DGAD imposes definitive ADD on 47 steel products from China and 5 other countries
The Dollar Business Bureau India imposes definitive anti-dumping duty(ADD), effective for 5 years on 47 products of alloy or non-alloy steel from China PR, Japan, Korea RP, Russia, Brazil and Indonesia. The duty imposed carried a minimum price of $478/ metric tonne to a maximum amount of $561/metric tonne. The ADD would be effective from the date of imposition, April 8, 2017 as notified in the DGAD notification no- 17/2017 dated 11/05/2017. Of the total steel imported in India during 2015-16 the imports of hot rolled and cold rolled coils was 47% and with the imposition of duty it came down to 36%. Now with the latest notification of the government of extending the anti-dumping duties to hot rolled and cold rolled flat ...
India's crude steel output grew by 10.7% during Jan-Mar 2017
The Dollar Business Bureau The World Steel Association (WSA) released a report with statistics of crude steel production across the globe. India is reported to have grown its crude steel production by 10.7%, to 25.76 million tonnes (mt) in the first quarter of 2017 from 23.26 mt in the same period during 2016. Specifically for the month of March, India's crude steel production of 9 mt showed a 8.2% year on year growth from 8.31 mt of production in March 2016. The month-on-month growth is pegged at 11.11%, with respect to February 2017 output of 8.1 mt. India outshined the top two economies of Asia, China and Japan, in terms of growth in crude steel output for this quarter. In terms of quantity, India lags far behind China which produced 71.99 mt of crude steel during March 2017. But the country managed to surpass ...
India's steel exports rise three-fold in January 2017
The Dollar Business Bureau India's steel exports in January 2017 stood at 0.889 million tonnes (mt), which is three times higher than January 2016 exports of 0.274 mt. In the period April-January of the fiscal year 2016-17, steel exports have been valued at 5.865 mt, registering a growth of 71%. The 224% increase in January exports of steel is commendable. This huge improvement comes amid earnest efforts by the government to protect local steel manufacturers from dumping by neighbouring country China. Imposition of anti-dumping duty on steel has been a decisive move in this direction. The Ministry of Steel is also intent on fostering local steel production, as demonstrated by its ambitious goal of taking annual indigenous steel capacity to 300 mt by fiscal 2030-31, from 122 mt in 2015-16. During the first ten months of 2016-17, the import of finished steel has also ...
Indias steel output rises 6% in first nine months of this year
The Dollar Business Bureau Steel production in India rose by around 6% to 71.09 million tonnes during the period January-September this year, even as the world output contracted by 0.5% to around 1.19 billion tonne. Asia was the only region where output of steel witnessed an upward trend, as per the recent data by World Steel Association. “In the first nine months of 2016, Asia produced 825.9 million tonnes of crude steel, an increase of 0.6% over the first three quarters of 2015,” World Steel Association said in a statement. The European Union (EU) has recorded a production of 121.3 million tonnes of crude steel during the first nine months of this year, a decline of 4.8% year-on-year, whereas North America produces 83.9 million tonnes of the ...
Indias steel production up by 2.6% amid global decline
The Dollar Business Bureau While global crude steel production declined by 2.8% in 2015, for the first time since 2009, India’s steel output increased by 2.6% to 89.6 million tonnes during the year, according to World Steel Association report. “India’s crude steel production for 2015 was 89.6 million tonnes, up by 2.6% on 2014. China’s crude steel production in 2015 reached 803.8 million tonnes, down by -2.3% on 2014,” the report said. Crude steel output of China, the world’s largest steel producer and consumer, declined by 2.3% to 803.8 million tonnes last year from 2014. India remained the only country among major steel producers including China, Japan, South Korea and the US that registered a positive trend in steel production and consumption last year. In 2015, ...
