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Hindustan Zinc is partnering with Group Nirmal to build a new zinc wire manufacturing facility in Rajasthan. This unit will produce high-grade zinc wire for key industries like infrastructure and automotive. The collaboration aims to boost domestic zinc manufacturing and support high-value industrial applications. View More

New Delhi: Vedanta group firm Hindustan Zinc Ltd on Tuesday said it has collaborated with Group Nirmal to set up a zinc wire manufacturing unit in Rajasthan. Hindustan Zinc has signed a Memorandum of Understanding (MoU) with Group Nirmal to set up a zinc wire manufacturing facility at the company's Zinc Industrial Park in Bhilwara district of Rajasthan, the company said in a regulatory filing. The development further strengthens Hindustan Zinc's long-term vision of building a robust downstream zinc manufacturing ecosystem in the domestic market focused on high-value industrial applications, said a company statement. Also read | CIL's April coal auction quantity drops 6% vs March to 30.5 MT Under the pact, Group Nirmal will manufacture zinc wire products using Hindustan Zinc's special high-grade zinc, catering to sectors such as infrastructure, renewable energy, automotive and industrial engineering, the statement added. Live Events Group Nirmal is a major manufacturer of steel, aluminium and zinc wires. Zinc wire is a critical input material for thermal spray coating and metallising processes, where it is melted and sprayed onto steel surfaces to form a protective zinc coating. This process provides durable anti-corrosion protection to steel structures and critical assets, including bridges, transmission towers, railways, ports, pipelines and industrial installations. These coatings significantly enhance structural longevity, improve operational reliability and reduce life-cycle maintenance requirements, making them an increasingly preferred solution for sustainable infrastructure protection. Also read | Nalco's alumina exports to West Asia affected due to geopolitical tensions, says CMD Hindustan Zinc Ltd is the world's largest integrated zinc producer and is amongst the top 10 silver producers globally. The company supplies to more than 40 countries and holds about 74 per cent market share in the primary zinc market in India. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Magnus Steel and Infra has secured a significant role as an approved steel supplier for Tata Motors' upcoming manufacturing facilities in Gujarat and Maharashtra. The company has already begun supplying materials through RIECO Industries Ltd. Future orders are anticipated, with an estimated engagement size of Rs 32.50 crore. View More

Magnus Steel and Infra on Monday said it has been empanelled as an approved steel supplier for the upcoming automobile manufacturing projects of Tata Motors in Gujarat and Maharashtra. The company has already commenced supplies through RIECO Industries Ltd, the project contractor for the facilities, and has received multiple purchase orders for the supply of steel products to support construction and infrastructure development at the project sites, a statement said. Magnus Steel and Infra Ltd expects an additional order pipeline of nearly Rs 24 crore to be released in multiple phases during FY27 based on the progress of construction activities, taking the total estimated engagement size to around Rs 32.50 crore, it said. The company's Managing Director, Karronn Naresh Bajaj, said, "Our engagement in projects linked to Tata Motors marks an important milestone for the company and reflects the progress we have made in strengthening our industrial supply capabilities." PTI IAS MR .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The primary drag on domestic output was a planned shutdown of Blast Furnace 3 (BF3) at the company’s Vijayanagar plant in Karnataka for capacity upgradation View More

German conglomerate Thyssenkrupp has lowered its 2026 sales forecast. This move comes as demand weakens in its steel and automotive sectors. The company now anticipates sales to decline by up to 3%. This reflects broader economic slowdowns across Europe. Thyssenkrupp is currently restructuring its business operations. View More

FRANKFURT, - German conglomerate Thyssenkrupp cut its 2026 sales outlook on Tuesday, citing lower demand at its steel and ‌automotive ⁠division in ⁠a sign of muted economic activity across Europe. "We remain slightly cautious ... in respect of our ​sales forecast, not least because of heightened geopolitical uncertainties and their impacts on the international ​markets," finance chief Axel ⁠Hamann said ‌in a statement. The company ​now expects ​sales to fall by ⁠up to 3% and to remain flat at ​best, having previously expected a ​range of -2% to +1%. Analysts in an LSEG poll expected sales to fall by 1%. Thyssenkrupp, which is in the process of divesting all its divisions in ‌an attempt to turn into a holding structure, said demand for ​steel ​remained "persistently weak". Thyssenkrupp's ⁠steel unit is in focus after talks to sell it to India's Jindal Steel International fell apart this month, the latest failed attempt to divest the business, highlighting the structural challenges around industrial activity in Europe . .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Start-ups such as Cumin Co. and Ember Cookware are emerging as early beneficiaries of the trend, as consumers become more conscious about chemical coatings, microplastics and long-term cookware safety. View More

The company has already commenced supplies through RIECO Industries, the project contractor for the facilities View More

Coal India Limited offered 30.5 million tonnes of coal in April auctions. This marks a slight decrease from March. Global energy prices are high due to West Asia tensions. Power plants are increasing coal use for energy security. Coal India is also allowing buyers from Bangladesh, Bhutan, and Nepal to participate directly in auctions from January 1, 2026. View More

