JSWSTEEL

March 10 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - REPORTS CONSOLIDATED CRUDE STEEL PRODUCTION OF 2.4 MILLION TONNES FOR FEBRUARY 2026

• JSW STEEL - USA OHIO OPERATIONS PRODUCTION LOWER DUE TO RAMP-UP AND WINTER STORM

• JSW STEEL - INDIAN OPERATIONS CRUDE STEEL PRODUCTION DOWN 1% YOY IN FEBRUARY 2026 DUE TO BF3 SHUTDOWN

Source text: ID:nBSE6Z05yM

Further company coverage: JSTL.NS

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By Aditya Kalra

NEW DELHI, March 9 (Reuters) - When India's largest oil explorer opened a tender for a cement order in 2018, it sensed something was off by the competing bids coming in: all of them were exactly 7,000 rupees per tonne.

Oil and Natural Gas Corporation ONGC.NS queried the bids and got a wry reply from an executive at India Cements. Seven was his "lucky number", he explained.

Suspicious, ONGC quietly lodged an antitrust case against three Indian cement companies.

The details of the case were outlined in a confidential investigation report and evidence that were shared with the companies in January and reviewed by Reuters, following a five-year probe that found a decade of price collusion targeting state-run ONGC.

The Competition Commission of India (CCI) report said the "cartel period" ran 12 years between 2007 and 2018 for Dalmia Cement (Bharat), a unit of India's fourth-largest cement maker Dalmia Bharat DALB.NS, and rival Shree Digvijay SRDC.NS. India Cements ICMN.NS was part of the cartel for 2017-18.

The report identified thinly concealed attempts at collusion by Indian companies, signalling a growing willingness by the regulator to scrutinise domestic firms after months of high-profile investigations into foreign giants.

The Indian cement firms' bid rigging, discussions of supply patterns and efforts to oust foreign bidders were "substantiated from strong evidences in form of communication, meetings, emails, admission," said the 90-page report.

Local media outlet Zee Business reported the basic finding of wrongdoing last year, but Reuters is the first to report the detailed tactics and evidence which underpin CCI's investigation findings.

Dalmia Bharat declined to comment citing pendency of the matter before the CCI, but has previously said it is cooperating with the authorities. India Cements, which was acquired by No. 1 player UltraTech ULTC.NS in 2024, did not respond, and neither did Shree Digvijay, ONGC or the CCI.

The cement companies have been asked to respond to the report and the watchdog will then issue a final order within months. It has powers to drop any of the investigation findings, but fines can go as high as three times the companies' profit or 10% of their turnover for each year of wrongdoing.

In fiscal year 2024-25, Dalmia Bharat recorded annual revenues of $1.5 billion, Shree Digvijay $79 million and India Cements $444 million.

'SUPPORTED BY THE NUMEROLOGY FACTOR OF 7'

While Apple, Amazon and other foreign firms have faced intense antitrust scrutiny, the cement case highlights CCI's focus on big Indian firms from key economic sectors.

"Tech cases have been a growing focus for CCI but there is increased cognizance within the government to tackle breaches at state-run firms and in public procurement," said Gautam Shahi, a competition law partner at Indian law firm Dua Associates.

In January, Reuters reported an antitrust investigation found four major Indian steelmakers, including Tata Steel and JSW Steel, colluded on prices.

Before filing the case in 2020, ONGC noticed bids had come in at the exact same or very similar pricing in four tenders for oil well cement.

For example, the 2018 tender for 170,000 tonnes of cement saw all three companies quoting a price of 7,000 rupees, or 7,350 rupees per tonne with taxes, for different states.

That prompted ONGC to issue a warning in late 2019, with a notice to India Cements, contained in the report, saying the identically priced bids suggested violation of competition law.

India Cements defended its bid in a written submission on its letterhead to ONGC that year, citing global trends as well as the "lucky number".

"The financial bid was also supported by the numerology factor of 7", the company letter stated.

SUBMITTING BIDS TOGETHER

The CCI's investigation puts the onus of breaches on eight top executives including former managing director of Shree Digvijay, Rajeev Nambiar; billionaire chairman of Dalmia Bharat, Y.H. Dalmia; and former managing director of India Cements, N. Srinivasan, who is also one of India's high-profile business figures. None of the executives responded to Reuters queries.

