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Reuters
29-05-2025
- Business
- Reuters
Markets ask how soon Nippon Steel will benefit from $15 billion bid for U.S. Steel
TOKYO, May 29 (Reuters) - Nippon Steel (5401.T), opens new tab investors and analysts are asking if its $15-billion deal to buy U.S. Steel (X.N), opens new tab, backed but not yet approved by President Donald Trump, is positive for the near term, even if its hopes for strong U.S. demand materialise. Such a merger would create the world's third-largest steel producer by volume, after China's Baowu Steel Group and Luxembourg-based ArcelorMittal ( opens new tab, data from the World Steel Association (WorldSteel) shows. The "planned partnership" would create at least 70,000 jobs and add $14 billion to the U.S. economy via Nippon Steel's additional investments, Trump said last week. While full details of the deal remain unclear, U.S. Steel shares surged 21% on the news and Nippon Steel gained 7%. Nippon Steel did not exclude issuing new shares to fund the takeover, Vice Chairman Takahiro Mori said in December, after having already raised some funds through hybrid financing and asset sales. "If the new equity is issued, investors will rightly be asking: is this the best possible use of capital at this moment?" said Fiona Deutsch, lead analyst with Australasian Centre for Corporate Responsibility (ACCR). The company had pledged an investment of up to $4 billion in a new coal-dependent blast furnace, said Deutsch, whose climate activist group holds less than 1% of Nippon Steel's shares. That plan, part of a wider investment commitment of $14 billion, comes "at a time when the global steel sector is shifting towards low-carbon alternatives", she added. Nippon Steel shares were up 1% by 0405 GMT, outperforming the overall Nikkei index (.N225), opens new tab which was up 1.6%. Unveiling the deal in late 2023, Nippon Steel offered $55 for each share of U.S. Steel, for a premium of 40% at the time. U.S. Steel shares closed at $53.3 on Wednesday. "There's a lot of immediate negative effects, even though the long-term effect may be positive," said an adviser to institutional investors on strategies for Nippon Steel. He cited the dilution as a further deterrent, besides the high offer price and additional investment commitments. Nippon Steel did not reply to a Reuters request for a comment. "In the short term, there are concerns about financing," said Shinichiro Ozaki, a senior analyst at Daiwa Securities. "Given that U.S. Steel reported a net loss for the January-March period, the stock market may worry about the limited likelihood of a short-term return on the investment." Projections that domestic demand will stay weak have pushed Nippon Steel, which is Japan's largest steelmaker, and others to look to overseas expansion, while they consider shutting some blast furnaces at home. U.S. Steel is key to Nippon Steel's goal to raise its global output capacity to more than 100 million metric tons a year from 63 million tons now, as it aims to benefit from demand in India and the United States. Both markets are relatively protected from vast steel exports from China, the world's top producer, thanks to protectionist measures they have adopted, such as tariffs. In March, Nippon Steel President Tadashi Imai, who also chairs the Japan Iron and Steel Federation, warned that U.S. auto and steel tariffs could cut several million tons from Japan's annual steel output to below 80 million tons. Ownership of U.S. Steel could provide a shield for Nippon Steel from the impact of tariffs on non-U.S. operations, said Alistair Ramsay, vice president of Rystad Energy. "Should underlying demand in the United States begin and continue to recover, then we would expect the investment to pay off in good time, regardless of the duration of tariffs," he said. "But that's a big if, given how far the U.S. market has shrunk over the past few years, never mind this century." U.S. steel consumption is expected to rise by 2% this year after a drop of 1.5% in 2024, according to WorldSteel. This month, Nippon Steel said it would cut its dividend for the current fiscal year to 120 yen a share, off last year's 160 yen, and its lowest since 2021, amid a projected fall in profits, but the overall payout ratio would stay at 30%. "For the investor who cares about the share price today, you wouldn't be looking at factoring in synergies based on what you think might happen in two to three years," said the adviser, who sought anonymity as the matter is a sensitive one.
