Steel Industry

Ashok Kumar Panda has assumed charge as chairman and managing director of SAIL, with a focus on expansion, raw material security and value-added steel

Analysts broadly retained their bullish stance, expecting steel prices to remain steady at healthy levels, thereby supporting margins

Jindal Steel on Saturday posted a consolidated net profit of Rs 1,041 crore during the quarter ended March 2026, on account of higher revenues contributed by "record sales". The steel maker had reported a loss of Rs 304 crore in the year-ago quarter. During the latest January-March period, the company's total income rose 25 per cent to Rs 16,484.28 crore from Rs 13,254.94 crore in the fourth quarter of the preceding 2024-25, according to a statement. On a quarter-on-quarter basis, the net profit jumped fivefold from Rs 189 crore recorded in the October-December quarter of FY26. In the entire FY26, the net profit jumped around 20 per cent to Rs 3,361 crore from Rs 2,846 crore as of March 2025. Total income surged to Rs 53,553.14 crore in FY26 from Rs 49,932.48 crore in the preceding financial year. Jindal Steel said the company has "reported its highest ever production and sales during FY26. Production grew by 14 per cent to 9.25 MT, while sales grew by 9 per cent YoY to 8.68 MT.

JSW Steel and Japan's JFE Steel form a 50:50 joint venture to expand Odisha's Sambalpur plant by 6 mtpa, strengthening eastern India's steel capacity with a Rs 32,000 crore investment

Both sides reviewed existing engagements and discussed expanding cooperation across the steel value chain and related industries, according to an official statement

The Centre has introduced a pricing mechanism for low-grade iron ore to make beneficiation viable, reduce royalty burden and ensure steady supply to the steel industry

Integrated stainless-steel manufacturer Mangalam Worldwide on Friday said global and domestic entities like QatarEnergy, BHEL, EIL and Gujarat State Fertilizers & Chemicals have empanelled it as approved vendor. These approvals, besides opening new revenue streams through diversification, strengthen the company's positioning across international energy, refinery, infrastructure, power and industrial sectors, paving the way for it to participate in high-specification projects and expanding its presence across global markets. "Our empanelment with globally recognised institutions is a strong validation of our product quality, manufacturing capabilities and operational reliability. As we expand our footprint across domestic and international markets, we remain focused on enabling such institutions with predictable delivery and timelines," said Chandragupt Prakash Mangal, Managing Director at Mangalam Worldwide Limited. The company's integrated model, he said, supports consistent ...

The Rs 800 crore plant in Khurda district is set to become the world's largest single-site refractory unit, catering to domestic industries and export markets across Asia

The new emissions reduction target has not been previously reported

Steel industry body seeks logistics roadmap, incentives and raw material linkages as Odisha targets 100 mtpa capacity within India's 300 mtpa goal

Chief Minister Mohan Charan Majhi asks industry to scale iron ore output and expand into mineral-rich districts to support Odisha's ambitious steel capacity target by 2030

Output rises 8 per cent year-on-year on Kalinganagar ramp-up, with domestic deliveries crossing 20 mt for the first time and strong growth across segments

Furnaces cool faster than they should as Howrah's foundry belt sputters, with West Asia tensions choking fuel lines, snarling cargo routes, and stretching workdays thinner

The talks are expected to ‌begin next month at a global steel summit, described by the Indian government as the country's largest international conference-cum-exhibition

AM/NS India CEO Dilip Oommen will retire on June 30 after over two decades, with CFO Amit Harlalka set to take over as chief executive from July 1

AMNS India has begun work on a Rs 1.36 trillion steel plant in Andhra Pradesh, with plans to serve domestic demand and tap export markets through phased expansion

Jindal Stainless, the country's biggest stainless steel producer, had last week warned of possible shipment delays

The global steel industry, including India, is expected to face multiple market-related issues in the coming days as the escalating crisis in the Middle East impacts fuels cost that has lead to increased freight rates, according to BigMint Research. Military tensions in the region are increasing as both Iran, and the US, along with Israel, continue to attack each other. BigMint analysts said crude oil, LNG, and freight costs are rising simultaneously, transmitting cost pressure directly into steel and steel-related commodity markets. From an average of USD 70 a barrel before the war, crude oil prices have risen to about USD 90/per barrel, an analyst said, adding that the cost is expected to continue to rise in the coming days. War has also impacted freight cost, which jumped almost 40 per cent in recent times. In the absence of insurance cover, marine operators are also offering freight at non-negotiable prices as per the availability of the vessel. On the impact of the US-Iran ..

A senior steel ministry official says mandatory compliance under the Carbon Credit Trading Scheme will begin soon, as India moves to lower emissions and set plant-specific targets

With domestic demand strengthening and European prices firming after CBAM, Tata Steel appears past the worst of pricing pressures, with Q4FY26 expected to see sequential improvement