Steel Exports

Global oversupply and Chinese exports continue to weigh on prices, but strong domestic demand and expected duty support could help stabilise Indian steel prices by the final quarter of FY26

The Steel Ministry has eased import procedures by removing NOC requirements for non-QCO grades, extending multiple exemptions to March 2026 and launching SARAL SIMS to simplify registration for MSMEs

India's crude steel production in October stood at 14.02 million metric tons, up 9.4 per cent from a year earlier, according to the data

India can mitigate the impact of high tariffs in global markets by exporting high-value cold-rolled steel components and other value-added items that face lower duties, said Dhirendra Sankhla, Director of Mother India Forming (MIF) -- a manufacturer of customised steel tubes and profiles. The United States has increased tariffs on Indian steel to 50 per cent, while the European Union is proposing new tariffs, creating a ripple effect across the global steel trade and causing uncertainty for countries like the UK. "The world challenged India with 'Make in India', and Indian manufacturers responded with the 'Made in India' benchmark, meeting global quality and delivery standards. By converting steel volume into precision-formed components, India is no longer just a steel producer, it is a solutions provider for the world," Sankhla said. Cold-roll sheet forming converts steel coil into engineered profiles, tubes and components that are often classified differently for trade purposes, .

Indian steel producers are raising concerns over subsidised imports from China, Vietnam and South Korea, saying low-priced inflows are dragging domestic prices

Demands include zero duty on natural gas, use of District Mineral Foundation and CAMPA funds

The steel industry has agreed to supply the metal to micro, small and medium enterprises (MSMEs) at rates on par with export prices, a top government official said on Tuesday, allaying concerns that a safeguard duty imposed on certain import products will have adverse impact on small enterprises. The government on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision came following a recommendation from the commerce ministry's investigation arm DGTR. For each product, a threshold import value has been notified. If imports arrive at a value lower than the threshold, the duty becomes applicable. These steel products are used as inputs by domestic manufacturers of various sectors, especially those engaged in manufacturing of engineering goods. Talking to reporters here on Tuesday, Steel secretary Sandeep Poundrik said, "As far

The finance ministry excluded developing countries from the safeguard duties other than China and Vietnam

Despite near-term challenges such as high imports and lower realisations, the long-term outlook for Tata Steel remains positive, analsyts at Motilal Oswal said

Unless Beijing rips up its current playbook and decides to re-inflate the housing market or splurge on infrastructure, then steel consumption in China is in long-term decline

Steel consumption in China could even contract, according to ArcelorMittal, which lowered its 2024 forecast to a range of -1 per cent to +1 per cent

India's monthly steel exports hit a 18-month high to 1.1 million tonne in January 2024 on increased demand from the European Union and supportive global prices, SteelMint said. Besides, competitive domestic prices of steel contributed to rise in export, the research firm said in its latest report. The outbound shipment of steel in January 2023 was 0.67 million tonne , as per SteelMint data. On reasons behind the surge in exports, SteelMint said, "good restocking demand from the European Union (EU) contributed 67 per cent of the 1.11 MT (export) in January. It was highest in last 18 months." While the price of hot rolled coil (HRC) in India's trade segment was at Rs 54,300/a tonne, the global rate was USD 710 per tonne (about Rs 58,000). This factor also contributed to the demand for Indian steel in the global markets. Overall, Indian steel exports may remain largely range-bound or fall slightly in the near term because of the "global trade lull induced by the Chinese lunar holi

The additional tariffs had impacted $1.21 billion worth of India's exports of steel and aluminium to the US in 2018

India's merchandise trade deficit rose faster-than-expected in May to $22.12 billion, up from $15.24 billion in April, due to reduced demand for Indian exports from developed countries

The Carbon Border Adjustment Mechanism (CBAM) framework will impact India's 15-40 per cent of steel exports to Europe, Icra said on Thursday. The impact will be seen from the calendar year 2026 to 2034, the rating agency said in a report. The European Union (EU) is introducing the CBAM from October 1 this year. Icra said the EU is the second largest steel-consuming block globally. It recently signed the mechanism laying the framework for the imposition of taxes on embedded carbon imports from six sectors, which includes steel, aluminium, cement, hydrogen, electricity, and fertiliser. "...CBAM compliance requirements could pull down the profits of Indian steel exports to the EU by USD 60-165/MT between CY 2026 and CY2034. CBAM to impact between 15-40 per cent of India's annual steel exports which are made to Europe. Failure to reduce the carbon footprint may result in lower profits in EU markets," it said. According to Icra, India exports up to 3-5 million tonnes of finished steel

The UK government has announced the removal of an up to 4 per cent countervailing tariff on stainless steel bars and rods imported from India due to a perceived low impact on local suppliers. The UK's Trade Remedies Authority (TRA) said on Thursday that its recommendation that the countervailing measure on imports of stainless steel bars and rods from India be revoked has been agreed by the government. Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin. They are one of three types of trade remedies that are allowed under World Trade Organisation (WTO) rules. The TRA concluded that although subsidised imports would continue from India if the countervailing measure were no longer applied, it is unlikely that the UK industry would be injured if the measure was no longer in place. Trade association UK Steel said there is minimal supply to the UK market of stainless bars and rods by UK producers

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

His comments come after JSW, India's largest steelmaker by capacity, on Friday reported an 89% fall in profits for the quarter ended Dec. 31, hurt by a 56% slump in exports

India's exports of finished steel more than halved during the first nine months of the fiscal year that began in April 2022, according to the latest government data

India's finished steel exports more than halved during the first eight months of the current fiscal year that began in April, according to the latest government data reviewed by Reuters