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India’s JSW Steel posts record 2023-24 output

  • Spanish Market: Metals
  • 09/04/24

Indian producer JSW Steel posted its highest annual crude steel output in the 2023-24 fiscal year ended 31 March, while its fourth-quarter production also increased.

JSW produced 26.4mn t across its India and US operations during 2023-24, up by 9.4pc from a year earlier, it said on 8 April.

India accounted for 97pc of its output, with domestic production rising by 8.2pc to 25.55mn t from the previous year. Production at JSW's US operations also rose by 63pc to 870,000t.

Domestic output during the January-March final quarter increased by 2.7pc to 6.54mn t. The company's capacity utilisation in India was 93pc for the quarter.

JSW aims to raise its capacity from around 29.7mn t/yr to 38.5mn t/yr in 2024-25. It last month commissioned a 5mn t/yr hot strip mill at its Vijayanagar steelworks in Karnataka state. It had also announced plans to add blast furnace capacity at its Dolvi plant in Maharashtra state.

By Amruta Khandekar

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15/12/25

EU’s post-safeguard steel measure set for 1 July start

EU’s post-safeguard steel measure set for 1 July start

London, 15 December (Argus) — The EU's new post-safeguard steel regulation is scheduled to take effect on 1 July, applying to imports from all third countries, as widely expected, according to the latest draft of the regulation. Only Norway, Iceland and Liechtenstein will be exempt under a European Economic Area agreement. The International Trade Committee plans to vote on the draft at the end of January, paving the way for inter-institutional negotiations early next year. Under the framework, importers will be required to provide evidence of the country where steel was melted and poured from 1 October 2026. Within two years of the regulation coming into force, the European Commission will also assess whether this "melt and pour" origin should become the basis for allocating tariff quotas by country. This could lead to a new legislative proposal, potentially reshaping quota distribution. The regulation indicates that quotas may be allocated on a per-country basis, factoring in 2013 import volumes, current and future free trade agreements, and previous allocations such as those applied to UK-origin material. There are also minor adjustments to CN codes under certain product categories, although these appear to have a limited effect. As previously reported , the measure will reintroduce the carry-over of unused quarterly quotas within the same annual period. These volumes will remain available for 20 working days into the following quarter. The first review of the measure will be fast-tracked, with the product scope assessment due 18 months after coming into force. The commission plans to launch consultations by 1 October 2026. A broader evaluation will follow four years after implementation, with subsequent reviews every two years. "The council has also added a new element for consideration when quotas are amended, ensuring attention to potential substantial price increases that could seriously undermine the competitiveness of downstream industries," the European Council said. The draft also said that the commission should assess the necessity of adding steel-intensive goods 18 months after the implementation of this regulation,. There is no mention of any ban on Russian steel in the current draft, as had been proposed in an earlier iteration. By Lora Stoyanova and Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU agrees recycled content for cars

12/12/25
12/12/25

EU agrees recycled content for cars

Brussels, 12 December (Argus) — The European Parliament and EU states have provisionally agreed on the end-of-life vehicles regulation. It will set mandatory targets for recycled content in new vehicles, phasing in 15pc recycled plastics content in 6 years and 25pc in 10 years. Targets for recycled steel and aluminium should also be established two years after the entry into force, after the European Commission undertakes feasibility studies. The regulation further stipulates that 20pc of the recycled plastics content targets will be achieved by plastics from end-of-life vehicles (ELVs) or from used parts and components. The provisional agreement still needs to be formally adopted over the coming months by majorities of EU states and also by the whole parliament. It will extend the regulation's provisions for collection, de-pollution and removal of parts, to all regular heavy-duty vehicles, motorcycles and both small and heavy-duty special purpose vehicles (SPVs). Danish environment minister Magnus Heunicke said the deal closes loopholes and "ensures valuable materials are kept within the EU economy, and curbs the export of polluting, non-roadworthy vehicles to third countries". Three years after entry into force, the regulation will establish a cross-border extended producer responsibility (EPR) scheme. Manufacturers will be financially and organisationally responsible for their vehicles over the entire lifecycle. And the new rules aim to better distinguish used from end-of-life vehicles (ELVs). Five years after entry into force of the regulation, exports of non-roadworthy used vehicles will be banned to in order to retain recycled materials within the EU. "This agreement sets realistic targets and minimises administrative requirements," said German centre-right EPP's Jens Gieseke MEP, parliament's lead negotiator from the environment committee. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Australia offers support to Rio Tinto’s Tomago Al plant

