Steel Sector

Proposed steel policy seeks AI-led detection of sub-standard steel imports

The draft steel policy seeks to put in place an AI-powered governance framework and advanced data analytics to ensure early detection of abnormal import trends and boost the competitiveness of the domestic steel industry. According to the draft National Steel Policy Vision 2047, a three-pronged strategy centred around quality assurance, fair trade and domestic capability should be adopted to reduce avoidable import dependence, strengthen India's steel ecosystem and enhance the competitiveness, resilience and long-term growth of both the steel industry and downstream manufacturing sectors. The proposed policy seeks to build a roadmap for the Indian steel industry until 2047. The government has proposed a new policy as the earlier National Steel Policy 2017 needed a relook considering the current challenges and requirements of the steel sector. Emerging priorities like artificial intelligence, machine learning and technical upgrades require greater focus. Besides scaling up the ...

India fastest-growing steel market, demand to grow 7.9% in 2026: worldsteel

India remains the world's fastest-growing major steel market, with demand projected to expand by 7.9 per cent to 172.4 million tonnes in 2026, the World Steel Association (worldsteel) said on Monday. The country's demand is expected to rise by 8 per cent in 2027 to 186.2 million tonnes (MT), the industry body said in its 'Short Range Outlook October 2026'. worldsteel said it forecasts global steel demand will remain essentially unchanged at 1,722 MT in 2026 before returning to 1.7 per cent growth in 2027 to reach 1,752 MT. However, steel demand in China - the world's largest steel-producing nation - is likely to drop by 2 per cent in 2026. In 2027, contraction in China is also expected to narrow to 1 per cent, the Belgium-based industry body said. India remains the world's fastest-growing major steel market, with demand estimated to expand by 7.9 per cent in 2026 to 172.4 MT and by 8 per cent in 2027 to 186.2 per cent. Growth continues to be broad-based. Infrastructure-led ...

Draft steel policy eyes nearly threefold rise in capacity by 2047

Roadmap envisages major expansion in slurry pipelines with support from viability gap funding, a 39 per cent cut in emission intensity, 45 MT exports and measures to expand scrap use

Govt releases draft National Steel Policy 2047, targets 604 MT capacity

The government has released a new steel policy to boost India's crude steel capacity to 604 million tonnes by 2047, enhance industry competitiveness and address key import challenges. According to the draft National Steel Policy 2047, finished steel demand will rise to 505 MT by 2047, per capita consumption to 302 kg and steel exports to 45 MT. Raw materials account for around 65-70 per cent of steelmaking costs. While India is largely self-sufficient in iron ore, it imports nearly 92 per cent of its coking coal requirement. The policy seeks to reduce import dependence through domestic mining, washery expansion, asset acquisition, long-term supply arrangements, and AI-based optimisation of coal blends. Other raw materials important for the steel sector, like Manganese, Limestone etc., will also remain in policy focus to ensure long-term resource sustainability. The secondary steel sector, comprising around 2,550 units and nearly 47 per cent of crude steel production capacity, wil

Steel Ministry asks SAIL, NMDC to explore overseas mineral assets

The Steel Ministry has asked its undertakings, SAIL and NMDC, to explore mineral assets abroad to help secure long-term raw material requirements and support input costs, an official said. Steel Authority of India Ltd (SAIL) is India's largest public sector steel-making entity, and NMDC is the country's leading iron ore player. On a query on whether steel PSUs, especially SAIL and NMDC, have been asked to look for mining assets abroad, the senior ministry official replied in the affirmative. The move will help secure future requirements and reduce cost, the official said without sharing further details. Iron ore and coking coal are two basic raw materials needed to produce steel, besides limestone and pulverised coal injection (PCI Coal), among others. While iron ore is available in abundance in the country, Indian steel makers, including SAIL, remain heavily dependent on imports for 85-90 per cent of their coking coal requirements from countries such as Australia and Mozambique.

Steel sector eyes stronger quarters as demand and realisations improve

Low inventories, stronger seasonal demand and firm prices could support steel makers, though raw material costs and domestic supply-demand trends remain key monitorables

Ashish Kacholia portfolio stock: Man Ind soars 15%; zooms 222% from Feb low

Man Industries management believes it is well poised to grow at a 22-25% CAGR over the next 3-4 years, with margin expansion of 150-200 basis points over the same period.

