Post safeguard duty on HRC, Indian steel mills have filed petition with DG Safeguards for imposition of safeguard duty on hot rolled plates, according to sources.
India’s plate market has observed significant increase in imports from China, Korea, and Indonesia since last one year. While plate imports surged by 35% its prices in domestic market registered a fall of about 30% Y-o-Y basis.
In order to deal with this import influx, India’s integrated steel players have filed petition with DGS for imposition of safeguard duty even on plates.
“We have filed a petition with DG safe guards looking at cheap import of plates. “said an official with one of the largest plate maker in India.
This move came after Indian government’s announcement on Sep 15 for imposition of 20% provisional safeguard duty on hot rolled coils above (width) 600mm.
Plates Offers
Current imported offers for commercial grade (A36) plates is being assessed at USD 290-295/MT from China, USD 310-320/MT from Indonesia, and USD 330/MT from Korea. All prices are on CNF India basis. Domestic offers in India are being assessed in the range of INR 26,500-27,000/MT (ex-works, excluding excise).
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