Shares of Jindal Steel and Power, Tata Steel, and other major Indian steel producers fell [1] sharply as renewed concerns over U.S. tariffs unsettled investors. The Nifty Metal index, which includes key steelmakers, emerged as the worst-performing sectoral index, reflecting broader market unease over global trade policy shifts. The downturn follows reports that the Trump […]
Nippon Steel Corp. has announced a substantial investment [1] of 868.7 billion yen to introduce electric furnaces at its domestic steel plants, marking a significant step toward decarbonization. The Japanese government, through the industry ministry, will provide up to 251.4 billion yen in financial aid to facilitate the transition from traditional blast furnaces to more […]
India’s steel ministry is advocating for an extension of import restrictions [1] on low-ash metallurgical coke, citing sufficient domestic supply as the primary reason. The move, however, has sparked concerns among steel manufacturers who argue that the curbs could hinder their expansion plans due to difficulties in sourcing preferred grades locally. The restrictions, initially imposed […]
Iran and China have signed an agreement [1] to export engineering services for the development of a sponge iron production facility in Kazakhstan, marking a significant step in regional steel industry collaboration. The project, led by Iran’s ASCOTEC Holding, will utilize Iran’s proprietary PERED technology to design and engineer a sponge iron plant with an […]
Tata Steel UK has taken a significant step in its transition to sustainable steel [1] production by awarding a contract to JASO Industrial Cranes for the supply of high-capacity process cranes at its Port Talbot facility. This initiative is part of Tata Steel’s £1.25 billion investment in green steelmaking, aimed at reducing carbon emissions and […]
PGE and Ørsted have signed another contract [1] for the production and supply of secondary steel structures for the Baltica 2 offshore wind farm. The agreement, awarded to Grupa Przemysłowa Baltic, marks a significant step in Poland’s offshore wind energy development. Under the contract, Grupa Przemysłowa Baltic will manufacture boat landings and anode cages at […]
South Korea’s major steel player, Dongkuk Steel announced a temporary shutdown [1] of its Incheon rebar production plant, marking an unprecedented move in the company’s 71-year history. The decision, effective from July 22 to August 15, comes in response to a prolonged downturn in the construction sector and a persistent oversupply in the domestic steel […]
The India Supreme Court has ordered a status quo on the liquidation proceedings [1] of Bhushan Steel & Power Ltd (BPSL), providing JSW Steel an opportunity to file a review petition against the court’s earlier ruling. The decision comes after JSW Steel challenged the Supreme Court’s May 2 verdict, which had rejected its ₹19,700 crore […]
Japanese sportswear brand Asics has announced it will cease sourcing kangaroo leather for its footwear, following in the footsteps of German brand Adidas, which recently confirmed it had ended the use of the material in its football boots. In a statement shared with Animal Wellness and the Center for a Humane Economy, Asics’s sustainability department […]
Japan Steel Works (JSW) is set to commence local production [1] of the Patria AMV 8×8 wheeled armored vehicle in September, marking a significant milestone in Japan’s defense manufacturing capabilities. The initiative follows a technology transfer agreement with Finnish defense firm Patria, which selected JSW as its licensed production partner. The Patria AMV was chosen […]
According to provisional government data reviewed by Reuters on Thursday, India’s finished steel imports dropped by 11.3% year-on-year in April, reaching 0.5 million metric tons, as shipments from China and Japan declined. To counter a flood of low-cost steel imports, primarily from China, India imposed a 12% provisional safeguard duty on select steel imports in […]
Shares of BMW Industries witnessed a sharp rally of nearly 12% in Wednesday’s intraday trading after securing a significant order worth ₹364.69 crore from Tata Steel. The steel processing company’s stock surged to ₹59.7 per share, marking its biggest intraday gain since May 5, before settling 4.5% higher at ₹55.8 apiece. The contract, awarded to […]
JSW Steel has formally requested a ₹19,300 crore refund from banks [1] following the Supreme Court’s decision to cancel its 2019 acquisition of Bhushan Power and Steel Ltd. (BPSL). The ruling, issued earlier this month, cited multiple compliance failures and directed the liquidation of BPSL. JSW Steel has also sought a 60-day delay in the […]
