EU approves Nippon's US Steel takeover despite Biden's opposition

Chinese Firms Exit Romania Solar Tender

Chinese firms have withdrawn from a solar tender in Romania following an investigation by the European Union (EU). The tender, which aimed to expand solar energy capacity in Romania, has seen the exit of several major Chinese players due to concerns raised by the EU.

The move comes amidst increasing scrutiny on foreign investment in critical infrastructure sectors across Europe, particularly in renewable energy. The EU's investigation into the Romanian solar tender reflects growing concerns over potential security risks associated with foreign involvement in vital energy projects.

EU's Carbon Tax to Minimally Affect Indian Aluminium Exports: ICRA

The implementation of the Carbon Border Adjustment Mechanism (CBAM) by the European Union, aimed at taxing carbon emissions in imports, is anticipated to have a limited impact on India's primary aluminium producers, as per a report by credit rating agency ICRA.

CBAM, adopted by the EU in May 2023 to combat climate change, will levy taxes on imports from six sectors, including aluminium. However, the regulation focusing solely on direct emissions from the production process, starting January 1, 2026, is expected to minimize its effect on Indian exports to the EU, excluding indirect em..

Indian steel exports show EU resurgence

Indian steel mills are strategically managing export offers, demonstrating a cautious approach in South-East Asia during December. However, amid this trend, positive signs emerge in the European Union (EU) market, indicating a potential upswing for the Indian steel industry.

While export offers to South-East Asia are being held back, possibly in response to market dynamics or strategic considerations, the EU presents a contrasting picture. The resurgence in demand from the EU is seen as a promising development, offering a silver lining for Indian steel exporters.

The decision t..

Jindal Stainless Fuels Vande Metro

Jindal Stainless Ltd has made headlines by supplying high-strength stainless steel for the Vande Metro trains, set to launch in July. The company's shares surged 4.63%, closing at ?711.40 on the BSE, raising its market cap to ?58,579 crore. The 201LN stainless steel used in the train coaches is lightweight, energy-efficient, and highly durable, ensuring enhanced safety and corrosion resistance. This development marks a significant contribution to India's railway sector, promising improved passenger experience on shorter routes up to 250 km.

The Vande Metro trains, designed for short-di..

Q4 profit: Jindal Stainless reports a 34.6% fall

On account of lower steel prices and weak international demand, India's Jindal Stainless reported a 34.6% fall in fourth-quarter profit.

The country's biggest stainless steel maker by volumes posted a consolidated net profit of $60 million for the quarter end. Despite robust demand for steel from the construction and automotive sectors of one of the world's fastest-growing economies, manufacturers have been grappling with the impact of declining steel prices.

At the conclusion of the quarter, the nation's largest producer of stainless steel by volume reported a combined net..