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ISA appealed to the Indian authorities to impose restrictions on the import of steel products

ISA — the Indian iron and steel Association. It is composed of the six largest steel producers in India. The other day she issued an appeal to the state authorities. The Association asks to impose restrictions on imports of steel products. In April, the country received 630 thousand tons. Interestingly, in April 2018 was imported by 6.1% more. But over the same period this year dropped the volume of exports. The decrease was 17.8%. So it was delivered abroad 580 thousand tons. However, there is strong growth in export volumes from Japan and Korea. It is known that the two countries signed a free trade agreement.

The share of exports from Korea and Japan accounted for 57% of imports. Mean of the total recorded in April. In particular the volume of imports from Korea amounted to 245 thousand tons. In April of last year the figure was 15% less. From Japan it was imported 116 thousand tons. This exceeds the figure for the same period last year by 27%. However, in April declined, Chinese exports to India. Chinese steelmakers put 88 thousand tons. In April 2018, the result was 29% more.

The Association recalled that the Japanese and Korean companies have the advantage. They are not subject to import duties. Recall, they operate on high-quality and sheet hire. For the first stake is 10% and the second to 12.5%. In addition, there is a tariff on hot-rolled steel. It is 10%. He acts only in one case. The cost of production that is imported must be less than 445 dollars. Mean per ton CIF. This is almost $ 100 below current market prices.

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