In March of this year, the Indian government released the steel and steel products (quality control) on the 2nd (2012), announced that from September 12 this year.The paper says that to require authentication of the steel pressure vessel plates, for the production of ingots and billets of ordinary structural steel, 8mm above the high-strength rebar and wire rod, cold rolled non-oriented silicon steel and oriented silicon steel, hot rolled structural steel. Indian and foreign steel production of steel are required to meet the Bureau of Indian Standards (BIS) certification.
India's steel mills, BIS certification, ferroalloy and power will be consumed in the steel making process, which will lead to higher production costs, if steel prices rise, the profitability of some small steel mills will worsen.
Promulgation of the policy from March to September, this time a little pressed for a lot of steel mills, usually certified to take 6-8 months time. Indian steel ministry has made ??it clear that does not require the government a stay of execution, while reminding the steel mills do not make mistakes in the certification process.
Bureau of Indian Standards has said that September 12 may not be able to complete all the steel certification, especially foreign steel mills. Unexpected factors, the certification period may also need to be extended.
Unable to complete the certification of foreign steel, which may result in September, some steel products can not be imported or imports can not meet domestic demand in India, especially in India itself can not produce grain oriented silicon steel. India's steel ministry said that if this happens, some of the policies may temporarily be adjusted.
In the first half of this year, China's exports to India of 1.2 million tons of steel, about 7 percent increase over last year. Rebar exports of 68,000 tons, 90,000 tons of wire rod exports, 220,000 tons of plate, 255,000 tons of hot rolled, cold rolled 150,000 tons, 12,000 tons of electrical steel. I compared about the steel tariff, which the Chinese steel exports to India, the BIS certification is not much, little impact on the market.
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