Chinese Steel

The state-run SAIL has continued to buy steelmaking coking coal from Russia at 75,000 tons per ship

The cut has failed to rein in prices, as domestic steel mills raised flat steel prices by about Rs 1,500 a tonne after the announcement

The Wall Street bank sees downside risks in agricultural and energy markets, citing the recent strength as surprising given the massive inventory overhangs and depressed demand

Soft demand from the property and manufacturing sectors will limit Chinese steel demand growth. Korean demand will soften because of the sluggish construction and auto sectors.

India may impose anti-dumping duty of up to USD 185.51 per tonne for five years on certain varieties of Chinese steel with a view to guard domestic players from cheap imports of the commodity from the neighbouring country. JSW Steel Ltd, Sunflag Iron & Steel Co, Usha Martin, Gerdau Steel India, Vardhman Special Steels and Jayaswal Neco Industries Ltd had jointly filed an application for initiation of the investigations and levying of anti-dumping duties on the steel. In its anti-dumping investigations, the Directorate General of Trade Remedies (DGTR) has stated that dumped imports of 'straight length bars and rods of alloy steel' from China have increased in absolute terms during the period of probe (2016-17). It said that the dumped imports are undercutting the prices of the domestic industry and due to this the domestic industry's profits, return on capital employed and cash profits have declined during 2016-17. "The authority recommends imposition of anti-dumping duty" on the ..