Page 14 - Steel

India sets new steel quality standards; auto-grade imports exempt for 6 months

Indian car makers import about 1 million tonnes of high-tensile steel annually, mainly from Japan and South Korea

Steel imports have come down by 1/4th against FY15: Steel Ministry

Global downturn led to countries including China dumping cheap steel in India, which has impacted the sales and profits of the companies

Steel consumption drops in Feb, first time in 3 months

Steel consumption fell 15.5% to almost 6 mt from the preceding month in Nov, but rose 11.2% from a year earlier

Govt. starts probe into circumvention of duty on steel items

It is alleged that the existing anti-dumping measures imposed in 2010, and amended later, are being circumvented and evidence for the same exists to justify the initiative of an investigation

Galvanisation of rail tracks will ensure longer life, safety

Corrosion of old cars, collapsing structures and rail tracks causes losses of around 4% of GDP