New Delhi, State-owned CIL , the country's largest coal producer, offered 30.5 million tonnes (MT) of coal through online auctions in April, marking a 6 per cent decline from 32.5 MT in March. The dip comes against the backdrop of ongoing geopolitical tensions in West Asia, a key oil-producing region, which have spiked global energy prices and prompted power plants to ramp up coal usage for energy security. According to the provision data of Coal India Ltd (CIL), of the total coal on offer by the PSU in April, Mahanadi Coalfields Ltd (MCL) auctioned 9.4 MT, followed by South Eastern Coalfields Ltd (SECL) 5.6 MT, Central Coalfields Ltd ( CCL ) 4.6 MT, Eastern Coalfields Ltd (ECL) 4.4 MT, Bharat Coking Coal Ltd (BCCL) 3.0 MT, among others. The state-run coal producer offered coal through the Single Window Mode Agnostic (SWMA) auction. SWMA auction is a unified, simplified e-auction system launched in 2022 to consolidate multiple existing auction windows (spot, special spot, forward) into a single platform, making coal procurement easier, more transparent, and market-driven for all buyers. Coal India Ltd accounts for over 80 per cent of domestic coal production. Live Events CIL, a Maharatna public sector undertaking under the coal ministry, conducts regular e-auctions to meet surging demand from thermal power plants, sponge iron makers and other consumers amid India's push for self-reliance in coal production. State-owned CIL had earlier said buyers from neighbouring nations Bangladesh, Bhutan, and Nepal can now join its online coal auctions directly, skipping the Indian middlemen. The move, the company had said, will help utilise surplus coal resources more effectively and promote transparency. Earlier, consumers across borders had access to Coal India Ltd's dry fuel only through domestic coal traders, who were allowed to buy and sell without any end-use restrictions. "In a first, effective January 1, 2026, CIL has permitted coal consumers located in the neighbouring countries like Bangladesh, Bhutan and Nepal, who wish to import coal from India, to directly participate in the Single Window Mode Agnostic (SWMA) auctions conducted by the company," CIL had said. The CIL board had cleared the decks for this move, tweaking the scheme's mechanism in the SWMA auction. "Opening SWMA e-auctions to foreign buyers reflects CIL's calibrated approach to market expansion while fully safeguarding domestic coal requirements. This step enhances transparency, competition and global market integration," a senior company official had said. Earlier, CIL held dialogues with prospective overseas coal consumers to frame enabling clauses and assess their requirements. CIL's production dropped 1.7 per cent to 768.1 million tonnes in the just-concluded FY26. The company produced 781.1 million tonnes in FY25. According to provisional data from Coal India Ltd, output in March fell to 84.5 MT from 85.8 MT in the year-ago period. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Industry executives blame an 'unrealistic policy' after a rule change disallowed using other steel scrap for compliance. This makes meeting future, increasing targets nearly impossible without a policy re-evaluation. View More

Auto companies in India fell short by 70 per cent in meeting the steel equivalent vehicle scrapping commitments in FY26 set under the environment ministry's end-of-life vehicle rules , even as industry executives blamed 'unrealistic policy' for making the entire sector non-compliant. The Ministry of Environment, Forest and Climate Change, notified the Environment Protection (End-of-Life Vehicle) Rules, 2025, in January last year, and it came into effect on April 1, 2025. It required automakers to meet extended producer responsibility (EPR) obligations on the basis of the weight of steel recovered from the scrappage of end-of-life vehicles (ELVs) or other steel scrap materials processed at registered scrapping facilities. However, a draft amendment to the notification on March 27, 2026, issued by the ministry removed the provision of 'other steel scrap materials' for the issuance of the EPR certificate, mandating only steel generated from scrapped vehicles to be counted for the certification. The rule requires manufacturers to scrap ELVs sold in the domestic market 20 and 15 years back for private and commercial vehicles, respectively to get the EPR certificate. Live Events According to the rule, in FY26, manufacturers had to scrap a minimum of 8 per cent of the steel equivalent of vehicles sold in FY2005-06 (for private) and FY2010-11 (for commercial). It translates to a total of 95.2 lakh vehicles eligible for fitness test in 2025-26, and out of which 7.62 lakh were required to be scrapped in order to meet the 8 per cent target. "The actual old vehicles received for scrapping at scrappage centres were just 2.42 lakh in FY26, and there was a shortfall of 5.2 lakh vehicles," an industry executive said on the condition of anonymity, citing official data. "So, for the entire auto industry, there was a shortfall of 70 per cent," the executive said. What has made the condition worse for the auto industry in meeting the EPR obligation was the prohibition of counting 'other steel scrap materials' in the March 2026 amendment to the rule, said another industry official. "Most OEMs had planned to meet targets with both vehicle scrapping and steel scrap from other sources. However, after the removal of that clause, meeting these targets has become nearly impossible," lamented the executive. Stating that the "policy is unrealistic", another industry executive said, "This has resulted in the auto industry falling way short of the target set for scrappage. As such, there were not many ELVs coming to scrapping centres". Auto industry body Society of Indian Automobile Manufacturers (SIAM) had also written to the ministry, raising concerns over the limited availability of ELVs for meeting EPR targets. Besides, SIAM had also highlighted to the ministry that automated testing stations were generating negligible ELV volumes, while urging it to allow the usage of other automotive steel scrap for EPR compliance in the initial years with a phased transition framework until the ELV ecosystem matures. Another industry executive said the shortfall in EPR targets can only be achieved after using "other steel scrap materials" besides old vehicles, as after every five-year cycle, the shortfall will increase. The 8 per cent target continues for five years till 2029-30, and then it increases to 13 per cent for the period 2030-31 to 2034-35 and 18 per cent for 2035-36 onwards, the executive said, while advocating for a relook at the policy. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

