Steel
Jindal Saw enters JV agreement with Buhur in Saudi Arabia
Jindal Saw approved setting up a step-down subsidiary in the UAE to build a 300,000 TPA pipe manufacturing facility in Abu Dhabi, targeting the MENA region's oil and gas sector. In Saudi Arabia, it formed joint ventures with Buhur for an HSAW pipe project and with RAX for ductile iron pipe manufacturing. Necessary approvals will be secured for these expansions.
Tata Steel aims to commission UK electric arc furnace project by 2027
Tata Steel is progressing with its low-carbon steel project in the UK. Construction at Port Talbot is expected to begin in July 2025. Operations are slated to commence by 2027. The company received necessary approvals for the USD 1.5 billion project. The transition involves shutting down upstream operations and using imported substrate.
Tata Steel looks to begin construction of EAF project in UK in July
Tata Steel is set to begin construction of its low-carbon electric arc furnace (EAF) steelmaking project in Port Talbot, UK, in July 2025, with operations slated to commence by 2027. Supported by UK government funding, this initiative transitions Tata Steel from blast furnaces to a low-emission EAF process utilizing local scrap, while also focusing on significant cost rationalization.
SAIL supplies 16,000 tonnes of steel for bridge over Chenab river: Bhilai Steel Plant official
Steel Authority of India Limited provided 16,000 tonnes of steel for the Chenab railway bridge construction. Bhilai Steel Plant contributed 12,000 tonnes. Prime Minister Narendra Modi inaugurated the first train service to the Kashmir Valley. He also inaugurated the Chenab bridge. The bridge is an engineering marvel. It can withstand high wind speeds and earthquakes.
Domestic stainless steel consumption grows 84 pc in 5 years to hit 4.8 mn tonnes in FY25: ISSDA
India's domestic stainless steel consumption surged by 84% over the past five years, reaching 4.80 million tonnes in FY 2024-25, driven by infrastructure, railways, and construction sectors. The per capita consumption also increased from 2.5 kg to 3.4 kg during this period. Industry forecasts predict demand will reach 6.8 million tonnes by FY30, with per capita consumption rising to 4.5-5.
Stainless steel industry pushes for dumping duty
India's stainless steel industry is engaging with the Centre to impose an anti-dumping duty, with an application expected this month. Ratan Jindal emphasizes the need for safeguards to encourage investment as domestic capacity utilization hovers around 60%, while imports account for 30% of consumption.
Jindal Stainless chairman urges govt to impose appropriate duties on imports from certain countries
Jindal Stainless Chairman Ratan Jindal has urged the government to impose duties on surging imports from countries like China and Vietnam to protect the domestic industry and livelihoods. He highlighted the disruptive impact of excess production from these nations, especially on MSMEs, advocating for policies that favor 'Make in India' and support the stainless steel sector.
Finance ministry wants lower energy prices for green steel incentives, sources say
India's finance ministry is waiting for green hydrogen prices to fall. This is before they decide on financial support for green steel production. Steel producers are seeking incentives for decarbonization. The finance ministry is concerned about the high costs of green hydrogen. They worry it could make green steel unviable and inflationary. This could delay India's 2070 net-zero goal.
India's demand for stainless steel to grow 7-8% Y-o-Y over next 2-3 years: ISSDA
India's stainless steel demand is set to rise by 7-8 percent annually for the next three years. Consumption reached 4.8 million tonnes in FY25, growing about 8 percent. Opportunities lie in railways, tunnels, ports and airports. Government capex is boosting infrastructure. India is the second largest consumer of stainless steel globally. The construction market is expected to reach USD 1.
New steel tariffs mixed bag for Indian companies making in US
The US government is doubling tariffs on steel and aluminium imports. This move creates uncertainty, but offers mixed results for Indian firms with US operations. JSW Steel's US units are improving, expecting positive contributions. Hindalco's Novelis anticipates a 'neutral to positive' impact, pending trade deals. Analysts believe the overall impact may be limited, as safeguard duties could offset the effects.
Must Watch
Tata's Gopalpur SEZ joins World Economic Forum for clean energy revolution
Tata Steel SEZ's Gopalpur Industrial Park joins the World Economic Forum's initiative to cut CO2 emissions and boost economic growth. Located in Odisha, GIP is becoming a hub for green hydrogen and energy equipment manufacturing. GIP aims to contribute 10% to India's green hydrogen production target by 2030, with investments exceeding Rs 27,000 crore.
Trump’s steel tariff plan to have ‘minor’ impact on India, says minister
Steel Minister HD Kumaraswamy says increased US tariffs may slightly affect India. This follows Donald Trump's plan to raise steel tariffs to 50%. A report suggests India's metal exports could face significant consequences. India exported USD 4.56 billion in iron, steel, and aluminum to the US in FY2025. These exports may become less competitive due to higher duties.
'India needs to be watchful of any trade diversion risk due to steel tariff challenges'
Indian steel industry executives are concerned about potential trade diversion into the country following the US's decision to double tariffs on steel and aluminum imports. JSW Steel and AMNS India emphasize the need for proactive trade measures to protect the domestic industry amidst rising imports and declining exports.
FIEO worried over US tariff hikes on steel, aluminium
Federation of Indian Export Organisations raised concerns about US tariff hikes. These hikes could disrupt India's steel and aluminium exports. The US plans to double import tariffs to 50%. Indian exporters fear a loss of price competitiveness. They urge govt intervention at a bilateral level.
AMNS India eyes 25 pc share in domestic colour-coated market with new product line
AMNS India has launched Optigal Prime and Optigal Pinnacle, a new colour-coated steel product line, targeting infrastructure sectors like airports and railways, aiming for a 25% market share in the next few years.
India shines as bright spot for global steel industry, says Jefferies Report
India's steel sector is experiencing significant growth, contrasting with a global decline. Output surged 33% between 2019 and 2024, driven by rising domestic demand. While pricing pressures emerged due to Chinese imports, government intervention through safeguard duties has stabilized the market, with a positive outlook for continued growth in the coming years.
