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 […]
Tag: India
UK Government & Tata Steel Reach Tentative Agreement on Port Talbot Plant, Risking 3,000 Jobs
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?
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 […]
Tata’s Port Talbot Steel Manufacturing Plant Faces Uncertain Future, UK Pledges £500 Million Lifeline
The British government and Tata Steel remain in discussion regarding the future of the Port Talbot steel manufacturing plant. Recently, the government said they may pledge a substantial £500 million (approx. U.S. $629 million) in financial support for the South Wales facility. This may be in addition to Tata Steel India’s planned investment of £700 million […]
Chinese Exports, Steel Prices Trigger Crisis for Indian Producers
India may be the world’s second-largest steel producer, yet it continues to grapple with reliance on steel imports. In the last few months, China has emerged as a major steel exporter to India, leading to protests from India’s domestic sector. Indeed, India’s June 2023 steel imports rose by 5.9% month-on-month and 7.6% year-on-year. Alongside China, the country also […]
Is India the U.S.’s New China?
In a recent interview, Gideon Rachman, Chief Foreign Affairs Commentator at the Financial Times, explored the growing relationship between the U.S. and India. The article primarily targets a British audience, but still playfully mock the Brits’ obsession with the “special relationship” between the UK and US. Most people acknowledge that this relationship originated during the […]
Most Indian Steel & Aluminum Imports to Be Excluded From U.S. Tariffs
Indian Prime Minister Narendra Modi recently visited the United States. During his stay, the two nations agreed to resolve six long-standing disputes at the World Trade Organization (WTO). U.S. steel news outlets watched this exchange particularly closely. This is because one of the subjects of debate was India’s imposition of retaliatory tariffs on U.S. products, […]
EU Cross-Border Adjustment Mechanism Deals Blow to India’s Aluminum Industry
The EU’s implementation of the Cross-Border Adjustment Mechanism (CBAM) poses a significant challenge to India’s aluminum industry and the global price of aluminum. The move stems from the EU’s eagerness to tackle carbon and achieve net-zero emissions by 2050. However, as one of the leading low-cost aluminum producers, India faces a considerable setback due to […]
Is India the New China for Global Steel Production?
COVID-19, poor demand, and several other factors caused a drop in steel production worldwide the past few years. This included China, which is not only the biggest steel producer, but one with a massive impact on steel prices. Indeed, according to a report by the World Steel Association, global crude steel production, including semi-finished products, […]
Tata Steel Trials Injecting Hydrogen Gas into Blast Furnace to Cut Carbon Emissions
India’s steel giant, Tata Steel, recently announced it had successful injected hydrogen into one of its blast furnaces. Many tout it as the world’s first such experiment by a steelmaker on so vast a scale. The goal of such a process is to potentially reduce carbon dioxide emissions by replacing up to 20% of the […]