NMDC Group, a leading global player in engineering, procurement, construction (EPC), and marine dredging, has entered into a Memorandum of Understanding [1] (MoU) with Jiangsu Juxin Petroleum Steel Pipe to explore potential collaboration. The agreement, signed during the Make it in the Emirates (MIITE) event, aligns with the UAE’s broader industrial growth strategy and strengthens […]
Green energy downsizing won’t derail Fortescue’s transition, according to Forrest. Andrew Forrest, Fortescue’s billionaire chairman, cautions that Chinese firms are modernizing plants and shifting to cleaner iron ore, leaving Australian miners vulnerable if they don’t adapt. As the major shareholder of Australia’s third-largest iron ore producer behind BHP and Rio Tinto, Forrest notes all three […]
India is now responsible for over 40% of global steelmaking capacity in development (352 mtpa) compared to just 140 mtpa in China. Analysis shows India’s planned steel capacity, which is larger than China’s and the EU’s combined, must leverage EAF and DRI to keep industry emissions within climate targets. A recent analysis shows that electric […]
India’s ambitious plans to double steel production [1] by 2030 could severely undermine national and international climate goals, according to a new report by Global Energy Monitor (GEM). The findings highlight the country’s overwhelming reliance on coal-based steelmaking, raising concerns about its ability to curb carbon emissions in line with global efforts. Steel production is […]
Thailand’s Board of Investment (BOI) has approved a series of measures [1] aimed at mitigating risks posed by global trade policies, including the removal of investment incentives for solar panel and downstream steel manufacturing. The decision, announced on Monday by BOI Secretary General Narit Therdsteerasukdi, reflects the government’s broader strategy to strengthen Thai businesses, particularly […]
The global steel wire rod market is showing both stability in some key regions and growing concerns of oversupply in others. The current market for the US and Germany is providing a rare period of price and demand stability. However, China’s weakening demand alongside the rising production is dragging the prices downward. Reports show that […]
Iraq has commissioned a 600,000-tonne-per-year steel mill [1] in Basra, more than a decade after awarding the project to Italy’s Danieli Group. The facility, inaugurated by Industry and Minerals Minister Khaled Al-Najm, is expected to support the country’s post-conflict reconstruction efforts and meet growing demand for steel. The project, valued at IQD400 billion ($305 million), […]
The Sajjan Jindal Family Trust has sold a 2% stake in JSW Infrastructure Ltd, India’s second-largest commercial port operator, for ₹1,210 crore to institutional investors, including the Singapore government, to finance the potential takeover of AkzoNobel India. The trust divested 0.88% of its JSW Infra shares worth ₹531 crore to the Singaporean government via block […]
Iranian billet export prices [1] have remained stable at $410-420 per tonne FOB for standard grades, as weak demand continues to weigh on the market. Buyers in the United Arab Emirates and Oman are exercising caution, citing concerns about the risk associated with Iranian supply due to potential non-compliance with ECAS certification, a key requirement […]
The National Company Law Tribunal (NCLT) has adjourned its hearing on a petition filed by Sanjay Singhal, former promoter of Bhushan Power & Steel Ltd (BPSL), to June 26. Singhal approached the tribunal seeking enforcement of the Supreme Court’s recent ruling, which quashed the ₹19,700 crore resolution plan proposed by Sajjan Jindal-led JSW Steel and […]
Pakistan and Russia have agreed to establish a new steel mill in Karachi [1], marking a significant step in strengthening bilateral ties and expanding industrial collaboration. The agreement was finalized during a meeting between Russian representative Denis Nazaroof and Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan, where both sides engaged in extensive […]
Shares of major Indian steel companies, including Tata Steel, SAIL, JSPL, and JSW Steel, saw notable gains [1] in Wednesday’s morning trades, following India’s firm stance against U.S. tariffs at the World Trade Organization (WTO). Tata Steel led the rally, with its share price opening at ₹151.20, slightly above the previous day’s close of ₹149.50, […]
