Steel Imports

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 ..

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.

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

Tata Steel seeks safeguard duties on imports amid US tariff concerns

Tata Steel's managing director TV Narendran on Tuesday pitched for safeguard duties on steel imports to protect the domestic steel industry from the indirect impact of US tariff hikes. He said many countries have initiated similar actions on steel imports, pointing out that the last three days have seen Vietnam imposing an anti-dumping duty on Chinese steel imports, and South Korea has also taken a similar decision. "We are asking for safeguard duties, which can be imposed immediately to help us," Narendran told reporters on the sidelines of the tech industry lobby grouping Nasscom's annual event NTLF here. After assuming office as the US President last month, Donald Trump ordered a 25 per cent import tax on all steel and aluminium entering the US and ended exemptions given to Canada and European steel earlier. Narendran said the Indian Steel Association has already made a submission to the government for safeguard duty, and added that it has pitched for a safeguard duty instead of

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

US tariffs may divert steel shipments to India, affecting local prices

Indian steel market may become a victim of diverted shipments putting pressure on local prices, Icra said after the US administration announced 25 per cent tariff on all steel and aluminium imports. The latest trade measures cut both ways for the domestic steel industry. First, deliveries of 4 MTPA to the US from Asian suppliers like Japan and South Korea, which till now had preferential market access, could be partly bounced-off to high-growth markets like India, Icra said. Icra noted that these two countries rank among the top three steel exporters to India, accounting for 40-55 per cent of India's overall finished and semis (finished) steel imports. Given the duty-free access on account of the free trade agreements (FTA) with India, import pressures from South Korea and Japan could increase in FY2026 as they search for alternate markets. This can exert pressure on domestic steel prices, pulling down the industry's earnings further in FY2026. Unlike South Korea and Japan, China h

US President Donald Trump's 25% tariff sounds alarm for steelmakers

The direct impact of the move is restricted to the stainless steel industry, which exported about 9 per cent of its total exports in value terms to the US

Will announce reciprocal tariffs over two days, says Donald Trump

When asked about potential retaliation from other nations over tariffs, US President Donald Trump responded, 'I don't mind'

Markets Today: Lupin, Vi, Eicher Q3; FIIs; Gold; Ajax Engineering IPO Day 2

At 6:31 AM, GIFT Nifty Futures were trading 16 points higher at 23,476, signaling a flat to positive start for Indian bourses

Trump's steel tariff threat hammers related stocks; Nifty Metal falls 3%

Steel tariff Trump news: US President Donald Trump may announce a 25-per cent tariff across all the imports of steel and aluminum as early as Monday

Trump plans to announce 25% tariffs on steel, aluminum imports today

The president also said he would announce reciprocal tariffs this week on countries that tax US imports

India remains net importer of steel in Apr-Jan; imports surge over 20%

India stayed net importer of steel with the inbound shipments rising over 20 per cent to 8.29 million tonnes during the April-January period of this fiscal, official data showed on Friday. The country had imported 6.89 million tonnes (MT) of steel in the 10-month period of 2023-24 financial year. "India was a net importer of finished steel. Import of finished steel was at 8.292 MnT, with a year-on-year (y-o-y) growth of 20.3 per cent," according to the data. Against imports, exports have shrunk to 28.9 per cent to 3.994 MT during the said period compared to 5.619 MT in April-January period of preceding fiscal year. Steel and stainless steel industry players have been consistently raising the issue of import with the government, claiming the surge in inbound shipments from select group of countries including China has affected their competitiveness. Recently Steel Secretary Sandeep Poundrik said that India needs to add 100 million tonnes (MT) of steel making capacity by 2030 on ...

'Forced' to import certain steel grades: Automobile manufacturers

Cite lack of viable alternatives meeting emission & safety norms, in letter to DGTR

India's finished steel imports from China hit 7-year high in April-Dec

China, the world's top steel producer, shipped 2.1 million metric tonnes of finished steel to India during April-December, up 13.3 per cent year-on-year, the data showed

Finished steel imports hit six-year high in April-December, up 20% YoY

The country remained a net importer of finished steel during April-December, with exports slumping 24.6 per cent

Proposed steel import duty may drive prices higher in 2025: CRISIL

In 2024, domestic steel prices fell, influenced by higher net imports

Proposed duty on steel imports may lead to steep price hike in 2025: CRISIL

Steel prices in 2025 would be much higher than the last year if the proposed safeguard duty on steel imports is imposed by the end of next month, rating agency Crisil said on Wednesday. "Domestic prices are under pressure due to global steel price decline and are expected to remain soft in 2025. Prices have a 4-6 per cent upside potential hinged on implementation of the safeguard duty. "As mills ramp up production volume from the newly commissioned capacities, increase in supply will reduce flat steel prices, but will still be higher than average price of 2024. That said, intense competition among mills to gain market share could limit the upward movement," Vishal Singh, Director-Research at Crisil Market Intelligence and Analytics, said in a statement. The imposition of a safeguard duty proposed by the industry could be a positive here. Assuming it is implemented by the end of February, steel prices in 2025 would be much higher than 2024, with the impact more prominent in the first

DGTR initiates probe into 'steel flat product' imports amid concerns

India has initiated a probe into an alleged increase in imports of certain steel flat products into the country following a complaint from the Indian Steel Association, according to a government notification. The Directorate General of Trade Remedies (DGTR), under the commerce ministry, has started the investigation into imports of 'Non-Alloy and Alloy Steel Flat Products', used in various industries, including fabrication, pipe making, construction, capital goods, auto, tractors, bicycles, and electrical panels. According to the notification of the DGTR, the Indian Steel Association, on behalf of its members - ArcelorMittal Nippon Steel India, AMNS Khopoli, JSW Steel, JSW Steel Coated Products, Bhushan Power & Steel, Jindal Steel and Power, Steel Authority of India - has filed an application under the customs tariff Act, 1975. They have sought imposition of safeguard duty on imports of these products into India. The applicant has alleged that there is a "recent, sudden, sharp and

India's finished steel imports from China reach all-time high, shows data

Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, a net importer during the period