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SRMA STEEL NEWSLETTER

SRMA

Steel Re Rolling Mills Association of India

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Steel Re-Rolling Mills Association of India www.srma.co.in Email : [email protected]

Sl. No, Name

1. Shri B.M. Beriwala,

Chairman

2. Shri Jagmel Singh Matharoo,

Vice Chairman

3. Shri Ramesh Kumar Jain,

Treasurer

4. Shri Sanjay Jain

5. Shri Kailasj Goel

6. Shri G P Agarwal

7. Shri O P Agarwal

8. Shri S K Sharda

9. Shri Sandip Kumar Agarwal

10. Shri S. S. Sanganeria

11. Shri Sanjay Surekha

12. Shri R P Agarwal

13. Shri S. S. Bagaria

14. Shri Girish Agarwal

15. Shri Goutam Khanna

16. Shri Suresh Bansal

17. Shri Rajiv Jajodia

18. Shri Bhusan Agarwal

19. Shri Mahesh Agarwal

20. Shri Sita Ram Gupta

21. Shri Ashok Bardeja

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SRMA Steel News is a division of Steel Re-Rolling Mills Association of India and takes due

care in preparing this news. Information has been obtained by SRMA from sources, which it

considers authentic. However, SRMA does not guarantee the accuracy, adequacy or

completeness of any information and is not responsible for any errors or omissions or for the

results obtained from the use of such information. SRMA is not liable for investment decisions,

which may be based on the views expressed in the News. SRMA especially states that it has no

financial liability whatsoever to the subscribers/users/transmitters/distributors of this News. And

no part of this news may be published/reproduced in any form without SRMA’s prior written

approval.

We are deeply shocked for sad demise of our Ex.Committee

member Mr.Ashok Bardeja who passed away on the 2nd of

August, 2014.

On behalf of the Chairman, Vice Chairman , Treasurer and

Committee, General members of the Steel Re-Rolling Mill’s

Association of India offer the heartiest condolence for his

family. We pray to God to give his family enough strength to

forebear this irreparable loss.

May His Soul Rest in Peace



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Executive Summary

Energy efficient technology is Essential for growth of SRRM

sector

Environment & Safety Focus

Taxation News

Events

Latest Steel News

CONTENTS



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Energy is one of the important inputs for the economic advancement of any country. In the matter of

developing countries, the energy sector assumes a critical importance in view of the ever increasing

energy needs requiring huge investments to meet them. Enhancement of energy efficiency of an

industry depends upon the measures taken for energy efficient equipment and system design and

standard operating practices. Energy efficiency is achieved when specific energy in a specific product,

process or areas of production or consumption is reduced without affecting output. Upgrading of energy

efficiency will contribute to energy conservation and is therefore an fundamental part of energy

conservation promotional policies.

India has speedily risen in the list of global energy consumers. Increasingly dependent on larger quantities

of fossil fuel, the country is currently the world’s third largest consumer of energy. Subsequently, it is

also the fourth largest source of GHG emissions, contributing over four per cent of the 25.2 billion tonnes

of CO2 released by the world every year. Of the 1.7 billion tonnes of GHGs emitted by India annually,

the industrial sector accounts for more than 500 million tonnes. The Indian steel sector is one of the

biggest contributors to this figure, emitting 70 million tonnes of CO2 per year.

For its direct energy needs, the SRRM sector is heavily dependent on furnace oil, coal, or natural gas.

This dependence is a drain on these small and medium sized units, forming over a quarter of production

costs. To compound the issue, fossil fuel use also increases their emission load. While technical

interventions to improve production efficiency and reduce energy costs are available, their existence is

largely unknown to the SRRM sector. There is low awareness about energy efficiency and most units lack

the engineering and technical manpower to adopt energy efficient practices.

