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'India promoting its steel industry with trade protectionism'

'India promoting its steel industry with trade protectionism'

 India is promoting its steel industry with trade protectionism and making China a "primary victim" of trade investigations, China's official media alleged today and asked New Delhi to adopt "open-mindedness" towards the world's largest steel producer.

Govt to fix minimum import price for steel products soon

Govt to fix minimum import price for steel products soon

The government's move to impose MIP comes even as it is considering safeguard duty on certain steel imports.

Steel safeguard duty to improve domestic cos' profits: Moody's

Moody's on Thursday said the 20 percent safeguard duty on some variants of steel imports is credit positive for domestic producers and will improve their profitability.

Govt looking into imposition of safeguard duty on steel import

Decision regarding imposition of safeguard duty on import of steel will not be delayed if the Directorate General of Safeguards recommends restrictive duty, Revenue Secretary Shaktikanta Das said on Friday.

China, Korea, Japan ship 75% of India's steel Q1 imports

Indonesia with 83,300 tonne, Russia (56,720 tonne) and Taiwan (44,840 tonne) were the other major exporters of finished steel to India.

Govt raises import duty on selected steel products by 2.5%

Govt raises import duty on selected steel products by 2.5%

In a much needed relief for domestic producers, the government has increased the basic customs duty (BCD) on certain long and flat steel products by 2.5 percent.

PM to dedicate Rs 16k-cr revamped SAIL Burnpur plant

The event can be seen as a sign of renewed industrialisation drive in West Bengal after the revival of the steel plant.

India to cut export tax on low-grade iron ore to 10% from 30%

India will cut the export tax on low-grade iron ore to 10 percent from 30 percent, Finance Minister Arun Jaitley said on Thursday, a move that will boost shipments of the steelmaking raw material from Goa.

Alarmed by China 'dumping', Minister bats for higher duty on steel

The steel ministry has asked its finance counterpart to raise import duty on the metal amid serious concerns of the industry over "dumping" from China.

Tata Steel given PM's trophy for steel plant

Prime Minister's trophy for the 'Best Performing Integrated Steel Plant' was on Wednesday conferred on Tata Steel.

India imports 2.9 MT steel from China in April-January: Govt

As much as 2.9 million tonnes of steel was imported from China in the first 10 months of the current fiscal, as against 8.1 MT of total inward shipments of the metal, the government said today.

SAIL plans Rs 1,50,000 crore investment by 2030-31

SAIL, country's largest steel maker, has charted investment of Rs 1,50,000 crore till 2030-31 to ramp up steel production from 23 million tonnes to 50 million tonnes.

US steel industry criticises WTO ruling favouring India

The American steel industry today criticised a WTO ruling against the US imposing high duty on imports of certain Indian steel products, an order India hailed as a "significant victory" that will help its domestic manufacturers and exporters.

WTO reverses much of ruling in Indian challenge to US steel duties

This is one of the most complicated appeals decisions ever handled by the 19-year-old trade watchdog.

Steel Min asks FinMin to roll back duty of coking coal imports

The Steel and Mines Ministry has sought rollback of 2.5 percent duty on coking coal imports, imposed in the last Budget, to unburden domestic steel makers.

No anti-dumping duty on certain steel threaded rod from India

In 2013, imports of steel threaded rod from India were valued at an estimated USD 19 million.

India's April steel production growth outpaces world average

India produced 7.015 million tonne steel in April, compared to 6.659 MT in the same month last year.

Steel demand grows lowest in four years at 0.6% in FY'14

"The low growth rate in domestic steel consumption indicated that base level demand conditions continued to be weak during 2013-14," it said.

Steel demand may go up with excise duty cut on automobiles

SAIL Chairman C S Verma recently said the worst phase of steel sector was over with demands going up and liquidation of inventories taking place.

Worst is over for country's steel sector: SAIL chief

Reeling under subdued demand for over two years, the steel sector's worst phase is over and green shoots are visible in areas like prices and inventories, SAIL Chairman C S Verma said today.