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Indian Steel Industry has been hit by Export Tariffs. Can India become a steel exporter now ? ...
21/05/2022

Indian Steel Industry has been hit by Export Tariffs. Can India become a steel exporter now ?



30/04/2022

Did you know that Ukraine is currently trying to break Russia’s siege of Mariupol and that fighting raged around the southern city’s Illich Steel and Iron Works and port?

Russia had taken full control of Mariupol’s Illich Steel and Iron Works and pledged more strikes on targets in Kyiv

Ukrainian defenders are mainly believed to be holding out in Azovstal, another huge steelwork

This marks a sad time for the Global Steel Business as Ukraine is a very big part of our Global Steel Family!

What do you think about this situation in Ukraine?

THINK STEEL | THINK VINVI


Do you know that British firms imported 3,700 MT of Russian steel since the start of the Ukraine war?The Govt introduced...
30/04/2022

Do you know that British firms imported 3,700 MT of Russian steel since the start of the Ukraine war?

The Govt introduced tough tariffs on Russian products on March 25, hitting them with an

additional tariff increase of 35 percentage points, over and above any existing tariff rate under the terms of the move

But legally they can still be brought to these shores.

UK companies have also bought 14,600 MT of rebar from Russia’s closest ally and neighbor, Belarus

However, it is unclear which firms are buying the Russian and Belarusian products - and potentially helping prop up the Moscow and Minsk regimes by pumping cash into their economies.

We believe proper transparency of origin is essential. All buyers should check where their materials are coming from and be happy with the complete supply chain they are using

The market also wonders whether construction companies or end users are aware of the provenance of the materials.

The Britain Government will immediately call on British companies to boycott Russian and Belorussian steel.

As they want the British companies to always seek to buy British steel as a matter of course, to support local communities, and to help meet environmental targets.

But choosing to buy specifically from Russia and Belarus is a gift to Vladimir Putin at a time when the UK should be seeking to freeze the country out of the world economy.

Worse still, it is an insult to the thousands of brave Ukrainians who have lost their lives in Putin’s barbaric war.

Sanctions are an important tool in the resistance to Russian aggression, and the UK steel industry is more than prepared to manufacture steel domestically.

The UK has taken swift action, including an unprecedented package of diplomatic and economic sanctions, to punish Putin for his barbaric actions in Ukraine.

This includes introducing a 35% additional duty on top of existing tariff measures for various goods from Russia and Belarus, including steel.

This will further isolate the Russian economy from global trade, and ensure it does not benefit from the rules-based international system it does not respect.

What do you think about the UK's move of buying Steel from Russia?





Do you know UK-based Tata Steel UK blast furnaces plants are using billions of microscopic bacteria to convert their emi...
30/04/2022

Do you know UK-based Tata Steel UK blast furnaces plants are using billions of microscopic bacteria to convert their emissions into stock materials?

These are done at the two Tata Steel UK Port Talbot ironmaking furnaces in Wales for other industries to make recycled products such as food packaging to animal feed

They are testing bubbles off-gases from the blast furnaces through sewage sludge, which contains a certain type of bacteria able to consume both carbon monoxide (CO) and carbon dioxide (CO2)

Result ~ High levels of carbon utilization, which can increase up to about 98%

The waste products from those bacteria include acetic acid and volatile fatty acids which can be used for a huge range of commercially viable end-uses such as paints, bioplastic polymers, or even animal feeds

A collaboration project between Tata Steel and the University of South Wales,

exploring how waste gasses from the steelmaking processes at Port Talbot can be harnessed and used to support other industries while reducing the amount of CO2 released.

While this has experimented with gases from blast furnaces, it can also be tried with iron and steelmaking technology that emits some carbon-based gases

Hence, this technology has the potential to reduce those emissions whichever technology route is eventually chosen.

What do you think about this move?


VINVI SHORTS: Do you know Romanian Automobile and Steel Companies are also hit by the war in Ukraine?The local automotiv...
30/04/2022

VINVI SHORTS: Do you know Romanian Automobile and Steel Companies are also hit by the war in Ukraine?

The local automotive industry and metallurgy are suffering a major impact in terms of output due to Russia's invasion of Ukraine

Minister Florin Spătaru set up a task force to address the effects of the conflict in Ukraine on certain industrial segments in Romania

The interruption of the flow of raw materials, in terms of both import and export, creates difficulties in the supply chains, which generates a major, multiplier impact on the production units in Romania

The transit of raw materials and products (import and export) to and from the Russian Federation, whether by air, land, or sea, is disrupted both in terms of the context of sanctions and the risk of conflict zones

What do you think about the future of Eastern European Steel Businesses?


Do you know that India has the biggest opportunity to emerge as a steel export hub?Indian steelmakers are pursuing aggre...
30/04/2022

Do you know that India has the biggest opportunity to emerge as a steel export hub?

