The regime on Tuesday proceeded with hostility to the anti-dumping obligation on a specific assortment of steel items till December 15 2021 this year with the end goal of guarding domestic manufacturers against frugal imports from nations, including China, Japan, and Korea. The commerce ministry had recently recommended a $25 per tonne import duty on metallurgical coke (met coke) which is a key raw material for the steel sector.
Several domestic Steelmakers have opposed the anti-dumping duty. Secretary-general of the Indian Steel Association contended that such a toll of hostile to unloading obligation on met coke will have an expense push impact on the steel area in India. Imposition of any such obligation will make the cost of completed steel increment by Rs 700-1,500 a ton.
Met coke costs have significantly increased since January this time since the time the case was begun and it is at present directing around $350 a ton, with practically no signs of dying down.
Domestic steelmakers dread that the Imposition against anti-dumping duty will additionally deteriorate what is going on by increasing the prices of inputs though sale realizations have remained more or less flattish.