Page 3 - Steel Industry

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

India's steel demand to triple by 2050 as China's share contracts: WoodMac

India's steel demand is forecast to grow strongly as China's share falls to 31% by 2050, with rising consumption in India and Southeast Asia reshaping global trade flows

US tariffs: Govt to launch outreach in 40 nations to push textile exports

India is planning dedicated outreach programmes in 40 countries, including the UK, Japan, and South Korea, to push textiles exports amid a 50 per cent tariff imposed by the US on Indian products, an official said on Wednesday. Other nations include Germany, France, Italy, Spain, the Netherlands, Poland, Canada, Mexico, Russia, Belgium, Turkiye, the United Arab Emirates, and Australia. "In each of these 40 markets, this is proposed to pursue a targeted approach, positioning itself as a reliable supplier of quality, sustainable, and innovative textile products with the lead role of the Indian industry, including EPCs and Indian Missions in these countries," the official said. India already exports to over 220 countries, but the 40 importing countries hold the real key to diversification. Together, these 40 countries represent more than USD 590 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share, which currently stands at only arou

Steelmakers seek sevenfold rise in met coke import quota amid supply crunch

India, the world's second-largest crude steel producer, in June extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting in July

JSW Steel, South Korea's Posco sign pact for steel plant in India

Both the steel makers signed non-binding heads of agreement (HoA) in Mumbai, according to a joint statement issued by the companies on Monday

Steel firms hail govt for recommending safeguard duty on flat steel imports

The domestic steel industry has welcomed the commerce ministry's move to recommend imposition of a safeguard duty on imports of certain flat steel products, saying that such measures help India become self-reliant in the sector. In a statement, Naveen Jindal, President of Indian Steel Association (ISA), said recommendation of a safeguard duty on flat steel imports for three years is a welcome step. "While the proposed 12 per cent duty may not fully reflect the geopolitical context where 25 per cent is often considered the norm, it demonstrates clear government support for using such measures to promote Aatmanirbhar Bharat in steel," he said. Jindal, who is also the chairman of Jindal Steel, said introducing a safety net through minimum import prices, below which the recommended duty would be triggered, is also a positive move to protect and support the downstream industry. The Directorate General of Trade Remedies (DGTR), under the Ministry of Commerce, has recommended final ...

Govt imposes anti-dumping duty on certain steel imports from Vietnam

This comes a year after the ministry initiated a probe on some steel imports from the Southeast Asian country to analyse threats and consequential injury to India's steel sector

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

Stainless steel manufacturers seek anti-dumping duties on cheap imports

The domestic stainless steel industry has filed a petition with the Directorate General of Trade Remedies (DGTR) to consider anti-dumping duties on cheap imports, which are posing a challenge to local players, Jindal Stainless Managing Director Abhyuday Jindal has said. The Indian Stainless Steel Development Association (ISSDA), on behalf of the industry, has filed the application to investigate the dumping of stainless steel items in the domestic market from a select group of countries, Jindal said, adding that the industry is now waiting for the DGTR to begin its investigation. The DGTR, under the Ministry of Commerce, is the apex authority for administering all trade remedial measures, including antidumping, countervailing duties and safeguard measures. In an interaction with PTI, Jindal said that the application was filed around the end of June. "DGTR also takes two to three months to start an investigation," he added. When asked if there is a need for a duty on an urgent basis