Yahoo
23-05-2025
- Business
- Yahoo
Molybdenum (Mo) Market to Reach $ 6.70 Billion by 2030: Industry Trends, Value, Growth & Future Forecast
Molybdenum Market Outlook 2025-2030 NEW DELHI, May 23, 2025 /PRNewswire/ -- The Global Molybdenum Market size was estimated at approximately USD 5.32 billion in 2023, with projections indicating it could grow to around USD 6.70 billion by 2030 as per MarkNtel Advisors study. This growth represents a compound annual growth rate (CAGR) of about 3.92% from 2025 to 2030. Recent analyses reveal an increase in production volumes, rising from 575.4 million pounds (mlbs) to 627.4 mlbs. The Asia-Pacific region dominates the molybdenum market, with China leading the way in production output, which has surged from 205.6 mlbs in 2019 to 281.8 mlbs in 2023. In contrast, the South American region has witnessed a production decline of 10% since 2019, primarily due to heightened environmental regulations and reduced ore grades. The broader global context also shows a 3% production decrease in other regions. On the consumption front, global molybdenum consumption increased from 576.3 mlbs in 2019 to 630 mlbs in 2023. The Asia-Pacific region again takes the lead, with China's consumption rising by 26% during this period, from 220.9 mlbs to 278.5 mlbs. Conversely, Europe—the second-largest market—experienced an 8% decrease in demand, highlighting contrasting growth dynamics within the molybdenum market. Interested User Can Get a FREE PDF sample of the report here - Global Molybdenum Market Statistics: Market Size in 2023: USD 5.32 Billion Projected Valuation by 2030: USD 6.70 Billion Forecast Period CAGR: 3.92% (2025–2030) Base Year: 2023 | Historical Years: 2020–2022 Leading Application Segment: Steel Production Dominant Region: Asia-Pacific Global Molybdenum Market Research Report Key Finding - 1.) Key Driver: Surge in Steel Production and Its Impact on Molybdenum Demand Steel production serves as the principal catalyst for molybdenum consumption within the Global Molybdenum Market. In 2023, approximately 71% of the molybdenum, equivalent to 447.3 million pounds (or 184,058.4 metric tons), was utilized in the manufacture of various steel grades. This trend is set to accelerate as demand for steel continues to rise. According to the World Steel Association, projected steel demand is expected to increase by 2.96%, climbing from 1,599.4 million metric tons in 2023 to 1,646.7 million metric tons by 2025. Furthermore, as inflationary pressures diminish, largely due to sustained high interest rates from central banks, any potential interest rate cuts could stimulate economic recovery. For example, in June 2024, the European Central Bank reduced its interest rate by 25 basis points, leading to an uptick in production in April. This decrease triggered a noteworthy year-over-year increase in steel production of 5.1% in June, followed by a 5.7% rise in July within the European Union. The strategic reduction of interest rates by major economies, as inflation subsides, is likely to foster significant growth in steel demand and subsequently bolster the Global Molybdenum Market. 2.) Opportunity: Growing Demand for Molybdenum Driven by Advancements in Technology The rise of advanced technologies is creating significant growth opportunities in the Global Molybdenum Market. As the world embraces digitalization through innovations like the Internet of Things (IoT) and 5G, the demand for computer chips and semiconductors is surging, thereby increasing the need for molybdenum. This metal is vital due to its outstanding features, including high thermal and electrical conductivity, low thermal expansion, and excellent thin-film resistivity. For example, Lam Research highlighted in February 2024 that molybdenum's thin-film resistivity makes it an excellent substitute for tungsten in semiconductors, further emphasizing the vital role of molybdenum in today's technology-driven landscape. For in-depth analysis, market data, and forecasts, access the complete study - 3.) Industry Challenge: Impact of Rising ESG Regulations on Molybdenum Production The escalating challenge of climate change, driven by greenhouse gas emissions, pollution, and biodiversity loss, has led governments to establish stringent ESG norms and regulations. These measures aim to set emission targets that companies must adhere to for sustainable operations, impacting molybdenum production capacity worldwide. While these regulations may enhance environmental governance, they also introduce market volatility and strain profit margins, raising concerns about the feasibility of molybdenum production. For example, in June 2023, Antofagasta's Zaldívar mining division sought to extend its mining rights while planning to change its water sourcing to seawater or third-party providers. Additionally, extreme weather events like wildfires and flooding pose further threats to production capabilities, presenting challenges for the growth of