Concrete

India discussing measures to address rising steel imports, minister says

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

Published

7 months ago

September 20, 2024

admin

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.

Up Next

Bio-based innovations

Don't Miss

Jindal to develop Green Hydrogen Facility for use in its Steelworks

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

7 days ago

April 21, 2025

admin

UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

Concrete

Ambuja Cements gets a new CEO

Published

7 days ago

April 21, 2025

Roshna

Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

Concrete

‘Sabse Khaas Pehelwan’ by Nuvoco

Published

7 days ago

April 21, 2025

admin

Nuvoco Vistas Corp has introduced Nuvoco Duraguard Cement ‘Sabse Khaas Pehelwan’, a one-of-a-kind wrestling championship aimed at honouring and nurturing Haryana’s proud wrestling legacy. The initiative offers budding wrestlers an opportunity to compete at a professional level, gain visibility and represent their districts in a prestigious state-wide competition. ‘Seedhi Baat Hai, Duraguard Khaas Hai’ is aligned with Nuvoco’s brand philosophy.