India needs to impose tariffs on steel imports, SAIL's chairman says
October 09, 2024 01:17:28 PM
NEW DELHI, Oct 9 (Reuters) - India needs to impose tariffs on steel imports for an even playing field for the domestic industry, Steel Authority of India's (SAIL.NS) Chairman Amarendu Prakash told Reuters on the sidelines of the FT Live Energy Transition Summit India on Wednesday.
India's finished steel imports from China hit a seven-year high during the first five months of fiscal 2025, according to provisional government data last month.
On Tuesday, ArcelorMittal Nippon Steel India's CEO Dilip Oommen said India should double the customs duty on steel to keep imports in check as the country faces dumping of steel and predatory pricing.
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Steel Export Market Prices
| Material | Price | Change |
|---|---|---|
| Stainless Seamless Pipe 304 108*4 mm | $ 2196.65 | 11.34 |
| Stainless Scrap 304 Solid | $ 1296.97 | -12.95 |
| Stainless Bar 321 60 mm | $ 2197.04 | -13.10 |
| Stainless Bar 304 60 mm | $ 1956.28 | -13.25 |
| Stainless HR Coil 304/No.1 6.0 mm | $ 1902.08 | -9.39 |