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<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6 per cent in January, on account of poor performance of sectors like <keyword id="819180" type="General" weightage="20" keywordseo="refinery-products" source="Orion">refinery products</keyword>, <keyword id="50549" type="General" weightage="20" keywordseo="fertiliser" source="Orion">fertiliser</keyword>, <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">steel</keyword> and <keyword id="44578" type="General" weightage="20" keywordseo="electricity" source="Orion">electricity</keyword>, according to the official data released on Thursday. The growth of eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.9 per cent in December. It was 9.7 per cent in January 2023. The previous low level of growth rate was recorded at 0.9 per cent in October 2022. Cumulatively also, the growth rate in the output of these sectors slowed down to 7.7 per cent as against 8.3 per cent in April-January 2022-23. The output growth of refinery products and fertiliser was in the negative zone. And the pace of increase in the output of coal, steel, and electricity decelerated during the month under review. However, crude oil, natural gas, and cement production recorded positive growth in January. The eight core sectors contribute 40.27 per cent to the country's Index of Industrial Production (IIP).

Key infra sectors' growth slows to 15-month low of 3.6% in January

New Delhi, India has registered a 4.1 per cent growth in its crude <keyword id="113521" type="General" weightage="20" keywordseo="steel-production" source="Orion">steel production</keyword> at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">Steel</keyword> Association (worldsteel). Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with 90.1 MT crude steel production, worldsteel data showed. India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report. Japan's output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually. Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Turkiye 2.9 MT and Iran produced 3.3 MT in May 2023. Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country. It represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85 per cent of <keyword id="279841" type="General" weightage="20" keywordseo="global-steel" source="Orion">global steel</keyword> production.

Global steel production falls 5.1% in and India's output rises 4.1% in May 2023

Ranchi, <keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> sees enough growth opportunities within its existing facilities to actualise an expansion plan to achieve 40 million tonne capacity in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> by 2030, almost double of its current capability in the country, CEO and Managing Director <keyword id="1441007" type="General" weightage="50" keywordseo="t-v-narendran" source="Orion">T V Narendran</keyword> said. The steel giant will continue to hold talks with the UK government over a financial package for operations there, he said. The company has planned capital expenditure to the tune of Rs 12,000 crore for India operations, he said. "In India, basically we want to increase the capacity. We have already around 21 MT. It will be 25 MT soon because the Kalinganagar expansion is going on. We have a few more plans - Neelachal, Kalinganagar and Meramandali or Angul to achieve 40 million tonne capacity by 2030," <keyword id="347545" type="General" weightage="80" keywordseo="narendran" source="Orion">Narendran</keyword> told PTI in an interview here. There are multiple ongoing projects at various locations in India and the company has "prioritised completion of the 5 MTPA Kalinganagar expansion", he said. The company is in the process of expanding its plant capacity in Odisha's Kalinganagar to 8 MT from 3 MT. "Within nine months of acquisition, we have successfully ramped up (the capacity of) Neelachal Ispat Nigam Ltd to one million tonne on annualised basis," he said. The steel company, through its wholly-owned subsidiary <keyword id="13070787" type="General" weightage="50" keywordseo="tata-steel-long-products-ltd" source="Orion">Tata Steel Long Products Ltd</keyword>, had completed the acquisition of Odisha-based one million tonne per annum steel mill NINL for a consideration of Rs 12,100 crore in July 2022. On capacity expansion, he said, "Basically the capex (capital expenditure) which you see is Rs 12,000 crore in India. It will be at that level for the next three years at least." In reply to a query, he categorically said that the entire growth plan is based on "organic" expansion, and there is no plan for any "inorganic" growth in the near future. "Within our facilities, we have enough opportunities. We don't need to acquire anything to achieve our growth aspiration," he said. Speaking on the steel major's UK operations, he said there was "status quo" but the company will continue to pursue talks. "On UK operations, there is no further development. We had conversations a couple of months back. They had given us an offer which is below or lower than what we had sought. After that, there is no further development. We will continue to have conversations with them," Narendran said. Tata Steel has sought a financial package of 1.5 billion pounds from the UK government to execute decarbonisation plans at its Port Talbot facility in South Wales under which it will install new plant machinery with low-emission technologies for replacing two blast furnaces, which are nearing the end of life in 12-24 months, and bringing down the carbon footprint. Asked about the future course on projects there, he said it would depend on the outcomes of the dialogue and the financial support from the UK government. The steel major owns a 5-MT facility at Port Talbot, which is the UK's largest steelworks employing around 8,000 people. "Our route and pace of decarbonisation across geographies will be calibrated for each location based on the local regulatory framework, government support and willingness of customers to pay for higher-cost green steel," he said. Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonne. The group recorded a consolidated turnover of USD 30.3 billion in the financial year ending March 31, 2023. <keyword id="4252143" type="General" weightage="50" keywordseo="tata-steel-limited" source="Orion">Tata Steel Limited</keyword>, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/govt-to-roll-out-lost-mobile-blocking-tracking-system-pan-india-on-may-17/articleshow/100224875.cms">Govt to roll out lost mobile blocking, tracking system pan-India on May 17</a> <a href="https://www.businessinsider.in/stock-market/markets/news/fpi-bought-equity-worth-rs-18617-crore-in-may/articleshow/100225129.cms">FPI bought equity worth ₹18,617 crore in May</a> <a href="https://www.businessinsider.in/business/telecom/news/pm-modi-wants-us-to-start-building-rd-around-6g-technology-cisco-coo/articleshow/100224961.cms">PM Modi wants us to start building R&amp;D around 6G technology: Cisco COO</a>

