1 AUS-BRITISH MINER'S PLIGHT IN MONGOLIA HAS 'CHILLING EFFECT' ON INVESTMENT WWW.MININGMAGAZINE.COM  PUBLISHED:2025/04/03      2 ULAANBAATAR INTRODUCES ADVANCED AI SOFTWARE TO SUPPORT POLICE INVESTIGATION WWW.MONTSAME.MN PUBLISHED:2025/04/03      3 ION ENERGY SECURES $13.5M DEAL WWW.INSIDEMONGOLIA.MN PUBLISHED:2025/04/03      4 PROGRESS OF NATURAL GAS PIPELINE PROJECT PRESENTED TO CABINET WWW.MONTSAME.MN PUBLISHED:2025/04/03      5 ULAANBAATAR TO IMPLEMENT 24 MEGA PROJECTS UNDER INTERNATIONAL FIDIC CONTRACT STANDARDS WWW.MONTSAME.MN PUBLISHED:2025/04/03      6 INTERBANK TRANSACTIONS NOW USE IBAN NUMBERS WWW.MONTSAME.MN PUBLISHED:2025/04/03      7 MEERECOMPANY SIGNS MOU WITH THE MONGOLIAN CENTER FOR HEALTH DEVELOPMENT WWW.SURGICALROBOTICSTECHNOLOGY.COM PUBLISHED:2025/04/03      8 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      9 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      10 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      ХХОАТ-ЫГ 1 ХУВЬ БОЛГОХ САНАЛЫГ ТӨСВИЙН БАЙНГЫН ХОРООНД ШИЛЖҮҮЛЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/03     ГЕГ: АНУ-Д ХИЙСЭН ЭКСПОРТ 2024 ОНД $166.3 САЯ БОЛЖ, ӨМНӨХ ОНООС 4.5 ДАХИН ӨССӨН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/03     ХӨСҮТ: УЛААНБУРХНЫ 253 ТОХИОЛДОЛ БАТЛАГДАЖ, 7220 ХАВЬТАЛ БҮРТГЭГДЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/03     “JADE GAS” КОМПАНИ "УЛААН НУУР" ТАЛБАЙДАА ХОЁР ДАХЬ ХЭВТЭЭ ЦООНОГИЙН ӨРӨМДЛӨГӨӨ ЭХЛҮҮЛЭВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/03     БАНК ХООРОНДЫН ГҮЙЛГЭЭНД IBAN ДАНСНЫ ДУГААР АШИГЛАЖ ЭХЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/03     УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02    

Indian steel output rebounds after import curbs www.asia.nikkei.com

MUMBAI -- The Indian government's measures to combat cheap steel imports appear to be bearing fruit, with domestic steelmakers Tata Steel, JSW Steel and Essar Steel all reporting significant production increases in the first quarter of fiscal 2017.

The recovery is helpful to Indian steel companies burdened with high debt and low margins.

Indian operations of Tata Steel, which is divesting itself of money-losing operations in the U.K., recorded 8% growth in crude steel production to 2.5 million tons for the April-June quarter, with sales up 6% at 2.35 million tons. Automotive steel production hit a record 379,000 tons, the company said.

Integrated steel producer Essar Steel India reported 48% growth in flat-steel production in the first quarter at 1.22 million tons, compared with 824,000 tons in the same period last year. Pellet production grew 58%, from 1.28 million tons to 2.02 million tons.

Essar Steel believes that the upturn since March is due to minimum import pricing introduced for steel in February and quality controls applied by the Bureau of Indian Standards.

The improved volumes pushed Essar's operating margin to around 20% from 5%, which translates to an improvement of 6,000 rupees to 7,000 rupees per ton. "Following these measures by the Government of India, Chinese imports of steel at predatory prices [have] been contained, leading to better sales realization in the Indian market," Essar said.

JSW Steel has not yet released June production figures but registered 16% growth in crude steel output to 1.35 million tons in May. Demand for flat and long products grew 7% and 22% on the year.

Indian steelmakers had been lobbying against cheap imports, particularly from economically ailing China. India's iron and steel industry owes an estimated 3 trillion rupees ($44.4 billion) to banks. Tata Steel alone carries $12 billion in debt as a result of its outright purchase in 2007 of all of Corus Group's steel operations in Europe, the global economic slowdown, and cheap steel imports in Europe, particularly from China.

In February, Prime Minister Narendra Modi's government imposed minimum import prices ranging from $341 to $752 per ton for 173 types of steel. There is talk of extending them beyond August, when they are due to expire.

Other anti-dumping measures were imposed last year to regulate imports from such countries as China, South Korea and Japan. India's inbound steel shipments fell 34.2% to 654,000 tons in April from 994,000 tons in March, according to the latest official data. Steel imports rose 29% in the nine months ended December, which preceded the curbs.



Published Date:2016-07-06