Search Result for : Steel Imports

The Dollar Business Bureau The Government on Monday said that India exported 8.22 million tonnes of finished steel during April-January period of the current financial year. As compared to exports, the country’s imports were lower at 6.45 million tonnes during the 10-month period of 2017-18, said Vishnu Deo Sai, Minister of State for Steel, in a response to the Lok Sabha. The country had exported 8.24 million tonnes of finished steel during the fiscal of 2016-17 and 4.08 million tonnes in the 2015-16 fiscal, the Minister said. On the other hand, the country’s imports of finished steel stood at 7.23 million tonnes in 2016-17 financial year, while imported 11.71 million tonnes of finished steel during 2015-16 fiscal. Replying to a question on volatile pricing of ...

The Dollar Business Bureau The exports of finished steel from India dropped by more than 30% to 0.616 million tonnes during January this year as compared to same month a year ago, as per the data compiled by the Ministry of Steel’s Joint Plant Committee (JPC).  Joint Plant Committee (JPC) is the only organisation in the country empowered by the Government to maintain data on steel and iron sector. The country’s finished steel export stood at 0.890 million tonnes during the month of January 2017.  Earlier, Steel Minister Chaudhary Birender Singh had said that steel exports of should make up for around 6-7% of country’s overall steel production in the coming few years, from the current 1.5%.  On the other hand, the import ...

The Dollar Business Bureau  The US Ministry of Commerce has said it is likely to launch anti-dumping and countervailing duty probe of steel flanges being dumped by India and China into its markets.  The Commerce ministry has been petitioned by the Coalition of American Flange Producers and members in its group like Core Pipe Products Inc of Illinois and Maas Flange Corporation of Texas, to consider their petitions filed on August 16 and begin the investigation.  The domestic producers allege that the estimated dumping margins ranged between 99.23% to 257.11% for China and 78.49% to 145.25% for Indian steel products and also estimated that products from both the sides were subsidized at undetermined rates. Reiterating his government’s support to defend American businesses and ...

The Dollar Business Bureau In order to safeguard the domestic industry from cheap steel imports from China, the government is considering imposing 18.95% countervailing duty on the imports of some specific kind of flat steel products. The Directorate General of Anti-Dumping and Allied Duties (DGAD), in its final findings, has found out that despite enough demand in the country and its capacities, the local industry has lost opportunities for sales, which is a direct result of subsidised shipments from China.  “The authority recommends imposition of definitive countervailing duty...so as to remove the injury to the domestic industry,” DGAD said in a notification. It has recommended that the actual duty should have to be the differentiation between quantum of proposed countervailing duty (that is 18.95%) ...

The Dollar Business Bureau The Union Minister for Steel Chaudhary Birender Singh on Friday said the government will ensure that steel products are not brought into the country in the guise of utensils or finished products. “We are keeping an eye on the import of steel in guise of finished products. We will not allow such kind of practice even in trade,” Union Minister of Steel Chaudhary Birender Singh told reporters after addressing a meeting of the National Steel Consumers’ Council here. He stated that the government has been successful in reducing steel imports by 37% which were mostly from China in FY 2017.This happened due to India's tough anti-dumping measures and also due to the withdrawal of the Minimum Import Price of ...

The Dollar Business Bureau Domestic steel mills may benefit from lower iron ore and coking coal costs in the current year but sustained weakness in demand still remains a concern, ICRA said. The ratings agency in a report said, "Sustained demand weakness remains a concern for the domestic steel industry with a growth of mere 4.6% and 2.6% in FY2016 and FY2017 respectively due to sluggishness in key end-user industries. "Weak demand conditions have led to a correction in domestic hot rolled coil (HRC) prices by 7% in May 2017." The report also specified that the seaborne iron ore prices have corrected by 36% between February and May of 2017 dragged down by a correction in Chinese steel prices, steadily rising iron ore ...

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 ...

PTI India's steel industry has come out of the stress, with the exports going up by 57% and imports declining by 34%, the government told the Rajya Sabha today. Steel Minister Chaudhary Birender Singh said the country's steel output is at around 120 million tonnes and the government is aiming to achieve 300 million tonnes by 2030. "There was recession in global steel sector and it had an impact on India as well. Our steel industry was in stress for more than three years. But the situation has changed in last six months," he said. In the last six months, steel output has gone up by 15 lakh tonnes and exports have shot up by 57 per cent while imports have down by ...