Tata Steel To JSPL’s Take On If China Will Spoil India’s Steel Exports Party
China’s steel cutbacks fired up Indian exports and allowed local producers of the alloy to gain from higher international prices. Now, that may be at risk. The world’s largest steel producer and exporter is easing the deadline to achieve green targets for steel to 2030, and potentially resuming curtailed production. As Chinese shipments rise, Indian steelmakers may lose share in exports. And higher demand for raw materials from China could increase input prices, squeezing margins. Bundles of steel reinforcing bar at a metal stock yard in Shanghai. In early February, Beijing extended the deadline for the steel industry to hit peak emissions by five years. That relaxed its earlier policy of winter production cuts announced in September 2021 in Beijing and Tianjin as well as in provinces of Hebei, Shanxi, Shandong, and Henan till March 15, 2022. It required mills to restrict steel output by at least 30%. China’s move to curtail output and encourage imports of semi-finished steel was prope...