the Global Molybdenum Market in the coming years. Global Molybdenum Market Segmentation Insights: Who Lead the Industry By Application (Electric Conductivity, Imaging, Metal Alloys, Catalyst, Others) By End-User (Oil & Gas, Chemical & Petrochemical, Electronics, Iron & Steel, Energy & Power By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific) - Metal Alloys Segment Dominates the Molybdenum Market The Global Molybdenum Market shows that the Metal Alloys segment holds the largest share, influenced by applications like Electric Conductivity, Imaging, catalysts, and more. This segment is expected to maintain its dominance throughout the forecast period. The demand for molybdenum is closely linked to the iron and steel industry, with approximately 71% of global production utilized in various steel grades. Additionally, around 3% of the total molybdenum produced, equivalent to 18.9 million pounds in 2023, is allocated for nickel alloys. This significant usage underscores the importance of metal alloys in driving market dynamics. - Asia-Pacific Region Dominates the Molybdenum Industry The Asia-Pacific region stands out as the frontrunner in molybdenum production and consumption, primarily due to China's robust steel production industry. In 2023, global molybdenum production reached 627.4 million pounds, with China accounting for approximately 45%, or 281.8 million pounds. The country not only leads in production but also in consumption, utilizing 278.5 million pounds of molybdenum that same year. Recognizing molybdenum as a strategic resource, China possesses some of the largest reserves globally. The demand for specialized and high-quality steel is set to increase, driven by the Chinese Government's 14th Five-Year Plan, which aims to enhance manufacturing capabilities. Furthermore, Antaike China projects that investments in wind power could result in an estimated molybdenum consumption of 300,000 tonnes by 2050. Get Customization on this Report- Competitive Landscape: Dominated by Top Molybdenum Manufacturers Like: Multi Metal Development Limited Anglo American BHP (Peru Antamina) Antofagasta PLC Centerra Gold Inc. CMOC Group Codelco Freeport-McMoRan (Climax Molybdenum) Grupo Mexico Plansee Rio Tinto Zijin Mining Group Co., Ltd. ABSCO Limited KGHM Others Companies Investment & Market Expansion May 2024: Anglo American is planning to invest more than USD 80 million in Peru. This step is regarding the company looking to add six-ore floatation cells for better copper and molybdenum recovery. List of Tables Table 1: Global Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 2: Global Molybdenum Market Share & Analysis by Application Table 3: Global Molybdenum Market Share & Analysis by End-User Table 4: North America Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 5: The US Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 6: Brazil Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 7: Europe Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 8: Saudi Arabia Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 9: Asia-Pacific Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 10: Company Profiles – Overview of Key Players in the Global Molybdenum Market Table 11: Strategic Alliances or Partnerships Overview of Key Players Table 12: Recent Developments of Major Companies Schedule a Consultation with Our Experts! - List of Figures Figure 1: Global Molybdenum Market Dynamics - Growth Drivers and Challenges Figure 2: Global Molybdenum Market Trends & Insights (2020-2030) Figure 3: Molybdenum Market Outlook by Region Figure 4: Molybdenum Market Application Segmentation Figure 5: Molybdenum Market Dynamics - Opportunities Analysis Figure 6: Supply Chain Analysis of the Global Molybdenum Market Figure 7: Revenue Shares by Company in the Molybdenum Market Figure 8: Market Outlook of Molybdenum by End-User Segment Figure 9: Molybdenum Market Competition Characteristics Figure 10: Key Strategic Imperatives for Success & Growth in Molybdenum Market About Us – MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others. We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others. Similar Report Topic – Global Green Steel Market - it is projected to grow at a CAGR of around 12.22% during the forecast period, 2025-30. Global Biomethanol Market - it is estimated to grow at a CAGR of around 26.45% by 2030 Global Primary Battery Market - it was valued at around USD 18.8 billion in 2024 and is projected to reach USD 26 billion by 2030 Global Gardening Market - it was valued at around USD 120 billion in 2024 and is projected to reach USD 150 Billion by 2030 Global 30mm Medium Caliber Market - it is estimated to grow at a CAGR of around 4.5% by 2030 Global Energy Drink Market - it was valued at USD 87 billion in 2024 and is projected to reach USD 134 billion by 2030. Global Denim Jeans Market - it is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2025-30. Global Luxury Furniture Market – Size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Global Value-Based Healthcare Market - it is valued at USD 1.3 trillion in 2025 & is estimated to grow at a CAGR of around 16.09% during the forecast period, i.e., 2025-30. Contact: MarkNtel AdvisorsOffice No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, IndiaContact No: +91 8719999009Email: sales@ our Website: Source: Logo: View original content to download multimedia: SOURCE MarkNtel Advisors
