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voda 5 april 2023 10:12

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AFV Beltrame Showcases Chalybria at Home Ground

AFV Beltrame Group recently hosted an event called "Steel: the new frontiers of sustainability" across several countries, including Italy. The Italian workshop took place at the Chervò Golf Hotel & Resort in Pozzolengo in Brescia in Italy, where the company presented its investment plan for Decarbonisation by 2030 and introduced Chalibria, its carbon neutral certified steel. The workshop provided an opportunity for customers and stakeholders to learn more about Chalibria and the company's plans for Decarbonisation.

AFV Beltrame Group is confident that Chalibria will successfully implement their Decarbonisation plan and contribute to the necessary transformation of the steel sector, achieving the goal of reduced carbon footprint production within the timeframe dictated by European regulations. Mr. Carlo Beltrame, CEO France & Romania, Head of Group Business Development, stated, "We are convinced that #Chalibria will successfully implement our Decarbonisation plan and contribute to the necessary transformation of the steel sector as a whole, achieving the goal of reduced carbon footprint production within the timeframe dictated by European regulations."

The company plans to reduce its emissions by 40% by 2030 (compared to 2015) through a five-year investment of approximately €200 million to support the structured #Decarbonisation plan. Raffaele Ruella, CFO and Managing Director, concluded the event by stating, "Despite the fact that the emissions generated during the Group's activities are below international and European sector averages, the company intends to further improve its performance and will do so through a five-year investment of around €200 million that will support precisely the structured #Decarbonisation plan that we have approved."

voda 5 april 2023 10:12

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Us Steel Renews Exim Supply Chain Finance Guarantee Program

The Export-Import Bank of the United States (EXIM) has unanimously approved a second renewal of a 90-percent guarantee of a $200 million purchase facility for US companies in the supply chain of United States Steel. This renewal comes under the EXIM Supply Chain Finance Guarantee program.

The transaction is expected to support up to $800 million in export sales of steel and iron ore, and approximately 700 jobs in states across the US, including Pennsylvania, Kentucky, West Virginia, New Jersey, Illinois, Alabama, Missouri, Indiana, and Texas.

The platform provider and originator of US Steel's supply chain finance program is LSQ, while funding for supplier early payments is provided by Huntington National Bank.

Since its inception in late 2020, the partnership between LSQ, Huntington, and EXIM has resulted in more than $1.5 billion in early payments being extended to US Steel scrap and coal suppliers.

voda 5 april 2023 10:12

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BICO Steel Acquires Re Metal Finishing To Expand Capabilities

BICO Steel, a portfolio company of Validor Capital, has acquired RE Metal Finishing to expand its steel processing and fabrication capabilities. The acquired company has been re-named BICO Metal Finishing and is located in Kent, Ohio. It offers metal finishing services and steel peening to various industrial clients. Meanwhile, BICO Steel specializes in processing heavy carbon steel plate and forged specialty alloy steel, serving customers in the aerospace, automotive, canning, paper conversion, consumer goods, building products, and oil and gas industries. The company operates across locations in Akron, Kent, Grand Rapids, and Breckenridge.

The terms of the transaction were not disclosed. Validor Capital is a private investment firm that provides liquidity to family and founder-owned industrial, manufacturing, and service businesses in the lower middle market. The firm seeks opportunities where it can partner with management teams to leverage their combined expertise and industry relationships to create significant value.

Founded in 1896, BICO Steel has been in operation for over 125 years, providing quality-critical and high-performance steel products. With the acquisition of RE Metal Finishing, BICO Steel can further enhance its capabilities and strengthen its presence in the industrial steel processing and fabrication sector.

voda 5 april 2023 10:12

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Clairton Coke Named Top Polluter in Allegheny County

Environmental advocacy group PennEnvironment has released a list of the top 10 polluters in Allegheny County, Pennsylvania. The list is based on data from the Environmental Protection Agency (EPA) and includes industrial facilities responsible for emitting large amounts of toxic chemicals into the air and water.

Topping the list is US Steel's Clairton Coke Works, which is responsible for more than 670,000 pounds of toxic chemical emissions each year. In second place is the Cheswick Generating Station, owned by GenOn Energy, which emits over 400,000 pounds of toxic chemicals annually.

Other facilities on the list include the Shenango Coke Works, the Pittsburgh Glass Works plant in East Deer, and the McConway & Torley foundry in Lawrenceville.

