US to remove 30 steel and aluminum products from tariff exclusion list

The US Commerce Department will remove 30 steel and aluminum product types from its list of “general approved exclusions (GAE),” again subjecting these items to duties under the nation’s Section 232 metal tariffs, the department said Dec. 9. “Based on Commerce Department’s review of the public comments received in response to the Dec. 14 [2020] […]

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High input cost, weak steel prices to hit steel industry earnings: ICRA

Higher input costs coupled with softening steel prices is expected to hurt earnings of the domestic steel industry from December quarter onwards, ratings agency ICRA said. Among the input costs, skyrocketing coking coal prices in the spot market is hurting companies’ earnings, it said. Nonetheless, the industry’s absolute profitability metrics will still remain at healthy […]

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India’s steel minister meets Mongolian parliamentary delegation to facilitate import of coking coal

Union Steel Minister Ram Chandra Prasad Singh has met a delegation of Mongolian Parliamentary and discussed the possibility of importing good-quality coking coal from the land-locked nation. The Mongolian Parliamentary Delegation is on a seven-day visit to India from November 30, 2021, on the invitation of the Parliament of India, the Ministry of Steel said […]

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Steel demand drops by 5% in FY21: Union minister informs Parliament

Demand for steel from sectors like infrastructure, automobile and engineering fell by more than 5 per cent to 94.9 million tonnes during the financial year ended on March 31, 2021, Parliament was informed early this week. Building and construction sector along with infrastructure, automobile, engineering and packaging and defence had consumed 100.2 million tonne (MT) […]

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Steel prices in India remain competitive compared to international markets: India’s steel ministry

Driven by the market dynamics, steel prices in the country have risen but are still competitive as compared to prices of the metal in the international markets, a steel ministry official said during a CII meet.  Steelmakers in the country have reportedly raised prices of benchmark hot-rolled coil by up to Rs 3,500 a tonne […]

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Global crude steel production crashes to 144.4 million tonnes on energy crunch

Global crude steel production declined in September, marking the fourth straight month of month-over-month declines. September global crude steel production fell to 144.4 million tonnes, the World Steel Association reported last week. Metals producers around the world have felt the burden of rising energy costs. Zinc prices, for example, have since retraced but earlier this month […]

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