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ISTA blasts 'ludicrous' Tata Steel UK assertion to TRA
ISTA blasts 'ludicrous' Tata Steel UK assertion to TRA
London, 13 May (Argus) — Tata Steel UK's claim to the Trade Remedies Authority (TRA) that 2m-wide hot-rolled coil (HRC) could be bought for slitting is "ludicrous", according to the International Steel Trade Association (ISTA). In a submission to the TRA as part of its safeguard review, Tata said that if 2m-wide material, which it does not produce, is removed from the safeguard, it would be bought and slit, meaning it is no different from the material produced by Tata . But ISTA said 2m-wide HRC is a "significant part" of the yellow goods market and is used by companies such as JCB, Caterpillar and Liebherr for earth-moving, construction and agricultural equipment. It is also used in pipe and tube production and does not constitute a small proportion of the overall market, as suggested by Tata, ISTA said. The material must be imported as it is not manufactured in the UK and carries a premium over speed-stock widths produced by Tata. "For Tata Steel, who import volumes of this width themselves, to suggest that wider coil is ‘often imported only to be slit to narrower cuts' is ludicrous," ISTA said, arguing that there are "almost no" slitting lines in the UK that are capable of slitting 2m-wide material. The lines that do exist typically slit hot-dip galvanised (HDG) rather than HRC, Argus understands. Importers have also questioned the economic rationale of Tata's assertion that if higher-yield HDG is removed from the safeguard, importers would buy it and use it to compete with more commoditised grades produced by Tata. Higher-yield material carries a premium, and it would make no economic sense to pay it and then compete in the commodity market, trading firms told Argus . The TRA, which is expected to announce its provisional findings this week, is widely anticipated to propose caps on the quota for other countries' HDG. Importers told Argus that they were surprised by the aggressive tone of Tata's rebuttal to claims fielded by importers about material that it does not produce being excluded from the safeguard. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India’s Vedanta expands metals exploration
India’s Vedanta expands metals exploration
Mumbai, 13 May (Argus) — Indian private-sector mining firm Vedanta is exploring critical mineral assets in six states as it looks to strengthen its position in the fast-growing clean energy value chain. Vedanta is exploring for copper, nickel, cobalt, chromium, vanadium, tungsten and platinum-group elements (PGEs) in states such as Maharashtra, Rajasthan, Bihar, Arunachal Pradesh, Karnataka, and Chhattisgarh supported by India's policy push for mineral security , it said on 10 May. Vedanta secured four mineral blocks in the fourth round of India's critical mineral auctions. It won a vanadium and graphite block in Arunachal Pradesh and a cobalt, manganese, and iron (polymetallic) block in Karnataka. Its subsidiary Hindustan Zinc (HZL) was awarded one tungsten block in Andhra Pradesh and another in Tamil Nadu. The company is expanding its value-added aluminium products capacity in billets, primary foundry alloys, rolled products and wire rods. Aluminium billets are used in the aerospace, defence and solar power sectors, while aluminium rolled products are used in high-speed railways, electric vehicles, pharmaceuticals and battery enclosures. HZL is exploring uses for zinc beyond galvanizing steel to protect it from rust, which currently accounts for over 60pc of global zinc demand. It has entered the zinc alloy sector with a 30,000t plant and plans to significantly increase the share of value-added products in its aluminium portfolio to over 90pc in the near term. Vedanta's board earlier this year approved an investment of about $1.5bn to expand its aluminium capacity, including an expansion at its smelter in Orisha to increase production, as well as increased value-added product capacity at its flagship aluminium plants. By Deepika Singh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US tariff to curb Japan’s crude steel output in FY25
US tariff to curb Japan’s crude steel output in FY25
