India’s steel exports rise 16.7% in 2017-18
Finished steel exports from the country increased 16.7 per cent to 9.62 million tonnes in 2017-18, which included 8.73 million tonnes of non-alloy steels and 0.89 million tonnes of alloy/stainless steels.
India exported 8.25 million tonnes of finished steel, which included 7.59 million tonnes of non-alloy steels and 0.66 million tonnes of alloy/stainless steels in 2016-17.
Stating this in the Lok Sabha on Monday, minister of state for steel Vishnu Deo Sai also said total steel production in the country increased to 103.13 million tonnes in 2017-18 from 88.98 million tonnes in 2014-15.
The minister said the government has notified the National Steel Policy, 2017 and the Policy for Providing Preference to Domestically Manufactured Iron and Steel (DMI&SP) in government procurement, in order to create a facilitative environment to improve domestic production and consumption of steel.
Besides, he said, the government has taken various measures with a view to provide relief to the domestic industry.
• Increased customs duty on steel in two phases-in June 2015 and August 2015, by 2.5 per cent each;
• Minimum Import Price (MIP) imposed on specified steel products in February 2016. MIP has since expired in February 2017;
• Imposed 20 per cent Safeguard Duty on Hot Rolled Coils, provisionally in September 2015 and finally notified in August 2016;
• Imposed Safeguard Duty on Hot Rolled (not in coils), provisionally in August and finally notified in November 2016;
• Imposed anti-dumping measures for HR Coils provisionally in August 2016 and finally notified in May 2017;
• Imposed anti-dumping measures for CR Coils provisionally in August 2016 and finally notified in May 2017;
• Imposed anti-dumping measures for wire rods provisionally in September 2016 and finally notified in October 2017;
• Imposed anti-dumping duties for Colour Coated Steel provisionally in January 2017 and final notification issued in October 2017.
• Carried out sunset review of SS Cold Rolled 600-1250mm wherein duties were extended up to 2020; on China, additional Countervailing Duty (CVD) of 18.95 per cent imposed for 5 years from September 2017;
• Imposed anti-dumping duties on SS Hot Rolled products in March 2014 which is valid up to 2020; on China, additional CVD of 18.95 per cent imposed for 5 years from September 2017.
The government also issued quality control orders namely Steel and Steel Products (Quality Control) Order, 2018, covering 47 carbon/alloy steel and 6 stainless steel products. The quality control order prohibits manufacturing / import of sub-standard / seconds and defective products.
Replying to a question the minister also said India has not been much impacted by the tariff imposed by USA since India’s exports to the USA were just around 2.2 per cent before the imposition of the tariff.
Source :- Hellenicshippingnews.com