China steel News

Metals major Vedanta today said its subsidiary Sterlite Ports will redevelop Mormugao port in Goa on Develop, Build, Finance, Operate and Transfer (DBFOT) basis for 30 years.

Metals and mining group Vedanta today said the Goan iron ore arm reported sales of 1.6 million tonnes (MT) during January-March quarter of the last fiscal

Government's move to protect domestic aluminium producers by raising import duty on the metal has been neutralised by doubling of cess on coal, mining baron Anil Agarwal said today.

China's crude steel output continues to decline, data from the country's top economic planner shows.

Decision regarding imposition of safeguard duty on import of steel will not be delayed if the Directorate General of Safeguards recommends restrictive duty, Revenue Secretary Shaktikanta Das said on Friday.

Plunging iron ore prices are providing a lifeline for some of China`s biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the European Union and countries such as India.

As much as 2.9 million tonnes of steel was imported from China in the first 10 months of the current fiscal, as against 8.1 MT of total inward shipments of the metal, the government said today.

India`s steel imports from China, the world`s biggest producer of the alloy, doubled in April-September from a year ago though the country has enough capacity to meet its demand.