PennEnvironment's report highlights the impact of these emissions on the health of local residents, particularly in communities of color and low-income neighborhoods. Exposure to toxic chemicals can lead to respiratory problems, cancer, and other serious health issues. "The people who live in the shadow of these polluting facilities have to deal with the consequences of the toxic pollution they emit every day," said Mr. Zachary Barber, PennEnvironment's Western Pennsylvania Field Organizer. "It’s time for our leaders to take action to protect the health of all Allegheny County residents."

PennEnvironment is calling for stronger environmental regulations and increased enforcement to reduce toxic emissions from these facilities. The group is also advocating for more investment in renewable energy and a transition away from fossil fuels.

voda 5 april 2023 10:13

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Mr. Rajeev Singhal Appointed as COO of Tata International

Tata International, the trading and distribution arm of Tata Group, has announced the appointment of Mr. Rajeev Singhal as its Chief Operating Officer on April 1, 2023. Mr. Singhal will report to Tata International Managing Director Mr. Anand Sen. All vertical heads will now report to Mr. Singhal, who brings with him over 35 years of experience, having moved from Tata Steel to Tata International.

Mr. Singhal previously held the position of Vice President of Marketing and Sales for Flat Products at Tata Steel before taking up his latest role at Tata International.

Tata International is a global trading and distribution company, engaged in the distribution of steel, agricultural commodities, leather products and minerals, among others. The company operates in Africa, Europe, the Middle East and Asia, and has a workforce of over 5,000 employees.

voda 5 april 2023 10:13

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CTC Earns Patents for Metal Injection Molded Cartridge Cases

Johnstown, PA-based Concurrent Technologies Corporation has been granted two patents for its invention of a single-piece, high-strength metallic cartridge case that is stronger, stiffer, and lighter than traditional brass. The new shell case design is a joint development between CTC and the US Army aimed at enhancing warfighter effectiveness through increased lethality, improved accuracy, and reduced ammunition weight.

Metal injection molded cartridge benefits include a 30% case weight reduction vs. brass, high-pressure capability up to 100 ksi tested, increased muzzle velocity up to 10% over brass, increased accuracy, durable stainless steel case material with reliable functionality from -65°F to 160°F, rugged, single-piece design with no corrosion issues, and compatibility with existing brass case taper, trim, load, assemble, and pack manufacturing infrastructure.

CTC’s newly awarded patents 11465207 and 11493314 protect the US government’s ability to organically produce and supply the technology to the warfighter, while allowing cost reduction and maturation through private commercialization. The patented technology has the potential to reduce manufacturing costs at a time when global commodity prices for copper and brass are at all-time highs, says Edward J. Sheehan, Jr., CTC President and CEO. CTC’s team has analyzed requirements, developed a solution, and ensured it is cost-effective and scalable, he added.

The shell casing design inventors are Todd Skowron, Juan Valencia, Shawn Rhodes, and William Brueggen. CTC, an independent, nonprofit, applied scientific research and development professional services organization, collaborates with its technology transition affiliate, Enterprise Ventures Corporation, to provide transformative, full lifecycle solutions through research, development, test, and evaluation work. To best serve its clients’ needs, CTC offers the complete ability to fully design, develop, test, prototype, and build.

voda 5 april 2023 10:13

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Kardemir Announces $1 Billion Investment Plan for 2023-2028

Kardemir Karabuk Demir Celik, a long steel producer based in Turkey, has announced its plans to invest up to $1 billion between 2023 and 2028 to increase its high-value added product capacity and exports. This was revealed by Mr. Alparslan Bayraktar, the chairman of Kardemir, during the 28th ordinary general assembly meeting held on April 3. The company has also shared its 2022 evaluations, reporting that it broke its annual production record at blast furnace No. 5, despite the shutdown of blast furnaces No. 1 and No. 4 for maintenance works.

In 2022, Kardemir produced 2.22 million metric tons of crude steel and 2.14 million metric tons of finished products. Its beam, thick bar in coil, and railway wheel sales increased by 9%, 41%, and 456%, respectively, year on year. The company recorded a $45.5 million export income from the sales made to the EU, the Balkans, North Africa, Central Asia, and the Middle East. It also added 136 high value-added products, including high-strength bars in coils, engineering steels, and specialty bars in coil, to its portfolio in 2022.

Despite unfavorable conditions in the second half of 2022 due to the impact of the war between Russia and Ukraine on demand and energy costs, Kardemir's sales revenues increased by 86% year on year to $1.42 billion. Mr. Bayraktar noted that the company achieved positive results in terms of both profitability and cash flow, thanks to the increasing demand in the first half of the year.

