Restricting scrap exports is becoming a popular policy tool considering limited scrap availability and increasing demand for scrap amid decarbonization of steel industry. As of March 2025, 48 countries globally have introduced 75 restrictions on scrap exports.
In January-February 2025, the European Union reduced imports of direct reduced iron (DRI) by 30.9% compared to the same period in 2024, to 408.14 thousand tons. This is according to GMK Center’s calculations based on Eurostat data.
In March 2025, French steelmakers increased steel production by 10.4% compared to March 2024, to 921 thousand tons. Thus, the country has risen to 18th place in the global ranking of steel-producing countries (69) by the WorldSteel Association.
Indian Prime Minister Narendra Modi urged the domestic steel industry to find alternatives for the key steel making raw material coking coal and reduce its import dependency in a virtual address during India Steel 2025 conference on April 24.
28 Apr, 2025 - Special Correspondent
South Korean major POSCO, in collaboration with JSW Steel, will also be setting up a steel plant in the state, with an investment of Rs 35,000 – Rs 40,000 crore in the first phase, Majhi told ET in an exclusive interaction. This will mark POSCO’s return to the state after its failed attempt
28 Apr, 2025 - Special Correspondent
India is encouraging companies to acquire iron ore, coking coal, and other key raw material assets overseas, Steel Secretary Sandeep Poundrik said on Saturday, as the country ramps up its steelmaking capacity to meet rising demand.
28 Apr, 2025 - Special Correspondent
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