Latest news with #NationalSteelPolicy2017
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Business Standard
29-05-2025
- Business
- Business Standard
Lloyds Metals hits 4-month high, rebounds 51% from March low; Time to buy?
Share price of Lloyds Metals & Energy today Shares of Lloyds Metals & Energy (LMEL) hit a four-month high of ₹1,427, as they rallied 5 per cent on the BSE in Thursday's intra-day trade. The stock price of industrial minerals company inched towards its all-time high of ₹1,477.50 touched on January 10, 2025. The market price of LMEL has bounced back 51 per cent from its March 2025 low of ₹943.25. In the past one year, the stock price of Lloyds Metals has more-than-doubled or zoomed 105 per cent, as compared to a 9 per cent rise in the BSE Sensex. Industry outlook The Indian iron ore market continues to be buoyant, defying the international market. The prices are very steady, and the demand on steel is running consistently at 8 per cent year-on-year and therefore, also on iron ore. The government's focus on steel capacity expansion has remained strong and multiple government initiatives have initiated the urgent need of scaling up of Greenfield iron ore mining as well as beneficiation. Company outlook As the second-largest steel producer globally, India faces growing demand from sectors such as construction, automotive and manufacturing. This demand is expected to continue rising, supported by abundant raw materials and affordable labor. India is poised to become the second-largest steel consumer globally, driven by growth in infrastructure and the automobile and railway sectors, LMEL said in its FY25 annual report. The National Steel Policy 2017 targets a production capacity of 300 million tons by FY 2030-31, with a focus on boosting steel consumption in rural areas. Government initiatives like the Pradhan Mantri Awas Yojana and the Gati Shakti Master Plan support sector growth. Urbanization and a shift towards sustainable construction materials are expected to drive long-term growth. India's steel demand is forecast to outpace other countries by 2025, with growth in engineering, packaging and industrial manufacturing sectors, the company said. The Indian Steel Association expects continued growth in steel demand, with sector consolidation attracting investments, creating opportunities for global players. The Production Linked Incentive (PLI) scheme is anticipated to boost specialty steel investments. While global steel demand is expected to grow modestly in 2025, India's growth is set to lead due to weak demand from major producers like China and Europe. Opportunities Rising Infrastructure and Industrial Expansion: Infrastructure investment in India has experienced significant growth, fuelled by both public and private sector contributions. Furthermore, the budget for 2025-26, aligned with the vision of Viksit Bharat by 2047, has allocated ₹ 11.21 trillion for the infrastructure sector. With increased investments in large-scale projects across both developing and developed economies, the need for these materials is expected to stay robust. Government Initiatives: The Indian government is offering robust policy support to boost industries like manufacturing and steel production, driving economic growth through incentives such as tax breaks, subsidies and infrastructure investments. In India, the government has introduced various measures to strengthen steel production, including the Domestically Manufactured Iron & Steel Products (DMI&SP) policy to promote 'Make in India' steel for government procurement and reducing Basic Customs Duty (BCD) on Ferro Nickel to zero. Additionally, it has extended duty exemptions on ferrous scrap until 2026 to support the domestic stainless steel industry and enhance competitiveness. Furthermore, India is expected to impose anti-dumping duties on few Chinese products, to protect domestic industries from underpriced imports, ensuring fair competition and safeguarding local producers. Import Potential: The global demand for premium iron ore and steel is anticipated to continue increasing, particularly in emerging economies like China, India and other developing nations. These markets are witnessing significant growth in infrastructure and industrial development, which in turn drives the demand for raw materials. This creates a rising opportunity for suppliers to tap into these expanding markets, boosting export growth especially for high-quality products. JM Financial Institutional Securities view on LMEL LMEL is poised to continue its volume-led growth trajectory with environmental clearance (EC) now expected in Q1FY26 from an initial expectation of Q4FY25. This EC will boost