With support from the Transition to Zero Pollution initiative, Imperial said it leverages research partnerships with industry to convert academic expertise into workable solutions to real-world problems, including sustainability. As part of initiatives to develop cutting-edge new processes to help decarbonise steel production, Imperial College London and the Indian multinational Tata Steel have partnered to create a new GBP 10-million design and manufacturing centre. Through the development of new steel varieties, other new materials, and steel combinations with other materials, the Centre for Innovation in Sustainable Design and Manufacturing is anticipated to facilitate the creation of high-performing and sustainable products in the automotive and clean energy industries. Imperial claims that stronger and lighter steel varieties, as well as steel mixed with other materials like composites, could promote the development of clean energy production and more reasonably priced, energy-efficient automobiles. Professor Mary Ryan, Vice-Provost (Research and Enterprise) at Imperial College London and co-chair of the Governing Council of the centre, said in a statement on Wednesday that the new centre will work to reduce the environmental impact in steel production and in key sectors that use steel, like the clean energy sector. The centre will do this by utilising the combined expertise of Imperial and Tata Steel. Systematic transformation of industrial systems must be prioritised if we are to create a future with zero pollution. According to her, the new center's actions will help the steel industry become more advanced and profitable both domestically in the UK and internationally. Tata Steel will profit from the knowledge of Imperial academics in the Department of Mechanical Engineering as well as throughout the university, according to Imperial, a prestigious research university in the UK. Along with developing new technologies to early stages of readiness that will be made available for Tata Steel to further develop and commercialise, Imperial researchers will also be working on an accelerator programme at the centre to support the quick transfer of new insights to the industry.

Tata Technologies, a multinational provider of digital services and product engineering, opened its first innovation centre in Coimbatore. This center's primary goal is to develop, test, and integrate vehicle software solutions in order to provide innovative solutions for customers worldwide. Tata Technologies' initiative aims to facilitate the development of software-defined vehicles and e-mobility solutions for global automotive OEMs and Tier-1s. Across the automotive value chain, the Coimbatore centre will act as a hub for local talent to participate in international projects, advance their skills in new vehicle software, and develop innovative solutions. Warren Harris, MD and CEO of Tata Technologies, made the following statement in response to the inauguration: "We are happy to establish our presence in Coimbatore and contribute to the area's thriving engineering landscape." This strategic initiative will guarantee an ongoing flow of expertise, concepts, and solutions, leading the industry into a future characterised by efficiency and innovation. Our shared goal is to establish a centre of excellence that will lead the way in vehicle software systems going forward and support our mission to engineer a better world." A major engineering hub in India, Coimbatore is known for its thriving engineering community and educational environment. Advanced driver assistance systems (ADAS), connected cars, cybersecurity, hardware-in-the-loop validation, embedded software development and testing, and AUTOSAR are just a few of the vehicle software projects that the new innovation centre will concentrate on. Tata Technologies intends to hire 100 local community members as vehicle software specialists during the first phase of business.

COP28 approached the switch away from fossil fuels in a practical manner. India was successful in proving that coal alone cannot be a climate villain. However, the wealthy still don't spend enough money. When the gavel fell at COP28 to signify the agreement—albeit one day past the deadline—it signified more than just the customary end of another UN climate negotiation. This time, the discussion was about fossil fuels and took place in Dubai under the direction of the CEO of one of the largest oil companies in the world. Focus on fossil fuels: Because of the strong opposition from large oil and gas producers, the international community has refrained from mentioning fossil fuels directly in climate agreements for the past thirty years. But COP28 upended this status quo. Moving away from fossil fuels is a big step in the right direction towards understanding and resolving the underlying causes of climate change.

