Top Indian Metal & Energy Industry News & Updates - 12 March 2026,Thursday
Govt. Policy / Industry
📝 Reliance funds for first US refinery in 50 years, says Trump; RIL mum on '$300 billion deal' claim
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Iron & Steel
Jindal Steel declared preferred bidder for Thakurani-A1 Iron ore block in Odisha
New Delhi/ Angul: Jindal Steel today announced a significant milestone in its strategic growth journey. The company was declared the preferred bidder by the Government of Odisha for the Thakurani-A1 Iron Ore Block, with an area of 202 Ha in Keonjhar, Odisha, after the conclusion of the online auction, committing to pay a 101.20 per cent Premium to the Government. The Thakurani-A1 Iron Ore Block was part of a recent auction round for 12 virgin mineral blocks notified by the Odisha Directorate of Mines and Geology in December 2025. The virgin block is G3-level explored with around 50 million tonnes of iron ore resources as per the Government document.
Steel Authority of India reports "best ever" sales in FY'26; Records total sales of 18.24 MT registering 14% YoY growth
According to the Ministry of Steel, SAIL achieved total sales of 18.24 million tonnes (MT) between April 2025 and February 2026. Alongside this volume growth, the company expanded its product portfolio through the reintroduction of chequered plates to meet specific market demands.
📝 SAIL clocks record sales in FY26 recording sales of 18.24 MT
📝 Arcelor Mittal, Nippon Steel invite EoI for steel fabrication unit in Andhra Pradesh
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Aluminium & Copper
📝 Copper heads south on stronger $, high energy price and Iran war
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Gold / Silver & Bullion
Gold, silver demand to stay strong amid world crises, macro risks: Reports
Gold price climbs ₹10 to ₹1,63,320; silver down ₹100, trading at ₹2,89,900
Gold declines ₹853 to ₹1.62 lakh/10g amid global bearish sentiment
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Oil & Gas / OMCs
Fitch: Indian OMCs, GAIL may face cash-flow pressure amid Iran tensions and oil price rise
Indian oil marketing companies (OMCs) and state-run GAIL (India) could face cash flow issues if supply disruptions continue amid the war in West Asia, elevated oil prices, and closure of the strategic Strait of Hormuz, according to Fitch Ratings.
India ready to support oil markets after IEA agrees for record release
India said on Wednesday it was ready to support global oil markets in line with the International Energy Agency's release of a record 400 million barrels of oil to try to rein in prices that have soared following the US-Israeli war with Iran.
Oil prices jump over 6% despite IEA move to release 400 million barrels of crude amid US-Iran war; Brent back above $90
Oil prices rise as supply fears linger despite IEA reserve release plan
Iran conflict may pressure cash flows of OMCs, GAIL: Fitch Ratings
India's Russian oil purchases helping stabilise markets: US ambassador
High oil prices may intensify pressure on Indian oil companies: Moody's
India crude supplies secure, govt has stepped up fuel management: Official
IOC, BPCL, HPCL could see margin pressure amid oil price spike: S&P
Adani Total Gas soars 18% on heavy volumes in weak market; here's why
West Asia war updates: India says no fuel shortage; Trump warns on Hormuz
Reliance to invest in new Texas refinery: Trump announces $300-bn deal
US President Donald Trump has announced a new refinery in Brownsville, Texas, thanking India’s private sector refining giant Reliance Industries Limited (RIL) for its “tremendous investment” for the project. According to Trump, the Brownsville refinery, the first new refinery in the US in five decades, entails a $300-billon deal.
📝 IEA to release record 400 million barrels of oil from stockpiles
📝 India buys 30 million barrels of Russian oil after US waiver
📝 West Asia crisis: Bangladesh seeks increased diesel supply from India amid energy strain
📝 ‘Committed to India’s Energy Security’: Reliance to maximise LPG output at Jamnagar complex
📝 FPI holdings in FAR G-Secs fall by Rs 4,634 cr amid Middle East conflict
📝 India urges calm on LPG supply as Iran war disrupts imports and energy shipping
📝 India’s Russian oil buy rises 50% in March amid supply shortfall
📝 Iran war has blocked the Strait of Hormuz, a vital oil choke point. Reopening it is a big challenge
📝 Daily domestic LPG output raised by 25%: Petroleum ministry official
📝 Oil prices climb as tankers are attacked in Iraqi waters amid West Asia conflict
📝 Oil prices plunge to $87.8 per barrel as IEA eyes emergency release with Strait of Hormuz in focus
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Opec
📝 OPEC confirms big Saudi oil production hike in Feb ahead of Iran war, holds forecasts steady
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Coal / Mining
CIL pithead stock rises to 121 MT; thermal plants hold 54 MT coal
India’s coal inventories have surged to record levels with pithead coal stock at Coal India Ltd (CIL) mines rising from 106.78 million tonnes (MT) on April 1, 2025 to 121.39 MT as of March 9, 2026, reflecting robust production and supply growth across the sector, the Ministry of Coal said on Wednesday.
Govt fully geared to meet coal demand surge amid West Asia crisis
📝 India has overall coal stock of 88 days, confident of meeting rise in demand: Ministry
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Renewable Energy
Adani Energy raises $500 mn bilateral debt from Apollo Global Management
A unit of Adani Group raised about $500 million through a bond privately placed with funds managed by Apollo Global Management Inc., according to people familiar with the matter, highlighting the Indian conglomerate’s ongoing effort to tap funding outside the public dollar bond market.
Waaree Renewable shares advance 7% on 300 MW solar EPC contract
GREW Solar gets ₹500 cr module supply order
📝 KKR eyes multiple, independent green assets in India
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Nuclear Energy
India's nuclear energy mission: ₹20,000 crore provision, BARC to deploy rectors, 100 GW capacity goal
HTGCR: In principle approval has been received for the project. Detailed Project Report (DPR) has been prepared. Siting consent has been received and Terms of Reference (ToR) for obtaining environmental clearances has been received from Ministry of Environment, Forest and Climate Change (MoEF&CC).
📝 India imported over 18,800 MT of uranium for reactors between 2008-25: Govt
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International
📝 Shell declares force majeure to clients who buy Qatari LNG
📝 Aluminium rallies, focus on supply disruptions
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