India will introduce comprehensive measures to safeguard duty plate or at the end

India will introduce comprehensive measures to safeguard duty plate or at the end
Following the September after the hot rolled coil to levy safeguard duty, India is developing a comprehensive strategy to limit steel imports and measures, and may be introduced by the end. The first implementation will be the safeguard duty plate, cold rolled coils will be considered later, billets and other steel products.
India's domestic steel mills in the end of October to submit a request to levy safeguard duty on the plate, on the grounds that plate imports increased significantly. Data show that this year, from April to October, the Indian plate imports 2.8 million tons, up by 10.6%. Plate import sources in India, China is still the largest supplier, although 4 - 181 thousand tons shipped in October, increased only 0.4%, and 12.5% of exports also face tariff. Indonesia is the second largest supplier, from April to October exports to India plate 136,000 tons, the export volume last year, more than 10 times, mainly Krakatau POSCO steel mill in March 2014 began to Indian hair goods, but also to benefit from the bilateral free trade agreement, exports enjoy zero tariffs. South Korea's third-largest supplier, from April to October for Indian exports 107,000 tons, more than double the increase over the same period last year, also benefit from a bilateral trade agreement, South Korea's rate of less than 1% of the plate.
Currently, Indonesia's plate export at $ 310 / tonne (CFR), China offer $ 280 / ton (CFR), plus 12.5% of the import duties, export prices roughly equal.
According to related sources, the Indian Plate safeguard duty is likely at the end of the introduction, and then consider other steel safeguard duty cold rolled coils, steel billets and so on. There may also introduced other measures such as import minimum price, the minimum price of hot rolled coil is based on production costs, the current cost of production of hot rolled steel in India is about $ 430 / ton.



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