Enough growth opportunities within facilities to take capacity to 40 MT in India: Tata Steel CEO

India's eight core industries recorded a growth of 7.4 per cent in December (2022) against 4.1 per cent recorded in the same month last year, according to official data released by the <keyword id="527366" type="General" weightage="20" keywordseo="Ministry-of-Commerce-Industry" source="Orion">Ministry of Commerce &amp; Industry</keyword> on Tuesday. The number stood at 5.4 per cent in November, 2022. "The production of coal, electricity, steel, cement, fertilizers, refinery products and natural gas increased in December 2022 over the corresponding month of last year," stated the release. The <keyword id="16313496" type="General" weightage="20" keywordseo="production-of-crude-oil-declined" source="Orion">production of crude oil declined</keyword> by 1.2 per cent in December, 2022. The cumulative growth rate of ICI during April-December 2022 was 8.0 per cent (provisional) as compared to the corresponding period of last year. The Index of Core Industries measures combined and individual performance of production in selected eight core industries viz. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the <keyword id="124816" type="General" weightage="20" keywordseo="Index-of-Industrial-Production" source="Orion">Index of Industrial Production</keyword> (IIP). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-start-ups-are-looking-at-reverse-flipping-says-economic-survey/articleshow/97495048.cms">Indian start-ups are looking at reverse flipping says Economic Survey</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/in-a-major-clean-up-drive-bmc-sacks-55-staffers-for-corruption-suspends-134-for-graft-crimes/articleshow/97491919.cms">In a major clean-up drive, BMC sacks 55 staffers for corruption, suspends 134 for graft, crimes</a>

India's core sector output rises by 7.4 per cent in December

The growth rate in the production of eight key sectors slowed down to 0.1 per cent in October against 8.7 per cent in the same month last year, according to the official data released on Wednesday. In September, the core sectors' <keyword id="390955" type="General" weightage="20" keywordseo="output-growth" source="Orion">output growth</keyword> stood at 7.8 per cent. The production growth of eight <keyword id="17408" type="General" weightage="20" keywordseo="infrastructure" source="Orion">infrastructure</keyword> sectors -- coal, <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword>, natural gas, <keyword id="819180" type="General" weightage="20" keywordseo="refinery-products" source="Orion">refinery products</keyword>, <keyword id="50549" type="General" weightage="20" keywordseo="fertiliser" source="Orion">fertiliser</keyword>, steel, cement and electricity -- was 8.2 per cent during April-October this fiscal, compared to 15.6 per cent a year ago. In October, crude oil, natural gas, refinery products, and cement output recorded a negative growth rate. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/former-flipkart-svps-online-shopping-platform-flash-raises-5-8-million-in-seed-round/articleshow/95884631.cms">Former Flipkart SVP's online shopping platform Flash raises $5.8 million in seed round</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-capital-committee-of-creditor-rejects-all-bids-considering-liquidation/articleshow/95886247.cms">Reliance Capital Committee of Creditor rejects all bids, considering liquidation</a>

