Uncategorized

Steel Ministry restricts import of substandard products

The BIS has established 151 standards encompassing 1376 steel grades under the Steel Ministry’s QCO.

Published

1 month ago

December 2, 2024

admin

The central government has identified instances of substandard steel imports and has taken measures to prevent their entry into the country. The Ministry of Steel stated that cheaper imports tend to lower domestic steel prices and negatively impact both large and small steel producers.

According to the ministry, numerous traders and manufacturers have been attempting to bypass the Bureau of Indian Standards (BIS) requirements by making minor alterations to steel grades. Official reports indicate that this appears to be an effort to import inexpensive steel under the guise of different grades.

The BIS has established 151 standards encompassing 1376 steel grades under the Steel Ministry’s Quality Control Orders (QCO). The ministry emphasized that this framework ensures compliance with BIS standards for both domestically produced and imported steel. The statement further highlighted that these measures are aimed at restricting the import of low-quality steel.

While steel imports require a BIS license, certain grades not yet covered by BIS standards may be imported with a No Objection Certificate (NOC) from the Steel Ministry. However, the ministry noted instances of misuse of this provision. Officials observed that many traders and manufacturers have been modifying steel grades slightly to circumvent BIS requirements.

Official data revealed that import applications for 1136 additional grades have been submitted to the Steel Ministry. Most of these grades are reportedly neither internationally recognized nor covered by BIS standards. They often involve minor variations in chemical composition or product dimensions and appear to facilitate the import of cheaper steel under the pretext of alternative grades. Furthermore, many of these shipments were ordered without obtaining the requisite NOC from the ministry.

Addressing concerns regarding restrictions on Japanese steel imports, the ministry clarified that 735 applications for importing Japanese steel had been received. Of these, 594 were approved, while 141 were denied due to non-compliance with established norms.

Up Next

India Considers ‘Safeguard Duty’ to Control Steel Imports

Don't Miss

5 Brands Leading the Charge in Aluminium Design and Engineering

Uncategorized

Kumaraswamy Discusses New Steel Plant in Andhra Pradesh

ArcelorMittal Nippon Steel to boost local steel production.

Published

5 days ago

January 8, 2025

admin

Union Minister for Heavy Industries and Steel, HD Kumaraswamy, held a crucial meeting with an Andhra Pradesh delegation in Delhi to discuss the establishment of a new steel plant by ArcelorMittal Nippon Steel Corporation in the state.

The meeting, attended by Andhra Pradesh Industries Minister TG Bharat, senior state officials, Amitava Mukherjee (Chairman and Managing Director of NMDC), and Dilip Oommen (CEO of ArcelorMittal Nippon Steel), focused on the proposed steel plant’s development and potential benefits for the state.

Kumaraswamy emphasized the importance of promoting new investments in the steel sector to reduce dependence on imported steel and strengthen India’s domestic production capabilities. This aligns with Prime Minister Narendra Modi’s vision of achieving an annual steel production target of 300 million tonnes by 2030.

He also noted that the central government has positively responded to ArcelorMittal’s commitment to invest in Andhra Pradesh, which will contribute significantly to the state’s economy and steel production sector. The meeting covered key topics such as capital investment, job creation, and steel production capacity.

The proposed integrated steel plant will be located in Anakapalli district, Andhra Pradesh, with an annual production capacity of 17.8 million tonnes. This plant is expected to play a pivotal role in supporting the nation’s growth and fulfilling its increasing demand for steel.

Kumaraswamy added that he had previously engaged in multiple discussions with Andhra Pradesh Chief Minister N Chandrababu Naidu about the project. The plant is expected to create substantial employment opportunities and boost the region’s industrial capabilities.

The project is a significant step toward India’s self-reliance in steel production, fostering long-term growth for the country and reinforcing the government’s commitment to the steel industry’s future.

Uncategorized

SAIL Signs MoU with John Cockerill India for Green Steel

SAIL is focused on transforming its operations and adopting advanced technologies

Published

1 month ago

December 4, 2024

admin

Steel Authority of India Limited (SAIL) has entered into a strategic partnership with John Cockerill India Limited (JCIL) to advance green steel production and technology within the steel industry.

The Memorandum of Understanding (MoU) was signed in Mumbai between SAIL Director (Finance) Anil Kumar Tulsiani and JCIL Managing Director Michael Kotas. This collaboration will focus on improving technologies in cold rolling, carbon steel production, green steel, and specialized silicon steels.

The partnership also aims to integrate green technologies into traditional iron and steelmaking processes to reduce carbon emissions and enhance resource efficiency. This move aligns with SAIL’s sustainability goals and its commitment to reducing the environmental impact of steel production.

SAIL is focused on transforming its operations and adopting advanced technologies to contribute to a greener future in the steel industry. The MoU marks a significant step towards the company’s vision of sustainable growth.

Uncategorized

India Considers ‘Safeguard Duty’ to Control Steel Imports

Indonesia’s steel consumption is around 17 mt.

Published

1 month ago

December 3, 2024

admin

India is exploring the implementation of safeguard duties to curb the influx of steel at low or zero tariffs under the free trade agreement (FTA) with the ASEAN region. This move comes as Chinese companies expand their steel manufacturing capacities in ASEAN countries.
Discussions are underway between the steel and commerce ministries, ahead of the next India-ASEAN FTA review talks scheduled for February. Industry experts report that Chinese firms are adding approximately 97 million tonnes (mt) of blast furnace-basic oxygen furnace (BF-BOF) capacity in ASEAN, expected to be operational within the next 5-6 years.
With annual steel consumption in ASEAN at around 75 mt, there are concerns that the surplus production could be redirected to India due to the tariff advantages under the India-ASEAN FTA. “Discussions are ongoing, and measures like imposing a safeguard duty are being considered,” a senior government official said.
Alok Sahay, Secretary General of the Indian Steel Association, noted that the influx of 97 mt of new BF-BOF capacity in ASEAN countries poses a threat to Indian steel producers. “Given the current FTA and the limited growth in ASEAN’s consumption, these new capacities are mainly for export. India’s low-to-zero tariffs make it an attractive market compared to the EU or the US,” Sahay added.
The South East Asia Iron and Steel Institute (SEASI) projects that the region’s steel production capacity will reach 145 mt by 2026. Praful Venugopal, CEO of Mittal Steel Indonesia, mentioned that Chinese producers have signed agreements with Indonesia to set up plants that will contribute an additional 20 mt of capacity. Indonesia’s steel consumption is around 17 mt, and these new plants are designed to supply exports.
The anticipated oversupply from ASEAN could lead to depressed domestic steel prices in India, where production in FY24 was 139 mt, just slightly above consumption of 136 mt.
(ET)