Uncategorized

India Tackles Rising Steel Imports

India addresses challenges posed by increasing steel imports.

Published

6 months ago

September 23, 2024

admin

India is actively discussing measures to manage rising steel imports, as stated by Steel Minister H.D. Kumaraswamy. The minister highlighted that despite robust domestic demand, the surge in imports poses significant challenges for local steelmakers.

Key Points:

Current Import Trends: India, the second-largest producer of crude steel, has been a net importer throughout the fiscal year ending March 2024 and continued this trend from April to July.

Top Exporters: China emerged as the largest steel exporter to India during this period, followed by Japan and South Korea.

Impact on Prices: The influx of imports has contributed to a decline in local steel prices, which have reached their lowest levels in over three years, according to data from BigMint.

Government Response: Kumaraswamy indicated that the ministry aims to persuade the finance ministry to increase tariffs on steel imports to safeguard domestic manufacturers from cheaper imports, particularly from China.

Anti-Dumping Measures: In August, India launched an anti-dumping investigation on specific steel products imported from Vietnam, responding to concerns from leading steel producers like JSW Steel and ArcelorMittal Nippon Steel.

Conclusion: The Indian government is taking proactive steps to protect its steel industry amid rising imports, ensuring the sustainability of local production.

Related Topics:anti-dumping investigation.domestic demand India steel imports Steel Minister tariffs

Up Next

MSMEs Oppose Proposed Steel Import Duty Hike Amid Price Volatility

Don't Miss

Tata Steel commissions India’s largest blast furnace at Kalinganagar

Uncategorized

World’s First Book on Carbon Steel Sourcing Launched by Hero Steels CEO

Panckaj N Umrania’s book offers strategic insights into steel sourcing.

Published

2 weeks ago

February 27, 2025

admin

The global steel industry marked a milestone with the launch of “Mastering Carbon Steel Sourcing: From Domestic Suppliers to Global Partnerships,” the world’s first book on carbon steel sourcing. Authored by Panckaj N Umrania, Executive Director of KND Steel, the book was unveiled by Jitendra Sharma, ED & CEO of Hero Steels Ltd.

The event saw participation from industry leaders, policymakers, and representatives from JBM Group, Havells India, Philips Lighting India, Air India, and Northern Railways, underscoring its industry relevance.

Published by Academic Foundation India, the book serves as a guide for business leaders and sourcing professionals, covering supply chain optimisation, quality control, and cost management. It also highlights India’s growing role in global steel sourcing.

Speaking at the launch, Umrania stated, “This book addresses key sourcing challenges and provides practical solutions to help businesses enhance profitability.”

The event concluded with a panel discussion on the future of steel sourcing and supply chain innovation, reinforcing the book’s significance in transforming global sourcing strategies.

Uncategorized

Viva ACP Unveils Bricklyn: A Fusion of Tradition and Innovation

The new ACP series blends classic brick aesthetics with modern engineering.

Published

2 weeks ago

February 27, 2025

admin

Viva ACP, Asia’s largest aluminium composite panel (ACP) manufacturer, has launched Bricklyn, a new addition to its Santa Fe series. Inspired by the strength of traditional bricks and reimagined with contemporary design, Bricklyn merges heritage aesthetics with advanced technology.

The design draws from Brooklyn’s urban energy and the stacking ingenuity of Jenga, offering structural integrity, aesthetic appeal, and creative flexibility. Available in a range of muted and bold hues, the panels allow architects to craft dynamic, visually striking façades.

Engineered using Stucco Textures and Synchro Technology, Bricklyn ensures durability and resilience with a 15-year warranty, reinforcing Viva ACP’s commitment to quality.

“Bricklyn is more than a cladding solution; it’s a tribute to tradition and innovation,” the company stated, positioning the series as a benchmark for modern architectural design.

Uncategorized

HMPL Wins Rs 1 Billion Steel Contract in Maharashtra

The execution of the project is expected to be completed within six months.

Published

2 weeks ago

February 27, 2025

admin

Hazoor Multi Projects (HMPL) has been awarded a contract worth Rs 1.02 billion for steel-related works in Maharashtra. The order, issued by Venkatesh Infra Projects, involves reinforcement steel cutting, bending, fixing, and fabricating structural steel for a bridge under construction at the Versova-Bandra Sea Link project site in Mumbai. The execution of the project is expected to be completed within six months.

HMPL specializes in engineering, procurement, and construction (EPC) services, primarily focusing on renewable energy and infrastructure projects, including roads and bridges. The company has been actively expanding its presence in the infrastructure sector with a strong emphasis on large-scale projects.

In addition to this contract, HMPL is working on plans to establish a 500 MW solar power project in Andhra Pradesh. The proposed project entails an investment of Rs 25 billion, reflecting the company’s commitment to advancing renewable energy initiatives in India.

With a growing portfolio in both infrastructure and renewable energy, HMPL continues to strengthen its position in the industry, leveraging its expertise in EPC services to execute complex projects efficiently. The latest order further reinforces its role in contributing to major infrastructure developments in Maharashtra.

News source: The Hindu Businessline