Steel Industries

India exported 0.58 million metric tonnes of finished steel in September, up 47.6 per cent on the year, according to the data

The EU's Carbon Border Adjustment Mechanism (CBAM) will impact Indian exports to the region, and the industry has to take measures to address this "concern", Steel Secretary Sandeep Poundrik said on Wednesday. The CBAM is designed to impose a carbon price on imports from countries with lower environmental regulations, initially covering iron and steel, aluminium, cement, fertilisers, electricity and hydrogen. This is expected to be fully in place in 2026. The tariff is pegged to the carbon price in the EU Emissions Trading System (EU-ETS), which in 2026 is assumed at Rs 5,200 per tonne of CO2 equivalent, with a five per cent annual rise as free allowances in the EU are phased out. The limits of carbon emission, which are proposed in the CBAM, will definitely affect the exports, the senior ministry official said in a session at 'FT Live Energy Transition Summit India' in the national capital. He said the Indian steel industry is still predominantly using the blast furnace (BF-BOF) .

Finished steel shipments from China fell to 0.1 million metric tons in April, down 26.5 per cent from a year ago

The Government announced the imposition of a 12% provisional safeguard duty on certain steel products to protect the domestic industry from injury due to a recent spike in imports of such products.

Last month, India recommended a 12 per cent temporary tax on certain steel products for 200 days, known as a safeguard duty

India, the world's second-biggest producer of crude steel, has the capacity to make around 18-20 million metric tonnes per annum of alloy steel

India stayed net importer of steel with the inbound shipments rising over 20 per cent to 8.29 million tonnes during the April-January period of this fiscal, official data showed on Friday. The country had imported 6.89 million tonnes (MT) of steel in the 10-month period of 2023-24 financial year. "India was a net importer of finished steel. Import of finished steel was at 8.292 MnT, with a year-on-year (y-o-y) growth of 20.3 per cent," according to the data. Against imports, exports have shrunk to 28.9 per cent to 3.994 MT during the said period compared to 5.619 MT in April-January period of preceding fiscal year. Steel and stainless steel industry players have been consistently raising the issue of import with the government, claiming the surge in inbound shipments from select group of countries including China has affected their competitiveness. Recently Steel Secretary Sandeep Poundrik said that India needs to add 100 million tonnes (MT) of steel making capacity by 2030 on ...

Focusing on sustainable building practices, cutting-edge technology, and innovative solutions, the company is strategically expanding its operations across the region

India needs to add 100 million tonnes (MT) of steel making capacity by 2030 on priority to avoid becoming dependent on imports, Steel Secretary Sandeep Poundrik said on Friday. He also pointed out that slumped steel demand and over capacities globally have affected domestic industry. The official made the remarks at an event organised by Indian Chamber of Commerce (ICC) in the national capital. One priority is to create more capacity. India has about 200 MT steel capacity at present. Roughly 20 MT was added this financial year, he said. "So we have to add another 100 MT of capacity in next six years. If we don't do that, then we basically become dependent on the imports," the Poundrik said addressing the session 'Viksit Bharat: India@2047 through Prism of Steel Sector'. Under the National Steel Policy (NSP) 2017, the government has set a target of scaling up India's overall steel manufacturing capacity to 300 MT by 2030. Another priority, the secretary said, is keeping domestic s

In 2024, domestic steel prices fell, influenced by higher net imports

The government is working to address the issues related to steel imports, Union Steel Minister H D Kumaraswamy said on Tuesday. The industry has apprised the ministry and it is aware of the issue, Kumaraswamy told PTI on the sidelines FICCI's Conference on 'Electric Vehicles Accelerating E-mobility: Enablers and Imperative'. "Some issues are there. They (steel players) are telling some substandard material is getting imported from some countries. For that we are working," he said. Domestic steel players have been consistently raising their concerns over rising cheap steel imports from select nations, affecting their competitiveness. Steel imports have risen by nearly 50 per cent in the first six months of FY25 compared to the same period last year, with China being the largest contributor, BigMint CEO Dhruv Goel said. "This surge is primarily driven by increased Chinese steel exports due to slowing domestic demand there. China's exports are projected to surpass 100 million tonnes

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

In April-June, general elections, which lasted for nearly half quarter, led to muted steel demand, analysts said, which was compounded by higher costs of rebar, a key raw material for steelmakers

Two crucial processing systems at Kalinganagar facility to be commissioned in the next few quarters

Steel companies have been facing difficulties in importing machinery from China and ensuring visa clearances for Chinese experts for more than six months

JTL Industries Ltd said its board has approved an investment proposal of Rs 1,200 crore in company's arm JTL Tubes Ltd to set up a project in Maharashtra. The investment will be funded partly from the internal accruals and partly from proceeds of a proposed issue, the steel pipes maker said on Monday. The company's board of directors has approved "issue of securities by way of qualified institutions placement (QIP) for aggregate amount not exceeding Rs 500 crore in one or more tranches, including green shoe option," the filing said. The board also approved a proposal to invest up to an aggregate sum of Rs 1,200 crore in wholly-owned subsidiary JTL Tubes Limited to set up a mega project in Maharashtra, an exchange filing said. JTL Industries Ltd (formerly known as JTL Infra Ltd) is the largest producer of electric resistance welded (ERW) steel pipes in India, with a capacity to produce more than 6 lakh metric tonnes per annum.

JSW Steel on Tuesday said its arm Periama Holdings LLC (Periama) has completed the acquisition of JSW USA by purchasing the remaining 10 per cent stake in its "common stock". Periama Holdings LLC (Periama) is a wholly-owned subsidiary of domestic player JSW Steel. "Periama on December 18, 2023 (US time) completed the acquisition by purchase of the remaining 10 per cent stake in the Common stock of JSW USA," the filing said. Consequent to completion of this acquisition, Periama's shareholding in JSW USA has increased from 90 per cent (pre-acquisition) to 100 per cent (post-acquisition) and JSW USA has become a wholly-owned subsidiary of Periama and a step down wholly-owned subsidiary of JSW Steel, it said.

S&P Global's Manufacturing Purchasing Managers' Index dips slightly to 56.2 in August from 56.4 in July

Lenders, shareholders meeting to demerge steel company on Tuesday

Azovstal is part of the Metinvest group, which is controlled by Ukraine's richest man, Rinat Akhmetov