company's mining capacity from 10 mtpa to 55 mtpa. The company is enhancing its presence across the ferrous value chain by setting up a 45mtpa beneficiation facility, a 12mtpa pellet plant (in phases), 85km and 190km slurry pipelines, a 1.2mtpa wire rod facility and a 3mtpa carbon steel facility under phases. The company's strong focus on enhancing value by integrating steel manufacturing operations is expected to aid margins. Most of the projects remain on track with 360ktpa DRI plant taking slightly longer time than company's earlier estimates. The brokerage firm has a 'buy' rating on LEML with a target price of ₹ 1,610 per share. About Lloyds Metals & Energy LMEL works in iron ore mining, producing coal-based Direct Reduced Iron (DRI) or Sponge Iron and generating power. The Company is one of the largest coal-based DRI producers in Maharashtra, with a production capacity of 340,000 tonnes per annum (TPA) across two districts. LMEL operates a DRI plant in Ghugus, Chandrapur district, with a capacity of 270,000 TPA, alongside a 30 MW captive power plant. It also has a Greenfield plant in Konsari, Gadchiroli, with a production capacity of 70,000 tonnes per annum and a 4 MW captive power plant. The company is the only iron ore miner in Maharashtra, holding a 50-year mining lease for the Surjagarh village in Gadchiroli district, which has the largest reserve of high-grade iron ore in the state, valid until 2057. LMEL has permission to mine up to 10 metric tonnes per annum (MTPA) of iron ore and is seeking environmental clearance to increase the capacity of the Surjagarh iron ore mines (SIOM) from 10 MTPA to 55 MTPA (including BHQ). The company's strategic location gives it access to key markets across India. The Company is also setting up a 3 MTPA fully integrated steel plant in Konsari, Gadchiroli. Additionally, with the upcoming DRI facility and a 1.2 MTPA Wire Rod mill in Ghugus, the company aims to become an integrated steel producer by the fiscal year 2030-2031, with a total capacity of 4.2 MTPA.
Time of India
26-04-2025
- Business
- Time of India
Goyal urges steel industry to target 1 billion tonne capacity
The domestic steel industry will be the biggest beneficiary of India's growth story, commerce minister Piyush Goyal said on Friday, urging incumbents to build a billion tonnes of capacity. India is currently the second largest producer of steel in the world after China, with a production capacity of 180 million tonnes. The National Steel Policy 2017 aims a production capacity of 300 million tonnes in the country, while the target for 2047 is pegged at 500 million tonnes. "Clearly 500 million tonnes is a sub-optimal target," he said at an event in the city. "We should, I think, aspire at least to go up to the level of our nearest competitor, and why can't we aspire to be the world's largest manufacturer of steel by 2047?" Most large steel-makers in the country are aggressively expanding capacities. They have, though, highlighted the high imports coming into the country, which have not only impacted their realisations, but are also impacting their export markets. India is estimated to have imported 9.5 million tonnes of steel in 2024 - 25 (Apr-Mar), the highest in nearly nine years. Most of these are coming from China, sometimes routed through other countries with which India has a Free Trade Agreement.
Economic Times
25-04-2025
- Business
- Economic Times
Goyal urges steel industry to target 1 billion tonne capacity
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The domestic steel industry will be the biggest beneficiary of India's growth story, commerce minister Piyush Goyal said on Friday, urging incumbents to build a billion tonnes of is currently the second largest producer of steel in the world after China, with a production capacity of 180 million tonnes. The National Steel Policy 2017 aims a production capacity of 300 million tonnes in the country, while the target for 2047 is pegged at 500 million tonnes."Clearly 500 million tonnes is a sub-optimal target," he said at an event in the city. "We should, I think, aspire at least to go up to the level of our nearest competitor, and why can't we aspire to be the world's largest manufacturer of steel by 2047?"Most large steel-makers in the country are aggressively expanding capacities. They have, though, highlighted the high imports coming into the country, which have not only impacted their realisations, but are also impacting their export is estimated to have imported 9.5 million tonnes of steel in 2024 - 25 (Apr-Mar), the highest in nearly nine years. Most of these are coming from China, sometimes routed through other countries with which India has a Free Trade Agreement.