The CCI also cited Shree Digvijay senior vice president Prem R. Singh, whose testimony said "the prime objective for quoting the identical price was to allocate almost equal volumes and revenue amongst companies".

Singh visited rival Dalmia's office for "directly assisting" them in their tender filing in 2018, the CCI report said, citing messages sent by Singh to Nambiar, his then managing director. Singh did not respond to requests for comment.

Shree Digvijay and Dalmia were "actively involved" in calculating the rail freight distance of their factories from ONGC cement delivery destinations. They then bid accordingly to avoid competition and divided territories amongst themselves.

Excel sheets were also made comparing distances to decide "volume sharing" among rivals, the report showed.

TARGETING FOREIGN FIRMS

Shree Digvijay and Dalmia also targeted foreign firms who bid by flagging "prickly issues", said the report.

They repeatedly filed complaints with the Indian government about foreign bidders' lack of certification and how New Delhi should promote domestic firms over foreign ones.

Foreign bidders included Texas-based Schlumberger, the world's largest oilfield services provider now known as SLB SLB.N, UAE-based Classic Oil Field Chemicals, and Bell Weather, the report showed. The three companies did not respond to queries.

The investigators concluded that the companies tried at least once to pressure ONGC to cancel foreign bids by deciding to "restrict supply" of cement to the oil explorer, which breaches antitrust laws.

In 2019, one executive wrote to another: "Need your support in making them (ONGC) understand that they cannot throw Indian parties in bath tub."

The companies could "not digest the fact that a foreign bidder" can be awarded a tender, the CCI said.

(Reporting by Aditya Kalra; Editing by Sam Holmes)

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Feb 10 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - CONSOLIDATED CRUDE STEEL PRODUCTION OF 2.5 MILLION TONNES FOR JANUARY’26

Source text: ID:nnAZN4SFORP

Further company coverage: JSTL.NS

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Feb 6 (Reuters) - Tata Steel TISC.NS, India's second-largest maker of steel by market capitalisation, reported a bigger-than-expected third-quarter profit on Friday as higher sales volumes helped cushion the impact from weak steel prices.

Consolidated net profit jumped to 26.89 billion rupees ($296.66 million) in the quarter ended December 31, from 3.27 billion rupees a year earlier.

Analysts' on average had expected profit of 24.26 billion rupees, according to data compiled by LSEG.

Jefferies analysts had expected Indian steel companies to report stronger volume growth in the October–December period, driven by capacity expansions, while Systematix Institutional Equities said that higher volumes would help offset pricing pressures for Tata Steel.

Its domestic production volumes for the quarter increased by 11.4%, while delivery volumes grew 14% year-on-year, driven by capacity utilisation at its plants at Kalinganagar and Jamshedpur.

This lifted the Tata Group company's total revenue from operations by around 6% to 570.02 billion rupees.

Steel prices, however, stayed under pressure for most of the third quarter as supply outpaced demand, dragging down flat product prices, analysts at Elara Capital said.

Prices have rebounded since December, helped by the government's safeguard anti-dumping duty, which is expected to support the sector in the near term.

Last month, India imposed a three-year import tariff on select steel products to curb Chinese imports, replacing a 12% duty introduced in April for 200 days.

The longer duration is seen as offering greater certainty and protection for domestic producers, according to Sunny Agrawal, head of fundamental equity research at SBICAPS Securities.

Core profit, or earnings before interest, taxes, depreciation, and amortization (EBITDA) for Tata Steel's India operations grew nearly 5% to 82.91 billion rupees.

Rival steelmaker JSW Steel JSTL.NS in January beat third-quarter profit estimates on higher sales volumes.

