Round Bars Manufacturer in Pune, India. Unfair trade practices puts steel industry at risk: union. Unfair trade practices puts steel industry at risk: union. Len Boselovic’s Heard off the Street: U.S. steel industry a victim of its own success, authors say. Len Boselovic’s Heard off the Street: U.S. steel industry a victim of its own success, authors say. Len Boselovic’s Heard off the Street: U.S. steel industry a victim of its own success, authors say.
The profitability of steel industry will improve: TV Narendran, MD, Tata Steel. More protection for steel industry with dumping levy on products from 6 nations. More protection for steel industry with dumping levy on products from 6 nations. The domestic steel industry got further protection from cheap imports after the Finance Ministry imposed a provisional anti-dumping duty on hot-rolled flat steel products from six countries, including China and South Korea, for a period of six months.
India's steel industry attracts global eyeballs at MMMM 2016. New Delhi, Aug 12 (ANI): A three-day international exhibition on Minerals, Metals and Metallurgy Materials (MMMM) 2016 attracted exhibitors and visitors from around the world here.
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EN1A L Bright Bars Manufacturers. National Steel Policy aims to Make Indian Steel Industries Globally Competitive. Minister of Steel and Mines Narendra Singh Tomar in a statement laid on the Table of the Rajya Sabha today informed the House that India is the 3rd largest crude steel producer in the world in 2015 as per provisional rankings released by the World Steel Association (WSA).
As per data released by JPC, India’s crude steel production capacity is 109.85 million tonnes in 2014-15 and at 116.74 million tonnes in April-December, 2015-16 (provisional). There has been a growth of 6.5% of Compound Annual Growth Rate (CAGR) in steel production capacity in the country during from the years 2012-13 to 2014-15 and the trend is likely to be continued during the year 2015-16 and increase thereafter.
In a liberalised and de-regulated economy, the Government’s role is that of a facilitator. Diversification needed in steel industry: EDC. Any economic development initiative created in Sault Ste.
Marie should include some form of plan that includes the steel industry, but the others cannot be forgotten. Tom Dodds, CEO of the Sault Ste. Marie Economic Development Corp. said the steelmaker is still the most important employer in Sault Ste. Marie and the most important local Gross Domestic Product producer (GDP). China’s steel industry committed to cutting overcapacity. China’s steel industry is facing the daunting task of fighting overproduction.
Slower economic growth has made overproduction in China’s steel industry a burdening problem. Premier Li Keqiang has called for greater efforts to deal with it. Wuhan Iron and Steel is one of the country’s biggest iron producers, and one of the world’s 500 biggest firms. The director of communications Wuhan Iron and Steel Corporation, Sun Jin said “There have been no layoffs or pay cuts at all. The corporation just wants to optimize labor resources, reduce human resource costs and enhance labor productivity. UK steel industry drowning in flood of Chinese imports, union leader warns. The UK steel industry is "drowning" in a flood of cheap Chinese imports, which will get worse after the United States decided to impose new tariffs, a union leader has warned.
Community said the US announcement of tariffs of 266% on Chinese steel contrasted starkly with the "measly" 16% Europe introduced last month. Commenting ahead of the first meeting of a Government-convened Steel Council, general secretary Roy Rickhuss said: "At every opportunity the Business Secretary says he supports a level playing field for UK steel producers, but his government continues to block moves to scrap the Lesser Duty Rule which stops the European Commission imposing meaningful tariffs to prevent Chinese dumping.
"Unless the Secretary of State is prepared to join others in Europe and stand up for our industry soon the debate will be over as we will have no industry left to save. Hope for Local Steel Industry? GRANITE CITY, Ill.
(KMOX) – A pair of expected Commerce Department rulings and a future meeting with corporate leaders have at least one local official feeling more optimistic about the future of the local steel industry. Returning from a trip to Washington D.C., Madison County Board Chairman Alan Dunstan says he’s seeing positive signs that steps are being taken to protect domestic steel from cheap, foreign imports. For one, he says, more support for the Commerce Department and its efforts to reduce the amount of cheap steel being dumped into the market. “Our Congressional delegation,” he says, “has been instrumental in putting a little bit more money into the Commerce Department to support some of these issues and giving them the tools to fight, to help them out a little bit.”
On Tuesday, the department is scheduled to rule on a steel-dumping case that Dunstan says could have an almost immediate impact. But Dunstan and other local leaders aren’t just counting on the Commerce Department. Budget 2016 to help steel industry meet its growth target: T V Narendran, Tata Steel. KOLKATA: The budgetary proposals announced by the Finance Minister will help the industry meet its growth target and reach its full potential.
