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India discussing measures to address rising steel imports, minister says

China was the leading exporter of steel to India during this period.

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India is currently engaged in discussions to address the issue of rising steel imports, according to Steel Minister HD Kumaraswamy. While the minister did not provide specific details, he emphasized that increasing imports pose a significant challenge for steel producers, even as the demand for the metal continues to rise. Kumaraswamy made these remarks during an industry event.

India, the second-largest producer of crude steel globally, remained a net importer of steel during the fiscal year ending in March 2024, and this trend continued from April to July. China was the leading exporter of steel to India during this period, followed by Japan and South Korea.

The rise in imports has exerted downward pressure on local steel prices, which have dropped to their lowest point in more than three years, according to data from commodities consultancy BigMint. Earlier in the month, Kumaraswamy had mentioned that his ministry would attempt to persuade the finance ministry to increase tariffs on steel imports, aiming to protect domestic manufacturers from the influx of cheaper imports, particularly from countries like China.

In August, India launched an anti-dumping investigation into certain steel products imported from Vietnam. This decision came in response to concerns raised by major Indian steelmakers, including JSW Steel and ArcelorMittal Nippon Steel.

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Star Cement launches ‘Star Smart Building Solutions’

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Star Cement has launched ‘Star Smart Building Solutions,’ a new initiative aimed at promoting sustainable construction practices, as per a recent news report. This venture introduces a range of eco-friendly products, including tile adhesives, tile cleaners and grouts, designed to enhance durability and reduce environmental impact. The company plans to expand this portfolio with additional value-added products in the near future. By focusing on sustainable materials and innovative building solutions, Star Cement aims to contribute to environmentally responsible construction and meet the evolving needs of modern infrastructure development.

Image source:https://www.starcement.co.in/

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Nuvoco Vistas reports record quarterly EBITDA

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Nuvoco Vistas reported its highest-ever quarterly consolidated EBITDA of Rs.556 crore in Q4 FY25, with annual EBITDA at Rs.1,391 crore. Cement sales reached 19.4 MMT in FY25, with Q4 contributing 5.7 MMT. Revenue rose 4 per cent YoY to Rs.3,042 crore in Q4. Net debt reduced by Rs.390 crore to Rs.3,640 crore. The company received NCLT approval for acquiring Vadraj Cement, targeting 31 MMTPA capacity by FY27. Key marketing initiatives, expanding RMX and MBM businesses, and a focus on sustainability (457 kg CO2/tonne) drove performance. Nuvoco remains focused on premiumisation, operational efficiency, and market expansion.

Image source:nuvoco.com

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UltraTech Cement increases capacity by 1.4Mt/yr

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UltraTech Cement has expanded its production capacity by 1.4 million tonnes per annum (Mt/yr) through a combination of debottlenecking efforts and operational efficiency upgrades across several of its plants. The enhancements include an addition of 0.6Mt/yr in grinding capacity at the Nagpur facility in Maharashtra and a combined 0.8Mt/yr at the Panipat and Jhajjar units in Haryana. With these upgrades, the company’s total domestic grey cement capacity has risen to 184.8Mt/yr, while its global capacity now stands at 190.2Mt/yr.

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