Page 6 - Steel
Steel industry to marginally benefit from GST
Govt ready to provide protection to domestic pipe manufacturers against unfair trade practices
 "Steel industry to marginally benefit from GST")
India on track to become top global steel producer: Report
India's steel output to clock an average annual growth of 8.9% during 2017-21
 "India on track to become top global steel producer: Report")
India takes US to WTO for failing to drop steel duties
To drop anti-subsidy duties on certain Indian steel products after losing an earlier ruling
Steel gets a boost as govt steps in to support demand
Govt is coming out with a policy to provide preference to domestically manufactured iron and steel
 "Steel gets a boost as govt steps in to support demand")
Jindal Steel launches 6-MTPA integrated steel plant in Odisha
The Rs 33,000-cr plant at Angul ramps up JSPL's iron & steel capacities significantly
 "Jindal Steel launches 6-MTPA integrated steel plant in Odisha")
Steel sector SMEs hope lower GST on coal will boost margins
GST on coal has been brought down to 5% from the current tax incidence of 11.69%
 "Steel sector SMEs hope lower GST on coal will boost margins")
Stress in steel sector has eased a lot, says Birender Singh
By imposing restrictions like anti-dumping duty, we have covered 75% of steel industry, says govt
 "Stress in steel sector has eased a lot, says Birender Singh")
Non-performing assets in steel will disappear: Union steel secretary
Aruna Sharma says the steel sector's bad loans comprised 28% of the NPAs of the banks
 "Non-performing assets in steel will disappear: Union steel secretary")
Domestic steel gets infrastructure boost
Domestic steel will now get preference in infrastructure under the National Steel Policy approved by the Union Cabinet on Wednesday. The move would boost the sales of debt-laden companies.The policy would focus on increasing the country's annual steel production to 300 million tonnes by 2025, entailing an investment of Rs 10 lakh crore by 2030-31. "India should have a globally competitive steel industry and we want that the per capita steel consumption in the country should be 160 kg by 2030," Finance Minister Arun Jaitley while briefing the media after the Cabinet meeting.The existing per capita steel consumption of the country is 60 kg. The government is of the view that surplus steel capacity should be utilized for government funded infrastructure projects.The central government plans to create self-sufficiency in steel production by providing support and guidance to private manufacturers, micro, small and medium enterprises and public sector companies through this move.The ...
 "Domestic steel gets infrastructure boost")
Cabinet may make local steel compulsory for govt infra projects: Source
The policy is broadly seen as a continuation of India's protectionist stance against China & Russia
 "Cabinet may make local steel compulsory for govt infra projects: Source")
Building India's steel capacity
Make in India starts with making steel in India
 "Building India's steel capacity")
Steel output likely to rise 6% to 89 million tonnes in 2017
Steel production is expected to grow due to growing economy and increasing urbanisation
 "Steel output likely to rise 6% to 89 million tonnes in 2017")
Steel makers feel the heat of input cost rise
The recent increase in the prices of iron ore and coking coal has made steel making costlier by at least Rs 8000 per tonne for steel producers operating without captive mines.This is likely to put pressure on the margins of steel industries who are unable to pass on the extra cost to consumers in the prevailing market situation where domestic demand is subdued.Out of total 122 million tonnes installed capacity of steel industries in the country, more than 70 per cent are without captive mines and are dependent on iron ore bought from the merchant miners.The price of iron ore lumps (62.5% Fe) has gone up from Rs. 1744 per tonne in September, 2016 to Rs. 3000 per tonne in April, 2017, representing a rise of 72 per cent.Similarly, the FOB price of coking coal increased by 100 percent from USD 150/ tonne to USD 300/ tonne in a span of two weeks in April, 2017. Its September, 2016 price stood at USD 220/ tonne.Spiralling iron ore price has an impact of Rs.2000 per tonne of steel for those .
Higher public spending on infrastructure to boost steel consumption
However, Indian steel sector faces challenges such as high interest rates, huge debt, etc, says SUFI
 "Higher public spending on infrastructure to boost steel consumption")
APL Apollo Tubes to tap coastal areas with new galvanised steel pipes
It is working closely with fabricators & structural engineers to meet requirements of these regions
 "APL Apollo Tubes to tap coastal areas with new galvanised steel pipes")
Is it time to get real about India's steel plans?
The government may struggle to find 91,000 acres of land to pack new 175 mt capacity
 "Is it time to get real about India's steel plans?")
India set to become 2nd largest steel producer by FY19: SUFI
India is all set to grab the second position from Japan as the largest steel producer by 2018-19
Goodluck India to set up production facility in Kutch for steel products
The new facility, to be built with Rs 74 crore investment, will have capacity of 72,000 MTPA
 "Goodluck India to set up production facility in Kutch for steel products")
Steel firms hit record sales, meet production targets
The steel industry is seeing a demand pick-up in construction, automobiles and white goods, sectors
 "Steel firms hit record sales, meet production targets")
Govt seeks ways to revive state steel giant after damning report
SAIL's underperformance could derail govt's target to triple steel production in the country by 2030
