India

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India is considering including steel in its export promotion scheme

The steel sector will need almost $244 million a year for compensation

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India almost did not exported iron ore in October 2022

The reason was high export duties and a decrease in demand from China

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India reduced the export of rolled steel by 55% y/y in April-October 2022

The production of rolled products in this period increased by 6.4% y/y

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India cut iron ore production by 3% in January-September 2022

The decrease in iron ore production occurred as a result of the introduction of export duties on finished steel and steel raw materials

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Steel demand in India will remain stable till the end of FY2022/2023

The stimulus for steel consumption in the country, in particular, was state investment in infrastructure

India’s rolled products exports fell by 54% y/y in the first half of FY2022/2023

Steel production in India in April-September 2022 increased by 7% year-on-year

The Indian Government has set up advisory committees to deal with the problems of steel industry

Due to this, it is planned to reduce problems in the industry and accelerate the achievement of the goal of 300 million tons of capacity by 2030

India will bet on decarbonisation of steel production

The long-term goal is to reduce carbon emissions by 50% by 2047

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India proposes tariffs on British goods in response to restrictions on steel products

Protective measures implemented by the UK led to a reduction in Indian exports by 219 thousand tons

AMNS India invests $5 billion in expanding production capacity

Two blast furnaces to be built at the Hazira plant by mid-2026

India plans to impose anti-dumping duty on Chinese steel pipes

Recommended duty ranges from $114/t to $3,801/t

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