Still SRRM sector is not energy efficient due to lack of experience in accessing external funds, of

incentives to cater to small-scale energy efficiency projects, Outdated technologies and practices, Low

information and awareness levels on the developments in the sector, Inappropriateness of generic energy-

efficient technologies (EETs) developed, Low research and engineering base and other institutional

linkages. Need for Energy Conservation To harness the high energy saving potential and its benefits,

bridging the gap between demand and supply, reducing environmental emissions through energy saving

and to effectively overcome the barrier, the government of India enacted the Energy Conservation Act-

2001.

The Act provides the much needed legal frame work and in institutional arrangement for embarking

on an energy efficiency drive. Improving Energy Efficiency In Steel Rerolling Sectors The Centre for

Engineering & Technology (CET), Ranchi, is the inhouse design engineering and consultancy

organization of Steel Authority of India (SAIL). Under the UNDP assisted project for energy efficiency

improvement in steel rerolling sector comprising mainly small and medium enterprises (SME), CET

with SAILCON was entrusted for suggesting methods for improving energy efficiency for rerolling

industries located in north and western part of India and again study for preparation of feasibility report

for improving energy efficiency in SRRM sector.

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Globally growing consumption of energy has

gone in the certain level with rising concerns about

its conservation. Apart from being expensive and

prone to sudden price fluctuations, the

overwhelming majority of energy sources are non-

renewable. Therefore, the conservation of energy is

considered vital not just to avoid wastage of a

precious resource, but also to slow down the rapid

depletion of coal, oil, and natural gas resources.

However, with the environmental movement

gaining ground in the past 30 years, the

ramifications of unsustainable energy use are no

longer confined to economics alone. As the bulk of

greenhouse gas (GHG) emissions is a result of

fossil fuel burning, conservation of energy is today

intrinsically linked to the climate matter. As

halting fossil fuel use is not an option without the

viability of alternative sources, the only way to

reduce energy use and manage emissions is

therefore to maximize its efficiency.

The Steel Project’s core technical objective was to

facilitate access to energy-efficient technologies (EETs)

for steel re-rolling mills (SRRMs). The report surveyed

SRRM units across clusters, observing technology and

production processes and identifying opportunities for

EET interventions. The report stated that SRRMs in

India are typically of two types, each having its own

technical specifications. Bar mills are ingot-/ billet-based

rolling mills, with a typical capacity of 50–100 tonnes

per day (TPD). They are equipped with a roughing mill

an intermediate mill, a finishing mill, rotary shearing,

repeaters, and a thermo-mechanically treated (TMT) line

with a cooling system (i.e., TMT cooling line, hot water

pump, cold water pump, pinch roll, controls, and DC

motors). the SRRM sector.

The focus of energy-efficiency initiatives in India has

been limited mostly to the large industries. There has

been little progress in creating an energy-efficiency

‘culture’ among the thousands of small and medium

enterprises (SMEs) dotting the industrial landscape, even

though it is an acknowledged fact that the nation can

achieve tremendous energy savings through

interventions in the SME sector (defined as enterprises

with a cumulative investment of between ` 2.5 million to

` 100 million in the Indian context.

The steel re-rolling mill (SRRM) sector too has largely

been overlooked, with most energy-efficiency

interventions in the steel sector being limited to the large

integrated steel plants. The performance of the Indian

SRRM sector on key energy-efficiency parameters was

far from optimum. When compared with global SRRMs,

it was found that re-rolling mills in India tend to

consume up to 1.8 times more fuel oil than their foreign

counterparts. Where coal is used instead of fuel oil, the

difference is as much as three times

more.

Current Design & Operating Practice In Steel Rerolling

Mills was observed that most of the rerolling mills are

manually operated with least measurement and

monitoring equipment. All the mills have batch type

operation methodology and operated for 8-10 hours.

Reheating furnaces are operated for 12-14 hours

including preheating time of 3-4 hours. In most of the

rolling mills firing in furnaces are stopped at around 5-

6.00 pm and firing is restarted at around 4-5.00 am.

While shutting down the furnace all the openings of

furnace are closed loosely and one opening in the flue

tunnel is kept open. Most of the furnaces are constructed

based on the similar furnaces in nearby industry or as

advised by local designers without proper drawing or

consideration of thermal heat balance.

