Page 2 - Steel Imports

Govt protecting local steel players from dumping, low prices: Piyush Goyal

India is poised to contribute significantly to global steel demand, Union Minister Piyush Goyal said on Friday while emphasising that the government has been able to protect the domestic steel industry from unfair dumping and irrationally low pricing. Speaking on the sidelines of the Steel India 2025 event here, jointly hosted by the Ministry of Steel and industry body Ficci, Goyal also said both exporters and the MSME sector will continue to get steel at international prices. "India is consistently focused on self-reliance (Atmanirbharta). But when we talk about Atmanirbharta, we are not closing the doors to the world. We are in fact opening the doors wider because every country will have its competitive advantages for different products," he said. The Indian steel industry is a very highly efficient and cost-effective, high-quality producer, the Union Commerce and Industry Minister said. "Therefore we believe that this is one sector where we will not only meet the growing needs o

Safeguard duty to curb influx of steel import from select countries: ISA

The government's decision to impose a 12 per cent provisional safeguard duty on imported flat steel products will help curb "the influx of cheap imports, primarily from China, South Korea, and Japan", the Indian Steel Association (ISA) said on Wednesday. According to the industry body, these countries alone contributed around 78 per cent to the overall imports in FY25. "This measure aims to curb the influx of cheap steel imports, primarily from China, South Korea, and Japan," the ISA said in a statement. Further, ISA said India became a net importer of finished steel for the second consecutive year, with imports reaching a nine-year high of 9.5 million metric tonnes in 2024-25. ISA said that the DGTR has recommended this duty following an investigation initiated in December 2024. The probe revealed that the sharp increase in imports of non-alloy and alloy steel flat products was causing significant injury to domestic producers, it said. "We are grateful for the government's decis

Safeguard duty of 12% on steel may halt imports, hit MSMEs, says GTRI

Imposition of 12 per cent safeguard duty on five steel product categories may halt their imports and force importers to buy these goods from domestic players, who are likely to raise prices following the levy, think tank GTRI said on Tuesday. It said since Indian producers can not meet demand for specialised steels like abrasion-resistant plates, imports are essential but the new safeguard duty could raise input costs by 8-10 per cent, just like the recent hikes by local steel mills. The Global Trade Research Initiative (GTRI) said that "12 per cent safeguard duties with high threshold values, is expected to halt most imports, effectively forcing buyers to shift to domestic suppliers. Indian steel companies are likely to exploit this policy to raise prices further, a trend already evident with an 8-10 per cent price increase seen in recent months following news of the safeguard proposal." It raised concerns that the DGTR (Directorate General of Trade Remedies) recommended these duti

US tariffs may shift trade, increase India's steel import risk: Sail chair

The imposition of higher tariffs by the US may change the global "trade flows", increasing the chances of India becoming more vulnerable to steel imports, SAIL Chairman Amarendu Prakash said on Wednesday. The Donald Trump administration has proposed a 25 per cent tariffs on all steel and aluminium imports into the US and also announced imposing reciprocal tariffs on all its trading partners including India with effect from April 2. Responding to a query on the US tariff moves, Prakash said it may change the trade flows. Traditionally steel has been travelling (exporting) from Asian countries to the US and Europe. Some steel was being exported to the US from Europe. Once the reciprocal tariffs take effect, such exports would become unviable. "That will mean Asian countries -- China, South Korea, Japan -- that are exporting to Europe, that steel becomes free and will be floating around in the world. This floating trade might come to India," he said. When asked if the tariff will imp

India's April-February finished steel imports up nearly 16%: Govt data

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

EU proposes cutting steel imports by 15% from April as Trump tariffs bite

European steel producers already battling high energy prices and competition from Asia and elsewhere warn that the EU risks becoming a dumping ground for cheap steel diverted from the US

New quality norms for steel parts may hurt small manufacturers: Think tank

Steel fasteners are critical for stability, durability, and safety across various industrial sectors

