According to businessmen, rates of steel products have registered a slight drop, but the micro, small and medium enterprises (MSME), who are biggest consumers of these products, are anticipating a further fall and purchasing only in limited quantities.
"Demand seasonally is weak generally in July and September quarter, but from June onwards relative to April and May we are seeing definite signs of improvement."
The project will help in the production of low-carbon emission steel through CO2 capture of up to 2 mtpa from the available blast furnace gases to meet the demand of energy in a steel plant.
According to two separate notifications by the Department of Revenue, the duties on 'Hot-Rolled flat products of alloy or non-alloy steel' originating in or exported from China, Japan, Korea, Russia, and Brazil, and on 'Cold-Rolled flat products of alloy or non-alloy steel' coming from China, Japan, and Korea, have been extended.
At a time when banks are seeing most of their loans wiped out, like those to Videocon Group or Jet Airways, the traditional business of steel manufacturing is turning out to be relatively safer for lenders. Three of the biggest NPA recoveries has been in the steel sector — Essar Steel, Bhushan Steel and Bhushan Power & Steel.
It claimed that steel and other base material manufacturers are declaring 10-20 times higher profit whereas all the MSMEs are on the verge of extinction.
The Swedish carmaker, owned by China's Geely Holding, will be the first car maker to source steel from green steel venture HYBRIT, which is owned by SSAB, Swedish state-owned utility Vattenfall and Swedish miner LKAB.
Domestic prices of steel are lower by 15-20 per cent than landed imported steel.
Through this partnership, EESL and MECON aim to jointly address solutions such as retrofitting LED lights, deployment of energy efficient motors (IE3 type) in place of conventional motors and EV transportation with necessary charging infrastructure in the steel Industry.
The production of long-rolled products was at 3.09 LT, up 55 per cent from 2 LT in the year-ago month.
Fitch said Chinese domestic demand for steel will slow overall in 2022 and beyond as balancing of the economy away from heavy industry and towards service sector resumes, which will drag down domestic steel prices in China and the global average.
Production of petroleum products by Oil's Refineries during April, 2021 was 20525.69 TMT (thousand million tonne) which is 0.97 per cent higher than the target for the month and 31.04 per cent higher than the production during April, 2020.
Kassia president KB Arasappa also requested the Finance Minister to take steps to see refunds were released on priority. Karnataka has been under a lockdown until May 24, and manufacturing activities, except those in the essential sectors, have been at a standstill. The lockdown has choked production in industries and caused cash crunch, he said.
The rally threatens to raise the cost of goods from the lunchtime sandwich to gleaming skyscrapers. It’s also lit the fuse on the massive reflation trade that’s gripped markets this year and pushed up inflation expectations.
The rally threatens to raise the cost of goods from the lunchtime sandwich to gleaming skyscrapers. It’s also lit the fuse on the massive reflation trade that’s gripped markets this year and pushed up inflation expectations.
At present, total oxygen production in India is around 7,000 to 7,200 MT per day. Out of this, these two sectors contribute 4,000 to 4,500 MT of oxygen and supply it to several states and individual hospitals.
Inaugurating the Vedanta Saathi programme, Gadkari said international technology can be accepted to reduce the demand for steel and cement and "now we are taking a lot of initiative for that".
As per data from the ministry, finished steel exports in 2020-21 was around 10.79 million tonnes, showing a growth of 29% year-on-year and export of semis in the 11 month period till February 2021 grew by 131% to 6.09 million tonnes.
While industries are struggling to recover from the loss they suffered during the lockdown last year, abnormal increases in the prices of raw materials including steel, brass, aluminium, cast iron and copper have been affecting more than 40,000 industries that are functioning in Coimbatore and neighbouring Tirupur.
Volvo plans to start production this year of prototype vehicles and components from steel made by SSAB using hydrogen produced from renewable energy. Small-scale serial production will start in 2022.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Dhiraj Kumar Sharma | Unlock to View | Unlock to View | Director | 10 Sep,2010 |
| Parmanand Sharma | Unlock to View | Unlock to View | Director | 10 Sep,2010 |
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