On Thursday, a division bench of the Calcutta High Court unanimously overturned a single judge's three-year-old ruling in favour of Harsh Vardhan Lodha's continued position as chairman of the Rs 16,000 crore MP Birla Group. In their ongoing legal battle with the Lodha family over the late Priyamvada Devi Birla's estate, the Birla family suffers a setback with the most recent ruling. According to those close to the Birla family, the family is expected to appeal the verdict in the Supreme Court, paving the way for the last chapter in the 19-year legal battle between the two legendary business families.A panel of three administrators, one each nominated by the Lodha and Birla families and a retired judge, had previously been granted full authority by a single judge of the Calcutta High Court to assume control of the entire estate of the late Priyamvada Devi Birla, the former chairperson of the MP Birla Group, who passed away on July 3, 2004. A judge issued an order in September 2020 mandating Harsh Vardhan Lodha's removal from his position as MP Birla Group chairman due to disagreements over the meaning of "extended estate." The MP Birla Group consists of the publicly traded flagship Birla Corporation, which is valued at approximately Rs 10,835.42 crore; 12 hospitals, including Bellevue Clinic Kolkata and Bombay Hospital Trust; 11 academic institutions, including MP Birla Higher Secondary School and South Point School; and the MP Birla Planetarium.

LONDON: As part of efforts to develop cutting-edge new processes to help decarbonise steel production, Imperial College London and Indian multinational Tata Steel have partnered to create a new GBP 10-million design and manufacturing centre. Through the development of new steel varieties, other new materials, and steel combinations with other materials, the Centre for Innovation in Sustainable Design and Manufacturing is anticipated to facilitate the creation of high-performing and sustainable products in the automotive and clean energy industries. 

Imperial claims that stronger and lighter steel varieties, as well as steel mixed with other materials like composites, could promote the development of clean energy production and more reasonably priced, energy-efficient automobiles.

Professor Mary Ryan, Vice-Provost (Research and Enterprise) at Imperial College London and co-chair of the Governing Council of the centre, said in a statement on Wednesday that "this new centre will work to reduce the environmental impact in steel production and in key sectors that use steel, like the clean energy sector." The statement drew on the combined expertise of Tata Steel and Imperial. 

Systematic transformation of industrial systems must be prioritised if we are to achieve a zero-pollution future. By doing this, the new centre will help to develop a high-tech, profitable steel industry in the UK and around the world," the speaker stated.

Tata Steel will profit from the knowledge of Imperial academics in the Department of Mechanical Engineering as well as throughout the university, according to Imperial, a prestigious research university in the UK.
Prof. Nigel Brandon, dean of Imperial's Faculty of Engineering, said, "This new Centre is a great example of how Imperial's research can have real-world impact and address a key global challenge."

"Innovative manufacturing processes are desperately needed to speed up the shift to a more sustainable steel industry and decarbonise steel production. Through the integration of Imperial's scholarly proficiency and Tata Steel's invaluable industry knowledge, we aim to optimise the worldwide impact of our research," the speaker stated.

With support from the Transition to Zero Pollution initiative, Imperial said it leverages research partnerships with industry to convert academic expertise into workable solutions to real-world problems, including sustainability. Tata Steel's strategic goal is to employ high-tech manufacturing techniques and high-tech products while expanding its technological capabilities.

An exchange filing states that JSW Steel USA Ohio intends to raise long-term capital in the US municipal bond markets. The domestic steel manufacturer JSW Steel Limited has a wholly-owned indirect subsidiary called JSW Steel USA Ohio. USA's JSW Steel According to JSW Steel's filing, Ohio is taking into consideration a proposal to raise long-term funds in the US municipal bond markets with a tenor of about thirty years. "The Jefferson County Port Authority expects to issue its Economic Development Revenue Bonds (JSW Steel USA Ohio, Inc. Project), Series 2023 in the aggregate principal amount of USD 145,000,000 (the Bonds) on or about December 20, 2023, the proceeds of which will be utilised for extending a loan to JSW Ohio," it stated. Under Ohioan law, the Jefferson County Port Authority is both a port authority and a corporate and political entity.
The bond holders will not have any recourse against the Port Authority; instead, the Bonds will be paid back from the proceeds of the loan they received from JSW Ohio. As part of the bond issuance and sale process, the company has committed to furnish a guarantee on behalf of JSW Ohio, which will be employed to ensure bond repayment.
It is proposed to use the loan proceeds to finance the purchase, building, outfitting, and installation of a vacuum tank degasser as well as upgrades to a continuous slab casting machine, including dynamic soft reduction technology.
Additionally, it will be used for other projects that JSW Ohio will carry out, like caster upgrades, auxiliary systems, infrastructure upgrades, and specific ancillary equipment to enable increases in slab quality and slab production capabilities.
 

