IRON ORE PRODUCER
India garment makers rethink reliance on US after tariff shock
Many Indian companies are reconfiguring their export destinations, and their exposure to the US, in light of the tariff shock, in a move that is likely to strengthen New Delhi's hand in its trade negotiations with Washington, and potentially reduce India's vulnerability to US pressure over time.
India targets 300 million tonnes of steel production by 2030, 500 million tonnes by 2047: G Kishan Reddy
India's Union Minister G Kishan Reddy announced plans to boost steel production significantly by 2047. The goal is to reach 300 million tonnes by 2030 and 500 million tonnes by 2047. Steel is essential for construction, linking to the aspirations of people for housing. The government also aims to increase iron ore production and improve raw material availability for the steel industry.
Metals thrust, strong growth engines power Vedanta's stellar July-September
The metals-to-oil conglomerate's profit in Q2 was boosted by higher base metal prices. Vedanta attributed its robust Q2 show to higher commodity prices and favourable foreign exchange movements, among other things.
India’s steel future depends on breaking its costly coal habit
India plans to significantly increase its steelmaking capacity to support its development goals by 2047. The National Steel Policy proposes a shift from coal dependence to green hydrogen for production processes. This transition aims to reduce the vulnerability of steelmakers to volatile coking coal prices and enhance cost predictability. Moreover, the government is expected to promote long-term contracts for green steel to secure investments.
Vedanta Iron and Steel’s loss narrows on year in September quarter
In the September quarter, Vedanta Iron and Steel reported a consolidated loss of Rs 324 crore despite a decrease in expenses, which fell by more than 9% to Rs 3,129 crore due to various operational difficulties. The company produced 532,000 tonnes of steel, reflecting a year-on-year increase of 4%. This showcases a notable enhancement in financial metrics amidst persistent issues in the iron ore sector.
Why India's steel demand is defying global weakness
India’s steel prices are rising despite weak global markets, supported by infrastructure spending, manufacturing growth and higher input costs. While Chinese oversupply pressures international prices, robust domestic consumption and capacity utilisation underpin India’s outlook, with cheaper imports remaining a key risk.
- Go To Page 1
New draft steel policy targets 604 million tonnes capacity by 2047
India has unveiled a new draft national steel policy targeting 604 million tonnes capacity by 2047. The initiative also aims to increase exports to 45 million tonnes in two decades. Measures will focus on reducing carbon emissions and promoting technology indigenisation in steel production. Infrastructure development will be emphasized alongside research, safety, and workforce improvements.
ET Prime Special Series: Multibagger or Bankruptcy? Part 79: 5 years changed the size of this auto supplier. Will it pass the quality test?
The most striking number in this story is not a margin or a market-share target. It is a measure of scale. Revenue in the latest quarter was almost the same as full-year sales in FY21 and higher than the entire FY20 top line. It also argues that its current heavy-vehicle exposure is not under an immediate EV threat. For investors, the story is shifting from whether the company can grow to whether the additional capital can generate better returns.
Backward integration, captive power seen aiding profitability of secondary steel players
Secondary steelmakers in India are improving profitability by investing in captive power and backward integration, helping offset volatile raw material and energy costs, according to CRISIL. Operating margins are expected to rise to 6.6% this fiscal, with integrated players earning Rs 1,500-2,000 more EBITDA per tonne than non-integrated peers.
SAIL H1 hot metal output 10.2 MT, up 2% on year
Steel Authority of India Ltd has set a new benchmark with a record hot metal production of 10.2 million tonnes for the period of April to September 2026. The company also achieved significant figures in crude and finished steel production, totaling 9.6 million and 8.39 million tonnes respectively. Notably, high-end steel saw a remarkable production of around 2 million tonnes, while September marked the highest saleable steel sales at 1.
Steel Ministry asks SAIL, NMDC to scout overseas mineral assets for raw material security
The Steel Ministry has instructed state-run steelmakers SAIL and NMDC to explore overseas mineral assets. This effort aims to secure long-term raw material supplies necessary for steel production. Indian steelmakers currently rely heavily on imports for coking coal and limestone, which increases their costs. Diversifying mineral portfolios could also benefit NMDC as it seeks to enhance its revenue streams.
A-One Steels shares list at 14% premium over IPO price on BSE
A-One Steels shares made a strong debut, listing at a premium of up to 14% on the BSE and NSE. The Rs 405 crore IPO was subscribed 12.23 times overall, with the NII portion seeing the highest demand at 25.80 times. The offer was a book-built offering comprising a fresh issue of 87.65 lakh shares worth Rs 355 crore and an offer for sale (OFS) of 12.35 lakh shares aggregating to Rs 50 crore.
Essar-backed Mesabi Metallics to set up $15-billion steel plant in US
Mesabi Metallics will use iron ore for the Iowa plant from its mine in Minnesota, which was recently operationalised. The company has invested nearly $3 billion in this iron ore mine at Nashwauk in the state, which is the first new mine in Minnesota in five decades. This combined $18 billion investment is the largest single-location investment for steel in the country.
From India to Iowa: Ruias return to steel with an ambitious $18 billion US bet
Ruias are planning a new steel venture in Iowa. This project involves a $15 billion steel plant, aiming to produce 10 million tonnes annually. Financing has already been secured for the Minnesota iron-ore mine, which is integral to the operation. The plant is expected to create about 1,750 permanent jobs alongside thousands of construction jobs.
Essar to invest $18 billion in US, build America's largest steel plant in Iowa
Essar Group, through its subsidiary Mesabi Metallics, plans to invest USD 18 billion for a steel plant in Iowa. The facility aims to produce 10 million tonnes of steel annually and will utilize iron ore from Minnesota. It is expected to create 6,000 construction jobs and 2,000 permanent employment opportunities. The investment is part of a broader focus on enhancing domestic manufacturing capabilities in the United States.
