‘Mineral auctions to reduce steel’s competitive edge’ The Indian steel industry is a relieved lot today. The MIP and safeguard duty have come as timely rescue measures. However, the government, while providing relief with one hand, is mulling to take it away with the other. In our Cover Story, Amitabh Mudgal, Senior VP (Marketing & Corporate Affairs), Monnet Ispat & Energy Ltd, strongly opposes auctioning of natural resources, be it coal or iron ore, alleging such a policy would further reduce the competitive strength of the Indian steel industry. Feature: In the near-term, the recently imposed MIP may provide a better environment for ferro alloy producers, with improved domestic demand from higher steel production, but this is unlikely to be sufficient to absorb the surplus ferro alloy supply available. International: The Iranian steel industry is at the crossroads. It is a perfect Catch-22 situation. While lifting of international sanctions could be the perfect launching pad for attaining 55 mt production capacity by, it is also caught in the turbulence of the global steel industry. Rapid expansion of the industry would be the need of hour. Interview: The scrap players are often unable to seize opportunities when global prices are high. With prices falling, scrap yards are not making money. Players could even terminate contracts if they find these non-remunerative. If the scrap market in India has to get organised, the government has to implement rules, says Abhijeet Mahanta, Head of India Ferrous Operations, EMR. Also watch out for our regular sections on coking coal prices, ferro alloys and corporates.