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
Indian steel exports are expected to cool in the coming months as overseas orders soften, particularly from Europe, according to a latest report by Elara Capital. The brokerage noted that exports surged 83% month-on-month in October to around 0.73 million tonnes, largely because European buyers front-loaded purchases ahead of the EU’s forthcoming carbon tax regime. That one-off stocking boost is unlikely to be repeated, and new export bookings for December have largely dried up, except for limited volumes of coated steel.
At the same time, India’s steelmakers are grappling with a squeeze on margins. Crude steel output in October rose 6% year-on-year to roughly 13.6 million tonnes, and early November data indicates production is still increasing. However, domestic prices are slipping, with benchmark hot-rolled coil (HRC) falling to about ₹46,750 per tonne in November, even as Australian coking coal costs climbed 7%.
Elara Capital expects earnings pressure in the third quarter, estimating that the market can only absorb small price hikes of ₹500–1,000 per tonne. Meanwhile, global steel output dropped 6% in October, with China’s production down 12%, though its exports have picked up ahead of a planned steel export licensing regime from January 1, 2026.
Also Read : Rourkela Steel Plant expansion gets fresh push as Odisha CM assures full support Five infra projects recommended for approval
Tamilnadu Coke & Power Ltd (TNCPL) has received orders for ₹23 crore in low ash metallurgical co...
Mid Corporate 07-Feb-2024
India's steel exports soared to an 18-month peak, reaching 1.1 million tonnes (MT) in January 2024,...
Ferrous 26-Feb-2024
Chinese overproduction due to a demand-supply mismatch in the country is driving its companies to ex...
Business 22-Jul-2024
India to Develop High-Grade Steel for Auto Sector, Cut Import Dependence Union Steel and Heavy Indu...
Announcement 11-Sep-2025
Chennai is set to witness a major infrastructure milestone as work on the city’s first steel b...
Construction 03-Mar-2025
✅ India faces risks of steel and aluminium dumping due to US tariff changes.✅ Industry calls for p...
Business 04-Apr-2025