 "India informed the World Trade Organisation (WTO) that it has decided to impose retaliatory measures against the European Union's (EU's) steel tariffs that has been in effect since 2018, and was extended till June 2026.")
The domestic steel industry could face several stresses in the near-to-medium term. There is the threat of cheap imports amid weak global demand. A new proposal from the Karnataka government could impose retrospective taxes reaching back to 2005. The July-September quarter (Q2) of financial year 2025 (FY25) was poor with aggregate EBITDA edging towards the negative zone. Following through with capex plans will push up leverage.
In November 2024, the per tonne prices of flat steel products, both HRC (hot rolled) and CRC (cold rolled), stayed flat month-on-month (M-o-M) at Rs 48,000 and Rs 55,500, respectively due to weak global
