Key takeaways from AISC 2.0: Product diversification and unlocking opportunities in value-added steel sector

The All India Steel Conclave 2.0, held on January 10-11, 2025, under the aegis of the Chhattisgarh Steel Re-rollers Association, with BigMint as its Knowledge and Marketing Partner, provided a platform for key stakeholders to deliberate on product diversification. The session on "Product Diversification - Unlocking opportunities in Value Addition Steel and Emerging Markets" highlighted the big waves of technological innovation in steel plants and the consuming sectors:

Transport: Acceleration of electric vehicles in many countries

CO2 emissions: Natural resource-based steelmaking gives an opportunity to reduce carbon emissions.

3D Printing: The Giga casting started by Tesla will help change the way steel is produced for the auto sector, and it will help in cost optimization.

Circular economy: Emphasis on efficient recycling, transparent value chain to reduce CO2 emissions, as well as increase in EAF steelmaking capacity.

These market developments will influence the steel market and demand for value-added products, product diversification, capacity build-up and thereby fulfil customer demand.

Prabhat Malik, IAS, Secretary, Department of Commerce & Industry, Govt. of Chhattisgarh, pointed out how Chhattisgarh can leverage the emerging global market. He said the government should provide a suitable environment, industry infrastructure and monetary support. At the same time, it should keep the regulatory costs and subsidies minimum, assist in giving an industrial complex for the big players in the industry which will help in diversification.

He further said that Chhattisgarh has emerged as a big hub for the defense sector due to its location advantage, railway connectivity.

Sanjay Agrawal, Associate Director & CMO, Jayaswal Neco Industries Limited. Highlighted the innovation by the company and discussed about innovations in the auto/EVs, railways and defense sectors.

Keshav Beriwala, Director, Shyam Steel Industries Limited, said that better product can be created through new product lines, conventional LRFs etc.

• Value addition has been to done in all the steelmaking routes.
  
  
• The offering needs to be diversified within the same industry and other industries as well.
  
  
• The fabrication market is one of the emerging markets which is likely to grow by 13-14 % per annum.
  
  

The value addition in the forged round category will be driven by solar and wind mills, while the rolled category's demand will be driven by the auto sector.