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 Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..