Domestic steel prices hit four-year high, trend to continue in H2: Report

Domestic steel prices have touched a four-year high due to costlier raw materials, especially coking coal, coupled with rise in post monsoon demand, according to market research firm BigMint. The trend is expected to continue over the remaining quarters of the ongoing fiscal year, it said in a report. Hot rolled coil (HRC) and CRC -- two of the most common types of flat steel products used globally -- are trading at Rs 64,000 per tonne and Rs 75,000 a tonne, respectively. Such levels were last seen in June 2022, BigMint data showed. From August 1, prices of HRC and CRC have increased by Rs 6,000 per tonne and Rs 8,500 a tonne, respectively. HRC and CRC were at Rs 58,000/ tonne and Rs 66,500/tonne at the start of August. The spike in prices is mainly due to rise in key raw materials coupled with an increase in demand, a BigMint analyst said. Coking coal, mainly imported, has seen a surge of around USD 65 per tonne to USD 305/tonne in just one month. While iron ore fines have seen a

CSIR-IMMT-led consortium to develop first 100% hydrogen DRI pilot plant

The CSIR-Institute of Minerals and Materials Technology (CSIR-IMMT) will lead a Rs 207-crore national pilot project to develop India's first direct reduced iron (DRI) plant running entirely on hydrogen, aimed at reducing carbon emissions from the steel sector, a senior official said. The 20-tonne-per-day pilot project has received in-principle approval from the Ministry of Steel and the Ministry of New and Renewable Energy (MNRE). It will receive Rs 113 crore in government support under the National Green Hydrogen Mission, with the remaining funding to be contributed by consortium partners. CSIR-IMMT Director Ramanuj Narayan told PTI that the facility is expected to be completed by August 2029 and will focus on developing and demonstrating hydrogen-based DRI technology suited to Indian conditions, particularly the use of domestic iron ore. The consortium led by CSIR-IMMT includes Godavari Power and Ispat Ltd, Lloyd Steel, Jindal Stainless and Thyssenkrupp Industries India. Tata St

Steel sector outlook strengthens as demand holds firm, input costs ease

Steelmakers expect strong domestic demand and volume recovery to support growth, while softer input costs and downstream investments could aid margins in H2FY27

'Sunset industry' that became the frame for India's post-reforms growth

Once labelled a "sunset industry", India's steel sector has been transformed by liberalisation, private investment and consolidation into a key driver of the country's growth

Safeguard duty, higher prices to keep steel makers' profitability steady

Crisil Ratings expects steel makers to maintain stable profitability in FY27 as higher domestic steel prices and safeguard duty offset rising coking coal, energy and logistics costs

Elevated coal costs seen capping Q1 margin recovery for steel firms

Steel producers are expected to post weaker-than-expected Q1 margin recovery as higher coking coal, freight and operating costs offset gains from stronger domestic steel prices

Govt rebuts US claims of excess capacity in steel and textile sectors

Low domestic consumption levels belie overcapacity allegations, says commerce ministry

JSW Steel Q4FY26 net profit surges on one-time gain from BPSL sale

Company plans to raise India steelmaking capacity to 62 MTPA by FY32 as quarterly revenue and sales hit record highs

SAIL's Rourkela plant posts record output across key units in FY26

Rourkela Steel Plant achieves record output across key units and improves efficiency metrics, driven by higher capacity utilisation and operational stability in FY26

Anand Rathi upgrades Tata Steel to 'Buy' on strong outlook; sees 24% upside

Anand Rathi has revised the target price for Tata Steel to ₹240, based on FY28e SoTP valuation

AM/NS India CEO Dilip Oommen to retire; Amit Harlalka named successor

AM/NS India CEO Dilip Oommen will retire on June 30 after over two decades, with CFO Amit Harlalka set to take over as chief executive from July 1

West Asia crisis: Jindal Steel doubles Angul complex capacity to 12 MTPA

Jindal Steel doubles Angul complex capacity to 12 MTPA, strengthening domestic production and reducing import dependence amid global supply disruptions

Jindal Stainless commissions Indonesia melt shop, plans ₹900 cr capex

Jindal Stainless has commissioned a 1.2 MTPA melt shop in Indonesia and plans Rs 900 crore investment to expand downstream cold rolling capacities