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✅ Fitch warns of pressure on Indian steel prices due to Chinese imports and tariffs.
✅ Indian producers face profitability risks despite safeguard duties.
✅ Global tariff volatility adds to market uncertainty for Indian steelmakers.
Indian steel prices are facing mounting pressure due to a surge in Chinese imports and rising tariff challenges, Fitch Ratings warned in a recent report. The rating agency highlighted that an increase in low-cost steel imports from China has put downward pressure on domestic steel prices, affecting profit margins for Indian producers.
Fitch noted that India’s recent consideration of a safeguard duty of up to 15% on steel imports is aimed at protecting domestic manufacturers from unfair trade practices. However, the growing influx of Chinese steel, driven by China’s excess production capacity and export push, remains a significant challenge. The agency cautioned that if import volumes continue to rise, Indian steelmakers could struggle to maintain profitability despite protective measures.
Additionally, global tariff uncertainties, including the US imposing a 25% duty on steel imports, have created volatility in the international market. Indian steel exporters are also facing increased competition in key markets, which could further strain revenues. Fitch maintained a cautious outlook on India’s steel sector, suggesting that continued government intervention and protective trade policies will be critical to safeguarding domestic steelmakers.
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