India exports 8.22 MT of finished steel in Apr-Jan
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 ...
Indias finished steel exports drop 30% in Jan to 0.616 MT
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 ...
India has become a net exporter of steel: Steel Minister
The Dollar Business Bureau Steel Minister Chaudhary Birender Singh said on Thursday that the country has become a net exporter of steel, and the imports of the metal had come down by around 40-45%. “Following protective measures taken by the Government like the minimum import price (MIP) and anti-dumping duty, steelmakers had been posting better results. This has also helped India emerge as a net exporter of steel, and imports had come down by 40-45%,” Singh said while speaking at an interactive session organized by the Bharat Chamber of Commerce. The Minister said that India has to set a target to export 6-7% of its overall steel production from the current 1.5%. “There is no reason to be happy with 1.5% of export. In ...
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 ...
Govt plans to use excess land with PSUs for capacity addition
The Dollar Business Bureau The government is planning to utilise surplus land available with public sector units (PSUs) by forging joint ventures (JV) with private players for setting up of new steel plants, which will also help the government to achieve its target of taking the steel production capacity of the country to 300 million tonnes by 2030. The Union Cabinet on Wednesday has approved the New Steel Policy (NSP) 2017 that is aimed at achieving the country’s steel production capacity to 300 million tonnes by 2030 with an additional Rs.10 lakh crore investment. Currently, the steel production capacity of the country is 126 million tonnes. “A new policy for steel industry has been approved after 12 years that will give a ...
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 ...
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 ...
Indias core sectors grew 5% in March this year
The Dollar Business Bureau Supported by the higher production of steel and coal, the eight core sectors in India grew by 5% in the month of March, a fastest growth in the past three months. The rate of growth of eight infrastructure industries, i.e., steel, coal, natural gas, crude oil, refinery products, fertilisers, electricity and cement, was relatively low compared to 9.3% recorded in the same month last year. According to the data released by the government on Monday, coal production grew by 10% in the said month compared to 2.5% in the previous year. The production of steel, both alloy and non-alloy, increased by 11% in March whereas it had increased by 7.8% in the same period in 2016. ...
