Search Result for : Aluminium

The Dollar Business Bureau In retaliatory action against the duties on aluminium and steel by the US, China has imposed new tariffs of up to 25% on 128 US products ranging from frozen pork to wine and certain fruits to nuts, escalating the fears of a possible trade war between the two largest economies of the world. The imposition tariffs by Beijing are in response to the 25% on duty on steel and 10% on aluminium that have been levied by the President Donald Trump, according to a statement by the Chinese Finance Ministry on Sunday. However, Trump has temporarily excluded imports from the countries such as European Union, Brazil, Canada, Argentina, Australia, South Korea and Mexico.  Over the past few weeks, Chinese officials ...

The Dollar Business Bureau Bauxite production in India is likely to increase to 49.4 million tonnes by 2021 from 22.08 million tonnes in 2016, according to a report.   The production of bauxite in the country is estimated to be 26.1 million tonnes in 2017, an increase of 18 compared to last year 2016, the report by BMI Research said. The production of the metal is likely to reach to 49.4 million tonnes in 2021, the report said.  “We forecast Indian bauxite production to grow from 26.1 million tonnes in 2017 to 49.4 million tonnes in 2021, averaging an annual growth rate of 17.5% during 2017-2021, significantly higher than the annual average 3.9% growth over 2012-2016,” the Research report said.  The growth of bauxite production in ...

The Dollar Business Bureau Indian-origin businessman Sanjeev Gupta is likely to bail out yet another ailing plant in Britain after he agreed to acquire the UK’s biggest producer of merchant bars that are used in shaping steel products. As per the deal, Gupta’s Liberty House Group will buy out 100% of the share capital of the Caparo Merchant Bar Plc (CMB) from its managers of Caparo Industries. The acquisition forms a part of Liberty House’s broader strategy for Britain’s steel industry, with taken over major parts of Tata Steel’s UK business and earlier acquiring a large part of Caparo’s engineering operations when the plants owned by Indian-born business magnate Lord Swraj Paul, went into management in 2015. “CMB remained solvent despite its parent, Caparo Industries Plc, ...

The Dollar Business Bureau In order to safeguard the domestic industry, the Government has imposed anti-dumping duty on imports of aluminium foil from China.  “The designated authority has recommended imposition of definitive anti-dumping duty on the imports of subject goods, originating in, or exported from the subject country and imported into India, in order to remove injury to the domestic industry,” Finance Ministry said in a notification (No.23/2017-Customs - ADD) on Tuesday. “The Authority has come to the conclusion that the subject goods have been exported to India from the China below normal values and the domestic industry has suffered material injury on account of subject imports from subject country,” the notification said. Based on recommendations, the Finance Ministry imposed an antidumping duty ranging from $0.69 ...

The Dollar Business Bureau  India has imposed a definitive anti-dumping duty of $22.89 on the imports of Aluminium Radiators, Aluminium Radiator Sub-Assemblies and Aluminium Radiator Core, including in complete knocked down (CKD) or semi-knocked-down (SKD) conditions, for use in used/on road vehicles and generator sets, from China.  A notification NO.20/2017-CUSTOMS (ADD)  to this effect was released by the DGAD on May 12, 2017. Citing material injury to the domestic industry as a result of the dumping of the goods below the normal value, the DGAD has imposed an anti-dumping duty of $22.89 on Aluminium Radiators, Aluminium Radiator Sub-Assemblies and Aluminium Radiator Core goods for a period of five years. The products specified in the description of the notification are generally used in ...

The Dollar Business Bureau ICRA predicts that the demand for base metals will remain firm in future as the government is heavily investing in infrastructure. The Smart City Mission will also boost the use of metals like zinc, aluminium and copper as construction activity picks up pace. Massive investments in infrastructure for distribution and transmission of power will further fuel the output of base metals. During FY 2016-17 (Apr-Nov), the output growth of zinc, aluminium and copper remained high at 7%, 10% and 8% respectively, owing to healthy demand from the power sector and automobile manufacturers. ICRA also notes that after the deployment of an air pollution control program in Beijing, China is likely to cut down its aluminium production by 3 million tonnes, creating a supply shortage globally, which can be leveraged ...

The Dollar Business Bureau  The Directorate General of Anti-Dumping and Allied Duties (DGAD) an arm of the Commerce Ministry has notified the final findings of the anti-dumping investigation on the dumping of aluminium radiators of various types. Aluminium radiator sub-assemblies, aluminium radiator core, including in CKD or SKD conditions are among the types of radiators used in automobiles, being investigated for dumping allegations from China. The notification was released on March 20, 2017. The DGCIS in its final report says that the imports from China are far above the de minimis level of dumping margin. With such high magnitude of dumping margin, the dumped imports are causing material injury to the domestic industry.  Banco Products (India) Ltd supported by other domestic petitioners such as Tata ...

The Dollar Business Bureau The Ministry of Commerce on Monday sought clarifications from the Ministry of Mines with respect to the minimum import price of aluminium, as the government looks to take more steps to protect the domestic steel industry.  “They (the commerce ministry) raised certain queries. We are sending replies of those queries to the commerce ministry,” Mines Secretary Balvinder Kumar told PTI. He said the government will announce additional measures within a fortnight.  The government has been contemplating on imposing MIP on steel, a decision which could raise cheaper imports from various countries, thereby hurting the domestic aluminium manufacturers.  The Indian aluminium industry had earlier sought restrictions of MIP on aluminium imports, as on steel. India already has restrictive arrangements on steel.  A ...