Uncategorized

Steelmakers Urge Government to Impose Temporary Tax to Curb Cheap Imports

Steel mills in India are experiencing considerable financial distress due to the large volume

Published

11 months ago

November 22, 2024

admin

India’s steelmakers have appealed to the government to urgently impose a temporary tax on cheap steel imports from China, Japan, and South Korea. The Indian Steel Association (ISA) has raised concerns about the rising influx of steel at predatory prices, which is severely affecting the domestic steel industry. The ISA, representing major steel producers like JSW Steel, Tata Steel, and Steel Authority of India, made this plea in a presentation to the Directorate General of Trade Remedies (DGTR), a division of the federal trade ministry.

According to the ISA, steel mills in India are experiencing considerable financial distress due to the large volume of low-priced steel being imported from surplus countries. The ISA warned that these imports are not only damaging the pricing structure of the domestic market but also threatening the survival of local steelmakers. The association noted that steel imports, especially from China, Japan, and South Korea, are priced at levels that local producers cannot compete with, putting significant pressure on their operations.

The ISA’s presentation also pointed to the growing issue of imports from Vietnam, which was once a buyer of Indian steel but has now become a net exporter of steel to India. This shift has exacerbated the situation, especially since Vietnam’s steel exports to India are often sold at low prices.

India, which is the world’s second-largest producer of crude steel, has also become a net importer of finished steel. Data for the fiscal year 2023-2024 reveals a sharp rise in imports, with finished steel imports during the first half of the year reaching a seven-year high. The growing imports are further squeezing margins for domestic mills, which have seen their profit margins drop by as much as 68% to 91%.

The ISA further pointed out that the situation is forcing companies to reduce production and delay capacity expansion, leading to uncertainty in the sector. JSW Steel, India’s largest steelmaker, has reported a third consecutive drop in profits, primarily due to the pressure from rising imports and falling domestic prices.

The DGTR has initiated an anti-dumping investigation into steel imports from Vietnam and is now assessing whether a safeguard duty should be imposed to counter the adverse impact on domestic producers. The outcome of this investigation will determine if additional duties will be applied to imports, though the ISA has pushed for swift action to ensure the survival of local steel manufacturers.

Up Next

JSW Steel declared preferred bidder for Codli Mineral Block XII in Goa

Don't Miss

Port delays and red tape strain India’s 10,000 steel user units

Uncategorized

L&T wins Hindalco, Tata Steel projects in Odisha, Jamshedpur

L&T bags major aluminium and steel sector orders

Published

5 days ago

October 28, 2025

admin

Infrastructure major Larsen & Toubro (L&T) announced on Friday that it has secured significant orders from Hindalco Industries and Tata Steel, strengthening its presence in the metals and minerals sector.

The company’s minerals and metals business vertical won an order from Hindalco to set up a 180 KTPA aluminium smelter and gas treatment centre for a greenfield project in Odisha, as well as a separate order from Tata Steel to construct a coke oven battery at Jamshedpur.

These are among several recent orders bagged by the vertical in India, L&T said in a filing to the Bombay Stock Exchange (BSE).

The scope of the projects includes engineering, manufacturing, supply, construction, and plant installation.

T Kumaresan, Senior Vice President and Head of Minerals & Metals at L&T, said,

“These order wins across the aluminium and steel sectors are a testament to L&T’s engineering excellence, execution capability, and long-standing customer relationships. They further strengthen our role in shaping the nation’s industrial infrastructure, while deepening our engagement with the steel sector through world-class execution and technological excellence.”

The contracts underscore L&T’s strategic focus on expanding its footprint in India’s metals and industrial infrastructure segment, which continues to see strong growth driven by rising domestic demand and capacity expansion across core sectors.

Uncategorized

Shyam Metalics Unveils Rs 100 billion Capex Plan Under Vision 2031

Company targets Rs 400 billion topline by 2031 with 2.5x revenue growth

Published

1 week ago

October 23, 2025

admin

Shyam Metalics and Energy Limited (SMEL) has announced its Vision 2031, outlining a Rs 100 billion capital expenditure plan to expand capacity and achieve a topline of Rs 400 billion by 2031—a 2.5x revenue growth from current levels.

The company plans to enhance its integrated operations by focusing on high value-added and downstream products, including specialty steel, stainless steel, flat products, and aluminium. It also aims to strengthen its presence across key sectors such as defence, railways, engineering, and infrastructure.

SMEL will leverage brownfield expansions in West Bengal, Odisha, and Madhya Pradesh to optimise capital efficiency and minimise execution risk. The Vision 2031 roadmap underscores the company’s commitment to sustainable, value-driven, and capital-efficient growth across the metals sector.

Uncategorized

Tata Steel, Air Water India Ink 20-Year Deal for Jamshedpur ASU

Partnership to operate 1,800-tonne daily oxygen unit enhances steel efficiency

Published

1 week ago

October 23, 2025

admin

Tata Steel has signed a 20-year agreement with Air Water India Private Limited (AWIPL) to operate and maintain its advanced Air Separation Unit (ASU) in Jamshedpur. The partnership aims to boost Tata Steel’s industrial gas infrastructure and improve efficiency through the use of cutting-edge cryogenic technologies.

The agreement was signed between Peeyush Gupta, Vice President (TQM, GSP & SC), Tata Steel, and Kausik Mukhopadhyay, Managing Director, AWIPL. Under the contract, AWIPL will manage operations of the ASU, which can produce 1,800 tonnes of oxygen per day, along with nitrogen, argon, and dry compressed air. These gases are critical to Tata Steel’s blast furnaces and steel melting operations.

The ASU is currently in the stabilisation phase and will be officially handed over to AWIPL next month. The collaboration leverages AWIPL’s global expertise in cryogenic operations, particularly from its facilities in Japan, ensuring world-class maintenance and reliability.

The initiative underscores Tata Steel’s focus on integrating sustainable and efficient technologies across its facilities, aligning with its long-term commitment to responsible steelmaking and operational excellence.