In a major development, Pakistan’s government has announced relief measures on HRC and stainless steel imports in today’s budget, as per reports. The government has announced reduction/exemption of CD, ACD and RD on import of flat-rolled products of carbon and stainless steel. This move is expected to benefit domestic cold-rolling and coated steel producers such as International Steel, Aisha Steel, etc. which are heavily dependent on imported HRC, sources told SteelMint. We need to see by how much percentage these duties will be reduced to understand the impact on landed cost, highlighted a Pakistan based trader.
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