STEEL IMPORTS FROM CHINA
China's export growth slows in August as US tariffs and trade tensions bite
China's export growth slowed to 4.4% in August, a decrease from July's 7.2% increase, while imports rose by 1.8%. Trade tensions with the U.S. continue, with exports to the U.S. plummeting 33%. Despite this, exports to the EU saw a 10.4% increase, and rare earth exports experienced a monthly rise, highlighting the complex dynamics of China's trade landscape.
What will happen if the US Supreme Court blocks Trump's tariffs - all scenarios explained
Trump tariffs Supreme Court: Donald Trump seeks Supreme Court intervention on his authority to impose tariffs. An appeals court rejected his use of the IEEPA law for this purpose. Trump's team anticipates a favorable Supreme Court ruling. Alternative legal avenues exist for tariffs if the court rules against him. These include Section 232, Section 301, Section 201, Section 338 and Section 122.
China's exports to Africa are soaring as trade to U.S. plunges
China's trade surplus with Africa is surging in 2025, fueled by increased exports of Chinese goods like solar panels and electric vehicles, reaching $60 billion. This shift is partly due to U.S. tariffs impacting trade flows and China's focus on expanding markets. While benefiting from affordable Chinese products, African leaders worry about the potential impact on developing their own industries.
12% safeguard duty on steel products sufficient, will seek more if import create challenges: Naveen Jindal
Naveen Jindal states that the proposed 12 percent safeguard duty on specific steel imports is adequate. He mentions the industry might seek government intervention if future import challenges arise. Jindal highlights the impact of US tariffs on global steel prices. He anticipates domestic steel demand to grow in double digits in fiscal year 2026.
Market Wrap: Auto, metal stocks lift Sensex up 76 points, Nifty above 24,770 on GST relief, Fed rate cut bets
Indian benchmark indices Sensex and Nifty closed in the green on Monday, lifted by auto and metal shares, as optimism over sweeping GST tax cuts and China’s steel reforms supported sentiment alongside expectations of a Federal Reserve rate cut this month.
India’s state-owned refiners seek to fully revive Russian crude buys despite US pressure
Despite US pressure, Indian state-owned oil refiners aim to revive discounted Russian crude purchases. However, a lack of available cargoes due to redirection to China and increased competition from other nations is hindering these plans. While India intends to continue buying Russian oil, imports have already decreased, and further declines are expected as China increases its intake.
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Tata Steel shares jump 3% to hit fresh 52-week high on strong sector tailwinds, brokerage optimism
Tata Steel shares surged to their 52-week high on Monday, banking on strong sector tailwinds, including India’s extended safeguard duty, China’s production curbs, and positive brokerage views. Morgan Stanley upgraded the stock to Overweight with a Rs 200 target, citing favourable demand and pricing trends.
China's August exports growth slowest in 6 months, missing forecasts
China's export growth faced a slowdown in August. It missed the expected targets. This was the slowest pace since February. Imports also remained below forecast. Weakened shipments to the United States impacted the growth. Experts suggest further fiscal stimulus in the fourth quarter. The trade surplus was recorded at $102.3 billion. Analysts are closely monitoring potential additional fiscal support.
Coal import declines in July over sluggish demand, availability of high stock
India's coal imports saw a decline of 16.4 percent in July, reaching 21.08 million tonnes. This decrease is attributed to reduced demand during the monsoon season and ample stock availability. Imports during April-July also dipped. Non-coking coal imports decreased, while coking coal imports increased during the same period. The government assures sufficient coal supply across sectors.
Potus undoes some knots in ties; PM Modi responds in kind
Despite recent trade tensions, Prime Minister Modi and President Trump express mutual appreciation for the India-US partnership. Trump acknowledges their "special relationship," even while expressing disappointment over India's oil imports from Russia and imposing tariffs. Modi reciprocates Trump's positive assessment, emphasizing the forward-looking nature of their strategic alliance, signaling a potential thaw in relations.
Earnings recovery to drive market momentum: Mayuresh Joshi
Indian equity markets saw a 1% gain but stayed below 25,000, prompting analysis of underlying trends. GST rationalization is expected to boost volumes and margins from Q3, benefiting India Inc. Metals led sectoral gains, supported by potential US rate cuts and improved India-China ties. Despite positive indicators, markets remain cautious, awaiting earnings reset and resolution on US tariffs.
When the Dragon meets the Elephant: Building a win-win framework for both India and China
Following a five-year hiatus, Prime Minister Modi and President Xi Jinping met to recalibrate relations, emphasising stronger people-to-people ties and expanded trade. Addressing India's trade deficit is crucial, with potential for Chinese investment in Indian manufacturing. Collaboration in public health, tourism, education and infrastructure offers mutual benefits, requiring a clear road map for sustainable partnership.
Metals, hospitality in focus as GST cuts reshape market themes, cautious on NBFCs: Ashish Chaturmohta
The recent GST rate cuts have sparked a rally across consumption-linked sectors, with NBFCs, metals, hospitality and cement stocks emerging as key talking points for investors.
China slaps preliminary anti-dumping duties on some EU pork imports
China has imposed preliminary anti-dumping duties, reaching up to 62.4%, on specific pork imports originating from the European Union, effective September 10th. This decision follows a preliminary investigation that indicated dumping practices detrimental to China's domestic pork industry.
India powers Russia-China mix as Xi unites leaders weary of Trump’s push
Xi Jinping's recent interactions with Putin and Modi signal a potential shift in global economics, particularly in energy. Russia's agreement with China on the Power of Siberia 2 pipeline and India's continued oil purchases from Russia highlight a growing cooperation that could challenge U.S. influence. This developing alliance raises concerns about a formidable counterweight to the U.S.
