Steelmakers

India's stainless steel demand to grow 7-8% annually over 2-3 years: ISSDA

The demand for stainless steel in the country is expected to grow in the range of 7-8 per cent Y-O-Y over the next three years, the Indian Stainless Steel Development Association (ISSDA) said on Wednesday. The overall consumption of stainless steel reached 4.8 million tonnes in FY25, registering a Year-On-Year (Y-O-Y) growth of about 8 per cent, ISSDA President Rajamani Krishnamurti said at the Global Stainless-Steel Expo 2025 (GSSE 2025). Around 10,000 industry leaders, policy makers and experts from India and abroad, as well as government representatives, are attending the event. "India is likely to retain the highest GDP growth among economies of the world. The stainless steel demand is expected to grow by 7-8 per cent in the next 2-3 years," Krishnamurti told participants at the three-day conference. The per capita steel consumption in India stands at around 3.4 kg as against the world average of over 6 kg, he added. Low consumption as against the world average provides a grea

US tariffs on steel, aluminium to have minor impact on India, says minister

Steel and Heavy Industries Minister HD Kumaraswamy's reaction comes even as industry leaders have raised concerns about potential trade diversions due to Trump tariffs

What's behind the 2% decline in Nifty Metal index today?

As per media sources, the US government is likely to increase tariffs on imported steel and aluminium from existing 25% to 50% starting June 4, to support domestic manufacturing of metal in the US.

Indian steelmakers eye robust growth in FY26 but China clouds gather

Steel imports started dropping in the lead-up to the government's provisional safeguard duty - a measure aimed at protecting domestic producers from a flood of cheap imports

Tata Steel advances green steelmaking plans through major crane project

Tata Steel UK has taken another major step in its journey to produce green steel, with a new contract awarded to JASO Industrial Cranes, a leading manufacturer of process cranes globally. As part of Tata Steel's 1.25 billion pound investment in sustainable steel production at Port Talbot in the UK, JASO will supply seven high-capacity process girder cranes to support the operation of the plant's Electric Arc Furnace (EAF) facility. When fully operational in 2028, Tata Steel's Electric Arc Furnace will be one of the largest in the world and reduce the site's carbon emissions by 90 per cent - equivalent to five million tonnes of CO2 a year. Key components of the contract with JASO Cranes include 500-tonne capacity cranes for handling liquid steel ladles, essential for the efficient operation of the new steelmaking facility, two 80-tonne scrap cranes to feed the Electric Arc Furnace via an integrated conveyor system, ensuring a steady supply of raw materials, and two 35-tonne cranes fo

India's finished steel imports fall 11.3% in Apr on slower China shipments

Finished steel shipments from China fell to 0.1 million metric tons in April, down 26.5 per cent from a year ago

ArcelorMittal warns of trade disruption despite strong quarterly profit

ArcelorMittal shipped about 13.6 million tons of steel in the first quarter, slightly up from the year-ago period

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

A sharp focus on innovation, sustainability, and strategic investments has cemented JSW Steel's position at the forefront of the industry, say group officials

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

Govt recommends 12% provisional safeguard duty on select steel items

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

SAIL to set up new rail mill with $800 million investment: Chairman Prakash

SAIL is bullish on the demand for rails in the country and has decided to set up a new rail mill at an investment of USD 800 million, the company's Chairman Amarendu Prakash said on Saturday. The company has decided to go ahead with the investment plan despite not having any order indication from its largest buyer Indian Railways, Prakash said at a panel discussion at the Global Business Summit (GBS) in the national capital. The chairman said such kind of confidence is a result of growth oriented policies of the government. "Last week, we decided to put up an 800 million USD investment into a mill, because I am confident that railways will go nowhere and they will have to buy from me if I put up a mill. So, I have taken a decision like that. So, that is the kind of confidence that comes when the policies we know are growth oriented, and they are bound to continue," he said. Prakash said SAIL had been following up with the Railways for the past seven years for their future demand so

Kamdhenu results: Net profit grows 12% to Rs 12.5 crore, revenue up 13%

Steel maker Kamdhenu Ltd on Thursday posted a 12 per cent rise in its net profit to Rs 12.5 crore in the December 2024 quarter, aided by higher revenues. It reported a net profit of Rs 11.11 crore in the October-December period of the preceding 2023-24 fiscal, the Kamdhenu Group company said in a regulatory filing. The company's revenue from operations also rose by 13 per cent to Rs 175 crore from Rs 155 crore in the year-ago period. "We enter the fourth quarter on a positive note. The profit numbers align with our focus on profitable growth and maintaining strong margin discipline, underscoring our commitments," its Chairman and Managing Director Satish Kumar Agarwal said. Sharing his outlook, he said the demand for TMT bars in India is poised for strong growth, fuelled by infrastructure development, urbanisation, and government initiatives such as smart cities and affordable housing, as highlighted in the Union Budget 2025. Kamdhenu has a 20 per cent market share in the organise

