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NEW DELHI: India's environment ministry has found that state-controlled Rashtriya Ispat Nigam Ltd (RINL) expanded a steel plant without its approval, according to a government letter seen by Reuters.

MONTATAIRE: The world's largest steel maker ArcelorMittal today asserted that its bid for debt-laden Essar SteelNSE 0.00 % is "eligible" and indicated that any pay off towards outstanding dues of Uttam Galva, a firm in which it was a minority shareholder till sometime back, would be a "goodwill gesture".

HYDERABAD: Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant is targeting Rs 19,000 crore revenues and also net profit during the current fiscal, after suffering losses for the past few years, a senior official said.

Domestic steel giants SAILNSE 0.52 % and RINL spent an average of about Rs 7,804 crore annually on maintenance of plants in the last three financial years, Parliament was informed today.

Breaking their silence, LN Mittal and son Aditya talk about the bid for Essar SteelBSE 0.41 %, India and the recent controversies. Edited excerpts:

2018 is likely to exhibit a more or less sustainable scenario with no major shock as the so-called Chinese juggernaut continues to trudge along a not-so-smooth roadway. The external shocks may originate from steep rise in oil prices, shrinkage in demand in US and EU arising out of strict protective measures and further hike in US interest rates.

NEW DELHI: India's export of finished steel shrank by over 30 per cent to 0.616 million tonnes (MT) during January 2018, according to the government's Joint Plant Committee (JPC).

Rising raw material costs, high customs duties and lower than expected demand growth seem to be major pain points that steel sector players want the Budget to tackle this year. Companies feel improved supplies of locally available inputs like coal, iron ore and graphite electrodes, removal of customs duty on key raw material like ferro-nickel and scrap for stainless steel and an overall thrust on demand generation through higher infrastructure spending will make life a bit easier for them.

NEW DELHI: Ahead of the budget, the stainless steel industry has asked the government to remove import duty on ferro-nickel and stainless steel scrap.

Surging steel prices and a new Indian insolvency law have set the stage for an industry-defining battle between tycoons and producers for more than $26 billion of the sector's most-coveted assets.

Domestic steel demand is tipped to grow in the near term on the back of strong demand led by government spending on infrastructure. The demand boost is set to partially offset cost pressures that domestic companies are likely to face in the near to medium term, ratings agency ICRABSE -1.67 % Limited has said in its latest quarterly update on the steel sector.

Operating conditions in India will remain most supportive among Asian steelmakers, with robust domestic demand and protectionist measures, despite increase in raw material prices and new capacity, Moody's Investors Service has said in its latest report, Asian Steel Outlook-2018.

The government will ensure rising steel prices do not lead to increase in cost of infrastructure projects.

Top global players including Tata SteelBSE -2.29 %, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar SteelBSE 0.41 % which is going through the insolvency resolution process.

India’s automobile sector is giving the economy a Diwali sparkle. The country’s passenger vehicle sales grew the fastest among major automobile markets in the world in the fi rst eight months of the year, signifi cantly ahead of auto giant China, albeit on a lower base.

The government has initiated an anti-dumping probe on imports of straight length bars and rods of alloy steel from China following complaints from the domestic industry.

Make in India initiative will help elevate country's manufacturing sector as it aims to increase share of manufacturing in the GDP to 25 per cent from current 16 per cent and to create 100 million new jobs by 2022.

Despite India being the world's third largest producer of steel, it still is dependent on imports for some products and "there is dire need to develop technologies to produce electrical grade and auto grade steel in India to become self-sufficient.

NEW DELHI, AUGUST 13: Domestic steel manufacturers have alleged that importers are circumventing the anti-dumping duty levied on steel products.

Talking to ET Now, Naveen Jindal , Chairman, Jindal Steel & Power , says GST is helping to reduce taxes on steel and also to pass on the benefits to the consumers.

Pallavi had joined Harley Davidson in December 2009 and since then has served the company in various roles.

PUNE: Bajaj AutoBSE 0.25 %, India's largest two wheeler exporter is likely to partner Europe's iconic motorcycle brand Ducati, encouraged by its existing partnership with KTM, Europe's largest motorcycle maker.

KOLKATA: State owned steel major, Rashtriya Ispat Nigam Ltd (RINL), has decided to hitch a ride on the Indian Railways as part of a major brand promotion exercise for its brand ‘Vizag Steel’. As part of the exercise, the Samta Express has been renamed as Vizag Steel Samta Express. The Hazrat Nizamuddin –Visakhapatnam daily was flagged off by the union railway minister Suresh Prabhu and steel minister Chaudhury Birendra Singh at Nizamuddin station on Thursday.

