India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
According to the China Iron and Steel Association (CISA), the European Cross-Border Carbon Adjustment Mechanism (CBAM) will raise the value of Chinese steel exports by 4-6%. According to China Daily, this will increase metallurgical business expenditures of $200–400 million a year when accounting for certificate fees.
Experts predict that the industry's future efforts will focus on aggressively modernising steelmaking technology, optimising production processes, and boosting waste recycling to achieve the "green" transformation of the energy-intensive steel sector. These actions will assist in addressing the difficulties brought about by the European Community Bank Act and the demands of downstream sectors like the automotive industry, which has an immediate need for environmentally friendly steel.
China has introduced a carbon pricing mechanism, actively building a national unified carbon market compatible with international standards, said Lu Shize, deputy director of the Climate Change Department of the Ministry of Ecology and Environment.
According to experts, the key support areas for modernisation and green transition for the Chinese steel industry are to promote stable growth, accelerate equipment upgrades and technological modernization, and promote digital transformation and low-carbon development.
Also Read : Asian markets project lower Q2 pricing for coking coal Fitch Ratings' prediction for iron ore and coking coal prices remains unchanged
India’s steel exports in May 2024 fell by 24% to 0.5 million tonnes (MT) from 0.66 MT in April...
Ferrous 14-Jun-2024
The US will impose tariffs up to 245% on various Chinese imports. Key sectors include steel, alumin...
US 16-Apr-2025
Major lenders are likely to give their approval for the revenue stream-wise demerger of Vedanta by t...
Large Corporate 26-Apr-2024
Iron ore futures fell as China's economic expectations impacted the steelmaking feedstock, with pric...
Ferrous 14-Mar-2024
1️⃣ Stricter EU Carbon Rules Pose Challenges for Indian Steel Exports2️⃣ India’s Steel Sector...
Business 31-Mar-2025
JSW Steel reported a 12% year-on-year (YoY) rise in crude steel production for February 2025, signal...
Business 10-Mar-2025