Kardemir is a publicly traded company, so it is owned by its shareholders. In September 2021, the largest shareholder of Kardemir was the Republic of Turkey's Privatization Administration, with a 49.13% stake. Other major shareholders included the Turkish Armed Forces Foundation and Oyak Mining Metallurgy Group. However, the exact ownership structure may have changed since then.

voda 5 april 2023 10:14

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ArcelorMittal SA Appoints Mr. Siphamandla Mthethwa as CFO

ArcelorMittal South Africa, the largest steel producer on the African continent, has appointed Mr. Siphamandla Mthethwa as its Chief Financial Officer (and Executive Director. The announcement was made following an extensive recruitment process, and the appointment will be effective from 1 July 2023, or sooner if circumstances permit.

Mr. Mthethwa is a qualified Chartered Accountant, with more than 20 years of financial experience, which includes significant experience as a financial executive with broad strategic and financial leadership responsibilities. He has completed the Advanced Management Programme at the Harvard Business School and the CFO Executive Programme at Stanford University Graduate School of Business.

Currently, Mr. Mthethwa serves as the CFO and Executive Director at the Airports Company South Africa SOC). During his career, he has fulfilled senior management and executive leadership roles, making him a perfect fit for his new role at ArcelorMittal South Africa.

Ms. Suretha van Wyk, who had been serving as Interim CFO, will continue in that role until Mr. Mthethwa assumes his position.

Bijlage:

voda 5 april 2023 10:15

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Union Steel Awards FAC to Pomini for ERT-Ebros Billet Welding System

POMINI Long Rolling Mills has received the Final Acceptance Certificate of the ERT-ERBOS billet welding system from Union Iron & Steel Company. The welding system had originally been awarded to Primetals Technologies Italy and has now been installed at the Mussafah plant in Abu Dhabi, United Arab Emirates. The system is designed for a yearly production capacity of 450,000 metric tons and welds consecutive billets together in an endless process with high and consistent product quality.

The system uses a flash welding process with fast and intensive heating and does not require additional filler metal, resulting in optimal joining of the billets. A Dynamic Flash Control system is used to control all process parameters in real-time, ensuring high quality of the joint, reduced energy consumption, and material loss. The deburring station operates independently of the welding unit, ensuring that cycle times are not increased. A system protection system is in place to protect mechanical and electrical equipment from welding spatters and extend the components' lifetime.

The ERT-ERBOS system has been installed between the reheating furnace and the first rolling stand and is supplied with engineering of the complete project, the welding machine, the deburring station, the fluid systems, the electrical equipment, and technology packages for the control of welding. Assistance services for installation and commissioning were also supplied.

Union Iron & Steel is a private manufacturer of steel bars for concrete reinforcement, and the company aims to meet the region's demand for quality steel bars while reducing related import volumes. The company is dedicated to delivering high-quality products and technologies that conform to international quality standards and can supply them as per the market requirements.

voda 5 april 2023 10:15

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Wuppermann Installs Bundling & Infeed Lines to Increase Output &Safety

Wuppermann, a leading manufacturer of steel products, has recently made an investment of €770,000 in a new bundling line at its Polish tube production site, resulting in increased efficiency since the beginning of 2023. The new plant has been equipped with automatic packing, enabling production speed to increase by 5 to 10%, depending on size and cross-section. With the new bundling line, the plant can now be operated with only one employee, eliminating the need for two employees who previously manually packed the tubes. This has freed up personnel resources, which are now being used in the area of prefabrication.

The previous manual process of packing tubes was physically strenuous and posed a significant risk of accidents, making the new automatic packing system an essential addition to the plant. With the elimination of the manual process, the personnel can now focus on more crucial tasks, thus increasing the overall efficiency of the plant.

At the beginning of February 2023, Wuppermann installed a new intake at tube line 1, an investment of €790,000, replacing the outdated safety system and frequent malfunctions. The unwinder, the longitudinal seam welding system, and the coil accumulator were replaced with systems that meet the current state-of-the-art technology and, more importantly, the occupational safety requirements.

Moreover, the coil accumulator was equipped with a soundproof cabin from the very beginning to reduce the production noise and dust generation caused by the scale. With the new automated system, there is no need to manually pull the strip from the accumulator to the welding machine, and the need for manually grinding the welds has been eliminated.