Lockheed Martin (NYSE: LMT) and Arabian International Company for Steel Structures (AIC Steel) have celebrated a major milestone [1] in their collaboration on the Terminal High Altitude Area Defense (THAAD) Weapon System. The achievement marks the completion of the first locally-produced components for the THAAD launcher, strengthening Saudi Arabia’s defense industrial capabilities. Lockheed Martin Missiles […]
Union Steel and Heavy Industries Minister H. D. Kumaraswamy on Tuesday stressed the need for intensified research to curb pollution in the steel sector while reviewing the performance of his ministries. He also urged the Heavy Industries Ministry to boost domestic electric vehicle (EV) manufacturing, emphasizing greater support for local production. According to an official […]
A new development in stainless steel technology has been said to have the potential to transform global green hydrogen production, making clean energy more affordable and sustainable. This innovation could significantly reduce costs and enhance the efficiency of generating hydrogen using renewable energy sources. Scientists at the University of Hong Kong, headed by Professor Mingxin […]
Iran’s steel industry recorded a mixed performance [1] in the first month of 2025, with steel product output declining while crude steel production saw an increase, according to the latest data from the World Steel Association (WSA). Steel product output stood at 1.812 million tons, reflecting a 1.2% year-on-year decline compared to 1.851 million tons […]
India has announced plans to impose countervailing duties on U.S. imports in accordance with WTO regulations, responding to America’s steel and aluminum tariffs implemented as protective measures. A WTO notification reveals these U.S. trade restrictions affect approximately 7.6 billion worth of Indian exports, potentially generating about $1.91 billion in tariff revenues. In April, India initiated WTO […]
Tata Steel shares gained momentum ahead [1] of the company’s March quarter earnings announcement, scheduled for May 12. At 10:30 am, the stock was trading at ₹147.97 per share on the National Stock Exchange (NSE), reflecting a 3.47% increase. In a May 8 exchange filing, the Tata Group firm confirmed that its board would convene […]
The Netherlands-based Oryx Stainless Group, a supplier of recycled stainless steel raw materials, recently inaugurated its new facility in Johor, southern Malaysia. The company stated that this plant will enhance the global circular economy for stainless steel. “The site reinforces the region’s position as a strategic hub for sustainable industrial growth,” states Oryx. The company […]
Global steel and mining leader ArcelorMittal has begun delivering renewable energy to AMNS India in Gujarat, sourced from its 1-gigawatt (GW) hybrid solar and wind power facility in Andhra Pradesh. The $700 million project was developed, built, and operationalized by AM Green Energy, a fully-owned subsidiary of ArcelorMittal. The company stated that, “the largest renewable […]
According to UK based research firm’s recent reports by IDTechEx [1], Hydrogen-powered steel production may remain out of reach for more than a decade unless significant cost reductions and infrastructure advancements are made. Despite hydrogen-based direct reduced iron (DRI) projects leading the green steel transition in regions such as Europe, the Middle East, the US, […]
The Indian Finance Ministry has expressed support [1] for banks planning to challenge the Supreme Court’s recent decision that overturned JSW Steel’s ₹19,700-crore acquisition of Bhushan Power and Steel (BPSL). The ruling cited violations of the Insolvency and Bankruptcy Code (IBC), prompting lenders to argue that the court should have given greater weight to the […]
A steelmaking association representing producers in Malaysia and neighboring ASEAN (Association of Southeast Asian Nations) countries has indicated that rising steel imports and perceived unfair trade practices are harming the profitability of regional steel producers. South East Asia Iron and Steel Institute (SEASAI) claims that Malaysia’s Ministry of Investment, Trade, and Industry is overlooking the […]
India’s Tata Steel has announced a US$1.18 billion investment to expand iron ore production across its Noamundi, Joda, and Katamati mines, aiming to boost annual output from 40 million tons to 55 million tons. The company’s General Manager for Ores, Mines & Quarries (OMQ), Atul Bhatnagar, emphasized Tata Steel’s commitment to strengthening its raw material […]
