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Budget 2021: Capex boost to drive steel demand
A detailed look at the Budget provisions impacting steel sector

Also read:
• Scrappage policy eyes Rs 10,000 crore investments
• Steel makers turn around on sector revival
• Vale expects to achieve 350 mt capacity by the end of 2021
• Govt. puts 7 coking coal mines in commercial block auction second tranche

Read Steel Insights February 2021 issue and get a complete insight into the Indian steel value chain...!

Budget 2021: Capex Boost To Drive Steel Demand

A Union Budget like ‘never before’ has put revival of economic growth as the central theme which is intended to be achieved, as proposed by Finance Minister Nirmala Sitharaman, through generous capital expenditure across sectors including infrastructure to pull the economy out of the post-pandemic slowdown.

10+ mins

December crude steel production up 4% on year

India’s crude steel production stood at 9.79 million tons (mt) in December, up 4.4 percent over same month of the previous year and was up by 3.7 percent over November, provisional steel ministry data showed.

1 min

Government floats EoI to privatise Neelachal Ispat

The Central government, vide order dated Jan 5, in exercise of its powers u/s 20A of the MMDR Act, 1957 has granted permission to sell up to 25% of the annual iron ore production of NINL as per the MDPA executed by the company for a period of 1 year or till the completion of disinvestment of the company, whichever is earlier, under intimation to the State Government and Indian Bureau of Mines.

5 mins

Year starts on a high for car makers

“We have seen strong bookings fueled by continued demand. Supply shortage of micro-processor semiconductors continues to be a serious challenge for the auto industry. Going forward we are working with our supplier partners to gear up our supply chain and meet the market demand.” Veejay Nakra, Chief Executive Officer, automotive division, M&M

4 mins

Seaborne coking coal offers surge in January

Seaborne coking coal offers moved up in January as new deals were sealed at higher prices, market sources said.

2 mins

Traffic handled by major ports down 9% till December

The 12 major Indian ports handled 477.75 mt of traffic in AprilDecember, lower by 8.8% than 523.84 mt recorded for the corresponding period of last year, according to data released by IPA.

1 min

Railways' ore handling down 1.25% in April-December

Railways during April-December transported iron ore of 111.32 mt, down by 1.25% from 112.74 mt during year-ago period.

1 min

Vale iron ore output drops 5% on month

Following production restrictions, Vale ended 2020 with 322 mt of production capacity and expects to achieve 350 mt capacity by the end of 2021.

2 mins

Government to disinvest 100% in RINL

“CCEA has given inprinciple approval for 100% strategic disinvestment of GoI shareholding in RINL along with management control by way of privatization,” Secretary, DIPAM.

2 mins

PM chairs 35th Pragati interaction

Prime Minister Narendra Modi recently chaired the meeting of 35th edition of Pragati, the multi-modal platform for Pro-Active Governance and Timely Implementation, involving Central and State governments.

6 mins

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Steel Insights Magazine Description:

Steel Insights is India's premier and widely read monthly magazine on steel and metallurgical industry published by mjunction services ltd (A JV of Tata Steel and SAIL).It delves into the various facets of the domestic and global steel industry, such as market fundamentals, raw material price trends, price forecasts, upcoming projects, corporate updates and international trade and logistics issues.It also includes an incisive analysis of news on steel and allied industries, as well as expert opinions on relevant topics and interviews of industry stalwarts on a regular basis.

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