India may impose taxes and quotas on exports of iron ore from the country in order to increase availability of the raw material for the domestic steel industry, the Indian steel minister, Virbhadra Singh, stated this week, according to Indian media reports.
"The government has taken a few policy measures to discourage avoidable exports of iron ore and consequently raise domestic availability by increasing export duty on lump ores to 15 percent and having a five percent duty on fines. Although this will have a marginal impact on exports, the government would have to look at the question differently by bringing in definitive deterrence," Mr. Singh said.
"If needed, we will resort to taxation measures and quantitative restrictions to conserve the use of iron ore for today and for the future. But such measures can be brought in a phased manner with a clear long-term plan," he said.
The minister was addressing a press conference on "Challenges for Indian Steel Industry in Infrastructure and Resources", organized by the Federation of Indian Chambers of Commerce and Industry (FICCI).
Minister Singh said his ministry was in close touch with the mines ministry to formulate a new mining policy to ensure domestic coking coal supplies. He also asked public sector enterprises to invest aggressively in the acquisition of mining assets.
Recently, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) recommended imposing a 20 percent duty on exports of iron ore fines as against the current five percent.
India's iron ore exports are directed mainly to China. Most iron ore in the Chinese import iron ore spot market is from India.
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sábado, 22 de mayo de 2010
miércoles, 5 de mayo de 2010
EUROFER: EU steel trade surplus reflects downtrend in steel imports
Wednesday, 05 May 2010 02:13:43
In 2009 the European Union registered for the first time since 2005 a trade surplus in its steel trade. This rather reflects the downward trend in imports in 2009 than a significant rise in EU steel exports, which have been remarkably stable over recent years, according to the Economic and Steel Market Outlook 2010-2011/Q2 2010 Report from EUROFER's Economic Committee, released by the European Confederation of Iron and Steel Industries (EUROFER).
The trade surplus is basically in long products. Robust demand for construction related steel products such as rebar in North Africa and the Middle East offered steel mills in Europe the opportunity to offset weakened demand in the domestic market. Particularly Algeria has been a major export destination for EU long product producers, absorbing 35 percent of total exports of longs.
According to EUROFER, the outlook for 2010 is for a slight increase in exports. However, following a relatively strong start in the first quarter, export volumes are seen trending downwards in the remainder of the year. Existing projects in the key export markets around the Mediterranean Sea are coming to an end while large new projects were postponed during 2009 because of financing problems.
On balance, EU steel exports are expected to increase by almost three percent in 2010. The outlook for 2011 is for exports to stabilize at the 2010 level. Improving demand fundamentals in the EU market will result in EU steel mills being primarily geared for expanding business in their domestic markets instead of the international export markets.
http://hectorhec.jimdo.com
In 2009 the European Union registered for the first time since 2005 a trade surplus in its steel trade. This rather reflects the downward trend in imports in 2009 than a significant rise in EU steel exports, which have been remarkably stable over recent years, according to the Economic and Steel Market Outlook 2010-2011/Q2 2010 Report from EUROFER's Economic Committee, released by the European Confederation of Iron and Steel Industries (EUROFER).
The trade surplus is basically in long products. Robust demand for construction related steel products such as rebar in North Africa and the Middle East offered steel mills in Europe the opportunity to offset weakened demand in the domestic market. Particularly Algeria has been a major export destination for EU long product producers, absorbing 35 percent of total exports of longs.
According to EUROFER, the outlook for 2010 is for a slight increase in exports. However, following a relatively strong start in the first quarter, export volumes are seen trending downwards in the remainder of the year. Existing projects in the key export markets around the Mediterranean Sea are coming to an end while large new projects were postponed during 2009 because of financing problems.
On balance, EU steel exports are expected to increase by almost three percent in 2010. The outlook for 2011 is for exports to stabilize at the 2010 level. Improving demand fundamentals in the EU market will result in EU steel mills being primarily geared for expanding business in their domestic markets instead of the international export markets.
http://hectorhec.jimdo.com
Spain posts first year-on-year rise in industrial output since Feb 2008
In March this year, Spain's industrial production index improved for the first time since February 2008 on year-on-year basis, according to the statistics released by Spain's National Institute of Statistics (INE).
In the third month of 2010, Spain's industrial production rose 12.87 percent over February and was up 6.76 percent year on year. March was the second consecutive month for which an increase on month-on-month basis was registered.
According to INE, in the given month, basic iron, steel and ferroalloy production surged 25.6 percent, manufacture of articles of iron or steel rose by two percent, while the motor vehicle output of the country increased by 26.7 percent, all compared to March 2009.
http://hectorhec.jimdo.com
In the third month of 2010, Spain's industrial production rose 12.87 percent over February and was up 6.76 percent year on year. March was the second consecutive month for which an increase on month-on-month basis was registered.
According to INE, in the given month, basic iron, steel and ferroalloy production surged 25.6 percent, manufacture of articles of iron or steel rose by two percent, while the motor vehicle output of the country increased by 26.7 percent, all compared to March 2009.
http://hectorhec.jimdo.com
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