Page 8 - Steel Industry

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

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