Page 8 - Steel
Rising coal prices temper steel's recovery hope
As industry bellwether ArcelorMittal crimps fourth quarter results, fears grow other players might also be hurt
 "Rising coal prices temper steel's recovery hope")
Steel's woes end after five-year slump
China's focus on infrastructure spending to give a thrust to its economy fires up demand once again
 "Steel's woes end after five-year slump")
Steel turns dearer as coking coal price surges
Major flat-steel producers have increased prices by Rs 1,500/tonne; impact may be seen in fourth quarter
 "Steel turns dearer as coking coal price surges")
Anti-dumping duty imposed on Chinese steel products
Centre has imposed anti-dumping duty on imports of steel wire rods from China to protect domestic manufacturers from cheap in-bound shipments. The Department of Revenue in a notification yesterday said anti-dumping duty is being imposed for six months on import of wire road of alloy or non-alloy steel from China. The measure follows recommendation by the Directorate General of Anti-Dumping and Allied Duties (DGAD) that steel wire road was being exported by China "below the normal value" and "the domestic industry has suffered material injury" because of such imports. In its September 27 finding, the DGAD also stated that "the injury has been caused by the dumped imports of the subject goods" from China. An anti-dumping duty equivalent to the difference between the landed value of steel products and USD 499 per tonne will be imposed on products exported by Minmetals Yingkou Medium Plate Co Ltd. In case of other producers, the anti-dumping duty would be the difference between the ...
Steel makers oppose anti-dumping duty on met coke
The commerce ministry had recently recommended a $25 per tonne levy on such imports
Capacity consolidation will improve cost efficiency of steelmaking
To the extent that capacity has been brought under a single umbrella, the experiment has given good results in India
 "Capacity consolidation will improve cost efficiency of steelmaking")
Minimum import price on steel does little for debt servicing
Lenders see renewed interest from investors in leveraged companies
 "Minimum import price on steel does little for debt servicing")
Steel firms likely to raise price after MIP extension
Brokerages see no room for upward price revision in flat products, long products could have limited scope
Steel product imports rise faster; creating inverted duty structure: EEPC India
Imports for the finished goods in the form of products of steel and iron have been increasing in the range of 22.5% and 51% between June and August this year
 "Steel product imports rise faster; creating inverted duty structure: EEPC India")
Steel firms gear up for another hike in prices
Big companies like Essar Steel, JSPL, JSW Steel and SAIL to pass on higher cost of production to customers
 "Steel firms gear up for another hike in prices")
Two top China steelmakers announce merger to combat glut
China is trying to overhaul its lumbering state sector and especially its steel industry
 "Two top China steelmakers announce merger to combat glut")
Govt puts more steel grades under quality control order
Aims to check rampant import of cheap steel products into the country, especially from China
 "Govt puts more steel grades under quality control order")
SAIL-Arcelor JV eyes Gujarat, Maharashtra for auto steel
Sources close to the development said the equity structure was likely to be finalised once the joint venture agreement was signed
Surplus capacity triggers competition among steel makers
Low steel prices, as a result of dismal global demand growth globally, were not leaving any margins for producers
Steel industry output expected to rise
Demand may pick up after monsoon; however, realisation might not change much as costs are rising
US affirms duties on steel from Brazil, India, UK, South Korea
Russian imports will not face duties, because of a lack of a finding of injury
Steel companies plan to increase prices
The price hike is expected to push the rate of hot-rolled steel to Rs 39,000 a tonne and that of cold-rolled to Rs 42,000
Anti-dumping duty to help domestic steel firms overcome weak demand:ICRA
Debt protection metrics of steel players to remain depressed in near term
China, India push up global steel output by 1.4% in July
China's crude steel production for July was 66.8 MT, an increase of 2.6% compared to July 2015
Steel output likely to hit 127.1 mn tonnes by 2020: BMI
The country's share of global steel production will accelerate from 5.8% in 2016 to 7.8% in 2020, it added
