Steelmakers Push for Lower Input Costs to Be Competitive

Top industry executives emphasized the need for govt intervention to ease raw material pressures

- Dipali Banka

India's leading steel producers are pushing for lower input costs to stay competitive globally, with a sharp focus on reforming iron ore supply and pricing mechanisms. Speaking at the ISA (Indian Steel Association) Steel Conclave 2025, top executives from Tata Steel, Steel Authority of India Ltd (SAIL), JSW Steel, Jindal Steel and Power, and AM/NS India emphasized the need for government intervention to ease raw material pressures.

For steelmakers, the primary input costs come from purchasing raw materials such as iron ore and coking coal.

"If enough (iron ore) mines are brought out, there's a calendar for auctions. Then, automatically, it will put the steelmakers at ease," said ISA president and Jindal Steel chairman Naveen Jindal on Monday, adding that it will reassure them that there is enough for everyone.

Since the mines are auctioned one by one, Jindal said steelmakers who have set up steel plants are compelled to bid higher premiums to ensure raw material security.