Page 7 - Steel Industry

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

SAIL to invest Rs 30,000 cr to expand Rourkela Steel Plant to 9 MT by 2030

State-owned SAIL has plans to more than double the capacity of its Rourkela Steel Plant (RSP) to around 9 million tonne per annum at an investment of Rs 30,000 crore, a move which will boost supplies to sectors like defence, oil & gas, automobiles among others. Post expansion, which will come up over an area of 1,200 acre, RSP will alone contribute around 25 per cent to SAIL's overall 35 million tonne per annum (MTPA) production capacity target by 2030, Alok Verma, Director In-Charge, RSP told PTI in an interview. Located at Rourkela in Odisha, around 320 km from state capital Bhubaneswar, RSP holds the distinction of being the first public sector steel plant in India. It was set up in 1950s with German collaboration with an initial capacity of 1 MT. The plant became operational on February 3, 1959, when the then President of India Rajendra Prasad lit up the first blast furnace Parvati. At present, the total steelmaking capacity of Steel Authority of India Ltd (SAIL) stands at ...

New quality norms for steel parts may hurt small manufacturers: Think tank

Steel fasteners are critical for stability, durability, and safety across various industrial sectors

Govt gets 73 applications under 2nd round of PLI for speciality steel

The government has received 73 applications under the second round of production linked incentive (PLI) scheme for specialty steel, Sandeep Poundrik, secretary in the Union steel ministry, said on Wednesday. The PLI schemes were launched as part of government's efforts to increase production of special steel in India to make the country self-reliant in high grade steel, the official said on the sidelines of 'Catalyzing R&D in Indian Steel Sector' event in the national capital. "We are ensuring that substandard steel is not imported into the country. So we are focusing on quality control orders so that both domestic and imported steel is of adequate quality and the products sold here are of adequate quality," he said. In addition to that the government launched two rounds of PLI. "We recently did a second round of PLI and we have received very good response in that. We have received 73 applications, 73 projects applications and this will add about 16.5 million tonnes of specialty ..

India steel chief downplays impact of Trump tariffs on industry exports

Trump administration imposed 25% tariffs on steel and aluminium imports that took effect on Wednesday

Nomura bullish on Indian steel industry; maintains 'Buy' on JSW Steel, JSPL

Nomura has set a target price of Rs 1,220 and Rs 1,080 for JSW Steel and JSPL, respectively.

Govt awaiting clarity on tariffs before steel trade strategy: Kumaraswamy

This comes after US President Donald Trump imposed a 25 per cent tariff on imports from Canada and Mexico and a 10 per cent levy on Chinese imports

Steel imports from China, S Korea, and Japan hit record high during Apr-Jan

India, the world's second-biggest crude steel producer, shipped in record quantities of finished steel during April-January

Steel demand to grow despite global geopolitical issues: Tata Sons chairman

Tata Sons Chairman N Chandrasekaran on Monday said the demand for steel will continue to grow irrespective of the prevailing global geo-political situation. Chandrasekaran, speaking at the 186th birth anniversary celebration of Tata Steel founder J N Tata here, said the most important thing to recognise is that the demand for steel will continue to grow and the best way to face such a situation was to be prepared by maintaining efficiency and cost-management, and increase productivity". He also said the company will need help of the government, its policies, employees and workers unions for technology adoption. The management has to be bold to expand, maintain efficiency, manage cost and enhance productivity, while assuring to continue investing, including in Jamshedpur, Chandrasekaran said. Asked about the raging debate on tariffs, he said there is no point in talking about what will be the price/tariff; we have to focus on our productivity. Tariffs are import duties imposed and

JSW-POSCO to set up mega steel plant in Keonjhar district: CM Majhi

Odisha Chief Minister Mohan Charan Majhi on Sunday said a mega steel plant with an investment of around Rs 40,000 crore will be jointly set up by JSW and POSCO in Keonjhar district's Patna area. Addressing a public gathering at Champua, Majhi said, "I had vowed to set up a mega steel plant in Keonjhar district. God was kind enough to make me the chief minister to realise this dream." In addition to Patna area, the CM said steel industries would be developed in various parts of the district, with a total investment exceeding Rs 1 lakh crore. On January 28, during the 'Utkarsh Odisha-Make in Odisha Conclave,' the JSW Group, led by Sajjan Jindal, signed an MoU with the Odisha government to establish a 5 million tonnes per annum (MTPA) steel plant in Keonjhar. In October last year, the JSW Group and South Korean steel giant POSCO had signed an MoU to set up an integrated steel plant in India with an initial capacity of 5 MTPA. However, the companies have not revealed the location wher

Govt likely to extend import restrictions on steelmaking raw material

The reluctance of Indian steel producers to buy from local producers could prompt the government to extend these restrictions beyond June

EU estimates $29.3 billion hit from Trump's steel, aluminum tariffs

As part of his effort to rewrite global trade rules, Trump announced a series of duties including 25 per cent tariffs on steel and aluminum exports that could take effect as soon as March 12

Sourav Ganguly aims to operationalise steel plant project in 18-20 months

Former Indian cricket team captain Sourav Ganguly on Friday said that the steel plant project being promoted by him in a partnership at Garbeta in West Bengal's Paschim Medinipur district is expected to be operational over the next 18-20 months. The much-hyped project is expected to witness an investment of Rs 2,500 crore to establish the 0.8 million tonne per annum (MTPA) steel plant, an official said. "We're building the steel plant. But the problem is that everybody expects it to be ready in two months. But that doesn't happen realistically. Hopefully, we're looking at operations in the next 18-20 months," Ganguly said at an event. "This will be our third and biggest plant. There are several clearances required, including environmental, pollution, and government approvals, which take time," he said. The project was initially proposed at Salboni, but that didn't materialise and now the company has secured land at Garbeta, which is about 26 km from Salboni. "It will be an 8 lakh

Tata Steel's electric arc furnace project in Port Talbot gets approval

"This £1.25 billion investment is the most significant made in the UK steel industry in decades"