Steel companies reported weak earnings in the second quarter of 2022-23 due to the impact of export duties on realisations. Companies like SAIL and JSW Steel reported net losses whereas Tata Steel and Jindal Steel and Power saw over 70% y-o-y decline in net profits. Iron ore producer NMDC reported a 62% y-o-y decline in net profit. In May, the government imposed export duties on steel and iron ore and removed import duties on coking coal and