The location of burners is also not placed at technically

suitable locations resulting in uneven temperature

distribution in the furnace. Due to this most of the

heating is done in the soaking zone only resulting in

uneven soaking, more burning loss and more heat loss.

Heat recovery system/equipments installed are not

effective in most of the furnaces. Flue gas analyser to

indicate partial/complete combustion is also not

generally installed. Refractory in the furnace are

provided by hunch without consideration of thermal

requirement resulting in either more heat loss from the

furnace all and roof or damage to the refractories.

Pollution control equipments installed in the flue gas

circuit is not integrated scientifically

Photo UNDP India



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Proposed measures for improving energy efficiency in

steel rerolling sectors Generally the rerolling mill

industrialists are very innovative and enthusiastic to

accept low cost changes and install facilities with

immediate results. They need proper technical guideline

and specifications only. In SME sector there is

considerable scope of improvement in energy efficiency

as short term measure with least time and cost

involvement. Some of the measures are indicated below

:- Immediate measures/standard operating practices :

1. While shutting down the furnace all the openings of

furnace are to be closed properly closed and damper in

the flue tunnel just outside the furnace to be closed and

one opening after the damper is to be kept open. This

will reduce ingress of the air drastically into the furnace

after shutting down. 2. Basic instrumentation equipment

for measuring parameters of fuel oil and air pressure and

temperature to be maintained in the working condition

and monitored regularly. 3. Production to be planned in

advance to avoid delay. Further same type of material to

be charged at a time. Mixed charging to be avoided.

Furnace pressure to be maintained not more than 1-

1.5mm WC.

4. Charge to be heated in heating zone and soaking

zone burners should be used for soaking of the charge

for making the temperature distribution uniform with

minimum temperature difference with core. 5 Use of

skilled manpower and maintaining of standard operating

practices. Skilled manpower pool may be created by

giving proper training to the operators by experts This

will help in energy saving of around 3-5 percent and

burning loss will also be reduced.

Short Term Measures Zone temperature, air fuel ratio &

furnace pressure control It is recommended to operate

furnace with following control system - Zone

temperature control for individual zones - Air/fuel oil

ratio control for individual zones - Furnace pressure

control - Air and fuel oil flow measurement - Oxygen

content in flue gases control - Local gauges as per

requirement for monitoring Variable Speed Drive For

Combustion Air Blower VVVF type AC drive controller

shall be introduced for blowers. This will help to

regulate the speed depending upon the requirement of

combustion air at the varying furnace demand or during

break-down in mill or during mill setting or low load

conditions. [source steelworld]

High Efficiency Recuperator For Preheating Combustion

Air Properly designed waste heat recovery recuperator

is recommended for preheating combustion air to about

300 degree C for both heating zone and soaking zone

burners. The present air preheat temperature is only 0-

180 degree C. Energy Efficient Burners And Atomizing

Blowers The existing burner capacity needs to be

rechecked and recommended to replace these burners

with energy efficient burners. Also, a separate blower

shall be provided for atomizing the fuel. This will help

in energy saving of around 5-10 percent and burning loss

will also be reduced 1.5 to 0.5 percent. Long Term

Measures Long term measures like replacement of

existing reheating furnaces with modern design furnaces

having oxyfuel burners/recuperative burners will further

reduce the energy consumption to optimum level.

There is vast scope of improving energy efficiency of

rerolling mills in India. Industrialists are innovative and

ready to accept the changes which give them immediate

savings and results with least investment. The help they

need is technical specifications, standard operating

methodology and training to their manpower by experts

in this field. At the same time they need technical as well

as monitory support.

Regenerative Burners for Reheating Furnaces - A

regenerative burner is a heat recovery system that

recovers the waste heat of the furnace exhaust gas to

heat-up the combustion air of the furnace. The

regenerative burner uses heat reservoirs and dual heat-

recovering generators at each burner. During

combustion, one side of a burner combusts fuel while the

other accumulates the exhaust heat into the heat-

recovering generator. Then the burners switch so that the

one accumulating heat combusts the fuel and the other

now accumulates exhaust heat. Use of regenerative

burners for reheating furnaces can provide significant energy savings.

