India

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Bharat’s steel industry needs significant capital investment to achieve zero emissions

Existing steel and cement plants will require $627 billion of additional funds

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ArcelorMittal and JSW Steel are showing interest in acquiring Vedanta’s assets

Vedanta is reviewing its strategic priorities as part of its capital allocation discussions

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Tata Steel Europe reduced steel sales by 4% y/y in April-September

The division's steel production decreased by 17% y/y through the maintenance of one of the blast furnaces in the Netherlands

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Bharat in September increased rolled steel consumption by 18% y/y

These indicators are due to high demand from state infrastructure projects

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Bharat to set carbon reduction targets for four sectors

Target indicators will also apply to the steel industry

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Export of eco-friendly steel from Bharat is not possible under current CBAM – AMNS

The country's steelmakers are already working on the decarbonization of production

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Bharat’s steelmakers will switch to green hydrogen by 2050 – forecast

Decarbonization of the country's steel sector will take longer than planned

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Bharat increased iron ore production by 13% y/y in January-August

The largest volumes of raw materials were extracted by the NMDC company – 31 million tons

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Steel demand in Bharat will grow by 10% in fiscal 2023/2024 – forecast

Growth will primarily come as infrastructure spending accelerates

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Bharat and US agree on preferential treatment for steel exports

Countries have closed pending disputes at the WTO

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India needs more initiatives to obtain additional scrap volumes

Currently, the country produces about 22 million tons of scrap per year

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India increased steel production by 12.8% y/y in August

Pig iron smelting for the month increased by 8.1% y/y

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