Steel Production

Domestic steel demand is expected to grow 8-10 per cent in the second half of the ongoing fiscal, Tata Steel CEO and MD T V Narendran said on Tuesday. The industry executive made the remarks on the sidelines of the Indian Foundation for Quality Management (IFQM) Symposium 2026 in the national capital. "Demand should be 8-10 per cent because all consuming sectors are quite strong. So we are quite positive about the prospect of the steel industry," Narendran told PTI in reply to a question related to the outlook for the Indian steel industry. On the proposed Netherlands project, he said the company is actively engaged with the government there to resolve issues before signing of a binding agreement. "There are issues related to coke oven closure. There is an issue related to how to classify and handle steel slag so all these issues need to be addressed before we can come to any binding agreement," Narendran said. India-based Tata Steel owns a steel manufacturing plant at IJmuiden, t

The government also plans a ₹5,000 crore Viksit Bharat Ispat scheme for small producers, with incentives linked to output and lower carbon emissions

Jindal Steel aims to raise production to 12-12.5 MT by FY28, focus on value-added steel and boost exports amid rising freight costs and tougher global markets

Aluminium remains is UBS' preferred sub-sector, that offers a mix of earnings growth (cyclical tailwinds), valuation support, and potential to deleverage.

Senior officials from both companies said rising demand and addition of new capacity in India could help offset slowing growth in China, which has dominated global steel markets for over two decades

JSW Steel reported a 15 per cent increase in consolidated crude steel production in May, supported by higher output from Indian operations, Dolvi plant operations and JV ramp-up

Output gains were driven by full operations at Dolvi and the ramp-up of JVML, while a key blast furnace at Vijayanagar remained shut for expansion

The SAIL-owned plant has partnered with GAIL to secure alternative fuel supplies amid propane shortages linked to the West Asia crisis

JSW Steel plans to expand capacity to 78 million tonnes in India, banking on strong domestic demand and supply-chain resilience despite global volatility

Rourkela Steel Plant achieves record output across key units and improves efficiency metrics, driven by higher capacity utilisation and operational stability in FY26

Coal India will invest Rs 3,300 crore to set up eight coking coal washeries by FY2030, aiming to improve coal quality, reduce imports and support domestic steel production

Delays in mine operationalisation and statutory clearances could hamper India's ambition of reaching 400 million tonnes of steel production by 2030, a JSPL executive warned

India's core sector output hit a FY26 high in December, with year-on-year growth rising to a four-month peak of 3.7%, led by electricity, cement and steel

Ahead of the Budget, Industry body Assocham has urged the government to provide incentives for hydrogen-based direct reduced iron (DRI) and concessional green finance to help the steel sector transition to low-carbon production. Finance Minister Nirmala Sitharaman is expected to table the Union Budget for the Financial Year 2026-27 in Parliament on February 1, 2025. In its pre-Budget recommendations for the domestic steel sector, the chamber also suggested incentives for waste-heat recovery systems and the establishment of renewable captive power plants to curb emissions. The industry body noted that decarbonisation presents both a challenge and a competitive opportunity, asserting that these measures can accelerate sustainable production. Assocham further pitched for incentivising scrap collection and recycling, noting that strengthening domestic recycling infrastructure through skilling is essential to reduce the country's dependence on imports. Highlighting the challenges, Asso

Buoyant demand has failed to push steel prices amid an increase in production and imports, threatening to slow expansion plans and limit companies' ability to reinvest in capacity addition

Domestic steel prices have slumped to a five-year low, trading in the range of Rs 47,000-?48,000 per tonne impacted by multiple factors, including surging imports, as per market data from BigMint. Hot rolled coil (HRC) prices are hovering around Rs 47,150 per tonne, while re-bar (TMT) is quoted in the range of Rs 46,500-47,000 per tonne in the wholesale market. The last time prices were at such levels was in 2020, when HRC was trading at Rs 46,000/tonne levels and rebar at Rs 45,000/tonne amid the pandemic slowdown. The current decline is largely attributed to weak export demand, rising imports, and an oversupply in the global market. India's steel exports have fallen sharply, pressured by aggressive export pushes from countries like China, while imports are still active, despite several measures introduced by the government. Falling prices amid rising imports is a matter of concern as inbound shipments are increasing despite several measures introduced by the government. Taking

India's steel imports rose 22 per cent in 2023-24 due to cheaper global prices, but growth slowed in the second half of 2024-25 after safeguard duties were imposed to curb dumping

Tata Steel reported lower Q1 production in India, but saw strong growth in automotive, retail, and online sales. European operations remained steady

India has extended import curbs on low-ash metallurgical coke, a key steelmaking input, from July 1 to December 31, 2025, to regulate supply and trade

JSW Steel posts 15.7 per cent YoY rise in Q4FY25 profit to ₹1,503 crore on better margins and lower coking coal costs, but FY25 profit drops 60 per cent