($1 = 90.6430 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Sonia Cheema)

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** JSW Steel JSTL.NS shares up nearly 3% at 1,207 rupees

** Nifty Metal index .NIFTYMET up 2%

** Steel manufacturer's Q3 profit tops analysts' average estimate

** Systematix ("Hold"; PT: 1,162 rupees) says incremental levers such as BPSL-JFE JV, Mozambique coking coal acquisition and ongoing deleveraging are structurally positive for cash flows and return ratios in the medium term

** Jefferies ("Buy"; PT:1,169.35 rupees) expects strong sequential improvement ahead with rising prices and potential for Asian steelmaking margins to recover from a 15-year low

** Stock rated "Buy" on average by 30 analysts; median PT at 1,275 rupees - data compiled by LSEG

** In 2025, JSTL and sub-index rose nearly 29%

($1 = 91.7500 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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Jan 23 (Reuters) - JSW Steel Ltd JSTL.NS:

• Q3 CONSOL NET PROFIT 21.39 BILLION RUPEES

• EXPECT TO SPEND 150-160 BILLION RUPEES DURING FY26

• Q3 CONSOL TOTAL REV FROM OPS 459.91 BLN RUPEES; IBES EST. 445.94 BLN RUPEES

Further company coverage: JSTL.NS

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Jan 20 (Reuters) - JSW Steel Ltd JSTL.NS:

• INDIA COMPETITION REGULATOR: APPROVES COMBINATION BETWEEN BHUSHAN POWER AND STEEL, JSW SAMBALPUR STEEL, JFE STEEL CORP, JSW KALINGA STEEL

Further company coverage: JSTL.NS

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By Neha Arora

NEW DELHI, Jan 12 (Reuters) - India was a net exporter of finished steel in the first nine months of the financial year, with shipments reaching 4.8 million metric tons, up 33.3% from a year ago, according to provisional government data reviewed by Reuters on Monday.

The data showed that the world's second-biggest crude steel producer imported 4.65 million metric tons of finished steel in the same period.

Country-wise data on India's steel exports is expected later in the month.

In December, the government imposed an import tariff on some steel products to curb cheaper shipments, primarily from China.

The levy, locally known as a safeguard duty, will be imposed at 12% followed by 11.5% in the second year and 11% in the third year.

India produced 117.6 million metric tons of finished steel between April-December, while consumption stood at 119.3 million metric tons, the data showed.

Crude steel production during the period stood at 123.9 million metric tons, according to the data.

In January, leading Indian steelmakers raised prices of hot-rolled coils and cold-rolled coils by up to 2,000 rupees ($22.19) per metric ton, according to commodities consultancy BigMint.

Prices of hot-rolled coil ranged between 50,250 rupees per metric ton to 51,250 rupees per metric ton, the consultancy said.

($1 = 90.1413 Indian rupees)

(Reporting by Neha Arora; Editing by Ronojoy Mazumdar)

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Jan 9 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - CONSOLIDATED CRUDE STEEL PRODUCTION OF 7.48 MILLION TONNES FOR Q3 FY26

• JSW STEEL - BLAST FURNACE 3 AT VIJAYANAGAR UNDER SHUTDOWN FOR UPGRADE

Source text: ID:nBSE547lBC

Further company coverage: JSTL.NS

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By Ross Kerber

Jan 7 (Reuters) - This is the weekly Reuters Sustainable Finance Newsletter, which you can sign up for here .

Happy 2026. Over the New Year holiday I read an advance copy of a book on U.S. President Donald Trump's leadership style, but I didn't expect just how central the topic would become with Saturday's capture of Venezuela's president by U.S. forces.

The timing paid off with the interview I did with the book's authors, which you can read about in this week's column below. The column contains a link for the publisher's website about the soon-to-be-published book.

This newsletter also includes coverage of an antitrust probe in India and what to look for at the Consumer Technology Association's annual CES trade show in Las Vegas, baby.

Just like last year, please follow me on LinkedIn and/or Bluesky. You can reach me via [email protected]

Venezuela capture follows 'Trump's Ten Commandments' by the book

U.S. President Donald Trump's order for the U.S. military to capture Venezuela's president over the weekend looks in line with many of his other recent moves, foregoing bipartisan agreements and international alliances in favor of direct actions carried out with murky or shifting justifications.

Trump's decision-making process and management style have remained consistent, say two Yale leadership scholars in a new book, Trump's Ten Commandments. They call the president's understanding of authority that of "a tribal chieftain blended with the necessary fluidity and creative chaos of a business entrepreneur." In other words, a family businessman who should not be underestimated.

You can read my interview with Yale's Jeffrey Sonnenfeld by clicking here, and don't miss the included video Q&A.

