Indian Chamber of Commerce

“5thIndia Minerals & Metals Forum”

Ferrous& Non Ferrous

21stSeptember 2016, Hotel Shangri-la, New Delhi

Asyou are aware, the year 2015 was marked by deflation of commodityprices globally bringing down steel prices. In the Indian context,the drop was steeper than that of other raw materials, leading to asevere pressure on operating margins of steel plants. Besides, weakdemand in major steel producing countries such as China, Japan andSouth Korea led them to focus on exports at aggressive prices,including India, adversely impacting the domestic industry. It hasled to prices of some products coming to a ten-year low in the Indianmarket.

TheGovernment of India has taken several prudent steps to protect thedomestic steel industry, including raising import duties on long andflat products. But duties for steel imports from countries with FreeTrade Agreements (FTA) – such as Japan and South Korea – are muchlower at 1 per cent.

Further,the non-ferrous metals industry (Aluminium, Copper, Zinc, Lead, Tinand Nickel) is looking for a level-playing field against the surge inimports due to inverse duty structure as well as dumping of cheapsubsidized goods from China. The situation has been aggravated byIndia having the FTAs with ASEAN countries, which allows duty freeimports of finished goods. This jeopardizes domestic producersincluding SMEs, and has already caused a substantial number of plantsin the country to shut down. However, Union Budget 2016-17 hasaddressed the rising import issue by increasing Customs Duty onprimary aluminium from 5% to 7.5% and Basic Customs Duty on otheraluminium products from 7.5% to 10%.

Withthe above measures in place, the Industry certainly, is expected tohave a promising future in the coming times.

Againstthis background, the IndianChamber of Commerce(ICC)is organizing the 5thIndia Minerals and Metals Forum on the 21stof September, 2016 in New Delhi. TheSummit, over the years, has evolved as one of the most prominentConferences on the metal and mineral Industry in the country.

MrBirender Singh, Hon’bleUnion Minister of Steel, Government of India will grace the occasionas the “ChiefGuest ofthe summit.

Thedignitaries who will be attending the programme as Guestsof Honourare MrAnil Swarup,Secretary, Ministry of Coal, Government of India, MrBalvinder Kumar,Secretary, Ministry of Mines, Government of India andDrAruna Sharma,Secretary, Ministry of Steel, Government of India.

Othereminent dignitaries MrMalay Chatterji, CMD,KIOCL, MrS K Acharya, Chairman& Managing Director, Neyveli Lignite, MrSunil Duggal,CEO, Hindustan Zinc, MrHemal Shah, Partner,Ernst & Young, MrS K Roongta,Chairman, ICC National Expert Committee on Minerals & MetalsandMrVishal Agarwal, Chairman,ICC Odisha State Council and VC & MD, VISA Steel will alsoaddress the summit.

Onthis occasion, E & Y has prepared a Knowledge Document whichhighlights the overview of the Volatility in metal sector. The reportwill be released by the Chief Guest and other dignitaries presentduring the Inaugural Session.