Machine Industries

Higher cost of funds denting steel industry’s capacity expansion: Kearney India’s steel industry had targeted a capacity of 180 to 190 MTPA by 2024–2025 and 300 MTPA by 2030. Prior to the Covid-19 outbreak, 10 MT of steel capacity was expected to come on board in the second half of this fiscal year. For India to create a globally competitive steel industry, global consultancy firm Kearney, formerly A T Kearney, has prescribed a wider and deeper government role. While it has flagged the need for a financial stimulus and suggested that the industry should seek concessional interest rate from the government...

Looking to decarbonize the metal industry, Bill Gates-backed Boston Metal raises $50 million   Image Credits: Getty Images under a license. Steel production accounts for roughly 8% of the emissions that contribute to global climate change. It is one of the industries that sits at the foundation of the modern economy and is one of the most resistant to decarbonization. As nations around the world race to reduce their environmental footprint and embrace more sustainable methods of production, finding a way to remove carbon from the metals business will be one of the most important contributions to that effort. One...

VCI Packaging Market Growth Driven by Surging Opportunities in Primary Metal Industry: Future Market Insights Market players are focusing on offering all VCI products and increase the product durability & life to decrease the impact of VCI on health. DUBAI, UAE / ACCESSWIRE / January 20, 2021 / The global VCI packaging market will expand at a CAGR of 6% over the assessment period 2019-2029. Growing demand from the primary industry due to escalating e-commerce, shipping, and consumer electronics sales is poised to spur the demand for VCI packaging. Although, the market witnessed a slump in demand on the onset...

Profiteering or Profitability? What domestic steel industry wants from price hike A variety of responses and feedback from end-using sectors, policy planners, industry associations are filling up the pages. Steel production through BF-BOF route uses iron ore of 1.65 tonne and coking coal of around 750 kg per tonne of steel. Steel pricing continues to occupy a centrepiece in the media for the last few weeks. A variety of responses and feedback from end-using sectors, policy planners, industry associations are filling up the pages. It is difficult to take a dispassionate view on the issue from the producers’ or users’ points...

ITAC introduces changes to steel industry prices In an effort to improve access to affordable scrap metal for the domestic steel and other metal producing industry, the International Trade Administration Commission (ITAC) has introduced changes to the Price Preference System (PPS). Image source: www.pexels.com This comes after the commission finalised an initial investigation into the supply of scrap metal as an input to the domestic steel producing industry.In a statement on Monday, 5 October, the commission, which is an agency of the Department of Trade and Industry (dtic), said the PPS was first introduced in 2013 to promote the affordable supply...