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COVID-19 cut carbon emissions but not enough to dent global warming

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The lockdown-related fall in emissions is just a tiny blip on the long-term graph. We need a sustained flattening of the curve – WMO Secretary-General Petteri Taalas.

Many eagerly awaited to know the impact of the novel coronavirus disease (COVID-19) pandemic on the climate. Did the widespread shutdowns and drastic reduction in industrial activities lead reduced greenhouse gas (GHG) emission?

According to preliminary estimates by the World Meteorological Organization (WMO), the annual global carbon dioxide (CO2) emission reduced 4.2-7.5 per cent in 2020.

WMO?? Global Carbon Project has estimated that ??uring the most intense period of the shutdown, daily CO2 emissions may have been reduced by up to 17 per cent globally due to the confinement of the population??

But there is not much to cheer about: WMO calls it a blip on the planet?? uncontrolled emission scenario.

According to the estimate report:

At the global scale, an emissions reduction at this scale will not cause atmospheric CO2 to go down. CO2 will continue to go up, though at a slightly reduced pace (0.08-0.23 ppm per year lower).

The natural inter-annual variability in CO2 emission is 1 part per million (ppm). It means the impact of the pandemic on CO2 reduction is not significant and not even higher than the natural variability figure.

??his means that on the short-term the impact of the COVID-19 confinements cannot be distinguished from natural variability,??according to WMO.

The Earth?? atmosphere has a heavy concentration of GHGs including CO2. The temporary reduction in emission due to the pandemic would not curb global warming and resultant climate change.

Rather, the GHG emission would continue to rise in 2020 as well. Last year the global average of CO2 crossed the threshold of 410 ppm.

Taalas said:

Carbon dioxide remains in the atmosphere for centuries and in the ocean for even longer. The last time the Earth experienced a comparable concentration of CO2 was 3-5 million years ago, when the temperature was 2-3?C warmer and sea level was 10-20 meters higher than now. But there weren?? 7.7 billion inhabitants.

More to it, it took just four years for the level to cross this threshold from 400 ppm in 2015. ??uch a rate of increase has never been seen in the history of our records. The lockdown-related fall in emissions is just a tiny blip on the long-term graph. We need a sustained flattening of the curve,??the WMO secretary-general added.

??he annual globally averaged level of carbon dioxide was about 410.5 parts per million (ppm) in 2019, up from 407.9 parts ppm in 2018, having crossed the 400 parts per million benchmark in 2015. The increase in CO2 from 2018 to 2019 was larger than that observed from 2017 to 2018 and also larger than the average over the last decade,??according to the WMO bulletin.

Source: Down to earth, Monday 23 November 2020 by Richard Mahapatra

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Jefferies’ Optimism Fuels Cement Stock Rally

The industry is aiming price hikes of Rs 10-15 per bag in December.

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Cement stocks surged over 5% on Monday, driven by Jefferies’ positive outlook on demand recovery, supported by increased government capital expenditure and favourable price trends.

JK Cement led the rally with a 5.3% jump, while UltraTech Cement rose 3.82%, making it the top performer on the Nifty 50. Dalmia Bharat and Grasim Industries gained over 3% each, with Shree Cement and Ambuja Cement adding 2.77% and 1.32%, respectively.

“Cement stocks have been consolidating without significant upward movement for over a year,” noted Vikas Jain, head of research at Reliance Securities. “The Jefferies report with positive price feedback prompted a revaluation of these stocks today.”

According to Jefferies, cement prices were stable in November, with earlier declines bottoming out. The industry is now targeting price hikes of Rs 10-15 per bag in December.

The brokerage highlighted moderate demand growth in October and November, with recovery expected to strengthen in the fourth quarter, supported by a revival in government infrastructure spending.
Analysts are optimistic about a stronger recovery in the latter half of FY25, driven by anticipated increases in government investments in infrastructure projects.
(ET)

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Steel Ministry Proposes 25% Safeguard Duty on Steel Imports

The duty aims to counter the impact of rising low-cost steel imports.

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The Ministry of Steel has proposed a 25% safeguard duty on certain steel imports to address concerns raised by domestic producers. The proposal emerged during a meeting between Union Steel Minister H.D. Kumaraswamy and Commerce and Industry Minister Piyush Goyal in New Delhi, attended by senior officials and executives from leading steel companies like SAIL, Tata Steel, JSW Steel, and AMNS India.

Following the meeting, Goyal highlighted on X the importance of steel and metallurgical coke industries in India’s development, emphasising discussions on boosting production, improving quality, and enhancing global competitiveness. Kumaraswamy echoed the sentiment, pledging collaboration between ministries to create a business-friendly environment for domestic steelmakers.

The safeguard duty proposal aims to counter the impact of rising low-cost steel imports, particularly from free trade agreement (FTA) nations. Steel Secretary Sandeep Poundrik noted that 62% of steel imports currently enter at zero duty under FTAs, with imports rising to 5.51 million tonnes (MT) during April-September 2024-25, compared to 3.66 MT in the same period last year. Imports from China surged significantly, reaching 1.85 MT, up from 1.02 MT a year ago.

Industry experts, including think tank GTRI, have raised concerns about FTAs, highlighting cases where foreign producers partner with Indian firms to re-import steel at concessional rates. GTRI founder Ajay Srivastava also pointed to challenges like port delays and regulatory hurdles, which strain over 10,000 steel user units in India.

The government’s proposal reflects its commitment to supporting the domestic steel industry while addressing trade imbalances and promoting a self-reliant manufacturing sector.

(ET)

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India Imposes Anti-Dumping Duty on Solar Panel Aluminium Frames

Move boosts domestic aluminium industry, curbs low-cost imports

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The Indian government has introduced anti-dumping duties on anodized aluminium frames for solar panels and modules imported from China, a move hailed by the Aluminium Association of India (AAI) as a significant step toward fostering a self-reliant aluminium sector.

The duties, effective for five years, aim to counter the influx of low-cost imports that have hindered domestic manufacturing. According to the Ministry of Finance, Chinese dumping has limited India’s ability to develop local production capabilities.

Ahead of Budget 2025, the aluminium industry has urged the government to introduce stronger trade protections. Key demands include raising import duties on primary and downstream aluminium products from 7.5% to 10% and imposing a uniform 7.5% duty on aluminium scrap to curb the influx of low-quality imports.

India’s heavy reliance on aluminium imports, which now account for 54% of the country’s demand, has resulted in an annual foreign exchange outflow of Rupees 562.91 billion. Scrap imports, doubling over the last decade, have surged to 1,825 KT in FY25, primarily sourced from China, the Middle East, the US, and the UK.

The AAI noted that while advanced economies like the US and China impose strict tariffs and restrictions to protect their aluminium industries, India has become the largest importer of aluminium scrap globally. This trend undermines local producers, who are urging robust measures to enhance the domestic aluminium ecosystem.

With India’s aluminium demand projected to reach 10 million tonnes by 2030, industry leaders emphasize the need for stronger policies to support local production and drive investments in capacity expansion. The anti-dumping duties on solar panel components, they say, are a vital first step in building a sustainable and competitive aluminium sector.

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