Page 4 - Steel Imports

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

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

China was the largest exporter of finished steel to India during this period, followed by South Korea and Japan, primarily shipping stainless steel, hot-rolled coil steel, galvanised sheets, plates

India steel market hit by unfair imports amid slump in China: Ex-steel secy

Indian steel market is hit by unfair imports and dumping amid a demand slump in China and the government needs to take action in a time-bound manner, former steel secretary Nagendra Nath Sinha has said. "If you take flat steel products, imports are certainly an issue. The slump in the Chinese market has really shaken the (domestic) market," Sinha, who superannuated on July 31, said at the 7th edition of BigMint's Indian Iron Ore and Pellet Summit on Friday. He also warned of the price realisations getting affected due to surging imports impacting the profitability of steel makers. "To the extent the imports currently happening are unfair and there is dumping going on and the Indian government should certainly respond to them in a timeframe," Sinha said. His statement assumes significance as local steel players have been raising the issue of imports for months from select countries including China. Steelmakers have raised concern that India is becoming a net importer of steel agai

India remains net steel importer in April-July on rise in Chinese shipments

India imported 2.69 million metric tons of steel between April and July, and exported 1.57 million tons, the data showed

Cheap Chinese imports hurting domestic market: Tata Steel's T V Narendran

Tata Steel MD and CEO warned that low-priced Chinese steel may impact Indian cos capex plans

Steel industry in talks with govt for level-playing field: Sajjan Jindal

Cheap imports affecting domestic companies' margins, says chairman and managing director of JSW Steel

India's plan for raw material curbs ignores Red Sea crisis: Arcelor-Nippon

The curbs planned by the world's second-biggest producer of crude steel could hit output, as they cap imports of a steelmaking fuel, low ash metallurgical coke

Need to be watchful about steel imports amid surge, says T V Narendran

As steel imports continue to surge, Tata Steel CEO T V Narendran has said there is a need to be watchful about the situation. The comment comes at a time when India has reported a 38 per cent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during the 2023-24 financial year. Speaking to PTI, the industry executive said, "It would be a pity if the situation continues in the long run. We have to be watchful about imports." As long as it is unfair imports, the government needs to deal with it, Narendran said without elaborating further. Steel consumption is expected to grow 8-10 per cent in the ongoing 2024-25 fiscal year, he said in reply to a separate question on demand. Steelmakers have been raising concerns on increasing imports from certain countries, including China and seeking the government's intervention on the issue. Domestic players have also been demanding a curb on imports and review of free trade agreements (FTAs) with several ...

India's Apr-Jan steel imports at 6-year high as China shipments surge

India imported 6.7 million metric tons of finished steel between April and January, up 35 per cent from a year earlier, the data showed

Steel imports hit five-year high in April-December amid soaring demand

India's steel demand is likely to stay strong as the government expects economic growth will outpace the global economy in the next fiscal year

India net importer of steel in April-Nov, Chinese shipments reach 5-yr high

The world's top steel producer exported mostly hot-rolled and cold-rolled coil or sheets to India, followed by plates, and pipes

Govt envisions PLI 2.0 for steel sector in 2024; curbs on imports awaited

The government is working on Production Linked Incentive (PLI) scheme 2.0 as well as looking at ways to ensure adequate raw material supply for the steel sector in 2024, according to Union minister Faggan Singh Kulaste. While a robust economic growth will increase the demand for steel, industry players remain concerned about rising imports and high raw material prices amid geopolitical uncertainties. Production and consumption of steel have shown a strong recovery after the coronavirus pandemic that impacted the sector in 2020-21. During the April-November period this year, the cumulative production of crude steel was 94.01 Million Tonnes (MT), up 14.5 per cent year-on-year. The consumption of finished steel jumped 14 per cent to 86.97 MT on an annual basis during the same period, as per data from the steel ministry. India has set a target of having an installed steel manufacturing capacity of 300 MT by 2030. At present, the country has a capacity of around 161 MT. "We are prepari

India's steel import to be elevated at 6MT in FY24 on strong demand: CRISIL

India imported 4.26 MT finished steel in April- November 2023 and the import may touch 6 MT mark in the current fiscal mainly on account of strong domestic demand, according to a report by Crisil. The report comes at a time when steel players are registering strong concerns of surging imports. Global steel demand, which has been subdued since the onset of the Russia-Ukraine conflict, is expected to grow 1.6 per cent in 2023, after a sharp fall of 3.3 per cent in 2022, the global analytics company said. The tepid rate of growth rides largely on a buoyant 13 per cent growth in demand in India, which has bucked the trend so far, Crisil said. This fiscal, the steel sector in India is poised to clock its third consecutive year of double-digit growth at 11-13 per cent after growing 11.4 per cent and 13.4 per cent in fiscals 2022 and 2023, respectively. "Strong domestic demand, supported by government spending on infrastructure, building and construction segments, is expected to keep Ind

Ministry holds review meeting on surging steel imports from China, Vietnam

The government has reviewed the steel import situation amid concerns raised by the domestic industry over the increased inward shipments, according to an industry official. Steel players have been raising concerns with various ministries including steel and commerce over the surge in steel imports from select countries like China and Vietnam. The Ministry of Steel on Wednesday held a meeting to review the import situation in the country, an industry executive said. The meeting was chaired by steel secretary Nagendra Nath Sinha and attended by representatives of various steel companies. Several ministry officials also participated in the hour-long meeting, he said. "Steel makers informed the ministry that there has been a continuous surge in imports from countries like China and Vietnam despite the same type of steel being available in India," a Steel Ministry official said. When asked about the steps, the official said any action can be initiated only after the study of details ..

India's April-Oct steel imports from China at four-year high

China, the world's top steel producer, exported mostly cold-rolled coil or sheets to India, followed by hot-rolled coil products, plates, and pipes, among others

Indian steel mills flag concerns over rising Chinese steel imports

Domestic demand in China has been sluggish since the property market ran into trouble

India's April-August finished steel imports from China at five-year high

China, the world's top steel producer, exported mostly cold- rolled coil or sheets to India

Keeping a tab on IT hardware imports: Govt looks at SIMS for template

May mandate prior registration of India-bound items