Yahoo
23-05-2025
- Business
- Yahoo
Molybdenum (Mo) Market to Reach $ 6.70 Billion by 2030: Industry Trends, Value, Growth & Future Forecast
Molybdenum Market Outlook 2025-2030 NEW DELHI, May 23, 2025 /PRNewswire/ -- The Global Molybdenum Market size was estimated at approximately USD 5.32 billion in 2023, with projections indicating it could grow to around USD 6.70 billion by 2030 as per MarkNtel Advisors study. This growth represents a compound annual growth rate (CAGR) of about 3.92% from 2025 to 2030. Recent analyses reveal an increase in production volumes, rising from 575.4 million pounds (mlbs) to 627.4 mlbs. The Asia-Pacific region dominates the molybdenum market, with China leading the way in production output, which has surged from 205.6 mlbs in 2019 to 281.8 mlbs in 2023. In contrast, the South American region has witnessed a production decline of 10% since 2019, primarily due to heightened environmental regulations and reduced ore grades. The broader global context also shows a 3% production decrease in other regions. On the consumption front, global molybdenum consumption increased from 576.3 mlbs in 2019 to 630 mlbs in 2023. The Asia-Pacific region again takes the lead, with China's consumption rising by 26% during this period, from 220.9 mlbs to 278.5 mlbs. Conversely, Europe—the second-largest market—experienced an 8% decrease in demand, highlighting contrasting growth dynamics within the molybdenum market. Interested User Can Get a FREE PDF sample of the report here - Global Molybdenum Market Statistics: Market Size in 2023: USD 5.32 Billion Projected Valuation by 2030: USD 6.70 Billion Forecast Period CAGR: 3.92% (2025–2030) Base Year: 2023 | Historical Years: 2020–2022 Leading Application Segment: Steel Production Dominant Region: Asia-Pacific Global Molybdenum Market Research Report Key Finding - 1.) Key Driver: Surge in Steel Production and Its Impact on Molybdenum Demand Steel production serves as the principal catalyst for molybdenum consumption within the Global Molybdenum Market. In 2023, approximately 71% of the molybdenum, equivalent to 447.3 million pounds (or 184,058.4 metric tons), was utilized in the manufacture of various steel grades. This trend is set to accelerate as demand for steel continues to rise. According to the World Steel Association, projected steel demand is expected to increase by 2.96%, climbing from 1,599.4 million metric tons in 2023 to 1,646.7 million metric tons by 2025. Furthermore, as inflationary pressures diminish, largely due to sustained high interest rates from central banks, any potential interest rate cuts could stimulate economic recovery. For example, in June 2024, the European Central Bank reduced its interest rate by 25 basis points, leading to an uptick in production in April. This decrease triggered a noteworthy year-over-year increase in steel production of 5.1% in June, followed by a 5.7% rise in July within the European Union. The strategic reduction of interest rates by major economies, as inflation subsides, is likely to foster significant growth in steel demand and subsequently bolster the Global Molybdenum Market. 2.) Opportunity: Growing Demand for Molybdenum Driven by Advancements in Technology The rise of advanced technologies is creating significant growth opportunities in the Global Molybdenum Market. As the world embraces digitalization through innovations like the Internet of Things (IoT) and 5G, the demand for computer chips and semiconductors is surging, thereby increasing the need for molybdenum. This metal is vital due to its outstanding features, including high thermal and electrical conductivity, low thermal expansion, and excellent thin-film resistivity. For example, Lam Research highlighted in February 2024 that molybdenum's thin-film resistivity makes it an excellent substitute for tungsten in semiconductors, further emphasizing the vital role of molybdenum in today's technology-driven landscape. For in-depth analysis, market data, and forecasts, access the complete study - 3.) Industry Challenge: Impact of Rising ESG Regulations on Molybdenum Production The escalating challenge of climate change, driven by greenhouse gas emissions, pollution, and biodiversity loss, has led governments to establish stringent ESG norms and regulations. These measures aim to set emission targets that companies must adhere to for sustainable operations, impacting molybdenum production capacity worldwide. While these regulations may enhance environmental governance, they