Why Steelmakers Want Price Floor On Imports

8 August 2016

The government on Thursday extended the mimimum price regime for steel imports for another two months, but slashed the list of such items to 66 from the 173 notified in Februray this year.

The brief extension of this relief clearly shows that while the government is mindful of the problems faced by domestic steelmakers it is unwilling to make the measure permanent at the cost of the user industry or appear protectionist.

A price floor on imports of 173 steel items was imposed in February this year to safeguard the domestic steel industry--already struggling to maintain margins and repay loans--against a flood of cheap imports from China, Japan and Korea.


Source : indiatimes.com