Company news

India's Tata Steel,TISC.NS JSW Steel JSTL.NS and 26 other firms colluded on prices in breach of the country's antitrust law, a competition watchdog found according to this Reuters EXCLUSIVE report.

Even as automakers cut back on plans for electric vehicles, auto suppliers and startups are heavily pitching AI-backed autonomous driving technology, according to our PREVIEW of the CES trade show in Las Vegas.

Controversies about big tech companies' depreciation schedules are worrying, according to this REUTERS OPEN INTEREST column, citing cases including at Nvidia NVDA.O and Oracle.ORCL.N

On my radar

The owners of Chinese AI system DeepSeek agreed to improved disclosures about "hallucinations" in order to end an investigation by Italian regulators.

Hilton Worldwide Holdings HLT.N said it kicked out of its system a Minneapolis hotel that had refused bookings from U.S. Immigration and Customs Enforcement agents.

(Reporting by Ross Kerber; Editing by David Gregorio)

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By Aditya Kalra and Neha Arora

NEW DELHI, Jan 6 (Reuters) - India's competition watchdog has found market leaders Tata Steel TISC.NS, JSW Steel JSTL.NS, state-run SAIL SAIL.NS and 25 other firms breached antitrust law by colluding on steel selling prices, a confidential document shows, putting the companies and their executives at risk of hefty fines.

The Competition Commission of India (CCI) has also held 56 top executives, including JSW's billionaire Managing Director Sajjan Jindal, Tata Steel CEO T.V. Narendran and four former SAIL chairpersons, liable for price collusion over varying periods of time between 2015 and 2023, according to a CCI order dated October 6, which has not been made public and is being reported for the first time.

JSW declined to comment, while Tata Steel, SAIL, and the executives did not respond to Reuters queries. The CCI also did not respond to requests for comment.

The CCI investigation - the most high-profile case involving the steel industry - started in 2021 after a group of builders alleged in a criminal case brought to a state court that nine companies were collectively restricting the supply of steel and increasing prices.

Reuters reported in 2022 the watchdog raided some small steel companies as part of an investigation into the industry.

The probe was later expanded to as many as 31 companies and industry groups, as well as dozens of executives, the CCI's October order, reviewed by Reuters, shows. Under CCI rules, details of cases related to cartel-like activity are not made public before they have concluded.

The CCI investigation has "found the conduct of the parties to be in contravention" of Indian antitrust law and "certain individuals have also been held liable," the order stated.

The findings are a critical stage of any antitrust case.

They will be reviewed by top CCI officials and companies and executives will also have the opportunity to submit any objections or comments in a process that is likely to take several months given the scale of the investigation.

The CCI will then issue its final order, which will be released publicly.

RISK OF SIGNIFICANT FINES

India is the world's second-largest producer of crude steel, and demand for the alloy has been rising as infrastructure spending has increased in the fast-growing major economy.

JSW Steel has 17.5% of the Indian market, Tata Steel 13.3% and SAIL 10%, according to data from commodities consultancy BigMint.

In the last fiscal year to March 2025, JSW Steel reported standalone revenues of $14.2 billion, while Tata Steel's were $14.7 billion.

The CCI is empowered to impose penalties on steel companies of up to three times their profit or 10% of turnover, whichever is higher, for each year of wrongdoing. Individual executives can also be fined.

JSW and SAIL have denied the allegations before the CCI, according to two people familiar with the matter, who declined to be named because the case was confidential.

One of them said JSW had also submitted its response to the CCI, and denied the allegations.

WHATSAPP CHATS REVIEWED

The CCI opened the case after Coimbatore Corporation Contractors Welfare Association alleged in a case it brought before a Tamil Nadu state court in 2021 that steel companies had hiked prices by 55% during a six-month period to March 11 that year, and were artificially boosting prices by restricting supply to builders and consumers.

After the public prosecutor said the issue was an antitrust matter, the judge then ordered the CCI to take "appropriate action" on the complaint of the association, whose members are involved in road and highway construction.

Other companies in the CCI document that were found to have allegedly colluded on prices, were Shyam Steel Industries, state-run Rashtriya Ispat Nigam and other smaller-sized firms. Shyam and Rashtriya did not respond to Reuters queries.

