News

Russia Severstal Group quit India steel project

Russian steelmaker Severstal has announced
it quitted from the Indian joint venture plant project, which result to the
future direction of the project is unknown. Severstal Group is already the
third foreign-funded enterprises quit India steel construction projects this
year. Earlier, South Korea’s POSCO abandoned Karnataka construction plans
because land acquisition problem. The ArcelorMittal because of the slow
progress of the project issues quitted Orissa construction plans.

Severstal and Indian state-owned miner
National Mineral Development Corporation of India (NMDC) had reached an
agreement in 2010 about Karnataka jointly build an annual output of 300 tons of
steel mill. However, because the Indian government reluctant to transfer the
majority stake to Severstal, the project has been stopped. Severstal said
difficult business environment of India lead to its exit the project. NMDC did not
declare how to develop the project in future, NMDC may be carry out
independently. NMDC can be through cash reserves and bank loans to India to
finance the project. However, NDMC has several developing projects, and
previously expressed focus on completed Chhattisgarh Province with an annual
output of 3 million tons of steel construction. Meanwhile, through the
construction of new mines and the development of existing projects, domestic
iron ore production capacity will be expanded from 32 million tons / year to 48
million tons / year.

Brazil
levy anti-dumping duties to China stainless steel pipe

Brazil’s Foreign Ministry announced on July
29, levied anti-dumping duties from China mainland and China Taiwan imports of
circular welded austenitic stainless steel (outer diameter 6mm-2.03m, thickness
0.4mm-12.7mm), valid for five years. In which to Zhe Jiang Jiuli Special
Material Technology Co., Ltd. tax rate is zero, other mainland enterprises¡¯
anti-dumping duty is $ 679.08 / ton; To China Taiwan Yun Qiang Industrial Co.,
Ltd. of anti-dumping duties levied $ 359.66 / ton, other Taiwan enterprises¡¯ anti-dumping
duty is $ 911.71 / ton.

To reply South American steel companies Aperam
applications, Brazilian authorities initiated an investigation on the case in last
September, investigation period is from January 2007 to December 2011.

Ontrend Industrial Limited is high quality Carbon
Steel Pipe
, Steel Wire and Tinplate supplier in China, if you
have any need, please feel free to visit our website.

Leave a Reply