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In the iron and steel industry, large amounts of materials are processed,

transported and conveyed by massive equipment that dwarfs that of most

industries. Steel works typically have sophisticated safety and health

programmes to address hazards in an environment that can be unforgiving.

An integrated approach combining good engineering and maintenance

practices, safe job procedures, worker training and use of personal

protective equipment (PPE) is usually required to control hazards.

Burns may occur at many points in the steel-making process: at the front of

the furnace during tapping from molten metal or slag; from spills, spatters

or eruptions of hot metal from ladles or vessels during processing, teeming

(pouring) or transporting; and from contact with hot metal as it is being

formed into a final product. Water entrapped by molten metal or slag may

generate explosive forces that launch hot metal or material over a wide

area. Inserting a damp implement into molten metal may also cause violent

eruptions.

Mechanical transport is essential in iron and steel manufacturing but

exposes workers to potential struck-by and caught- between hazards.

Overhead travelling cranes are found in almost all areas of steel works.

Most large works also rely heavily on the use of fixed-rail equipment and

large industrial tractors for transporting materials.

Safety programs for crane use require training to ensure proper and safe operation of the crane and rigging of loads

to prevent dropped loads; good communication and use of standard hand signals between crane drivers and slingers

to prevent injuries from unexpected crane movement; inspection and maintenance programs for crane parts, lifting

tackle, slings and hooks to prevent dropped loads; and safe means of access to cranes to avoid falls and accidents on

crane transverse ways.

Maintaining proper clearance for passage of large industrial tractors and other equipment and preventing unexpected

start-up and movement are necessary to eliminate struck-by, struck-against and caught-between hazards to

equipment operators, pedestrians and other vehicle operators. Programs are also necessary for inspection and

maintenance of equipment safety appliances and passageways.

Good housekeeping is a cornerstone of safety in iron and steel works. Floors and passageways can quickly become

obstructed with material and implements that pose a tripping hazard. Large quantities of greases, oils and lubricants

are used and if spilled can easily become a slipping hazard on walking or working surfaces.

Tools are subject to heavy wear and soon become compromised and perhaps dangerous to use. Although mechanization has

greatly lessened the amount of manual handling in the industry, ergonomic strains still may occur on many occasions. Sharp

edges or burrs on steel products or metal bands pose cut and puncture hazards to workers involved in finishing, shipping and

scrap handling operations. Cut-resistant gloves and wrist guards are often used to eliminate injuries.

Protective eye-wear programs are particularly important in iron and steel works. Foreign-body eye hazards are prevalent in most

areas, especially in raw material handling and steel finishing, where grinding, welding and burning are conducted.

Programmed maintenance is particularly important for accident prevention. Its purpose is to ensure the efficiency of the

equipment and maintain fully operative guards, because failure may cause accidents. Adhering to safe operating practices and

safety rules is also very important because of the complexity, size and speed of process equipment and

machinery.

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Continue to next issue>

TAXATION NEWS

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

CENTRAL BOARD OF EXCISE AND CUSTOMS

Notification No. 53/2014-Customs(N.T.)

S.O.(E) – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in

supersession of the notification of the Government of Indian in the Ministry of Finance (Department of

Revenue) No.49/2014-CUSTOMS(N.T.) dated the 3rd July, 2014 vide number S.O. 1684(E), dated the

3rd July, 2014, except as respects things done or omitted to be done before such supersession, the Central

Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the

foreign currency specified in column(2) of each of Schedule I and Schedule II annexed hereto into Indian

currency or vice versa shall, with effect from 18th July, 2014 be the rate mentioned against it in the

corresponding entry column(3) thereof, for the purpose of the said section, relating to imported and export

goods.

SCHEDULE – I

Sl.

No.

