Steel exports melt 34 to 636 mt in 201819

Steel exports melt 34 to 636 mt in 201819

first_imgNew Delhi: The country’s total steel exports fell 34 per cent in 2018-19 to 6.36 million tonne (MT) compared to the preceding fiscal, Parliament was informed Monday. “In comparison to 2017-18 (9.62 million tonnes), India’s total steel export has declined by 34 per cent in 2018-19 and stood at 6.36 million tonnes,” Union Minister for Steel Dharmendra Pradhan said in a written reply to the Lok Sabha.He also informed the house that the government has taken appropriate measures such as anti-dumping and countervailing duties in order to protect the domestic industry from unfair external competition. Also Read – Maruti cuts production for 8th straight month in Sep”Government has also notified 53 Steel and Steel Product (Quality Control) Orders which is applicable for both domestic production as well as imports,” he said. The Steel Quality Control Order are implemented in the public interest for protection of human, animal and plant, safety of environment, prevention of unfair trade practices and national security, he added. He also said that trade related issues are a part of ongoing economic relationship discussion between India and the US. Meanwhile, steel consumers, who are feeling the pinch of high price of the metal in the Indian market, have demanded a policy intervention from the Centre to prevent steel producers from exporting steel below the domestic prices. Several industry bodies have written to Prime Minister Narendra Modi seeking his intervention. “The domestic steel should be supplied to the downstream industry at a price which is at par with international price,” said FINER.last_img

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