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Pipe Makers Seek Eased Steel Imports

Pipe makers in Kutch demand steel imports.

Published

3 weeks ago

August 27, 2024

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Line pipe manufacturers in Kutch, Gujarat, are urging the Indian government to ease restrictions on steel imports to support the growth of the region’s pipeline industry. The Line Pipe Manufacturers Association has raised concerns about the current challenges faced by the industry, including limited access to high-quality steel, which is a crucial raw material for manufacturing pipes used in infrastructure projects.

Kutch, which is home to several major pipe manufacturing units, plays a significant role in supplying pipes for various sectors, including oil and gas, water supply, and industrial projects. However, manufacturers are struggling with a shortage of steel, particularly specific grades required for high-performance pipes. This shortage is exacerbated by high import duties and logistical challenges, which have led to increased production costs and delays in project timelines.

The industry representatives have pointed out that the current domestic steel production does not meet the specific needs of the pipe manufacturing sector, especially in terms of quality and quantity. They argue that easing steel imports would not only help address the immediate supply shortage but also support the expansion of the pipeline industry, which is vital for India’s infrastructure development goals.

The Line Pipe Manufacturers Association has called for a reduction in import duties on steel and the simplification of import procedures to ensure a steady and cost-effective supply of raw materials. They believe that these measures are essential for maintaining the competitiveness of the Indian pipe manufacturing industry in the global market.

Additionally, easing steel imports is seen as crucial for supporting ongoing and upcoming infrastructure projects in India, particularly in the energy and water sectors. With the government’s focus on boosting infrastructure and industrial growth, ensuring a reliable supply of raw materials like steel is critical for the success of these initiatives.

The association’s appeal highlights the need for a balanced approach to trade policies that consider the specific requirements of different industries while promoting overall economic growth and development. The outcome of these discussions could have a significant impact on the future trajectory of the pipeline industry in Kutch and across India.

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India’s Steel Consumption to Grow 9-10% in FY25: ICRA

Steel sector capacity to hit 88% despite monsoon and rising imports.

Published

1 day ago

September 13, 2024

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India’s domestic steel consumption is projected to rise by 9-10% in FY2025, according to a report by ICRA. The first quarter of FY2025 saw a 15% year-on-year growth in demand, although a slowdown is anticipated in the current quarter due to monsoon impacts. ICRA forecasts that steel sector capacity utilization will reach a decade-high of 88%, despite the addition of 15.6 million tonnes per annum (mtpa) of new capacity this year.

Between FY2021 and FY2024, India’s steel industry expanded rapidly, adding 26.3 mtpa of capacity. An additional 27.5 mtpa is expected between FY2025 and FY2027, driven by growing demand and increased imports. India’s finished steel imports rose by 35.4% in Q1 FY2025, continuing last year’s trend.

Despite rising imports, steelmakers are benefiting from lower raw material costs, with Australian coking coal prices down 45% and NMDC reducing iron ore prices by 18%. These reductions are expected to support profitability, though temporary margin contractions may occur in Q2 FY2025.

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Green steel focus: Ministry to launch roadmap for steel production

The report focuses on multiple aspects of carbon emissions in the steel industry.

Published

5 days ago

September 9, 2024

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The Ministry of Steel is scheduled to host an event titled “Greening Steel: Pathway to Sustainability” on 10th September 2024 at the C.D. Deshmukh Hall, India International Centre, New Delhi. The event will bring together representatives from various ministries, Central Public Sector Enterprises (CPSEs), think tanks, academia, institutions, and key players in the steel industry.

A major feature of the event will be the release of a comprehensive report, “Greening the Steel Sector in India: Roadmap and Action Plan,” prepared by the Ministry of Steel. This report, based on the findings of 14 task forces formed by the ministry, outlines the pathway for decarbonising India’s steel sector.

The report will address various aspects of carbon emissions within the steel industry, providing a detailed overview of the current situation, key decarbonisation strategies, technological innovations, policy frameworks, and a future roadmap to reduce emissions in the sector. It will also propose strategies such as energy efficiency, the use of renewable energy, material efficiency, green hydrogen, and biochar to facilitate the transition to sustainable steel production.

The event will also include a panel discussion on “Leadership and Innovation: Driving the Green Steel Transition,” where industry experts will share their perspectives on advancing decarbonisation in the steel sector. The discussion is expected to highlight innovative ideas and leadership insights.

This initiative aligns with India’s commitment to achieving net-zero carbon emissions as part of its nationally determined commitments (NDC). The report is viewed as a significant step in shaping the future of India’s steel industry and guiding it towards lower carbon emissions.

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Minister pushes for increased tariffs on Chinese steel imports

Industry experts and stakeholders have shown support for the proposal

Published

1 week ago

September 5, 2024

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The Minister of Heavy Industries has advocated for a substantial increase in tariffs on steel imported from China. This proposal aims to protect the domestic steel industry from the impacts of cheaper foreign steel flooding the market.

The Minister highlighted that the influx of low-cost Chinese steel has been detrimental to local manufacturers, causing disruptions in the market and undermining domestic production. By raising tariffs, the government intends to level the playing field and bolster the competitiveness of Indian steel producers.

The push for higher tariffs is also part of a broader strategy to enhance the growth and sustainability of the Indian steel sector. The Minister emphasized that such measures are essential to ensure the long-term health and viability of the industry, which is a crucial component of the country’s infrastructure and economic development.

Industry experts and stakeholders have shown support for the proposal, citing that increased tariffs could encourage investment in domestic steel production and reduce dependency on imports. However, there are concerns about potential retaliatory measures from China and the impact on trade relations between the two countries.

As the government considers the proposal, it is expected that consultations with industry players and trade partners will shape the final decision on tariff adjustments. The outcome will be closely watched by both domestic and international markets.