Alexander Becker, the head of renowned steel manufacturer Georgsmarienhütte, has raised a poignant critique against the German government's decision to retract a planned €5.5 billion subsidy for electricity network fees.

¡°We did not agree to this arrangement, nor do we have any information about the financial wherewithal of this holding company to actually stand behind all of the obligations of our existing agreements,¡± asserts the USW in its statement.

Highlighting their dedication to eco-friendly practices, SteelAsia reveals that approximately 80% of its energy requirements are sourced from geothermal power.

At the Vibrant Gujarat Global Summit, Lakshmi N Mittal, ArcelorMittal's Chairperson, praised the event's structure rooted in innovation and continuity.

The debut of the Steel Standards Principles at COP28 heralded a seismic shift in the steel industry's stance toward decarbonization. Orchestrated by global entities, these principles underscored the industry's crucial role in greenhouse gas emissions.

Supply chain growth, green shift, tech edge, market expansion are big factors.

Finished Import Market Share YTD at 21%

In the week ending on January 6, 2024, domestic raw steel production was 1,707,000 net tons while the capability utilization rate was 76.9 percent.