The CCI has asked the steel companies to submit their audited financial statements for the eight financial years to 2023, the October order showed. The watchdog typically seeks such details to calculate potential penalties.

While the October order did not detail the evidence analysed, an internal CCI document from July 2025 said officials had uncovered WhatsApp messages exchanged between regional industry groups of steel product makers that suggested wrongdoing.

The messages "indicate that they are involved in fixing the prices/cutting down production," said the July document.

(Reporting by Aditya Kalra and Neha Arora; Additional reporting by Arpan Chaturvedi; Editing by Kate Mayberry)

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Dec 31 (Reuters) - Shares of India's major steel companies jumped between 2% and 4% on Wednesday, a day after New Delhi imposed import tariffs on some steel products as the government aims to curb cheap shipments from China.

Shares of India's top steel makers Tata Steel TISC.NS and JSW Steel JSTL.NS jumped 3.5% and 2.7%, respectively, topping the gainers on benchmark Nifty 50 .NSEI index, which rose 0.3%.

(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala)

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Dec 3 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL - JFE TO BUY 50% STAKE IN JSW KALINGA FOR 157.50 BILLION RUPEES

• 
  

Source text: ID:nBSE2G9Q2t

Further company coverage: JSTL.NS

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By Neha Arora

NEW DELHI, Nov 24 (Reuters) - India's finished steel imports during the first seven months of the financial year were down 34.1% year-on-year, according to provisional government data reviewed by Reuters on Monday.

India, the world's second-biggest crude steel producer, imported 3.8 million metric tons of finished steel during April-October and was a net importer of the alloy, the data showed.

South Korea was the biggest exporter of finished steel to India during the period, shipping in 1.4 million metric tons of finished steel, followed by China, Japan and Russia.

Domestically, steel prices were under pressure due to headwinds from weak demand and high supply, "while trading activity remained subdued in view of the ongoing festival season", the government report said.

Reuters reported in October that small steel producers were struggling with weak demand and falling prices.

India exported 3.5 million metric tons of finished steel during April-October, up 25.3% year-on-year, the data showed.

Italy and Belgium were the biggest markets for Indian steel during the period, followed by Spain, according to the data.

India's finished steel production during April-October stood at 91.6 million metric tons, while crude steel production was at 95.7 million metric tons, the data showed.

Consumption of finished steel during the period stood at 92.2 million metric tons, up 7.4% year-on-year.

(Reporting by Neha Arora; Editing by Jan Harvey)

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By Neha Arora

NEW DELHI, Oct 15 (Reuters) - India's steel mills secured only about half of their metallurgical coke needs from domestic suppliers in the first half of 2025, highlighting shortages and amplifying their calls for an easing of import curbs on the key steelmaking material.

Between January and June, India produced 1.5 million metric tons of metallurgical coke, while demand was roughly double that at 3.09 million tons, according to a source familiar with the matter and internal government data reviewed by Reuters.

India, the world's second-largest crude steel producer, introduced the import curbs in January to try to boost the local metallurgical coke industry. In June, it extended the curbs, setting country-specific quotas and capping overseas purchases at 1.4 million tons between July 1 and December 31.

STEELMAKERS CALL FOR EASING OF IMPORT CURBS

Some steel mill executives, speaking on condition of anonymity because they were not authorised to talk to the media, said the latest local metallurgical coke output data raised questions about that decision.

Indian steel producers have urged the government to raise import quotas nearly sevenfold to ease what they call a critical supply crunch.

The federal Ministry of Commerce and Industry did not respond to an email seeking comment.

Last year, the automobile industry lobby also urged the government against curbs on metallurgical coke imports, warning of potential supply disruptions for auto components, according to a letter from the Society of Indian Automobile Manufacturers seen by Reuters.

The industry group did not respond to an email seeking comment.

Major steelmakers, including JSW Steel JSTL.NS and ArcelorMittal Nippon Steel India have raised concerns about the curbs, saying they disrupt their expansion plans by making it difficult to source preferred grades locally.