Major domestic steel companies are planning to raise product prices by a whopping Rs 6,000 per tonne from January as an unprecedented rise in coking coal rates and weak retail sales due to demonetisation are hurting margins.

New Delhi, 8th December 2016: Steel is a key component for a country"s progress and Indian Railways being the most cost-effective medium to promote a product, Vizag Steel has chosen to promote its brand image through Samta Express, said Chaudhary Birender Singh, Union Minister of Steel while flagging off the train along with Shri Suresh Prabhu, Union Minister of Railways.

Government extended minimum import price (MIP) on 19 products for two months to protect domestic steel industry from below-cost imports. Steel Secretary Aruna Sharma believes that steel capacity will reach 150 MT in couple of years.

Hyderabad, Oct 8 (PTI) Rashtriya Ispat Nigam Limited, the corporate entity of Vizag Steel has roped in badminton champion and Rio silver medallist P V Sindhu as its brand ambassador.

Union Minister for Steel Birender Singh today said India would become the second biggest steel manufacturer in the world by year-end.

The steel industry, one of the top contributors to the banks’ non-performing assets, is slowly turning around and companies are beginning to pay interest dues to banks, Finance Minister Arun Jaitley said on Friday.

The global steel community met in Paris this month for a fresh attempt to resolve the crisis facing the steel industry worldwide.

Domestic steel players such as Steel Authority of India Ltd have sought a reconfiguration of the minimum import price on steel products which would include expanding the list of items covered under the measure as well an extension of the duration.

The U.S. International Trade Commission has put duties on hot-rolled steel imports the companies said were unfairly hurting the domestic steel industry.

Shares of AK Steel Holdings, U.S. Steel, and Cliffs Natural Resources didn't respond as you might have thought after more anti-dumping tariffs were imposed on imported steel.

Readers of a contributed article from New Zealand Steel general manager John Nowlan, published in the Herald on Thursday, may have been surprised to learn our trade policy makers are willing to expose domestic industries to imports "dumped" on this market below their cost of production if the dumping passes a test of public interest. Many might wonder how imports of below-cost steel could possibly be in the public interest if it damages a domestic manufacturer.

Although the storm had been brewing for many months, it was a year ago the public first got wind of the crisis battering Britain’s steel sector.

China agreed at the G-20 summit to some steps toward reducing exports from state-owned industry, including the creation of a global forum studying overcapacity in the steel industry.

In a fresh bid to claim the entire local use of iron ore, the steel industry has protested at government’s proposed move to reduce export duty on the steel-making raw material.

ArcelorMittal SA’s new CEO, Wim de Klerk, says the company’s new pricing policy for sales of flat steel products, agreed with the government, does not have precedent elsewhere in the world.

The Dutch government must do‘everything in its power’ to retain the steel industry in IJmuiden at its current level, says Ineke Dezentje Hamming-Bluemink, chairman of metal industry organisation FME, in Friday’s Financieele Dagblad.

Stainless steel industry body ISDAA today slammed claims that registration for the Stainless Steel Quality Control (QC) Order, 2016 is lengthy, saying such comments are "factually incorrect".

JOHANNESBURG – Trade union Solidarity has warned it's only a matter of time before the steel industry shuts down for good.

Johannesburg - If there is no urgent intervention, the South African steel industry is at risk of collapse, trade union Solidarity warned on Tuesday.

Investing heavily in such industries as steel, cement and oil refining is not the right path for Vietnam now, a former senior investment official has said.

China’s stores of steel rose in August by the most in four months, lending further urgency to recent restatements of Beijing’s goal to cut overcapacity.

Hopes the steel crisis which has cost thousands of UK jobs might be easing have been dashed by new production data for the global industry..

Union leaders, Opposition MPs and even the Chamber of Commerce are pressing the federal government to help Canada's struggling steel industry.

A temporary protection of the Indian steel industry against cheap Chinese imports is acceptable but in the long run the country is cable enough of competing with its global peers, an industry body said today.

Lost in the recent crush of cheap imports that sent U.S. steel producers scrambling to the federal government for trade relief is an American manufacturing success story.

In this interview with ET Now, TV Narendran, MD of Tata Steel talks about MIP extension, Kalinganagar plant, steel industry and more. Edited excerpts:

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Naveen Jindal, chairman of Jindal Steel and Power Ltd (JSPL) and a former Congress Party parliamentarian, is an unhappy man. It’s not that he doesn’t appreciate the measures the National Democratic Alliance (NDA) government has recently taken to bail out a once-thriving domestic steel industry.

A three-day international exhibition on Minerals, Metals and Metallurgy Materials (MMMM) 2016 attracted exhibitors and visitors from around the world here.

The domestic steel industry got further protection from cheap imports after the Finance Ministry imposed a provisional anti-dumping duty on hot-rolled flat steel products from six countries, including China and South Korea, for a period of six months.

