Steel Exports

India's April-February finished steel exports slump 52%: Govt data

Major steelmakers reported a drop in profits in the December quarter, in part because the government in May imposed the tax, which applied to exports of some intermediate steel products, such as bars

JSW Steel sees exports at more than 10% of 2022-23 sales, says official

His comments come after JSW, India's largest steelmaker by capacity, on Friday reported an 89% fall in profits for the quarter ended Dec. 31, hurt by a 56% slump in exports

India's April-December finished steel exports decline 54% YoY: Data

India's exports of finished steel more than halved during the first nine months of the fiscal year that began in April 2022, according to the latest government data

India's April-Nov finished steel exports fall 55% YoY on low demand: Report

India's finished steel exports more than halved during the first eight months of the current fiscal year that began in April, according to the latest government data reviewed by Reuters

Removal of export duty to help steel makers pull up profits, say experts

The removal of export duty on steel products will help the domestic metal producers pull up their profits with now having the freedom to explore overseas markets as well, experts said. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months after imposition of the levy on May 21. The relief comes on the back of domestic steel prices correcting by 15-20 per cent since these duties were imposed, Jayanta Roy, Senior Vice President & Group Head, Icra Limited, said. "We believe that the latest measure will help pull up the industry's profits from the second quarter lows as companies now get the freedom to explore overseas markets, depending on the pricing environment," the expert said. SteelMint India also termed the government's decision of withdrawing export duty on steel and raw material as a positive move for the industry. However, according to the research firm, the move may not help the industry in the short ..

Export opportunities limited right now: JSW Steel's Seshagiri Rao

Withdrawal of export duty may not increase volumes will boost sentiment, he says

Export duty removal will lead to era of growth for steel industry: Scindia

Removal of export duty on steel products will lead to a new era of growth for the domestic steel industry which has gained footprint internationally, Union minister Jyotiraditya Scindia said on Monday. It has taken years for the domestic steel industry to gain footprint in the international markets, the steel minister said at the 3rd Indian Steel Association (ISA) conference here. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months after imposition of the levy on May 21. "It has taken if not months then years for our industry to be able to to firmly plant its footprint internationally... (On) steel product, the duty has been removed completely from Friday evening enabling a new era for the steel industry to grow," he said. The decision was taken very judiciously after taking all stakeholders' concerns into account. There were several rounds of discussions with the advisory committees on integrated steel plan

Export duty on steel was imposed to control inflation: JSW chairman

The government had levied export duty on steel to control inflation which has now come down, JSW Group Chairman Sajjan Jindal said on Monday. He made the remarks reacting to the government's action of removing the export duty on steel items. "Duty was brought in because there was huge pressure on inflation and government wanted to cool down the inflation and the industry supported the government in the efforts," he told PTI on the sidelines of the 3rd Indian Steel Association (ISA) Conclave event here. Inflation has come down and the steel prices have also corrected in the domestic as well as global market, Jindal said without sharing any details. At that time, the government felt duty is important. It has been removed now and industry welcomes the move. The industry will continue to make steel for domestic needs as well as for world market, he added. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months afte

JSW Steel expects exports to hit over 5-year low in FY23 on reduced demand

JSW Steel aims to produce 25 million tonnes of crude steel this year, up 28% from last year

Govt actively studying duties levied on steel exports: Jyotiraditya Scindia

The government is actively studying the issue of export duty which was imposed on certain grades of steel in May this year. The matter is being discussed at the highest level, Union steel minister Jyotiraditya Scindia told reporters at the National Management Convention organised by the All India Management Association (AIMA) here. "This is something which is under active study by my department as well as the government. We are certainly discussing this at the highest level. When a decision is taken on this you shall be be informed," he said in reply to a question whether government is considering removing export duty on iron ore and steel intermediaries. On May 21, the government hiked the duty on exports of iron ore by up to 50 per cent and for a few steel intermediaries to 15 per cent. It also waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry. The move was aimed at increasing the availability of these raw ..

Export levy impact: Tata Steel deliveries drop 2% YoY despite higher output

Tata Steel said domestic despatches were up 5% YoY, leveraging a strong marketing network and an agile business model

Export levy likely to push steel companies to review expansion plans

Major private sector steel producers said that the capacity expansion plans were based on assumptions in the sales mix - between domestic and export markets - which has now gone haywire

India's steel exports likely to remain strong on regional demand: Moody's

India's steel exports are expected to remain strong in the coming months as higher prices and regional demand would drive the steel companies to divert part of their output to exports

Russian-Ukraine war impact: Steel producers feel a new pinch in India

The Russia-Ukraine crisis has seen product prices soar, but raw material costs are rising even further

Multiple tailwinds in NMDC point to major upside, mine-lease premium weighs

Favourable demand-supply situation pushing up ore prices, value unlocking through demerger, high dividends and cheap valuations are key positives

Indian steel companies see long-term change as industry rally continues

DMarket has rising since November and even lockdowns for Covid-19 have not hurt demand, say executives.

A global first: Tata Steel-HSBC do blockchain-enabled paperless trade deal

The live trade finance transaction involved export of steel by Tata Steel, India to Universal Tube & Plastic Industries, UAE

Smaller steel producers trail top six players in scaling up production

Shortage of iron ore, spike in input costs are the major impediments

Domestic steel demand seen down by 10-12% in FY21: Brickwork Ratings

In Q1FY21, finished steel production crashed by 49% and consumption by 53% compared with Q1FY20 levels

Tata Steel: Rising demand, steel prices and integrated ops bode well

During Q2, Tata Steel not only achieved its highest-ever domestic deliveries of 5.05 million tonnes (MT), volumes at its European operations too, rebounded to year-ago levels