India - Latest news GMK Center

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

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

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

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

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

Sales volume fell by 10% compared to the same period last year

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

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

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

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

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

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