The long-term solution to the woes of Indian steel industry would continue to be a big push to generate fresh demand for steel by the various end-use sectors

The domestic steel manufacturing industry, which witnessed shutdown of over 100 units in Mandi Gobindgarh and Ludhiana in the last three years, is now hoping to revive with the Metal Scrap Trade Corporation (MSTC) introducing an online shopping portal ‘MSTC Metal Mandi’ for selling and purchasing iron and steel scrap at one platform on Thursday.

Government extended the minimum import price (MIP) on 66 steel products for a period of two months till October 4. Speaking to CNBC-TV18's Anshu Sharma, Steel Minister Chaudhary Birender Singh said that most items are covered under the anti-dumping duty and the government is looking at more measures to help the industry in this period of 2 months.

The Indian steel industry does not see MIP as a perpetual protectionist step, but as a necessary temporary measure that will allow time for recovery.

KOLKATA: The health of the domestic steel industry in the second half of FY2017 would critically depend upon the Government's decision on MIP extension beyond August 2016, and the final outcome of the recent anti-dumping investigations initiated by the Directorate General of Anti-Dumping and Allied Duties, ratings agency ICRABSE 1.31 % said it its latest sector report.

Tata Steel might finally see some better days ahead for its European units as world’s top economies seem to have had enough of China’s domination in the steel market.

A new report attempts to quantify government subsidization of Chinese steel and the Fed has left interest rates alone again.

Industry bodies from the metal and stainless steel sector have approached Prime Minister Narendra Modi and Steel Minister Chaudhary Birendra Singh seeking their intervention to shelve the Steel Quality Control (QC) Order, 2016.

We are in the middle of the 2Q16 earnings season, and Nucor (NUE) and Steel Dynamics (STLD) have already released their 2Q16 earnings. U.S. Steel (X) and AK Steel (AKS) are expected to release their 2Q16 earnings on July 26.

China's decision to levy anti-dumping duties on electric steel products from Japan was unjust and regrettable, the chairman of the Japan Iron and Steel Federation said on Monday.

THE Minister of Industry and Commerce, Mike Bimha, has revealed in an interview with this newspaper that government is working tirelessly to ensure the revival of the country's steel industry, which for decades had been dependent on the Zimbabwe Iron and Steel Company (Zisco), once one of Africa's largest integrated steelworks.

Pressure is building on India at the World Trade Organisation (WTO) not to extend the minimum import price (MIP) on steel beyond the first week of August when it is slated to lapse.

A newspaper in a Communist party-ruled country will not print an article running down a foreign government for its trade action to discourage import of low-priced products harming local manufacturers without official sanction.

An exhibition depicting the demise of the steel industry in Wales has gone on show in Cardiff. Steel, on display at the Senedd in Cardiff Bay, features artwork created by members of the community

RenewableUK's Maf Smith explains how the expansion of wind power in Scotland means increasing demand for steel for turbines.

The decision to leave the EU is a body blow for the British steel industry and the new prime minister must do more to protect it, an MP has warned.

The global steel industry is "very vulnerable" because of a huge oversupply problem, a Tata Steel executive has told the BBC. Last week, Tata Steel said it was in joint venture talks with Germany's Thyssenkrupp.

BEIJING: 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.

Beijing: 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.

China uses an incredible amount of steel. It is the No. 1 steel producer, exporter and consumer in the world. Currently China produces almost half the world's steel -- a big increase from just 10% in 2005. A little over 10 years ago, the U.S. produced 14% of the world's steel; it now only produces 4%.

PETALING JAYA: The local iron and steel industry will bear an additional cost of about RM100 million a year due to the natural gas price increase that will take effect from July 15, according to the Malaysian Iron and Steel Industry Federation (Misif).

To the people of the Monongahela Valley, do not be deceived. Donald Trump’s statements that he will revitalize the steel industries in Pittsburgh and the Mon Valley are without merit.

Britain’s steel industry could “crumble” because of the Brexit referendum, according to union leaders, who are now demanding an urgent meeting with the Government over their concerns.

BREXIT is the new buzzword generating maximum heat in the media and threatening the stability in an otherwise low-growth syndrome settling in Europe. No worthwhile estimates are available on the possible impact, positive or negative, on either side apart from a few conjectures and emotional outbursts. It is also possible to take a review of the referendum outcome through another set of voting. Under the circumstances, it is interesting to take a brief impact analysis of the already-beleaguered steel industry in the UK and the possible outcome on India.

