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Time of India
3 days ago
- Business
- Time of India
Steel, aluminium stocks slide up to 2.5% as US doubles tariffs to 50% on imports
ADVERTISEMENT ADVERTISEMENT Shares of Indian steel and aluminium companies fell up to 2.5% in Monday's trade after the US President Donald Trump will double existing tariffs from 25% to 50% on steel and aluminium products imported into the United States, with effect from June 4, Monday, the shares of Hindalco witnessed the steepest intraday decline among metal stocks, falling by 2.4% to touch a low of 633.35. NALCO and SAIL shares both recorded a 2.2% dip, hitting intraday lows of 176.40 and 126.40, shares of JSW Steel and Tata Steel each slipped 2% in early trade, with JSW Steel touching 993.80 and Tata Steel dropping to 157.65. Jindal Stainless shares saw a decline of 1.6%, hitting a low of 633.35, while NMDC also fell 1.6% to 70.04Meanwhile, NMDC Steel shares declined by 1.5%, reaching an intraday low of 37.53, and those of Jindal Steel & Power dipped 1.47% to development has significant implications for India's export-oriented metal sector. As per government data, India exported USD 4.56 billion worth of iron, steel, and aluminium products to the US in revised tariff structure is expected to directly impact this segment by making Indian products more expensive and less competitive in the U.S. the total USD 4.56 billion in exports, USD 587.5 million came from iron and steel, USD 3.1 billion from articles of iron or steel, and USD 860 million from aluminium and its related products. These products, now subject to sharply increased tariffs, face the risk of reduced demand in one of India's key export tariff hike was formally announced on May 30, 2025, under Section 232 of the U.S. Trade Expansion Act of 1962, which allows the American President to impose trade restrictions if imports are deemed a threat to national move revives the trade policy provision first used by Trump in 2018 to impose a 25% tariff on steel and 10% on aluminium, which were then increased to 25% across both categories earlier in February a result of the latest tariff action, US steel prices are expected to surge beyond USD 1,180 per tonne, driving up input costs for several downstream industries, including automotive, construction, and manufacturing. India has already raised a notice at the World Trade Organization (WTO) in response to the decision and may consider further action.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
3 days ago
- Business
- Time of India
Steel, aluminium stocks in focus as US doubles tariffs to 50% on imports
Shares of Indian steel and aluminium companies are expected to be in focus on Monday after the US President Donald Trump will double existing tariffs from 25% to 50% on steel and aluminium products imported into the United States, with effect from June 4, 2025. The tariff escalation is expected to pressure major Indian metal companies such as Tata Steel , JSW Steel , Hindalco Industries , and NALCO , all of which have substantial exposure to the US market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Indonesia (Prices May Surprise You) Container House | Search ads Search Now Undo The development has significant implications for India's export-oriented metal sector. As per government data, India exported USD 4.56 billion worth of iron, steel, and aluminium products to the US in FY2025. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. The revised tariff structure is expected to directly impact this segment by making Indian products more expensive and less competitive in the U.S. market. Also read: Vodafone Idea shares in focus after reporting Rs 7,166 cr Q4 loss Live Events Of the total USD 4.56 billion in exports, USD 587.5 million came from iron and steel, USD 3.1 billion from articles of iron or steel, and USD 860 million from aluminium and its related products. These products, now subject to sharply increased tariffs, face the risk of reduced demand in one of India's key export destinations. The tariff hike was formally announced on May 30, 2025, under Section 232 of the U.S. Trade Expansion Act of 1962, which allows the American President to impose trade restrictions if imports are deemed a threat to national security. The move revives the trade policy provision first used by Trump in 2018 to impose a 25% tariff on steel and 10% on aluminium, which were then increased to 25% across both categories earlier in February 2025. As a result of the latest tariff action, US steel prices are expected to surge beyond USD 1,180 per tonne, driving up input costs for several downstream industries, including automotive, construction, and manufacturing. India has already raised a notice at the World Trade Organization (WTO) in response to the decision and may consider further action. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
3 days ago
- Business
- Economic Times
Steel, aluminium stocks in focus as US doubles tariffs to 50% on imports
