News Formal

India's Steel Industry Battles Surge of Cheap Imports

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 20 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 68%

Indian Steel Industry News

Steel Imports,Steel Exports,China Steel

India's steel industry faces challenges due to a surge in cheap steel imports, particularly from China, leading to calls for government intervention.

It seems all the fears expressed by Indian steelmakers and policymakers are coming true. There just seems to be no stopping the flood of cheap steel imports into domestic markets, a problem that continues to cause great agony for Indian steel manufacturing leaders. India became a net importer of steel in the first quarter of FY25 April to June, with steel imports exceeding exports by approximately 0.6 million tons MT.

A group led by the Institute of Minerals and Materials Technology IMMT recently evinced interest in piloting this initiative using a 100% hydrogen-based DRI production method. According to the reports, the Indian Steel Ministry will partially support the project.However, experts project that the market for DRI gas and coal-based will grow by 5% to 54 MT compared to the last fiscal year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

India's Steel Industry Battles Cheap Chinese ImportsIndia's steel industry faces a crisis as cheap Chinese imports flood the market, leading to calls for import curbs and concerns about the nation's steelmaking future.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Zimbabwe's Steel Industry Revitalized with New $1.5 Billion PlantZimbabwe's new $1.5 billion steel manufacturing plant, constructed with Chinese investment, aims to transform the country's iron and steel industry and alleviate its economic crisis.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Liberty Ostrava's Insolvency Raises Concerns for European Steel IndustryLiberty Steel Ostrava, a major steel manufacturing plant in the Czech Republic, faces insolvency and seeks a buyer amidst financial difficulties and uncertainty surrounding carbon emissions allocations.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Steel Industry Reacts to Import Caps and Tariffs with Cautious ApproachThe European steel industry faces uncertainty as import caps, tariffs, and economic factors impact prices and demand.
Source: OilandEnergy - 🏆 34. / 68 Read more »