Page 2 - Steel Industry

There is renewed confidence in India story: JSW Steel CEO Jayant Acharya

CEO Jayant Acharya says domestic demand remains firm, expects steel prices to recover and safeguard measures to strengthen as imports rise

JSW Steel Q2FY26 results: Net profit jumps 269.7% to ₹1,623 crore

The firm's total revenue, on a consolidated basis, increased 13.8 per cent to Rs 45,152 crore from Rs 39,684 crore last year

JSW Steel Q2 results: Profit rises fourfold to ₹1,623 crore on strong sales

The company kickstarts quarterly results for the industry, which has seen steel prices drop despite the Indian government's import tariff on some steel products

EU steel duty plan: A double whammy ahead for Indian steelmakers in 2026?

The EU's plan to halve import quotas and impose a 50 per cent tariff, combined with CBAM rollout, could deliver a double blow to Indian steelmakers next year

India-EU trade pact talks progressing; steel, auto issues need resolution

Negotiations for the proposed free tarde agreement between India and the EU are progressing well, but differences still need to be ironed out in certain areas such as steel, automobiles and non-tariff barriers, a senior official said on Monday. Senior officials from India and the 27-nation European Union (EU) last week concluded the 14th round of talks for the agreement in Brussels. The five-day talks began on October 6 to iron out differences on different issues related to goods and services for the early conclusion of the negotiations. "Talks are progressing well. There are issues which need resolution such as steel and automobiles. No major issue is pending in agri," the official said. The Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the closing days of the round for providing a push to the negotiations. Agrawal held discussions with European Commission Director General for Trade Sabine Weyand during the visit. The official also said Commerce an

Tata Steel India's Q2 production rises 7% as furnace relining boosts ops

Boosted by operational normalisation post-furnace relining, Tata Steel India posted higher Q2 output and record retail deliveries amid strong domestic demand

EU plans to cut steel import quotas by nearly half to preserve industry

EU steel is currently protected by safeguards that cap imports of 26 steel grades, with 25% tariffs above those limits

DGTR recommends anti-dumping duty on Chinese electrical steel for 5 years

The commerce ministry's investigation arm DGTR has recommended imposition of anti-dumping duty for five years on imports of cold rolled non-oriented electrical steel from China, with an aim to guard domestic players from cheap inbound shipments. In its final findings, the Directorate General of Trade Remedies (DGTR) has concluded that the product has been exported to India at a price below the normal value, resulting in dumping. The recommended duty on certain Chinese firms is USD 223.82 per tonne, while on a few others USD 414.92 per tonne. "The authority recommends imposition of anti-dumping duty... for a period of five years," the DGTR has said in a notification. While the DGTR recommends the duty, the finance ministry takes the final decision to impose the same. Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime o

Steel ministry clears ₹5,000 cr scheme to boost low-emission operations

The steel ministry has approved a Rs 5,000 crore scheme to promote low-emission steel, with 80% of funds directed to the secondary sector and incentives linked to emission cuts

Steel secy warns EU carbon border rules could hit India's exports to Europe

The EU's Carbon Border Adjustment Mechanism (CBAM) will impact Indian exports to the region, and the industry has to take measures to address this "concern", Steel Secretary Sandeep Poundrik said on Wednesday. The CBAM is designed to impose a carbon price on imports from countries with lower environmental regulations, initially covering iron and steel, aluminium, cement, fertilisers, electricity and hydrogen. This is expected to be fully in place in 2026. The tariff is pegged to the carbon price in the EU Emissions Trading System (EU-ETS), which in 2026 is assumed at Rs 5,200 per tonne of CO2 equivalent, with a five per cent annual rise as free allowances in the EU are phased out. The limits of carbon emission, which are proposed in the CBAM, will definitely affect the exports, the senior ministry official said in a session at 'FT Live Energy Transition Summit India' in the national capital. He said the Indian steel industry is still predominantly using the blast furnace (BF-BOF) .

