India is exploring the implementation of safeguard duties to curb the influx of steel at low or zero tariffs under the free trade agreement (FTA) with the ASEAN region. This move comes as Chinese companies expand their steel manufacturing capacities in ASEAN countries.
Discussions are underway between the steel and commerce ministries, ahead of the next India-ASEAN FTA review talks scheduled for February. Industry experts report that Chinese firms are adding approximately 97 million tonnes (mt) of blast furnace-basic oxygen furnace (BF-BOF) capacity in ASEAN, expected to be operational within the next 5-6 years.
With annual steel consumption in ASEAN at around 75 mt, there are concerns that the surplus production could be redirected to India due to the tariff advantages under the India-ASEAN FTA. “Discussions are ongoing, and measures like imposing a safeguard duty are being considered,” a senior government official said.
Alok Sahay, Secretary General of the Indian Steel Association, noted that the influx of 97 mt of new BF-BOF capacity in ASEAN countries poses a threat to Indian steel producers. “Given the current FTA and the limited growth in ASEAN’s consumption, these new capacities are mainly for export. India’s low-to-zero tariffs make it an attractive market compared to the EU or the US,” Sahay added.
The South East Asia Iron and Steel Institute (SEASI) projects that the region’s steel production capacity will reach 145 mt by 2026. Praful Venugopal, CEO of Mittal Steel Indonesia, mentioned that Chinese producers have signed agreements with Indonesia to set up plants that will contribute an additional 20 mt of capacity. Indonesia’s steel consumption is around 17 mt, and these new plants are designed to supply exports.
The anticipated oversupply from ASEAN could lead to depressed domestic steel prices in India, where production in FY24 was 139 mt, just slightly above consumption of 136 mt.
(ET)

The central government has identified instances of substandard steel imports and has taken measures to prevent their entry into the country. The Ministry of Steel stated that cheaper imports tend to lower domestic steel prices and negatively impact both large and small steel producers.

According to the ministry, numerous traders and manufacturers have been attempting to bypass the Bureau of Indian Standards (BIS) requirements by making minor alterations to steel grades. Official reports indicate that this appears to be an effort to import inexpensive steel under the guise of different grades.

The BIS has established 151 standards encompassing 1376 steel grades under the Steel Ministry’s Quality Control Orders (QCO). The ministry emphasized that this framework ensures compliance with BIS standards for both domestically produced and imported steel. The statement further highlighted that these measures are aimed at restricting the import of low-quality steel.

While steel imports require a BIS license, certain grades not yet covered by BIS standards may be imported with a No Objection Certificate (NOC) from the Steel Ministry. However, the ministry noted instances of misuse of this provision. Officials observed that many traders and manufacturers have been modifying steel grades slightly to circumvent BIS requirements.

Official data revealed that import applications for 1136 additional grades have been submitted to the Steel Ministry. Most of these grades are reportedly neither internationally recognized nor covered by BIS standards. They often involve minor variations in chemical composition or product dimensions and appear to facilitate the import of cheaper steel under the pretext of alternative grades. Furthermore, many of these shipments were ordered without obtaining the requisite NOC from the ministry.

Addressing concerns regarding restrictions on Japanese steel imports, the ministry clarified that 735 applications for importing Japanese steel had been received. Of these, 594 were approved, while 141 were denied due to non-compliance with established norms.

Lightweight yet robust, aluminium as a metal has been an industry’s bedrock in automotive, architecture, and many more industries. Its versatility, recyclability, and strength make it the favourite of forward-looking brands who push the boundaries of design and engineering. Here, we bring to you five trailblazing companies that are harnessing aluminium power for some ground-breaking solutions, directed towards functionality and sustainability and aesthetics.

Jindal Aluminium
Jindal Aluminium, with a legacy spanning over 55 years, is a pioneer in manufacturing aluminium extruded and flat-rolled products. Operating across three state-of-the-art facilities with a production capacity of 255,000 MT, it excels in crafting high-precision aluminium extrusions that meet international standards. Leveraging advanced German machinery, a modern tool shop, and in-house powder coating, anodizing, and fabrication, Jindal Aluminium delivers bespoke aluminium products to some of the most trusted brands around the globe. It combines innovation, engineering excellence, and a focus on sustainability to shape industries and inspire progress across 55+ countries.

Hindalco
Hindalco has pioneered the art of innovation in aluminium. The company’s facilities include cutting-edge sites like its Silvassa plant, which sports India’s first vertical powder coating line, and its Kuppam unit with advanced surface treatment capabilities. Combining high-quality products from Hindalco with R&D and focused, sustainable production leads to world-class products for the transportation, construction, and packaging industries, for example. With the alumina refinery along with recent smelting technology introduced, it is a global leader in the value chain of aluminium.

Bharat Aluminium Company (BALCO)
BALCO, a leading aluminium producer in the country, is renowned for its strong smelting and refining processes. As a subsidiary of Vedanta Limited, BALCO uses engineering prowess to implement environmentally sound practices. Its aluminium offerings are geared to diverse sectors like power, infrastructure, and automotive as well. It continues to be at the forefront of design and manufacturing for these sectors because of the efforts it has put into digitisation and sustainability.

Century Extrusions
Century Extrusions is an aluminium profile specialist, offering personal profiles in accordance with top international standards. The company located in Kharagpur, designs and manufactures profiles of customised aluminium, suited to industries such as construction, automotive, or electrical engineering. Due to its dedication to innovation and quality, Century has established itself as a reliable partner for clients looking at high-precision aluminium solutions. Strategically positioned near aluminium producers, sourcing becomes easier and delivery is faster in this company, which enhances its operational excellence.

NALCO
NALCO or National Aluminium Company Limited is a Navratna CPSE, and it is a role model for sustainability and innovation in aluminium engineering. Advanced smelting technologies and renewable energy programs make it the leader in eco-friendly production. Its high-quality products serve aerospace, energy, and construction industries, providing it the cutting edge of leadership as one of the first aluminium design and manufacturing leaders. NALCO collaborates with Global Partnerships for advanced R&D assurance to continue working toward sustainable and efficient production methods.

These five aluminium brands are redefining the power of aluminium, combining advanced engineering with sustainable practices to meet the demands of an ever-changing world. Their innovations don’t just shape industries today, but forge a greener and more efficient future tomorrow. .