Sustained Import Surge and Net Importer Status
India became a net importer in Q1 with imports growing 22% QoQ and exports falling 16% QoQ. Imports from FTA countries like Japan, Russia, and China have increased despite safeguard duties in place.
JSWSTEEL / Q1-FY27 / risks
Keep the risk register visible.
JSW Steel · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
high
Sharp Long Steel Price Correction
Long steel prices saw significant correction in Q1 with TMT spot prices declining 7,000-8,000 rupees/ton from Q1 beginning levels. Wire rod also corrected 750-1,000 rupees/ton. This impacts Q2 as well.
Coking Coal Cost Volatility and Middle East Geopolitical Impact
Coking coal prices increased ~$17/ton vs guidance of $12-15, with additional $20/ton impact from Middle East conflict (shipping, bunker costs). Gas prices also elevated. Q2 will see $12-15 further increase before moderating in Q3.
Retail Channel De-stocking and Seasonal Weakness
Retail sales experienced pressure due to higher imports and channel de-stocking. Additionally, monsoon typically impacts project activity and rural demand, though management expects H2 to be stronger seasonally.