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Keep up to date with Industry News and Commodity Prices.

Fitch: Indian steel prices to remain under pressure, steel mills have little headroom for ratings upgrade
Indian steel prices will face pressure in next fiscal year, 2025-26, as local mills grapple with imports from China and rising risks of aggressive tariff policies, Fitch Ratings said in a report on Thursday, March 20. As a result, the rating agency has reduced headroom for ratings upgrades for India’s leading steel companies in terms of market capitalisation.

Valin Lianyuan Steel put cold rolled high-end home appliance steel sheet project into operation
The cold rolled high-end home appliance steel sheet project of Hunan Province-based Chinese steelmaker Valin Lianyuan Steel was put into operation on March 18. The overall investment in the project amounted to RMB 890 million, with an annual capacity of 450,000 mt of hot dip galvanized products, including deep-drawing and ultra-deep-drawing steels for panels used in medium-grade and high-grade home appliances and high-strength structural steels.

Indian steel industry to push for higher safeguard duty of 18-25 percent
India's domestic steel industry plans to seek a higher safeguard duty on steel imports than the 12 percent recommended by the Directorate General for Trade Remedies (DGTR). The industry is holding internal consultations on the temporary tax of 12 percent for 200 days on alloy and non-alloy flat steel products. A final petition to the ministry of commerce may be submitted through the Indian Steel Association (ISA). The steel industry believes the current rate of 12 percent is insufficient to check the inflow of ex-China material.
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