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Indian forging industry demands transparency in steel pricing-The 17th China£¨Guangzhou£©Int¡¯l Sheetmetal machinery, Forging, Stamping and Setting Equipment Exhibition
3/1/2016 Sheetmetal machinery, Forging, Stamping expo |
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The Association of Indian Forging Industry, the apex body of the sector and a key player in the auto component manufacturing sector, has demanded transparency in steel pricing by aligning to a weighted index of prices of essential inputs for steelmaking and relaxation in mandatory BIS certification for carbon steel imports.
Mr Muralishankar Sambasivam, vice-president, AIFI said ¡°Currently, the industry is faced with an unprecedented crisis due to factors like steel pricing issue, minimum import price on steel imports and compulsory BIS certification. The forging industry being a critical part of the Indian manufacturing industry stands to get adversely impacted and these challenges need immediate attention.¡±
Addressing mediapersons on Friday, he said apart from catering to the automotive sector, solar, aerospace, railways and wind sector, the forging industry also plays a key role in contributing to the forex by way of huge exports.
He pointed out ¡°The key challenge and concern before us is the global slowdown, which has roiled commodity markets and lowered steel prices to more-than-a-decade-low levels in the last 18 months. Prices of major input materials like steel scrap, coke, iron ore have dropped by more than 30% globally over a year. Internationally prices for plain carbon steel used for the forging industry has come down to as low as $390-$450/tonne.¡±
As per a survey conducted by AIFI in 2016, the estimated turnover of 384 forging units operating in FY15 was INR 6,100 crore, providing employment to around 100,000 people. The investment in plant & machinery also increased from INR 15,500 crore in FY14 to Rs 27,833 crore in FY15. Overall production of forgings increased from 21.1 lakh tonne to 22.5 lakh tonne
-The 17th China£¨Guangzhou£©Int¡¯l Sheetmetal machinery,
Forging, Stamping and Setting Equipment Exhibition
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