Indian finished steel exports up 64%; imports rise 42% in July
The Dollar Business Bureau India’s export of finished steel surged by 64.2% to 0.770 million tonne in the month of July against the 0.469 million tonne in the same month a year ago, according to a report. On the other hand, finished steel imports also jumped by 42.2% at 0.798 million tonne in the said month this year against the 0.561 million tonne last year, said the report by Joint Plant Committee (JPC), which gathers data on iron and steel sector in India. “India was a net importer of total finished steel in July 2017 but maintained its net exporter status for the cumulative period, i.e. during April-July 2017,” it said. During April-July period this year, exports of total finished steel was increased by ...
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 ...
Inflation maintains a rising trend
By Abin Daya In line with our expectations, CPI inflation inched up in March, though WPI inflation eased a bit. Considering the significant gap between retail and wholesale inflation even now, it remains to be seen whether the former will move up further, despite wholesale inflation coming down. Indian steel industry seems to have got its mojo back in 2016, and this is expected to continue for the next two years. Steel production and consumption grew by 7.4% and 4.1% respectively, highest amongst all major producers and consumers. We give you a snapshot of what the World Steel Association is forecasting for 2017 and 2018. Retail inflation In the weekly update for week 11, we had mentioned that we expect CPI inflation to move ...
Duty hike fails to curb steel imports in India
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 ...