Due to an iron ore shortage, the company has had to shut down several times in the last year. KIOCL had stopped operations in June, picked them back up in August, closed it that same month, picked them back up in September, shutting it down in October, and picked them back up in November. The pellet producer had also been attempting to import iron ore for pelletisation but continue to face shortage of supplies from domestic sources making operations unviable. 

Piyush Goyal, the Union Minister of Commerce and Industry, urged steel producers to consider ways in which they can provide assistance to small industries that rely on steel for the production of parts and other engineering products on Thursday. Goyal instructed representatives of the steel industry to evaluate manufacturing costs and look into ways to help small businesses during a meeting on Thursday in New Delhi. The purpose of the meeting was to discuss the concerns expressed by exporters and small businesses regarding the cost of steel inputs. Goyal stated that "special care of MSMEs needs to be taken for easier and cost effective supply of steel". Stakeholders in the steel industry, for their part, pledged to assist small and medium-sized businesses and exporters, as well as reassure them that they will find reasonably priced ways to overcome any obstacles they may face, particularly in the wake of COVID-19.
Additionally present at the meeting were Union Steel Minister Ram Chandra Prasad Singh, MSME Minister Narayan Rane, SAIL Chairperson Soma Mondal, CMD Atul Bhatt of Rashtriya Ispat Nigam Ltd, CMD Sajjan Jindal of JSW Steel Ltd, and CEO and MD of Tata Steel TV Narendran.

The domestic JSW Steel Limited (JSW) has been awarded a Ba1 corporate family rating (CFR) by global rating agency Moody's. The ratings agency stated in a report released on Monday that JSW's Ba1 CFR reflects the company's size and strong market position in India, as well as its competitive conversion costs, which come from efficient operations and use of the newest furnace technology. Furthermore, it stated that the rating also represents JSW Steel's ongoing efforts to strengthen its backward integration into essential raw materials, good product and end-market diversification, and growing emphasis on value-added goods and retail sales. Moody's said it has also "affirmed the Ba1 ratings on JSW's senior unsecured notes, Periama Holdings LLC's guaranteed backed senior unsecured notes, and the US$40 million guaranteed senior unsecured revenue bonds issued by Jefferson County Port Authority, and maintained the stable outlook on JSW and Periama Holdings." Simultaneously, Moody's has rated the proposed USD 145 million bonds that Jefferson County Port Authority intends to issue as Ba1 bonds. The proceeds from the bond issuance will be loaned to JSW Steel USA Ohio, Inc. (JSW Ohio), a wholly-owned indirect subsidiary of JSW, and used to fund the ongoing capital expenditure for the installation of a vacuum tank degasser and improvements to a continuous slab casting machine, as well as for other process improvements. The tax-exempt senior unsecured bonds will be guaranteed by JSW and carry a tenor of around 30 years."The proposed bonds are backed by an unconditional, irrevocable corporate guarantee from JSW of up to 125% of the notes' face value, and will rank pari passu with the company's existing senior unsecured debt. As a result, they are rated at the same level as JSW's senior unsecured debt rating," said Kaustubh Chaubal, a Moody's Senior Vice President.

JSW Steel, a part of JSW Group, is among the top 5 steel producing companies in India having global presence.
 

Global bearing manufacturer SKF, headquartered in Sweden, has moved some of its automotive bearing production from its Busan, South Korea, factory to plants in China, India, and Puebla, central Mexico."By transferring the supply of products to SKF's factories in Puebla, Mexico, Pune, India, and Shanghai ATC, China, these businesses will be closer to their existing customers," the business stated in a statement."This also supports the Group's Automotive strategy and the ongoing portfolio re-positioning towards the electric vehicle drivetrain and commercial vehicle segments," the business stated. SKF in Mexico has plants in the northern state of Nuevo León and in the central state of Puebla, the company employed 1,837 people as of the end of last year, according to company information, seen by SteelOrbis. The company produces steel bearings for the automotive industry, for the industrial sector and the agricultural industry. 

