China's surging steel exports have sparked complaints from a growing number of countries, with some, such as Turkey and Indonesia Signs of thawing ties a day after the leaders of India and China met are unlikely to deter New Delhi's plans to back tariffs on steel as they are not country-specific measures, a senior government [...]
UNION Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa, said that India is currently the second-largest producer of steel, with a production of 144 million metric tonnes. While addressing a three-day international conference on green steel production in New Delhi, the Minister lauded the technological innovation and material efficiency in the steel sector, [...]
Centre Reviews Steel Policy As Carbon Tariffs Threaten India’s Dream To Become A Global Steel Power The Ministry of Steel has initiated a review of the seven-year-old National Steel Policy (NSP) to develop a comprehensive decarbonisation strategy. This move comes in response to the European Union's (EU) introduction of the Carbon Border Adjustment Mechanism (CBAM), [...]
Indian metal companies to benefit from Russia’s supply disruption due to war with Ukraine Metal stocks were top gainers in a weak market as the price of most metals went up on fears of supply constraint from Russia, one of the large producers of metals. Russia and Europe account for nearly 10% of global primary [...]
Union Budget 2022: Steel industry seeks duty reduction, demand rationalization Indian Steel Association (ISA) has submitted its memorandum to the government, seeking removal of 'lesser duty rule' and lower duties on input raw materials. Indian Steel industry, which plays an important role in the overall infrastructure development of the country, wants the government to review [...]
Metal Container Manufacturer Association (MCMA), the umbrella body representing the interest of companies involved in the production of metal containers, packaging and allied components has welcomed Ram Chandra Prasad Singh taking over as Union Minister for steel and is hoping that urgency will be shown to the pandemic-hit and cash-starved metal packaging sector. A delegation [...]
The initiative aimed at attaining self-reliance in container production eyes Rs 1,000 crore investment from private players and looks to create one lakh jobs. India to manufacture containers in Bhavnagar: Eyeing indigenous production of containers amid a global surge in demand, the Centre is looking to develop Bhavnagar in Gujarat as a container hub and [...]
Lack of investment in Infra has been the major constraint resulting in a sluggish growth in steel consumption in the last few years. India is ending FY21 with a total steel consumption of around 95-97 million tonnes of steel which is nearly 5 percent lower than the previous year. In FY22 the budget has announced [...]
Steel prices are expected to remain high in 2021, fuelled by higher demand, which will affect core inflation and also keep WPI inflation at elevated levels. Strong domestic demand, along with healthy exports, aided the steel industry's production and sales growth in the fourth quarter of 2020-21 on a sequential basis, said analysts. Revenues of [...]
The construction sector, which includes both infrastructure and real estate, contributes about 62 per cent of the total steel demand. New Delhi: After a brief lull in 2020 pushed by the pandemic and the lockdown that affected all industries, the Indian steel industry is expected to bounce back to a robust growth phase in 2021. [...]
