CARBON EMISSIONS STEEL
Commodity Radar: Aluminium remains brittle amid Trump’s tariff heat. Here’s how to trade this base metal
India has raised concerns with the US over renewed tariffs on steel and aluminium, aiming for a bilateral resolution next week, as aluminium prices consolidate amid global trade concerns and supply shifts.
ArcelorMittal Nippon India to go green steel in a big way
ArcelorMittal Nippon Steel (AM/NS) India aims for 70% green steel production at its Hazira plant by 2027, aligning with India's green steel vision. This expansion, requiring a Rs 60,000 crore investment, targets 15.6 mtpa capacity with three-star green rating. Amidst US tariffs, calls for domestic steel industry protection are growing, with concerns about import surges.
JSW Steel to expand capacity at Salav unit to 10 million tonne
JSW Steel, under Chairman Sajjan Jindal, will invest Rs 50,000-60,000 crore to expand its Salav Works unit in Maharashtra, aiming for a 10 million tonne capacity increase over three-four years. The Salav unit, now under JSW Green Steel, will primarily export to Europe, focusing on green steel production to meet Carbon Border Adjustment Mechanism requirements.
UK government recalls Parliament for emergency legislation over saving British Steel
The UK government is urgently reconvening Parliament to address the crisis at British Steel, the nation's last plant producing steel from raw materials. Prime Minister Keir Starmer's government is seeking to temporarily nationalize the Scunthorpe plant, owned by China's Jingye Group, citing financial unsustainability due to tariffs and environmental costs.
Digital is an evolution… not a one-time transformation
The second round of Bosch Conversations in Mumbai, in partnership with The Economic Times, highlighted the use cases and challenges of cutting-edge technologies across Indian industry.
Tata Steel Netherlands to slash 1,600 jobs in restructuring push
Tata Steel Nederland has begun formal talks with its Central Works Council and informed trade unions about the proposed reorganisation, parent Tata Steel said in a regulatory filing on Wednesday. The company has filed a formal Request for Advice with the Netherlands' Central Works Council to initiate consultations on the proposed changes.
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Trump signs orders to expand coal power, invoking AI boom
These initiatives include legal actions against state regulations hindering coal, guarantees to protect coal investments, and support for coal technology development.
France strikes Hydrogen gold: World’s largest Hydrogen reserve worth $92 billion could make it a global leader in clean energy revolution
France has uncovered a massive 46 million-ton reserve of natural hydrogen valued at $92 billion in Moselle, potentially revolutionizing the clean energy industry. Unlike polluting gray hydrogen, this carbon-free fuel can be accessed without emissions. The discovery could reduce dependency on fossil fuels, boost France's energy security, and create thousands of jobs, according to scientists.
The mystery of China’s ‘Shadowless Church’: An architectural marvel defying light and gravity that has netizens spellbound
The Shadowless Church in Chengdu, China, designed by Shanghai Dachuan Architects, merges French-inspired elegance with modern sustainability. It uses innovative construction and lighting techniques to create a shadowless, glowing effect. Surrounded by lavender fields, the church is more than a place of worship; it’s an architectural wonder blending eco-friendliness with visual splendor.
The drums of war echo through steel’s scrapyard
With steel critical for military and infrastructure, governments worldwide are supporting the industry despite its pollution problems and need for restructuring.
EU emissions reprieve for carmakers may slow EV shift
The European Commission proposes to ease emission targets for automakers, granting them three years to meet the 2025 CO2 reduction goal. This move aims to safeguard profit margins and avoid fines amid struggling EV sales and Chinese competition, but may hinder Europe's climate progress and EV adoption.
India's steel industry contemplates potential fallout from Trump administration tariffs
U.S. tariffs on steel imports may benefit Indian manufacturers by lowering steel prices, but pose challenges for the domestic steel industry. While some support cheaper steel, concerns about "steel dumping" and environmental impact arise.
India's steel industry contemplates potential fallout from Trump administration tariffs
U.S. President Trump's high trade tariffs on steel imports are expected to benefit small factories in India by making steel cheaper. However, India's steel industry faces challenges including potential steel dumping and concerns about greenhouse gas emissions from coal-based production. Despite the government's investment in cleaner methods, the focus remains on expanding coal-based steel production, impacting long-term export prospects.
National green financing body on cards
The Indian government plans to establish a national institution to fund green initiatives, aiming for net-zero emissions by 2070. Niti Aayog is considering several models, including new banks or repurposing existing ones. India's current climate investment falls short of the necessary $170 billion annually. Sovereign green bonds have been issued to support these efforts.
Financial, capacity constraints of EU's carbon border policy may disrupt India's steel sector: Study
The EU's Carbon Border Adjustment Mechanism presents difficulties for India's small and medium-sized steel enterprises due to financial and technological constraints, as per an IIM-Lucknow study. While larger steel plants might adapt, smaller ones face significant challenges, leading to unequal outcomes. The study suggests supportive measures like technology transfer and capacity-building for fair decarbonisation.
