India

India’s Adani Group to enter the steel market through the acquisition of RINL

Indian government approved the sale of 100% state-owned RINL's shares

The Indian steel minister calls for support the country’s steel industry

The Ministry of Finance is proposed to cancel import duties on various steel raw materials

Indian government may reduce export duty on steel and iron ore

India's imports of iron ore and steel are rising amid declining exports, requiring government action to remedy the situation

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India’s steel export duty will act until at least December 2022

The effect of the export duty in the next few months will be a stabilizing factor in the market and will prevent its volatility

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Coking coal exports from Australia to India fell to a two-year low in August 2022

In July-August 2022, Indian steelmakers actively ordered cheap coke from China and Indonesia. It reduced the demand for coking coal

India’s RINL has signed a long-term contract with NMDC for the purchase of iron ore

The announced amount of deliveries per year will be about 25% of NMDC's annual production

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India reduced the rolled steel export by 66% y/y in August 2022

In April-August 2022, exports of rolled steel from India fell by 53% year-on-year – to 3.02 million tons

India has became a net steel importer in July for the first time since January 2021

The largest share in the total steel imports in April-July was hot-rolled products made of non-alloyed steel

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Tata Steel has received permission to build a steel plant in Ludhiana

The company plans to invest $325.8 million in the construction of a new electro-steel plant

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The Indian government obliged steelmakers to reduce emissions by 40% by 2030

India's steel minister calls on companies to switch to electric steelmaking instead of BOF's production

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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