Steel Growth

Tata Steel Q2 preview: Here's what top brokerages expect from steel major

Tata Steel Q2 preview: Brokerages project consolidated revenue in the range of ₹53,000-55,800 crore, up marginally Y-o-Y, while Ebitda is likely to rise 38-67 per cent Y-o-Y to around ₹8,500 crore.

Steel industry flags high input cost, seeks support for green transition

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

Demand to reinforce steel MSMEs amid rising costs: Crisil SME Tracker

The production of long steel increased 8.7 per cent Y-o-Y in Q1FY26, with mid and small steel mills accounting for 72.4 per cent of this production

BIS exemption granted to 202 foreign manufacturers: Steel Ministry

The steel ministry said these exemptions are an ongoing process, and more licences may be exempted as requests are received

Brokerages up target on JSW Steel despite valuation worries after strong Q1

JSW Steel posted a 158 per cent year-on-year (Y-o-Y) jump in consolidated net profit at ₹2,184 crore for the June quarter, beating Bloomberg estimates of ₹2,095 crore.

Tata Steel bets big on India growth, says Chairman N Chandrasekaran

Chandra said global steel output in FY2024-25 was stable at 1.83 bln tonnes, but despite this, margins remained under pressure due to supply chain volatility, although coking coal prices were lowe

India's stainless steel demand to grow 7-8% annually over 2-3 years: ISSDA

The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association (ISSDA) said on Wednesday. The overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025). Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event. "India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day conference. The per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he added. Low consumption as against the world average provides a grea

BPSL liquidation: SC setback may be a minor bump as JSW expands capacity

Loss of BPSL could trim JSW Steel's total steel production capacity by 12%

Will safeguard duty help expand capacity in India's steel industry?

With cheap imports flooding the market, India moves to shield its steel industry - again

Firms committed to investing Rs 27,106 cr under PLI scheme for steel: MoS

MoS for Steel and Heavy Industries Bhupathiraju Srinivasa Varma said that steel is deregulated sector and decisions such as investment, production are based on techno-commercial considerations

India remains net importer of steel in Apr-Jan; imports surge over 20%

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 ...

Tata Steel Q3 preview: Analysts estimate losses; revenue may fall up to 7%

On the bourses, Tata Steel shares closed 0.38 per cent lower at Rs 130. In comparison, BSE Sensex settled 0.43 per cent lower at 76,190.46 levels, on Friday, January 24, 2025

Rise of US Steel paralleled arrival of United States on world stage

President Joe Biden blocked the USD 15 billion acquisition of US Steel by Japan's Nippon Steel on Friday something he had first vowed to do in March. His decision comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the possible national security risks of the deal last month. The rise of US Steel, a storied American company, runs parallel to the arrival of America on the world stage. With roots dating to the late 19th century, US Steel has produced the materials used for everything from the nation's bridges and skyscrapers, to its tanks and battleships. Following is a brief history of the company. The origins of a manufacturing giant What eventually became the largest corporation in the world was created by J.P. Morgan and others who financed the merger of Andrew Carnegie's Carnegie Steel Co. with rival Federal Steel at the start of the 20th century. It instantly became the world's first USD 1 billion company. In 1907

Steel ministry urges FinMin to hike Customs duty to counter Chinese threat

The steel ministry believes that a higher import duty, if implemented, could mitigate the adverse effects of a rise in cheaper imports of finished steel, particularly from China

Capacity utilisation of domestic steel may hit 4-year low in FY25: ICRA

Following the post-Covid metals rally, the domestic steel industry was able to achieve the "impossible trinity" of maintaining above 80 per cent capacity utilisation rates

Return of bad ideas & missing reformers: Steel lobbying and lost reforms

There are three perfectly timed triggers for this week's column: Old, povertarian instincts are back; the steel industry lobbying for more import duties; and the absence of reformers like A D Shroff

JSW Steel Q2 Preview: PAT likely to fall 96% YoY; volumes, realisation eyed

Analysts noted that Q2 is typically weaker than Q1 in terms of volumes and prices due to seasonal factors like the monsoon and maintenance shutdowns.

Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL

Producers of long steel products in the secondary sector are expected to see a 7 per cent growth in their revenues in the ongoing financial year, Crisil Ratings said on Thursday. Secondary steel makers produce recycled products using electric arc furnace (EAF) and induction furnace (IF). Secondary steel players witnessed 4 per cent rise in their revenues in preceding 2023-24 fiscal year, the ratings agency said in its report. "Secondary long steel producers will see revenue grow 7 per cent this fiscal, up from 4 per cent last fiscal, riding on robust domestic demand fuelled by central government spending on housing and infrastructure," it said. This fiscal, the central government's spending on rural and urban housing and infrastructure projects, particularly under Pradhan Mantri Awas Yojana and the National Infrastructure Pipeline, will sustain demand. The uptick seen in the first half of the fiscal will pick up pace in the second half. Rahul Guha, Director, Crisil Ratings, said:

Chinese stimulus to real estate checks steel price slide, worries persist

A BigMint analyst said China's latest economic stimulus measures provided a short-term boost to steel prices, driven by infrastructure spending and interest rate cuts

Nippon Steel to sell $211 mn in assets to manage debt amid US Steel deal

The Japanese company's debt-to-equity ratio is expected to increase to 0.9 from 0.5 as a result of the US Steel deal which both companies target to close by the end of December