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India 2021 union Budget to boost imports from Chinese steel products

发布时间:[2021-2-17 11:5:50]    浏览量:17次
According to the report, the Indian Finance Minister planned to reduce import tariffs of 7.5% on semi-finished products, plates and long products of non-alloy, alloy and stainless steel, respectively, meanwhile, canceling scrap tariffs until March 31, 2022.
The Indian Stainless Steel Development Association (ISSDA) indicated that the temporary abolition of countervailing duties on imported of stainless steel flat products gave rise to hit the domestic industry.
Some market participant stated that stainless steel products accounted for 3% of India’s total steel demand, but more than one-third of the industry is composed of small and medium enterprises, the Indian 2021 union Budget has likely impacted the operation from those companies.