Monday, 14 Feb 2011
The Indian small and micro steel industry has requested the government to cut down import duty to nil from 5% and also levy duty on HR coils to contain inflation.
All India Confederation of Small & Micro Industries Association President Mr Sudarshan Sareen said that “Steel manufacturers have increased prices by 30% in the last two months anticipating that Australia may hike the coke price in view of the recent floods that impacted its coal mines.”
Mr Sareen said that there is no reason for the Indian steel producers to effect a hefty INR 9,000 per tonne increase in prices in January and February 2011.
(sourced:PTI)
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