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Peak XV’s Shailendra Singh plans to ‘double the dollars’ deployed this year
...Miniso’s plans reflect how China’s companies are seeking growth overseas as the country struggles to boost domestic demand....
...company’s full-year results, chair Takahiro Mori acknowledged that the deal had become heavily politicised but said there while dialogue would continue with the steelworkers’ unions there were currently no plans...
...The union plan “presents significant financial, operational and safety challenges, and delays the transition to green steel by two years”, said Rajesh Nair, Tata Steel chief executive....
...Britain’s two largest steelmakers, British Steel and Tata Steel UK, have both announced plans to use much more scrap steel as they close their blast furnaces and replace them with electric arcs....
...Joe Biden plans to intervene in Nippon Steel’s proposed purchase of US Steel, a move that could threaten the deal and anger Japan, one of Washington’s closest allies....
...The Westminster government should learn from proven, effective approaches from as far afield as Germany, or as close to home as Wales, which are both reaping the benefits of well-structured recycling systems...
...JSW and SAIC’s new JV will benefit from the Indian government’s move last week to cut import tariffs on higher-priced imported EVs for companies that invest in local production....
...The government’s infrastructure push helps capital-intensive sectors such as steel....
...Analysts from Westpac, the Australian bank, said that steel industry exports have been an important “release valve” for overcapacity, noting that China is approaching record levels from 2015 in steel exports...
...Exhibit A: Nippon Steel’s $14.9bn takeover offer for US Steel....
...Capacity for nickel pig iron, which is used to make stainless steel, is projected to expand by up to 15 per cent in three years from the current 1.9mn tonnes, he added....
...provider Benefit One....
...Last year, the family-owned Danish company ditched its plan to substitute oil-based plastics for recycled materials in its world-famous bricks....
...all benefit from significant investment, but there is a lot of political influence involved.”...
...That’s the plan — though you wouldn’t know it from the furore around UK steel in recent weeks....
...There may be downstream benefits, as well. As productivity increased and US Steel prices fell, the incentive facing domestic manufacturers to import steel from abroad would reduce....
...This ~$1B capex was introduced into the formal plan with 3Q23 earnings when the five-year capital program increased +$2B to $16-17B 2024-2028 vs $14-15B 2023-2027....
...China’s leaders plan to ease monetary policy, lowering bank reserve requirements and interest rates — as they made clear following the Politburo meeting at the end of last month....
...During a visit last month to Pennsylvania — a swing state in November’s election — Biden said he wanted the agency to triple tariffs on Chinese steel and aluminium....
...Thyssenkrupp Steel alone is set to receive €2bn from federal and local authorities for its green steel plans....
...Nippon Steel’s effort to take over US Steel is currently being blocked by the Biden administration....
...But US Steel hasn’t been that US Steel for more than half a century....
...“The benefits are multilateral....
...On Wednesday, Joe Biden said he would triple tariffs on Chinese steel imports — a pure election gimmick since they only cover 0.6 per cent of total US steel demand....
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