Indian Nickel Rises 1.2% as the Government Proposes 15% Duties on Foreign Steel

by on

The government of India, this weekend, proposed a hike in the peak rate of import duties on steel products from 10 to 15%. The move, if approved, will likely stem the flood of cheap imports from Russia and China.

Free Download: How to Achieve Cost Certainty for International Stainless Steel Trades

While this was part of recommendations made by finance minister Arun Jaitley in his budget speech, the timing of the decision will depend on the government notification after the budget is approved by Parliament so there is no immediate relief in sight for stainless steel producers who have been hit particularly hard by the cheap imports.

 

{Comments Off on Indian Nickel Rises 1.2% as the Government Proposes 15% Duties on Foreign Steel Comments Off on Indian Nickel Rises 1.2% as the Government Proposes 15% Duties on Foreign Steel}