To Protect Domestic Producers, India Imposes Hefty Duty on Hot Rolled Imports
09/14/2015 - The Indian government has imposed a temporary 20-percent duty on certain imported steel products, according to Reuters.
The news service said the safeguard duty applies to hot rolled coils at least 600 mm wide, a bit more than 2.5 feet. The duty is to remain in place for 200 days.
According to Reuters, the Indian steel market is the only growing at the moment. The products that would be subject to the duty account for more than half of the 5.5 million metric tons of steel that was exported to India in the last fiscal year, it said.
The move follows a recommendation from the country’s Directorate General of Safeguards. The recommendation arose from a joint complaint over imports filed by the Steel Authority of India Ltd., JSW Steel Ltd. and Essar Steel, Reuters said.
According to Reuters, the Indian steel market is the only growing at the moment. The products that would be subject to the duty account for more than half of the 5.5 million metric tons of steel that was exported to India in the last fiscal year, it said.
The move follows a recommendation from the country’s Directorate General of Safeguards. The recommendation arose from a joint complaint over imports filed by the Steel Authority of India Ltd., JSW Steel Ltd. and Essar Steel, Reuters said.
