Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: cpt :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT RATES :: ACCOUNTING STANDARD :: VAT Audit :: TDS :: list of goods taxed at 4% :: due date for vat payment
 
 
News Headlines »
 10 ways you get benefited from filing your tax return
 Returns under CGST Act,2017 with Rules
 Ten facts to know about filing income tax return this year
 The Ten Commandments of Tax Filing
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended

Global steel production outlook seen positive
June, 03rd 2008

The world steel industry outlook is promising with production seen rising to 1.5 billion tonnes in 2009, up from 1.4 billion tonnes in 2008, a Bureau of International Recycling (BIR) conference heard on Monday.

"The future outlook for the worldwide steel industry is very good," said Christian Rubach of German waste management firm Interseroh Hansa Recycling. Demand is also seen growing with apparent steel use expected to total 1.282 billion tonnes this year, up 6.7 percent from 2007, according to data from the International Iron and Steel Institute (IISI).

Rubach, who is also President of the Bureau of International Recycling (BIR) Ferrous Division, said Brazil, Russia, India and China (BRIC) were leading growth with an expected increase of 11.1 per cent for 2008 and 10.3 percent for 2009. "China's apparent steel use is expected to grow by over 10 percent in 2008 and by 10 percent in 2009," Rubach said, adding China accounted for 35 percent of the world total this year.

In the European Union a total of 210 million tonnes of steel were produced in 2007, up 1.6 percent from the previous year, said the Ferrous Division's Vice President Anton van Genuchten. "World steel production capacity is seen increasing by nearly 19 percent between 2007 and 2010," van Genuchten said, citing data from the OECD. He said that the only factor that could stop demand for steel and therefore scrap, used to supply some 40 percent of world's total crude steel production, was the consumer.

"The market is taking a breather at the moment after the price jumped in April and May," he said. But demand was seen firm and there was little scrap available so prices could go even higher in the second half of 2008, after nearly doubling since the start of this year.

Turkey is the main buyer of European steel scrap, and EU exports to Turkey increased by 22.6 percent to 5.9 million tonnes in 2007 from the previous year.

On the import front, the major supplier of scrap into the EU is Russia delivering a total of 1.7 million tonnes of steel scrap in 2007. This figure was down by nearly 50 percent year-on-year, van Genuchten said.

"The reduction is a result of the Russian scrap staying at home to feed their new electric arc furnaces (EAF)," he said. EAF is a production process whereby scrap steel is used as feedstock instead of iron ore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions