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India’s Steel Consumption to Grow 9-10% in FY25: ICRA

Steel sector capacity to hit 88% despite monsoon and rising imports.

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India’s domestic steel consumption is projected to rise by 9-10% in FY2025, according to a report by ICRA. The first quarter of FY2025 saw a 15% year-on-year growth in demand, although a slowdown is anticipated in the current quarter due to monsoon impacts. ICRA forecasts that steel sector capacity utilization will reach a decade-high of 88%, despite the addition of 15.6 million tonnes per annum (mtpa) of new capacity this year.

Between FY2021 and FY2024, India’s steel industry expanded rapidly, adding 26.3 mtpa of capacity. An additional 27.5 mtpa is expected between FY2025 and FY2027, driven by growing demand and increased imports. India’s finished steel imports rose by 35.4% in Q1 FY2025, continuing last year’s trend.

Despite rising imports, steelmakers are benefiting from lower raw material costs, with Australian coking coal prices down 45% and NMDC reducing iron ore prices by 18%. These reductions are expected to support profitability, though temporary margin contractions may occur in Q2 FY2025.

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Krystal Wins Rs 90 Million Sanitation Contract from Jindal Steel

One-year mandate covers hygiene and upkeep across Jindal Nagar

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Krystal Integrated Services Ltd, a leading provider of integrated facility management solutions, has secured a one-year sanitation services contract worth about Rs 90 million from Jindal Steel Limited. The agreement covers comprehensive cleaning and maintenance of plant sanitation facilities at Jindal Nagar in Odisha, aimed at enhancing hygiene and ensuring consistent upkeep across high-footfall areas.

The scope of work includes mechanised housekeeping such as sweeping and mopping, deep cleaning of walls and ceilings, maintenance of urinals, washbasins and shower zones, replenishment of consumables, drainage upkeep and overall cleanliness of toilet surroundings. Krystal will deploy trained personnel, specialised cleaning agents and sanitation equipment to ensure uniform service delivery.

Sanjay Dighe, CEO and Director of Krystal Integrated Services Ltd, said the mandate highlights the company’s commitment to supporting industrial hygiene and worker well-being. He noted that sanitation in large manufacturing environments requires discipline, reliability and process excellence.

The company will implement daily reporting, compliance monitoring and strict adherence to industrial safety standards, ensuring seamless coordination with plant administration. The contract strengthens Krystal’s growing presence in India’s industrial facility management space and underscores its capability to manage large operational mandates.

Founded in 2000 and headquartered in Mumbai, Krystal Integrated Services Ltd has grown into one of India’s leading integrated facility management companies, serving sectors including healthcare, education, government, transport and retail. Its operations and client base have expanded significantly in recent years.

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Aichi Steel to Expand Punjab Ties With Rs 5 Billion Investment

Japanese major plans deeper collaboration with Vardhman Steels.

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Japanese steel major Aichi Steel has agreed to expand its partnership with Vardhman Special Steels in Punjab through a proposed investment of Rs 5 billion, Chief Minister Bhagwant Mann announced on Thursday. The development follows the signing of an MoU between the two companies during the CM’s visit to Aichi Steel on the third day of his Japan tour.

Calling it a “red-letter day” for Punjab, Mann said Aichi Steel Corporation — widely recognised as the steel arm of Toyota — has committed to strengthening its role in the state’s industrial growth. The company currently holds a 24.9 per cent stake in Vardhman Special Steels and serves as a key technology partner, signalling a deepening Indo-Japan industrial partnership in Punjab.

The Chief Minister said the Japanese firm will evaluate its future manufacturing operations in the state, including conducting a feasibility study for the proposed Rs 5-billion investment. Mann assured full government support to further the collaboration and emphasised Punjab’s commitment to helping existing Japanese investors scale their operations.

He added that advanced technical cooperation from Aichi Steel, combined with the Vardhman Group’s expertise, would usher in a new phase of industrial development in the state.

Mann also invited Aichi Steel’s leadership to attend the Progressive Punjab Investors’ Summit 2026, to be held from 13–15 March at the Indian School of Business, Mohali. He said the summit would showcase Punjab’s progress and offer fresh opportunities for collaboration, expressing optimism that Japanese participation would be strong.

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NMDC Steel Posts Record Output Across All Units in November

NSL reports best-ever monthly performance with strong capacity use.

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NMDC Steel Limited (NSL), the country’s youngest integrated steel plant, closed November 2025 with its strongest operational performance to date, achieving record output across multiple units and demonstrating rising capacity utilisation, process stability and operational excellence.

The Raw Material Handling System recorded exceptional throughput, tipping 616 wagons on 21 November — the highest ever in a single day — while Base Mix production reached a record 518,886 tonnes for the month. At the Sinter Plant, NSL posted both daily and monthly records, producing 15,590 tonnes in a single day on 30 November and 414,271 tonnes during the month, operating at more than 105 per cent of its rated capacity.

The Blast Furnace delivered remarkable results, with the highest-ever daily Hot Metal production of 11,315 tonnes on 28 November, operating at 119 per cent of capacity. Monthly Hot Metal output reached 280,049 tonnes, crossing 101 per cent utilisation. NSL also achieved its lowest-ever monthly average fuel rate of 519 kg per tonne of Hot Metal using only sinter and ore in the burden, one of the best benchmarks nationwide, and recorded its highest monthly average PCI rate of 164 kg per tonne.

The Steel Melting Shop and Thin Slab Caster–Hot Strip Mill units also attained peak performance. NSL posted record monthly HR Coil production of 203,356 tonnes, crude steel output of 209,445 tonnes and liquid steel production of 215,010 tonnes, with capacity utilisation exceeding 84, 85 and 86 per cent respectively. The plant set a new benchmark with converter lining life reaching 4,799 heats. Two new grades—IS 2062 E450BR and IS 2062 E350C—successfully entered commercial production, expanding the company’s offerings for construction, infrastructure and heavy engineering sectors.

Cost efficiency improved through optimised operations at the Oxygen Plant, generating estimated savings of about Rs 19 million in power costs by running in single-plant turndown mode. NSL also completed PG Tests of the Blast Furnace (Package 05) and Turbo Blower (Package 10A), and secured BIS licences for IS 2041:2024 and IS 2062 E450BR.

Commenting on the strong results, CMD Shri Amitava Mukherjee said the plant’s consistent record-breaking performance reflects the discipline and determination of the NSL team. He added that as India advances towards global steel leadership, NSL is positioned to contribute with technology-driven efficiency, an expanding product portfolio and a commitment to national development.

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