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08 Mar
14:17

Russia sanctions to raise Indian production costs: ICRA

Economic sanctions on Russia are expected to reduce raw materials supply and thus raise prices, ultimately putting Indian steel mills under cost pressure, says credit rating agency ICRA. However, it will open new opportunities for Indian steel exports to geographies like Europe, the Gulf Cooperation Council, and the US. Russia is a key global supplier for many steelmaking feedstocks including ferroalloys and coking coal. Russian coking coal and ther…
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