Indian Sponge Iron Association proposes hike in import duty on HBI & DRI 

With federal budget round the corner,Indian Sponge Iron Manufacturers Association (SIMA) have proposed an increment in import duty on HBI & DRI products.

In a statement Mr  Deependra Kashiva, ED, SIMA said ” There is a sharp increase in  imports of HBI and DRI.More than 3 lac tonnes have been imported during Arp-Aug 2012, compared to 0.5 lac in 2011. Imports are mainly from Middle East, due to low cost of production as they have access to cheap gas as source of energy. We propose an import duty of 10% (currently at 5%) on HBI/DRI and other direct reduced iron.