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 ...
Met Coke import offers shoot up, domestic prices to follow trend
The Dollar Business Bureau India’s Met Coke prices have continued to remain unchanged from the rates that prevailed in the previous week, with several market analysts projecting the prices to rise further in the near terms owing to an upswing in the global coking coal prices. The inbound shipments of Met Coke have gone up further due to a higher coking coal prices. India imported 132,770 MT of Met Coke during the first week of November 2016, and the demand is expected to remain strong as buyers procured actively to stock the material before the government announces an anti dumping duty on imports of Met Coke. Many domestic producers have retained their ex-works prices at the rates in the week, but they are sure to ...
Steel industry to do well as govt slaps anti-dumping duty
The Dollar Business Bureau Indian steel industry is likely to do better due to the protection measures being taken by the government, global credit rating agency Moody's said in its report on Asian steel industry "Steel-Asia: Lower Earnings Keep Outlook Negative" which was released on Wednesday. Profitability of steel companies of the country will be well improved when compared to the other countries in Asian region because of anti-dumping duty, minimum import price and growing demand within the country, Moody's Vice-President and Senior Analyst Jiming Zou said. Union government has imposed anti-dumping duty on cold-rolled flat steel items being imported from four countries - China, Japan, South Korea and Ukraine for six months to safeguard Indian steel industry from low-cost imports. Earlier, anti-dumping ...
India to slap anti-dumping duty for steel on 6 nations
The Dollar Business Bureau The government is set to levy an anti-dumping charge of up to $557 a tonne on imports of some steel products from six nations including China, Japan and South Korea. The Directorate General of Anti-Dumping and Allied Duties (DGAD), in its preliminary investigation, found that hot-rolled flat products of alloy or non-alloy steel has been shipped from China, Japan, Korea, Russia, Brazil and Indonesia to India at "below-normal value", which has caused significant injury to the domestic steel industry. "Accordingly, the authority recommends imposition of provisional anti-dumping duties on the imports of the subject goods, originating in or exported from the subject countries," DGAD said in an announcement. DGAD has suggested an anti-dumping charge ranging from $474 per tonne ...
'Chinas slowdown may spell disaster for steel industry'
The Dollar Business Bureau Indian steel industry which is already hit by cheap imports is expected to face more challenges due to market turbulence triggered by the dramatic slowdown of Chinese economy, an industry body has said. “Troubles within China are expected to spell disaster for the Indian steel industry, as desperate Chinese manufacturers would dump their products more rigorously abroad, having already registered a growth of 232 % in their shipments to Indian ports,” said the Associated Chamber of Commerce & Industry (ASSOCHAM), citing its own study. In 2014, steel exports from China were 93 million tonnes, up by 50.5% year-on-year. At the same time, India’s steel imports increased by over 71% compared to the inbound shipment of the previous ...
Centre mulls to make steel industry globally competent
The Dollar Business Bureau The Government of India (GoI), which acts as a facilitator and coordinator in dealing with the steel industry, has taken few steps in order to make the deregulated Indian steel sector globally competent. This was informed by the Minister of State for Steel, Vishnu Deo Sai, in his reply to Lok Sabha on Monday. In this regard, the Minister informed that an Inter-Ministerial Group has been set up in the Ministry of Steel, in order to expedite the process of clearances and facilitate the faster implementation of investment projects in the steel industry, which would boost the steel production of the country. Aimed at increasing domestic value addition and to further improve iron ore availability ...