Imports of low-ash metallurgical coke more than doubled in the four years before the curbs, with major suppliers including China, Japan, Indonesia, Poland, and Switzerland.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Mark Potter)

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Updates shares in paragraph 8, adds company's comment and background in paragraph 6,7

By Arpan Chaturvedi

Sept 26 (Reuters) - India's Supreme Court said on Friday that JSW Steel's JSTL.NS $2.3 billion takeover of Bhushan Power and Steel (BPSL) could go ahead, reversing its own earlier decision to reject the deal.

In May, the country's top court rejected the deal six years after it was first approved, unsettling buyers of other distressed assets and casting a shadow over Indian bankruptcy reforms introduced in 2016.

JSW then filed a request for it to review the rejection.

On Friday, the court said JSW had revived BPSL by investing heavily in modernization and safeguarded thousands of livelihoods by keeping the company a going concern.

The purpose of the Insolvency and Bankruptcy Code - to help transform a loss-making entity into a profit-making one - has been achieved, the court said.

The company said in an exchange filing that the Supreme Court has dismissed appeals filed by the promoters and some operational creditors of BPSL.

The Supreme Court cited major procedural lapses for its decision in May to scrap one of the most successful insolvency deals in India's history - the takeover of Bhushan Power by the country's biggest steelmaker in 2019.

Shares of JSW Steel rose as much as 1.6% after the news, but trimmed all gains to trade 1.4% lower amid a broad-based sell-off.

(Reporting by Arpan Chaturvedi, Chandini Monnappa and Anuran Sadhu; Editing by Clarence Fernandez and Edwina Gibbs)

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By Neha Arora

NEW DELHI, Aug 27 (Reuters) - Indian steel producers have called on the government to sharply raise import quotas for low-ash metallurgical coke, seeking a near sevenfold increase to address what they say is a critical supply crunch, according to sources and a government document.

India, the world's second-largest crude steel producer, in June extended import curbs on low-ash metallurgical coke, a steelmaking raw material, for six months starting in July.

New Delhi also set country-specific import quotas and capped purchases at 1.4 million metric tons from July 1 to December 31.

Steelmakers have urged Prime Minister Narendra Modi's administration to raise the import quota to 9.3 million metric tons, with the largest share of additional shipments sought from Indonesia, followed by Japan and Poland, said the sources aware of the matter.

The steelmakers' requests were recorded in a government document prepared by senior officials, which was reviewed by Reuters.

Steel firms have requested 2.6 million metric tons of imports from Indonesia, far exceeding the government's current allocation of 66,364 metric tons, according to the document.

Rapid capacity expansion by steel companies has strained met coke availability, and the abrupt policy curbs have dealt a blow to major producers, one of the sources said, speaking on condition of anonymity as deliberations were not public.

Many steel company executives have told the government that domestic met coke output is insufficient to meet demand, said the sources.

The federal Ministry of Commerce and Industry did not respond to a Reuters email seeking comments.

Major steelmakers such as JSW Steel JSTL.NS and ArcelorMittal Nippon Steel India have expressed concerns over import curbs, arguing the restrictions disrupt their expansion efforts due to the difficulty in sourcing preferred grades locally.

JSW, India's largest steelmaker by capacity, met federal trade ministry officials late last month to request a higher allocation of met coke, Reuters reported earlier.

Imports of low-ash met coke have more than doubled over the past four years, with major suppliers including China, Japan, Indonesia, Poland, and Switzerland.

Earlier this year, Piyush Goyal, India's trade minister, urged steelmakers to source met coke locally.

The federal Ministry of Steel has also supported the import restrictions, saying local supplies of met coke are sufficient to meet demand, Reuters reported earlier.

(Reporting by Neha Arora
Editing by Mayank Bhardwaj and Peter Graff)

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Aug 21 (Reuters) - JSW Steel Ltd JSTL.NS:

• UNIT DECLARED AS SUCCESSFUL BIDDER FOR A COAL BLOCK, RAJGAMAR DIPSIDE IN CHATTISGARH

Source text: ID:nBSEPgVwN

Further company coverage: JSTL.NS

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Aug 18 (Reuters) - JSW Steel JSTL.NS and South Korea's POSCO 005490.KS have entered a deal to explore setting up an integrated steel plant in India, the country's largest steelmaker by market capitalisation said on Monday.