also introduce market volatility and strain profit margins, raising concerns about the feasibility of molybdenum production. For example, in June 2023, Antofagasta's Zaldívar mining division sought to extend its mining rights while planning to change its water sourcing to seawater or third-party providers. Additionally, extreme weather events like wildfires and flooding pose further threats to production capabilities, presenting challenges for the growth of the Global Molybdenum Market in the coming years. Global Molybdenum Market Segmentation Insights: Who Lead the Industry By Application (Electric Conductivity, Imaging, Metal Alloys, Catalyst, Others) By End-User (Oil & Gas, Chemical & Petrochemical, Electronics, Iron & Steel, Energy & Power By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific) - Metal Alloys Segment Dominates the Molybdenum Market The Global Molybdenum Market shows that the Metal Alloys segment holds the largest share, influenced by applications like Electric Conductivity, Imaging, catalysts, and more. This segment is expected to maintain its dominance throughout the forecast period. The demand for molybdenum is closely linked to the iron and steel industry, with approximately 71% of global production utilized in various steel grades. Additionally, around 3% of the total molybdenum produced, equivalent to 18.9 million pounds in 2023, is allocated for nickel alloys. This significant usage underscores the importance of metal alloys in driving market dynamics. - Asia-Pacific Region Dominates the Molybdenum Industry The Asia-Pacific region stands out as the frontrunner in molybdenum production and consumption, primarily due to China's robust steel production industry. In 2023, global molybdenum production reached 627.4 million pounds, with China accounting for approximately 45%, or 281.8 million pounds. The country not only leads in production but also in consumption, utilizing 278.5 million pounds of molybdenum that same year. Recognizing molybdenum as a strategic resource, China possesses some of the largest reserves globally. The demand for specialized and high-quality steel is set to increase, driven by the Chinese Government's 14th Five-Year Plan, which aims to enhance manufacturing capabilities. Furthermore, Antaike China projects that investments in wind power could result in an estimated molybdenum consumption of 300,000 tonnes by 2050. Get Customization on this Report- Competitive Landscape: Dominated by Top Molybdenum Manufacturers Like: Multi Metal Development Limited Anglo American BHP (Peru Antamina) Antofagasta PLC Centerra Gold Inc. CMOC Group Codelco Freeport-McMoRan (Climax Molybdenum) Grupo Mexico Plansee Rio Tinto Zijin Mining Group Co., Ltd. ABSCO Limited KGHM Others Companies Investment & Market Expansion May 2024: Anglo American is planning to invest more than USD 80 million in Peru. This step is regarding the company looking to add six-ore floatation cells for better copper and molybdenum recovery. List of Tables Table 1: Global Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 2: Global Molybdenum Market Share & Analysis by Application Table 3: Global Molybdenum Market Share & Analysis by End-User Table 4: North America Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 5: The US Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 6: Brazil Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 7: Europe Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 8: Saudi Arabia Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 9: Asia-Pacific Molybdenum Market Size & Analysis by Revenues (USD Million) & Volume (Thousand Tons) Table 10: Company Profiles – Overview of Key Players in the Global Molybdenum Market Table 11: Strategic Alliances or Partnerships Overview of Key Players Table 12: Recent Developments of Major Companies Schedule a Consultation with Our Experts! - List of Figures Figure 1: Global Molybdenum Market Dynamics - Growth Drivers and Challenges Figure 2: Global Molybdenum Market Trends & Insights (2020-2030) Figure 3: Molybdenum Market Outlook by Region Figure 4: Molybdenum Market Application Segmentation Figure 5: Molybdenum Market Dynamics - Opportunities Analysis Figure 6: Supply Chain Analysis of the Global Molybdenum Market Figure 7: Revenue Shares by Company in the Molybdenum Market Figure 8: Market Outlook of Molybdenum by End-User Segment Figure 9: Molybdenum Market Competition Characteristics Figure 10: Key Strategic Imperatives for Success & Growth in Molybdenum Market About Us – MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others. We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others. Similar Report Topic – Global Green Steel Market - it is projected to grow at a CAGR of around 12.22% during the forecast period, 2025-30. Global Biomethanol Market - it is estimated to grow at a CAGR of around 26.45% by 2030 Global Primary Battery Market - it was valued at around USD 18.8 billion in 2024 and is projected