The picture gives you the change in steel import volumes over last five years into India during 2015-2020 on Anti Dumping Duties, Import tariffs etc.. But mostly I must explain the volume of 5-6 Million MT imports is largely due to #FTA with #Korea, #Japan and neighbouring nations. Now basic customs duty changed to 7.5% from 10% and anti dumping duty removed temporarily may not have sizeable effect on domestic steel business as imports largely are in few auto grades and alloy steels always and spoilers in bar and rods have mistakenly done it and spoiled their own records in India. #International#Steel#pricing is quite higher than our domestic prices for import duty reduction to cause a effect. We welcome the 2.5% duty elimination on imported #steel#scrap by Indian Government.Budget presented was wholesome and lots of positives for steel business #SajjanJindalNaveen JindalT V NarendranDilip OommenSoma MondalSteel Authority of India LimitedRashtriya Ispat Nigam Limited, Vizag Steel PlantJSW SteelJindal Steel & Power Ltd.Tata SteelDavid ErnsbergerS&P Global Platts MetalsJindal Stainless#ministryofsteelNarendra Modi ji
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