bengal steel production up 12 per cent

JSW Steel raises $900-million loan from eight foreign banks

Jindal Stainless cuts 2.4 lakh tons of CO2 emissions in last two fiscals