COMMENT-As steel prices head south, India may like to thank China

steel-1.jpg

New Delhi would without doubt be cheering Beijing’s crackdown on polluting steel mills towards the end of this week. The single action by China’s government has sent skyrocketing iron-ore prices crashing, which will translate into lower prices of the most important steel-making ingredient for Indian steel mills as well. New Delhi has been so troubled […]

Read more

India’s steel industry needs sustained government intervention: Kearney

Intranet-tata-steel-construction-corby-CORBY-4771.jpg

Targeting India’s high cost of finance, global consultancy firm Kearney, formerly A T Kearney, has prescribed a deeper and sustained government participation for India to create a globally competitive steel industry. “India’s higher cost of financing makes it difficult for domestic players to operate capacity expansion plans. The industry needs a financial stimulus and should […]

Read more

Iron ore stockpiles at mines remain unsold: FIMI

iron-ore.jpg

The Federation of Indian Mineral Industries (FIMI) has said that stockpiles at mine-heads are increasing. Refusing to allow their exports will only amount to complete wastage of a material which can earn valuable foreign exchange for the country, it said. Currently, India requires around 165 million tonnes of iron ore as against production of 206 million tonnes […]

Read more

Indian aluminium producers’ seek import duty hike ahead of budget

aluminium-.jpg

Ahead of the budget, aluminium producers in India have sought steps from the government to hike import duty on primary aluminum, scrap and downstream products and rationalise costs of raw materials. Industry bodies such as the Aluminium Association of India (AAI) and FICCI have informed the government that the aluminium sector of the country is […]

Read more