As Britain decides to exit the European Union, all the three trade unions in the region — Unite, GMB and Community — have raised concerns over the fate of its 146,000 (active and inactive) members, part of the British Pension Scheme, under Tata Steel’s UK operations. In a telephonic interview with Aditi Divekar, Unite’s national officer (metals and foundary) Harish Patel talks about the nervous element that has set into the industry post referendum.

The director of UK Steel has released a statement saying the decision for the UK to leave the EU will send shockwaves through the UK steel industry.

Mumbai: Lower input costs and improvement in domestic realisations due to reduction in imports may lead to gradual recovery in the domestic steel industry, Care Ratings has said in a report.

Tata Steel on Saturday said the imposition of minimum import price to prevent cheap imports should continue in the interest of domestic industry.

Ranchi, Jun 15 (PTI) Union Steel and Mines Minister Narendra Singh Tomar today assured all possible help to develop steel industry and mining sector in Jharkhand.

A panel of experts at a steel crisis summit in Sheffield agreed the Government was finally doing the right thing by supporting the sale of Tata Steel - and remaining in the EU was best for the industry.

China’s economic deceleration was hit hard in 2015 when the stock market floor suddenly fell out and Chinese indexes lost more than 30% in three weeks before trading was temporarily halted. Commodities hit rock bottom prices as demand fell and the global economy stumbled in the wake of the huge gap left behind by China.

The steel ministry has recommended to the Prime Minister’s Office (PMO) a host of measures aimed at brightening fortunes of the steel industry. The measures include extension of the minimum import price (MIP) for at least another six months from August 30, debt restructuring and rationalisation of freight rates.

The government has agreed to a request from the steel industry to commission research on ensuring the long-term future of the sector, which is beset by falling prices and overproduction.

China has finally promised to rein in excess steel output that may give some breathing space to steel industries in the developed world, whilst the country has also, among others, pledged to undertake a package of structural reform policies that would enable its steel industry to be more responsive to market forces.

NEW DELHI, JUNE 6: The domestic steel sector, which has been plagued by low prices, high-level of imports and muted demand growth is showing signs of an early recovery, according to rating agencies and industry analysts.

Europe's steel industry "will not survive" if the European Union grants China a special international trading status, an industry body warned.

The Chronicle’s front page from June 3, 1952, covers the end of the federal seizure of the steel industry after the Supreme Court’s decision in Youngstown Sheet & Tube Co. v. Sawyer, prompting another walkout.

Post the operationalisation of MIP, domestic hot-rolled coil (HRC) prices have witnessed a sharp increase of about 25 percent from their lows reached in February 2016, according to Icra's quarterly research update report on the steel industry.

Imposition of a minimum import price (MIP, from February) is not benefiting the entire domestic steel industry. While the measure has led to curtailment of cheaper import to some extent, the move has also increased those of finished goods, idling capacities of small steel manufacturers and downstream industry.

Transformation of the troubled metal industry turns tricky as both output and prices rise in April; Wang Zhengqiang, 52, retired eight years early during a layoff at a steel mill in Tangshan, North China's Hebei province.

NEW DELHI: India, the world's third largest steel producer, was among the top 10 importers of the alloy last year, according to the latest data by the global industry body World Steel Association (WSA).

The government has a vision to increase steel production to 300 million tonnes, Union Minister of State for Steel and Mines Vishnu Deo Sai said on Sunday.

Previously, we looked at some steel demand indicators from the nonresidential construction, energy, and automotive sectors. In this part of the series, we’ll see how the residential housing sector, a major steel consumer, is shaping up this year.

Over the past few years, the steel industry has been reaping the benefits of accelerating growth in the developing economies. Asia, particularly China, was the principal growth driver. However, the recent turnaround has rendered the scenario slightly concerning as China began to add an element of uncertainty to the outlook.

China, the world’s top steel producer, is not encouraging large exports of the product and has taken measures to control shipments offshore, the country’s steel association said on Tuesday.

Energy Minister Andrea Leadsom has said there is “huge potential” for the UK steel industry to supply major energy projects.The minister said she was “rattling” developers and pushing them to use the UK supply chain.

For those of us who live somewhat before, the possibility that the British steel industry ought to be under risk is both well known and unbelievable.

Under Make in India, steel capacity target is set at 300 mn tonnes by 2025, and to attain that, companies saddled with Rs.3.1 tn debt would have to invest another Rs.12 tn

The seven bidders vying to buy Tata Steel's UK business are racing to finalise their bids ahead of Monday's deadline, City A.M. understands.

The earnings season for 1Q16 is nearly over, and most steel companies have reported their earnings for the quarter. In this series, we’ll explore some of the key highlights of major steel companies’ 1Q16 earnings.

UK steelmakers have cheered a European parliament resolution opposing plans that they believe would kill off the industry by permanently opening the floodgates to cheap Chinese steel.

