Steel Industry Challenges
Steel Mills Cut Production as Imports Surge, Trade Deficit Widens
In a development that could put upward pressure on domestic steel prices, key Indian steel makers, barring Jindal Steel and Power Ltd (JSPL) have...
China’s Steel Surge Pressures Indian Giants as Fitch Lowers Rating Headroom
India’s steel industry is feeling the heat as Fitch Ratings downgraded the rating headroom for JSW Steel and Tata Steel. The agency cited...
AMNS India Faces Potential Output Cuts Amid Raw Material Import Restrictions
Indian government restrictions on the imports of key raw materials will force ArcelorMittal Nippon Steel Limited (AMNS) India to cut steel production and...
India’s Steel Industry Faces Mixed Prospects Amid U.S. Tariffs
The U.S. government’s move to slap a 25% tariff on steel imports has evoked mixed responses from India’s steel producers. While some manufacturers view...
Report: Safeguard Action on Steel Imports Likely to have Minimal Impact
Rising imports have prompted the Ministry to consider levying a safeguard duty on steel imports, but HDFC Securities in a recent report stated that...
Government Weighs Options to Shield MSMEs from Steel Price Surge Amid Safeguard Duty Talks
The Indian government is mulling to protect micro, small, and medium enterprises (MSMEs) from a possible increase in steel prices if safeguard duties...
India Plans Tax on Some Low-Cost Steel Imports from China
Temporary levy of 15%-25% on China-origin steel imports within 6 months scrapped Steel Minister H.D. Kumaraswamy said the move was aimed at protecting local manufacturers...
Steel Safeguard Duty Under Review: MSMEs Raise Concerns on Rising Costs
The commerce ministry investigation arm DGTR (Directorate General of Trade Remedies) has called for an investigation to scrutinize the imports of steel into...
India’s Steel Imports from China Surge 35%, Pressuring Domestic Producers
India’s finished steel imports from China soared to a record 1.7 million metric tons in the first seven months of FY2024 (April-October), marking...
