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India to Outpace Major Steel-Consuming Economies In 2025

Finished steel imports from all key exporters to India have increased.

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India will continue to outpace other major steel-consuming economies in calendar year 2025 with a demand growth of 8-9 per cent, CRISIL’s Market Intelligence and Analytics report said. This demand will be driven by a shift towards steel-intensive construction in the housing and infrastructure sectors along with better demand from engineering, packaging and other segments, the report added. The report, however, highlights that the domestic supply will remain a “point of concern,” adding that the demand is estimated to have increased by 11 per cent in India.
Competitive imports and a decline in exports also played a role in weaker production growth in 2024. While finished steel imports increased by 24.5 per cent, exports declined by 6.4 per cent, leading to additional availability of 3.2 million tonnes of finished steel apart from domestic production. This additional material availability accounted for 2 per cent of the total finished steel demand.
The report added that the finished steel imports from all key exporters to India have increased significantly in the past few years. For instance, China has traditionally been an exporter of value-added products and speciality steel such as galvanised and coated steel, alloy steel and stainless steel to India, with a minimal share of hot-rolled coils and strips (HRC) and cold-rolled coils and strips (CRC).
However, between 2022 and 2024, while finished steel imports from China increased 2.4-fold, imports of HRC jumped 28-fold. Notably, HRC is used as feed material to produce various value-added downstream products, and these imports are often at a discount to domestic HRC prices, creating price pressure on domestic steel. Similarly, the overall finished steel import from Japan increased 2.8-fold in 2024 from the base of 2022, while HRC imports increased 16.6-fold. Finished steel imports from Vietnam increased 8-fold, while HRC imports jumped 27-fold.
Import growth from South Korea was relatively modest, bringing down its share in India’s finished steel import basket. Domestic steel prices, meanwhile, declined in 2024, impacted by additional material availability due to an increase in net imports. HRC prices declined 9 per cent, and CRC prices declined 7 per cent, thereby slowing the topline growth of domestic mills. Nevertheless, low volatility and declining coking coal prices have helped to lessen margin pressure to some extent, as per the report.
While iron ore prices are predicted to have risen by 9-10 percent during the period, the spot price of coking coal for the Premium Low Volatility grade, which is of Australian origin, fell by 12 percent in 2024. Notably, the price of China HRC exports fell by 12 percent in 2024 and continues to be lower than the price of domestic mills.
The report added that the imposition of a safeguard duty proposed by the industry could be a positive and if implemented, steel prices in 2025 would be much higher than 2024, with the impact more prominent in the first half.

Concrete

Efficient Cooling Solution Boosts Gearbox Uptime

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Efficient Oil Cooling for Gearbox in the Cement Industry. How a High-Performance Plate Heat Exchanger Ensured Thermal Stability and Operational Continuity.

Contributed by: Narendra Joshi and Sourabh Mishra

Application: Gearbox Oil Cooling
Objective: To maintain optimal oil temperature in high-viscosity lubrication systems for gearboxes in cement plants, ensuring uninterrupted operations and minimizing production losses due
to overheating.
Challenge: A prominent cement manufacturing company’s conventional cooling systems were failing to maintain the oil temperature within the optimal range, jeopardizing equipment performance and leading to avoidable downtime.

Background with the Existing System
In heavy-duty industrial applications, particularly in the cement industry, gearboxes are critical components that must operate under high mechanical loads and harsh conditions. These gearboxes rely on lubrication systems where oil plays a dual role, lubrication and heat dissipation. A recurring challenge in such setups is managing the temperature of the gearbox oil. When oil heats beyond a critical limit, its viscosity drops, reducing its ability to form a protective film. This leads to increased friction between components, heat generation, and eventual damage to gearbox components — directly impacting plant uptime and production output.

Delivering Sustainable Heat Transfer Solution with HRS FUNKE High Efficiency Heat Exchanger
This system was selected for its:

  • Excellent thermal performance, ensuring rapid and efficient oil cooling even with high-viscosity fluids.
  • Leakage-proof operation, with no cross-contamination between cooling water and lubrication oil.
  • Robust design, capable of withstanding high operating pressures and variable flow conditions.