No direct impact of US tariffs on domestic industry, says steel secy

The imposition of tariffs by the US will not have a direct impact on the domestic steel industry as India's own consumption of the alloy is growing, Steel Secretary Sandeep Poundrik said on Wednesday. Besides, the exports of steel to the US is around lakh tonnes -- out of 152 million tonnes production, the senior ministry official said in a session at 'FT Live Energy Transition Summit India' in the national capital. "So, if we take direct impact on steel, it's not much because, practically speaking, we don't export much steel to the US," Poundrik said in reply to a question related to the US tariffs. Last year, India's total steel exports to the US stood at around 1,00,000 tonnes. Similarly, India does not import much steel from the US. So, the steel trade between India and the US is not very direct, he said. However, there may be some indirect impact because of the products made of steel that are traded between the two countries, Poundrik said. The domestic production of steel wa

Govt plans ₹5,000 cr scheme to promote decarbonisation: Steel secy

The government is working on a Rs 5,000 crore scheme to promote adoption of clean steel-making technologies, thereby reducing carbon emissions, Steel Secretary Sandeep Poundrik said on Wednesday. The senior ministry official made the remarks while speaking to PTI on the sidelines of the 'FT Live Energy Transition Summit India' in the national capital. "The proposal is under consideration for a National Mission for Sustainable Steel. It is a Rs 5,000 crore scheme," he said. The scheme will cover all steel makers in the country, with 75-80 per cent of the fund earmarked for secondary players, Poundrik said. It aims to promote lower carbon emissions in steel production by encouraging the use of clean technologies and alternative materials, he added. His comments assume significance as India is a signatory to the Paris Agreement and aims to become a net-zero country. Poundrik said that in the next few months, the scheme is expected to become operational. Explaining the scheme, he fu

Thyssenkrupp receives non-binding bid from Jindal Steel for TKSE unit

Thyssenkrupp said it would closely examine the offer "particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites"

West alarmed as global steel capacity set to jump 165 mt by 2027

Excess capacity of that size will inevitably lower the capacity utilisation rate to 70 per cent from 78-79 per cent now

High costs, weak infrastructure slow India's green steel transition: EY

EY India notes green hydrogen steel production costs remain nearly double conventional methods but could halve by 2030, though high costs and weak infrastructure slow adoption

Govt plans support package for steel, aluminium sectors amid US tariffs

The government is preparing a support package to help steel and aluminium industries after the US hiked import tariffs to 50 per cent, raising concerns of dumping and demand slump

Steel demand weak till September, rebound from October: Naveen Jindal

Naveen Jindal expects steel demand to rebound in October after monsoon weakness, projects double-digit growth in FY26, and calls met coke import quotas a 'permit raj'

Steel industry eyes AI to enhance value chain, green transition finance

Steel industry stakeholders will gather on Monday to discuss ways to ensure the sector's growth using artificial intelligence (AI) in value chain, financing for green transition and increasing raw material availability. The discussions will be part of the two-day Steel Conclave 2025 to be held on September 8-9 in the national capital in presence of Union Steel Minister H D Kumaraswamy and Bhupathiraju Srinivasa Varma, Minister of State (MoS) for Heavy Industries and Steel. "The event will cover leadership for growth of the steel industry, leveraging AI in the steel value chain, increasing iron ore availability for Aatmanirbharta, and financing steel's transition to green growth," apex industry body Indian Steel Association (ISA) said in a statement. Besides, the leaders will also discuss measures to decarbonising the sector, price risk management, logistics and infrastructure efficiency. ISA President Naveen Jindal said "We are working towards a resilient, future-ready steel sector

Govt plans ₹5,000 cr mission to boost green steel, cut industry emissions

The Centre is preparing a ₹5,000 crore mission to help steelmakers adopt clean technologies, focusing on secondary producers while pushing green steel demand and procurement

Favourable winds for steel stocks as China moves to cut production

Production curbs in China and a 3-year safeguard duty strengthen prospects for Indian steelmakers