The new system not only increases the efficiency of the plant but also ensures the safety of employees by reducing the risks of accidents. The investments made by Wuppermann at the Polish tube production site are a testament to the company's commitment to providing high-quality products that meet international standards.

voda 5 april 2023 10:16

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New Forklifts Improve Operations at British Steel's Teesside Facility

British Steel has recently taken delivery of a pair of forklift trucks specifically designed to handle its large constructional steel sections at the Teesside site. Advanced Material Handling Ltd has supplied the Konecranes SMV33-1200 trucks, which can manoeuvre sections weighing up to 33 metric tons. The new forklift trucks were built to British Steel specifications and have reinforced tines, masts, and carriages, as well as 2.8-metre-long tines - 80 centimetres longer than standard. The trucks will replace four older machines and will allow British Steel to move the heavy sections around the site with greater ease and efficiency.

Mr. Lee Robson, Operations Manager at British Steel, said that the new trucks were fantastic machines and would be a great asset to the business. He explained that the company needed longer and stronger tines, masts, and carriages on the forklift to handle their internal pallet trailers, which are wider than the standard external heavy haulage flatbed trailers. The reinforced forklifts, with 37-metric tons masts and extra supporting rollers and bearings, can lift the large sections and move them around the site without difficulty.

The new trucks come with heavy-duty air filters with exhaust extraction, heavy-duty high-level ad-blue filters, and a hydraulic breather specifically adapted for British Steel's site conditions to reduce emissions. Mr. Steve Ward, Director at Advanced Material Handling, said that securing the long-term contract with British Steel was fantastic for his company and the Konecranes brand. He added that British Steel's belief in the brand and their company was demonstrated by the proven reliability and power of the customer's machines already on the site, and he looked forward to continuing the successful partnership.

voda 5 april 2023 10:16

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Algoma Steel's FY 2023 Q4 Guidance Remains Unchanged

Algoma Steel, a leading Canadian producer of hot and cold rolled steel sheet and plate products, has announced its guidance for the fiscal fourth quarter ending on March 31, 2023. The company expects total steel shipments to be between 555,000 to 565,000 short tons, while adjusted EBITDA is projected to be between C$25 million to C$30 million.

Algoma's CEO, Mr. Michael Garcia, noted that the company's shipments for the fourth fiscal quarter are expected to align with earlier projections, with increased productivity leading to lower costs.

The CEO also expressed optimism about the future, as steel prices are currently at a nine-month high and market conditions appear favorable. The company is also progressing well with its strategic electric arc furnace project, with the building now erected and construction continuing on schedule and within budget.

voda 5 april 2023 10:16

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BSCA Opens Quality Scheme to All Steelwork Firms in UK

The British Constructional Steelwork Association (BCSA) is offering non-members the opportunity to sign up to its quality scheme for the first time. The Register of Qualified Steelwork Contractors (Building) has only been open to BCSA steelwork contractor members until now. This move comes as a response to the new building safety regime that is being introduced following the Grenfell disaster. The Building Safety Act 2022 is introducing the most significant changes to building safety regulation in a generation, which will force all supply chain links to evaluate their own practices and those of their suppliers.

The CEO of BCSA, Dr. David Moore, said that the steel construction sector is playing a crucial role in making buildings safer. The sector has played a full part in discussions on what a post-Grenfell tragedy building safety regime should look like. The new competence requirements for contractors will put a fresh onus on clients to ask all suppliers to prove their competency and capability. Compliance with the new scheme - the Register of Qualified Steelwork Contractors (Building) - will prove to clients that a steelwork contractor can meet or even exceed the competence requirements demanded by the new legislation.

The new scheme includes specific requirements for steelwork contractors, such as the details of their fabrication facility, the skill, knowledge, and experience of their staff, and CE/UKCA marking. BCSA has revised the 7th edition of the National Structural Steelwork Specification for Building Construction, which introduces the new assessment scheme and a new section on Protective Treatments (corrosion and fire).

Initially, it was thought that the Building Safety Act only applied to high-rise, high-risk buildings, but its scope is much wider. Building Regulations, clients, and insurance companies are looking for the supply chain to demonstrate its competence and capability for all buildings. The new scheme will ensure that clients can trust steelwork contractors to meet the necessary standards to ensure the safety of all building occupants.

voda 5 april 2023 10:17

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Tenaris Completes Assembly of First Turbine at New Wind Farm in Argentina

Tenaris, a global leader in steel pipe manufacturing, has completed the assembly of the first wind turbine at its new Buena Ventura wind farm in the Gonzales Chaves district of Buenos Aires, Argentina. The company plans to build a total of 24 wind turbines, each with a capacity of 4.2MW, at the site, with a total installed capacity of 100.8MW. Once operational, the facility is expected to provide close to 50% of the electrical energy needed by Tenaris's plant in Campana, Buenos Aires, resulting in a reduction of 152,000 metric tons of CO2 emissions per year.

