Page 3 - Steel Imports

India's finished steel imports from China hit 7-year high in April-Dec

China, the world's top steel producer, shipped 2.1 million metric tonnes of finished steel to India during April-December, up 13.3 per cent year-on-year, the data showed

Finished steel imports hit six-year high in April-December, up 20% YoY

The country remained a net importer of finished steel during April-December, with exports slumping 24.6 per cent

Proposed steel import duty may drive prices higher in 2025: CRISIL

In 2024, domestic steel prices fell, influenced by higher net imports

Proposed duty on steel imports may lead to steep price hike in 2025: CRISIL

Steel prices in 2025 would be much higher than the last year if the proposed safeguard duty on steel imports is imposed by the end of next month, rating agency Crisil said on Wednesday. "Domestic prices are under pressure due to global steel price decline and are expected to remain soft in 2025. Prices have a 4-6 per cent upside potential hinged on implementation of the safeguard duty. "As mills ramp up production volume from the newly commissioned capacities, increase in supply will reduce flat steel prices, but will still be higher than average price of 2024. That said, intense competition among mills to gain market share could limit the upward movement," Vishal Singh, Director-Research at Crisil Market Intelligence and Analytics, said in a statement. The imposition of a safeguard duty proposed by the industry could be a positive here. Assuming it is implemented by the end of February, steel prices in 2025 would be much higher than 2024, with the impact more prominent in the first

DGTR initiates probe into 'steel flat product' imports amid concerns

India has initiated a probe into an alleged increase in imports of certain steel flat products into the country following a complaint from the Indian Steel Association, according to a government notification. The Directorate General of Trade Remedies (DGTR), under the commerce ministry, has started the investigation into imports of 'Non-Alloy and Alloy Steel Flat Products', used in various industries, including fabrication, pipe making, construction, capital goods, auto, tractors, bicycles, and electrical panels. According to the notification of the DGTR, the Indian Steel Association, on behalf of its members - ArcelorMittal Nippon Steel India, AMNS Khopoli, JSW Steel, JSW Steel Coated Products, Bhushan Power & Steel, Jindal Steel and Power, Steel Authority of India - has filed an application under the customs tariff Act, 1975. They have sought imposition of safeguard duty on imports of these products into India. The applicant has alleged that there is a "recent, sudden, sharp and

India's finished steel imports from China reach all-time high, shows data

Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, a net importer during the period

Govt plans up to 25% temporary tax to curb cheap Chinese steel imports

The proposal gained broad support at a meeting chaired by commerce minister Piyush Goyal on Tuesday after small industries dropped initial opposition once they received assurances

DGTR probes surge in steel imports, to consult MSMEs on safeguard duty

The commerce ministry's investigation arm DGTR has started a probe into an alleged jump in steel imports and it will also consult MSME downstream industries before making its recommendations, a top government official said on Monday. Commerce Secretary Sunil Barthwal said that the ministry has received a request from the steel ministry for conducting the safeguard investigations. "The DGTR is doing it and in the investigation, they look at the whole value chain. So we are looking at not only the HR (hot-rolled) and CR (cold-rolled) coil (steel products) which is coming to India, they are also looking at the requirement of downstream industry whether there is a production imbalance or whether it is an injury because of excess capacity in steel," he told reporters here. He said that all these stakeholders are being consulted including MSMEs as well as the downstream industries, "then only the DGTR will make a recommendation" in this regard. A final call on imposing the duty can be ta

Two leading auto industry bodies send SOS to govt on steel imports

Steel inventory levels low in certain cases, could impact production: ACMA

Govt announces formula for classifying green steel based on emissions

Steel produced with emissions below 1.6 tonnes per tonne of alloy would be classified as 'five-star green-rated steel', the cleanest of the three

Govt considering proposal to impose safeguard duty on steel imports

The government is considering a proposal to impose safeguard duty on steel imports, Union Steel Minister H D Kumaraswamy said on Thursday. "The process is going" on the ministry's proposal to impose a 25 per cent duty on steel imports, Kumaraswamy told PTI on the sidelines of an event here. On December 2, the steel ministry in a meeting with the commerce department had proposed for a 25 per cent safeguard duty on certain steel products imported into the country. The steel minister and Commerce and Industry Minister Piyush Goyal were present in the meeting. A final call on imposing the duty can be taken by the finance ministry on recommendations of the ministry of commerce. Domestic steel players have been consistently raising concerns over increasing cheap imports of steel from select nations, affecting their competitiveness. Steel Secretary Sandeep Poundrik last month said more than 60 per cent of steel imports come from FTA (free trade agreement) countries at nil duty and any du

Surge in finished steel imports sparks industry woes, policy dilemmas

It remains to be seen how the government charts out a path to address the competing concerns and resolve the matter

Wet blanket on further investment if imports not curbed: AM/NS India CEO

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves

India's steel imports from China hit record high, latest data shows

China, the world's biggest steel producer, shipped 1.7 million metric tons of finished steel to India during April-October, a 35.4 per cent increase year-on-year, the data showed

Steel ministry proposes 25% safeguard duty on import of certain steel items

Taking up the concerns of domestic steel industry, the steel ministry on Monday proposed for a 25 per cent safeguard duty on import of certain steel items into the country. The proposal came at a meeting between Union Minister of Steel H D Kumaraswamy and Commerce and Industry Minister Piyush Goyal in the national capital, sources said. Senior officials from both the ministries and executives of top steel making companies like SAIL, Tata Steel, JSW Steel and AMNS India also attended the meeting, they said. "Held a meeting with stakeholders from the steel and metallurgical coke industries along with my colleague & Minister of Heavy Industries and Steel @HD_Kumaraswamy ji," Goyal said in a post on X. "With both industries playing a vital role in India's development journey, discussed ways to boost production, enhance quality, and further strengthen global competitiveness," the minister said. According to Kumaraswamy, the two ministries discussed ways to collaborate and ensure ease .

Steelmakers urge govt to impose temporary tax to check cheap imports

India, the world's second-biggest crude steel producer, became a net importer of the alloy in the fiscal year to March 31, 2024 and the trend has continued since, with imports rising steadily

Govt working to address issues related to steel imports: Kumaraswamy

The government is working to address the issues related to steel imports, Union Steel Minister H D Kumaraswamy said on Tuesday. The industry has apprised the ministry and it is aware of the issue, Kumaraswamy told PTI on the sidelines FICCI's Conference on 'Electric Vehicles Accelerating E-mobility: Enablers and Imperative'. "Some issues are there. They (steel players) are telling some substandard material is getting imported from some countries. For that we are working," he said. Domestic steel players have been consistently raising their concerns over rising cheap steel imports from select nations, affecting their competitiveness. Steel imports have risen by nearly 50 per cent in the first six months of FY25 compared to the same period last year, with China being the largest contributor, BigMint CEO Dhruv Goel said. "This surge is primarily driven by increased Chinese steel exports due to slowing domestic demand there. China's exports are projected to surpass 100 million tonnes

India's Apr-Oct finished steel imports at seven-year high: Govt data

India's steel ministry favours a safeguard duty or a temporary tax to curb rising steel imports, a senior government official

Steel ministry favours temporary tax to check imports, says report

India, world's 2nd biggest crude steel producer, became a net importer of the alloy in the fiscal year to Mar 31, 2024, and the trend has continued since then, with imports from China rising steadily

Govt set to tighten quality norms amid rising substandard steel imports

The Centre is preparing to expand its steel quality control norms following a review that revealed an increase in substandard imports, primarily from China, threatening local industry