EU imposes anti-dumping duty on Chinese cast iron products
The Dollar Business Bureau Chinese cast iron products have been imposed anti-dumping duties as high as 42.8% by the European Commission. An eight-month investigation by the Commission confirmed that China dumped its hot-rolled flat steel at cheap prices in the European market, causing losses to several EU steel producers. The European Commission acted on behalf of the 28 countries in EU in imposing the ADD, which was triggered by a complaint filed by Fondatel Lecompte SA, Ulefos Niemisen Valimo Oy Ltd, Saint-Gobain PAM SA, Fonderies Dechaumont SA, Heinrich Meier Eisengießerei GmbH & Co KG, Saint-Gobain Construction Products UK Ltd and Fundiciones de Odena SA. This group produces nearly 40% of the EU-bloc’s cast iron products. With regard to reports of Indian steel too being ...
Govt approves new Steel Policy, aims 300 MT capacity by 2030
The Dollar Business Bureau With an aim to give impetus to the steel sector in India, the government has approved the National Steel Policy (NSP) 2017 on Wednesday. The new policy is aimed at achieving the country’s steelmaking capacity to 300 million tonnes by 2030, which would translate into Rs.10 lakh crore of additional investment by 2030-31. “The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to the National Steel Policy (NSP) 2017,” the Steel Ministry said in a statement. “The new Steel Policy enshrines the long term vision of the Government to give impetus to the steel sector. It seeks to enhance domestic steel consumption and ensure high quality steel production and create a technologically advanced and globally competitive steel industry,” the statement said. The Union Cabinet also cleared the ...
Ministry pitches for minimum import price on steel
The Dollar Business Bureau The ministry is in talks with the National Mineral Development Corporation (NMDC) to explore the possibility of further reducing the iron ore prices In an attempt to impose duty on steel imports, the Steel Ministry on Wednesday said it has sent a note to the Prime Minister's Office (PMO) seeking permission to fix minimum import price for various steel products. “The Ministry is looking into the industry’s suggestion to impose minimum import price on steel products and it has been sent to the PMO last week,” the Union minister of state for Steel and Mines Vishnu Deo Sai said. Deo said the ministry was also in talks with the National Mineral Development Corporation (NMDC) to explore ...