Tapping minerals, pushing deep: Can India become a global leader in the critical minerals sector?
India's mineral industry, a major global producer, is poised to grow with the introduction of the National Critical Mineral Mission. Government initiatives include the removal of import duties on key minerals, increased exploration funding, and tax incentives. Efforts to enhance self-sufficiency in critical minerals aim to bolster India's role in the global green and technology sectors.
Green steel needs incentives to work and Japan has a plan
Decarbonising steel production is critical for the energy transition, with government policies like subsidies essential for progress. Japan is offering incentives for using low-emission steel in vehicles, aiming to make green steel affordable despite production challenges.
‘Donald Trump’s 25% steel tariffs don’t acknowledge carbon’s social cost — for that, he’d first need to admit climate change is real’
Gernot Wagner, a climate economist at Columbia Business School, discusses the implications of Donald Trump’s tariffs on the US economy, particularly in relation to China and the clean energy transition. He highlights the potential disruptions, trade wars, and the differing approaches of the US and EU on carbon tariffs.
Sops in works for MSMEs' green journey
The government is planning to offer fiscal incentives and regulatory relaxations to help MSMEs adopt green technologies for decarbonisation. Measures such as setting emission reduction targets, promoting green fuel, and creating a pool of skilled workforce are being considered to support the sector in line with India's 2070 net zero target.
Budget 2025: Steel ministry seeks $1.7 bn to help mills cut emissions
India's steel ministry seeks 150 billion rupees from the budget for incentives to produce low-carbon steel. The plan includes reducing emissions, boosting R&D, and promoting renewable energy loans. The incentives, aimed at achieving a 2070 net-zero target, will be in place until 2030. The government may use green steel in its projects to support this initiative.
Growth of dirtiest steelmaking tests India’s carbon mission
India's demand for steel has surged due to extensive infrastructure projects, leading to the rapid construction of small, polluting sponge iron plants. These units, dependent on low-grade iron ore and coal, complicate Modi's emissions reduction goals amid rising steel needs and environmental challenges from carbon-intensive production methods.
Explained: What is star rating system for green steel?
India defines green steel as having emissions below 2.2 tonnes of CO2 per tonne of finished steel and proposes 37% government procurement of this variant. A star-rating system categorizes green steel based on emission intensity, aiming to promote lower-carbon production amidst global pressure for greener practices.
Germany’s proposed steel emission standard new worry for Indian cos: GTRI
Germany’s new Low Emission Steel Standard (LESS) may add to the difficulties faced by India's steel industry. Categorizing steel by emission levels, LESS could damage exports and create negative perceptions. GTRI advised Indian firms to adopt low-carbon technologies and obtain LESS certification to improve sustainability and market access.
Germany's proposed low emission steel standard may pose challenges to Indian industry: GTRI
Germany's upcoming Low Emission Steel Standard (LESS) presents challenges for India's steel industry, which faces declining exports and higher imports. Indian steelmakers risk losing competitiveness without aligning with these standards. The industry must invest in low-carbon technologies and infrastructure, supported by government policies, to remain viable in global markets.
Green and bear it for a steely resolve
India is preparing to challenge the EU's Carbon Border Adjustment Mechanism (CBAM) at the WTO, which requires non-EU steel producers to report emissions. As the only major steel producer with significant growth (8.5% in early 2024), India must address its sector's high carbon footprint, responsible for 12% of national CO2 emissions. To meet climate targets and expand exports, India is exploring biomass and green hydrogen for decarbonisation. The government must push the industry towards greener practices, implement green steel procurement policies, support R&D, and establish frameworks for financing the transition to ensure a sustainable steel sector.
Tata Steel to pick up 26 per cent stake in Tata Power renewable arm
The steel-maker will also get into a fixed-tariff long-term agreement with TP Vardhaman Surya for sourcing 379 MW of captive renewable power. This is expected to cut carbon emissions by 50 million tonnes over a period of 25 years. "Our partnership with Tata Power Renewable Energy marks a pivotal step in Tata Steel's sustainability journey towards achieving Net Zero carbon emissions by 2045," TV Narendran, the chief executive officer and managing director of the company said.
EU's carbon mechanism to fuel large rise in steel import costs, says WoodMac
Consultancy Wood Mackenzie predicts that the EU's carbon border adjustment mechanism (CBAM) will significantly increase the costs of steel imports from India and China by 2034. The CBAM, set to be introduced next month, requires importers to report on the emissions embedded in their products.
Increase use of scrap in production: Minister Kulaste to steel makers
The industry must also adopt new-age technologies to lower their carbon emissions, the Minister of State for Steel said.
India-Southeast Asia will worsen emission profile on rising crude steel production
India has set a target of producing 300 million tonnes by 2030-31 when domestic consumption is expected to be more than 200 million tonnes. Indian mills produced 118 million tonnes of crude steel in 2021.
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