The government is currently evaluating the Supreme Court’s [1] recent decision that nullified JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power and Steel Ltd (BPSL), according to the Department of Financial Services (DFS). Officials are expected to finalize their approach to the verdict soon. “We have already reviewed the ruling alongside all involved lenders. […]
India’s Supreme Court on Friday rejected JSW Steel’s [1] resolution plan to acquire Bhushan Power and Steel, ordering the liquidation of the debt-ridden firm four years after the takeover was completed, according to lawyers involved in the case. The court’s decision marks a significant setback for JSW Steel, India’s largest steelmaker by capacity, which had […]
India’s largest steelmaker, JSW Steel, is facing setbacks [1] in its efforts to source coking coal from Mongolia due to unresponsive suppliers and logistical constraints, sources familiar with the matter revealed. The company had planned to import 2,500 metric tons from Mongolia, while the state-run Steel Authority of India Limited (SAIL.NS) sought a larger shipment […]
Primegold Steel & Power has been a part of the wind power sector, alongside long-term renewable energy contracts and solar power. The company’s continued investment in clean energy accelerates its transition to sustainable operations and eco-friendly steel manufacturing. Primegold Steel & Power Ltd has been changed to Primegold International Ltd, marking a decisive shift toward […]
Iron ore futures fall as speculation mounts over China’s possible steel production cuts [1], sparking unease in global commodity markets. Mixed signals on US-China trade relations compound the uncertainty, leaving investors wary of broader economic implications. On the Dalian Commodity Exchange, iron ore prices dipped 0.7% to 709 yuan per metric ton, while Singapore’s May contract slipped […]
Baosteel forecasts a decrease in steel exports and weaker domestic consumption in 2025, though the exact timing and magnitude are unclear. This comes despite the company’s recent profit growth. The company, Baosteel, a subsidiary of the state-owned China Baowu Steel Group, is known to be the world’s largest steelmaker by output. China’s biggest listed steelmaker, Baoshan […]
India’s steel industry must secure annual investments [1] between ₹150,000 to ₹200,000 crore over the next two decades to scale production capacity from 200 million tonnes to 500 million tonnes by 2047, according to Jayant Acharya, Joint MD & CEO of JSW Steel. He stressed that this unprecedented financial commitment is essential to support rising […]
Despite volatility in global zinc prices driven by uncertainty over U.S. tariffs, Hindustan Zinc anticipates strong growth in fiscal 2026, a top company executive said to Reuters on Friday. The outlook follows the miner’s report of a significant rise in quarterly profit. CFO Sandeep Modi said that the Zinc prices have fluctuated between $2,500 and […]
India’s Prime Minister Narendra Modi on Thursday urged India’s steel sector to reduce reliance on imports and transition toward becoming a net exporter, [1] emphasizing its critical role in the country’s ambition for a developed India, or Viksit Bharat. Speaking virtually at the India Steel 2025 conference, PM Modi outlined a transformative vision for the […]
A steel factory in Chonburi, a province in Thailand, jointly owned by a Chinese firm, has been caught illegally resuming operations [1] despite a government-issued suspension order. A special taskforce from Thailand’s Ministry of Industry discovered the violation during an inspection, resulting in the seizure of 582 tonnes of substandard steel bars worth approximately 11.53 […]
Jindal Stainless, India’s top stainless steel producer, has partnered with AB Energia Solutions Pvt. Ltd., a prominent clean energy solutions provider, to implement a groundbreaking solar power project at its Jajpur, Odisha facility. This initiative, now operational, is the largest captive solar plant within a single industrial site in Odisha, boasting an installed capacity of […]
Shares of Tata Steel Ltd, JSW Steel Ltd, SAIL, and Jindal Steel & Power Ltd climbed during Tuesday’s trading session after the government imposed a 12% provisional safeguard duty on certain steel products. This move was aimed at protecting local manufacturers from the recent influx of imports. The duty came into force immediately and will […]
