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Steel makers may not cut prices anytime soon despite easier imports | Hellenic Shipping News Worldwide


Steel makers may not cut prices anytime soon despite easier imports
Major steel producers may not resort to price correction immediately, but the reduction in customs duty on a range of products and duty exemption granted on import of steel scrap might put pressure on steel firms to hold the current prices in the medium term. Higher demand for steel may, however, may come to their aid.
Steelmakers are not perturbed with the possibility of higher imports from China, since most of the imports come from FTA countries Japan and Korea. However, they are worried about the Budget proposal to temporarily revoke anti-dumping duty (ADD) and countervailing duty (CVD) on imports from China and other countries even as the prevailing prices are way above the reference price. ....

Icra Jayanta Roy , Saurabh Bhatnagar , Nitin Gadkari , Jayanta Roy , Prime Minister , ஈக்ரா ஜெயந்தா ராய் , ச Ura ரப் பட்நகர் , நிடின் கட்காரி , ஜெயந்தா ராய் , ப்ரைம் அமைச்சர் ,

Increased capex to spur steel demand in India, say steel makers & experts


Updated Feb 01, 2021 | 20:03 IST
SAIL Chairman Soma Mondal said the Budget has put emphasis on accelerating the growth momentum of the country by targeting infrastructural growth including road, rails, urban, power, ports, shipping etc
Increased capex to spur steel demand in India, say steel makers & experts  |  Photo Credit: PTI
New Delhi: The increased capital expenditure for infrastructure projects in Union Budget 2021-22 will push the demand for steel in the country, steel players and experts said. To augment the country s infrastructure, the Budget proposed significant enhancing of capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). ....

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Budget 2021: To rein in steel prices, import duties slashed, curbs on imports removed even for China


Budget 2021: To rein in steel prices, import duties slashed, curbs on imports removed even for China
Prices of key raw materials including steel have gone up as strong demand from China at a time when most countries were under a shutdown last year created an acute demand supply gap
Sumant Banerji | February 1, 2021 | Updated 19:25 IST
Representative Image
In a bid to contain runaway steel prices in the domestic market, which have gone up by over 50 percent in some cases, the government has reduced import duties on a host of items. Further, safeguard measures like anti dumping and countervailing duties have been revoked on some products including those from China. ....

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Mining reforms: Industry gives a thumbs up, environment concerns remain


Though the fine print and official confirmation of the mining sector reforms the Union Cabinet approved on Wednesday are yet to come, industry players are elated at the steps taken. There are, however, concerns over implementation at the state level and the environmental impact of mining.
“Directionally, it is a good set of reforms. But since implementation is with state governments, the key lies in how each state executes it at its end. Even today, for a final go or no go, in terms of approvals, it takes about three-four years, and this scares away investors,” said Ritabrata Ghosh, assistant vice president (corporate ratings and industry research) at ICRA. ....

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Steelmakers set to lead India metals to best quarter in decade


Steelmakers set to lead India metals to best quarter in decade
(Image courtesy of JSW Steel)
India’s steelmakers are on course to leading the country’s metal index to its biggest quarterly gain in more than a decade, as consumption recovers and prices surge globally.
The S&P BSE Metal Index has surged by around a third so far in the three months through December, jumping the most since the quarter ended June 2009. Metal companies are in an earnings upcycle after two years of downgrades, and steel demand and pricing has improved sharply, according to a Jefferies Group LLC report this month. ....

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