A-One Steels IPO Day 3: Issue subscribed 11 times; GMP at 14%. Check key details
A-One Steels IPO has received significant interest from investors, oversubscribing 11.61 times overall. The retail portion was subscribed 1.76 times, indicating strong demand among individual investors. The IPO offers a price band of Rs 385 to Rs 405 per share, with a minimum investment of Rs 14,985. Financial performance showed an 18% increase in total income and a remarkable rise in profit after tax.
A-One Steels IPO subscribed 55% on Day 1; GMP signals 12% listing premium. Check price band, lot size and key details
A-One Steels IPO opened for subscription on September 24 and received moderate interest from investors. The issue is expected to remain open until September 28, 2026, with shares listing anticipated on October 1, 2026. The company aims to raise Rs 405 crore and plans to allocate proceeds primarily for debt repayment. A-One Steels has reported significant financial growth, including an 18% rise in total income this year.
India's first mineral exchange may be operationalised by next fiscal: Official
The government plans to operationalise India’s first mineral exchange by the next financial year, aiming to enable transparent trading and market-based price discovery. The move comes as the mining sector expands, with mineral production rising to ₹1.86 lakh crore in FY26.
Steel prices at 4-year high; trend to continue in H2: Report
Domestic steel prices have reached a four-year high, driven by costlier raw materials. Hot rolled and cold rolled coil prices have significantly increased since early August. This price surge is mainly due to rising coking coal and iron ore prices. Steel consumption in India has shown a seven percent year-on-year rise. Prices are expected to remain elevated through the fiscal year due to strong demand.
Stocks in news: RVNL, Lenskart, Mazagon Dock, Maruti Suzuki India and Nestle India
Indian equities concluded Friday's session with marginal gains, supported by softer crude prices. Several companies like RVNL and Mazagon Dock are expected to be in focus on Monday. RVNL secured a significant order from East Coast Railway for railway line works. Mazagon Dock plans a substantial investment in a new shipyard project. Lenskart Solutions is anticipated to see a large block deal transaction.
Coal India Limited announces ambitious Business Development portfolio for diversification beyond mining
Coal India Limited announced its ambitious business development portfolio on Sunday. This plan focuses on five key platforms for future expansion and growth. Initiatives include coal gasification, thermal power, and renewable energy ventures. The company will also explore critical minerals and advanced materials. This diversification aims for energy and mineral security and import substitution.
NMDC looks to hit 60 MT iron ore production mark this fiscal: Chairman
NMDC targets sixty million tonnes iron ore production this fiscal year. The company plans to reach one hundred million tonnes by twenty thirty-one. Environmental clearances are being sought for new iron ore deposits. Commercial thermal coal production will begin in the October-December period. NMDC aims for twenty percent revenue from other minerals by twenty thirty.
NMDC sets Net Zero target for operational emissions by 2047
NMDC plans net zero operational emissions by 2047, focusing on scope-one and scope-two emissions. Key strategies include energy efficiency and renewable energy integration for decarbonisation. The company will progressively implement measures across three distinct phases until 2047. NMDC aims for a minimum ninety percent reduction in operational emissions through its pathway. Remaining emissions will be addressed through offsetting measures as the roadmap progresses.
Motilal Oswal sees surging steel prices to offset cost inflation for metal majors. Here are its top stock picks
Motilal Oswal expects firm steel prices, lean inventories and resilient demand to support a shift toward pricing- and cost-led earnings growth for domestic steelmakers. The brokerage sees stronger realisations ahead and favours companies with cost advantages and raw-material access, naming JSW Steel and Tata Steel as its top picks.
NMDC recovers 27.29-carat diamond at Panna site, its second-largest yet
NMDC Panna has recovered a significant 27.29-carat gem-quality diamond. This discovery marks the second-largest diamond ever found at the Panna mine. The find follows a 13.16-carat diamond recovered earlier in July. NMDC operates India's only mechanized diamond mine in Panna, Madhya Pradesh. The company is also India's largest iron ore producer.
NMDC recovers 27.29 carat gem diamond from Panna
Based on its colour, carat weight,and clarity (CCC), and add one S-Shape ,the newly recovered 27.29-carat diamond is initially estimated to be valued at around Rs 1 crore. The final value will be determined through the prescribed evaluation and auction process, the company said.
Indian steel industry creating new opportunities for ferro-alloy sector: IFAPA
As India's steel sector expands, local ferro-alloys producers find exciting prospects ahead. The industry emphasizes the need for secure access to raw materials and competitive input costs to fuel growth. Prioritizing quicker exploration of domestic mineral resources is vital, alongside negotiating for zero import duties on select raw materials to cater to increasing domestic and international steel demands.
NMDC increases high-grade iron ore prices by Rs 150/tonne
State-owned NMDC has raised its high-grade iron ore price by Rs 150 per tonne. The company fixed the lump ore price at Rs 5,400 per tonne, effective immediately. No changes were made to the rate of iron ore fines by NMDC. Monsoon disruptions have reduced India's iron ore production and availability. This tightening supply and improving steel sentiment supported the price increase.
NMDC to start commercial coal production next quarter; eyes 1 MT dry fuel sale in FY27: Chairman
State-owned NMDC plans to begin commercial thermal coal production at its Tokisud North mine in Jharkhand during the October-December quarter and sell up to 1 MT in FY27. The iron ore major also plans to develop a coking coal mine, aiming to derive 20% of revenue from non-iron ore minerals by 2030.
Load More