Foreign Currency Rate of exchange of one unit of foreign currency

equivalent to Indian rupees

(1) (2) (3)

(a) (b)

(For Imported Goods) (For Export Goods)

1. Australian Dollar 57.05 55.70

2. Bahrain Dinar 164.30 155.25

3. Canadian Dollar 56.75 55.40

4. Danish Kroner 11.10 10.75

5. EURO 82.40 80.45

6. Hong Kong Dollar 7.85 7.70

7. Kuwait Dinar 219.80 207.20

8. New Zealand Dollar 52.95 51.65

9. Norwegian Kroner 9.85 9.55

10. Pound Sterling 104.40 102.10

11. Singapore Dollar 49.05 47.95

12. South African Rand 5.80 5.50

13. Saudi Arabian Riyal 16.50 15.60

14. Swedish Kroner 8.95 8.70

15. Swiss Franc 68.00 66.15

16. UAE Dirham 16.85 15.95

17. US Dollar 60.70 59.70

SCHEDULE – II Sl.

No.

Foreign Currency Rate of exchange of 100units of foreign currency equivalent

to Indian rupees

(1) (2) (3)

(a) (b)



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(For Imported Goods) (For Export Goods)

1. Japanese Yen 60.05 58.55

2. Kenya Shilling 70.70 66.60

(F.No.468/01/2014-Cus.V)

(SATYAJIT MOHANTY)

DIRECTOR (ICD)

GOVERNMENT OF WEST BENGAL

DIRECTORATE OF COMMERCIAL TAXES

14, BELIAGHATA ROAD, KOLKATA-700015

Trade Circular No. 13/2014

Date : 13.08.2014

Sub : e-service for cancellation of Certificate of Registration

In order to extend e-service to the dealers, Directorate is continuously engaged in introducing newer e-

service or expanding already available e-services. The latest of such services, that is going to be

introduced, is the online facility to be available for filling application for cancellation of certificate of

registration by a dealer, registered under the WBVAT Act, 2003, WBST Act, 1994 or CST Act, 1956.

To start with, Directorate will provide a link in the website www.wbcomtax.gov.in through which a

willing registered dealer would be allowed to apply online for cancellation of RC after selecting the Act,

and filling up necessary particulars. On successful submission, an automatically generated

Acknowledgement Slip will be displayed containing the Application Number. The dealer has to note

down Acknowledgement Number as well as take print of the Acknowledgement Slip and the Application.

The dealer is also allowed to take re-prints of those documents using the links provided in the menu page.

After this online process is completed, the dealer is required to submit manually the print copies of

Application Form, Application Slip, Registration Certificate and other necessary documents at the

respective Charge Office for disposal of his application manually.

This new system will replace the existing manual application system with immediate effect.

S/d-13.08.2014

(Binod Kumar)

Commissioner,

Sales Tax, West Bengal

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EVENTS

Minerals, Metals, Metallurgy & Materials (MMMM) 2014

4-7, September 2014

Pragati Maidan

New Delhi

For Booking & Enquiries

International Trade and Exhibitions India Pvt. Ltd.

1106-1107, Kailash Building, 26 K.G. Marg, New Delhi- 110001, India

Tel: +91 11 40828282

Gagan Sahni: +919810036183

Varun Sharma:+91 11 40828208

Smita Roy: +91 11 40828217

Sandeep Arora: +91 11 40828227

13th International Stainless & Special Steels 2 - 4 September 2014

Hotel InterContinental

Istanbul, Turkey

AMM 8th Steel Scrap Conference 10 - 11 September 2014

Hilton New Orleans Riverside

New Orleans, U.S.A

From 28-30 October 2014, Messe Duesseldorf India with its parent company, Messe Duesseldorf GmbH {organiser

of wire and TUBE Duesseldorf, GIFA,

METEC, THERMPROCESS and NEWCAST (GMTN)} and MESSE ESSEN GmbH (organiser of Schweissen &

Schneiden), will organise 4 leading trade fairs for the metals industry in India. They are Metallurgy India 2014, Wire

& Cable India 2014, Tube India International 2014 and INDIA ESSEN WELDING & CUTTING 2014 in

halls 1, 5 and 6 at the Bombay Convention & Exhibition Center, Goregaon (East), Mumbai.