Jianlong Steel Holdings Co., the second-largest private mill in China, is seeking to more than double capacity in the next five years even as the country vows to slash its bloated industry amid global oversupply.

"It’s exactly the action we have been pushing hard for in Europe and this type of investigation, the first of its kind, means anti-dumping tariffs can be imposed much earlier"

The government is looking to create a separate fund under the NIIF, the country’s first sovereign wealth fund, to address the capital requirement of domestic steel companies.

The amendments to the Mines and Minerals (Development and Regulation) Act will streamline the consolidation process in the cement and steel industry, as companies will be able to transfer captive mines to the acquirer which was acquired by them in the pre-auction era, says India Ratings and Research (Ind-Ra).

As India moves towards $ 10 trillion economy and aspires to achieve ambitious target of manufacturing contributing 25% to GDP, the steel industry is poised to play a pivotal role, said Ms Aruna Sundararajan, Secretary, Ministry of Steel, Government of India in a session on Steel at the Conference on Championing Manufacturing in India - Excellence, Growth and Employment.

US raw steel output spiked last week, and the industry's capability utilization rate rose to 74.7%, according to American Iron and Steel Institute data released Monday.

The steel ministry will pitch for a dedicated fund for the capital-starved steel sector under the National Investment and Infrastructure Fund (NIIF), India’s first quasi-sovereign wealth fund, reports fe Bureau in New Delhi.

The concern of the member is justified. It has come to the notice of the government that the imports from China, Japan and Korea have increased, which is creating trouble for the domestic industry and also causing losses to it.

NEW DELHI: Admitting that steel industry in India, one of the fastest growing steel producing nations, is passing through "stress" for some time due to rising imports, the government on Wednesday assured Rajya Sabha that it will take all steps to promote and safeguard the sector.

The PMI for the steel industry rose 7.6 points month on month to 57.3 in April, according to the China Steel Logistics Professional Committee. A reading above 50 marks growth and below 50 suggests contraction. It’s the first time China’s steel PMI has beaten 50 in the past two years and marked its peak since March 2013.

China steel is hated around the world for its low cost, over supply, price cutting impact on its competition. U.S. Steel is lobbying congress to make recent import duties of over 233% stick this summer. Meanwhile, China’s steel production is declining. It’s going to decline even more. And as far as global shipments are concerned, China steel’s punching power is close to peaking, according to Clarksons.

A start-up steel company led by Yorkshire businessman Tony Pedder could be poised to enter the bidding war to buy part of Tata’s UK steel operations.

The Malaysian Iron and Steel Industry Federation (Misif) and the Malaysia Steel Association (MSA) have put the current tight steel supply situation domestically and internationally to the recent cancellation of steel supply contracts by Chinese sellers.

Business secretary to appear at business select committee on Thursday with Tata chief executive and union leaders. The business secretary, Sajid Javid, is to be questioned by MPs about the crisis in the steel industry and the government’s efforts to save thousands of jobs.

HANOVER: Prime Minister David Cameron said on Wednesday there was no guarantee that efforts to save the British steel industry would be successful, trying to manage expectations that the government can save thousands of jobs.

Steel is essential to the modern world. It’s used to build buildings, roads, railways, and other infrastructure. For a developing country, steel is also essential for economic growth.

We highlight four major changes that have taken place of late: Firstly, the inventory cycle has bottomed out (globally, and not just in China). Given the extent of destocking and current inventory levels, the restock this time could last more than the usual 6-9 months. Any uptick in demand (expected in 2H) would further elongate this.

Taking into account the enormity of the stress in the domestic steel industry, India has engaged Boston Consulting Group (BCG) to suggest ways to tackle the issue of non-performing assets in the sector.

A global glut of steel and falling prices have put the local steel industry under massive pressure. CAPE TOWN -Trade and Industry Minister Rob Davies says the government is determined to maintain the country’s primary steel-making capacity.

Steelmaking in Britain has the ability to survive in the face of tough competition from China if it can rise to the challenge of becoming more agile and creative, according to an industry expert.

China has agreed to tackle its overcapacity of steel production which is being blamed for the crisis in the industry, according to the UK Government. Talks in Brussels with countries including the Chinese were described as "constructive" by Business Secretary Sajid Javid.

The steel industry in Britain can be saved but it will take more radical action than any yet proposed, a new report has said.

U.S. steelmakers gave the U.S. Department of Commerce and the Office of the U.S. Trade Representative an earful on the steel import crisis in America for a second day Wednesday, saying that 12,500 layoffs nationwide showed a need for immediate action.

India has found prima facie evidence that six countries — China, Japan, Korea, Russia, Brazil and Indonesia — dumped steel in the country, hurting the domestic industry.

