JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
· Brazilian pig iron exports jumped 20%+ MoM in March, driven by US & EU demand.
· Indian buyers may face price pressure and reduced availability.
· Local sourcing and diversification may be key for India’s steel sector.
Brazil witnessed a significant surge in pig iron exports in March 2025, signaling renewed strength in global demand and trade activity. According to customs data, Brazilian pig iron exports rose by over 20% month-on-month, with the US and European markets accounting for a major share of the volumes.
The spike in exports is largely attributed to stable production, attractive pricing, and strong buying interest from international markets facing local supply constraints. However, for Indian steelmakers and foundries, this development poses a mixed outlook.
India, which relies partially on imported pig iron—especially foundry-grade—may face increased global competition and pricing volatility, as more tonnage is diverted towards higher-paying Western markets. Indian buyers could see elevated prices or longer lead times if Brazilian exporters continue prioritizing demand from the US and EU.
Industry analysts suggest that Indian companies may need to strengthen domestic sourcing or explore alternate import origins to mitigate risks in Q2. Moreover, any currency fluctuations could further impact landed costs for Indian importers.
Also Read : Global Jitters, FIIs Pullout Trigger Sharp Market Crash in India: What It Means for the Steel Sector India’s Steel Industry Races Toward 300 MTPA Target by 2030 Amid Key Challenges
Copper futures on Monday fell ₹3.80 to ₹719.40 per kilogram as participants cut their positions amid...
Non-Ferrous 19-Feb-2024
Coal India, a state-owned coal miner, declared a higher-than-expected ₹9,093.69 crore consolidated n...
Mid Corporate 13-Feb-2024
ICRA predicts domestic steel consumption growth will slow to 7-8% in FY25, following three consecuti...
Ferrous 07-Mar-2024
India's reliance Industries, operator of the world's biggest refining complex, will not buy Russian...
Business 21-Mar-2024
The Goa Industrial Development Corporation (Goa-IDC) is working with the Confederation of Indian Ind...
Announcement 23-Jan-2024
NTPC Green Energy Ltd (NGEL) has signed an initial agreement with Indus Towers Ltd to address the ne...
Renewables 19-Apr-2024