Middle East Steel Conference(MESC) 2014

Date : 21st – 23rd October, 2014

Venue : Inter Continental, Festival City, Dubai, UAE TOP

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http://www.metalbulletin.com/events/international-stainless-special-steel-summit/details.html

http://www.metalbulletin.com/events/amm-steel-scrap-conference/details.html



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STEEL NEWS

India to become 2nd largest Steel Producer : Arcelor Mittal

INDIA’s economic prospects have improved and is likely to see major reforms as the coalition era has

ended with the new government’s majority in the Lok Sabha, steel giant Arcelor Mittal has said. It further

said that India has poised to become the second largest global steel producer, and mergers and

acquisitions in the country’s steel sector are likely to remain active. It may be noted that Arcelor

0Mittal’s proposed Rs.50,000 crore project in Jharkhand is stuck for over eight years now for want of

regulatory clearances and land acquisition. It had scrapped Rs.50,000 crore project in Odisha last year on

account of problems in land acquisition and securing ore linkages. The company had recently said that it

continued to pursue Greenfield projects in Jharkhand and Karnataka.

Economic prospects have improved in India as the incoming government has won a Parliamentary

majority in the Lower House, which breaks the long run of coalition governments, and is expected to

allow for significant economic reforms. Arcelor Mittal said in a report. The growth prospects in the

country are bright, it added. The country has become the world’s third largest steel consumer after China

and the United States and is expected soon to become the world’s second largest steel producer

worldwide it said.

The merger and acquisition activities are expected to remain active in the Indian steel and mining industry

though at a lower considering the current economic slowdown. The integration of Ispat industries into

JSW Steel was a major consolidation step in 2010, the report said. Arcelor Mittal has plans set up a 12

million tonne per annum(mtpa) steel plant in Jharkhand at an estimated investment of Rs.50,000 crore,

which has been stuck. In July last year it had scrapped its proposed 12mtpa Odisha project, tipped as one

of the biggest foreign investment proposals, due to inordinate problems in acquiring land and securing

iron ore linkages. Besides it has plans to set up a 6mtpa plant in Karnataka. The company recently has

said : “In India, the company continues to pursue its greenfield projects in Jharkhand and Karnataka. In

Karnataka, the government has transferred 2660 acres of private land in the company’s name.

Indian steel majors form India Steel Association

(Follow @steelguru on Twitter for important updates)

ET reported that India’s major domestic steel producers came together to formally launch an industry

body, the Indian Steel Association (ISA), on Tuesday

The meeting was attended by industry leaders from SAIL, Tata Steel, JSW, RINL, JSPL, Essar in the

presence of Mr. G Mohan Kumar, Secretary, Ministry of Steel.

Mr CS Verma Chairman SAIL was unanimously elected as the first President of the Indian Steel

Association and Mr Sajjan Jindal Chairman & Managing Director of JSW, Mr TV Narendran MD of Tata

Steel and Mr P Madhusudan CMD of RINL will be apex committee members.

The membership of ISA will be open to any steel producer with a yearly capacity of at least 2 million

tonne. Steel producers with capacity less than 2 million tonnes can be affiliate members.

The association aims to work towards transforming the Indian steel industry as a global leader acclaimed

for its Quality, Productivity & Competitiveness.



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The ISA received a shot in the arm soon after its creation through recognition from World Steel

Association during the meeting. A certificate to this effect was presented on behalf of Chairman and

Board of Directors of World Steel Association. Dr Edwin Basson, Director General, World Steel

Association, was present during the meeting and he outlined the role and responsibilities of such an

association in a competitive scenario.

In the meeting. Secretary Steel, G Mohan Kumar, in his address to the association, stressed that the

members of the association were expected to work with cohesion, collaboration and coordination to deal

with the common issues of concern of the Indian steel industry.

