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Time of India
14 hours ago
- Business
- Time of India
India must brace for steel trade diversion, say industry leaders
India needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US. Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry. US President Donald Trump on Friday told Pennsylvania steelworkers that he would double the tariff on steel imports to 50 per cent to protect their industry, a dramatic hike that could further increase prices for a metal used to make housing, autos and other goods. In a post later on his Truth Social platform, he said aluminum tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect Wednesday. "We need to implement necessary trade measures proactively and in time," told PTI. Sharing his views, the industry leader said there is likely to be increased risk of trade diversion into India due to changing global tariffs. India is vulnerable given its strong domestic demand. Ranjan Dhar, Director & Vice President, Sales and Marketing, AMNS India said,"We hope more protection will come for domestic industry. Every country is protecting their industry. India should also do that as long as India focuses on protecting its industry from low price imports." The industry need to be watchful on imports, there is no doubt about that, he said. Earlier, Tata Steel CEO T V Narendran had said not imposing the protection measures for a prolonged period of time can impact the industry's investment plans, and impact on cash flows can adversely impact capex decisions. In FY25, steel imports rose 9.2 per cent to 10.5 million tonne, while exports declined sharply by 27 per cent to 6.3 million tonne, resulting in India remaining a net importer for the second year in a row. The government introduced a 12 per cent provisional safeguard duty on flat products from April 21, 2025, to help ensure a level playing field for local producers. JSW Steel and AMNS India are among top 5 steel producing companies in India with an annual production capacity of around 35 million tonne (MT), and 9 MT, respectively. Tata Steel recently completed the phase II expansion project of 5 MT at Kalinganagar in Odisha, taking its overall capacity to 26.1 million tonne in the country.
Time of India
a day ago
- Business
- Time of India
'India needs to be watchful of any trade diversion risk due to steel tariff challenges'
India needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US. Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry. US President Donald Trump on Friday told Pennsylvania steelworkers that he would double the tariff on steel imports to 50 per cent to protect their industry, a dramatic hike that could further increase prices for a metal used to make housing, autos and other goods. In a post later on his Truth Social platform, he said aluminum tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect Wednesday. "We need to implement necessary trade measures proactively and in time," JSW Steel Joint MD and CEO Jayant Acharya told PTI. Sharing his views, the industry leader said there is likely to be increased risk of trade diversion into India due to changing global tariffs. India is vulnerable given its strong domestic demand. Ranjan Dhar, Director & Vice President, Sales and Marketing, AMNS India said,"We hope more protection will come for domestic industry. Every country is protecting their industry. India should also do that as long as India focuses on protecting its industry from low price imports." The industry need to be watchful on imports, there is no doubt about that, he said. Earlier, Tata Steel CEO T V Narendran had said not imposing the protection measures for a prolonged period of time can impact the industry's investment plans, and impact on cash flows can adversely impact capex decisions. In FY25, steel imports rose 9.2 per cent to 10.5 million tonne, while exports declined sharply by 27 per cent to 6.3 million tonne, resulting in India remaining a net importer for the second year in a row. The government introduced a 12 per cent provisional safeguard duty on flat products from April 21, 2025, to help ensure a level playing field for local producers. JSW Steel and AMNS India are among top 5 steel producing companies in India with an annual production capacity of around 35 million tonne (MT), and 9 MT, respectively. Tata Steel recently completed the phase II expansion project of 5 MT at Kalinganagar in Odisha, taking its overall capacity to 26.1 million tonne in the country.