A researcher from the University of Bath has been awarded a new grant to develop an innovative way of assessing a key stage of the production of steel, greatly benefitting the competitiveness of the UK and EU steel industry.

Steelmaking has a future in Australia, but only with new business models and technologies. Arrium, if it survives its administration, must develop “smart specialisation” strategies that meet the demands for steel products in growth industries in Australia and internationally.

Having evinced interest in acquiring certain assets of Tata Steel UK, Indian-origin businessman Sanjeev Gupta today met UK’s Business Secretary Sajid Javid and said he is waiting for Tatas to start the “sales process” and promised that there will not be any major job cuts.

In just six days the steel crisis has become the defining issue in British politics. Reputations, not just of individuals but whole institutions, from Cardiff through London to Brussels, are on the line. One government – the one in Edinburgh – has already passed the test with flying colours, with the world’s shortest ever nationalisation single-handedly saving the Scottish steel industry.

The Government must step in to maintain production at Tata’s loss-making UK plants or risk customers abandoning them, signing a death warrant for the British steel industry, unions have warned as the crisis engulfing the sector intensifies.

Union leaders will meet to discuss the crisis gripping the steel industry as efforts continue to save thousands of jobs. Shop stewards from steelworks across the country will hold emergency talks in London on Monday and will continue pressing the government for help.

Prime Minister David Cameron promised voters last year that his Conservatives would be the true working-people’s party in Britain. Try telling that to the Welsh steel workers at Port Talbot whom Mr. Cameron’s green-energy policies are about to push out of their jobs.

New Delhi, Mar 30 (PTI) Steel industry today welcomed the imposition of safeguard duty on import of some products till March 2018, to protect domestic industry from onslaught of cheap supplies from China amid a global glut.

The steel industry was dealt a hammer blow on Tuesday as it emerged that Tata plans to completely withdraw from its British operation, putting thousands of jobs at risk.

India has long suffered the scourge of dumping of goods across sectors as it did not set standards for various products manufactured and sold in India.

As the backbone of American manufacturing, the steel industry is essential to the world's water and food supply, energy generation and national security. The U.S. military uses steel extensively, ranging from aircraft carriers and nuclear submarines to missiles, armor plate for tanks and every major military aircraft in production. There are a lot of reasons to take pride in American steel.

The metals tycoon Sanjeev Gupta has vowed to take on the “herculean task” of reviving British steel, as his Liberty House firm closes in on a deal to save two Scottish steel mills.

The government is readying a financial package to help revive the steel sector and also prevent bank loans advanced to steel firms from turning bad. The steel and finance ministries are working on a package for the steel sector that will be finalized in the next two months, steel secretary Aruna Sundararajan said.

Between Lake Superior and the Great Lakes of North America lies a narrow canal, just 1.6 miles long. Each year some 10,000 ships pass through the Soo Locks of St Marys Fall canal, nearly all the iron ore used in the US passes through and millions of American jobs depend on them staying open. But age and neglect could soon put those jobs under threat.

SCHERERVILLE — The American steel industry suffers from a negative perception, but it’s still the most efficient in the world, U.S. Rep. Pete Visclosky said. “Too often people castigate steel,” the Democrat said. “One of the problems I think they face nationally is perception.”

Referring to steel prices, Narendran said he did not wish to predict their range for the next few months, but said domestic steel price was still lower than minimum import price (MIP) imposed by the government in February.

Manufacturing leaders said greater action was required to support the embattled steel industry, after demands for lower business rates were ignored in George Osborne’s Budget.

It will likely be some time before the steel industry benefits from the recently signed US highway transportation bill, according to Adam Parr, vice president of policy and communications at the Steel Manufacturers Association.

The steel crisis is continuing to claim jobs in UK industry, with a round of redundancies at Sheffield-based Outokumpu and a warning from its parent company that the UK operations could be closed down.

A full recovery from the worst ever crisis for the global steel industry may take as long as five years, says the head of Japan’s second-largest steelmaker, who is predicting an acceleration in industry-wide consolidation.

Minister of Steel and Mines Narendra Singh Tomar in a statement laid on the Table of the Rajya Sabha today informed the House that India is the 3rd largest crude steel producer in the world in 2015 as per provisional rankings released by the World Steel Association (WSA).

Any economic development initiative created in Sault Ste. Marie should include some form of plan that includes the steel industry, but the others cannot be forgotten.

One unique feature of this year’s Budget is that while it does not have a major direct impact on any particular industrial segment, almost all industry players are indirectly influenced by budgetary announcements.

THE group which helped to save Black Country-based steel group Caparo is reported to be behind a major new deal which could help save the British steel industry. However, the deal being brokered by the Gupta family’s Liberty Group could be at risk because of high energy costs.