Trump says US would be on 'brink of economic catastrophe' unless justices rule his tariffs are legal
Donald Trump's administration urgently appealed to the Supreme Court to uphold his tariffs, claiming their removal would devastate the U.S. economy. Solicitor General D. John Sauer requested an expedited decision, emphasizing the tariffs' role in promoting peace and economic prosperity, and combating issues like fentanyl and the Russia-Ukraine conflict.
Aluminium extrusion industry body seeks review of import duties, FTAs to offset US tariff impact
ALEMAI urges the government to address import duties, FTAs, and policies to boost domestic aluminium consumption and counter US tariffs. India's aluminium extrusion industry faces underutilization due to imports, despite its 3 million tonnes capacity. Increased local consumption and production can enhance global competitiveness and offset tariff impacts, fostering growth in sectors like construction and renewable energy.
Tata Steel shares slip as investors book profit after 6% rally
Tata Steel shares experienced a slight dip of 0.50% to Rs 167 on Thursday, following a strong 6% surge. This pullback occurs amidst ongoing optimism in the metal sector, fueled by anticipated firmer global steel prices due to China's planned production cuts and India's tariff protections.
Trump administration asks Supreme Court to quickly take up tariffs case after appeals court loss
The Trump administration has approached the Supreme Court regarding tariff powers. They are seeking a quick ruling on the president's authority to impose trade penalties. This appeal follows a lower court ruling against the tariffs. Small businesses claim economic hardship due to these tariffs. The government warns that striking down tariffs could impact ongoing trade negotiations.
Metal stocks surge as CLSA predicts recovery amid China's steel capacity cuts
Metal stocks saw gains on Wednesday. CLSA suggests the sector's downturn might be ending. China's planned steel capacity reduction could boost Indian metal companies' profits. Tata Steel and Jindal Steel experienced significant surges. Analysts predict further upsides for metal stocks. The Nifty Metal Index outperformed the benchmark Nifty. Experts highlight potential for sustained rally with demand recovery.
Sensex rises 410 pts, Nifty50 tops 24,700 as banks, metal stocks advance
Indian markets closed higher on Wednesday, driven by banking and metal stocks, as investors anticipated GST Council updates regarding potential rate cuts. The Nifty rose by 0.55%, and the Sensex increased by 0.51%. Metal stocks surged, led by Tata Steel, while the IT index lagged due to concerns over U.S. manufacturing data.
Tata Steel and other metal stocks rally up to 6% on China capacity curbs, policy support
Metal stocks rallied on Wednesday with Tata Steel up 6%, as China’s production curbs and India’s tariff protection boosted sentiment. The Nifty Metal index rose 2.5%, led by Tata Steel, Jindal Steel, SAIL, and JSW Steel, with analysts seeing firmer steel prices ahead.
JSW Steel puts coking coal sourcing plans from Mongolia on hold amid logistics challenges
JSW Steel has paused its plan to import coking coal from Mongolia due to significant logistical challenges in transporting the material to India. The company found it not logistically feasible at the moment. India relies heavily on coking coal imports, primarily from Australia, and the government has been exploring alternative sources to diversify supply.
India's August palm oil imports surge 16% to 13-month high ahead of festive season
Higher imports of palm oil and soyoil lifted India's total edible oil imports in August by 3.6% to 1.6 million tons from a month earlier, the highest level in 13 months, according to dealers' estimates. The import figures exclude duty-free shipments that arrived via land borders from Nepal, they said.
S, C, O — PM Modi’s three-letter message at China summit that packs a punch
At the SCO Summit, Prime Minister Narendra Modi outlined India's regional strategy. It focuses on security, opportunity, and connectivity. Modi stressed the importance of combating terrorism and fostering trust in connectivity projects. He highlighted initiatives like Chabahar and INSTC. India aims to strengthen ties with Central Asia and Russia. Trade relations with China and Russia are also discussed.
Trump warns US would be "completely destroyed" without tariffs, blasts court ruling but praises lone Obama-appointed judge
A US appeals court ruled 7 to 4 that most of President Trump’s broad tariffs exceeded his authority under the International Emergency Economic Powers Act, though enforcement is stayed until 14 October to allow an appeal. Mr Trump defended the levies on Truth Social, saying “Without Tariffs… our Country would be completely destroyed,” and thanked an Obama-appointed judge who dissented. Sector specific tariffs under Section 232, including expanded steel and aluminium duties, were not affected and remain in force. Legal and commercial uncertainty continues.
Indian steelmakers urge government for minimum import price amid global slump
Indian steelmakers are requesting a minimum import price from the government as current safeguard duties prove insufficient amidst falling global prices. Industry executives report that hot rolled coils are trading significantly lower than expected, impacting profit margins. Analysts suggest a balanced approach, considering consumer prices and anticipating stable raw material costs and subdued global demand.
India–China trade grows, but Beijing has a benefit
India-China bilateral trade is growing, but a significant trade deficit favoring China persists, raising concerns about economic dependence. India's exports to China are declining, while reliance on Chinese imports across various sectors deepens. The government is implementing measures like production-linked incentives and stricter quality controls to reduce import dependence and protect domestic industries.
India can supply cars, milk products to Africa, procure gold, diamonds, agri goods in exchange: Piyush Goyal
Piyush Goyal proposed boosting India-Africa trade ties, offering to import products affected by third-country actions. He highlighted opportunities to double bilateral trade to $164 billion by 2030, focusing on critical minerals, agriculture, and technology. India aims to supply motor cars and milk products, while increasing imports of diamonds, gold, petroleum, and pulses from Africa.
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