Editor's Note

Dear Readers,

The Government of India’s ‘Atmanirbhar Bharat Scheme’ is continuously encouraging the manufacturing sectors that are extensively import dependent. The steel industry is no exception to this. The highlights of import of electrical steel and alloy & stainless steel have been provided here.

Iron & Steel Review’s May newsletter provides a sketch of the domestic steel industry’s performance during March 2021.

Domestic steelmaker JSW Steel has reported the highest-ever consolidated PAT during the fourth quarter of FY’21. The May newsletter shares some details of the report.

In another instance, the leading plant supplier SMS group has some fresh updates. Read the newsletter to know more.

 

Santosh Mahanti, Editor & CMD

CONTENTS


Atmanirbhar Bharat and Import of Steel Products

The Government of India proposed the ‘Atmanirbhar Bharat Scheme’ in May 2020. The scheme aims at becoming self-reliant for India’s needs for various products and thus reduces dependence on imports. The aim is to develop the necessary know-how and expertise to produce in India, the products which are now being imported. Subsequently, the government announced the ‘Production Linked Incentive’ (PLI) scheme to encourage companies to take up the production of such products. Among steel products, the import of electrical steel and alloy & stainless steel together account for more than 50% of total finished steel imports in value terms (52.45% in FY’21).

Iron & Steel Review’s May issue features an article by N. M. Rao, Consultant (I&S), Visakhapatnam, who talks elaborately about the imports of these two product categories.

 

                                                                                                                                                                     Read more…


Iron & Steel summary for March 2021

During the fiscal year 2020-21, production, both of crude and finished steel, as well as consumption of steel, declined during the first half (H1 2020-21) vis-à-vis their performance in the corresponding period last year (CPLY) i.e., H1 2019-20 due to the COVID-19 pandemic and the lockdown necessitated to contain its spread.

Production & consumption scenario

Crude steel output recorded an increase of 5.6% in March 2021 over February 2021. During the month under review, consumption of finished steel declined by 5.7%, while production of finished steel rose by 3.9% over that in February 2021.

Export-import scenario

During March 2021, export and import grew by 97.4% and 8.9%, respectively, over February 2021. India was a net exporter of finished steel during the fiscal year 2020-21.

                                                                                                                               Click here to access the full report



JSW Steel posts the highest-ever consolidated PAT in Q4 FY’21

JSW Steel has reported a 1,717% year-on-year (YoY) growth in its consolidated Profit After Tax (PAT) at Rs. 4,191 crores during the fourth quarter (Q4) of FY 2020-21. This is the highest-ever quarterly net profit posted by the company.

During the quarter under review, the steelmaker’s revenue from operations stood at Rs. 26,934 crores, up by 51% YoY. The operating EBITDA for the March quarter was at Rs. 8,440 crores.

On a standalone basis, JSW Steel produced 4.19 Million Tonnes (MT) of crude steel in Q4 FY’21, registering an increase of 6% YoY. Standalone saleable steel sales for the March quarter grew by 10% YoY to 4.06 MT.

The exceptional Q4 performance by the company was due to strong domestic demand for steel, which was supplemented by export and improved steel prices.


MMK rolls the first coil on the two-stand CCM® modernised by SMS group

Russian steel producer Magnitogorsk Iron & Steel Works (MMK) has successfully rolled the first coil on the two-stand Compact Cold Mill (CCM®) from SMS group after a reconstruction time of only twelve months. The new CCM® now features actuators and measuring systems of the latest state-of-the-art.

Both on the entry and exit side of the CCM®, a new reversing reel was installed. While the existing mill housings were reused, key mechanical and actuating equipment was renewed.

The bearings of the back-up rolls were converted to anti-friction design. To this end, the chocks of the back-up rolls and the oil/air lubrication system were completely renewed. In addition, further essential actuating systems were completely renewed: the cylinders of the hydraulic roll adjustment system, the cylinders and the bending block cassettes of the work roll bending system, the CVC®plus (Continuously Variable Crown) work roll shifting system and the wedge adjustment system for the passline control.

For the mechanical drives of the stands, SMS supplied new gearboxes, brakes and drive spindles, complete with new spindle head supports.

All valve stands for the high and low-pressure systems were replaced. Even a new mill stand platform and new piping in the proven AIO (All In One) design were installed. The emulsion system was equipped with new filter units to assure consistent emulsion quality and excellent cleanness of the strip surface.

The scope of mechanical supplies was completed by new Dry Strip systems, installed at both rolling stands for the removal of emulsion residues from the strip surface, and roll shop equipment.

The two-stand four-high CCM® supplied by SMS has been in operation since 2002.

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