India

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JSW Steel increased steel production by 10% y/y in April-June

During the first quarter of the 2023/2024 financial year, the company's Indian plants produced 6.19 million tons of steel

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India increased steel imports from China to a 6-year high in April-May

India's government is considering imposing a countervailing duty on steel imports from China amid a surge in supplies

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India’s steel exports fell to a six-month low in June

In one month, Indian steelmakers shipped 502,000 tons of steel for export

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The level of export prices on the global steel market decreased in June

Chinese producers maintain a price advantage, India cannot withstand competition with China

metinvest.media
India’s steel exports in June will show further decline – forecast

In January-May, according to preliminary data, the country reduced steel exports by 33% y/y

metinvest.media
Indian steel will gain greater access to the US market

The US will exempt some steel and aluminum exports from India from Section 232 duties

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CBAM will affect 15-40% of Indian steel exports to Europe

India exports 3-5 million tons of rolled steel to Europe every year

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India is considering a countervailing duty on steel imports from China

The proposal has been made, but the final decision has not yet been made

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India may roll back countervailing duty on stainless steel imports

The Ministry of Finance has already been recommended to introduce a duty of 19%

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India to introduce 40 million tons of new steelmaking capacity by FY2025/2026

Domestic steelmaking capacity is expected to reach 255 million tons by 2030/2031 financial year

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The EU and India will negotiate on the application of CBAM

Indian industrialists are concerned about the future impact of the mechanism on the country's exports

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Demand for steel in India increased by 13.3% y/y in the FY 2022/2023 – JSW Steel

The company predicts steel demand growth of 7-8% in the 2023/2024 financial year

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