Indian steelmakers are pursuing aggressive capacity expansion, expecting a surge in domestic demand with the infrastructure development and,

steel shortage in key international markets in the wake of the Russia-Ukraine conflict

They look to enhance the capacity by 70-100% in this decade as the Indian government's National Steel Policy estimates a domestic requirement of 300 MTPA by 2030

The new capacity creation is expected to require an investment of ₹7-₹8 lakh crore

India currently has 142 MnT of steel manufacturing capacity and has produced 118 MnT in 2021

The excess capacity and availability of iron ore are already turning Indian players aggressive in the international market

During the time of lockdowns, the steel majors had increased exports to maintain cash flow

For Example:
1. China exports 60 MnT of steel by importing iron ore and coal from other countries
2. Japan exports 30MnT
3. Korea also exports. They import raw materials to make steel and export

India also has a great similar opportunity here to become an exporter of steel because we have rich iron ore resources

Mills like:
1. Tata Steel is doubling its capacity to 40 MnT by 2030 with the expansion of its existing steelmaking facilities at Angul, Kalinganagar, and Jamshedpur worth ₹1 lakh crores
2. JSW Steel expands its capacity by 10 MnT every year to meet the incremental domestic demand. It plans to increase capacity to 45 MnT by 2030 from 27 MnT at present
3. SAIL will double capacity to 50 MnT by 2030
4. JSPL plans to raise total crude steel capacity to 15.9 MnT by March 2025 from 8.6 MnT

In addition, there is a huge demand for Indian steel in export markets that China has vacated

Indian steelmakers exported around 22 MnT for the full financial year

Post the US sanctions on Russia, leading Indian steel companies can capture market share in Europe and the Middle East if they enhance their capacity utilization levels

They could also pitch for a greater footprint in the US, where Russia and China are key suppliers

What do you think about India's Steel Future?


Do you know Chinese stainless steel futures opened 12% lower to hit the daily trading limit?Following Shanghai Futures E...
30/04/2022

Do you know Chinese stainless steel futures opened 12% lower to hit the daily trading limit?

Following Shanghai Futures Exchange halting some nickel trading and fuelled by worries of a backoff in the raw material prices

Trade was suspended of some nickel contracts for one day on March 9 to tame price volatility after it hit an upward trading limit three consecutive days

The recent surge in nickel prices was unconventional and hence derailed the fundamentals

Now that London Metal Exchange and Shanghai Futures Exchange have both halted nickel trading, investors would expect that the price for the ingredient is not going any higher

Stainless steel futures for April delivery hit a lower trading limit of 12% to CNY 19,700/MT ($3,116.84/MT) since the Wednesday night session and stalled on Thursday morning trade

Stainless steel will likely track nickel prices to come back within a reasonable range, but the market needs to be cautious about uncertainties amid the Ukraine-Russia crisis

Construction used steel rebar on the Shanghai exchange dipped 0.4% to CNY 4,926/MT

Hot-rolled coils fell 0.7% to CNY 5,126/MT and even the steelmaking raw materials on the Dalian Commodity Exchange all fell

Benchmark iron ore futures declined 2.5% to CNY 814/MT. Coking coal prices dropped 1.5% to CNY 3,058/MT and coke futures faded 1.3% to CNY 3,724/MT

What do you think about the Global Stainless Steel Industry?


Do you know China plans to raise its equity output of iron ore in overseas mines to 220 MnT by 2025 as well as increase ...
30/04/2022

Do you know China plans to raise its equity output of iron ore in overseas mines to 220 MnT by 2025 as well as increase domestic raw material supplies?

China aims to “fundamentally” solve the shortage issue in steelmaking ingredients in 10-15 years

This cornerstone plan was designed to secure steel resources in the medium- to long-term

It proposes raising China’s share of overseas iron ore production from 120 MnT in 2020 to 220 MnT by 2025

It aims to boost domestic iron ore output by 100 MnT to 370 MnT and steel scrap consumption by 70 MnT to 300 MnT over the same period.

The exploration of domestic iron ore raised in the cornerstone plan not only involves resources but also competitiveness

And some iron ore concentrate costs in China had been kept under $60/MT

The key is to relax approval and obtain policy supports

Current spot prices of iron ore with 62% iron content for delivery to China are at $139.5/MT levels

Chinese govt wants that the plan should be implemented by steel giants such as Baowu Steel Group, Ansteel Group, Shougang Group, as well as internationalized metals groups such as China Minmetals

China, the world’s top steel producer, consumes over a billion tonnes of iron ore a year, with more than 80% coming from imports

It has been encouraging companies to invest in iron ore mines at home and abroad to secure resources and gain pricing power.

The most-traded Dalian iron ore futures have gained 5% so far this year and stood at CNY 730/MT ($115.66/MT)

What do you think about the situation in the Chinese Steel Industry?


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VINVI

Based in Mumbai, India; #VINVI is a Steel Trading Company.

Veterans from Steel Industry came together to form a single most efficient Steel Trading company with sources from Korea, Indonesia, China for Raw Materials to supply Indian makers; and then supply further worked steel from Indian origin to the World.

The hold on raw material gives the advantage to control the High Superior Quality Steel right from the beginning.