The central Mexican state of Aguascaliente will receive a $31 million investment from Chennai, India-based auto parts manufacturer Rane, according to a statement from the local government.Among the businesses in the Indian industrial group is Rane Madras Limited, which manufactures steering and suspension systems for automobiles.The Aguascalientes government released a brief statement stating that Rane Madras will create 300 new jobs. It also lays out the requirements that the state will accept new investments from India. The investment announcement was made at the local government offices. Aditya Ganesh, president of Rane Madras, who was present. The government information did not specify when construction of the plant begins or when Rane production begins. According to Rane's website, its main clients are automotive companies BMW, Hyundai, Benteler, KIA, Renault, Daimler, among others. In Aguascalientes are the plants of Nissan and the automotive company Compas (Cooperation Manufacturing Plant Aguascalientes, Compas), a $1.0 billion 50-50 joint venture between Daimler and Nissan.

For the second consecutive month, heavy truck production in increased in November by 2.0 percent, year over year, totaling 17,848 units, according to SteelOrbis analysis of data from the national statistics office Inegi. Of the total production, 94.9 percent was concentrated in three companies. Freightliner manufactured 10,849 units (60.8 percent of the total), up 9.8 percent year over year. International Truck manufactured 4,525 units (25.4 percent of the total), 13.5 or 707 units less, and the unit in Mexico of Paccar (Kenworth) manufactured 1,571 units (8.8 percent of the total), 11.6 percent more. Exports of heavy trucks decreased 0.9 percent, year-over-year, to 14,114 units in November. Freightliner's growth was offset by International and Kenworth. The three companies were the only exporters in the month. Freightliner exported 9,646 units (68.3 percent of the total), up 9.9 percent, year over year, in November. International Truck exported 3,947 units (28.0 percent of the total), 17.0 percent less, and Kenworth sold 521 units abroad (3.7 percent of the total), 24.7 percent less than last November.

A federal judge presiding over the Altos Hornos de México steel company's (AHMSA) financial restructuring legal proceedings has declared that the company is not allowed to hold shareholder meetings with the intention of changing the share structure on December 21. "(AHMSA has) a prohibition on holding corporate meetings that modify the administration of the merchant," the Second District Court on Commercial Bankruptcy Matters ruled last week, according to judicial edicts seen by SteelOrbis. The judge will also forbid the state oil company Pemex from seizing the company. The court reported that the conciliator (the person in charge of reviewing AHMSA's financial situation) requested authorization on October 31 to hold a shareholders' meeting. Last week, SteelOrbis published that the current board of directors, headed by Alonso Ancira Elizondo, called a shareholders' meeting so that investors led by the New York investment fund manager Argentem Creek Partners take control of the company. Upon assuming control of AHMSA, the new investors led by Argentem will request a loan of up to $600 million to reactivate steel production.

The American Iron and Steel Institute (AISI) reports that domestic raw steel production was 1,697,000 net tonnes during the week ending December 9, 2023, with a capability utilisation rate of 73.8 percent.Compared to the previous week, which ended on December 2, 2023, when production was 1,702,000 net tonnes and the rate of capability utilisation was 74.1 percent, production for the week ending on December 9, 2023 is down 0.3 percent.The week ending December 9, 2022, saw 1,576,000 net tonnes of production, with a 70.6 percent capability utilisation at that time. The production for this week is 7.7% higher than it was during the same time last year.With a capability utilisation rate of 75.5%, adjusted production through December 9, 2023, was 83,640,000 net tonnes. That is down 0.2 percent from the 83,802,000 net tons during the same period last year, when the capability utilization rate was 77.5 percent.

Even though global rates are rising, Indian steel mills have had to adjust their prices due to a surge in imports and a drop in demand in the trade segment following the festival.
Market sources claim that steel companies adjusted the list price for December by two to three percent to bring it in line with what the market was willing to pay.
According to a significant producer, this is a correction meant to make the trade competitive with the recent imports.