Source – Economic Times

Get latest updates through Twitter – Follow @steelguru

(www.steelguru.com)

Odisha revise iron ore output data for 10 years


Officials said that a mammoth exercise conducted by the Odisha government recently to revise iron ore output data

of 187 miners for a period of 10 years starting 2000-01 will not have any impact on the INR 59,000 crore penalty

order issued for excess production,

They however, said that the miners can appeal for revision of penalty based on revised figures at the time of hearing

at courts. Mr Deepak Mohanty, director of mines with the state government, said that "The demand notice issued in

excess mining cases remain valid and this reconciliation (of output data) is not going to affect the order. The revised

data though can be quoted at the time of hearing."

Government officials said that the revised figure, however, is not significantly different from the previous figures.

An official involved in the data revising process in the government said that "There were some clerical errors

regarding output data like 50,000 tonne was quoted as 500,000 tonne. But barring a few such cases, the total output

figure is not significantly different from the output data quoted for excess output penalty."

In November 2012, the state government had fined 104 iron and manganese ore mine lease holders for extracting

minerals beyond approved quantity and asked them to pay the market price for the excess production. The recovery

notice, sent to top steelmakers such as TATA Steel, SAIL, and state-run Odisha Mining Corporation (OMC)

amounted to INR 59,000 crore. Nearly all the miners have gone to the Revision Authority under Union mines

ministry challenging the order and have obtained stay order over the penalty notice.

The penalty notice quoted mineral output figures provided by joint verification of a team comprising officials from

state steel and mines department, forest and environment department, Indian Bureau of Mines (IBM) and Odisha

State Pollution Control Board.

Source – Business Standard


(www.steelguru.com)

Steel Ministry proposes higher duty on steel imports into India

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Indian Express reported that the Indian steel ministry has suggested doubling the import duty on value added steel

products to 15% ad valorem from 7.5% currently with immediate effect”.

In a note dated August 12th to the finance ministry, the steel ministry has recommended imposition of “quantitative

restrictions” on import arrivals in the ports on the Western coast.

Burdened with a surplus steel production capacity of 250 million tonnes, China is trying to push its output into India.

The ministry said that apart from China, steel produced in Japan, South Korea, Ukraine are also finding their way

into the domestic markets.

The suggestions are based on representations from the steel companies last month, which say that the import surge

from China is hurting them even as they continue to battle paucity of iron ore and muted demand for the alloy.

The ministry added that while total steel imports from China surged by 100 per cent, it was up by 51% from South

Korea. Imports of hot rolled flat steel have increased by 57%. Of this, China saw a 460% increase and South Korea

259%.

Mr CS Verma chairman of SAIL chairman said that China is exporting a category of TMT bars (used by realty

sector) and its steel makers are availing lower duty and export benefits.

Source – Indian Express


(www.steelguru.com)

Indian steel exports earned at INR 86,822 crore in Apr11-Jun14


PTI reported that the country earned a revenue of INR 86,822 crore from steel exports during April 2011 to June

2014. Mr Vishnu Deo Sai minister of State for Steel and Mines said that “The revenue earned through exports of

alloy, non-alloy and semis between April 2014 and June 2014 stood at INR 7,971 crore.”

Mr Sai said that the revenue on account of steel exports stood at INR 29,994 crore in 2013 to 2014, INR 26,912

crore in 2012 to 2013 and INR 21,946 crore in 2011 to 2012, respectively. He said that “As the prices are essentially

market driven, government has no role in fixation of prices.”

He, however, added that the government has taken a number of steps for corrective measures that include formation

of an inter-ministerial group in the Ministry of Steel for expediting investment projects in the sector.

He further added that “To increase domestic value addition and improve iron ore availability for domestic steel

industry at reasonable prices, duty on export of iron ore has been increased to 30%. Recently the government has

imposed export duty of 5% ad valorem on export of iron ore pellets.”

Source – PTI Get latest updates through Twitter - Follow @steelguru

(www.steelguru.com)

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