Metals and mining, India Metals and Mining
UC Rusal and the Indian company Runaya Metsource have signed an agreement on the establishment of a joint venture in India, the UC Rusal’s press centre reports.
At the auction in the Eurasian Diamond Center in Vladivostok, the diamond producing company Alrosa sold diamonds in the volume of 461 thousand carats for $12.9 million, including technical diamonds
Indian corporation KGK, which specializes in the production of faceted gemstones, has begun to search for a site for enterprise in Vladivostok.
The Governor of the Kamchatka Region Vladimir Ilyukhin discussed prospects for implementation of the investment project on development of the Krutogorovsk coal deposit with representatives of Tata
On Tuesday, India approved the anti-dumping duties on hot-rolled steel flat products from China, Japan, South Korea, Russia, Brazil and Indonesia, the Department of Taxes and Fees under the Ministr
Excess of cheap steel on the global market led to the fact that in recent years the number of anti-dumping investigations in this area increased dramatically. The industry believes that its main threat is a sharp increase in the production in China, but closing from cheap Chinese steel importing countries also block the supply of metal from other countries, including Russia. It becomes increasingly difficult for domestic steelmakers to fight a wave of isolationism on their traditional overseas markets, and they can redirect the export to other countries always.
Since 2010, Russian steelmakers exported about one-third of the produced steel - 25-27 million tons of rolled products per year. These volumes are less than the export sales of 2008-2009, which reached 30 million tons, and may even decline because of the surge in protectionist investigations worldwide. According to the Ministry of Economy, in 2014-2015, 18 new investigations and revisions of measures affecting exports of Russian steel industry were initiated abroad, and eight of them have ended not in favor of Russia.
By results of the work of metallurgical enterprises in August 2015, the Ukraine increased its steel production by 8.6% as compared to August 2014 to 1.919 million tons, retained the 10th place in the ranking of 65 countries, which are the main world manufacturers of these products, compiled by the World Association of producers steel (Worldsteel).
The fall in the steel production in August was recorded in most of the top ten, except for India, South Korea, Germany and the Ukraine.
The Government of India intends to introduce antidumping duties on imports of steel products in the amount of 20% of their customs value. Metallurgical companies of Russia, China, Japan and South Korea will fall under the sanctions. Currently, the draft document is held formal discussions in departments of the Indian Ministry of Finance, after which are likely to be adopted at the Cabinet meeting.
New duties will be the third step of the Indian authorities to protect domestic producers since July this year. However, previously the Government introduced slight increase in the import duties on a narrow range of rolled metal.
In June 2015, the global crude steel production made up 136 million tons, which is by 2.4% below the level of June 2014.
China produced 69 million tons of steel in June, which is by 0.8% less than last year. Japan also reduced the steel production by 6.2% y/y or to 8.6 million tons. The reduction took place also in South Korea – by 3.6% to 5.9 million tons. But India increased its steel production by 0.8% to 7.4 million tons.
According to the World Steel Association, in May 2015, the global steel production was 139 million tons, which is by 2.1% less than in the previous year.
The Chinese steel production fell by 1.7% to 70 million tons. Japan produced 8.9 million tons of steel in May, which is by 7% less than the level of the previous year, South Korea produced 6 million tons, decreased by 2.6%, and India - 7.68 million tons, which is by 4% more than last year.