India Steel

1. Indian steel companies plan to raise prices of various grades of the alloy due to rising import costs of coking coal.
   1.  Australia accounts for over 50% of its coking coal imports of around 55-60 million metric tonne a year.
   2. India also meets its coking coal requirements by importing from Russia and the United States.
2. India surpassed Japan as the second largest steel producer in 2019 and is the 2^nd largest consumer of finished steel (China is the largest producer of steel accounting for 54% of the world steel production in 2022).
3. There are two types of steel plants - mini steel plants and integrated steel plants.
4. About 50% of the country's steel is produced by medium and small enterprises.
5. In the year 2022-23, India witnessed the export of 72 million tonnes (MT) of finished steel, while importing around 6 MT.
6. Green steel: it is the steel manufactured by using renewable sources such as renewable or low-carbon energy sources such as hydrogen, coal gasification or electricity instead of traditional carbon-intensive manufacturing route of coal-fired plants.