India’s steel imports surged [1] to 10.1 million tonnes in FY25, the highest level since FY16, according to provisional data from market analytics firm BigMint. The increase, driven by an influx of finished flat-steel shipments, has once again turned India into a net steel importer. Rising shipments from South Korea, China, and Japan have contributed […]
India has plans to impose a new temporary tariff of 12% on steel imports, locally called the safeguard duties, intending to control the increase in cheap imports from China and elsewhere. One of the sources told Reuters on Monday that the government is set to enact the tax as soon as possible. Last month, as […]
Thailand’s Industry Ministry is moving to phase out certification [1] for steel produced using Induction Furnace (IF) technology, citing persistent concerns over quality control and environmental impact. The decision follows investigations revealing that IF steel often falls short of industry standards, raising alarms among regulators and prompting government intervention. Industry Minister Akanat Promphan announced that […]
Hoa Phat Group has officially commenced construction on a steel manufacturing facility [1] in Vietnam, set to produce high-grade railway rails for the first time in the country. The announcement came during the group’s annual general meeting (AGM) on April 17, where chairman Tran Dinh Long confirmed the project’s total investment of VND14 trillion ($556 […]
Rio Tinto has partnered with AMG Metals & Materials (AMG M&M), an energy transition solutions company supported by the founders of Greenko and AM Green, to evaluate the viability of creating an integrated low-carbon aluminium facility in India, powered entirely by renewable energy. The two companies have signed a Memorandum of Understanding (MOU). This partnership […]
ArcelorMittal Nippon Steel (AM-NS) has announced a massive investment [1] of ₹2.6 lakh crore ($30 billion) in India over the next decade, aiming to boost its steel production capacity significantly. The joint venture, which currently produces 9.6 million tonnes per annum (MTPA), plans to expand this to 15.6 MTPA by the end of the fiscal […]
China’s crude steel production surged in March [1], reaching its highest monthly level in nearly a year, as steelmakers ramped up output in response to favorable profit margins, strong export demand, and resilient manufacturing activity. The world’s largest steel producer manufactured 92.84 million metric tons of crude steel last month, marking a 4.6% increase from […]
The Centre has permitted ArcelorMittal Nippon Steel India (AM/NS India) to import an extra 71,500 metric tonnes of low ash metallurgical (LAM) coke from Poland, exceeding existing import restrictions. The decision came after the company warned that the curbs were disrupting its steel production, according to Moneycontrol. The exemption highlights industry concerns over supply constraints affecting […]
Thai authorities have intensified their investigation [1] into Xin Ke Yuan (SKY) Steel Ltd, confiscating servers from the company’s factory in Ban Khai district, Rayong province. The move comes after the company failed to submit documents detailing its steel manufacturing process by the April 10 deadline, raising concerns over its compliance with safety standards. The […]
U.S. President Donald Trump has opposed Nippon Steel’s [1] $14 billion bid to acquire U.S. Steel Corp, stating he does not want the American steel producer to be sold to Japan. His remarks have added uncertainty to the deal, which has already faced significant political and legal challenges. Trump’s comments appear to contradict recent actions […]
The Northern India Textile Research Association (NITRA) and the CSIR–National Botanical Research Institute (NBRI) in Lucknow have signed a Memorandum of Understanding (MoU) to boost sustainable innovation in India’s textile sector. The collaboration will focus on a detailed genomic analysis of Asclepias, or milkweed, a native plant with significant potential as a source of eco-friendly […]
The Baldota Group, a renewable energy company, announced on Thursday its plans to enter into the steel sector investing Rs 54,000 crore for a project in Karnataka with up to 10.5 million tonnes (MT) of production capacity. Nagaraj N B, Vice President of the Integrated Steel Project, in a company statement, stated that the greenfield project will […]
The United States has temporarily suspended [1] the additional 26% tariff on Indian imports for 90 days, offering relief to Indian exporters. The suspension, effective until July 9, 2025, was formalized through a White House executive order and is seen as a strategic move to facilitate ongoing bilateral trade negotiations between India and the US. […]
