STEEL EXPORTS
Arcelor-Nippon says India's plan for raw material curbs ignores Red Sea crisis ArcelorMittal's India joint venture warned New Delhi that planned curbs on low ash metallurgical coke imports, crucial for steelmaking, could harm the industry. The Red Sea crisis complicates supply chains, and the proposed 40% quota for European im...
21 Jun, 2024, 12.50 PM ISTDomestic demand for steel soars in India, country turns net importer in FY24: CRISIL Report India has shifted from being a net exporter to a net importer of steel in fiscal 2024, with a trade deficit of 1.1 million tonnes. Surging domestic demand led to increased imports from China, South Korea, Japan, and Vietnam. Despite a rise in export...
20 Jun, 2024, 03.20 PM ISTLow domestic demand, Chinese dumping depress steel prices Besides these, sustained Chinese steel output is also eating into India's share of metal exports to Vietnam and the United Arab Emirates (UAE). These are the two most prominent destinations for Indian steel products after the European Union.
14 Jun, 2024, 12.09 AM IST
Indian steel producers worry as weak domestic demand and Chinese dumping depress prices further Indian steel makers are grappling with weak local demand and Chinese steel imports impacting exports to UAE and Vietnam. Steel prices in India under pressure due to low import prices.
13 Jun, 2024, 03.05 PM ISTIndia's April-May steel imports hit five-year high on buoyant domestic demand The surge in imports has raised concerns among Indian steel mills, prompting calls for government intervention and safeguard measures. However, the Ministry of Steel has refrained from such actions, emphasizing the strong local demand for steel. Not...
12 Jun, 2024, 12.48 PM ISTGlobal demand revival: How is India poised? As the global demand sees some revival, India must get its act together to make the most out of it.
10 Jun, 2024, 09.46 AM ISTChina's exports grow 7.6 per cent in May, beating expectations despite trade tensions Exports rose due to a lower base from last year, with a trade surplus widening to USD 82.62 billion in May.
07 Jun, 2024, 08.06 PM ISTChina’s exports surge more than expected in boost for economy Beijing is relying on sales abroad to offset weak consumer spending at home, where a real estate slump has led households to tighten their belts.
07 Jun, 2024, 10.00 AM ISTChina risks trade war on two fronts as low-tech exports soar, too Rising trade tensions as the EU, US, and potentially Canada impose tariffs on Chinese electric vehicles, are impacting global trade dynamics.
06 Jun, 2024, 12.17 PM IST2,500 job cuts! Layoffs in Tata Steel's UK operations inevitable, says CEO Narendran Tata Steel's transition to low-emission electric arc furnace process at its UK operations will lead to the loss of around 2,500 jobs. The move, part of a decarbonization plan, aims to reduce production costs and cut CO2 emissions. Worker unions are ...
02 Jun, 2024, 12.08 PM ISTJSW Steel comes out with a new product for green energy space JSW Steel is producing 'JSW Magsure', a zinc-magnesium-aluminium alloy coated steel product, to replace imports in India. The product, which had a demand of around 100,000 tonnes in 2023-24, is expected to reach 250,000 tonnes this year due to renew...
01 Jun, 2024, 01.08 AM ISTPricey ore, tepid local demand, Chinese imports weigh on steelmakers' margins This is the third time in the past decade that local producers are confronting such a situation. "The government has in the past imposed duties against Chinese steel products, including those being routed from countries like Vietnam," a top official...
31 May, 2024, 12.33 AM ISTJSW Steel eyes 50 per cent market share in coated steel segment JSW Steel introduced zinc-magnesium-aluminium alloy coated steel and aimed for a 50 per cent market share within one year. With an investment of Rs 500 crore, JSW set up 0.9 million tonnes capacity in Karnataka and Maharashtra. This move reduces Ind...
30 May, 2024, 11.57 AM ISTLower shipments of iron & steel dragged down engineering exports in April by 3.2% Engineering exports are expected to rise on the back of global trade pick-up in coming months, says EEPC India Chairman.
23 May, 2024, 03.56 PM ISTIndia only nation among top 5 to see growth in steel production India is the only top five steel producing nation to see growth in production in April, while China, Japan, and the United States experienced a decline. India's steel production rose by 3.6% in April, with a total of 49.5 million tonnes produced fro...
23 May, 2024, 03.36 PM ISTJSW Steel sees highest-ever sales volume in FY24, guides for further growth The country’s largest steel-maker has guided for consolidated steel production of 28.40 million tonne, and saleable steel sales of 27 million tonne this year.
17 May, 2024, 07.51 PM ISTJSW Steel Q4 Results: Profit falls 64% YoY to Rs 1,299 crore JSW Steel reported a 64% YoY drop in consolidated net profit to Rs 1,299 crore for March 2024, with revenue from operations at Rs 46,269 crore. The Board recommended a final dividend of Rs 7.30 per share, and the EBITDA margin was 13.2%. Details on ...
17 May, 2024, 04.28 PM ISTJindal Stainless eyes 20% volume growth in FY25, to spend over Rs 5,000 crore on capex The country’s largest producer of stainless steel sold 2.17 million tonne of stainless steel in 2023-24 (Apr-Mar), a growth of 23%, surpassing the company’s guidance of 20% for the year.
15 May, 2024, 06.54 PM ISTFrom spices to steel to drugs, India's exports are being hammered India's path to becoming a developed country hinges on boosting exports, as demonstrated by China's growth. Leveraging bilateral agreements and FTAs, India is expanding into new markets like Africa and Latin America. Yet, quality issues and trade re...
02 May, 2024, 02.48 PM ISTCentre relaxes quality control regime on steel and textiles The Centre has exempted inputs used in export products from quality control orders issued by the Steel Ministry, DPIIT, and Textiles Ministry, as per the Directorate General of Foreign Trade's Foreign Trade Policy, 2023. Manufacturers no longer need...
12 Mar, 2024, 06.09 PM IST