Time of India
25-04-2025
- Business
- Time of India
Goyal urges steel industry to target 1 billion tonne capacity
The domestic steel industry will be the biggest beneficiary of India's growth story, commerce minister Piyush Goyal said on Friday, urging incumbents to build a billion tonnes of capacity. #Pahalgam Terrorist Attack India pulled the plug on IWT when Pakistanis are fighting over water What makes this India-Pakistan standoff more dangerous than past ones The problem of Pakistan couldn't have come at a worse time for D-St India is currently the second largest producer of steel in the world after China, with a production capacity of 180 million tonnes. The National Steel Policy 2017 aims a production capacity of 300 million tonnes in the country, while the target for 2047 is pegged at 500 million tonnes. "Clearly 500 million tonnes is a sub-optimal target," he said at an event in the city. "We should, I think, aspire at least to go up to the level of our nearest competitor, and why can't we aspire to be the world's largest manufacturer of steel by 2047?" by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Most large steel-makers in the country are aggressively expanding capacities. They have, though, highlighted the high imports coming into the country, which have not only impacted their realisations, but are also impacting their export markets. India is estimated to have imported 9.5 million tonnes of steel in 2024 - 25 (Apr-Mar), the highest in nearly nine years. Most of these are coming from China, sometimes routed through other countries with which India has a Free Trade Agreement. Live Events
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Business Standard
25-04-2025
- Business
- Business Standard
Steel sector to play vital role in achieving $5 trn economy goal: Pradhan
Steel sector will play a vital role in economic growth, job creation and industrial development as the country aspire to become a $5-trillion economy, Union Education Minister Dharmendra Pradhan said on Friday. He also said that green steel is the priority of the government to turn industrial transformation into a competitive advantage and this transition is magnificent in progress. Pradhan, who held the portfolio of the Steel Ministry earlier, was speaking at the second day of the 6th edition of Steel India 2025 Conference and Exhibition, being hosted jointly by the Ministry of Steel and industry body Ficci here. "As India progresses towards becoming a $5-trillion economy, the steel sector will play a vital role in economic growth, job creation and industrial development. This is India's decade to showcase innovation and collaboration across sectors as we work to realize the vision of Vikasit Bharat," Pradhan said. The steel industry will set a global benchmark for sustainable and inclusive progress and this is a powerful signal of our growing Atmnirbharta and quest towards becoming responsible global power, he said. India's steel industry has mirrored the nation's broader economic development, the minister said adding it has evolved from modest beginning to becoming the second largest steel producer in the world, overtaking Japan in 2018. "Over the past decade, we have more than doubled our production capacity. Modernized steel plants improved our logistics and supply chains from 88 million tonnes in 2014 to over 144 million tonnes today," he said. India now contributes more than 7.5 per cent of global steel output, he noted. "The growth reflects India's commitment to modernization, self-reliance and sustainable industrial development. Steel is the spine of which the economy continues to flourish. India's industrial progress can be credited to the significant contribution of public sector companies as well as the private leaders," Pradhan emphasised. Stating that the states such as Odisha, Jharkhand, Chhattisgarh, West Bengal and Northern Andhra Pradesh are fast emerging as steel hubs, he said Odisha in particular is leveraging its resources and ports like Paradip and Dhamra to lead this industrial transformation. Through new plants, clusters and infrastructures, we aim to add 200 million tonnes of capacity in this region by 2031, ensuring balanced, inclusive and sustainable growth, he added. "Our growth trajectory is impressive, but sustaining this momentum requires strategic policy frameworks that balance industrial growth and national priorities," the minister remarked. He mentioned that the National Steel Policy 2017 has been a critical driver of the steel sector's growth and it has laid down ambitious targets including achieving a crude steel capacity of 300 million tonnes by 2031. The government is making decarbonisation a top national priority and taking decisive steps to enhance the environmental sustainability of the steel industry while it is believed that work is underway on a 15,000 crore green steel mission designed to support R&D, pilot projects and commercial adoption of clean technologies, he said. This includes integration with the National Green Hydrogen Mission to use green hydrogen as a clean fuel in steelmaking, he stated. " Our journey is not just about catching up but taking a quantum jump. The goal is to create a uniquely India model, sustainable industrialization and balance scale with statewardship, production with purpose," he said. Education is the bedrock of innovation and our research institutions are playing a leading role in driving the green transition, he said. Pradhan sounded optimistic that a culture of innovation and entrepreneurship will spawn the next generation of clean tech start-ups, process innovations that can be patented and exported globally. Today, India's steel industry stands at a crucial juncture, poised for significant growth with embracing sustainability, he said. India's green steel mission is still unfolding with vast scope for innovation, investment and impact. Large-scale infrastructure projects and government initiatives like Make in India, National Infrastructure Pipeline and the PM Gatishakti National Master Plan are driving demand and ensuring continued growth, Pradhan said. Strategic investments from both government and private sector are set to enhance productivity and competitiveness, enabling the steel industry to exceed the ambitious target by the National Steel Policy 2070, he stated. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
