India delays import duty on steel products

Published: 13 May 2009 02:24:43 PST

India delays import duty on steel products May 13 MetalBiz--It is reported that Indian government indicated yesterday on May 11th to postpone their policy of import duty on major steel products to 2 months later.

The proposal of imposing 25% import duty on steel products was brought up by Indian main steel producers, such as Essar and Ispat, meaning to protect domestic works from effect of cheap import resources.

Nevertheless, the Ministry of Commerce don't identify from statistics the actual damages claimed and thus decides to conduct further investigation and gather extensive opinions from local downstream industries before making final decision.