Steel

ACME Group has unveiled plans to invest Rs. 5,000 crore in a new Direct Reduced Iron (DRI) facility, signaling a major expansion in its industrial and steel manufacturing portfolio. The investment aims to bolster domestic steel production, enhance operational efficiency, and meet rising demand from infrastructure, automotive, and construction sectors. The project will incorporate advanced technologies to reduce carbon emissions and improve energy efficiency, reflecting the company’s commitment to sustainable industrial growth.

India’s core sector output expanded by just 1.7% year-on-year in June, marking a significant deceleration from the 6.3% growth recorded in May. The slowdown was primarily driven by subdued performance in key industries such as crude oil, natural gas, cement, and electricity. These eight core industries collectively account for over 40% of the Index of Industrial Production (IIP) and serve as vital indicators of the country’s economic momentum.

Six Indian companies, notably HDB Financial Services and Vikram Solar, have secured regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs). The approvals, granted between May 27 and 30, 2025, mark a significant step for these firms to raise capital through public markets. HDB Financial Services plans to raise Rs 12,500 crore via a combination of fresh equity and promoter share sales, while Vikram Solar aims to generate Rs 1,500 crore through fresh issuance alongside an offer-for-sale component.

India’s steel sector receives a boost as the government imposes a 12% safeguard duty on key steel products for 200 days, offering much-needed relief to domestic producers facing stiff competition from low-cost imports. This strategic move aims to protect local manufacturers from the influx of cheap steel from surplus countries, including China, South Korea, and Japan. While this duty provides short-term relief, experts caution that the full normalization of price dynamics may take longer due to factors like increased domestic supply and global price fluctuations.

ArcelorMittal Nippon Steel (AMNS) India, one of the largest players in the domestic steel industry, has raised concerns over the US administration’s decision to impose 25% tariffs on India’s steel and aluminium exports. The company warns that the move could disrupt global trade flows and lead to a surge in steel imports into India, threatening the profitability of domestic manufacturers. Additionally, the Indian government is considering imposing a safeguard duty to mitigate the effects of higher imports.

The District Investment Summit held in Maharashtra’s Chandrapur has set a new benchmark, with Memorandums of Understanding (MoUs) worth a staggering Rs 17,432 crore being signed, exceeding the district's original target by over 20%. This investment, primarily in the steel and energy sectors, promises to create thousands of jobs and bolster Maharashtra’s economic growth. The summit saw key partnerships, including substantial investments from Greta Energy and Goa Sponge and Power, reflecting the region's potential as a powerhouse for mineral-based industries.

In a rare Saturday sitting, both Houses of the UK Parliament were recalled to discuss emergency legislation aimed at nationalizing British Steel. This legislative action, spearheaded by Prime Minister Keir Starmer, seeks to prevent the closure of blast furnaces at the company’s Scunthorpe plant, owned by the Chinese firm Jingye. With the future of British Steel at risk, the government plans to utilize taxpayer funds to secure the plant’s operations and negotiate a transfer of ownership.

Bansal Wire Industries Ltd (BWIL), a leading stainless steel wire manufacturer, has significantly boosted its production capacity with a major investment of Rs 550-600 crore. The company has expanded its facility in Uttar Pradesh to a total of 6 lakh metric tonnes per annum (MTPA), more than doubling its previous capacity. This expansion is aimed at meeting growing demand across high-growth sectors such as automotive, agriculture, power, and construction.

Steel Strips Wheels Ltd has announced the receipt of a USD 5 million order (approximately Rs 40 crore) for steel wheels from an undisclosed global automobile manufacturer. The order spans over a five-year period, with production set to begin in FY 2026 at the company's Chennai plant. This new business deal strengthens the company's position in the international market and underscores its expanding presence in the automotive sector.