STEELMAKING
Govt tightens duty exemption rules for metallurgical coke imports
The government has tightened conditions for importers seeking exemptions from anti-dumping duty on low ash metallurgical coke, a key input for steelmaking and ferroalloy production. The finance ministry has made compliance with a prescribed customs procedure mandatory for eligible importers.
Tata Steel's UK operations seen recovering from March quarter
Tata Steel expects its UK operations to move towards profitability in the March quarter as excess imported steel inventories ease, while its Netherlands business is projected to improve in the second half. CEO T V Narendran said strong infrastructure spending and automobile demand continue to support India's steel business, with domestic performance expected to improve in H2.
South Korean shares rise as tech stocks rebound on Wall Street
South Korean shares edge higher 0.36%, supported by gains in technology stocks following Wall Street’s rebound. Samsung Electronics and SK Hynix advance as foreign investors buy equities. Despite uncertainty surrounding Nvidia CEO Jensen Huang, the won strengthens against the dollar, while government bond yields decline amid mixed broader market sentiment.
NCDEX launches India's first steel scrap futures contract to help industry hedge price risks
NCDEX has launched India's first PRA-based steel scrap futures contract, offering steelmakers and traders an organised hedging mechanism. Based on HMS 80:20, the cash-settled contract aims to improve price transparency and benchmark discovery.
PHD Chamber seeks capital gains tax rationalisation, doing away with BCD on feedstock
The PHD Chamber of Commerce and Industry has urged the government to abolish long-term capital gains tax on equity investments, cut short-term capital gains tax to 10% and reduce securities transaction tax (STT) rates in its pre-Budget recommendations for FY28.
Jindal, Italy's Arvedi bid for former Ilva steelworks
Jindal and Italy's Arvedi Group have submitted binding bids for the troubled Ilva steelworks. The site is currently overseen by government-appointed commissioners due to long-standing financial issues. Prime Minister Giorgia Meloni's government aims to secure the site's steel production and protect jobs. Complications have arisen after a court ruling mandated the shutdown of blast furnaces due to health concerns.
South Korean shares rebound as chipmakers recover from AI-driven selloff
South Korean shares rebounded on Monday as benchmark index KOSPI rose over 1.5%. Chip giants Samsung Electronics and SK Hynix led the recovery following Wall Street gains and government assurances over Nvidia GPU supply continuity, despite remaining net selling pressure from foreign investors.
NCDEX partners with BigMint to enhance price transparency in steel scrap market
NCDEX has signed a strategic collaboration with BigMint to create a benchmark for steel scrap pricing. This partnership aims to improve price transparency and reliability for the steel industry in India. BigMint will provide daily spot price assessments, which will be used for settlement of new steel scrap derivatives contracts. The contract is expected to help participants manage price risks more effectively.
US tariffs squeeze Canadian cabinet makers facing doubling of Trump duty
As US tariffs on Canadian kitchen cabinets are set to double to 50%, the industry faces significant challenges. Companies like Cabico are considering relocating production to the US to mitigate costs. Many cabinet manufacturers have experienced reduced shipment volumes and workforce cuts due to tariffs. The Canadian government has proposed a provisional 25% surtax, but manufacturers want stronger measures.
European shares rise as miners rally, tech stocks lag
European shares opened higher, led by mining stocks, as strong earnings from ArcelorMittal and easing oil prices supported sentiment. Technology stocks declined amid concerns over US policy scrutiny of AI infrastructure, while Rheinmetall plunged after cutting its sales forecast.
South Korean shares slide nearly 3% as tech selloff deepens; won strengthens
South Korean shares fell sharply as a global technology selloff dragged chipmakers and other heavyweight stocks lower. A stronger won and plunging oil prices offered little support as foreign investors continued to sell equities.
In Burgos, Spain, engineers turned steelmaking waste into full-size pavement slabs; five years outdoors caused no major damage, and skid resistance stayed road-safe
In an innovative endeavor, engineers from Burgos, Spain, developed sustainable pavement utilizing waste from steel production, significantly cutting down on industrial refuse. Their five-year study, monitoring large-scale pavement slabs in real environments, revealed that the pavement exhibited no major structural issues or safety risks related to skid resistance. This breakthrough paves the way for eco-friendly infrastructure methods in construction, promoting the recyclability of industrial byproducts.
Global Market: South Korean shares fall 2% as Samsung Electronics slides after earnings
South Korea’s KOSPI fell 2.18% on Thursday as Samsung Electronics dropped 4.13% after disappointing third-quarter profits. Losses extended across battery, automotive and steel stocks, despite foreign investor buying. Authorities pledged to monitor volatility. Meanwhile, the won strengthened 0.72%, and government bond yields declined amid market uncertainty and cautious investor sentiment.
India’s steel future depends on breaking its costly coal habit
India plans to significantly increase its steelmaking capacity to support its development goals by 2047. The National Steel Policy proposes a shift from coal dependence to green hydrogen for production processes. This transition aims to reduce the vulnerability of steelmakers to volatile coking coal prices and enhance cost predictability. Moreover, the government is expected to promote long-term contracts for green steel to secure investments.
Global Market: South Korean shares jump over 4% as AI chip rally lifts Samsung, SK Hynix
South Korean shares surged 4.39% as AI investment optimism, strong semiconductor demand and better-than-expected third-quarter economic growth boosted investor sentiment. Samsung Electronics and SK Hynix led gains, while foreign investors purchased shares worth 597.3 billion won. The Korean won strengthened slightly, reflecting positive market momentum and improving confidence in technology-driven growth prospects.
Don’t ship air: Why metal swarf Is crushed and briquetted
Metal swarf is often viewed as mere waste, yet it holds potential for efficient recycling into briquettes for steel production. Based in Orenburg, SteelCom specializes in converting swarf through advanced crushing and pressing technologies. This process not only streamlines metal recycling but also minimizes handling expenses and conserves vital resources. Their adaptable technology caters to businesses of all sizes, showcasing their expertise and reliability in addressing recycling challenges.
Global Market: South Korean shares fall over 1% as AI trade concerns weigh; won strengthens
South Korean shares fell as AI-related concerns weighed on sentiment ahead of major US technology earnings. The won strengthened against the dollar, while government bond yields declined.
India has navigated impact on costs and supply chains well: JSW Steel CEO Jayant Acharya
JSW Steel is investing heavily in growth, expecting India's steel demand to remain strong through upcoming years. Geopolitical uncertainties are being managed, and India's growth outlook has been positively adjusted by the IMF. The company reported a drawdown in inventory, indicating solid demand. JSW Steel has achieved a strong financial position through internal accruals and debt reduction. They are committed to expanding production capacity and focusing on high-value products.
Diversification plan: NMDC scouts for mining assets across four continents
NMDC is actively seeking mining assets worldwide, including critical minerals to support various industries. The company aims to earn 20 percent of revenues from minerals other than iron ore. This expansion aligns with government initiatives to secure raw material supplies and decrease import dependency. NMDC's strategy is expected to enhance its role in India's manufacturing sectors. Industries such as automotive, renewable energy, and electronics will benefit from these efforts.
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