| Trade Issue | ||
| Indian government reviews steel prices with major producers - 04 Jul, 2008 | ||
|
Indian primary steel producers have assured the government that they will take a series of steps to check the prices of steel at the retail level. Mr RS Pandey secretary to the ministry of steel impressed upon the producers that despite an assurance given by them at a meeting with the Prime Minister to hold the price line for three months, prices have gone up at the retail level. He strongly emphasized upon the need to hold the price of steel items at a time when the government is fighting inflationary pressure. He said the government is responsive to the needs of the industry and waived the export duty on steel and imposed a 15% duty on the export of iron ore. Mr SK Roongta chairman of SAIL said that the primary steel producers are deeply distressed by reports of higher prices being charged. He said that “Only 5% of the HR products are marketed through retailers. While they have been supplying the products at April price level, price distortion have taken place at the retail points.” Mr Roongta said the producers will review the trading arrangement and may opt for MRP type arrangement. They also said that individual producers may put up advertisements announcing the price and also facility for small consumers to place their orders through the internet. Mr Sajjan Jindal vice CMD of JSW was emphatic that the primary steel producers are with the government on the issue of containing steel prices at the difficult time and wanted to dispel the impression that steel prices will be hiked in August after the expiry of three months moratorium. He described reports that prices will be hiked in August as undue speculation. Mr Jindal said that they will take steps to contain direct and indirect exports through secondary producers so that availability increases in the domestic market. It was noted that steel exports during April to June’08 has declined to 0.9 million tonnes as against 1.3 million tonnes during the same period last year. (Sourced from www.steelprices-india.com) | ||
| Today's News | ||
| Clips | ||
 | Input materials show down trends in India | |
|
| Turkish flat steel prices continue falling | |
|
| Rebar prices dip at Mumbai and Delhi | |
|
| Turkish section steel price to keep decreasing | |
| Announcements | ||
|
| Tokyo Steel reduces September prices | |
|
| ArcelorMittal US rolls back September price hike for flats | |
|
| Feng Hsin to drop rebar and section prices | |
|
| Mahindra likely to raise tractor prices soon | |
| News And Trends | ||
|
| Steel prices in India continue to go down | |
|
| Oil falls to USD 112 | |
| Export And Import Levels | ||
|
| Newcastle coal exports prices recover last week | |
|
| Chinese HDG exports suspended | |
|
| Update on Japanese export talks on CRNGO | |
| Trade Issues | ||
|
| Vietnam to hike mining tax | |
|
| Russian cement producers call for 30% import duty | |
|
| EU investigates aluminum foil imports | |
|
| China increases electricity prices for second straight month | |