According to Mr. Javier Martínez Álvarez, Tenaris president for the Southern Cone, the completion of the first wind turbine is a milestone for the company and its commitment to the energy transition and decarbonization plan. The wind farm project will also help to reduce Tenaris's CO2 emissions intensity per ton of steel by 30% compared to 2018 levels by 2030, as part of the company's broader sustainability goals.

The remaining 23 wind turbines are expected to be built at a rate of one per week. Tenaris is also continuing to work on the medium voltage network that will take energy from the turbines to the electrical substation and link the wind farm with the national interconnected system. The project is estimated to cost around $200 million and is expected to be fully operational in the second half of 2023.

voda 5 april 2023 10:18

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Fraunhofer IWS Develops Laser-Joining Technology for Low Mass Structures

Researchers at the Fraunhofer Institute for Material and Beam Technology (IWS) have developed a new technology that uses lasers to weld hollow chamber structures and cover sheets into lightweight sandwich panels, which could revolutionize the construction industry. These sandwich panels have already been used in the automotive and aerospace industries, but the Fraunhofer researchers have found a way to apply these same principles to other industries, such as shipbuilding, railway construction, and factory building.

The new laser-based “sandwich plating” method allows for faster and more cost-effective production of lightweight panels and profiles compared to conventional methods, according to Andrea Berger, a researcher at the IWS. The technology also eliminates the need for adhesives and other additional materials, which makes the lightweight structures easier to recycle.

Many lightweight builders use sandwich plates instead of centimeter-thick heavy steel plates, as they are strong enough for partition walls and ceilings in vehicles, aircraft, or halls, while significantly reducing weight. However, until now, manufacturers have been limited to using relatively thick internal webs due to the limitations of extrusion processes.

The IWS researchers solved this problem by developing a laser welding rolling mill that can guide a flexible core layer of lightweight internal structures between two rollers, over which a cover sheet rolls at both top and bottom. Scanner-controlled lasers are directed obliquely from both sides precisely into the thin gap between the core layer and the cover sheet. They then heat the metal surfaces with pinpoint accuracy, generating local temperatures of between 660 and 1400 degree C depending on the sheet material selected.

Compared with conventional methods, such as extrusion at high temperatures, laser welding saves a significant amount of energy and is suitable for low-cost mass production. Developed to industrial scale, these laser-based systems could produce more than ten meters of lightweight sheet per minute. Moreover, such machines can be quickly converted to new profile or sheet structures, making them highly flexible for different applications.

The laser-based sandwich cladding technology has the potential to significantly reduce material use and carbon emissions in the construction industry while offering a more cost-effective and efficient production method. The new technology also offers a way to produce lightweight panels and profiles that are easy to recycle, contributing to a more sustainable and circular economy.

voda 5 april 2023 10:18

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Moil Records Second-Highest Production in FY'23 since Inception

MOIL Limited, the largest producer of manganese ore in India, has achieved its second-highest production since inception, registering a 6% growth over the previous year, with the production of 1.302 million metric tons of Manganese (Mn) Ore in Financial Year 2022-23. The company has also achieved a capital expenditure of ?245 crores, which is 14% higher than the previous financial year. The Chairman and Managing Director of MOIL Limited, Mr. Ajit Kumar Saxena, congratulated the company on its achievements and expressed confidence that MOIL is poised to achieve much higher levels of production in the coming years.

With a focus on exploration, MOIL has carried out the best-ever exploratory core drilling of 41,762 meters in FY’23, which is 2.7 times of the average exploration achieved in the last five years. This will be the foundation of opening new Manganese mines in the country and enhance production from its existing mines.

The sales turnover of Electrolytic Manganese Dioxide (EMD) reached a new high, which is more than two times higher than the previous year. EMD is a 100% import substitution product, used mostly for pharmaceuticals and manufacturing of batteries. MOIL has ambitious plans of more than doubling its production to 3.00 million metric tons by 2030 and is exploring business opportunities in the states of Gujarat, Rajasthan, Chhattisgarh, and Odisha.

MOIL operates eleven mines in the states of Maharashtra and Madhya Pradesh. The company has a dominant presence in the domestic manganese ore market, contributing about 45% of the domestic production.

voda 5 april 2023 10:19

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Elite Steel Inaugurates New Billet & Melting Capacity in Bangladesh

Bangladesh-based Elite Steel has announced that it has installed two new induction furnaces, each with a capacity of 25 metric tons, and a modern continuous billet casting machine in Ghorashal. With the installation of the new equipment, the company’s total production capacity has increased to 120,000 metric tons per year of billet and 5,000 metric tons per year of rebar.

