India's record steel imports raise concerns amidst global trends

18 Dec 2023 CW Team

According to a report by Elara Securities, India's steel imports in November reached an unprecedented high of 1.2 million tonnes, marking the highest level since data tracking began in CY06.

The year-to-date (YTD) volume for CY23 has surged to a six-year peak at 7.0 million tonnes. Notably, India has sustained its status as a net steel importer for the third consecutive month in November. The report underscores the persistent concern over the impact of increased imports on domestic steel prices.

Despite this, there is a positive trend in steel prices in China, which is expected to narrow the price differential between Indian and imported steel products.

The report highlights that the lack of significant relief from elevated raw material prices is likely to compel steelmakers to maintain steel prices in order to protect profitability.

Data from the World Steel Association (WSA) reveals a modest 1% year-on-year recovery in global crude steel production to 150 million tonnes in October. This growth was driven by a 3% year-on-year increase in production for the rest of the world (ROW), offsetting a 2% year-on-year decline reported in China. On a monthly basis, global production dipped slightly due to a 4% month-on-month fall in China, while ROW experienced a 4% month-on-month rise.

India has consistently demonstrated robust performance, achieving double-digit production growth for the fifth consecutive month. In October, India's crude steel production witnessed a 15% year-on-year increase and a 3% month-on-month rise.

However, according to provisional data, India's crude steel production registered a 13% year-on-year increase but declined by 3% month-on-month in November, according to the report.

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..