India

India approves six new steel projects in Odisha

The projects will expand the capacity of Tata Steel, ArcelorMittal Nippon Steel and other Indian companies

Indian companies are buying Asian currencies to import coal from the Russian Federation

In July, Russia became the third largest supplier of coal to India, increasing the index by 21%

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India became steel net importer in July

Due to the 15% export duty, the country shipped 380,000 tons of steel abroad, while importing 444,000 tons

India plans to launch a carbon trading market

In this way, the country aims to accelerate the transition to cleaner fuels

Steel export duty in India could be increased soon – JSW Steel

Domestic steel prices in India fell by more than 20% after the imposition of the duty

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Indian SAIL ordered 80 thousand tons of washed coking coal from Russia

The arrival of coking coal is scheduled in the next few weeks, and payment will be made after unloading

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India plans to build 12 steel plants with a capacity of 60 million tons per year

New factories are planned to be set up in the state of Odisha

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India wants to double its steel production in the next 8 years

The newly appointed Minister of Steel of India considers reaching an annual output of 240 million tons by 2030

India reduced steel exports by 42% in May

Asian order book weakening and competitive prices from Chinese traders disrupted Indian exports

Indian steelmakers plan to reduce production in July due to low demand

Demand was negatively affected by the previously introduced export duty; inventories are overloaded

India’s introduction of export tariffs could hit the local steel market

Having weak domestic demand, Indian steel companies want to increase metal products exports to Europe

India introduced an export duty of 15% on 11 types of metal products

Export restrictions came into force on May 22, 2022

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