Indian steel companies blamed poor earnings on seamless tube imports, India's steel capacity of about 10 million tons, production for the last fiscal year only about 4.5 million tons, the current capacity utilization rate of about 37%.By the end of march this year in fiscal year 2014, India imports of plate 580000 tons, up 81% over last fiscal year 320000 tons, imported about 350000 tons in the first half of fiscal 2015, full fiscal year imports are expected to reach 690000 tons.Following the width is greater than 600 mm hot rolling roll impose a 20% tax, safeguard measures India plate in many steel mills and seek to levy a tax on safeguard measures.Administration of Indian steel, steel, southwest of Beijing, such as steel allegations that in the past year the Indian plate imports surged, lead to falling steel prices, steel mills of loss.They are asking for width in more than 600 mm thick plate levy a tax on safeguard measures, aimed mainly at IS2062 and on the level, not including stainless steel plates, APIX - 52 and boiler pressure vessel steel plate, etc.
But India ratings said in a report released in the near future, India seamless steel tube enterprises are facing difficulties and not wholly to blame for foreign rivals.Large sums of money in the past few years many Indian steel plant capacity expansion, borrowing money has liability on its balance sheet.According to the agency, the 2014 fiscal year India several large iron and steel enterprises combined net debt of 1.626 trillion rupees ($24.45 billion), far higher than the 2010 fiscal year 922 billion rupees.Tata steel, officials said, from India and Japan and South Korea signed a comprehensive economic partnership agreement, since the steel imported from Japan and South Korea two countries is lower than the 1% duty was imposed, India imports since the two countries of seamless steel tube has almost doubled.The official said, predatory pricing policies implemented by the exporter to make India's domestic steel and imported steel prices further widening the gap between, cause almost no competitiveness of India's steel industry.For example, hot-rolled coil, Japan's export price is now $345 / ton (fob), the domestic price 34% lower.
Indian steel companies complain that low-priced imports from China, Japan and South Korea steel poured in India market.Southwest of Beijing, iron and steel company official said: "due to domestic raw material cost and the inland freight is much higher than steel from export countries, therefore we are unable to compete with cheap steel mouth."Half year, India's biggest Indian steel iron and steel enterprise administration after-tax profits net loss of 13.8 billion rupees ($207 million), which in the third quarter net loss of 10.6 billion rupees;Tata steel of India department after-tax profits fell 20% year on year, to 37.7 billion rupees.In the first half of fiscal 2015 (April to September), Indian steel enterprise profit decline has become the common norm.Indian officials blamed low-priced imported steel iron and steel enterprise put pressure on India's domestic steel prices, and impact on the margins.
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