banner-1 Hon. Minister of Steel Sh. Narendra Singh Tomar
माननीय इस्पात मंत्री, श्री नरेंद्र सिंह तोमर
banner-1 Hon. Prime Minister of India
भारत के माननीय प्रधानमंत्री जी
banner-1 Hon. Minister of State for Steel Sh. Vishnu Deo Sai
माननीय राज्य इस्पात मंत्री, श्री विष्णु देव साई
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Indias NMDC cuts iron ore prices by 2-11% on month

Indias National Mineral Development Corporation has cut iron ore prices by 2-11 percent for October from September after a request from domestic steel makers, which have been slashing capacity due to lack of the raw material, a company source told Reuters. 

"There was a demand from domestic steel manufacturers to reduce prices, so this was done to support them," the source at the countrys biggest iron ore miner said on condition of anonymity. 

Steel makers have faced challenges in obtaining iron ore, an important steel making ingredient, because domestic production has been reduced by mining bans in key iron ore producing states like Karnataka and Goa. That has forced them to turn to expensive imports. 

Tata Steel bags HR excellence award at CII National HR Conclave

Tata Steel showcased its unique and distinct Human Resource and Industrial Resource practices through an exhibition organized at the venue, which was visited by many renowned honchos including S Gopalakrishnan, Co-Founder and Executive Co-Chairman, Infosys Technologies.

Expressing his views on HR practices, Nerurkar, said, "Ethics and governance will be the key drivers for the industry tomorrow."

In these challenging times, inculcating a culture of ethics in the talent is extremely important," he said. 

New steel policy aims to sort out industry problems

The new National Steel Policy will try to sort out issues including land acquisition and raw material security that are at present crippling the sectors growth in the country, sources said.

"The new National Steel Policy will address a number of issues which were not addressed fully in the existing Policy of 2005 and which have a bearing on the development of steel industry  in the country in the medium and long term," a source in the committee that is drafting the new Policy said. 

SAIL considers raising R&D spend to 1% of gross sales

County’s largest steel produce, Steel Authority of India Limited (SAIL) plans to increase its Research and Development (R&D) spend to 1 per cent of gross sales to mobilize funds for development of new technologies and counter competition domestic and overseas steel companies. SAIL has approved a master plan for R&D to facilitate acquisition and development of appropriate technologies for sustainable growth.   

JSW Steel pares vijaynagar plant output to 30%

                JSW Steel has cut production at its Vijaynagar plant to 30 percent of original levels, on the back of a stoppage of Iron ore supply .Its largest plant in the country, Vijaynagar    has a production capacity of over 10 million tones a year. The abrupt disruption of supplies to JSW Steel (a long-term customer) by NMDC cut the lifeline to run the furnaces in safe condition. The Apex court’s directive to supply a million tonner per month to steel industry by NMDC even after a lapse of 50 Day is yet to be fulfilled feels the company .The impact will be the company. The impact will be high on JSM Steel as though the demand  is low right now , the weak quarters are going away and JSW expect it to rise in the second half .Demand will expectedly pick up and as Indian is a net importer of steel . a drop in supply will result in height in higher imports felt experts.     

 NML signs MOU to guide Essar Steel In several areas

National Metallurgical Laboratory (NML) has signed a memorandum of understanding (MOU) with Mumbai-based Essar Steel for carrying out collaborative work becoming the second steel company to use NML’s elaborate facilities. The MOU signed by NML director, Dr.S Srikanth and Essar Steel senior Vice-President ,A Das , covers a wide spectrum of areas such as mineral beneficiation ,iron and steel making ,corrosion engineering ,Alloy development of advanced high strength/special steels, component integrity etc.     

SAIL’s expansion to increase by 2012-2013

Steel Authority of India’s (SAIL’s) expansion to increase steel production capacity to 21.40 million tonnes per annum at an investment of RS 61,870 crore is expected to be completed by 2012-13. In a written reply to the Rajysabha, steel Minister Beni Prasad Verma, has reportedly said that SAIL’s crude steel production capacity would rise from 12.84 million tones per annum and hot metal production would go up from 13.82 million tonnes pre annum to 23.46 million tonnes per annum.       

Tata Steel to invest £ 800 m in Dutch plant over 5 years

Tata Steel will reportedly invest £800 million (RS-5,200 crore) at its Ijmuiden plant in the Netherlands over a five-year period. The Long-term investment is for an improvement programmer, which will focus on enhancing product quality and reducing costs. After the investment, the plant’s annual capacity will rise to 7.7 million liquid steel by 2015-16, from 7.2 million.