Tokyo, 13 May (Argus) — Japan's major steel producers will likely cut their crude steel output in the current fiscal year ending in March 2026, partly because the US' blanket 25pc tariff on automobile imports will curb domestic car productions. The country's largest and second-largest steel mill by capacity Nippon Steel and JFE Steel estimates crude steel output at 33mn t and 21mn t respectively in April 2025-March 2026, both down on the year by around 1mn t. This comes as the US' tariffs on automobile imports is likely to cap domestic car production, according to the firms. The US levy could potentially reduce several hundred thousand tonnes of its steel products sales given that 20pc of the Japanese domestic car production is exported to the US, said JFE. Nippon Steel also forecasts lower steel demand because of a possible fall in auto and machinery exports to the US, although it is difficult for the company to evaluate the quantitative impact on the wider supply chain. Nippon Steel estimates Japan's total car exports to the US, including delivery via Canada and Mexico, is currently around 2.8mn units/yr, all of which could be subject to the US tariffs. Nippon Steel is cautious about providing its output projections given the unstable climate over the ongoing trade negotiations between Tokyo and Washington. Forecasting crude steel output for the current fiscal year is difficult given uncertainty over the possible impact of US tariff measures, Nippon Steel told Argus . JFE also said "further risk analysis is necessary", suggesting a possible revision of its production outlook. Meanwhile, Nippon Steel expects no significant impact from the US tariffs on its direct steel products delivered to the country for the time being. The impact of the tariffs will be limited given the firm's value-added products such as high-alloy seamless pipe are exported in small volumes and difficult to replace with other products, the company said. Some of its US clients designate Nippon Steel as the supplier of these products because US local manufactures are unable to produce them, the company added. Nippon Steel did not provide their export volumes. Domestic steel demand Domestic steel demand is also unlikely to recover in the short term regardless of the US tariff. The country's domestic crude steel output has been consistently falling over the past several years, but the recent downtrend appears to be especially worrying for the Japanese steel producers. The current slump in domestic steel demand is more severe than expected, Nippon Steel said, forecasting the continuous downtrend in steel demand for most of the steel consuming sectors including auto, construction and manufacturing industries. Sluggish demand has even led JFE to decide to completely close one of its steel production facilities. JFE announced on 8 May that it will shut down its No. 4 basic oxygen furnace (BOF) steel plant in western Japan's Fukuyama sometime in April 2027-March 2028, as part of the mid-term strategy. This will reduce the company's domestic steel production capacity to 21mn t/yr, down by 500t from the 2024-25 level, the company added. JFE decided to close the BOF plant because domestic steel demand is likely to continue falling on the back of shrinking populations and labour shortages, according to the firm. These are causing delays in construction projects and therefore weighing on steel demand, the firm added. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
India proposes retaliatory taxes to US' steel tariffs
India proposes retaliatory taxes to US' steel tariffs
Mumbai, 13 May (Argus) — India is seeking to impose higher duties on certain products imported from the US in retaliation to US tariffs on steel and aluminium imports. The extension of Section 232 tariffs on steel and aluminium imports by the US would impact $7.6bn of Indian imports into the US, India said in a notification to the World Trade Organization (WTO) dated 9 May and circulated on 12 May. The duty collection on the products would amount to $1.91bn and India's retaliatory measures would result in an equivalent amount collected from imports of US products into India, according to the WTO notification. India said that the "safeguard" measures by the US are not in line with the General Agreement on Tariffs and Trade (GATT) 1994 and the agreement on safeguards. India in April had requested consultation with the US on the reimposition of tariffs. As the consultations did not take place, India has the right to "suspend concessions or other obligations," which could result in higher duties on imports of certain goods from the US, the notification said. The document did not mention the specific products on which retaliatory duties have been proposed. Indian steel exports to the US are now subject to 25pc safeguard tariffs coupled with anti-dumping and countervailing duties, making it difficult for Indian suppliers to compete in the US market. Indian products exported to the US are also subject to a 10pc baseline tariff imposed by US president Donald Trump on 5 April. India is currently in the process of negotiating a bilateral trade agreement with the US. Indian representatives met US officials in Washington in late April, following bilateral discussions held in New Delhi in March. By Amruta Khandekar Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
