Large steelmakers look for government support on path to green steel

Large Indian steelmakers are seeking some support from the local government as they look to produce green steel given that the higher costs of producing this steel is unlikely to be borne by end-users. Steelmaking is an energy intensive business, and accounts for among the highest carbon emissions globally. Production of green steel basically means […]

Steel sector PLI may include capital goods

The Indian government is considering widening the scope of the production-linked incentive (PLI) scheme for steel manufacturing to include more products under it. Capital goods companies that manufacture machinery for the steel industry could be one of the segments that can be included within the ambit of the PLI scheme for steel. It currently covers […]

CO2 utilization, a near-term survival potential for Indian steel

As befits, the Indian steel ministry has begun its work on Vision India@47 for creation of an environmentally responsible steel industry that promotes India’s economic growth and self-reliance. Being aspired by such an invigorating resolution, growing concerns about drawing down carbon dioxide levels in the atmosphere are intensifying interests in the Indian steel sector. Technologically, […]

Domestic steel companies’ profitability set to rise in March quarter

Profitability of domestic steelmakers is expected to improve sequentially in the March quarter, aided by higher prices and sales volumes that more than offset the impact of rising input costs. Prices of steel were on average around 3-5% higher during the quarter compared with the preceding quarter. While companies such as Tata Steel will see […]

China opening up economy to aid India steel firms

The reopening of China’s economy, which accounts for almost a fifth of the world’s GDP, would open up a plethora of opportunities for the Indian steel sector. With the recovery expected to be supported by consumption, Indian steel manufacturers would be able to replace China in providing the product to other nations. While China would […]

China’s steel mill owners are in a bad mood as demand takes a hit

Steel mill owners in parts of China are in a bad mood, since steel inventories are slowly piling up in the warehouses of the country’s biggest steelmaking hub, the north-eastern city of Tangshan, as well as in the provinces of Jiangsu and Shandong. Demand for steel is falling amid pandemic lockdowns and crippled construction activity. […]