Indian steel industry set to report record sales growth in fourth quarter of fiscal 2021: Analysts

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Strong domestic demand, followed by healthy exports have aided India’s steel industry’s production and sales growth in the fourth quarter of 2020-21 on a sequential basis, say analysts. Revenues of steel companies are expected to improve 20 per cent quarter-on-quarter and 45-50 per cent from a year ago on higher realization and rising demand, led […]

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India to review continuation of anti-dumping duty on steel products from seven countries

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Union Commerce Ministry’s investigation arm DGTR has initiated a probe to review the need to continue imposition of anti-dumping duty on certain types of steel products imported from China, Korea, European Union, South Africa, Taiwan, Thailand and the US following complai/nts from domestic industry, according to a notification. Jindal Stainless Ltd, Jindal Stainless (Hisar) Ltd and Jindal Stainless […]

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India’s domestic steel firms set to hike prices by Rs 1,000 a tonne from March 1, 2019; third rise since February 2019

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Prompted by strong demand growth in the domestic market, steel producers are set to hike product prices by Rs 1,000 a tonne from March 1. This will be the third rise in prices since February 1, Business Standard reports. A growing demand for steel across sectors is prompting large producers of steel to go ahead with  yet another price […]

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Production cut by Vale SA to benefit Indian iron ore and steel producers in short term: Ind-Ra Ratings

The recent revocation of the mining licence of Vale SA for the Brucutu mine in Brazil will be favourable for domestic iron ore miners and steel producers in the short term, believes India Ratings and Research (Ind-Ra). With a limited supply of iron ore, the hardening prices of iron ore and steel in the international […]

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India slaps anti-dumping duty on steel imports to protect domestic industry

The Indian government said it was imposing anti-dumping duty on stainless steel, an effort to protect the beleaguered local industry from cheap imports flooding the market. The anti-dumping duty between 5-57 percent has been levied for a period of five years after domestic companies complained that their bottomline was being hit by cheap imports from […]

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Alarms sounds for India’s biggest steelmakers – Chicago Tribune

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The companies are suffering a triple blow from a glut of domestic production, soaring imports and prices at a six-year low, just as Prime Minister Narendra Modi seeks to spur growth in Asia’s third-biggest economy. The industry owes 2.87 trillion rupees($43.8 billion) of loans, an increasing amount of it close to delinquency, and the big […]

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