Manufacturing & Industrial

South Korea - Battery cell industry to be the next growth engine

Source: Asia Pulse, 19 July 2010

Many have said that the battery cells are the next memory chips. Memory chips have been a boon to the Korean economy, but secondary batteries have enormous growth potential. Approximately 80,000 units of electric and hybrid vehicles have been produced this year, with that number likely to balloon to 780,000 units by 2015 and 2.66 million units by 2020.

And if the international community starts acting tougher on environmental issues, demand could grow. If LG and Samsung become market leaders, the benefits to Korean economy could be as great as those from the memory chip industry. Notably, LG has already signed an exclusive contract to supply battery cells to support electric models by GM and Ford.

Philippines - Cement firms want 5% duty restored

Source: Manila Bulletin, 20 July 2010

Local cement manufacturers would formalize their position before the Tariff Commission to restore the five percent duty on imported cement saying the threat of imports flooding in an open market is very real. The Tariff Commission will conduct public hearing on July 28, regarding the review of the zero rates of duty on milling (food) wheat and cement and cement clinker.

The Cement Manufacturers Association of the Philippines (CeMAP) said they will formally present their position before the Commission against further extension of Executive Order (EO) 862 granting duty-free importation of cement and cement clinker. The EO will expire in August. Although the duty-free privilege has not encouraged cement imports to come in, it was effective in preventing further increases in prices of local cement.

India - 2nd largest steel maker by 2012

Source: Commodity Online, 24 July 2010

India is expected to become the 2nd largest steel producing nation by 2012 with a targeted production capacity of 120 million tons. This was disclosed by Virbhadra Singh, Union Minister of Steel. Singh said that modernisation and expansion programmes of Steel Authority of India Rashtriya Ispat Nigam Ltd are all in advanced stages of implementation.

He said India is the third largest producer of crude steel in the world surpassing developed countries like USA and Russia. Indian Steel Industry contributes to nearly 2% of Gross Domestic Production and employs over 500,000 people. The financial year 2010/11 has begun on a note of optimism for the steel sector and especially for the major PSUs under the Ministry s administrative control like SAIL RINL and NMDC Ltd.

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