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The new management will be leveraging and complementing

Bhushan Steel&China hexagonal nuts Manufacturers39;s Odisha plant is presently operating at 3. We are working to raise the production at least to a level of 4 MT a year by March 2019 as demand remains robust," the official, who is part of the new team installed # by Tata Steel in the company, told PTI.Tata Steel had earlier said there was a lot of synergies in taking over Bhushan Steel.Tata Steel took almost a decade to build 3 MT plant at Kalinganagar while the takeover of Bhushan Steel offered the steel major a readily available 5 MT plant, boosting its flat products. "The Bhushan plant in Odisha has a capacity of 5 MT but is currently operating at 3.

The new plant will follow Tata Steel's strategy of not just being a steel producer but a service company with extensive use of technology.Though Bhushan Steel will continue to be operated as a standalone outfit for the time being, a change of name is imminent to make it resemble a Tata company..5 MT against a capacity of 5 MT, the official said.5 MT. Kolkata: After acquiring debt-laden Bhushan Steel through the insolvency and bankruptcy process, Tata Steel is now aiming to raise its production to 4 million tonne (MT) by the end of the current fiscal, an official said. Tata Steel had earlier said there was a lot of synergies in taking over Bhushan Steel.The Bhushan Steel plant is located close to Tata Steel's Kalinganagar facility where it has a 3 MT capacity.

The new management will be leveraging and complementing marketing strengths of Tata Steel, the official said."Safety and environment aspects need to be strengthened in Bhushan Steel as they are not up to our (Tata Steel's) internal standards," he said. The official said the Kalinganagar plant expansion is on track despite Bhushan's takeover at Rs 36,000 crore. After acquiring debt-laden Bhushan Steel through the insolvency and bankruptcy process, Tata Steel is now aiming to raise its production to 4 million tonne (MT) by the end of the current fiscal, an official said

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The producers have been complaining about steel

Citing the vulnerability of local mills, the ministry said the nation’s steel sector needs “protection from unfairly traded cheap steel imports” as well as lower input costs.Japan, South Korea and member countries of the Association of Southeast Asian Nations, which all have free trade agreements on steel with India, accounted for 58 per cent of its imports of the alloy, while 18 per cent of its incoming steel came from China.India’s top four steelmakers - JSW Steel Ltd, Tata Steel Ltd, state-owned Steel Authority of India Ltd and Jindal Steel and Power Ltd - together control over 45 per cent of India’s total steel production..1 million) if the import duties were implemented, although it is the finance ministry that makes the final decision.5 per cent, citing a threat from Chinese imports and excess global capacity, an internal note reviewed by Reuters showed.“The US-China trade war is threatening Indian markets as China looks for alternative markets” for its steel exports, India’s steel ministry said.Reuters previously reported that India feared Chinese steel flooding its markets as fallout from Beijing’s escalating trade war with Washington.

The producers have been complaining about steel being dumped into India for the last several months.The steel ministry said government revenues could increase by 13.The steel ministry has proposed the higher duties as part of its recommendations to the finance ministry for the upcoming 2019-20 budget that is due out on July 5.66 billion rupees if the import duties were implemented.The steel and finance ministries did not immediately reply to Reuters emails seeking comment. New Delhi: India’s steel ministry has sought an immediate increase in import duties on finished steel products to 15 per cent from a range of 7.5 per cent to 12.

Peak rates (for all steel products) may be raised to 25 per cent to meet any contingency arising from potential adverse global market turmoil,” it said.The steel ministry said government revenues could increase by 13.66 billion rupees (USD 196.Over 50 per cent of India’s imports of wire rods and bars - both long steel products used in construction - came from China last year, government data showed.India’s steel ministry has also sought cuts to import duties on coking coal, steel scrap and graphite electrodes to reduce raw material costs for making steel. China hex nuts Manufacturers ‘The US-China trade war is threatening Indian markets as China looks for alternative markets’ for its steel exports.Existing anti-dumping and countervailing duties have been rendered ineffective by the volatility in steel prices, the ministry said.India turned from net exporter to net importer of steel during the 2018-19 fiscal year as local demand increased and imports jumped from Japan, Korea and China

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This will take some time to implement given the wide membership base

The BSPS Trustee will, in due course, communicate with all scheme members about the separation and the proposed new scheme," it said. "All the members of the BSPS will now be invited to transfer to the new scheme which would have lower future annual increases for pensioners.," it said.The BSPS had been the major hurdle to future plans for Tata Steel in the UK and the latest move had been welcomed by workers&DIN935 HEX NUT39; unions who had voted in favour of a deal earlier this year. New Delhi: Tata Steel on Monday announced that it has concluded a new agreement under which its UK business stands separated from the 15-billion pound British Steel Pension Scheme (BSPS).