12/12/25
12/12/25

Australia offers support to Rio Tinto’s Tomago Al plant

Sydney, 12 December (Argus) — The Australian government has offered support to UK-Australian producer Rio Tinto to operate its 600,000 t/yr Tomago aluminium smelter beyond 2028 through a long-term power purchase agreement. Rio Tinto subsidiary Tomago Aluminium will work with Australia's federal and New South Wales (NSW) governments over coming months on an energy solution to support the 600,000 t/yr smelter from 2028, Australian prime minister Anthony Albanese said today. The deal will include a fixed-price power purchase agreement and a commitment from Tomago Aluminium to invest A$1bn ($670mn) into the plant over 10 years, he added. A long-term power purchasing agreement is in the interest of continued long-term investment into the industrial future of Tomago, Australia's minister of industry and innovation Tim Ayres said at a press conference. But Ayres declined to comment further on the specifics of the deal. Rio Tinto in October warned that it may need to close Tomago at the end of 2028 when its current electricity contract ends because of unsustainable energy costs. It had been looking for a new energy solution since 2022, but was not able to find one, it said at the time. The company began talks with NSW state and federal officials over energy cost support for Tomago in June. It has run the smelter normally over 2025. It produced 426,000t of aluminium on a 100pc basis at Tomago in January-September, down by 2.2pc on the year. Australia's support for Tomago comes one day after Tim Ayres defended the government's industrial policy record. Industrial policy is "a rational, pragmatic response to the acute challenges of this moment," he said at a speech to the Sydney Institute on 11 December. The government's support packages for the Whyalla steelworks , global producer Glencore's Queensland copper operations , and global producer Nyrstar's lead and zinc smelters were informed by its obligation to preserve and strengthen economic conditions for Australian workers, he added. The government may also offer support to another Rio Tinto aluminium smelter. Tasmanian state officials have called on the federal government to back the company's 190,000 t/yr Bell Bay aluminium smelter through low-carbon production subsidies in November. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU may crank up coal and steel research funds in 2027

11/12/25
11/12/25

EU may crank up coal and steel research funds in 2027

London, 11 December (Argus) — The European Commission could fund a much larger share of research in the coal and steel industry from 2027, according to a staff working document published yesterday. The EU Research Fund for Coal and Steel (RFCS) would fund 70pc of corporate research and 100pc of academic research into green initiatives if the EU moves forth with the proposal. It currently funds 50pc of both corporate and academic research projects, but has struggled to attract participants or meet its spending targets, noting that the "underspending of the project is rooted in a lack of attractiveness of certain aspects of the programme". RFCS spent 57pc of its €43mn ($50mn) budget for large coal projects and only 31pc of its €208mn budget for steel research from 2021 to 2024. Brussels, troubled by a lack of applications, consulted companies and academics this year and found that its spending requirements were the largest barrier. Most were unable or unwilling to fund 50pc of large research projects themselves. RFCS has supported a number of groups hoping to repurpose old coal mines for clean energy. GreenJOBS and Mine-TO-H2, two funding recipients, both plan on making green hydrogen from mine water, while GrEnMine received pilot funding worth €3.5mn to research new ways to store gravitational energy in abandoned mines. Others, such as REM and GI-mine, are working on new methods to capture methane from coal mines. In the steel sector, RFCS has awarded funds to hydrogen power projects such as ProSynteg and HYDREAMS and research groups such as BIOCODE, which hopes to replace up to 10pc of the coal in coke ovens with biomass. The EU dissolved the European Coal and Steel Community (ECSC) — an agency tasked with making a common European steel market, which eventually led to the creation of the EU — in 2002. The EU used revenues from ECSC assets to launch and fund the RFCS in the same year, and boosted the programme in 2021 by tapping into the assets themselves. By Austin Barnes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

ArcelorMittal to raise ferro-alloys surcharge on coil

11/12/25
11/12/25

ArcelorMittal to raise ferro-alloys surcharge on coil

London, 11 December (Argus) — Leading European steelmaker ArcelorMittal is increasing its ferro-alloy surcharge on flat carbon steel in response to cost rises since the imposition of a new safeguard on the materials. The increases vary depending on product, with bulk commodity volumes likely to see an uptick of just a few euros, while 10-15pc of the company's orderbook could see an additional surcharge of around €10/t. Speciality grades could see even steeper increases, up to €20-50/t for some products. Ferro-alloy prices have risen across the board since the imposition of a tariff-rate quota by the European Commission. Silicomanganese, with a manganese content of 65pc, increased by €175/t between 20 November and 9 December to a midpoint of €1,140/t, according to Argus assessments; over the same period ferro-silicon, with 75pc silicon content, jumped by €317.50/t to €1,525/t, while ferro-manganese increased by €167.50/t to a midpoint of €1,140/t. Some ferro-alloys, such as ferro-manganese, will also be in scope of CBAM, increasing the cost of importing further. Interestingly, some higher-gauge coil products have very steep default values compared with more commoditised grades. For grain-oriented silicon-electrical steel, for example, the default CBAM value is much higher for every country than their respective values for more commoditised steels. Japan, for example, has a default value for HS722511 and HS22611 grain-oriented electrical steel of over 5t, compared with just 2.31t for 7208 products; South Korea has a default value of over 5.85t for both of these products, compared with 2.33t for 7208 products. China, which accounts for most grain-oriented imports, has a default value on these products of almost 9t, compared with 3.82 for 7208 products. The high default value for steel using silicon appears to tie into particularly strong measures the EU is taking to protect its heavily pressured ferro-silicon industry from lower cost, more carbon intensive overseas competition. Under the safeguard measures implemented by the EU last month, ferro-silicon received the most extreme level of support, with its out of quota minimum price threshold set at €2,408/t cif Europe, more than double the spot market price prior to the safeguard's introduction. By Colin Richardson and Ronan Murphy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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