Topic
steel
Commodities How Scrap Is at the Centre of India’s Changing Metals Growth Story
India's next metals growth cycle will be driven by recycling rather than mining, with scrap emerging as the industry's most strategic resource, according to a thematic report by Ashika Institutional Equities. The report highlights regulatory support, growing demand from electrification, and the shift from informal to organised recycling as key drivers.
Commodities Global Steel Output Rises 1.7% in June 2026 Driven by Strong Regional Gains
Global crude steel production increased 1.7% year-on-year to 155.7 million tonnes in June 2026, driven by gains in Asia, the EU, and North America, according to the World Steel Association. First-half output fell 0.7% to 931.5 mt. India led the top five producers with 7.1% growth in H1, while Vietnam surged 27.5% in June.
UK Government Brings British Steel Under Public Ownership, Secures Steelmaking Future
The UK government has nationalised British Steel, taking control of the Scunthorpe steelworks to secure domestic steelmaking. The move follows years of uncertainty and financial losses, with the plant losing £700,000 per day under Chinese owner Jingye Group. The government's intervention ensures continued production of virgin steel for critical infrastructure.
Commodities British Steel Nationalisation Bill Passed by Parliament, Securing Public Ownership of Scunthorpe Operations
Parliament has passed the Steel Industry (Nationalisation) Bill, paving the way for nationalisation of Scunthorpe-based British Steel. The King signed the bill into law on Wednesday. Energy minister Chris McDonald said the government acted decisively in the national interest. Shadow business secretary Andrew Griffith criticised the move, linking it to high energy costs. Owner Jingye has begun seeking compensation.
Commodities Global crude steel output slips marginally in May 2026, India maintains growth
Global crude steel output edged down 0.3% year-on-year in May 2026 to 157.9 million tonnes, according to World Steel Association data. India maintained its position as the second-largest producer with a 1.9% output gain, while China's production fell 2.7%. North America and Africa saw robust growth, but the Middle East recorded a sharp 19.4% decline.
Trade India-UK FTA clears steel hurdle; 85% of Indian exports shielded from British curbs
India has secured protection for **85%** of its steel exports to the UK under the India-UK Comprehensive Economic and Trade Agreement (CETA), with those shipments remaining outside Britain's upcoming steel safeguard measures. The agreement, effective from July 15, caps tariff-free imports and reduces overall quota volumes by **60%**, with a **50%** tariff on over-quota steel. The deal also addresses concerns over the UK's planned carbon border adjustment mechanism (CBAM) scheduled for **2027**.
Trade India Denies Textiles and Steel Overcapacity, Says USTR Probe Lacks Evidence
India has rejected U.S. allegations of structural overcapacity in its textiles and steel industries, telling the USTR that per capita consumption remains among the world's lowest. The Directorate General of Trade Remedies (DGTR) stated that overcapacity is not recognized under WTO trade remedy laws and accused the probe of targeting specific countries without evidence.
Trade UK Signals It May Block Compensation Payment to British Steel Owner Jingye
The UK government has indicated it could limit or refuse compensation to Jingye Group, the Chinese owner of British Steel, as the company seeks reparation under a bilateral investment treaty following the nationalisation of the Scunthorpe steelworks. The Department for Business and Trade stated any payout would be determined independently and only made 'if any, is payable'.
Trade India-UK FTA Stalled by Steel Tariffs, Scotch Duties May Adjust
The India-UK Comprehensive Economic and Trade Agreement (CETA) faces implementation delays due to the UK's new steel tariffs and carbon tax. India may adjust Scotch whisky duties to rebalance the agreement.
Trade India Becomes Net Importer of Finished Steel in April
In April, India imported 0.7 million metric tons of finished steel, marking a 30.8% increase from the previous year, while exports rose by 24.9% to 0.5 million tons. China, South Korea, Japan, Vietnam, and Russia were the primary exporters to India.