(Reporting by Manvi Pant; Editing by Mrigank Dhaniwala)

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Aug 11 (Reuters) - BHP BHP.AX, the world's largest miner, is leading a global consortium of steelmakers to explore carbon capture, utilisation and storage (CCUS) opportunities across Asia, project manager Hatch said on Monday.

The group, comprising ArcelorMittal Nippon Steel India, JSW Steel JSTL.NS, Hyundai Steel 004020.KS, Chevron Corp CVX.N and Mitsui & Co 8031.T, will assess the deployment of CCUS in "hard-to-abate" sectors, such as steelmaking.

The one-year pre-feasibility study will focus on the potential to develop large-scale projects in Asia, which could repurpose or store captured carbon dioxide.

While carbon capture technologies are relatively mature, they face cost and regulatory hurdles in many Asian markets.

The consortium will evaluate how shared infra can cut costs, aggregate sufficient volumes of carbon dioxide for storage or reuse and distribute risks across companies.

"By leveraging shared knowledge and resources with our partners, we are investing in support for innovative solutions, like the potential of CCUS, that we see as an essential part of decarbonising hard-to-abate sectors such as steelmaking," said Ben Ellis, BHP's vice president of marketing sustainability.

The study is expected to conclude at the end of 2026, with findings to be made public.

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Sumana Nandy)

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Aug 11 (Reuters) - Hatch:

• CONSORTIUM UNDERTAKING PRE-FEASIBILITY STUDY TO ASSESS DEVELOPMENT OF CARBON CAPTURE, UTILISATION & STORAGE HUBS ACROSS ASIA

• CONSORTIUM OF ARCELORMITTAL NIPPON STEEL INDIA, JSW STEEL, HYUNDAI STEEL, BHP, OTHERS

• CONSORTIUM STUDY WILL SEEK POTENTIAL APPLICATIONS FOR CAPTURED CO2 IN INDUSTRIAL PROCESSES IN ASIA, OTHERS

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By Neha Arora

NEW DELHI, Aug 7 (Reuters) - India's JSW Steel has urged the government to raise the company's allocation in quotas to import low-ash metallurgical coke, a steelmaking fuel, to tide over shortfalls, two sources familiar with the matter said.

India, the world's second-biggest crude steel producer, in June extended country-specific import quotas of so-called met coke for six months to the end of December, capping purchases at 1.4 million metric tons.

JSW Steel, India's biggest steelmaker by capacity, met officials from the federal trade ministry late last month, the sources said, declining to be identified because deliberations are not public.

JSW Steel executives urged government officials to increase the company's allocation, citing operational difficulties at two of their units in the southern state of Karnataka and the central state of Chhattisgarh, the sources added, without saying how much extra the company wanted to import.

"Naturally, this quota is hampering operations and we have given representation. The matter is still under discussion," one of the sources said.

JSW Steel had the option of moving some of its surplus from other locations to the affected plants but the logistics cost was an impediment and not enough was being produced to meet the shortfalls, the source added.

The federal trade ministry did not respond to an email seeking comment. JSW Steel had no comment.

The import curbs have worried major steel producers in the past as well, including JSW Steel and ArcelorMittal Nippon Steel India, which have argued the curbs hinder the companies' expansion plans because it is difficult to source preferred grades locally.

India has also launched an anti-dumping probe into overseas supplies of low-ash met coke from Australia, China, Colombia, Indonesia, Japan, and Russia, following a request from an industry body.

Imports of low-ash met coke have more than doubled in the past four years and major suppliers of the raw material include China, Japan, Indonesia, Poland and Switzerland.

Earlier this year, Commerce Minister Piyush Goyal urged steelmakers to source met coke locally.

The federal Ministry of Steel has also backed the import curbs, saying there was adequate supply of met coke locally to meet demand, Reuters has reported.

(Reporting by Neha Arora. Editing by Mayank Bhardwaj and Mark Potter)

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Adds details of expansion from paragraph 2

Aug 4 (Reuters) - A joint venture between India's JSW Steel JSTL.NS and Japan's JFE Steel will invest 58.45 billion rupees ($669 million) to expand production capacity of cold rolled grain-oriented electrical steel across two Indian plants to meet growing domestic demand, JSW Steel said on Monday.

