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Indian steel mills asked the government to restrict imports once again


Indian steel manufacturers require the government to improve some steel imports duty rates,from the current 7.5% to 15%, aimed at limiting steel imports.They said some lower grade steel products are importing to India in the disguise of higher steel grades to avoid duty.This brings certain influence to the local steel mill, their prices are also in control.They say "we don't want to be one dumping ground of rejected by the rest of the world of these steel."

According to the statistics from Indian Ministry of Steel,steel imports volumn surged 71% from China,reach to 952.7 thousand tons from April-August 2014.China becomes the largest steel source country to India, accounting for 31%;Steel imports from South Korea and Japan also be increased significantly, by 21% and 18% respectively.South Korea and Japan signed a free trade agreement with India, so Japan and South Korea steel suppliers can export to India under duty-free.

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