NEW DELHI: The Government said there would be no extension of protectionist minimum import price (MIP) on 19 steel related products.
The Government had imposed minimum import price (MIP) on these 19 products, which are mainly colour-coated steel items, till February 4. However, the Government may impose anti-dumping duty on these 19 colour-coated steel products if required, Sharma said.
Last month, the Government had said that it may impose anti-dumping duty with a view to protect domestic players from cheap inbound shipments.
“The MIP was on 173 items. We have brought it down to 19. Rest of them, we have converted into anti-dumping. “Anti-dumping will continue as the evidences are there,” the Steel Secretary had earlier said.
The 19 products include semi-finished products of iron or non-alloyed steel, flat-rolled products of different widths, bars and rods.
For the first time, MIP was imposed in February last year on 173 items. But, later the number of products were reduced.
Rising imports at predatory prices from steel surplus countries like China, Japan and Korea have been a major concern area for the domestic industry since September 2014.
Source: Dailyshippingtimes.com
