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AM/NS India & POSCO Maharashtra Ink HR Coil Supply MoU

ArcelorMittal Nippon Steel India has signed a Memorandum of Understanding with POSCO Maharashtra Steel to supply Hot Rolled Coils in 2021. Sixth such agreement between the two companies since 2015, the MoU is valued at about INR 5000 crore. As part of the agreement signed on January 27, AM/NS India and POSCO Maharashtra Steel will also jointly work to enhance the quality of current grades and develop new value-added grades to provide the best quality and state-of-the-art steel products & solutions to consumers.

AM/NS India Chief Executive Officer Mr Dilip Oommen said "POSCO Maharashtra Steel has been a valued customer for years and this MoU further strengthens our relationship with a promise to deliver smarter and better steel. We will continue supporting POSCO Maharashtra Steel in its endeavours as AM/NS India has always focused on value addition and development of value-added grades for customers. We strive to deliver high-quality HRC on time to POSCO Maharashtra Steel, thereby enhancing our contribution towards Self Reliant India mission."

Source - Strategic Research Institute
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SSAB Drops IJmuiden Discussions with Tata Steel

During the fourth quarter of 2020, SSAB announced that it was in discussions with Tata Steel concerning a possible acquisition of the IJmuiden steel mill and related downstream assets. After deeper analysis and discussions, it became clear that there were limited possibilities to integrate IJmuiden into the SSAB strategic framework. Discussions with Tata Steel have therefore concluded. SSAB President and CEO Mr Martin Lindqvist said “We have carefully evaluated Tata Steel IJmuiden and have concluded that an acquisition would be difficult for technical reasons. We cannot be sufficiently certain that we could implement our industrial plan with the preferred technical solutions as quickly as we would wish. We cannot align Tata Steel Ijmuiden with our sustainability strategy in the way desired.

Tata Steel confirmed that SSAB has withdrawn its initial interest for Tata Steel Netherland business. However, Tata Steel confirmed that it is committed to arriving at a strategic resolution for its European portfolio. Tata Steel’s IJmuiden plant is among the most environmentally efficient and cost competitive steel producers in Europe. Currently, around two third of the business of Tata Steel is based in India with best in class, highly cost competitive assets and strong cash flows and Tata Steel remains committed to undertake significant de-leveraging in FY21 and beyond.

Source - Strategic Research Institute
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India May Permit Use of Secondary Steel Sector Rebars in Highways

Indian Express, citing sources close to the matter, reported that Indian government is set to allow steel made from recycled scrap to be used in construction of roads and bridges. The report quoted a said a senior ministry official as saying that “It was decided that as long as the steel from recycled scrap and such sources meets the BIS standard, there should be no problem in using them in the projects. There will also be a requirement to set a stringent inspection regime for quality control at the ground level. An estimated 10,000 suppliers in India will potentially be eligible to bid for contracts to supply steel after the move, introducing competition and also enhancing the size of the sector.”

Sources said the move comes against the backdrop of recent deliberations in the Ministry of Road Transport and Highways chaired by minister Mr Nitin Gadkari, wherein it has been discussed that the steel industry in general and the top few premium steel makers in India in particular have hiked the price of steel by at least 50% in the past six months.

Source - Strategic Research Institute
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SAIL Reports Strong Results for Q3 & 9 Months

Steel Authority of India Limited has declared its financial performance results for the October-December 2020 quarter and nine months of FY 2020-21. SAIL Chairperson Ms Soma Mondal said “The worst is behind us. SAIL has shown overall improvement during the current financial year despite all the challenges. With the focus on seizing opportunities, the company has geared up to service the rising steel demand in the market as soon as the gradual opening of lockdown started. It has always been SAIL’s strategy to operate in sync with the market situation. As we look ahead, we are confident of improving the performance further in the remaining period of the financial year.”