Slower economic growth has made overproduction in China’s steel industry a burdening problem. Premier Li Keqiang has called for greater efforts to deal with it.

Ardent observers of the steel trade press might have concluded the month of March came in like a lion after reading the top headlines of Tuesday’s Platts SBB Global Briefing.

The UK steel industry is "drowning" in a flood of cheap Chinese imports, which will get worse after the United States decided to impose new tariffs, a union leader has warned.

A pair of expected Commerce Department rulings and a future meeting with corporate leaders have at least one local official feeling more optimistic about the future of the local steel industry.

KOLKATA: The budgetary proposals announced by the Finance Minister will help the industry meet its growth target and reach its full potential. However, the doubling of Clean Energy Cess from Rs 200 to 400 per ton would further increase the input cost for domestic producers, T V Narendran , MD Tata SteelBSE -0.04 % (India & SE Asia) said commenting on the budget proposals.

Steel is used as an input in different industries and any further rise in steel prices will increase the cost of production of basic metal, non-metal products.

The steel industry would look forward to an early review of the policy to make movement of bulk commodities competitive, Tata Steel managing director (India and Southeast Asia) T V Narendran said in his reaction to Railway budget.

Budget 2016 should propose remedial measures to ensure that domestic steel producers are shielded from unbridled imports at unfair prices

Ficci has asked the government to raise the import duty on all steel products to 25% in the upcoming Budget 2016, as demand slows down in China, the world's largest steel producer and consumer.

Now viewing the third restructuring effort since first getting into politics, Butland urges city council to lead an initiative that would raise the steel industry and help the Sault Ste. Marie steelmaker in its restructuring process.

A downsize of China's massive steel industry cannot come fast enough for Australia, but it will take years before local steel producers see relief.

Labor is turning the screws on the Coalition over the future of steel workers in the South Australian town of Whyalla, saying the industry is under attack because of “rightwing economic textbook” ideology on trade.

The brokerage house acknowledged that amidst damage to their financials, most companies have likely cut spending sharply, including even maintenance spending

Dayton told reporters Wednesday that he’s already partnered with Iowa Gov. Terry Branstad on the effort to restrict foreign steel imports. They plan to enlist others during this weekend’s National Governors Association Winter Meeting in Washington, DC.

The Indian Steel Association has sought a special financial package from the Centre and the Indian Banks’ Association, similar to the support provided to the textile and sugar industries.

The Modi government’s ‘Make in India’ campaign is aimed at transforming the country into a global manufacturing hub and creating millions of jobs for those who will join the workforce in the coming years. With the global industrial powerhouse China moving towards consumption-led growth, the time is ripe for India to raise the profile of its manufacturing sector. But a high-cost domestic steel industry does not augur well for the ‘Make in India’ initiative.

Bosses from Britain’s embattled steelmakers are to confront European officials to demand stronger action to help the industry survive the current crisis.

The metals sector has seen significant downgrade activity this year. Most of these downgrades have come after the 4Q15 earnings release. Although most steel companies reported better-than-expected earnings, analysts seem concerned about the industry’s near-term outlook. Earlier this year, we looked at the possibility of analyst downgrades in the steel industry.

There is no guarantee that the steel industry will avoid further job losses, a senior Tata executive has told MPs. The Welsh Affairs Committee was taking evidence after the firm announced 750 jobs were going in Port Talbot.

Employers and employees from the entire European steel industry will be attending a march in Brussels on 15 February to show support for fair trade, growth and jobs in Europe, as well as to protest against Chinese dumping on the EU market and the granting of Market Economy Status (MES) for China.

By imposing a minimum import price ranging from $341 to $752 a tonne on 173 steel products, the Centre has provided relief to domestic steel manufacturers who were hit by cheap imports and the global slowdown in commodity prices.

Like much of the commodity complex, the last 12 months have been brutal for the steel industry, with prices falling to 12-year lows as currency headwinds, oversupply and dwindling demand prevail, resulting in mass job cuts in the sector.

India on Friday set a floor price for imports of steel products to deter countries such as China from undercutting local mills, the first time it has taken such a step in over 15 years even as the country remains the world's only major growing steel market.

WALES’ steel industry is “fighting for its life” following the announcement of more than 1,000 job losses at plants in Newport, Port Talbot and elsewhere, a Welsh Government minister has said.

China’s steel producers, which account for around half of the global supply, saw their production drop in 2015 for the first time in a quarter century. But exports have gone up, and they are expected to increase in 2016: A combination of slumping domestic demand, excess inventory and production, and an increasing gap between supply and demand means that the world will need to start bracing itself for a flood of more cheap Chinese steel.

