Steel Insights - October 2021
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October 2021 issue Digital Access. - Magazine Details
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In this issue
Recycling: The route to decarbonisation Need for green steel to drive scrap usage. Also read: • Steel demand likely to see growth in coming months: SAIL Chairman • NMDC raises FY22 output target to 47 mt • ArcelorMittal bets big on decarbonisation • Steel Min focuses on raising consumption, cost cutting • Iron ore offers stay soft, offtake to pick up in H2 Read Steel Insights, October 2021 issue and get a complete insight into the Indian steel value chain..!
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Car sales on a bumpy ride ahead of festivities
Plagued by the shortage of semiconductors, car sales in September saw a huge drop of 36.5 percent to 185,908 units from 292,858 units in the same month last year.
Indian Railways' iron ore handling up 36% till August
Indian Railways in April-August 2021 transported 73 mt of iron ore, up 36% from 54 mt during AprilAugust 2020.
Steel Ministry focuses on raising consumption, cost cutting measures
The steel ministry, in a recent series of meetings with officials of major state-owned and private steel makers, asked the industry to raise steel consumption across several sectors of the economy and also take steps to bring down costs of production.
August crude steel production up 8.2% y-o-y, 0.8% m-o-m
India’s crude steel production stood at 10 mt in August 2021, up 8% over August 2020 and 1% over July 2021.
ArcelorMittal bets big on decarbonisation
The Ghent project involves the reduction of CO2 emissions by 3.9 mtpa by 2030, by building a 2.5 million ton DRI plant and two electric furnaces, which will operate alongside its state-of-the-art blast furnace that can take waste wood and plastics as a substitute for fossil carbon.
Global crude steel output down 3% in August
China manufactured 83.2 mt in August, fall of 13% over previous year and India’s production was up by 8% y-o-y to 9.9 mt.
Iron-ore handled by major ports down 8% till August
The 12 major Indian ports handled 25 mt of iron ore during AprilAugust 2021, 8% lower than 27 mt handled in the same period of the previous year, according to data released by IPA.
Recycling: The route to decarbonisation
India, the second-largest steelmaker in the world, is also the second-largest importer of steel scrap. Surely India fares poorly in terms of scrap generation and consumption despite steel being the most recyclable metal in the world.
NMDC raises FY22 output target to 47 mt
“NMDC has made IT and digitalisation a strategic priority, synergising its efforts to significantly enhance competitive advantage and efficiency. We expect technology, automation and data analytics will reinvent all aspects of our business – from mineral exploration to mining, processing of ore to the sales and distribution of the product.” Sumit Deb, CMD, NMDC
More coking coal mines to be offered in auction
Govt has set up 2 committees under Assistant Secretary (Coal) for making suggestions on augmentation and consumption of domestic coking coal by the steel sector under Coking Coal Mission.