Key highlights of Q3 FY21

Hot metal production at 4.8 million tonne, up 12% YoY

Crude steel production at 4.37 million tonne, up 9% YoY

Saleable steel production at 4.15 million tonne, up 6% YoY

Total sales of 4.15 million tonne, up 1% YoY

Turnover of INR 19614 crores, up 20% YoY

EBITDA of INR 5294 crores, up 346% YoY

Profit Before Tax of INR 3645 crores, up by 716% YoY

Profit after Tax of INE 1283 crores up by 399% YoY

Financial Performance in 9 months of 2020-21

Hot metal production at 11.6 million tonne, down 10% YoY

Crude steel production at 10.6 million tonne, down 10% YoY

Saleable steel production at 10.2 million tonne, down 8% YoY

Turnover of INR 4526 crores, up 0.6% YoY

EBITDA of INR 7267 crores, up 70% YoY

Profit Before Tax of INR 2271 crores, up by 125% YoY

Profit after Tax of INR 406 crores up by 158% YoY

Source - Strategic Research Institute
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Vow ASA to Build Biogas Plant at ArcelorMittal Luxembourg

Specialist provider of technology for decarbonizing industry Vow ASA subsidiary ETIA has signed a strategic memorandum of understanding with ArcelorMittal Europe Long Products to work on a project to build the first dedicated biogas plant for the steel industry, using ETIA’s pyrolysis technology, at ArcelorMittal Rodange in Luxembourg. ArcelorMittal Rodange specializes in the production of grooved rails, supplying major rail projects around the world. The two companies will cooperate on engineering, business models and financing, and aim to have the Rodange biogas plant operational in 2022. The biogas will be made using Vow’s patented ‘Biogreen’ pyrolysis technology, which involves heating sustainable biomass at high temperatures. The gases emitted during this process are then captured and processed into biogas, which will directly replace the use of natural gas in the Rodange plant’s rolling mill reheating furnace. By-products such as bio-coal will also be created during the process, and re-used within ArcelorMittal, directly replacing the use of coal.

The Rodange biogas plant will be ETIA’s first industrial-scale pilot project for this specific application, and the intention is for similar plants to be built in Europe, thereby increasing the CO2 emissions saved from replacing the use of natural gas.

ArcelorMittal Europe has committed to reducing CO2 emissions by 30% by 2030 and has an ambition to be carbon-neutral by 2050. The company is pioneering two breakthrough carbon-neutral technology routes as part of its strategy: Smart Carbon and innovative DRI. The Long Products business owns Europe’s only DRI-EAF facility in Hamburg, where a project is planned to test the ability of hydrogen to reduce iron ore and form DRI on an industrial scale, as well as testing carbon-free DRI in the EAF steelmaking process.

Source - Strategic Research Institute
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AM/NS India Buys Essar Power Orissa Limited

AM/NS India has acquired Essar Steel’s captive power plant Essar Power Orissa Limited under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act for INR 450 crore. Essar Power Orissa Limited is a coal based 120 MW captive power plant at Paradip in Odisha, of which 60 MW was operational & remaining 60 MW was under construction when insolvency proceedings started against Essar Steel. The asset has been an NPA since 2017.

AM/NS India had acquired Bhander power plant, a natural gas based thermal plant at Hazira, with an installed capacity of 500 MW through a bidding process from Edelweiss Asset Reconstruction Company last year.

Source - Strategic Research Institute
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Malaysia Starts Review on AD Duties on Color Coated Steel Imports

Malaysian Government’s Ministry of International Trade and Industry will initiate sunset review investigation on imports of the pre-painted, painted or colour coated steel coils originating or exported from China and Vietnam, after it received a petition from domestic producer CSC Steel Sdn Bhd. Miti said “The petitioner alleged that imports of subject merchandise originating or imported from China and Vietnam are being dumped at a price much lower than their domestic selling price and want the Malaysian government to continue the imposition of anti-dumping duties on the subject merchandise. The petitioner further claimed that imports from the alleged countries have increased and the domestic industry has suffered material injury.”

The ministry said in accordance with the Countervailing and Anti-Dumping Duties Act, 1993 and its related Regulations, a final determination on the investigation will be made within 180 days from the date of initiation. If the final determination is affirmative, the government will impose an anti-dumping duty at the rate that is necessary to prevent further injury to the domestic industry.

In 2016, Malaysia imposed antidumping duty rates ranging from 12.06-52.10% for the two countries.

The products in question currently fall under the Customs Tariff Statistics Position Numbers 7210.70.210, 7210.70.290 and 7210.70.900.

Source - Strategic Research Institute
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Korea Development Bank May Sell HMM Stake to POSCO

BusinessKorea reported that the state owned Korea Development Bank, which became the largest shareholder in container shipping line HMM, formerly known as Hyundai Merchant Marine, after its restructure in 2017, intends to sell its 12.6% stake to South Korean steel manufacturing giant POSCO. The report quoted a high ranking government official as saying that "KDB recently reported an HMM privatization plan to the Ministry of Strategy and Finance. The ministry will start a full-fledged review with other ministries and agencies."

