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XV Steel Development Strategy Conference Steel Metal Mining Coal Power
;Gas Oil Inf-金属展-冶金展-2019广州巨浪国际金属暨冶金工业展览会-亚洲最大金属冶金展-巨浪展览-2019 China(Guangzhou)Int’l Metal & Metallurgy Exhibition-meta
3/5/2019 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo- |
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Business Line last week reported that India’s steel ministry has junked a proposal to alter Minimum Import Price on steel as domestic prices of the commodity have recovered. Steel Minister, Birender Singh, told BusinessLine that “If you see in the last three months there was a INR 10,000 a tonne to INR 12,000 a tonne reduction in prices, so there is no situation of prices going up as being said. My personal view is that the general consumer should not feel that there is any pinch. We are very much aware of that. Steel industry has recovered from the situation that had come about over the past three-four years. I would say that we are on the correct path and if the industry will need more support to be competitive, we are ready for that. Some of the representations are with us, and a small group of industry people have suggested this to us. I don’t think there is any urgent or immediate need for that. There is no MIP…when there is nothing visible, you can use the word shelved.”
Commenting on the firming up of domestic steel prices and the inventory status of Indian steel producers, Managing Director of Tata Steel Mr TV Narendran, said that “Steel inventories went up in November-December. They went up a little bit in January also, but since then things have changed, international prices have gone up by about USD 50 a tonne in the last few weeks, and so as a consequence, Indian producers are also exporting more. That is helping bring down the inventory in the country.”
Mr Narendran added that “The demand in the country is also growing. I think the auto industry is struggling a little bit. But, the other sectors are growing, the infrastructure spends continue to be quite strong and the rural markets we see are also continuing to pick up steam. So, demand is continuing to improve and this is probably the best time of the year for steel production from January to June…The inventories have already dropped in February and we expect them to drop further in March,”
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