Indian metal stocks witnessed a sharp decline [1], with Tata Steel and other major players tumbling by up to 19% as global trade uncertainties and growth concerns rattled investor sentiment. The downturn was triggered by fears surrounding the impact of reciprocal tariffs imposed by the U.S. on steel and aluminum imports, which have raised doubts […]
Tata Steel has moved the Bombay High Court [1] after receiving a reassessment order that increases its taxable income for the financial year 2018-19 by over Rs 25,000 crore. The company argues that the reassessment is flawed and has challenged the order on both technical and legal grounds. The reassessment stems from a show-cause notice […]
Solar power is setting out an opportunity for the companies in steel sector to reduce their production cost, potentially saving up to 10% in some operations according to reports by Energy think tank Ember. The report says that the greatest benefits are observed in the standalone electric arc furnace( EAF) used in steel making, using […]
Asian spot market prices for nickel ore, nickel pig iron, and stainless steel showed resilience. Meanwhile, over 50 countries have expressed interest in discussing trade policy adjustments with the U.S. government. The impact of the introduction of reciprocal US tariffs last week has affected the nickel and iron ore market, with spot market prices for […]
Vietnam has announced temporary anti-dumping tariffs [1] on certain galvanized steel imports from China and South Korea, aiming to protect its domestic steel industry from unfair competition. The Ministry of Industry and Trade confirmed that the tariffs will take effect on April 16 and remain in place for 120 days. Under the new measures, Chinese […]
Higher Power Output from the Hydrogen Internal Combustion Engine and Greener Shipbuilding Steel – TSUNEISHI SHIPBUILDING Co., Ltd. has launched Japan’s first tugboat powered by a hydrogen internal combustion engine (ICE), marking a major milestone in sustainable maritime technology. This ship was launched on March 28, 2025, from the TSUNEISHI Factory. It features a high-performance […]
For the pioneering future of sustainable development, ARS Steel has successfully set a milestone for India’s construction industry, showcasing its dedication to net-zero targets through sustainable building practices and innovative technology by delivering India’s first green TMT bar to Trimetro Group for the construction of Epic Group’s state-of-the-art manufacturing facility in Bhubaneswar, Odisha. Epic Group […]
Iron ore prices faced downward pressure [1] following the announcement of fresh U.S. tariffs on steel imports, raising concerns over global trade disruptions. However, resilient demand for steel, particularly in China, helped cap losses, preventing a sharp decline in iron ore futures. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended […]
Thailand-based Xin Ke Yuan Steel is currently under investigation [1] after its deformed steel bars failed to meet safety standards, raising concerns about construction integrity. The company, which operates in Rayong Province, was previously ordered to shut down in December 2024 due to substandard steel production. However, recent inspections suggest that its steel may have […]
Liaoning Province-based steelmaker Lingyuan Iron and Steel Co., Ltd., a subsidiary of Ansteel Group, has reported a net loss [1] of RMB 1.678 billion ($0.23 billion) for 2024, marking a significant increase from its RMB 681 million loss in 2023. The company’s operating revenue for the year stood at RMB 18.097 billion ($2.5 billion), reflecting […]
South Korea’s exports expanded for the second consecutive month in March, though the growth fell short of market forecasts, indicating a potential weakening in the economic outlook, as manufacturers face heightened uncertainty due to the global trade tensions sparked by U.S. President Donald Trump’s tariff policies. New U.S. tariffs on automobiles will begin this week, and Trump […]
The steel industry, responsible for 7% to 9% of global carbon emissions, is under increasing pressure to decarbonize [1] as nations push toward net-zero targets by 2050. A major hurdle in reducing steel productions’ emissions lies in the iron ore-to-crude steel process, which currently relies heavily on coal, accounting for 80% of steel-related emissions. However, […]