Industry insiders believe that if POSCO absorbs HMM, it will create synergies in various fields. POSCO, Korea's largest steelmaker, ships about 160 million tons of raw materials and steel products annually. The volume of cargo handled by POSCO International, a general trading company, also amounts to tens of millions of tons a year. POSCO Chemical's imports of secondary battery materials (anode and cathode materials) are also on the rise. POSCO Group is fostering secondary battery materials as a future growth engine. The group’s total annual logistics costs amounted to six trillion won last year, accounting for 10 percent of its total sales.

If POSCO directly jumps into the shipping industry, it is expected to save POSCO trillions of won annually as the company will be able to integrate its affiliates’ logistics work. POSCO Group has strong financial power to do that. As of the end of the third quarter of 2020, POSCO's cash and cashable assets amounted to 6,769.1 billion won. This means that POSCO can afford to pay between 1 trillion won and 1.5 trillion won to buy HMM.

Source - Strategic Research Institute
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China Custom Clears Steel Scrap for BaoSteel

According to media reports, the first cargo of steel scrap bought after China reopened its doors to ferrous scrap imports on January 1 has been cleared by Chinese customs authorities at Shanghai port. The Tong Mao 1, the vessel that transported the 3,000 tonnes shipment of HRS101 grade scrap, arrived at Shanghai port Jan. 23 from Kawasaki port in Japan. On January 1, 2021, China Baowu’s Ouyeel Blockchain Finance and Metal Recycling Resources Co and Mitsui & Co signed a contract to import recycling steel materials. After reviewing various contract terms, the two parties formally signed a contract, agreeing to purchase 3,000 tonnes of Japanese heavy recycling steel materials from Mitsui & Co and ship to Shanghai Port for the production needs of Baosteel.

Several other Chinese buyers have bought material from Japan, and shipments are expected to reach Chinese shores in February-March. Recycling firm Zhejiang Judong bought 2,800 tonnes of HS from Heiwa Shoji on 1 January. The cargo is expected to arrive in China in early February. China's domestic scrap price setter, Shagang in Jiangsu, bought 3,000 tonnes from Japanese supplier Hanwa, with shipment scheduled for second-half February. Hanwa also sold 2,000t of heavy recycling steel material to Chinese state owned Ansteel in Liaoning, northeast China. This cargo is scheduled to arrive in Bayuquan port in Liaoning in early March.

Source - Strategic Research Institute
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Hyundai Steel Reports Net Loss for 2020

South Korean steelmaker Hyundai Steel’s sales revenues in 2020 decreased by 12.1% YoY to KRW 18.02 trillion (USD 16.1 billion), while its operating profit totaled KRW 73 billion compared to an operating profit of KRW 331 billion in 2019. In 2020, the company’s finished steel production amounted to 19.07 million tonnes, decreasing by 10.1% YoY, while its steel sales volume totaled 19.68 million tonnes, down by 7.7% YoY. Production decreased as global demand shrank amid the coronavirus pandemic, while sales declined due to the slump in industrial demand, from sectors such as automotive and shipbuilding.

2021 guidance

2021 sales volume guidance has been set at 19.34 million tonnes down by 2% YoY (BF -1% YoY & EAF -3% YoY)

Output and sales will normalize as the global economy recovers. Profit margins will also improve thanks to the removal of underperforming business segments.

The company will invest KRW 340 billionn in ESG-related CDQ facilities until 2024.

Source - Strategic Research Institute
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CAP Acero Posts Losses in 2020

Chilean CAP Group’s steelmaker CAP Acero has posted net loss in the full year of2020. The company said net loss in 2020 was USD 57 million, up from a larger loss of USD 114.1 million it reported in 2019. Net revenues in 2020 rose 2.7% YoY to USD 488.1 million, due to higher steel sales volumes in the year. The company reported an EBITDA loss of USD 32.1 million in the full year of 2020, as compared to an EBITDA loss of USD 78.7 million in 2019.

On the other hand, CAP Acero’s parent company, CAP Group, reported a net profit of USD 300.4 million in the full year of 2020, compared to a net loss of USD 104.1 million in 2019. CAP Group attributed the stronger results to higher mining sales, including iron ore, and reduced operational costs.

