India steelmakers likely to post March quarter profit surge
Business
India's steelmakers are on track for a significant profit surge in the March quarter, thanks to a new safeguard duty from December 2025 and strong seasonal demand.
Higher prices and more production are helping companies like SAIL and Tata Steel make up for pricier raw materials, even though Tata's UK branch might hold back some gains.
Hot-rolled coil up 12% to 15%
Hot-rolled coil prices jumped 12% to 15% this quarter, helped by the 12% safeguard duty.
Even with coking coal and iron ore getting costlier, profits per ton are expected to rise by ₹2,000 to 3,000 due to a 7% bump in output.
India also ramped up its steel exports by 40%, while imports dropped by 25%, making local manufacturers even stronger on the global stage.