Trade unions Community, Unite and GMB in a joint statement had welcomed the RAA announcement, which included a commitment that Tata will stand behind a new scheme with reduced annual increases. Tata Steel maintained that the agreement offered "more sustainable outcomes for pensioners, employees and the business"..Last month, Tats Steel had announced clinching of the deal facilitating detachment of the BSPS from its UK business. Tata Steel has concluded a new agreement under which its UK business stands separated from the British Steel Pension Scheme."Tata Steel UK has received confirmation from the pensions regulator that it has approved a regulated apportionment arrangement (RAA) in respect of BSPS," Tata Steel said in a statement here.The BSPS has now been separated from Tata Steel UK and a number of affiliated companies, it added.Last month, Tats Steel had announced clinching of the deal facilitating detachment of the BSPS from its UK business.

The net financial impact of RAA including the payment of the agreed 550 million pound will be reflected in Q2 FY18 financials for the company," he added.As part of the arrangement, a payment of 550 million pound has been made to BSPS by Tata Steel UK and shares in Tata Steel UK, equivalent to 33 per cent stake, have been issued to the BSPS trustee, the steel giant said.Koushaik Chatterjee, Tata Steel's Group Executive Director, said: "The completion of RAA follows many months of hard work to provide the most sustainable outcome for pensioners, current employees and the business.

This will take some time to implement, given the wide membership base.The pact, signed by Tata Steel with the trustee of the BSPS, will pave the way for the Indian steel major's potential merger with German giant ThyssenKrupp.RAA is a mechanism that allows a financially troubled employer in the UK to detach itself from defined benefit scheme liabilities.The company on May 16 had announced that the key commercial terms of an RAA had been agreed in-principle between the company and the pension # scheme trustee.."The next step involves necessary formalities to set up the new scheme with lower risk profile following necessary member consent process led by the trustee, he said.The company, in the statement, said its UK business has agreed to sponsor a proposed new pension scheme subject to meeting of certain qualifying conditions.

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The imports of the total finished steel grew

Consumption stood at 8. The imports of the total finished steel grew 1.The country had exported 8.638 MT in January 2019, up by 79.During April-January 2018-19, "India&DIN935 HEX NUT39;s consumption of the total finished steel saw a growth of 7.5 per cent to 6.55 MT during April-January of 2018-18, compared with 6.India has set a target of ramping up its steel production capacity and per-capita steel consumption to 300 MT and 160 kg, respectively, by 2030-31.8 per cent from 0.58 MT was up by 1.3 per cent to 5.8 per cent at 79.18 MT from 104.411 MT in January 2019, up by 6.Production of the total finished steel, the JPC said, grew 4.56 MT in the corresponding period of the previous fiscal.96 MT over the same period of last year, under the influence of a rising indigenous supply side.

The country had exported 8.61 MT in January, it said.55 MT during April-January of 2018-18, compared with 6.2 per cent over January 2018," the JPC said."India was a net importer of total finished steel in April-January 2018-19 and imports stood at 0.During January this year, the exports stood at 0.22 MT of finished steel during the corresponding period a year ago, the Joint Plant Committee (JPC) said in its latest report.15 million tonne (MT) in the April-January period of the current financial year, according to official data.45 MT in the year-ago period.In January, the production of finished steel at 11.

The imports of the total finished steel grew 1.22 MT # of finished steel during the corresponding period a year ago, the Joint Plant Committee (JPC) said.47 MT, down by 22. (Photo: File) New Delhi: The country's exports of finished steel fell 37.JPC, under the Ministry of Steel, is the only institution in the country that collects and maintains data on the domestic iron and steel sector.5 per cent to 6. per cent over January 2018," the JPC said.4 per cent to 109.8 per cent over January 2018.45 MT in the year-ago period.

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