The plate exchanger was custom configured based on the oil’s properties, desired outlet temperature, and ambient heat load, ensuring that the oil remained within the specified viscosity range necessary for maintaining gearbox operation and lubrication integrity.

Performance Benefits Delivered

  • Oil temperature control and maintained consistently within target range
  • Viscosity stability and prevented breakdown of lubrication film
  • Equipment reliability and reduced risk of gearbox overheating or failure
  • Production continuity and eliminated unplanned stoppages
  • Long-Term savings and lower maintenance costs and extended oil life

Solution: To address the problem, HRS Process Systems Ltd recommended the installation of a Funke Plate Heat Exchanger a compact, high-efficiency thermal solution engineered specifically for industrial lubrication oil cooling.

Conclusion: The customer achieved precision oil temperature control, ensuring that the gearboxes operated at optimal conditions. This not only safeguarded the mechanical integrity of the gearbox but also directly contributed to higher plant uptime and improved production efficiency in heavy industries like cement manufacturing.

(Communication by the management of HRS Process Systems Ltd)

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Concrete

How Upgrades Can Deliver Energy Savings Across the Cement Process

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Jacob Brinch-Nielsen, Vice President of Professional Services, FLSmidth Cement, brings together recommendations from experts across the flow sheet to demonstrate the role of upgrades in optimising the cement manufacturing process.

Improving energy efficiency in material transport
Pneumatic conveying offers a cleaner and more contained alternative to mechanical conveying. However, pneumatic systems can also be energy-intensive, with inefficiencies arising from air leakage, pressure losses, and outdated equipment designs. Optimising these systems can significantly reduce energy consumption and operating costs.
“One major challenge is maintaining efficient air-to-material ratios, as excessive air use leads to unnecessary power consumption,” explains Emilio Vreca, Manager of PT Product Engineering “Leaks in piping and inefficient compressors further compound energy losses. To address these issues, upgrading to the latest pneumatic conveying solutions can yield substantial improvements.”
The latest pump design—the Fuller-Kinyon® (FK) ‘N’ Pump—provides power savings of up to 15 per cent thanks to an improved seal, while an extended barrel and screw design have improved volumetric efficiency by more than 15 per cent. Similarly, the latest generation Ful-Vane™ Air Compressor has been engineered for increased energy efficiency, with an improved inlet area for capturing larger air flows and compatibility with variable frequency drives.

Optimising energy efficiency in packing and dispatch
Even minor inefficiencies in bagging and palletising can lead to higher maintenance demands, increased material waste, and unnecessary energy use. Reducing these inefficiencies is yet another lever to improve overall plant performance and sustainability.
Upgrading rotary packers enhances weighing accuracy, reduces spout-to-spout variations, and lowers reject rates, improving both product consistency and energy efficiency. Similarly, replacing pneumatic drive systems in palletisers with electric alternatives eliminates compressed air dependency, leading to more precise bag handling and reduced energy demand. These targeted upgrades help streamline operations while minimising environmental impact.
A key development in dust control is the FILLPro™ Dust Reduction Kit for GIROMAT® EVO. “By refining material flow and fluidisation, FILLPro reduces dust emissions at the source, improving bagging efficiency and plant cleanliness,” explains Gabriele Rapizza, Proposal Engineer. “This reduces material loss, prevents blockages, and cuts down on maintenance, helping plants achieve a more stable and energy-efficient packing operation.”

How services contribute to increased energy efficiency
In the past, many viewed the role of the supplier as a “sell-and-move-on” model. Things have certainly changed. As cement producers face challenging markets, heightened competition, and increasingly ambitious decarbonisation targets there is little room to tolerate inefficiencies within the plant. The paradigm has shifted such that the value of expert services is as essential as the initial equipment supplied. Furthermore, as digital solutions progress at speed, a fluid, long-term partnership gives cement plants the best platform to take advantage of the latest tools.
Whether it’s an audit to identify why energy efficiency has decreased from one year to the next, or even an optimisation package preparing your plant for carbon capture solutions – we are believers in the principle that there is always more we can do to improve efficiency. For example, our Online Condition Monitoring Services (OCMS) provide continuous monitoring of critical equipment such as the kiln, mills, cooler and fans, aggregating data and utilising advanced algorithms to identify potential trouble spots. As the OEM and an experienced full solutions provider, we can support these services with expert advice, not only alerting you to a problem but also providing recommendations as to how to remedy it or attending site to support you in person.