Govt gets 73 applications under 2nd round of PLI for speciality steel

The government has received 73 applications under the second round of production linked incentive (PLI) scheme for specialty steel, Sandeep Poundrik, secretary in the Union steel ministry, said on Wednesday. The PLI schemes were launched as part of government's efforts to increase production of special steel in India to make the country self-reliant in high grade steel, the official said on the sidelines of 'Catalyzing R&D in Indian Steel Sector' event in the national capital. "We are ensuring that substandard steel is not imported into the country. So we are focusing on quality control orders so that both domestic and imported steel is of adequate quality and the products sold here are of adequate quality," he said. In addition to that the government launched two rounds of PLI. "We recently did a second round of PLI and we have received very good response in that. We have received 73 applications, 73 projects applications and this will add about 16.5 million tonnes of specialty ..

Nomura bullish on Indian steel industry; maintains 'Buy' on JSW Steel, JSPL

Nomura has set a target price of Rs 1,220 and Rs 1,080 for JSW Steel and JSPL, respectively.

Steel imports from China, S Korea, and Japan hit record high during Apr-Jan

India, the world's second-biggest crude steel producer, shipped in record quantities of finished steel during April-January

Tata Steel seeks safeguard duties on imports amid US tariff concerns

Tata Steel's managing director TV Narendran on Tuesday pitched for safeguard duties on steel imports to protect the domestic steel industry from the indirect impact of US tariff hikes. He said many countries have initiated similar actions on steel imports, pointing out that the last three days have seen Vietnam imposing an anti-dumping duty on Chinese steel imports, and South Korea has also taken a similar decision. "We are asking for safeguard duties, which can be imposed immediately to help us," Narendran told reporters on the sidelines of the tech industry lobby grouping Nasscom's annual event NTLF here. After assuming office as the US President last month, Donald Trump ordered a 25 per cent import tax on all steel and aluminium entering the US and ended exemptions given to Canada and European steel earlier. Narendran said the Indian Steel Association has already made a submission to the government for safeguard duty, and added that it has pitched for a safeguard duty instead of

Govt likely to extend import restrictions on steelmaking raw material

The reluctance of Indian steel producers to buy from local producers could prompt the government to extend these restrictions beyond June

US tariffs may divert steel shipments to India, affecting local prices

Indian steel market may become a victim of diverted shipments putting pressure on local prices, Icra said after the US administration announced 25 per cent tariff on all steel and aluminium imports. The latest trade measures cut both ways for the domestic steel industry. First, deliveries of 4 MTPA to the US from Asian suppliers like Japan and South Korea, which till now had preferential market access, could be partly bounced-off to high-growth markets like India, Icra said. Icra noted that these two countries rank among the top three steel exporters to India, accounting for 40-55 per cent of India's overall finished and semis (finished) steel imports. Given the duty-free access on account of the free trade agreements (FTA) with India, import pressures from South Korea and Japan could increase in FY2026 as they search for alternate markets. This can exert pressure on domestic steel prices, pulling down the industry's earnings further in FY2026. Unlike South Korea and Japan, China h

US President Donald Trump's 25% tariff sounds alarm for steelmakers

The direct impact of the move is restricted to the stainless steel industry, which exported about 9 per cent of its total exports in value terms to the US

Will announce reciprocal tariffs over two days, says Donald Trump

When asked about potential retaliation from other nations over tariffs, US President Donald Trump responded, 'I don't mind'

Markets Today: Lupin, Vi, Eicher Q3; FIIs; Gold; Ajax Engineering IPO Day 2

At 6:31 AM, GIFT Nifty Futures were trading 16 points higher at 23,476, signaling a flat to positive start for Indian bourses

Trump's steel tariff threat hammers related stocks; Nifty Metal falls 3%

Steel tariff Trump news: US President Donald Trump may announce a 25-per cent tariff across all the imports of steel and aluminum as early as Monday

Trump plans to announce 25% tariffs on steel, aluminum imports today

The president also said he would announce reciprocal tariffs this week on countries that tax US imports

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 ...

'Forced' to import certain steel grades: Automobile manufacturers

Cite lack of viable alternatives meeting emission & safety norms, in letter to DGTR