The steel industry expects the government to bring in a mechanism in the upcoming interim budget to help curb cheap imports, as rising steel imports are a cause for concern for the sector.
The country became a net importer of finished steel during the first nine months (Apr-Dec) of the current fiscal (specifically in November), with imports at 5.6 million tonnes (mt) and exports at 4.7mt.
Finished steel includes non-alloyed offerings, alloyed ones, and stainless steel.
“With December numbers further widening the gap between exports and imports, it is set to become a huge problem. We have petitioned the government with a request to, at least, bring in a mechanism that ensures that the imports do not continue unabated. We expect something on those lines in the budget," said an executive of a large domestic steel maker.
The executive added that these requests were made during a meeting of steel ministry executives last month.
Diese Geschichte stammt aus der January 12, 2024-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der January 12, 2024-Ausgabe von Mint Mumbai.
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