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U.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over faltering local demand and threats of even stronger blowback against China's surging exports. The state-backed China Metallurgical Industry Planning and Research Institute (MPI) forecasts a 1.7% drop in China's steel demand this year, following a 3.3% decline in 2023. While China's steel exports last year climbed more than a third to their highest since 2016 at 90.26 million metric tons, about 9% of its total crude steel output, just 598,000 tons of the shipments went to the United States. ....
But experts and industry executives are divided on whether India could return to being a net exporter of steel as domestic demand dampens in the runup to and during the national election ....
India considers incentives and policy prescriptions to tackle carbon taxation challenges, including Europe s CBAM. Recommendations from 13 task forces on decarbonizing the steel sector will be compiled into an integrated document and floated for stakeholder consultations. The document will suggest investment incentives like concessional finance and long tenure loans to ensure a level playing field among domestic steel makers. ....
Provisional data as provided by the Government of India showed that China emerged as the top exporter of finished steel to India. India imported 2.9 million tonnes of completed steel from April to September, a 13.4% increase from the same period last year. The exported products to India include cold- rolled coil or sheets, hot-rolled coil products, plates, and pipes, among others. ....