Geopolitical tensions in West Asia have impacted National Aluminium Company Ltd's (Nalco) exports, which previously accounted for 40-50% of its alumina shipments. This disruption, coupled with a shift in export destinations, has led to a decline in global spot alumina prices to USD 305-310 per tonne. Smelters in West Asia are operating at reduced capacity, further influencing market prices. View More

State-run National Aluminium Company Ltd 's exports to West Asia have been affected by geopolitical tensions in the region, according to its CMD, Brijendra Pratap Singh . West Asia accounts for 40-50 per cent of the company's alumina shipments. National Aluminium Company ( Nalco ) also said that a shift in export destinations due to supply disruptions in West Asia has contributed to a decline in global spot alumina prices, which have now fallen to USD 305-310 per tonne. Alumina is a white, granular material refined from bauxite ore, primarily used as the feedstock for producing aluminium. The Nalco Chairman and Managing Director, in the earnings conference call, said, "Our alumina export to the Middle East ... a lot of around 40 per cent, 50 per cent of our export was going to the Middle East, which has been affected. But now, from Indonesia and other places also, orders are there. Of course, that has resulted in a reduction in the spot prices." Live Events Nalco further said that smelters in West Asia are currently operating at reduced capacity and will not reach full capacity immediately. "So once these smelters of the Middle East, the production curtailment is there till they reach the fullest capacity, there will be an effect on the alumina pricing in the spot markets," the company said. The aluminium value chain has been affected by the West Asia conflict, as spot alumina prices have dropped in some regions due to oversupply, while refined aluminium prices have surged due to production shutdowns and shipping disruptions, analysts said. Nalco produced 23 lakh tonnes of alumina in 2025-26, of which 13.08 lakh tonnes were exported. Nalco reported a 16.6 per cent drop in consolidated net profit to Rs 1,722.44 crore for the quarter ended March 31, 2026, on the back of lower revenue and higher expenses. The company had posted a consolidated profit of Rs 2,067.23 crore in the year-ago period. Revenue declined to Rs 5,012.82 crore in the fourth quarter of FY26, compared to Rs 5,267.83 crore in the year-ago period. National Aluminium Company Ltd is one of India's leading integrated aluminium complexes, with operations in bauxite mining, alumina refining, aluminium smelting, power generation, and coal mining. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Ashok Kumar Panda is the new Chairman and Managing Director of SAIL. He previously served as Director (Finance) and Director (Commercial). Panda aims to expand SAIL's capacity to 35 million tonnes per annum. He emphasizes strengthening raw material security and market reach. His focus will be on value-added products and sustained value creation for the company. View More

Ashok Kumar Panda has taken over as Chairman and Managing Director (CMD) of Steel Authority of India Limited ( SAIL ). A company statement said he served as Director (Finance) of the Company and also held the additional charge of Director (Commercial) for about nine months prior to his elevation. “SAIL is on track for its next phase of capacity expansion to 35 million tonnes per annum,” he said, adding strengthening raw material security through enhanced domestic mining and exploration of overseas assets will be critical to support growth ambitions. Also Read: SAIL crosses 20 million tonnes sales in fiscal 2026 Panda has three decades experience in different plants and units of SAIL. Panda joined the public sector undertaking as a Management Trainee (Technical) in 1992 after a Bachelor’s in Electrical Engineering. He holds a specialisation in Finance from XIM, Bhubaneshwar, and later acquired Ph.D. in Business Finance. “We are committed to expanding our market reach with a sharper focus on value-added products , strengthening our brand connect and ensuring sustained value creation,” he said. Live Events Panda is credited with reduction of borrowings by Rs 20,000 crore through deleveraging efforts. The Cost Reduction initiatives include identification of shop-wise technical levers and implementing action plans to resolve inefficiencies towards improving bottom line. Also Read: India's state-run SAIL wins court block on steel antitrust investigation He also played a key role in determining the fair price of rails supplied to Indian Railways, SAIL said, noting he was instrumental in revising the Fixed Asset Sales Accounting Policy in the public sector undertaking which contributed towards improvement in the bottom line. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)