However, the doubling of Clean Energy Cess from Rs 200 to 400 per ton would further increase the input cost for domestic producers, T V Narendran , MD Tata SteelBSE -0.04 % (India & SE Asia) said commenting on the budget proposals. Railway Budget 2016: Steel industry awaits early review of rail tariff policy. "Rail Budget is a forward looking and development oriented one.
" The steel industry would look forward to an early review of the policy to make movement of bulk commodities competitive, Tata Steel managing director (India and Southeast Asia) T V Narendran said in his reaction to Railway budget. He said, "Rail Budget is a forward looking and development oriented one. Budget 2016: Raise import duty on all steel products to 25%, says Ficci.
Ficci has asked the government to raise the import duty on all steel products to 25% in the upcoming Budget 2016, as demand slows down in China, the world's largest steel producer and consumer.
With the steel demand slowing down in China, the country is dumping steel products in India at cheaper prices, the industry body said. "Import duty on all steel products should be raised to 25% in the upcoming Budget 2016. As an interim measure, we suggest that the customs duty on all steel products be immediately increased to 15%," the industry body said. It said the tariffs on both Long and Flat Products need to be increased to provide a level playing field to the domestic industry, which has been severely hit due to rising imports. JP Morgan: Steel industry hit new low in Oct-Dec. The brokerage house acknowledged that amidst damage to their financials, most companies have likely cut spending sharply, including even maintenance spending The domestic steel industry, which has been reeling under the burden of cheap imports and lower realisation, hit a new low during the October-December quarter, according to an analysis by brokerage firm JP Morgan of the listed firms.
During the period, only 4 of the 26 listed players reported net profit while only half of them were Ebitda (earnings before interest tax depreciation and amortization) positive. Also the interest coverage capability of these firms weakened further as only four of the listed players made operating profit to cover their “P&L interest”, JP Morgan analysts said in a strategy note on Thursday. Steel industry seeks special package from Centre, banks. NEW DELHI, FEBRUARY 16: The Indian Steel Association has sought a special financial package from the Centre and the Indian Banks’ Association, similar to the support provided to the textile and sugar industries. You Can’t Make in India if You Can’t Make Steel. The Modi government’s ‘Make in India’ campaign is aimed at transforming the country into a global manufacturing hub and creating millions of jobs for those who will join the workforce in the coming years.
With the global industrial powerhouse China moving towards consumption-led growth, the time is ripe for India to raise the profile of its manufacturing sector. But a high-cost domestic steel industry does not augur well for the ‘Make in India’ initiative. Out of the nearly two dozen sectors identified by the government as focus areas under the campaign, the cost of steel is crucial to the competitiveness of manufacturing in at least nine industries – automobile, automobile components, construction, defence manufacturing, electrical machinery, railways, renewable, thermal power, and oil and gas.
Declining competitiveness Yet the news here is not good. Steel industry set for crunch meeting with European bureaucrats over trade duties. Britain's in-crisis steel sector to demand swifter action from European Commission to protect the industry Bosses from Britain’s embattled steelmakers are to confront European officials to demand stronger action to help the industry survive the current crisis.
Steel chiefs, government ministers and unions from across Europe will meet top European Commission officials in Brussels on Monday where they will demand measures to help the industry weather the “perfect storm” created by a flood of subsidised steel from China, global over-capacity and high energy prices. What’s Wall Street Saying About the Steel Industry? The steel industry The metals sector has seen significant downgrade activity this year. Most of these downgrades have come after the 4Q15 earnings release.
Although most steel companies reported better-than-expected earnings, analysts seem concerned about the industry’s near-term outlook. Is the worst over for the crumbling steel industry? Like much of the commodity complex, the last 12 months have been brutal for the steel industry, with prices falling to 12-year lows as currency headwinds, oversupply and dwindling demand prevail, resulting in mass job cuts in the sector. Welsh steel industry "fighting for its life", says minister. WALES’ steel industry is “fighting for its life” following the announcement of more than 1,000 job losses at plants in Newport, Port Talbot and elsewhere, a Welsh Government minister has said.
Speaking in the Senedd earlier today economy minister Edwina Hart said cheap imports from China and high UK energy costs were among the causes of last month’s announcement by Tata Steel that 1,050 jobs would be lost from its British operation. Bright Bar Manufacturers from Pune. With so many companies entering the steel industry, it is becoming more and more difficult for individuals and businesses to identify the right service provider. We at Hindustan Ferro, understand all your issues and therefore we manufacture alloy steel of first grade. We do make use of good quality raw materials so that you get the best possible alloy steel for carrying out the manufacturing process in your unit.
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