India’s Steel Exports

Steel imports started dropping in the lead-up to the government's provisional safeguard duty - a measure aimed at protecting domestic producers from a flood of cheap imports

EU will reduce import quotas, known as safeguards, limiting the amount of steel that can be imported into the bloc of 27 nations tariff-free

The US announcement to impose tariffs on steel imports will not have much impact on the Indian industry as the domestic market is strong and a small quantity is exported to America, Steel Secretary Sandeep Poundrik said on Monday. President Donald Trump said he will announce an additional 25 per cent tariff on all steel and aluminium imports from different countries on Monday. "...the US President has said about putting tariffs on steel. How much steel actually we export to the US? We produced 145 million tonnes of steel last year, of which 95,000 tonnes was exported to the US. So, how does it matter if out of 145 million tonnes, you are not able to export 95,000 tonnes," the official said at an event organised by Bengal Chamber of Commerce and Industry (BCC&I). Addressing the 'Minerals Mining & Metals Conclave', he said India's domestic market itself is so strong with growing consumption that the steel industry will find it difficult to cater to that in the coming ...

Domestic steel prices have dropped to a three-year low on account of increased imports, according to a report. Hot rolled coils (HRC) prices have fallen to Rs 51,000 a tonne from a peak of Rs 76,000 a tonne in April 2022, markets research firm BigMint said in a report. The rate of cold rolled coils (CRC) is trading at Rs 58,200 a tonne from the peak of Rs 86,300 a tonne in April 2022. The prices exclude the 18 per cent GST on the commodity. "The rates of HRC and CRC in India are trading at their three-year low graph. The surge in imports has impacted the domestic prices hitting the demand," BigMint said. According to the data, imports during the April-June quarter surged by 68 per cent to 1.93 million tonnes (MT) from 1.15 MT in the same period of 2023-24. Steel imports rose by 38 per cent to 8.319 MT in 2023-24, making India a net importer of the commodity. Steel players have raised the issue of increased imports from select countries with the government and sought measures to .

The world's second-biggest crude steel producer remains a bright spot globally with robust demand from its construction and automotive sectors

India being a net importer of steel is a matter of concern, Tata Steel CEO & MD T V Narendran said Tuesday. The government has assured of intervention, if the imports remain on a rise, Narendran said at the ISA Steel Conclave event in the national capital. "I think it's a little bit of a concern because internationally steel prices are still a bit soft because of China... You heard the (commerce) minister Piyush Goyal saying that if imports increase the government will look at what it can do to help us," he said replying to a question on India being net importer of steel in October. Commerce and Industry Minister Piyush Goyal on Tuesday assured the domestic industry that India will not accept such unfair taxes and will fight to get a fair deal for producers and exporters. He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization). The CBAM (Carbon Border Adjustment Mechanism) or carbon tax (a kind of ..

Major steelmakers reported a drop in profits in the December quarter, in part because the government in May imposed the tax, which applied to exports of some intermediate steel products, such as bars

India's steel exports is expected to come down by 40% to 12 million tonnes (MT) in the ongoing fiscal, as a result of the duty-related measures taken by the government last month, according to CRISIL

Fall comes on the back of the govt's decision to impose export duty on steel in a bid to cool off domestic prices

Three-month exemption will provide some relief to the players whose orders are in the pipeline, an industry executive said.

India's steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports

Motilal Oswal says demand for long steel has moderated, possibly weighed by weakened construction activity

Global prices stay at an elevated level, home demand also seen picking up