The year 2015 may be specially remembered as a year of slowdown for the global economy, which grew by only 3.1% according to the latest IMF estimates. We have also witnessed a steep decline in prices of oil, metals and other commodities including foodgrains and services. Hardly any sector could cash in on the declining prices of raw materials, as inventories of finished products went up due to a fall in demand.

Union Minister Narendra Singh Tomar today said additional steps will be taken to protect domestic steel industry, which is facing a bad patch, in wake of cheap Chinese imported steel.

The steel industry is warning of job losses as a result of the EU's failure to impose high import tariffs on a steel product made in the UK.

SEOUL -- Steelmakers worldwide continue to struggle with low prices amid a flood of cheap Chinese products, with South Korean leader Posco falling into the red for the first time in 2015.

Steel production in India rose 2.6% during the year over an output of 87.3 mt in 2014 even as world steel output went down 2.8% in 2015

The global slowdown has roiled commodity markets and lowered steel prices to more-than-a-decade-low levels. Speaking to Bloomberg TV India, Kalyani Steel Managing Director RK Goyal said China’s decision to cut steel capacity may not be of any relief to India as they already have a massive production capacity of around 1.25 billion tonne, and produce 800 million tonne. Until and unless the Centre takes some drastic measures of anti-dumping or safeguard duties or minimum import price, everything is going to be very gloomy, he said.

In an interview with CNBC-TV18’s Menaka Doshi, Sajjan Jindal, CMD of JSW Steel said that the minimum import price of steel should be raised to USD 420 per tonne from the current USD 300 in order to protect the domestic industry from Chinese imports.

Indian steel manufacturers, which were under pressure due to overcapacity in the Chinese market, may find some relief. The government of China, which is the largest steel producer and consumer in the world, has laid out a reform plan to improve the high supply issue by shutting down the junk companies. In addition, major Chinese steel players have increased prices of finished steel.

Neyveli Lignite Corporation (NLC), that functions under Ministry of Coal, is set to foray into steel industry. The company is planning to set up an R&D integrated plant for Coldry-Matmor processing on pilot basis.

Firm makes announcement days after Tata Steel said it plans to cut 1,050 UK jobs, with both criticising the government

Mills in China, which make half of global supply, churned out less last year for the first time since at least 1991 as local demand dropped, prices sank and producers struggled with overcapacity. Crude steel production shrank 2.3 percent to 803.83 million metric tons, the statistics bureau said Tuesday. December output fell 5.2 percent to 64.37 million tons from a year earlier.

Jamshedpur: The government is contemplating appropriate measures on a priority basis to boost the steel sector and also held discussions with various stakeholders for inputs, Union Minister Narendra Singh Tomar said today.

A dramatic surge in import of steel from China, Japan and Korea has battered the domestic steel industry. Numerous policy interventions have not helped. Union Steel and Mines Minister Narendra Singh Tomar tells BT's Rajeev Dubey and Sumant Banerji that while the government is considering more measures to restrict imports, the sector may remain under stress for some more time.

So what country will be the one bright spot in the global steel market this year? It’s no secret that for the last four years the global steel sector has been floundering and it’s been tough for producers to find any silver lining.

Crisis in UK steel may continue for years, says analyst in comprehensive note highlighting China's massive over-capacity

Some of the top players in India's automotive industry are worried about the government's decision to ban production, storage and sale of steel without Bureau of Indian Standards (BIS) certification, a step that they fear would hurt, even halt, their manufacturing operations.

Last year was the most challenging year for the US steel industry since the global financial crisis of 2008–2009. Steel companies saw their market capitalizations dwindle to unprecedented levels in 2015

After lobbying for imposition of import duty, safeguard duty and anti-dumping duty on imports from China, South Korea and Japan, the over USD 100 billion industry has now approached the government for a comprehensive Steel Package.

Setting a target of about 300 million tonnes for India's steel production by 2025, the NITI Aayog on Thursday discussed with the steel and mines industry bodies in Odisha the problems they face so they can be addressed and policy changes be made to achieve the goal.

Calcutta, Jan. 2: Gujarat NRE Coke Ltd (GNCL) has converted debt worth Rs 235.9 crore into equity to shore up its balance sheet but accelerated dumping of metallurgical coke by Chinese players may undermine the effort of the beleaguered firm.

In an interview to ET Now, Ravi Uppal, MD & Group CEO, JSPL, talks about the problems being faced by steel industries and how to overcome these problems.

The British government reacted too slowly to the crisis in the steel industry which has caused more than 5,000 job losses and left the sector permanently damaged, a parliamentary committee said.

Process Plant and Machinery Association of India, apex body representing the Process Plant Manufacturers in the country, has written to Prime Minister Mr Narendra Modi and Steel Minister Mr Narnedra Singh Tomar and Union Finance Minister Mr Arun Jait.