Tag: India

India US Trade Leaders Ease Duties, Forge Steel & Aluminum Export Harmony

India US Trade Leaders Ease Duties, Forge Steel & Aluminum Export Harmony india us trade

India US trade is primed to shift. Both countries seem eager to enter a new period of trade harmony, as India’s Ministries of Mines and Steel, along with the Department for Promotion of Industry and Internal Trade (DPIIT), recently set up an in-house system to oversee the export of steel and aluminum products to the […]

India’s Steel Industry Battles Cheap Imports

India’s Steel Industry Battles Cheap Imports

Imports seem to be the biggest bugbear for the Indian steel industry. Cheap steel from China, Vietnam, and several other countries flooded the domestic market for months, putting Indian steel companies at a significant disadvantage. The problem is now so severe that representatives from the steel sector and the Indian Steel Ministry met earlier this month […]

Steel Production and Export Pressure Push India’s Steel Trade into a Deficit

Steel Production and Export Pressure Push India’s Steel Trade into a Deficit

India officially reported a trade deficit in steel shipments in the April-October 2023 period. Analysts cited a continue drop in export demand and shifting steel production levels as the primary reasons why they total value of imports was more than that of exports. Furthermore, the continued slow demand from major markets like Europe continues to […]

India and China Plan to Discuss Carbon Tax with the EU

India and China Plan to Discuss Carbon Tax with the EU EU Carbon tax to be discussed between EU, India and China

Both India and China continue to denigrate the Carbon Border Adjustment Mechanism (CBAM), or “carbon tax” as it has come to be known, proposed by the European Union. Meanwhile, the EU claims the new scheme is integral to its plan to achieve zero emissions across six earmarked industries. The new tax regime recently moved into […]

Gold Prices Hover Near Psychological Range of U.S. $2,000

Gold Prices Hover Near Psychological Range of U.S. $2,000

For decades, gold has remained the best-performing asset class, providing double-digit returns for investors. True to form, gold demand this quarter remains above the long-term average as precious metal prices continue to move in response to global events. According to the World Gold Council (WGC), gold buying by central banks also continues at a scorching […]

India’s Steel Industry Braces Itself: Coking Coal Crisis Sparks Controversial Price Hikes

India’s Steel Industry Braces Itself: Coking Coal Crisis Sparks Controversial Price Hikes

India has almost replaced China as the most important coking coal export destination for the near future. This comes after a significant increase in steel demand in the subcontinent. The expected resurgence in China’s economy, mainly due to the government’s efforts to kick-start sectors like construction, has not materialized. In response, sector experts are beginning to […]

India’s Aluminum Appetite Surges: How Will This New Global Player Affect Aluminum Prices?

India’s Aluminum Appetite Surges: How Will This New Global Player Affect Aluminum Prices? Indian Aluminum

In an otherwise down market staring at a slow recovery in 2023, only India stands apart from the rest of the world in terms of aluminum production and consumption. Indeed, the government’s push for new infrastructure, especially for green energy, continues to drive domestic consumption and overall stability for aluminum prices. The country is already the […]

Desperate Move? Russia Importing Aluminum Oxide from India Amidst Shortage

Desperate Move? Russia Importing Aluminum Oxide from India Amidst Shortage Aluminum mill

A somewhat desperate Russia has made some interesting moves relating to its need for aluminum oxide, also known as alumina. Recent reports indicate that the country began importing alumina from India several months ago. This is in addition to China, which already supplied aluminum oxide to Russia’s Siberian plants. Obviously, Russia found itself on a […]

UK Government & Tata Steel Reach Tentative Agreement on Port Talbot Plant, Risking 3,000 Jobs

UK Government & Tata Steel Reach Tentative Agreement on Port Talbot Plant, Risking 3,000 Jobs tata steel

The UK government and Mumbai-headquartered Tata Steel have reached a preliminary agreement over a funding package regarding the Port Talbot plant in South Wales. The package is part of a £1.25 billion ($1.55 billion) plan to decarbonize Port Talbot’s operations. However, concerns over jobs and the potential effect on local steel prices remain. A September […]

Is the UK Government Playing Politics in the Tata Steel Port Talbot Transition?

Is the UK Government Playing Politics in the Tata Steel Port Talbot Transition? tata steel manufacturing

Tata Steel is in talks with the UK government to acquire £500 million ($630 million) in funding. The steelmaking multinational confirmed the funds would help the Port Talbot plant replace its operating blast furnaces with electric arc furnaces. The news comes as the Tata Steel share price recently reached a high for the year. “Given […]

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