JSW and JFE will equally fund a combined 19.66 billion rupees for the expansion through equity, JSW Steel said. The added capacity will be commissioned in phases from fiscal year 2028. The company did the specify the source of rest of the funds.

Cold rolled grain-oriented electrical steel is mainly used in energy applications, and is considered to be more energy efficient, reducing carbon emissions.

JSW JFE Electrical Steel will raise production of the steel at its Nashik plant to 250,000 tons per annum from the current 50,000 TPA, for which the two companies plan to invest 43 billion rupees.

The companies will invest the remaining 15.45 billion rupees to augment capacity of an upcoming facility in Vijayanagar to 100,000 TPA from an originally planned 62,000 TPA, JSW Steel said in an exchange filing.

JSW JFE's Nashik plant was bought in January from Germany's Thyssenkrupp TKAG.DE in a 41.59 billion rupee deal.

($1 = 87.4070 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Harikrishnan Nair and Mrigank Dhaniwala)

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Updates with details and background throughout

Aug 4 (Reuters) - Australia's BlueScope Steel BSL.AX said on Monday it has assembled a heavyweight consortium of global steelmakers to bid for Sanjeev Gupta's troubled Whyalla Steelworks, over a month after the local government formally opened a sale process.

The group — comprising Japan’s Nippon Steel 5401.T, India’s JSW Steel JSTL.NS, and South Korea’s POSCO 005490.KS — brings a combined market value of A$115 billion ($74.4 billion), and is eyeing the South Australian plant as a future hub for low-emissions iron production for domestic and export markets.

The consortium has lodged a non-binding expression of interest but has yet to submit a formal bid.

Whyalla Steelworks was placed in administration in February, after its operating company collapsed under tens of millions in debt. The Australian and South Australian governments stepped in with a joint A$1.9 billion rescue package to safeguard local jobs and preserve a key piece of industrial infrastructure.

Australia formally opened the sale process in June, citing strong global interest from companies seeking a foothold in the emerging green steel economy.

Gupta's family conglomerate, GFG Alliance, was not immediately reachable for a Reuters request for comment.

($1 = 1.5466 Australian dollars)

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Sandra Maler)

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July 31 (Reuters) -

• INDIA'S TOP COURT SAYS RECALLS PREVIOUS ORDER QUASHING $2.3 BILLION JSW-BHUSHAN POWER DEAL

• INDIA'S TOP COURT SAYS TO HEAR CHALLENGE TO $2.3 BILLION JSW-BHUSHAN POWER DEAL AFRESH

Further company coverage: JSTL.NS

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July 25 (Reuters) - Chery Automobile Co Ltd CHERY.UL:

• COOPERATION WITH INDIA'S JSW ON COMPONENTS SUPPLY, NOT INVOLVING TECHNOLOGIES- STATEMENT

Source text

Further company coverage: CHERY.UL

(Reporting by Jessie Pang and Beijing newsroom; Editing by Jacqueline Wong)

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** Indian steelmaker JSW Steel JSTL.NS beat first-quarter profit view on Friday, driven by firm domestic steel prices and easing raw material costs

** At least four analysts have upgraded their rating on the stock, while four have hiked their PTs - data compiled by LSEG

PRICE DRIVEN GROWTH

** Jefferies ("buy," PT: 1,200 rupees) says Q1 was a "good" quarter with a positive growth outlook by the company as it is further expanding its capacity to 36 mtpa in FY26

** Nuvama ("reduce," PT: 977 rupees) says earnings were driven by higher steel prices and they are expected to rise post-monsoon after bottoming out in July, thus boosting earnings for JSTL

** Emkay Global ("add," PT: 1,050 rupees) says extension of safeguard duty on imported cheap steel will help JSTL, with strong demand further supporting steel prices

(Reporting by Kashish Tandon in Bengaluru)

((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))

July 18 (Reuters) - JSW Steel Ltd JSTL.NS:

• JSW STEEL Q1 CONSOL NET PROFIT 21.84 BILLION RUPEES; IBES PROFIT EST. 20.39 BILLION RUPEES

• JSW STEEL Q1 CONSOL TOTAL REV FROM OPS 431.47 BLN RUPEES; IBES EST. 425.07 BLN RUPEES

Source text: [ID:]

Further company coverage: JSTL.NS

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