Shares of Indian steel and aluminium companies are expected to be in focus on Monday after the US President Donald Trump will double existing tariffs from 25% to 50% on steel and aluminium products imported into the United States, with effect from June 4, 2025. ADVERTISEMENT The tariff escalation is expected to pressure major Indian metal companies such as Tata Steel, JSW Steel, Hindalco Industries, and NALCO, all of which have substantial exposure to the US market. The development has significant implications for India's export-oriented metal sector. As per government data, India exported USD 4.56 billion worth of iron, steel, and aluminium products to the US in FY2025. The revised tariff structure is expected to directly impact this segment by making Indian products more expensive and less competitive in the U.S. market. Also read: Vodafone Idea shares in focus after reporting Rs 7,166 cr Q4 loss Of the total USD 4.56 billion in exports, USD 587.5 million came from iron and steel, USD 3.1 billion from articles of iron or steel, and USD 860 million from aluminium and its related products. These products, now subject to sharply increased tariffs, face the risk of reduced demand in one of India's key export destinations. ADVERTISEMENT The tariff hike was formally announced on May 30, 2025, under Section 232 of the U.S. Trade Expansion Act of 1962, which allows the American President to impose trade restrictions if imports are deemed a threat to national move revives the trade policy provision first used by Trump in 2018 to impose a 25% tariff on steel and 10% on aluminium, which were then increased to 25% across both categories earlier in February 2025. ADVERTISEMENT As a result of the latest tariff action, US steel prices are expected to surge beyond USD 1,180 per tonne, driving up input costs for several downstream industries, including automotive, construction, and manufacturing. India has already raised a notice at the World Trade Organization (WTO) in response to the decision and may consider further action. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
The Hindu
5 days ago
- Business
- The Hindu
Doubling tariff on steel, aluminium by U.S. to impact Indian exporters: GTRI
'U.S. President Donald Trump's announcement to double tariffs on imported steel and aluminium will impact Indian exporters, as it would hurt their profitability,' think tank Global Trade Research Initiative (GTRI) said on Saturday (May 31, 2025.) On May 30, Mr. Trump announced that he would double the existing 25% tariffs on steel and aluminium imports from June 4. This hike comes under Section 232 of the U.S. Trade Expansion Act of 1962, a law that allows the President to impose tariffs or other trade restrictions if imports are deemed a threat to national security. Mr. Trump originally invoked this provision in 2018 to set the 25% tariff on steel and 10% on aluminium. He raised tariffs on aluminium to 25% in February 2025. 'For India, the consequences are direct,' the (GTRI) said. In 2024-25, India exported $4.56 billion worth of iron, steel, and aluminium products to the U.S., with key categories, including $587.5 million in iron and steel, $3.1 billion in articles of iron or steel and $860 million in aluminium and related articles. "These exports are now exposed to sharply higher U.S. tariffs, threatening the profitability of Indian producers and exporters," GTRI founder Ajay Srivastava said. India has already issued a formal notice at the World Trade Organization (WTO) signalling its intention to impose retaliatory tariffs on U.S. goods in response to the earlier steel tariffs. "With Trump now doubling the tariffs, it remains to be seen whether India will carry out the retaliation by increasing tariffs on certain U.S. exports within a month," he said.
India Gazette
5 days ago
- Business
- India Gazette
Trump's revised tariffs on steel and aluminium threaten India's USD 4.56 Billion exports to U.S: GTRI
New Delhi [India], May 31 (ANI): U.S. President Donald Trump's decision to double tariffs on steel and aluminium imports is set to impact India's metal exports worth USD 4.56 billion, a report by Global Trade Research Initiative (GTRI) has warned. The revised tariffs, which will come into effect from June 4, 2025, are likely to hurt Indian producers and exporters by making their products more expensive in the U.S. market. GTRI said 'For India, the consequences are direct. In FY2025, India exported USD 4.56 billion worth of iron, steel, and aluminum products to the U.S. According to the GTRI report, the United States has been a major destination for India's metal exports. In FY2025, India exported USD 4.56 billion worth of iron, steel, and aluminium products to the U.S. This included USD 587.5 million in iron and steel, USD 3.1 billion in articles of iron or steel, and USD 860 million in aluminium and related articles. These products now face sharply higher tariffs, making it difficult for Indian exporters to remain competitive. Trump announced on May 30 that the U.S. will raise the existing 25 per cent tariffs on steel and aluminium to 50 per cent, citing national security concerns under Section 232 of the U.S. Trade Expansion Act of 1962. This law allows the U.S. president to impose trade restrictions if imports are considered a threat to national security. Trump had originally used this provision in 2018 to impose a 25 per cent tariff on steel and 10 per cent on aluminium. Earlier this year, in February 2025, aluminium tariffs were already increased to 25 per cent. The GTRI report stated that the new tariffs are expected to push U.S. steel prices above USD 1,180 per tonne, increasing costs for key industries like automobiles, construction, and manufacturing. India has already issued a notice to the World Trade Organization (WTO) in response to these tariffs and is likely to take further action. The GTRI also raised concerns about the environmental aspect of this move. Steel and aluminium production are among the most carbon-intensive industries globally. While other major economies are investing in green steel and aluminium technologies, the U.S. decision lacks any climate conditions. The GTRI pointed out that this shows the Trump administration is prioritizing economic nationalism over environmental responsibility, raising questions about America's commitment to global climate goals and sustainable industry development. (ANI)
