Topic: Indian steel market

The decision comes after an influx of cheap Chinese steel has forced India's smaller mills to scale down operations and consider job cuts.

There are 3 perfectly timed triggers for this week's column: old, povertarian instincts are back; steel industry lobbying for more import duties; absence of reformers like AD Shroff.

The decision by the finance ministry aims to protect steel-consuming firms from higher prices even though it could hurt local steel manufacturers, the govt source said.The decision by the finance ministry aims to protect steel-consuming firms from higher prices even though it could hurt local steel manufacturers, the govt source said.

India shipped 6.7 million tonnes of finished steel in FY23, a decline of 50.2% on the year and the lowest since 2018/19.