Steel industry concerned over low-cost imports

Indian Steel Association continues to engage with the government to find solutions for appropriate trade measures to curb the low-cost imports of steel from China and ASEAN countries.

At present, China’s real estate industry is in a turmoil, due to which steel has become surplus. Along with various other products like MDF, plywood etc. due to reduced domestic consumption. Vietnam is adding to that problem. Even imports from Japan and Korea have been elvated in India.

Meanwhile, in India, the cost of raw material has come down due to coking coal. Taking advantage of this, the industry is expanding its capacity focusing on value-added products.

However, according to industry experts, China is now operating at less than marginal cost or variable cost. But despite this, to create pressure in the global market, it is promoting exports at even lower prices, which is creating additional pressure on Indian companies.

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