Page 2 - Steel Imports

Govt announces formula for classifying green steel based on emissions

Steel produced with emissions below 1.6 tonnes per tonne of alloy would be classified as 'five-star green-rated steel', the cleanest of the three

Govt considering proposal to impose safeguard duty on steel imports

The government is considering a proposal to impose safeguard duty on steel imports, Union Steel Minister H D Kumaraswamy said on Thursday. "The process is going" on the ministry's proposal to impose a 25 per cent duty on steel imports, Kumaraswamy told PTI on the sidelines of an event here. On December 2, the steel ministry in a meeting with the commerce department had proposed for a 25 per cent safeguard duty on certain steel products imported into the country. The steel minister and Commerce and Industry Minister Piyush Goyal were present in the meeting. A final call on imposing the duty can be taken by the finance ministry on recommendations of the ministry of commerce. Domestic steel players have been consistently raising concerns over increasing cheap imports of steel from select nations, affecting their competitiveness. Steel Secretary Sandeep Poundrik last month said more than 60 per cent of steel imports come from FTA (free trade agreement) countries at nil duty and any du

Surge in finished steel imports sparks industry woes, policy dilemmas

It remains to be seen how the government charts out a path to address the competing concerns and resolve the matter

Wet blanket on further investment if imports not curbed: AM/NS India CEO

Steel flat product plants are undergoing a massive margin squeeze; the results speak for themselves

India's steel imports from China hit record high, latest data shows

China, the world's biggest steel producer, shipped 1.7 million metric tons of finished steel to India during April-October, a 35.4 per cent increase year-on-year, the data showed

Steel ministry proposes 25% safeguard duty on import of certain steel items

Taking up the concerns of domestic steel industry, the steel ministry on Monday proposed for a 25 per cent safeguard duty on import of certain steel items into the country. The proposal came at a meeting between Union Minister of Steel H D Kumaraswamy and Commerce and Industry Minister Piyush Goyal in the national capital, sources said. Senior officials from both the ministries and executives of top steel making companies like SAIL, Tata Steel, JSW Steel and AMNS India also attended the meeting, they said. "Held a meeting with stakeholders from the steel and metallurgical coke industries along with my colleague & Minister of Heavy Industries and Steel @HD_Kumaraswamy ji," Goyal said in a post on X. "With both industries playing a vital role in India's development journey, discussed ways to boost production, enhance quality, and further strengthen global competitiveness," the minister said. According to Kumaraswamy, the two ministries discussed ways to collaborate and ensure ease .

Steelmakers urge govt to impose temporary tax to check cheap imports

India, the world's second-biggest crude steel producer, became a net importer of the alloy in the fiscal year to March 31, 2024 and the trend has continued since, with imports rising steadily

Govt working to address issues related to steel imports: Kumaraswamy

The government is working to address the issues related to steel imports, Union Steel Minister H D Kumaraswamy said on Tuesday. The industry has apprised the ministry and it is aware of the issue, Kumaraswamy told PTI on the sidelines FICCI's Conference on 'Electric Vehicles Accelerating E-mobility: Enablers and Imperative'. "Some issues are there. They (steel players) are telling some substandard material is getting imported from some countries. For that we are working," he said. Domestic steel players have been consistently raising their concerns over rising cheap steel imports from select nations, affecting their competitiveness. Steel imports have risen by nearly 50 per cent in the first six months of FY25 compared to the same period last year, with China being the largest contributor, BigMint CEO Dhruv Goel said. "This surge is primarily driven by increased Chinese steel exports due to slowing domestic demand there. China's exports are projected to surpass 100 million tonnes

India's Apr-Oct finished steel imports at seven-year high: Govt data

India's steel ministry favours a safeguard duty or a temporary tax to curb rising steel imports, a senior government official

Steel ministry favours temporary tax to check imports, says report

India, world's 2nd biggest crude steel producer, became a net importer of the alloy in the fiscal year to Mar 31, 2024, and the trend has continued since then, with imports from China rising steadily

Govt set to tighten quality norms amid rising substandard steel imports

The Centre is preparing to expand its steel quality control norms following a review that revealed an increase in substandard imports, primarily from China, threatening local industry

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

China was the largest exporter of finished steel to India during this period, followed by South Korea and Japan, primarily shipping stainless steel, hot-rolled coil steel, galvanised sheets, plates

India steel market hit by unfair imports amid slump in China: Ex-steel secy

Indian steel market is hit by unfair imports and dumping amid a demand slump in China and the government needs to take action in a time-bound manner, former steel secretary Nagendra Nath Sinha has said. "If you take flat steel products, imports are certainly an issue. The slump in the Chinese market has really shaken the (domestic) market," Sinha, who superannuated on July 31, said at the 7th edition of BigMint's Indian Iron Ore and Pellet Summit on Friday. He also warned of the price realisations getting affected due to surging imports impacting the profitability of steel makers. "To the extent the imports currently happening are unfair and there is dumping going on and the Indian government should certainly respond to them in a timeframe," Sinha said. His statement assumes significance as local steel players have been raising the issue of imports for months from select countries including China. Steelmakers have raised concern that India is becoming a net importer of steel agai

India remains net steel importer in April-July on rise in Chinese shipments

India imported 2.69 million metric tons of steel between April and July, and exported 1.57 million tons, the data showed

Cheap Chinese imports hurting domestic market: Tata Steel's T V Narendran

Tata Steel MD and CEO warned that low-priced Chinese steel may impact Indian cos capex plans

Steel industry in talks with govt for level-playing field: Sajjan Jindal

Cheap imports affecting domestic companies' margins, says chairman and managing director of JSW Steel

India's plan for raw material curbs ignores Red Sea crisis: Arcelor-Nippon

The curbs planned by the world's second-biggest producer of crude steel could hit output, as they cap imports of a steelmaking fuel, low ash metallurgical coke

Need to be watchful about steel imports amid surge, says T V Narendran

As steel imports continue to surge, Tata Steel CEO T V Narendran has said there is a need to be watchful about the situation. The comment comes at a time when India has reported a 38 per cent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during the 2023-24 financial year. Speaking to PTI, the industry executive said, "It would be a pity if the situation continues in the long run. We have to be watchful about imports." As long as it is unfair imports, the government needs to deal with it, Narendran said without elaborating further. Steel consumption is expected to grow 8-10 per cent in the ongoing 2024-25 fiscal year, he said in reply to a separate question on demand. Steelmakers have been raising concerns on increasing imports from certain countries, including China and seeking the government's intervention on the issue. Domestic players have also been demanding a curb on imports and review of free trade agreements (FTAs) with several ...

India's Apr-Jan steel imports at 6-year high as China shipments surge

India imported 6.7 million metric tons of finished steel between April and January, up 35 per cent from a year earlier, the data showed

Steel imports hit five-year high in April-December amid soaring demand

India's steel demand is likely to stay strong as the government expects economic growth will outpace the global economy in the next fiscal year