Source - Strategic Research Institute
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India Postpones Quality Control Order for 3 Steel Specifications

India's Ministry of Steel announced the postponement of the enforcement of the Steel and Steel Products (Quality) Control Order in respect of three grades of steel by six months. As per the notification, the mandatory quality control order for tool and die steel, high-speed tool steel and carbon manganese steel forgings will be enforced from July 23, 2021.

IS 3748: 1990 - Tool and die steels Specification

IS 7291: 1981 - Specification for High speed tool steels

IS 12146: 1987 - Specification for Carbon manganese steel forgings for pressure vessel

The mandatory quality control order for these products requiring all producers, traders, market intermediaries to comply with certifications of quality by the Bureau of Indian Standards (BIS) had earlier been planned for enforcement from December 22, 2020.

Source - Strategic Research Institute
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Kalyani Steel Plans Stamp Charged Coke Ovens

Manufacturing Today India reported that Kalyani Steels plans to install a coke making facility and heat recovery captive power plant, adjacent to its steel plant in Koppal district in Karnataka. The project involves setting up of a 200,000 tonnes per annum non recovery/heat recovery, stamp charged coke oven with modified wet quenching of hot coke and 15-17 MW captive power plant to be operated utilising waste heat energy of flue gas generated from coke oven. The electrical power so produced shall be used for captive consumption.

The project cost is set at INR 211 crores which will be funded by way of debt and internal accruals. The commissioning of this project is expected in September 2022.

Kalyani's existing plant capacity is of 700,000 tonnes per annum of carbon and alloy steels in straight length forms. The facilities at the steel manufacturing unit include Blast furnaces, Sinter plants, EOF, LF, VD, Bloom and Billet casters, bar and rod mill with all required auxiliaries and infrastructure.

Manufacturing Today India

Source - Strategic Research Institute
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Fireball Rips through British Steel Works

The Mirror reported that a fireball ripping through a steelworks has been caught on camera as the sudden blast explodes into a walkway without warning. Footage obtained by Scunthorpe Live from inside the British Steel building shows the camera blinded momentarily by the explosion, and thick clouds of ash or smoke cover billow out, filling the room. No-one was hurt in the blast and an investigation is now underway into the explosion, which is reported to have happened on Thursday morning in the steelworks’ BOS plant.

British Steel said that the incident was contained by safeguards that were in place. A British Steel spokesman said “An investigation is underway into an incident during the iron charging process in our steel plant on Thursday. The risk of a reaction during this process is well understood throughout our industry. As such we have robust risk assessments and control measures in place to protect our people. These safeguards ensured no-one was injured, and no damage was caused.”

The plant was taken over by Chinese steelmaker Jingye last March after falling into administration when, securing thousands of jobs that had been in jeopardy.

Source - Strategic Research Institute
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US Steel Reports Loss for 2020

United States Steel Corporation has reported net loss was of USD 1,165 million for 2020. Adjusted net loss was USD 920 million in 2020 as compares to 2019 net loss of USD 630 million. US Steel President and CEO Mr David B Burritt said “We finished 2020 strong and are optimistic about the opportunity to deliver incremental value for our stakeholders in 2021. Our fourth quarter adjusted EBITDA of USD 87 million is only just beginning to show the potential of our earnings growth as we begin to realize the benefits of higher prices, adaptive operations, and our continued focus on cost management. Our performance continues to strengthen as we enter 2021 and we are bullish that the market will continue to be fueled by robust demand, low inventories, and supportive raw material prices.”

Commenting on its Best of BothSM strategy execution in 2020, Burritt continued, “The team at US Steel created unprecedented value in the trough by continuing our transformation into a world-competitive, Best of Both steel producer. By keeping the business resilient, we were able to execute our number one strategic priority to acquire the remaining stake in Big River Steel. With Big River Steel now fully part of the U. S. Steel portfolio, we are well positioned to drive significant earnings growth while delivering our customers an unmatched value proposition. Our future starts now and we cannot wait to show the world the value that the only Best of Both steel company can create.”

