It seems all the fears expressed by Indian steelmakers and policymakers are coming true. There just seems to be no stopping the flood of cheap steel imports into domestic markets, a problem that continues to cause great agony for Indian steel manufacturing leaders. India became a net importer of steel in the first quarter of FY25 April to June, with steel imports exceeding exports by approximately 0.6 million tons MT.
A group led by the Institute of Minerals and Materials Technology IMMT recently evinced interest in piloting this initiative using a 100% hydrogen-based DRI production method. According to the reports, the Indian Steel Ministry will partially support the project.However, experts project that the market for DRI gas and coal-based will grow by 5% to 54 MT compared to the last fiscal year.
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