Export Shipment from Chennai to Worldwide.

Import Shipment from Worldwide to Chennai.


TRC Shipping and Logistics Pvt. Ltd.,
197 (Old No.97) Thambu Chetty Street,
Mannady,
Chennai - 600001

Tel : +91 44 30400798
Fax: +91 44 25245231

Email : chozzhan@gmail.com

Website : www.trcsl.co.in

Our Shipping Directory : www.shipie.com

Sunday, November 16, 2008

Centre Mulls Export Ban On Flat Steel Products, Iron Ore to Check Prices

Steel industry may be in for another shock with the centre now considering banning exports of falt steel products with a view to check rising inflation.

“If the prices of flat steel products are not being kept in check, either the export duty can be increased or a ban an exports can be considered to increase domestic availability,” committee of secretaries (CoS) observed in its last meeting, it also noted that the government may consider increasing export duty on long steel products and subsequently explore the possibility of banning iron ore exports to increase domestic availability. Steel prices have since January this year shot up by around 50%, adding to the double-digit inflation, which is hovering at a 13-year high of just below 12%.

The government had on June 13 exempted flat rolled products of iron and steel, including galvanized products pipes and tubes that attracted export duty ranging from 5 to 15% ad-valorem, from the purview of the export duty,

The rate of export duty on long products such as bars and rods, angles, shapes, sections and wires was also increased from 10 to 15% and a 15% ad- valorem duty was imposed on iron ore.

The CoS decided that the ministry of steel in consultation with department of revenue for increasing the domestic availability of steel and moderating its prices, The ministry will also consider proposals for implementation in early August when the three-month self-moratorium imposed by major steel producers to hold their price line expires.

The ministry will quickly undertake an analysis on the options available for moderating the prices of iron ore and submit it for consideration of the company of secretaries during the next meeting, they added. Till February, domestic prices of steel products were higher than the Freight on board (FOB) export prices, While in January the domestic ex-factory price of bars were $694 ore tonne and the FOB export price was $ 600 per tonne, After various fiscal measures annouched by the government in April-May, domestic prices have been continuously increasing. In June, domestic prices were $779 per tonne compared to FOB price of $ 1, 280 per tonne.

Steel secretary RS pandey had on Wednesday said in the absence of government
Intervention, domestic prices currently will have been higher by about Rs.10,000 to Rs.15,000 per tonne. According to steel ministry, the increase in steel prices during June was primarily.

2 comments:

Making Money Online Jobs said...

I like to read more shipping and forwarding news here. I need to get more information about online business.


Part Time Jobs

Work at Home -

Data Entry Jobs

Jobs Online in Part Time-

Part Time Jobs-

Chennai Jobs Online-

Indian Share Market Online News-

Money Making Online Jobs-

Home Jobs Online Work-

Jobs Online Paid Surveys-

Data Entry Part Time Jobs-

Jobs Online Work for Easy Money -

Daily Salary Jobs-

Jobs Free Work Money-

Indian Online Blog -

Affiliate Programs-

Indian Friends Online Community-

Work Earn Free Money

Indian Online Raaga Music MP3 Songs

Indian Hunting Games-

Natural Organic Fertilizer-

Home Based Business Opportunity-

Online Raaga Tamil Songs-

Work Home Online Jobs




Part Time Jobs

Work at Home-

TSR said...

MAX PROFITS TRADING JUST STOCK FUTS ,NOTHING ELSE..!!

http://www.niftyviews.com/

Hi Friends,we have high success rate in Intraday stock calls,our testimonial is our clients with whom you can chat online in our live chat.


We dont just trade, we create wealth.

Every small and big investors can make money through our nifty calls, trade from 1 to 10 lots to get huge profits consistently.
We top it up with attractive rates which you will make up by just trading 1 day.

Yes, we are that confident of our calls.

Come online to our 24hrs free chatroom where 200++ members trade together at: www.niftyviews.com
Also check the performance before you suscribe at: http://www.future-friend.blogspot.com/

FOR PROCEDURE TO JOIN US http://groups.google.com/group/STOCKRESEARCHER/web/payment-details


JOIN US ON FACEBOOK : http://www.facebook.com/topic.php?topic=10328&uid=150506088274#/group.php?gid=150506088274

Join Us On TWITTER : http://twitter.com/Niftyviews2009

Join our Google group: http://groups.google.com/group/STOCKRESEARCHER

Add me on orkut for daily updates: http://www.orkut.com/Profile.aspx?uid=1619632468359550031

For free calls on your cell phone
SMS- JOIN Sresearchers and send to 567678
Or SMS ON Sresearchers to 09870807070