Source - Strategic Research Institute
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FNV: staat moet desnoods belang in Tata Steel nemen
Jeroen Segenhout 1 feb

De Nederlandse overheid moet een belang in Tata Steel Nederland overwegen om het bedrijf een duurzame toekomst te geven. Volgens vakbond FNV is het moment aangebroken om daar serieus over na te denken doordat het Zweedse SSAB is afgehaakt als koper van de staalfabrikant.

'Nu moet je handelen', aldus vicevoorzitter Tuur Elzinga van FNV. 'Dat is ook nodig om te voorkomen dat je straks de regie kwijtraakt en het bedrijf in handen komt van toevallige kopers in de wereld.'

In de etalage
De toekomst voor Tata Steel Nederland is onzeker geworden door het Zweedse besluit. SSAB stelde vrijdag dat het de staalfabriek in IJmuiden niet kan inpassen in zijn duurzaamheidsplannen. De investeringen zouden daarvoor te groot zijn.

Het Indiase Tata Steel gaf daarna aan dat voor de Nederlandse tak waarschijnlijk een nieuwe koper wordt gezocht. De Indiërs kunnen dan hun schulden afbouwen. Tata Steel in IJmuiden werd door het moederbedrijf in de etalage gezet als een van de best presterende staalbedrijven in Europa.

FNV stelt dat de vestiging in IJmuiden, met negenduizend werknemers, 'strategisch van groot belang is' voor de Nederlandse maakindustrie. Investeringen in dit bedrijf kunnen volgens Elzinga helpen om de hele Nederlandse industrie duurzamer te maken.

'Vele potjes'
In eerste instantie zou de Nederlandse overheid Tata Steel Nederland financieel kunnen ondersteunen bij zijn vergroening, wat een grote opgave is voor het bedrijf. Elzinga: ‘Het kabinet heeft verschillende potjes geld voor duurzame economische ontwikkeling op de plank liggen. Ook kan Nederland 5,6 miljard euro krijgen uit het Europese Herstelfonds.'

De overheid moet volgens de vakbondsbestuurder een belang in Tata Steel Nederland nemen als het anders niet lukt om het bedrijf te verzelfstandigen. Die kans dient zich aan als het Indiase bedrijf zijn Europese activiteiten in een Brits en Nederlands deel splitst, zoals nog steeds de bedoeling is.

Originele link van het artikel: fd.nl/ondernemen/1372446/fnv-staat-mo...
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ThyssenKrupp CEO Uncertain About Deal with Liberty Steel

Thyssen Krupp CEO Ms Martina Merz does not want to roll out a red carpet for prospective buyers for the Thyssen steel division. She said in a speech prepared for annual general meeting next Friday “Liberty Steel sent us an updated offer last week, which we are currently examining very carefully. There is still a need for clarification on a number of complex topics in the offer. Our ultimate goal is to ensure the future viability of steel and thus safeguard our employee’s prospects. In our view, this is more important than the question of ownership. We are in discussions with Liberty Steel to this end. A decision should be made in March."

Bloomberg, citing people familiar with the matter, separately reported that Liberty submitted a firmed up bid for the steel unit late last month that calls for the German company to inject capital to cover liabilities including a EUR 4 billion pension shortfall and Liberty Steel Group's offer for Thyssenkrupp's steel unit gave it a negative equity value of at least EUR 1.5 billion.

ThyssenKrupp has always stated that it will not make itself dependent on third parties. In addition to the Liberty offer, the group is also working flat out on the alternatives. In addition to a sale, a spin off of the division or a self directed restructuring is also possible. Bloomberg News reported last month that Thyssenkrupp was considering listing the steel division on the stock market amid mounting opposition from union officials and some large shareholders to a potential sale to Liberty. Key Thyssenkrupp stakeholders have questioned whether Liberty has adequate funding and a viable strategic plan for the steel business.

Ms Merz is also trying to repeat the strategy that was so successful in selling the elevator division. There she left several options open until the end with the success that the price exceeded the mark of 17 billion euros in the end.

While the business has dragged for years on Thyssenkrupp, it likely has benefited recently from the global rise in steel prices.

Source - Strategic Research Institute
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EEPC India Welcomes Custom Duty Reduction on Steel Imports

Engineering Export Promotion Council of India has lauded the central government for slashing import duty on steel items and revoking antidumping duty. EEPC chairman Mr Mahesh Desai said “Our persistent pleas with the government for reining in rising iron and steel prices have been heard and reflected in the Union Budget. It is a great move for Atmanirbhar Bharat and the MSMEs that have been hit hard for an unprecedented increase in the recent months. The revoking of anti dumping duty and CVD on certain steel products along with relief to the copper recyclers and reducing duty on copper scrap from 5% to 2.5% would make a significant difference to engineering exporters.”

