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Tata Steel CEO & MD T V Narendran said Indian steel prices touched their lowest level in five years in 2025, even though domestic demand and supply remained strong. Speaking to employees in Jamshedpur at a New Year function, he attributed the weak pricing environment to intensifying global trade disruptions and protectionism, which have made cross-border material flows harder and distorted trade.
Narendran also pointed to a slowdown in China’s steel-consuming construction sector, which has pushed Chinese mills to export aggressively for a second year. He said China exported more than 100 million tonnes, roughly comparable to India’s total steel production, adding surplus to global markets. While Chinese steel was not entering India in large quantities, the excess supply made exports difficult for Indian producers and kept domestic prices well below international prices for much of the year.
He said Tata Steel performed better financially than in prior years, and reiterated that Jamshedpur’s scope for volume growth is limited, so the focus is shifting toward value-added products, including investments such as the Combi Mill and tinplate expansion. Narendran also outlined capacity actions across Tata Steel’s India footprint, including Kalinganagar (3 → 8 mt) and expansion plans at other sites.
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