Time of India
a day ago
- Business
- Time of India
'India needs to be watchful of any trade diversion risk due to steel tariff challenges'
India needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US. Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry. US President Donald Trump on Friday told Pennsylvania steelworkers that he would double the tariff on steel imports to 50 per cent to protect their industry, a dramatic hike that could further increase prices for a metal used to make housing, autos and other goods. In a post later on his Truth Social platform, he said aluminum tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect Wednesday. "We need to implement necessary trade measures proactively and in time," JSW Steel Joint MD and CEO Jayant Acharya told PTI. Live Events Sharing his views, the industry leader said there is likely to be increased risk of trade diversion into India due to changing global tariffs. India is vulnerable given its strong domestic demand. Ranjan Dhar, Director & Vice President, Sales and Marketing, AMNS India said,"We hope more protection will come for domestic industry. Every country is protecting their industry. India should also do that as long as India focuses on protecting its industry from low price imports." The industry need to be watchful on imports, there is no doubt about that, he said. Earlier, Tata Steel CEO T V Narendran had said not imposing the protection measures for a prolonged period of time can impact the industry's investment plans, and impact on cash flows can adversely impact capex decisions. In FY25, steel imports rose 9.2 per cent to 10.5 million tonne, while exports declined sharply by 27 per cent to 6.3 million tonne, resulting in India remaining a net importer for the second year in a row. The government introduced a 12 per cent provisional safeguard duty on flat products from April 21, 2025, to help ensure a level playing field for local producers. JSW Steel and AMNS India are among top 5 steel producing companies in India with an annual production capacity of around 35 million tonne (MT), and 9 MT, respectively. Tata Steel recently completed the phase II expansion project of 5 MT at Kalinganagar in Odisha, taking its overall capacity to 26.1 million tonne in the country. Economic Times WhatsApp channel )
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Business Standard
a day ago
- Business
- Business Standard
'India needs to dodge trade diversion risk due to steel tariff challenges'
India needs to be watchful of any increased risk of trade diversion into the country due to changing global tariffs, top steel industry executives said reacting to the tariff-related announcement by the US. Major steel players JSW Steel and AMNS India said there is a need to implement necessary trade measures proactively as every country is protecting their industry. US President Donald Trump on Friday told Pennsylvania steelworkers that he would double the tariff on steel imports to 50 per cent to protect their industry, a dramatic hike that could further increase prices for a metal used to make housing, autos and other goods. In a post later on his Truth Social platform, he said aluminum tariffs would also be doubled to 50 per cent, and both tariff hikes would go into effect Wednesday. "We need to implement necessary trade measures proactively and in time," JSW Steel Joint MD and CEO Jayant Acharya told PTI. Sharing his views, the industry leader said there is likely to be increased risk of trade diversion into India due to changing global tariffs. India is vulnerable given its strong domestic demand. Ranjan Dhar, Director & Vice President, Sales and Marketing, AMNS India said,"We hope more protection will come for domestic industry. Every country is protecting their industry. India should also do that as long as India focuses on protecting its industry from low price imports." The industry need to be watchful on imports, there is no doubt about that, he said. Earlier, Tata Steel CEO T V Narendran had said not imposing the protection measures for a prolonged period of time can impact the industry's investment plans, and impact on cash flows can adversely impact capex decisions. In FY25, steel imports rose 9.2 per cent to 10.5 million tonne, while exports declined sharply by 27 per cent to 6.3 million tonne, resulting in India remaining a net importer for the second year in a row. The government introduced a 12 per cent provisional safeguard duty on flat products from April 21, 2025, to help ensure a level playing field for local producers. JSW Steel and AMNS India are among top 5 steel producing companies in India with an annual production capacity of around 35 million tonne (MT), and 9 MT, respectively. Tata Steel recently completed the phase II expansion project of 5 MT at Kalinganagar in Odisha, taking its overall capacity to 26.1 million tonne in the country. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
3 days ago
- Business
- Time of India
AMNS India targets 25% share in colour-coated steel market with new Optigal product line
New Delhi: ArcelorMittal Nippon Steel India ( AMNS India ) announced the launch of two new colour-coated steel products— Optigal Prime and Optigal Pinnacle —as part of its strategy to capture a 25 per cent share in India's 3.4 million tonne colour-coated steel market within the next two to three years. The announcement comes amid a steady 10–12 per cent annual growth in domestic demand for colour-coated steel, driven by sectors such as airports, railways, metro projects, and highways. 'We have launched Optigal Prime and Optigal Pinnacle , a totally new product range in the domestic steel industry, to cater to this demand. We are targeting sectors like highways, railways, metros, airports with our innovative and sustainable product,' said Ranjan Dhar, Director and Vice President, Sales and Marketing, AMNS India. Dhar said AMNS India is currently the only domestic producer of C4 category high-end corrosion-resistant colour-coated steel, which until now was available only in European markets. The new product line will be manufactured at the company's Pune facility. AMNS India's current colour-coated steel capacity stands at around 7 lakh tonnes annually, with plans to scale up to one million tonnes in the near future. Optigal Prime is designed for urban and moderately corrosive environments and comes with a 15-year warranty. It is available in finishes such as Silicon Modified Polyester (SMP), Super Durable Polyester (SDP), and PVDF. Optigal Pinnacle, positioned for more demanding industrial and coastal applications, is backed by a 25-year warranty and features PU/PA coatings for protection against moisture, UV exposure, and temperature variations. Six specialised variants of Optigal Prime and Optigal Pinnacle—High Gloss, Anti-Dust, Anti-Graffiti, Anti-Static, Anti-Microbial, and Cool Roof—have been developed using Zinc-Aluminium-Magnesium technology. This coating provides up to three times the corrosion and weather resistance compared to conventional coatings. The company said these new offerings will help support the government's infrastructure goals under the 'Viksit Bharat' programme. The products have been designed in line with the 'Make in India' initiative, incorporating low VOC emissions, no heavy metals or hexavalent chromium, and 100 per cent recyclability. 'These products mark a significant step forward as we continue to strengthen our value-added product portfolio in line with our brand promise – Smarter Steels, Brighter Futures,' Dhar said. The launch is aligned with the company's focus on expanding its value-added steel segment and meeting demand from India's rapidly growing infrastructure and construction sectors.
