Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
1️⃣ Court denies JSW Steel & Trafigura’s plea for met coke import clearance, citing regulatory concerns.
2️⃣ The ruling may affect steel production costs and force companies to seek alternative suppliers.
3️⃣ Industry stakeholders call for policy clarity to prevent disruptions in key raw material imports.
A court has rejected a request by JSW Steel and Trafigura seeking clearance for certain shipments of metallurgical coke (met coke), adding hurdles to their supply chains. The ruling comes amid regulatory scrutiny over import compliance and quality specifications for metallurgical coke, a critical raw material for steel production.
JSW Steel, one of India’s largest steel producers, and commodity trading giant Trafigura had jointly appealed for the release of specific imported met coke consignments, citing operational disruptions and financial implications. However, the court upheld existing trade and import regulations, preventing the clearance of the disputed shipments.
The rejection could impact steel production costs and disrupt supply chains, as met coke plays a crucial role in blast furnace operations. Industry experts warn that tightening import restrictions may push steelmakers to seek alternative domestic or overseas suppliers, potentially raising input costs.
JSW Steel and Trafigura are expected to explore legal alternatives or negotiations to resolve the dispute. Meanwhile, Indian steelmakers are advocating for clearer trade policies to avoid further disruptions in raw material imports.
Also Read : Indian Oil, Panasonic Energy enter pact to make lithium cells India and UK conclude negotiations on FTA and Double Taxation Convention.
Vikram Solar announced on Friday that it has received a 397.7 MWp solar module supply order for NTPC...
Renewables 17-May-2024
The proposed Noida Airport is expected to provide direct access to Delhi’s Indira Gandhi Inter...
Construction 23-Jan-2024
Chinese President Xi Jinping promised to encourage Chinese firms to invest in minerals-rich but econ...
China 29-Feb-2024
According to the data sourced from the Indian Ports Association (IPA) on Monday, March 11, India's c...
Raw Material 11-Mar-2024
Liberty Steel files last-resort restructuring plan. Key creditors oppose; decision pending. 1,500...
Business 22-May-2025
POSCO, a major steel company from South Korea, and the United Arab Emirates (UAE)-based ADNOC, which...
Asia 08-Feb-2024