Former U.S. President Donald Trump has announced a sharp increase in tariffs on steel and aluminium imports from 25% to 50%, effective June 4, 2025. Framing the move as a step to protect American industry, Trump also approved a revised deal allowing Japan’s Nippon Steel to invest in US Steel....
India’s finished steel imports from China, South Korea, and Japan surged, turning the country into a net importer. Rising demand, fueled by infrastructure projects and urban expansion, contrasts with slow domestic supply growth. Imports from major Asian exporters soared, while India’s steel exports dropped to a seven-year low. The government...
India remains a net steel importer, with China as its top supplier, importing 2.69 million metric tons and exporting 1.57 million tons this fiscal year. Despite strong domestic demand, steel prices have dropped to a three-year low due to rising imports and sluggish exports. India stood out as the only...
Steel plays a pivotal role in the generation, transmission, and optimization of energy, making it an indispensable sector for any economy. Anticipated to experience substantial demand in both the domestic and global arenas, steel is poised to retain its significance in the foreseeable future. With India strategizing to double its...
India’s steel capacity and production have grown steadily over the last 9 years, making the country a net exporter of steel. However, with domestic HRC trading at a premium to imports, there is a strong possibility of India turning a net importer of steel again in 2023-24. IBT analyses the...
Domestic demand of steel is expected to record double digit growth of around 11.3% in FY23 after recording an 11.5% growth in FY22. Going forward, the sector sees strong prospects for expansion, led by overall demand growth across industries and planned investments in infrastructure. Image Credit: Shutterstock India is expected...
The steel industry faced a volatile and rapidly changing market in the first half of 2022, with prices and supply changing hastily due to a variety of factors, including geopolitical conflict, raw material costs and supply chain constraints, apart from the imposition of export duty by the government. Nonetheless, the...
India’s steel industry faces disadvantages due to FTAs with Japan and South Korea despite being the most cost competitive among major global steel producers. It is important for the government to renegotiate the FTAs with provisions to curb excess imports. India’s overall merchandise trade deficit with major RTA/FTA partners has...
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