Amruta Khandekar

European stocks ended higher on Tuesday buoyed by strength in financial and energy sectors, while investors turned their focus to upcoming interest rate decisions from global central banks, including the U.S. Federal Reserve.

India's ministry of steel has issued an order stating raw materials used in imported finished steel products should meet Indian quality standards.

The Indian steel ministry has granted exemptions to 72 overseas integrated steel plants, including Japanese, South Korean and Russian producers, from the new steel input quality rules for imports.

At least one Indian steelmaker has been informed by the European Commission that it will be subject to an anti-dumping (AD) investigation on cold-rolled coil (CRC) imports into the bloc.

India's secondary steel sector, where scrap and direct-reduced iron (DRI) are key feedstocks, accounts for over 40pc of the country's overall steel production capacity. The sector is poised to grow as India aims to achieve a capacity of 300mn t/yr of crude steel by 2030 and push for greener pathways.

India's secondary steel manufacturers are subject to unfair taxes if domestic scrap suppliers default on payments, hindering the availability and use of scrap in local steel production, participants at a major industry event said.

A vaccine for COVID-19 will help Medtronic Plc reach pre-pandemic growth levels by fiscal fourth quarter, Chief Executive Officer Geoff Martha told Reuters on Tuesday.

India's state-controlled producer Steel Authority of India (Sail) aims to double steelmaking capacity at its Rourkela plant in eastern India's Odisha state to 9.8mn t/yr by 2030, the steel ministry said.

Domestic Indian hot-rolled coil prices started 2025 on a strong note, but extended monsoons and abundant supply resulted in a steady decline from May, pushing prices below levels seen at the start of the year.