Soon after raising hot-rolled coil (HRC) prices by Rs 3,000 a tonne on 2 December, India’s domestic steelmakers have raised their benchmark product’s price by another Rs 2,200 per tonne. This price hike is effective from 9 December. A second hike during the month, on the back of buoyant domestic demand, was largely anticipated since […]
Sugar millers have appealed to the Centre to urgently announce a policy for the export of sugar. The appeal comes in the wake of a recent statement by Food and Commerce Minister Piyush Goyal that the government is currently not considering an extension of sugar export subsidies for the 2020-21 season in view of stable […]
India extended the imposition of anti-dumping duty by three months on caustic soda imported from China and Korea to guard domestic manufacturers. The duty was extended after considering the recommendations of the commerce ministry’s investigation arm DGTR. Directorate General of Trade Remedies (DGTR) had requested for extension of the existing anti-dumping duty on the chemical imported from China and […]
As most countries have been gradually reopening from their lockdowns since mid-May, recovery of economic activities is expected in the third quarter, claims the recently released Short Range Outlook (SRO) report for 2020 and 2021 by Wordsteel. Even though all steel-using sectors are affected by the lockdown measures, the mechanical machinery and automotive sectors are […]
The spread of coronavirus, coupled with rising threats of cheap imports from China, Japan and South Korea, has kept the lid on domestic steel prices and forced steel producers to consider pruning production in the short term, amid subdued demand. In a recent report, Kotak Securities has projected a price cut of Rs 1,000-1,500 per […]
India’s aluminium industry has urged the Centre to cut basic custom duty on critical raw materials in the upcoming Union budget, saying high duties will be detrimental for local manufacturers. In its suggestions for the Union Budget for 2020-21, the aluminium industry has said that the basic customs duty on raw materials like caustic soda lye should […]
Anti-dumping duty on 21 flat-rolled products of non-alloy steel such as corrugated sheets are in the offing, the Financial Express newspaper quoted steel secretary Aruna Sharma as saying. The notified provisional anti-dumping duty on 15 wire rod of alloy or non-alloy products would be implemented soon, the report added. Following the imposition of minimum import […]
India’s ambition to become a steel producing colossus will be hampered by its own democratic system and the government’s inability to sink in huge sums into an industry that needs massive investments, a Chinese newspaper has said. Raising doubts over India’s intention to triple its steel output after Prime Minister Narendra Modi said last year […]
