Search Result for : India Steel Imports

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 ...

The Dollar Business Bureau South Korea has become the biggest steel products exporter to India, overtaking China, in the Q1 of the current fiscal, after trailing with India’s neighbour for the past two fiscals. Korea shipped around 5.11 lakh tonnes of steel products to India, slightly more than the 5.10 lakh tonnes exported by China, during the quarter of April-June 2016-17, as highlighted by the data presented by Vishnu Deo Sai, Minister of State for Steel, in a written response to the Upper House. Japan is in the third position, after China, with 3 lakh tonnes of exports and Russia with 1.70 lakh tonnes, it added. As per the presented data, the four countries collectively accounted for over three-fourths of overall steel (14.18 lakh tonnes) ...

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 ...

The Dollar Business Bureau India’s steel imports in May dropped to its lowest in over 14 months, after the government imposed restrictions on cheap overseas supplies of the metal. According to Steel Ministry reports, steel imports plunged 29% to 1.2 million tonnes in the first two months of the current fiscal. India imported 546,000 metric tonnes of steel in May this year as against 924,000 tonnes in the same month last year. In February this year, the government had imposed a floor price on imports of 173 steel products. In March, it extended import taxes on a few steel products until 2018. Last month, the government had imposed a temporary anti-dumping duty on pipes and seamless tubes imported from ...

Deepak Kumar | The Dollar Business Imposition of 20% import duty on certain categories of steel products failed to check a surge in its imports in October, said an expert. Steel imports in India once again rose in October as cheap steel available in China, increase in domestic consumption and rise in trade frictions prompted consumers to look out for cheaper products shipped from other countries. “China has been competitive as they have reduced prices. Attempts are being made by China to reduce steel prices further, so that the duty implemented by India doesn’t impact exports much. Right now we are not expecting a huge decline in steel imports. Its impacts will be more visible in the next two-three months,” C V ...