Core sector output growth slows to 0.1% as 4 sectors report negative growth rate

<ul><li>Metal company stocks were rallying up to 5% today on rising prices of the commodity after crude oil prices hit a two-month high.</li><li>Analysts say rise in input cost due to high crude oil prices and low production capacity at sites have increased the prices of metals, which is good for the company.</li><li>Nifty Metal is the top gainer among sectoral index with 2.6% gains.</li></ul>While the outlook for <a href="https://www.businessinsider.in/business/corporates/news/hindalco-is-a-better-bet-than-tata-steel-because-electric-vehicles-need-aluminium/articleshow/88827641.cms">steel makers remains</a> cloudy, the weakening of the dollar is propping up commodity prices including metals as well as crude oil. When the dollar weakens, the same amount of any commodity costs more in terms of dollars. Therefore, prices increase. And, the stocks of metal companies are mirroring that optimism. Nifty Metal is the top gainer among sectoral index with 2.6% gains. Metal prices are said to be rising because of high crude oil prices and lower production with companies, which is boosting the prices upwards. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metal companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 13 change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel &amp;Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NMDC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Copper </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SAIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedanta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">APL Apollo Tubes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1% </td></tr></tbody></table>(Prices as at 1 p.m) Relation between metal prices and crude oil prices “There are reasons for the rise. One is that metals stocks are always linked to crude oil prices and, right now, they have jumped $84 per barrel, which is probably at a recent high. Usually when crude prices go up, base commodity prices also go up, which is a good thing for metal companies,” said Deven R Choksey, managing director at KR Choksey Investment Managers told Business Insider. Currently, the crude oil prices are at $85 per barrel, trading at a 2-month high after the US oil inventory fell for the seventh straight week to levels last seen in 2018. Note that crude oil is a basic input in the production process and is used to fuel cars and planes for transportation and generate electricity for use in production of goods and services. So any change in the price of oil will impact the costs for the company and hence increase the product price. Another reason for the rise in metal prices is that companies had cut down production in recent weeks because they thought the demand wasn’t strong enough. “Anywhere across the globe particularly Europe production capacities at being pared, they (companies) are not increasing the production be it because of environment issues or covid related restrictions. Many companies have been keeping their production capacity at a lower level, which is resulting in higher prices of the product due to shortage of supply,” added Choksey. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-shareholders-cheer-share-buyback-and-strong-growth/articleshow/88867953.cms">TCS shareholders cheer share buyback and strong growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-slips-6-on-disappointment-over-poor-than-expected-earnings-performance/articleshow/88870822.cms">Wipro slips 6% on disappointment over poor than expected earnings performance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-will-deliver-stuff-on-tvs-motors-electric-scooters-following-footsteps-of-zomato-amazon-and-flipkart/articleshow/88872404.cms">Swiggy will deliver stuff on TVS Motors’ electric scooters</a>

Metals are mirroring the rally in crude oil and the recent output cuts are helping

New Delhi, Mar 1 () India's crude steel production registered a decline of 3.26 per cent to 9.288 million tonnes (MT) in January this year, according to World Steel Association (worldsteel). The country had produced 9.591 MT of crude steel during the corresponding month last year, the global industry body said in its latest report. Crude steel production for the 64 countries reporting to the association was 154.4 million tonnes (MT) in January 2020, a 2.1 per cent increase compared to January 2019, the report said. The world's largest steel producing country, China, reported a crude steel output of 84.3 MT in January, an increase of 7.2 per cent compared to the year-ago period. Japan produced 8.2 MT of crude steel in the period under consideration, down 1.3 per cent from January 2019. South Korea's crude steel production was 5.8 MT in January 2020, a decrease of eight per cent from the corresponding period last year, the report noted. Members of worldsteel represent approximately 85 per cent of the world's steel production, including over 160 steel producers with 9 of the 10 largest steel companies, national and regional steel industry associations, and steel research institutes. SID DRR

India's crude steel production drops 3 pc to 9.3 MT in Jan: Report

New Delhi, Mar 11 () JSW Steel on Wednesday said it has registered a growth of 5 per cent in crude steel production at 1.320 MT in February 2020.The company had produced 1.257 million tonne (MT) crude steel during the same period last year, it said in a filing to the BSE. The output of flat rolled products also rose 7 per cent to 0.982 MT from 0.920 MT in the year-ago month. The output of long rolled products was flat at 0.308 MT last month. JSW Steel, the flagship company of the diversified USD 14 billion JSW Group, has a leading presence in sectors such as steel, energy, infrastructure, cement, sports, among others. SID SID ANUANU

You Searched For "crude steel production" and got 8 results

Key infra sectors' growth slows to 15-month low of 3.6% in January

PTI

Global steel production falls 5.1% in and India's output rises 4.1% in May 2023

PTI

Enough growth opportunities within facilities to take capacity to 40 MT in India: Tata Steel CEO

PTI

India's core sector output rises by 7.4 per cent in December

ANI

Core sector output growth slows to 0.1% as 4 sectors report negative growth rate

PTI

Metals are mirroring the rally in crude oil and the recent output cuts are helping

Bhakti Makwana

India's crude steel production drops 3 pc to 9.3 MT in Jan: Report

PTI

JSW Steel crude steel output grows 5 pc in Feb

PTI

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