News

Tata Steel has announced a programme of improvements to its blast furnaces that will reduce the site’s carbon footprint by about 160kt of CO2 per year. That’s equivalent, says the company, to the annual emissions from nearly 100,000 cars* or those from the energy used by around 50,000 households.

The United States and the European Union are considering new tariffs on Chinese steel and aluminium as part of a bid to fight carbon emissions, according to a report by Bloomberg News.

South Korean steelmaker POSCO Group is planning to invest a total of $40 billion in Australia, with $28 billion being used for hydrogen manufacturing, and $12 billion going toward green steel production- in order to manufacture 1Mt of hydrogen by 2040.

Easing covid-19 restrictions in China may lead to an increase in demand and prices of metals, but the uptick maybe limited, said industry experts.

Finished steel production dropped by 5 per cent November to 9.5 mt versus October where it was 9.9 mt. Variation in stock went up month-on-month to 1,49,000 tonnes, up 40 per cent, a report by the Steel Ministry

Government infrastructure will fuel domestic steel consumption for two years, says Jai Saraf:CEO

The proposal to scrap levies ranging from 2.5% to 7.5% in the world's second biggest producer of crude steel comes ahead of the national budget for 2023/24 set to be unveiled in February. The ministry's plan to scrap the tax on limestone, manganese ore, steel scrap, graphite electrodes, chrome ore, and ferro nickel, in addition to coking coal, has been sent to the finance ministry, said the sources, who spoke on condition of anonymity.

Tata Steel, JSW Steel and Adani Group have shown "strong interest" in the entity during the pre-bid consultations held in early December, said people familiar with the development.

Finished steel exports slumped 55% to 4.3 million tonnes during April to November period due to a slowdown in global demand and the decision by India to impose an export tax on some steel products. Last month, the government scrapped the export tax but steel makers and industry officials said it would be a challenge for mills to regain their traditional markets, including Europe.