China’s stainless steel crude steel production saw a notable increase [1] in March 2025, driven by industry expectations for peak seasonal demand and high raw material costs. However, production slightly declined in April due to environmental regulations and equipment maintenance. In March, domestic stainless steel production surged by 19.02% month-on-month (MoM) and 12.67% year-on-year (YoY). […]
Among the structural steel bars used in the construction of the State Audit Office building in Bangkok’s Chatuchak district, a sample from one supplier failed to meet the required standards (1). Thitipas Chotedechachainan, the Industry Minister’s aide, issued this statement following the collapse of a 30-story building during Friday afternoon’s earthquake, which caused numerous injuries, […]
The Delhi High Court has dismissed requests [1] from JSW Steel and Trafigura to clear shipments of low-ash metallurgical coke (met coke), a key raw material for steelmaking. The decision follows India’s recent policy of supporting domestic suppliers and imposing curbs on met coke imports. The policy, introduced in January, includes country-specific quotas and has […]
There have been discussions amongst the Union and State Governments for a comprehensive action plan to expand the Visakhapatnam Steel Plant (VSP). A member of the Union Ministry of Steel held a meeting with the Chief Minister (CM) N. Chandrababu, for delegating this initiative on Monday. The discussions mainly focused on the follow-up actions required […]
ArcelorMittal Nippon Steel India (AM/NS) said on March 28 that the joint venture company has started the land acquisition process in Andhra Pradesh to establish an integrated steel plant in the state. The initial payment has been made, for acquiring the land in Anakapalli district, and is expected to own it soon, for the company […]
Iran’s steel industry has reached a significant milestone [1], producing 30 million tons of crude steel in the past year. The Iranian Steel Producers Association (ISPA) reported that the annual output fell by 7 percent compared to the previous year, when production reached 32 million tons. The decline was primarily attributed to insufficient energy supply […]
The Indian alloy steel producers’ association is preparing to submit an anti-dumping petition with the federal trade ministry against cheap imports from China, said a senior executive to Reuters on Thursday. Being the world’s second-largest producer of crude steel, India has the capacity to make around 18-20 million metric tonnes per annum of alloy steel […]
The World Steel Association (WorldSteel) has announced a 3.4% decline [1] in global crude steel production for February 2025, bringing the total output to 144.7 million tonnes. This drop marks a challenging period for the steel industry amid rising costs and weaker demand. China, the leading steel producer, recorded a 3.3% decline, producing 78.9 million […]
South Korea’s Hyundai Steel has announced plans to invest $5.8 billion [1] in a new steel plant in Louisiana, United States. The facility, which will have an annual production capacity of 2.7 million tonnes, is part of Hyundai Motor Group’s broader $21 billion investment strategy in the U.S. market. The announcement, made during a high-profile […]
The stainless steel market in Taiwan is bracing for a significant price increase [1] in April, driven by a combination of rising raw material costs and global economic pressures. Industry experts have projected that this adjustment will reflect both local and international market dynamics, signaling a potential shift in the regional steel landscape. Market analysts […]
China’s steel industry is reportedly considering paying incentives to firms that are willing to shut down outdated steel plants, as a part of the government’s efforts to government’s broader strategy to reduce the country’s massive steel output. According to reports, China Iron and Steel Association, which represents steelmakers, began consulting with mills earlier this year […]
John Cockerill Signs MoU with IIT Bombay to Drive Innovation in Steel Decarbonisation Technology John Cockerill has entered into a Memorandum of Understanding (MoU) with the Indian Institute of Technology Bombay (IIT Bombay), one of India’s leading research and academic institutions. This partnership aims to promote innovation in steel decarbonization technology, the green hydrogen value […]
In a move to protect domestic steel producers, the Indian government has recommended a 12% temporary tax [1], known as a safeguard duty, on certain steel products. This measure, set to last for 200 days, is intended to curb the rising influx of steel imports impacting local industries. Under the Ministry of Commerce, the Directorate […]