Small upgrades, big impact
Energy efficiency is a critical factor, influencing both operational costs and sustainability goals. While large-scale innovations such as carbon capture will play an essential role in long-term decarbonisation (and steal the headlines), incremental mechanical upgrades offer an immediate pathway to lower energy consumption with minimal disruption.
By optimising key process areas — grinding, dosing, combustion, cooling, and material transport — you can achieve measurable energy savings while improving performance and flexibility. These solutions provide a strong return on investment and pave the way for a more sustainable cement industry.

Part 3 of 3. Read Part 1 in the May issue of Indian Cement Review and Par 2 in the June issue of the Indian Cement Review magazine.

(Communication by the management of the company)

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Economy & Market

Hindalco Buys US Speciality Alumina Firm for $125 Million

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This strategic acquisition marks a significant investment in speciality alumina, a key step by Aditya Birla Group’s metals flagship towards becoming future-ready by scaling its high-value, technology-led materials portfolio.

Hindalco Industries, the world’s largest aluminium company by revenue and the metals flagship of the $28 billion Aditya Birla Group, has announced the acquisition of a 100 per cent equity stake in US-based AluChem Companies—a prominent manufacturer of speciality alumina—for an enterprise value of $125 million. The transaction will be executed through Aditya Holdings, a wholly owned subsidiary.

This acquisition represents a pivotal investment in speciality alumina and advances Hindalco’s strategy to expand its high-value, technology-led materials portfolio.

Hindalco’s speciality alumina business, a key pillar of its value-added strategy, has delivered consistent double-digit growth in recent years. It has emerged as a high-growth, high-margin vertical within the company’s portfolio. As speciality alumina finds expanding applications across electric mobility, semiconductors, and precision ceramics, the deal positions Hindalco further up the innovation curve, enabling next-generation alumina solutions and value-accretive growth.

Kumar Mangalam Birla, Chairman of Aditya Birla Group, called the acquisition an important step in their global strategy to build a leadership position in value-added, high-tech materials.

“Our strategic foray into the speciality alumina space will not only accelerate the development of future-ready, sustainable solutions but also open new pathways to pursue high-impact growth opportunities. By integrating advanced technologies into our value chain, we are reinforcing our commitment to self-reliance, import substitution, and building scale in innovation-led businesses.”

Ronald P Zapletal, Founder, AluChem Companies, said the partnership with Hindalco would provide AluChem the ability and capital to scale up faster and build scale in North America.

“AluChem will benefit from their world-class sustainability and safety standards and practices, access to integrated operations and a consistent, reliable raw material supply chain. Their ability to leverage R&D capabilities and a talented workforce adds tremendous value to our innovation pipeline, helping drive market expansion beyond North America.”

An Eye on the Future

The global speciality alumina market is projected to grow significantly, with rising demand for tailored solutions in sectors such as ceramics, electronics, aerospace, and medical applications. Hindalco currently operates 500,000 tonnes of speciality alumina capacity and aims to scale this up to 1 million tonnes by FY2030.

Commenting on the development, Satish Pai, Managing Director, Hindalco Industries, said the deal reinforced their commitment to innovation and global expansion.

“As alumina gains increasing relevance in critical and clean-tech sectors, AluChem’s advanced chemistry capabilities will significantly enhance our ability to serve these fast-evolving markets. Importantly, it deepens our high-value-added portfolio with differentiated products that drive profitability and strengthen our global competitiveness.”

AluChem adds a strong North American presence to Hindalco’s portfolio, with an annual capacity of 60,000 tonnes across three advanced manufacturing facilities in Ohio and Arkansas. The company is a long-standing supplier of ultra-low soda calcined and tabular alumina, materials prized for their thermal and mechanical stability and widely used in precision engineering and high-performance refractories.

Saurabh Khedekar, CEO of the Alumina Business at Hindalco Industries, said the acquisition unlocked immediate synergies, including market access and portfolio diversification.

“Hindalco plans to work with AluChem’s high performance technology solutions and scale up production of ultra-low soda alumina products to drive a larger global market share.”

The transaction is expected to close in the upcoming quarter, subject to customary closing conditions and regulatory approvals.

 

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