Page 11 - Steel
Steel sector faces December chill on costly coal
Benefit of higher realisation to get nullified as coking coal prices shoot
 "Steel sector faces December chill on costly coal")
Steel sector revival likely after April
Spot prices of premium hard coking coal have come off a high of $310 in Nov to $222 a tonne
 "Steel sector revival likely after April")
China's Hebei to cut 31.86 million tonnes of steel & iron capacity in 2017
Hebei had earlier cut 14.62 million tonnes of steel capacity by the end of October 2016
 "China's Hebei to cut 31.86 million tonnes of steel & iron capacity in 2017")
Domestic steel production rises as sales pick up
Sail, Essar Steel witness production growth of 15% and 61%, respectively, in FY17
 "Domestic steel production rises as sales pick up")
India may turn net steel exporter
During April-November, exports increased 53% over the same period last year to 4.24 million tonnes
 "India may turn net steel exporter")
Steel units want lifting of embargo on day movement of iron ore
State govt has already notified a uniform freight policy for mineral transport, fixing a ceiling on maximum permissible transportation charges
Implementation of stainless steel quality control order extended by 2 months
Extension was necessitated as licensing process by BIS is taking longer time
 "Implementation of stainless steel quality control order extended by 2 months")
Liberty House to buy Tata Steel UK's speciality steels business for £ 100 mn
Speciality steels business, which employs about 1,700 people, produces steels for the aerospace, automotive and the oil & gas industries
 "Liberty House to buy Tata Steel UK's speciality steels business for £ 100 mn")
Rising coal prices temper steel's recovery hope
As industry bellwether ArcelorMittal crimps fourth quarter results, fears grow other players might also be hurt
 "Rising coal prices temper steel's recovery hope")
Steel's woes end after five-year slump
China's focus on infrastructure spending to give a thrust to its economy fires up demand once again
 "Steel's woes end after five-year slump")
Steel turns dearer as coking coal price surges
Major flat-steel producers have increased prices by Rs 1,500/tonne; impact may be seen in fourth quarter
 "Steel turns dearer as coking coal price surges")
Anti-dumping duty imposed on Chinese steel products
Centre has imposed anti-dumping duty on imports of steel wire rods from China to protect domestic manufacturers from cheap in-bound shipments. The Department of Revenue in a notification yesterday said anti-dumping duty is being imposed for six months on import of wire road of alloy or non-alloy steel from China. The measure follows recommendation by the Directorate General of Anti-Dumping and Allied Duties (DGAD) that steel wire road was being exported by China "below the normal value" and "the domestic industry has suffered material injury" because of such imports. In its September 27 finding, the DGAD also stated that "the injury has been caused by the dumped imports of the subject goods" from China. An anti-dumping duty equivalent to the difference between the landed value of steel products and USD 499 per tonne will be imposed on products exported by Minmetals Yingkou Medium Plate Co Ltd. In case of other producers, the anti-dumping duty would be the difference between the ...
Steel makers oppose anti-dumping duty on met coke
The commerce ministry had recently recommended a $25 per tonne levy on such imports
Capacity consolidation will improve cost efficiency of steelmaking
To the extent that capacity has been brought under a single umbrella, the experiment has given good results in India
 "Capacity consolidation will improve cost efficiency of steelmaking")
Minimum import price on steel does little for debt servicing
Lenders see renewed interest from investors in leveraged companies
 "Minimum import price on steel does little for debt servicing")
Steel firms likely to raise price after MIP extension
Brokerages see no room for upward price revision in flat products, long products could have limited scope
Steel product imports rise faster; creating inverted duty structure: EEPC India
Imports for the finished goods in the form of products of steel and iron have been increasing in the range of 22.5% and 51% between June and August this year
 "Steel product imports rise faster; creating inverted duty structure: EEPC India")
Steel firms gear up for another hike in prices
Big companies like Essar Steel, JSPL, JSW Steel and SAIL to pass on higher cost of production to customers
Two top China steelmakers announce merger to combat glut
China is trying to overhaul its lumbering state sector and especially its steel industry
 "Two top China steelmakers announce merger to combat glut")
Govt puts more steel grades under quality control order
Aims to check rampant import of cheap steel products into the country, especially from China