Page 16 - Steel Industry
Steel industry owes Rs 3,00,000 crore to banks
With Chinese steel in the market, the prices have fallen, resulting in the domestic steel producers suffering heavy losses
 "Steel industry owes Rs 3,00,000 crore to banks")
Steel imports continue below MIP levels, complain producers
Total imports in April-June were 1.75 million tonnes, of which 69 per cent were below MIP levels
 "Steel imports continue below MIP levels, complain producers")
Has G20 meet just given steel sector a reason to celebrate?
G20 has urged world's top economies to tackle excess production capacity in steel and some other industries
 "Has G20 meet just given steel sector a reason to celebrate?")
India probes dumping of steel products from China, EU
Anti-dumping authority responds to petition filed by Essar Steel and JSW Steel to probe dumping of certain flat steel products
 "India probes dumping of steel products from China, EU")
China steel giants plan merger in face of global glut
Beijing has vowed to eliminate 100-150 million tonnes of capacity by 2020
 "China steel giants plan merger in face of global glut")
May steel imports lowest in at least 14 months
Consumption of steel in India is growing, rose 3.8 per cent in May
Dissent in steel industry on MIP
The government imposed MIP in February on 173 steel products for a period of six months, ending in August
Ministerial group to decide on steel capacity boost tomorrow
Issues with composite licence and hurdles in clearances to be discussed
MMTC gets Rs 724 cr commission from NINL since 2001-02
There is a mutual arrangement between MMTC and other promoters of NINL for payment of commission to the former
 "MMTC gets Rs 724 cr commission from NINL since 2001-02")
Steel imports rise 26% in FY16
The domestic production of finished steel in the last financial year declined to 90.39 mt (provisional), over 92.16 mt in 2014-15
 "Steel imports rise 26% in FY16")
Sponge iron price jumps 10% in one month
Price trend indicates a revival in demand from steel mills after the government took steps to protect domestic firms
 "Sponge iron price jumps 10% in one month")
Govt initiates anti-dumping probe into imports of hot-rolled coils, plates
Authority finds sufficient evidence of dumping by China, Japan, Korea, Brazil, Indonesia, Russia that has caused significant injury to the domestic steel industry
China to cut steel capacity to 1.13 billion tonnes by 2020
China's plans to shut steel mills over the next 5 years would cut total capacity to an estimated 1.13 billion tonnes by 2020, still far in excess of the country's needs
 "China to cut steel capacity to 1.13 billion tonnes by 2020")
Global steel industry facing 'Ice Age,' top China mill warns
Steel demand in China is shrinking for the first time in a generation as growth slows and policy makers seek to steer the economy toward consumption
Steel stocks gain as govt extends import duty on hot-rolled flat products
The government has extended import duty on hot-rolled flat products till March 2018
 "Steel stocks gain as govt extends import duty on hot-rolled flat products")
Steel prices to increase by Rs 2,000 a tonne
The increase in cold rolled products is around Rs 2,000 a tonne while that of long products would be
Uttam Value Steels gets green nod for Rs 3,325 crore expansion
According to the proposal, the company will expand the capacity of steel plant from one MTPA to two MTPA in Wardha district
Steel Ministry for reviewing inverted duty structure,peak duty rate
Ministry has written to the Finance Ministry to re-look at the inverted duty structure, which is making import of raw materials such as coking coal, iron ore costly and is leading to an escalation in the operational costs of the steel firms
