Coal News & Price Data – October 24, 2024
October 24, 2024
Coal News & Price Data – October 24, 2024
Category: India
India’s Steel Ministry Considers Temporary Tariff to Curb Chinese Imports Amid Rising Concerns
October 22, 2024
To protect local steelmakers from surging Chinese imports, India’s steel ministry is exploring a temporary safeguard duty to stabilize prices and support the industry…
Rising Coal Consumption in India’s Steel and Power Sectors
October 10, 2024
India’s increasing coal consumption is driving significant activity in both the steel production and power generation sectors…
India’s Finished Steel Exports Fall 40% Amid Weak EU Demand, Becomes Net Importer in 1H24
October 3, 2024
India’s finished steel exports fell sharply by 39.6% year-on-year over April-August, driven largely by declining demand from the European Union, according to data from the Joint Plant Committee. The total exports during this period amounted to 1.92 million metric tons (MMt), with the steepest declines seen in key EU markets…
Tata Steel Commissions India’s Largest Blast Furnace, Expands Kalinganagar Capacity
September 23, 2024
Tata Steel achieved a significant milestone in its expansion efforts by commissioning a new blast furnace at its Kalinganagar plant in Odisha last week, boosting the facility’s capacity from 3 million tonnes (mt) to 8 mt annually…
India Steel Producer RINL Faces Challenges Amid Coking Coal Shortage at Vizag Plant
September 16, 2024
State-owned steelmaker Rashtriya Ispat Nigam Ltd. (RINL) has been forced to shut down its blast furnace 3 at the Vishakhapatnam (Vizag) plant due to a coking coal shortage caused by a workers’ protest at the Gangavaram port. The shutdown, which occurred on 12 September, leaves RINL with only one operational blast furnace out of three at its 7.3 million tonne per year (t/yr) capacity plant, though no official announcement has been made by the company…
India’s DRI Production Growth Outpaces Crude Steel, But Coal Reliance Remains
September 16, 2024
India’s production of direct reduced iron (DRI), also known as sponge iron, has seen substantial growth, registering a compound annual growth rate (CAGR) of 8 percent over the last five years. DRI output rose to 51.5 metric tonnes (MT) in fiscal 2024, up from 34.7 MT in fiscal 2019, significantly outpacing the 5 percent growth in crude steel production during the same period, according to a recent report…
EU’s Anti-Dumping Probe on Hot-Rolled Steel Sparks Global Reactions
August 12, 2024
The European Union’s recent initiation of an anti-dumping (AD) investigation into hot-rolled flat steel imports from Egypt, India, Japan, and Vietnam has triggered significant responses from global market participants. Concerns are rising over the potential impact on supply chains and pricing across the steel industry…
Coal News & Price Data July 25, 2024 – Russian Coal Shipments Down, But Met Prices Continue to Slide
July 24, 2024
Met coal prices are down again, but by less as the deceleration continues leading into August as market participants wait on their saviors in India…
Indian Steel Industry Faces Challenges Amid Surging Imports and Declining Exports
July 23, 2024
Indian steelmakers are grappling with a surge of cheap steel imports, which has turned India into a net steel importer in the first quarter of FY25 (April to June)…
Coal News & Price Data July 23, 2024 – Met Prices Soften Further as China Steel Exports Climb
July 23, 2024
Met coal prices continue to weaken, but have finally begun to decelerate as we approach August and the return (hopefully) of Indian end users to the spot market…
India Overtakes China as Leading Steel Developer, Faces Environmental Challenges
July 22, 2024
India has surpassed China to become the world’s leading developer of steel, with a pipeline capacity of 258 million tonnes per annum (mtpa), according to a recent report by Global Energy Monitor (GEM)…