Steel Sector Faces ?89,000 Crore Challenge

30 Oct 2024 CW Team

Industry leaders are concerned that the current market dynamics, driven by a demand-supply gap, are causing considerable financial strain on steel companies. The increasing volume of imports, especially from countries with lower production costs, is eroding the market share of domestic producers, making it difficult for them to compete effectively.

The situation is further complicated by price volatility, which affects production costs and the overall economic viability of steel operations. Companies are seeking intervention from the government to implement safeguard measures that would help protect the domestic industry from unfair competition and ensure a level playing field.

Analysts indicate that without prompt action, including potential tariffs or import restrictions, the steel sector may face severe consequences, including production cuts and layoffs, as companies struggle to clear their stock and maintain operational continuity.

The manufacturing sector relies heavily on steel, making this issue critical not only for steel producers but also for broader industrial growth. The government’s role in facilitating fair trade practices and supporting local businesses will be vital in addressing these challenges and ensuring the sustainability of the steel industry.

In conclusion, the steel companies are at a crossroads, with significant implications for the economy. Addressing the challenges posed by rising imports will require coordinated efforts between the industry and the government to foster a more resilient and competitive domestic steel sector.

The Indian steel industry is currently grappling with a significant challenge, with companies facing ?89,000 crore worth of unsold stock due to rising imports. This situation has escalated as increased foreign steel supplies, coupled with fluctuating domestic demand, have intensified market competition. The influx of cheaper imports is impacting local producers' ability to maintain price stability and profitability. Industry leaders are concerned that the current market dynamics, driven by a demand-supply gap, are causing considerable financial strain on steel companies. The increasing volume of imports, especially from countries with lower production costs, is eroding the market share of domestic producers, making it difficult for them to compete effectively. The situation is further complicated by price volatility, which affects production costs and the overall economic viability of steel operations. Companies are seeking intervention from the government to implement safeguard measures that would help protect the domestic industry from unfair competition and ensure a level playing field. Analysts indicate that without prompt action, including potential tariffs or import restrictions, the steel sector may face severe consequences, including production cuts and layoffs, as companies struggle to clear their stock and maintain operational continuity. The manufacturing sector relies heavily on steel, making this issue critical not only for steel producers but also for broader industrial growth. The government’s role in facilitating fair trade practices and supporting local businesses will be vital in addressing these challenges and ensuring the sustainability of the steel industry. In conclusion, the steel companies are at a crossroads, with significant implications for the economy. Addressing the challenges posed by rising imports will require coordinated efforts between the industry and the government to foster a more resilient and competitive domestic steel sector.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..