Jalna Steel Manufacturer Association’s Mr Nitin Kabra told TOI “The removal of 2.5% duty from the scrap will bring down the price of raw material by INR 600 per tonne. In terms of finished goods, the price will fall by INR 700 per tonne. The deduction in customs will create a win-win situation for the industry and the customers.”

Indian Finance Minister Ms Nirmala Seetaraman in her Budget speech announced reduction in custom duty on certain steel imports. She announced “MSMEs and other user industries have been severely hit by a recent sharp rise in iron and steel prices. Therefore, we are reducing Customs duty uniformly to 7.5% on semis, flat, and long products of non-alloy, alloy, and stainless steels. To provide relief to metal re-cyclers, mostly MSMEs, I am exempting duty on steel scrap for a period up to 31st March, 2022. Further, I am also revoking ADD and CVD on certain steel products.”

Source - Strategic Research Institute
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ISSDA Flags Surge in Stainless Steel Imports

Indian Stainless Steel Development Association says that budget has opened the floodgates for imports of Chinese stainless steel with temporary revocation of anti dumping and countervailing duties, which is expected to hurt domestic manufacturers. ISSDA president Mr KK Pahuja said "This is a big unintentional gift to Chinese companies and will severely hit the domestic stainless steel industry, which has been in financial stress for more than a decade. This will not only hamper Indian production but will turn many MSME manufacturers into traders.”

Indian Finance Minister Ms Nirmala Seetaraman in her Budget speech announced reduction in custom duty on certain steel imports. She announced reduction in custom duty from 10% to 7.5% on import of long products of stainless and alloy steel and also revoking ADD & CVD on certain stainless steel products.

Countervailing duty is being temporarily revoked for the period commencing from 2.2.2021 till 30.09.2021, on imports of Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products, originating in or exported from People's Republic of China, imposed vide notification No. 1/2017-Cus (CVD) dated 7.09.2017.

Provisional Countervailing duty is being revoked on imports Flat Products of Stainless Steel, originating in or exported from Indonesia, imposed vide notification No. 2/2020-Customs (CVD) dated 9.10.2020.

In Sunset Review, anti-dumping duty on Cold-Rolled Flat Products of Stainless Steel of width 600 mm to 1250 mm and above 1250 mm of non bonafide usage originating in or exported from People's Republic of China, Korea RP, European Union, South Africa, Taiwan, Thailand and United States of America has been discontinued upon expiry of the anti-dumping duty hitherto leviable vide notifications no. 61/2015-Customs (ADD) dated 11th December, 2015 and 52/2017-Customs (ADD) dated 24th October, 2017.

Source - Strategic Research Institute
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CSC Increases Steel Prices for March Sales

Kaohsiung head quartered Taiwanese steel giant China Steel Corp announced that it would raise domestic steel prices by an average of 2.5% per tonne for delivery in March 2020. The price of hot rolled steel plates, hot rolled carbon steel, cold rolled sheets and coils and hot dipped zinc-galvanized sheets would increase by TWD 700 (USD 25) per tonne, while the price of hot rolled steel bars and wire rods would rise by TWD 450 per tonne. The price of electrical sheets would rise by TWD 2,000 per tonne for low to medium grade products, and rise by TWD 2,500 per tonne for high-grade ones. CSC said its decision reflected recent price hikes by Chinese industry peers Baoshan Iron & Steel Co and Anshan Iron and Steel Group Corp.

CSC had raised domestic steel prices by 9.5% for delivery in February 2021, eighth straight month of increases. Prices are to increase by TWD 2,200 per tonne (USD 78) for hot rolled steel, hot rolled plates and electro galvanized sheets, TWD 2,500 per tonne (USD 89) for cold rolled steel and TWD 3,000 per tonne (USD 107) for electrical sheets.

Earlier on December 11 2020, China Steel Corporation had hiked steel prices for domestic sales in the January 2021 & January-March 2021 quarter by 6.1% in average, TWD 1,200-1,500 per tonne (USD 43-53).

Source - Strategic Research Institute
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Vertraagd 31 jan 2023 14:21
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