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After decades of lying vacant, Pittsburgh’s former steel mill site Hazelwood Green is finally seeing major redevelopment. Since 2022, around 700,000 square feet has been developed or is under construction, including Carnegie Mellon’s robotics centre, Pitt’s BioForge facility, housing, parks and a football field. More technology, retail and housing projects are planned across the 178-acre riverfront site. View More
After decades of lying vacant, Pittsburgh’s former steel mill site Hazelwood Green is finally seeing major redevelopment. Since 2022, around 700,000 square feet has been developed or is under construction, including Carnegie Mellon’s robotics centre, Pitt’s BioForge facility, housing, parks and a football field. More technology, retail and housing projects are planned across the 178-acre riverfront site. View More
After decades of lying vacant, Pittsburgh’s former steel mill site Hazelwood Green is finally seeing major redevelopment. Since 2022, around 700,000 square feet has been developed or is under construction, including Carnegie Mellon’s robotics centre, Pitt’s BioForge facility, housing, parks and a football field. More technology, retail and housing projects are planned across the 178-acre riverfront site. View More
India's met coke imports are set to reach a record high this year. Domestic shortages and strong pig iron demand fuel higher overseas purchases. This rise occurs despite an anti-dumping levy imposed in July. Pig iron producers import met coke to avoid duties on exports. met coke prices increased significantly due to rising coking coal costs. View More
New Delhi: India's met coke imports are set to reach a record high this year despite an anti-dumping levy imposed in July, as domestic shortages and strong demand from pig iron producers fuel higher overseas purchases, executives said. India, the world's biggest crude steel producer after China, is expected to import around 6 million metric tons of met coke in the fiscal year that began in April, up 32% from a year earlier, mainly from Indonesia and Poland. The rise comes despite steelmakers opposing import restrictions for more than a year, arguing domestic production is insufficient to meet demand. Read more: Finance Ministry imposes anti-dumping duty on low ash met coke Reuters previously reported that the Union Ministry of Steel supported steelmakers by seeking the withdrawal of the anti-dumping duty. The government, nevertheless, imposed a five-year anti-dumping duty on met coke in July. Live Events Met coke is used in making pig iron, an intermediate product used to produce steel. Indonesia has become an increasingly important supplier, accounting for about 2.1 million tons of imports so far this year, up 165% from a year earlier, said an executive at a large steel firm, who was not authorised to speak publicly. Domestic coke output rose only about 6% year-on-year, below steel and pig iron demand, the executive said. Read more: India's steel ministry flags met coke shortage, seeks withdrawal of anti-dumping duty PIG IRON EXPORTS DRIVE IMPORTS Pig iron producers have been importing large quantities of met coke because they can avoid the import duty when the coke is converted into pig iron for export, the executives said. That exemption makes imported met coke cheaper than locally produced coke, they said. U.S. demand for Indian pig iron is strong this year and may double from 2025 levels, the executives said, adding that Indian pig iron has gained market share from Ukraine because of lower prices. Indian pig iron is cheaper by around $50 per ton, according to commodities consultancy BigMint. The U.S. imports around 4 to 5 million metric tons, with Brazil, Ukraine and India among its main suppliers. Reflecting the domestic shortfall, met coke prices rose 24% from a year earlier to 35,850 rupees ($375.63) per ton in August, according to BigMint data. "Met coke prices are increasing as a result of the rising coking coal prices," said Monica Bachchan Duvvuri, founder of Metalogic PMS, a steel and mining market intelligence firm. She added that met coke prices may go up by 3-4% this week. Reuters reported last week that steel prices were expected to rise further in the coming weeks partly due to high coking coal costs. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Compounding transforms ?30 lakh invested over 30 years into ?5.23 crore, with the first crore achieved after 13 years. Check how your investment, lump sum or SIP, jumps because of the power of compounding. View More
A ballistic missile strike hit ArcelorMittal Kryvyi Rih plant on Saturday. Two contractors were killed and two employees were injured in the incident. The plant's ironmaking area sustained damage from the missile strike. Primary steel production has been suspended while repairs are assessed. It remains too early to estimate when operations can resume. View More
Steelmaker ArcelorMittal said on Monday a ballistic missile strike hit its Ukrainian steel plant ArcelorMittal Kryvyi Rih on Saturday, killing two contractors and injuring two employees. The strike damaged the plant's ironmaking area and suspended primary steel production while the company assesses repairs, ArcelorMittal said, adding it was too early to estimate when operations could resume. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The combined quota is equivalent to about 68.4% of India’s 2.4 million tons of steel exports ?to the EU ?in 2025, up from 39.4% under the existing quota View More
India will export up to 1.64 million tons of steel annually to the European Union. This includes an additional preferential quota of 694,853 tons, enhancing market access. Shipments exceeding this quota will incur a 50% European Union tariff. Indian steel exports will still be subject to the EU's Carbon Border Adjustment Mechanism. The agreement's preferential quota is expected to become available by year end. View More
India will be able to export up to 1.64 million metric tons of steel a year to the European Union under a free trade agreement, but exporters will still face carbon-related costs, according to the legal text of the pact. The agreement provides India with an additional preferential quota of 694,853 tons of steel, on top of an existing 946,616-ton WTO quota. The combined quota is equivalent to about 68.4% of India’s 2.4 million tons of steel exports to the EU in 2025, up from 39.4% under the existing quota. The Indian steel industry is seeking 29-35% higher quotas across products from the EU, according to a steel note written by representatives of the steel industry and reviewed by Reuters. "India's total guaranteed country-specific quota under the agreement is smaller than its current total entitlement, putting the country in an unfavourable position with regard to market access," the note submitted to the trade ministry, which is handling the EU negotiations, said. Live Events India's trade ministry did not respond immediately to a request for comment. Steel shipments above the quota will be subject to the EU’s 50% tariff, according to an analysis by India-based think tank Global Trade Research Initiative (GTRI) of the legal text of the agreement, which was released on Friday and could still be revised. The preferential quota does not exempt Indian steel from the EU's Carbon Border Adjustment Mechanism, which applies to all steel imports, and which GTRI estimates could average around 35% of the value once fully phased in. Most of India’s quota is allocated to flat-steel products, with hot-rolled sheets and strips receiving the largest allocation of 509,605 tons. The additional quota will become available once the India-EU FTA enters into force, expected by year end, and will remain subject to product coverage, rules of origin and quota availability. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Tata Steel has stepped up its partnership with Lloyds Metals as it looks to secure access to key raw materials and strengthen its mining and steelmaking operations. View More