Surya Roshni Q3 results: Net profit marginally down at Rs 89.9 crore

Steel GI pipes and lighting products maker Surya Roshni Ltd on Thursday reported a marginal decline in its consolidated net profit to Rs 89.9 crore in the December quarter. The company reported a net profit of Rs 90.1 crore for the October-December quarter a year ago, according to a regulatory filing from Surya Roshni. Its revenue from operations in the December quarter slipped 3.6 per cent to Rs 1,867.96 crore. It stood at Rs 1,937.80 crore in the corresponding quarter a year ago. "Revenue slightly declined by 4 per cent due to a decline in average HRC (Hot-rolled coils) price by 18 per cent on YoY (Year-on-Year) basis," the company said in its earnings statement. The company's revenue from the 'Steel Pipe & Strips' segment declined 7.7 per cent to Rs 1,417.14 crore in the October-December quarter. The same was Rs 1,535.70 crore in the corresponding quarter. "Steel Pipes business exhibited strong sequential recovery, driven by higher volumes and improved institutional sales. ...

Budget 2025: Steel makers expect protectionist measures to prevent dumping

Domestic steel makers said they are expecting protectionist measures in the upcoming Budget to safeguard the sector from dumping. AMNS India CEO Dilip Oommen said he expects the government to continue its focus on infrastructure development while enhancing the ease of doing business. Finance Minister Nirmala Sitharaman will present the Union Budget for the 2025-26 financial year in Parliament on February 1, 2025. JSW Steel Joint MD & CEO Jayant Acharya said a level-playing field and measures against unfair trade will be essential for maintaining growth momentum of the Indian steel industry. Synergy Steels Managing Director Anubhav Kathuria said the Budget may also consider fiscal incentives and logistical support to offset high input costs, which squeezed out margins in 2024. JSL MD Abhyuday Jindal said, "We urge the government to raise the basic customs duty on stainless steel products to 15 per cent for all non-free trade agreement countries." These steps will further strengthe

As tariffs loom, Gillette razor-maker P&G sources more steel from India

The stainless steel the Gillette-brand razor maker uses is highly specialised to prevent nicks and cuts and is only produced in large quantities by a handful of companies

World's biggest steelmakers failing to switch to renewables: Survey

Steel is responsible for 7% of global carbon dioxide emissions, around the same as India, with coal-fired blast furnaces producing 2 metric tons of CO2 for each ton of output

JSW Steel, SAIL seek Mongolian coking coal imports amid high steel demand

JSW Steel plans to purchase 2,500 metric tons, while SAIL aims to secure 75,000 metric tons of coking coal from Mongolian

This BSE smallcap stock has zoomed 88% in 4 days; up 179% in 3 months

JSW Holdings, however, had reversed the day's gain and was quoting 6% lower, while the company issued a clarification on rise in trading volume at the counter.

CRGO steel shortage could impact India's power sector expansion plans: GTRI

Shortage of Cold-Rolled Grain-Oriented (CRGO) steel used for making transformers and electric motors could impact India's ambitious power sector expansion plans, think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said that India's power sector is facing a 30 per cent shortage of CRGO steel, essential for electric motors and transformers. With domestic production meeting only about 10-12 per cent of demand, India relies heavily on imports, it added. It said the immediate cause of the CRGO steel shortage is import uncertainty caused by the delayed license renewals by the Bureau of Indian Standards (BIS) for many foreign suppliers from Japan, South Korea and China. Many of the licenses are set to expire soon, causing shortages and uncertainty in the power sector, it said, adding that foreign suppliers require BIS certification under a Quality Control Order, which ensures quality but restricts options to a few approved grades and vendors. The entire BIS proces

Govt breaking promises, planning to privatise C'garh steel plant: Congress

The Congress on Saturday claimed the government has gone back on its promise and is finalising plans to privatise the Nagarnar Steel Plant in Chhattisgarh's Bastar after "failing to heed the words" of the state's political leadership. The opposition party's general secretary in-charge communications Jairam Ramesh posted on X a media report that claimed the Union Ministry of Finance is likely to invite financial bids for Chhattisgarh-based NMDC Steel (NSL) in the next two months. "Kya hua tera waada, Woh kasam woh irada! It appears that NMDC Steel in Bastar will now definitely be privatized before the end of FY25. "Aap chronology samajhiye: On October 3, 2023, the non-biological PM inaugurated the Steel Plant and promised that the Nagarnar Steel Plant is the property of the people of Bastar and will remain with them," Ramesh said in a post on X. In the same post, the Congress leader said, "On October 19, 2023, Swayambhu Chanakya reiterated the PM's promise that the NMDC's Bastar Ste