Page 6 - Steel Industry

'Chance to get Tata Steel Netherlands back to being a benchmark in Europe'

The Netherlands operation is structurally one of the most competitive assets in the steel industry across peers in Europe

Domestic demand, European turnaround keep Street positive on Tata Steel

Domestic operations in India look capable of outperforming peers with strong margin. Hence, improvement in Europe will have a positive impact

Baldota Group to enter steel sector with ₹54,000-cr project in Karnataka

Renewable energy player Baldota Group on Thursday said it plans to foray into the steel sector with an investment of Rs 54,000 crore for setting up a project in Karnataka with up to 10.5 million tonnes of (MT) production capacity. Once commissioned, the greenfield project will be the second largest steel plant in the state, creating lakhs of direct and indirect jobs, said Nagaraj N B, Vice President of the Integrated Steel Project in a company statement. According to the Karnataka-based diversified group, it currently operates in the areas of renewable energy (wind and solar), shipping, pellets, gases and mining. "We have received environmental clearance from the Ministry of Environment, Forest and Climate Change (MoEF&CC) for 3.5 MT capacity after an Environmental Impact Assessment (EIA) study. The first phase of project is expected to start this year," he added. The rest of the capacity will be added in phases over the next five years up to 2030, Nagaraj N B said. By 2030, India

Bhushan Steel buy case: Tata Steel gets tax notice, challenges in HC

Tata Steel said that the income tax return of Bhushan Steel for FY 2018-19 was accepted by the income tax department in June 2020 without any demand pertaining to the waiver of loan

Vedanta Q4 mined metal, aluminium, iron ore, saleable steel production up

Vedanta registered an increase in aluminium, mined metal, iron ore, and saleable steel output and decline in production of oil and gas in the fourth quarter of FY25. The company's aluminum production during the quarter grew marginally by 1 per cent to 6,03,000 tonnes compared to the same period in the previous fiscal year. Similarly, mined metal production at Vedanta's Zinc India division rose 4 per cent to 3,10,000 tonnes, driven by improved mined metal grades and mill recovery. The production of mined metal at the Zinc International division for the fourth quarter was 50,000 tonnes, up 52 per cent year-on-year, the company said in a statement. The conglomerate also registered a 41 per cent increase in the production of copper cathode, which stood at 44,000 tonnes. Iron ore production in the January-March period was at 2.1 million tonnes, up 22 per cent from the year-ago period. The total saleable steel production increased 4 per cent year-on-year, driven by increase in hot metal

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

Centre, Andhra framing joint action plan to strengthen Vizag Steel Plant

The central and state governments are formulating a comprehensive action plan to strengthen the Vizag Steel Plant (VPS). A delegation from the Union Ministry of Steel held discussions with Chief Minister N Chandrababu Naidu at his residence in Undavalli, Guntur district, on Monday, said an official release. "The discussions primarily focused on the developments following the NDA government's approval of a financial package for the Vizag Steel Plant and the necessary measures to be taken," the release added. Union Minister of State for Steel B Srinivasa Varma, who participated in the meeting, expressed gratitude to the chief minister for the state government's initiative in providing security to the plant through the Special Protection Force (SPF). Further, Naidu discussed key aspects with the delegation, including the regular review of the steel plant's progress and the reopening of the third blast furnace in addition to the two currently in operation. He emphasised the emotional

India proposes retaliatory tariffs as EU extends steel safeguard measures

India has proposed imposing retaliatory duties under WTO norms on certain goods imported from the EU, as the two sides have failed to reach a consensus on the European Union's restrictive safeguard measures on certain steel products. In a communication to the World Trade Organisation (WTO) dated March 27, India said it "reserves the right to suspend substantially equivalent concessions or other obligations" under a provision of the Agreement on Safeguards, on the EU's trade. The EU's measure has caused an annual trade loss of USD 1.472 billion (2023-2024) to India on which the duty collection (at 25 per cent duty) would be USD 368 million. "The measure has caused a cumulative trade loss of USD 6.92 billion to India since 18 July 2018, on which duty collection would be USD 1.73 billion," the communication said. India and the EU held consultations on March 19, 2025, in online mode on the European Union's move. "India and the EU exchanged views on the measure. The EU and India could

AM/NS India makes initial payment for land to set up steel plant in Andhra

This mega steel plant will not only create substantial employment opportunities but also foster socio-economic development for the communities and beyond, says Andhra Pradesh CM Naidu

AM/NS India commissions first scrap unit, plans three more by FY26

By processing scrap at its own facilities, AM/NS India hopes to enhance material quality and yield while reducing conversion and logistics costs, and formalising the scrap industry

Indian alloy steel makers plan anti-dumping plea against Chinese steel

India, the world's second-biggest producer of crude steel, has the capacity to make around 18-20 million metric tonnes per annum of alloy steel

Indian steel to see impact from EU's import curbs, but local demand strong

EU will reduce import quotas, known as safeguards, limiting the amount of steel that can be imported into the bloc of 27 nations tariff-free

Tata Steel appoints three Wales contractors for green steel-making project

Tata Steel has appointed three South Wales contractors to deliver key parts of its 1.25 billion pound cutting-edge green steel-making investment at Port Talbot. Over 300 skilled jobs in the local supply chain will be part of new contracts signed with Bridgend-based companies Darlow Lloyd and Sons, Wernick Buildings, and Swansea-based business, Andrew Scott Ltd. Darlow Lloyd and Sons will play a key role in the initial phases of the project, overseeing excavation, recycling, infrastructure, and drainage works essential to the site's transition to Electric Arc Furnace (EAF) steel-making. We are delighted to announce this partnership which will boost employment across Neath Port Talbot and lay the foundation for future growth across the manufacturing sector," Director Rhys Lloyd said. This collaboration safeguards our experienced workforce and allows us to appoint local experts with transferable skillsets to this once-in-a-lifetime project. Critical infrastructure, including the ...

Will safeguard duty help expand capacity in India's steel industry?

With cheap imports flooding the market, India moves to shield its steel industry - again

JSW Steel becomes world's most valuable steelmaker with $30.3 bn market cap

JSW Steel's stock has surged 18 per cent in 2025, making it one of the top performers on Nifty 50 index. With a market capitalisation of $30.31 billion, it leads its domestic & international peers

Piombino Steel to buy back 220 mn shares from JSW Steel for Rs 1,676 cr

JSW Steel on Tuesday said it will sell over 22 crore shares in its subsidiary Piombino Steel Limited (PSL) under the proposed buy-back offer for Rs 1,676.45 crore. It holds 508 crore equity shares in PSL, constituting 83.28 per cent of the total equity shareholding of PSL, JSW Steel said. The Board of Directors has approved tendering of 22,26,36,000 equity shares held in PSL, under the proposed buy-back offer at a price of Rs 75.30 per equity share. This move will help company further strengthen its balance sheet, JSW Steel said. The buyback has also been approved by the board of PSL to buyback the said number of shares from parent JSW Steel at a price of Rs 75.30 per share aggregating to a total consideration not exceeding Rs 1,676.45 crores, subject to approval of the shareholders of PSL, it added.

Metal stocks shine: HZL, SAIL, JSW Steel rally up to 10% on safeguard duty

Metal stock rally: The Nifty Metal index rose as much as 1.67 per cent to hit an intraday high of 9,185.20.

Govt recommends 12% provisional safeguard duty on select steel items

But MSMEs fear escalation in domestic prices, call for import quota

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

Govt recommends 12% temporary tax on some steel products for 200 days

DGTR has further invited comments on its findings within 30 days, following which there would be an oral hearing before making a final decision