to reach USD 26 billion by 2030 Global Gardening Market - it was valued at around USD 120 billion in 2024 and is projected to reach USD 150 Billion by 2030 Global 30mm Medium Caliber Market - it is estimated to grow at a CAGR of around 4.5% by 2030 Global Energy Drink Market - it was valued at USD 87 billion in 2024 and is projected to reach USD 134 billion by 2030. Global Denim Jeans Market - it is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2025-30. Global Luxury Furniture Market – Size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Global Value-Based Healthcare Market - it is valued at USD 1.3 trillion in 2025 & is estimated to grow at a CAGR of around 16.09% during the forecast period, i.e., 2025-30. Contact: MarkNtel AdvisorsOffice No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, IndiaContact No: +91 8719999009Email: sales@ our Website: Source: Logo: View original content to download multimedia: SOURCE MarkNtel Advisors
Epoch Times
21-04-2025
- Business
- Epoch Times
India Imposes 12 Percent Tariff on Some Steel Imports
India levied a new 12 percent tariff on some steel imports on April 21 amid a recent surge in cheap Chinese steel products. The Indian Ministry of Finance announced that the tariffs would apply to five different categories of steel products. The notice stated that these import taxes would stand for the next 200 days, unless the Finance Ministry otherwise revokes or amends the order within that time frame. These tariffs come as China has surged its production and export of cheap steel products in recent years. China remains the largest steel-producing nation in the world. According to a January India remains a distant second, producing 149 million metric tons of steel last year. Japan, the third largest steel producer, produced 84 million metric tons of steel in 2024, while the fourth largest, the United States, produced 79.5 million metric tons, according to the World Steel Association data. Related Stories 4/3/2025 4/21/2025 Indian Heavy Industries Minister H.D. Kumaraswamy cheered the new tariffs as a means of defending his country's steel industry. 'I welcome the 12% safeguard duty on imported steel flat products,' Kumaraswamy wrote in a Countries around the world have been reevaluating their tariff schedules in recent months, as U.S. President Donald Trump has pushed for a rebalancing of trade relations between the United States and the rest of the world. Trump announced a new global tariff U.S. Vice President JD Vance 'Vice President Vance and Prime Minister Modi welcomed significant progress in the negotiations for a U.S.–India Bilateral Trade Agreement and formally announced the finalization of the Terms of Reference for the negotiations, laying down a roadmap for further discussions about our shared economic priorities,' Vance's office said in a statement on Monday afternoon, as the vice president concluded a visit to Modi's residence. The vice president's office said the emerging agreement presents a chance to enhance bilateral trade and create jobs 'in a balanced and mutually beneficial manner.' Modi's office
Hi Dubai
09-04-2025
- Business
- Hi Dubai
EMSTEEL Named 2025 Steel Sustainability Champion for Second Consecutive Year
EMSTEEL has been honoured as a 2025 Steel Sustainability Champion by the World Steel Association (worldsteel), marking its second consecutive win in the Middle East and North African region. The prestigious accolade, presented at the worldsteel Special General Meeting in Sydney, Australia, is part of the Steelie Awards, recognising companies that show exceptional commitment to sustainable practices in the steel industry. The recognition highlights EMSTEEL's continued efforts in sustainability, particularly in 2024, where the company made notable strides in reducing its Scope 1 and Scope 2 emissions intensity by 23%. By the end of 2023, EMSTEEL's total Scope 1 and Scope 2 emissions had reached 4.5 million tonnes of CO₂, underscoring the company's significant progress toward achieving net-zero emissions. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, expressed pride in the achievement, stating, 'Being named a worldsteel Sustainability Champion is a true honour and a reflection of the dedication and hard work of everyone at EMSTEEL. It reinforces our commitment to driving the transition towards a low-carbon future, not just for the steel industry, but for the entire global industrial landscape.' He further emphasized EMSTEEL's pioneering role in decarbonising the sector, noting, 'As the first steelmaker in the world to capture part of its CO₂ emissions, we operate with 45% less carbon intensity than the global average and are excited to continue our efforts in decarbonising this hard-to-abate sector and its downstream supply chain.' This recognition solidifies EMSTEEL's leadership in sustainability and its ongoing efforts to pave the way for a greener future in steel manufacturing. News Source: Emirates News Agency
