Page 33 - Steel Industry

MMTC gets Rs 724 cr commission from NINL since 2001-02

There is a mutual arrangement between MMTC and other promoters of NINL for payment of commission to the former

Steel imports rise 26% in FY16

The domestic production of finished steel in the last financial year declined to 90.39 mt (provisional), over 92.16 mt in 2014-15

Sponge iron price jumps 10% in one month

Price trend indicates a revival in demand from steel mills after the government took steps to protect domestic firms

Govt initiates anti-dumping probe into imports of hot-rolled coils, plates

Authority finds sufficient evidence of dumping by China, Japan, Korea, Brazil, Indonesia, Russia that has caused significant injury to the domestic steel industry

China to cut steel capacity to 1.13 billion tonnes by 2020

China's plans to shut steel mills over the next 5 years would cut total capacity to an estimated 1.13 billion tonnes by 2020, still far in excess of the country's needs

Global steel industry facing 'Ice Age,' top China mill warns

Steel demand in China is shrinking for the first time in a generation as growth slows and policy makers seek to steer the economy toward consumption

Steel stocks gain as govt extends import duty on hot-rolled flat products

The government has extended import duty on hot-rolled flat products till March 2018

Steel prices to increase by Rs 2,000 a tonne

The increase in cold rolled products is around Rs 2,000 a tonne while that of long products would be

Uttam Value Steels gets green nod for Rs 3,325 crore expansion

According to the proposal, the company will expand the capacity of steel plant from one MTPA to two MTPA in Wardha district

Steel Ministry for reviewing inverted duty structure,peak duty rate

Ministry has written to the Finance Ministry to re-look at the inverted duty structure, which is making import of raw materials such as coking coal, iron ore costly and is leading to an escalation in the operational costs of the steel firms