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Govt Mulling MIP On Colour-Coated Steel Products

Representational Image
Representational Image

The government may soon impose anti-dumping duty on 19 colour-coated Steel products with a view to protect domestic players from cheap inbound shipments and give a fillip to the sector.

Currently, the government has imposed minimum import price (MIP) on these 19 products, which are mainly colour-coated steel items, till 4 February.

“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,” steel secretary Aruna Sharma said to Press Trust of India.

She said that anti-dumping investigation is already in the process on these 19 products.

“These 19 should not circumvent with it therefore we have put it (MIP) at this stage. On that also, we will move on to the anti-dumping route. Before February it should happen,” Sharma said.

She said that the government was not against imports but was against dumping.

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 on, the number of products were reduced.

Steel makers had urged the government to extend MIP on certain products, saying its imposition has marginally improved the industry’s viability after a long period of subdued prices.

Accelerating 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.

Post the imposition of MIP in February, the industry has been able to marginally improve viability after a long period of subdued prices and eroded profit margins, the Indian Steel Association had said.

This post first appeared on Latest India News, Breaking News Live, Current Hea, please read the originial post: here

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Govt Mulling MIP On Colour-Coated Steel Products


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