The steel sector looks for ways to limit low-cost imports.
KJSS
India
12-01-2024
Share
The steel industry, which is concerned about increased imports of steel, anticipates that the government will implement a mechanism in the next interim budget to assist in controlling cheap imports. During the first nine months of the current fiscal year (April through December), the nation became a net importer of finished steel, with imports totaling 5.6 million tonnes (mt) and exports totaling 4.7mt. This shift occurred in November. Stainless steel, alloyed steel, and non-alloyed steel are all considered finished steel.
It is going to become a major issue since the data for December show that the difference between imports and exports is still growing. We have filed a petition with the government, asking them to, at minimum, implement a system that makes sure the imports don't go unchecked. We anticipate something along those lines.