Steel Strips Wheels (SSWL) announced an order for $5 million worth of steel wheels over five years from a global original equipment manufacturer (OEM) based in the Southern Hemisphere. The company is set to begin series production in FY 2026 at its Chennai plant. SSWL's standalone net profit decreased by 13.6% to Rs 51.44 crore, with a 3.21% decline in revenue from operations to Rs 1,074.68 crore in Q3 FY25 compared to Q3 FY24.

The global off-highway wheels market, valued at USD 1556.2 million in 2023, is projected to reach USD 2555.8 million by 2032, growing at a CAGR of 6.12%. The market is driven by the increasing use of farm mechanization in emerging markets, with Asia-Pacific being the highest revenue contributor. Key players in the market include Moveero Limited, Accuride Corporation, and Steel Strips Wheels Limited.

The composite rollers market is projected to grow from US$ 177.42 million in 2022 to US$ 263.18 million by 2030, with a CAGR of 5.1%. The growth is attributed to increased use in various industries, particularly in Asia Pacific, where the market is dominated by the paper & pulp, mining, and textile sectors. Key players in the market include Dongguan Precision Converting Transmission Co Ltd, Pronexos BV, Composite Conveyor Equipment Co, Carbon Light Pvt Ltd, PROK Pty Ltd, ADENTE Advanced Engineering Technologies, Lorbrand (Pty) Ltd, Double E Co LLC, HAHL GmbH, and Rossini SpA.

The European Union (EU) is preparing to announce anti-subsidy investigations against Chinese steelmakers during a summit with the United States, according to the Financial Times. This move is part of efforts to shield EU industries from cheap competition and aligns with U.S. requests to avoid the re-imposition of tariffs on EU steel.

The European Union is planning to initiate anti-subsidy investigations against Chinese steelmakers during a summit with the U.S. with the aim of shielding European industries from cheap competition. This move is part of a bilateral effort to avoid the re-imposition of tariffs on EU steel, as requested by U.S. President Joe Biden.