Top Indian Metal & Energy Industry News & Updates - 28 Jan 2026,Wednesday
Govt. Policy / Industry
India-EU trade pact positive for metal companies
Earnings headwinds persist for JSW Energy after weak Q3 performance
India-EU FTA provides no escape from CBAM taxes for steel, aluminium
Energy sector has $500 billion investment potential: PM Narendra Modi
📝 India to stop setting annual clean energy tender targets: Official
📝 India a key driver of global energy demand: UAE minister
📝 'If Canada wants to be an energy superpower, we need to be trading with India,' says Canadian Energy Minister
📝 Sultan Ahmed Al Jaber pitches UAE as India's 'dependable' energy supplier
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Iron & Steel
Maithan Steel celebrates 25 years of growth and trust at Jashn-E-Maithan 2026
Global steel production dips 2% in 2025
📝 Mild steel prices expected to rise by ₹2,000 per tonne by February: Enlight Metals CEO
📝 India-EU FTA to boost steel trade, low-carbon cooperation: Indian Steel Association
📝 India hopeful of preferential treatment for its steel exports under EU's new regulations
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Aluminium & Copper
Hindalco announces Rs 21,000-cr aluminium smelter expansion in Odisha
Hindalco announces Rs 21,000 cr expansion of Odisha ops
The Financial Express
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Gold / Silver & Bullion
Gold soars to all-time high ahead of 'mother of all deals' India-EU free trade agreement
Amid the ongoing India-EU free trade agreement, Gold and silver prices hit all-time highs on Tuesday, driven by a weak US dollar and anticipation of US Federal Reserve rate cuts. MCX gold February futures jumped 1.48% to Rs 1,58,343 per 10 grams, while silver March futures surged 6.56% to Rs 3,56,670 per kg.
📝 EU FTA offers fresh hope to tariff-hit gem & jewellery exporters
📝 India-EU FTA to double gems, jewellery trade to $10 billion in next three years: GJEPC
📝 PC Jeweller Q3 Results: Profit jumps 28% to Rs 190 crore on higher revenue amid festive demand
📝 Gold at ₹1.59 lakh per 10 gm: Jewellers halt purchases as sales fall 70%
📝 Silver futures hit record Rs 3.59 L/kg; gold scales new peak Rs 1.59 L/10g
📝 Elimination of import duties on Indian gem and jewellery products under FTA removes 2-4% duties on precious jewellery
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Oil & Gas / OMCs
ONGC floats tender for western offshore oilfields TSP, excludes Mumbai High
State-owned Oil And Natural Gas Corporation (ONGC) has floated a tender seeking a technical service provider (TSP) for its western offshore oilfields, excluding the Mumbai High field, where UK-based bp plc has already been appointed, the company’s director (production) Pankaj Kumar said on Tuesday.
$500-bn opportunities in energy sector: PM
India’s energy sector offers investment opportunities worth $500 billion, with plans to raise refining capacity beyond 300 million tonne per annum (MTPA), expand oil and gas exploration to 1 million square kilometre, and mobilise $100 billion in upstream investments by the end of this decade, Prime Minister Narendra Modi said on Tuesday.
Venezuelan crude may re-enter India’s basket as Russian supplies soften
India could again see Venezuelan crude flows in the range of 100,000–150,000 barrels per day, even as Russian crude imports remain lower and Middle Eastern grades continue to fill supply gaps, according to industry experts speaking on the sidelines of India Energy Week 2026.
India-Canada in talks to boost oil and critical mineral trade: Report
India and Canada are reportedly set to commit to boosting energy trade as their energy ministers meet, amid improving diplomatic relations between the two. According to a Bloomberg report, as part of the energy trade push, Canada will export more crude oil, Liquefied Petroleum Gas (LPG), and Liquefied Natural Gas (LNG), while India will ship a higher volume of refined oil to Canada.
Global oil demand to stay above 100 mbpd as India drives growth; underinvestment biggest risk: ADNOC CEO
Global oil demand will remain above 100 million barrels per day through 2040, while demand for LNG and electricity is set to grow by 50 per cent or more, Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, said at India Energy Week 2026, warning that underinvestment poses a greater risk to the energy system than oversupply.
India engages US, Venezuela to free OVL’s $580 mn dues
Amid shifting geopolitical equations following the recent US intervention in Venezuela, India has stepped up efforts to unlock nearly $580 million in stalled dividends of ONGC Videsh Ltd, underscoring the growing interplay between sanctions policy and India’s overseas energy investments, according to people familiar with the matter.
Canada to supply LNG, LPG, crude; India to export refined fuels
Source Credit: Rakesh Kumar, New Indian Express
New Delhi: Canada will supply liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil to India, while India will export refined petroleum products to Canada, according to the Canada–India Ministerial Energy Dialogue held on Tuesday.
ONGC scouts technical service provider for western offshore fields to boost output
📝 India targets $100 bn oil and gas investments by decade-end: Modi
📝 India saves $19.3 bn in forex via ethanol blending; eyes 100 GW nuclear by 2047: Puri
📝 HPCL seeks Venezuelan crude to boost heavy oil runs
📝 Indian Oil to Raise Brazilian Crude Purchases as Russian Imports Slow
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Coal / Mining
Vedanta to sell 6.7 crore Hindustan Zinc shares worth Rs 4,872 crore via Offer for sale
Mining major Vedanta is selling 1.59% of its stake in the subsidiary, Hindustan Zinc. In an exchange filing, the company said it will offload 6,70,00,000 equity shares of Hindustan Zinc through an offer for sale on the stock exchange mechanism.
📝 Export duty on low-grade iron ore may hit mining operations in Goa, claim stakeholders
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Power
📝 MP govt to sign three agreements for generating 4,000 MW of thermal power
📝 GIP shortlists 4 companies for Vena Energy India sale
📝 CG Power and Industrial Solution profit rises 19% to ₹284 crore in Q3
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Renewable Energy
📝 Tata Power Renewables reaches 10 GW projects execution milestone
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