SAIL anticipates 4 Russian coking coal ships in Q3

29 Sep 2023 CW Team

Amarendu Prakash, Chairman, Steel Authority of India (SAIL), informed that the company was expecting four ships of coking coal from Russia in the September quarter, each with a capacity of 75,000 tonne. He mentioned that similar shipments had occurred in the first quarter (April-June). Additionally, Prakash revealed that the company was actively working on doubling coking coal production capacity in the International Coal Ventures (ICVL) at Mozambique, which currently stands at 2 million tonnes per annum. SAIL holds approximately 48% stake in this joint venture, as per its latest annual report. Addressing the challenges faced by the company, Prakash stated that the on-going high prices of coking coal were directly impacting the company's margins. He also expressed concerns about Europe's carbon tax mechanism, which would further increase the cost of Indian steel exports to Europe. To mitigate these challenges, he informed that the Indian government was in the process of developing local taxation rules and fiscal incentives to counterbalance the impact of these developments. Moreover, Prakash discussed the introduction of the carbon border adjustment mechanism (CBAM), a pioneering initiative worldwide. He mentioned that starting next month, importers of goods into the European Union would be required to report the emissions embedded in their products. Importers of steel goods would have to pay for these emissions in their shipments from 2026, a move that India planned to challenge at the World Trade Organization (WTO).

Real Estate

03 Apr 2026

Loomcraft Enters South India with Kerala Store Launch

Loomcraft has launched its exclusive store in Kerala, marking its entry into South India and a key step in its nationwide expansion strategy. The move targets a region driven by tourism and premium real estate demand, where outdoor spaces play a central role in hospitality and residential experiences.Kerala’s growing base of luxury resorts, boutique hotels, villas and gated communities has created strong demand for specialised outdoor furniture. However, the region has remained underserved, with buyers relying on imports or generic products not suited to humid, coastal and monsoon-heavy cond..

Mild Steel Prices Seen Rising to Rs 61,000 Per Tonne

Mild steel prices in India, currently around Rs 58,000 per tonne, are expected to rise to nearly Rs 61,000 per tonne in April, indicating an increase of about Rs 3,000 per tonne. The anticipated rise reflects structural pressures driven by geopolitical tensions, energy constraints and limited raw material availability.Ongoing global conflict has disrupted energy markets, leading to LNG shortages that are affecting domestic steel production. Small and mid-sized manufacturers, particularly those dependent on gas-based processes, are witnessing production cuts due to constrained energy supply, re..

Vedanta Expands Transgender Workforce to 75 Employees

Vedanta has strengthened its commitment to workplace inclusion by employing 75 transgender individuals across its businesses, including Vedanta Aluminium, Hindustan Zinc, Sesa Goa, FACOR and Cairn Oil & Gas. The initiative reflects sustained hiring efforts since 2022 to build equitable opportunities across operations, corporate and technical roles.Transgender employees are engaged in functions such as operations, finance, logistics, HR, CSR, healthcare and security, with provisions for internal mobility to support career progression. The company has implemented structured policies, includi..