The new equipment has an air pollution control system that captures fumes and smoke released from the scrap melting process. Additionally, all wastewater is treated, recycled, and used internally to ensure efficient water consumption.

According to a statement by Elite Steel’s director Mr. Shayaan Seraj, "Our brand-loyal customers have been asking for this increase in capacity for a while; it is our hope that we can now start servicing their requirements and play an even stronger role as a development partner for infrastructure development in Bangladesh."

The expansion comes at a time when Bangladesh’s infrastructure development is growing fast, with an increasing demand for high-quality steel products. Elite Steel believes that the new capacity will help the company to better serve its loyal customers and play a stronger role in infrastructure development in Bangladesh.

Elite Steel is a steel manufacturing company based in Bangladesh. The company was established in 2009 and has since become a leading producer of high-quality steel products in the country. Elite Steel's production facilities are located in Sitakunda, Chittagong, and cover an area of 33 acres. The company operates several production lines, including a blast furnace, a steel-making plant, and a rolling mill, which allow it to produce a wide range of steel products, such as billets, rebar, and wire rod. The company has a production capacity of 1.2 million metric tons per year and employs over 2,000 people.

voda 5 april 2023 10:19

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MMK to Save $15 Million with 370 Technical Innovations in 2022

Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has implemented 370 technical innovations in 2022, which are expected to result in more than $15.5 million in savings, according to the company's annual public review on the implementation of advanced technologies and best industry practices. These innovations enabled MMK's production units to solve 10 high-priority technical tasks, including those related to increasing production efficiency and improving product quality.

Another 60 innovations are currently being developed or prepared for implementation. Among MMK's production units, the sinter shop at the company's mining and processing division was the leader in adopting technical innovations in the first group of shops, with an expected economic impact of RUB 225 million in savings.

Meanwhile, the oxygen shop at MMK's Chief Power Engineer Department was the leader in the second group of shops, implementing innovations with an expected economic benefit of approximately RUB 138 million.

voda 5 april 2023 10:19

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Russula Begins WTP Equipment Shipment to Big River Steel in US

Russula, a global engineering company specializing in the steel industry, announced that the construction of a large water treatment plant for Big River Steel (US Steel) is progressing as planned. This project is one of the largest water treatment plants ever built for the metallurgical industry.
According to Russula, all the civil engineering work has been completed, and the engineering of the remaining disciplines is being finalized. The cooling towers are already installed, and the rest of the equipment is being shipped from Europe and the USA.

Moreover, Russula has prefabricated the piping, which will be shipped ready for installation. This innovative solution reduces assembly time and personnel at the plant, optimizing installation costs.

The water treatment plant is a crucial component of Big River Steel's operations, allowing the company to recycle water and reduce its environmental footprint. By working with Russula, Big River Steel has access to the latest technologies and expertise in water treatment, ensuring that the plant operates efficiently and sustainably.

voda 6 april 2023 08:18

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India's Crude Steel Production Crosses 125 Million Metric Tons Mark

According to provisional data from JPC, India's crude steel production has reached a new record high of 125.32 million metric tons in the financial year that ended in March 2023. This represents a 4.2% increase compared to the previous year, in line with the government's estimates.

However, India's imports of steel have also risen to a four-year high of 6 million metric tons in 2022/23, a growth of 29% on the year and the highest since 2019/20. Meanwhile, India's exports of finished steel have fallen to a five-year low of just 6.7 million metric tons in 2022/23, down 50.2% on the year and the lowest since 2018/19. Despite the drop in exports, India was still a net exporter of finished steel in 2022/23.

Overall, consumption of total finished steel in India reached 119.17 million metric tons in 2022/23, up 12.7% on the year.
According to earlier data released by JPC for April-February 2023, the performance in March 2023 was the best ever recorded, with crude steel production reaching 11.9 million metric tons and consumption at 12.09 million metric tons. Additionally, the estimated import and export volumes for March were 0.4 million metric tons and 0.8 million metric tons, respectively.

Vertraagd	21 feb 2025 17:35
Koers	27,050
Verschil	+0,230 (+0,86%)
Hoog	27,270
Laag	26,840
Volume	1.778.340
Volume gemiddeld	2.637.315
Volume gisteren	2.493.470

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