ArcelorMittal-Nippon say import curbs may hit India production, delay expansion
ArcelorMittal’s India joint venture warns it may have to severely curtail steelmaking and delay its expansion plans due to India’s import restrictions on low-ash metallurgical coke. The company seeks additional allocations from Poland and Japan, fearing business disruptions as local suppliers cannot meet quality requirements.
Indian steel prices may fall as US tariffs reshape alloy’s trade, S&P Global says
Indian steel prices are expected to fall sharply due to U.S. import tariffs, potentially redirecting excess supply to India. This may lead to a price correction of about 3,000 rupees per ton. The tariffs disrupt export markets and pressure local steelmakers, possibly delaying full utilization of newly added capacity.
ArcelorMittal-Nippon says import curbs may hit India production, delay expansion
ArcelorMittal’s India joint venture may need to reduce steel production due to India’s import restrictions on low-ash metallurgical coke. The company has sought additional allocations from Poland and Japan to avoid shutting down operations and delaying their $9 billion expansion plan set to increase annual capacity by 2035.
Karnataka CM Siddaramaiah asks Koppal admn to stop work on Baldota’s mega steel mill at Koppal on petition from MLAs
Chief Minister Siddaramaiah instructed the Koppal district administration to halt work on Baldota Group’s proposed Rs 54,000 crore steel factory in Kalyana Karnataka. Local MLAs, MLCs, and organizations opposed the project due to pollution concerns. Baldota Group aims to produce 10.50 MTPA, creating around 15,000 jobs, but faces opposition despite having acquired significant land and approvals.
India’s April-January finished steel imports from S.Korea, China, Japan hit record high
India’s finished steel imports from China, South Korea, and Japan reached a record high in the first ten months of the fiscal year. South Korea led by exporting 2.4 million metric tons. Imports from these countries accounted for 78% of India’s overall finished steel imports, with hot-rolled coil being the most frequent type.
India’s steel industry contemplates potential fallout from Trump administration tariffs
U.S. tariffs on steel imports may benefit Indian manufacturers by lowering steel prices, but pose challenges for the domestic steel industry. While some support cheaper steel, concerns about “steel dumping” and environmental impact arise.
India’s steel industry contemplates potential fallout from Trump administration tariffs
U.S. President Trump’s high trade tariffs on steel imports are expected to benefit small factories in India by making steel cheaper. However, India’s steel industry faces challenges including potential steel dumping and concerns about greenhouse gas emissions from coal-based production. Despite the government’s investment in cleaner methods, the focus remains on expanding coal-based steel production, impacting long-term export prospects.
Steel demand will continue to grow despite global geo-political situation: Tata Sons chairman
Demand for steel will continue to grow despite global geo-political issues, said Tata Sons Chairman N Chandrasekaran at the 186th birth anniversary of Tata Steel founder J N Tata. He emphasized the importance of efficiency, cost-management, and productivity. He also mentioned the Tata Group’s investments in semiconductor plants in Assam and Gujarat.
JSW-POSCO to set up mega steel plant in Keonjhar district: CM
Odisha Chief Minister Mohan Charan Majhi announced a joint venture between JSW and POSCO to establish a mega steel plant in Keonjhar with an investment of around Rs 40,000 crore. Additionally, steel industries across the district will see a total investment of over Rs 1 lakh crore.
Jindal Steel said to raise bid for Italian steelmaker to €4 billion
Jindal Steel has increased its offer for Italy’s troubled steelmaker to approximately €4 billion. This includes a €1 billion payment for assets and €3 billion for upgrades. Prime Minister Giorgia Meloni’s government will choose a winning bid soon among Jindal, Bedrock Industries, and Baku Steel Co.
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US tariffs: Tata Steel pitches for safeguard duties on imports
Tata Steel’s MD TV Narendran urged for safeguard duties on steel imports to shield the domestic industry from the US tariff hikes’ indirect effects. Highlighting recent actions by Vietnam and South Korea, Narendran emphasized the urgency of immediate safeguard duties over anti-dumping measures to protect investment plans. The Indian Steel Association has already requested government intervention.
India could extend import curbs on steelmaking raw material, sources say
India considers extending restrictions on low-ash metallurgical coke imports to promote local sourcing by steel mills. Government officials have encouraged local procurement to reduce dependence on foreign supplies, particularly from China and Indonesia, amidst concerns from steel producers about the quality of domestic met coke.
Financial, capacity constraints of EU’s carbon border policy may disrupt India’s steel sector: Study
The EU’s Carbon Border Adjustment Mechanism presents difficulties for India’s small and medium-sized steel enterprises due to financial and technological constraints, as per an IIM-Lucknow study. While larger steel plants might adapt, smaller ones face significant challenges, leading to unequal outcomes. The study suggests supportive measures like technology transfer and capacity-building for fair decarbonisation.
Sourav Ganguly aims to operationalise steel plant project in 18-20 months
Former Indian cricket captain Sourav Ganguly announced that the steel plant project in Garbeta, Paschim Medinipur, is set to be operational in the next 18-20 months. The project, a partnership with Captain Steel, involves an investment of Rs 2,500 crore and will have a 0.8 million tonne annual capacity.
Industry waiting for govt’s action to check steel imports: Tata Steel CEO T V Narendran
Tata Steel CEO T V Narendran urged the government to address the surge in steel imports affecting domestic producers and warned of potential impacts on future investments. Despite expansion plans aligning with India’s vision of 300 million tonne capacity by 2030, imports, mainly from China, have depressed prices and competitiveness. The Indian government is reviewing the import issue.
India braces for big impact as Trump’s steel tariffs threaten to worsen glut of metal in Asia
India and Vietnam, fast-growing Asian steel producers, may suffer if President Trump enforces 25% tariffs on all US steel imports from March 12. This US protectionist move could intensify global steel tensions, potentially diverting steel to oversupplied markets and causing prices to drop further. Investors are anxiously awaiting the finalization of these tariffs.
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