According to a research report on steel industry by CARE Research, domestic steel capacity increased at a compounded annual growth rate (CAGR) of 8 per cent in 2004-05 to 2011-12. During the same period, steel production in the domestic market also recorded a similar increase on line with the domestic steel capacity, the report shows
Category: Materials
Post
Post
Reports suggest possible rise in steel prices
Agency reports quoted officials from some public sector steel firms as saying that domestic steel prices may recover going forward because of improving demand and rising global prices. While state-run Rashtriya Ispat Nigam (RINL) is among the few domestic firms that had effected price hikes, Steel Authority of India (SAIL) expects to raise price
Post
Analysts feel price cut by NMDC may not benefit steel firms
Analysts feel that the recent cut in iron ore price by NMDC may not benefit steelmakers in a big way because the former reduced the price of only iron ore lump. The prices for the majority of product mix (iron ore fines contributing to 75 per cent of total output) remains unchanged at Rs 2,610 a tonne. Therefore, the reduction in iron ore lump prices by NMDC may not bene
Post
Steel sector witnesses subdued growth in consumption
Data from the union steel ministry shows that consumption of finished steel in the country rose a mere 3.9 per cent to 54.8 million tonne (mn t) in Apr-Dec 2012 from 52.7 mn t in the year-ago period. Industry watchers attribute the muted growth in steel consumption to the subdued demand from the end-use
Post
IISCO Steel to commission five packages
IISCO Steel Plant (ISP) expects to commission at least five packages, which are part of its ongoing Rs 16,000-crore modernisation and expansion project, between January and March 2013. Instead of waiting for the completion of the entire project, the firm plans to commission all the packages which are ready. It is learnt that the above five pack
Post
SC panel assesses quantity of ore in dumps
The Supreme Court-appointed monitoring committee is estimating the quantity of iron ore available at the dumps in the three mineral-rich districts of Bellary, Chitradurga and Tumkur in Karnataka. After assessing the quantity of ore available at these dumps, the committee plans to sell it via e-auction so that steel firms, who face shortage of iron ore, can bene
Post
Nalco mulls 1 mn t refinery in Gujarat
Aluminium major Nalco plans to set up a 1 million tonne per annum capacity alumina refinery in Gujarat at an investment of Rs 4,500 crore. The company is in the process of preparing a Detailed Project Report (DPR) for this purpose.
Post
Bhushan Steel about to complete expansion project
Bhushan Steel is reportedly nearing completion of its 3 million tonne (mn t) capacity expansion project at its Odisha plant and the firm expects to begin hot metal production from the new blast furnace by March. Presently, the firm has a production capacity of 2.5 mn tpa (million tonne per annum) and it produces secondary steel products like cold-rolled coils, galvanised coils
Post
JSW Steel announced 8% rise in output
In October-December 2012, production of crude steel at JSW Steel expanded only 8 per cent to 20.94 lakh tonne because of impediments like shortages of iron ore. In Oct-Dec 2011, the company produced 19.39 lakh tonne (l t) crude steel. But production declined nearly 3.60 per cent from the preceding quarter, when it had produced 21.72 lakh tonne (l t) crude steel
Post
Uttam Galvas Steels sees recovery in export
Uttam Galva Steels has reportedly witnessed recovery in the sale of its products in the European and US markets. The company, which is an associate of ArcelorMittal, realised 40 per cent of its Rs 5,475 crore total turnover from exports in the last financial year. ArcelorMittal holds 34.42 per cent stake in the firm.The firm