Steel
Kalyani Steels appoints Amit Kalyani as board's chairman
Amit, who is the Vice Chairman and Joint Managing Director of Bharat Forge Ltd, has been closely associated with the Kalyani Group's businesses for over 25 years and has led the Group's expansion into aerospace, defence, electric mobility and advanced materials, a statement said.
India has navigated impact on costs and supply chains well: JSW Steel CEO Jayant Acharya
JSW Steel is investing heavily in growth, expecting India's steel demand to remain strong through upcoming years. Geopolitical uncertainties are being managed, and India's growth outlook has been positively adjusted by the IMF. The company reported a drawdown in inventory, indicating solid demand. JSW Steel has achieved a strong financial position through internal accruals and debt reduction. They are committed to expanding production capacity and focusing on high-value products.
JSW Steel and Japan's JFE to add 5 MT steel capacity at Odisha JV plant with Rs 7,500 cr investment
JSW Steel and JFE Steel have entered into a mutual agreement to enhance their joint venture steel initiative in Odisha. With a notable investment of Rs 7,500 crore from both parties, this ambitious project targets an increased production capacity of 9.5 million tonnes by FY31. In addition, further investments will support improvements in other steel and mining activities, reinforcing their competitive edge and significantly upgrading their product range.
Welspun Corp bags ₹5,500 crore US natural gas pipeline order
Welspun Corp has announced that its US subsidiary, Welspun Tubular LLC, secured a significant order worth ₹5,500 crore. This order involves supplying coated line pipes for a gas pipeline project in the Permian region. The project will cater to a data centre complex operated by a leading global infrastructure company. Execution of the order will take place at Welspun's US facility in FY29.
EU carbon tax: Piyush Goyal asks Europe not to 'invite disaster' or 'shoot themselves in the foot'
Goyal said the EU had accumulated around 75-77 regulations, arguing that repeated additions were increasing the compliance burden on businesses and making them less competitive in global markets.
ArcelorMittal & SA's IDC close in on $610 m deal
South Africa's Industrial Development Corporation has agreed to acquire ArcelorMittal SA's local unit for about $610 million. This anticipated deal marks a significant intervention by the government in the industrial sector. The transaction aims to complete by the end of this year, pending a shareholder vote. Shares in ArcelorMittal SA saw a substantial increase following this announcement.
Welspun Corp’s $350 million US bet rides rising oil, gas pipeline demand
Welspun Corp is focusing on the US market by investing $300-350 million in two manufacturing plants. The company aims to benefit from increased oil and gas pipeline demand due to rising energy costs. One of its US plants has already been commissioned, while the second will be operational by year-end. Welspun also plans to expand its presence in Saudi Arabia and has future projects in Jordan.
Reports of sale false and misleading, says Bhilai Steel Plant amid Congress alleging Adani visit
Bhilai Steel Plant, a unit of SAIL, has dismissed privatization rumors as false and misleading. The Ministry of Steel and PIB Fact Check confirmed that these reports are untrue. Allegations were made by Congress leader Bhupesh Baghel regarding a potential Adani Group visit to the plant. Concerns among employees and local residents over job security and plant future were raised.
JSW Steel gets relief as Odisha HC quashes Rs 696 crore demand; sets aside Rs 1,473 crore notice
The Odisha High Court has quashed a Rs 696.32 crore demand against JSW Steel over mineral dispatch shortfalls at its Jajang iron ore block in FY21. It also set aside a separate Rs 1,472.69 crore demand for FY25, directing authorities to reconsider the matter in line with an earlier judgment.
Agitators shut all gates of Bokaro Steel Plant; production impacted
Trained apprentices at Bokaro Steel Plant have blocked all 11 factory gates as part of their protest. This ongoing agitation, which entered its eighth day, includes an indefinite hunger strike. Protesters, mainly from displaced families, demand regularisation of their jobs and a clear recruitment policy. BSL management claims 204 of the 950 apprentices are already engaged as contractual workers.
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India's steel industry growing while global output falls: FM Nirmala Sitharaman
Sitharaman said India raised crude steel output by 10% in 2025 to 165 million tonnes and by 6% in January-August 2026, even as world output declined. India's share of world steel production has risen to about 9% from 5.2% in 2014, she added.
India fastest-growing major steel market; demand to grow 7.9% in 2026: World Steel Association
India's steel demand is projected to grow by 7.9 percent in 2026 and by 8 percent in 2027. This growth is driven by infrastructure projects, manufacturing expansion, and strong real estate demand. Conversely, steel demand in China is expected to experience a decline of 2 percent in 2026, followed by a lesser contraction in 2027.
New draft steel policy targets 604 million tonnes capacity by 2047
India has unveiled a new draft national steel policy targeting 604 million tonnes capacity by 2047. The initiative also aims to increase exports to 45 million tonnes in two decades. Measures will focus on reducing carbon emissions and promoting technology indigenisation in steel production. Infrastructure development will be emphasized alongside research, safety, and workforce improvements.
India targets 604 MT steel capacity by 2047, plans to cut carbon intensity: Report
India's government has introduced a draft steel policy for public consultation, targeting a steel capacity of 604 million tons by 2047. The policy aims to reduce the carbon-emission intensity for crude steel production from 2.54 tons to 1.54 tons. It also plans to secure access to high-grade iron ore reserves through joint ventures and foreign assets. Coking coal demand is expected to reach 236 million tons, necessitating diversifying sourcing strategies.
India steel ministry unlikely to seek new curbs on cheap imports, government source says
India's steel ministry has decided against new measures to restrict cheap steel imports for now. The country is dealing with increased imports, primarily from China, which have surged significantly. Domestic steelmakers are facing challenges despite existing safeguard duties and high steel prices. Demand has been rising in the automobile and infrastructure sectors after the monsoon season. Yet, the rising imports remain a considerable risk to the margins of steel producers.
Backward integration, captive power seen aiding profitability of secondary steel players
Secondary steelmakers in India are improving profitability by investing in captive power and backward integration, helping offset volatile raw material and energy costs, according to CRISIL. Operating margins are expected to rise to 6.6% this fiscal, with integrated players earning Rs 1,500-2,000 more EBITDA per tonne than non-integrated peers.
