India frames norms to enforce ‘rules of origin’ for imports under FTAs

The Indian government has come out with norms for the enforcement of ‘rules of origin‘ provisions for allowing preferential rate of customs duties on products imported under free trade agreements, PTI reports. The new norms have been framed with a view to checking inbound shipments of low quality products and dumping of goods by a third […]

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World July 2020 crude steel output at 152.7 million tonnes; China y-o-y higher by estimated 9%, India down 24.6% – worldsteel

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World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 152.7 million tonnes (Mt) in July 2020, or 2.5% lower than in the same period last year. Due to the ongoing difficulties presented by the COVID-19 pandemic, many of this month’s figures are estimates that may be revised with […]

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MySteel Global – Japan’s Jan-Jun domestic carbon steel sales fall 20%

Japan’s domestic carbon steel sales over January-June fell 19.7% on year to about 16.9 million tonnes, according to the latest data released by the Japan Iron & Steel Federation on August 17, and market sources expect the condition to improve over July-December though uncertainties persist. A sales official from an integrated mill in Tokyo expressed little […]

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COVID-19 impact and lack of demand in auto industry reduces consumption of global iron ore by 2.8%: GlobalData

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The impact of COVID-19 on the mining industry has been strained by the struggling global automotive industry, which consumes approximately 17 per cent of iron ore globally, a report from GlobalData. Light vehicle sales fell by 24 per cent in Q1 (January-March) 2020 globally, then by 47.5 per cent in April 2020 and 33.8 per […]

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Japan bets big on Mozambique LNG

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In partnership with its country’s business sector, the Japanese government will invest some $14.4 billion (1.5 trillion yen) in liquefied natural gas development in Mozambique, the Nikkei Asian Review reported. According to the report, the money will fund the development of a gas field in the African country to produce some 12 million tonnes of LNG […]

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