India’s steel minister said on Thursday he wanted the finance ministry to scrap the 2.5 percent duty on imports of coking coal, a key steelmaking raw material, to limit input costs.
India’s steel ministry has strongly opposed the inclusion of finished steel products in the proposed regional free-trade agreement, saying it would have an adverse impact on the industry that’s recovering from a crisis.
Amid reports of sudden surge in steel imports in India from China and other Asian countries, the Central government is considering a proposal to impose safeguard duties on steel imports to prevent large-scale dumping of steel in India.
State-owned NMDC Limited is awaiting cabinet decision to conduct due diligence to acquire a minority stake in a Tungsten Mine in Vietnam, a senior official of the miner said here today.
A high-level panel to address issues pertaining to procurement of domestic steel products has said waivers for special grades not manufactured in the country will be granted only after review.
Tata Steel has said the focus on infrastructure led growth will not only support the demand growth of steel but will also help achieve world class cost efficiencies.
Altogether three companies that had signed MoUs with the Odisha government for setting up steel plants have withdrawn their projects from the state, the Assembly was informed today.
The steel ministry is considering an advisory group for public sector miner NMDC to rein in any potential price surge in iron ore, sources said.
The Ministry of Steel is taking a three-pronged approach to support the domestic industry, which has faced low demand and the influx of cheap imports.