High Quality Steel Current Affairs - 2020
On May 24, 2020, the World Steel Association released the World Steel Report. According to the report, the crude steel report of India declined by 65%. During April 2020, the steel output of India was 3.13 million tonnes.
In April 2019, according to the report, India produced 9.02 million tonnes. In March 2020, India faced a decline of 14% steel output as compared to March 2019.
The report also says that the global steel output declined by 13%. In April 2019, the global steel output was 157.67 million tonnes. In April 2020, the output declined to 137.09 million tonnes.
Key Findings of the report
China has reported 1.7% fall in steel production. This is the first time China is facing an output decline. US faced a decline of 32%. South Korea’s steel production declined by 8.4%.
The other global steel producers such as European Union, France, Italy, Turkey, Spain, Russia, Ukraine and Brazil also faced decline in their output.
National Steel Policy
India is currently operating under its National Steel Policy 2017. Under the policy, India is to increase its steel production to 300 million tonnes by 2030. It alsi aims to make India self-sufficient in steel. It also aims to build a globally competitive steel industrial output in the country.
Tags: Crude Steel • High Quality Steel • lock down • National Steel Policy • World Steel Association
On February 28, 2020, the Union Minister of Steel announced at a workshop organized by Confederation of Indian Industries (CII) that GoI is to make Odisha the steel hub of India. This is to be achieved by the Government with the help of Japan.
Odisha has been selected to establish steel hub due to its strategic location, availability of raw materials and strong connectivity. The city of Kalinga Nagar is to be developed as the epicenter of Mission Purvodaya. With implementation of the mission, more than 75% of steel is to come from eastern India with Odisha alone contributing more than 100 metric tonnes per annum.
The mission was launched in January 2020. It aims to develop Eastern India as an integrated steel hub. Under the mission, the GoI aims to generate employment opportunities and also increase growth of steel sector.
This will also help achieve the target of National Steel Policy, which is producing 300 MT of steel by 2030.