Driven by market dynamics and policy shifts, India’s steel prices have seen a notable rise [1] in recent months. However, the specter of a global trade war looms large, raising concerns about the stability of the industry. In March 2025, hot rolled coil (HRC) prices in Mumbai increased by ₹600 per tonne month-on-month, reaching ₹49,000 […]
India’s steel industry is grappling with mounting challenges as cheap imports from China and aggressive global tariff policies put pressure on domestic prices and profitability. Leading steelmakers, including Tata Steel and JSW Steel, are facing reduced rating headroom, as highlighted by Fitch Ratings in its latest report. The influx of discounted steel imports from China […]
China, the world’s largest steel producer, reported a 1.5% year-on-year decline in crude steel production for the first two months of 2025. According to the National Bureau of Statistics, the country produced 166.3 million metric tons of crude steel during January and February, reflecting a slight decrease compared to the same period last year. Despite […]
Shares of Tata Steel witnessed a 2% rise [1] on Wednesday after global financial services firm JPMorgan revised its price target for the stock, forecasting a potential 20% upside. The brokerage reaffirmed its “overweight” rating, highlighting the company’s improved earnings outlook, particularly in its European operations, as a key driver for optimism. The stock gained […]
President Donald Trump has escalated trade tensions by threatening further tariffs [1] on imports, following retaliatory measures from the European Union and Canada. “Whatever they charge us, we’re charging them,” Trump told reporters at the White House. The ongoing dispute stems from Trump’s decision to impose a 25% tariff on steel imports, which he argues […]
SMS group has completed the automation system upgrade for the hot strip no.1 at PT Krakatau Steel (Persero), Tbk. PT Krakatau Steel (PTKS) has reached a significant milestone with the successful production of its first sellable coil at its facility in Cilegon. This achievement marks PTKS’s return to the Indonesian market as a producer of […]
The Clothing Manufacturers Association of India (CMAI) has established the SU.RE website and the SU.RE Sustainable Supply Chain Directory, which is a big step forward for India’s sustainable fashion movement. The website is a complete platform for the Indian textile industry’s transition to sustainable practices, and the directory includes 600+ recognized vendors from major categories […]
Japanese suitors are encountering increased challenges in U.S. mergers and acquisitions, as American targets are now more likely to demand substantial termination fees to safeguard against deals collapsing due to regulatory or political hurdles. This shift follows Nippon Steel’s stalled $14.9 billion bid for U.S. Steel, which has highlighted the growing risks tied to U.S. […]
SteelAsia Manufacturing Corp., the leading steel manufacturer in the Philippines, has commissioned its inaugural solar rooftop photovoltaic (PV) system in partnership with TotalEnergies ENEOS at its Meycauayan steel plant in Bulacan. The 1.9 megawatt-peak (MWp) solar power system is seen as a significant step in the company’s ongoing efforts to decarbonize its steel production operations. […]
President Donald Trump has reignited trade tensions by imposing sweeping tariffs on key trading partners, including Canada, Mexico, and China. Beginning his second term with a bold move, Trump reinstated a 25% tariff on steel imports, escalating the situation into a full-blown trade war with immediate retaliatory measures announced by affected nations. Effective from March […]
India’s steel trade experienced a significant downturn [1] in February 2025, with imports plunging by 40% year-on-year to 0.6 million tons. This sharp decline has been attributed to concerns over potential safeguard duties, dampening traders’ buying sentiment. The Directorate General of Trade Remedies (DGTR) is currently investigating allegations of steel dumping, and the possibility of […]
Nomura Research has highlighted the potential benefits of imposing safeguard duties [1] on Indian steel imports. According to the brokerage, such measures could significantly boost domestic steel prices and improve the margins of steel manufacturers. The domestic steel industry has been advocating for a 25% duty on imports to protect against the influx of cheap […]
