On May 10, the government of India issued notification regarding the imposition of export duty on several steel products.
The duties were imposed with the aim of discouraging steel exports and, thereby, increasing domestic steel availability.
The new duties came into effect immediately.
The new duties are as follows:
Product | Duty rate |
Pig iron and spiegeleisen in pigs, blocks or other primary forms | 15 % |
Ferrous products obtained by DRI or other spongy ferrous products, in lumps, pellets or similar forms; iron having minimum purity by weight of 99.94%, in lump, pellets or similar forms | 15 % |
Ferrous waste and scrap, remelting scrap ingots of iron or steel | 15% |
Granules and powders, of pig iron, spiegeleisen, iron or steel | 15% |
Iron and non-alloy steel in ingots or other primary forms | 15% |
Semi-finished products of iron or non-alloy steel | 15% |
Flat rolled products of iron or non-alloy steel, hot rolled, not clad, plated or coated | 15% |
Flat rolled products of iron or non-alloy steel, cold rolled, not clad, plated or coated | 10% |
Flat rolled products of iron or non-alloy steel, plated or coated with zinc | 5% |
Bars and rods, hot rolled, in irregularly wound coils, of iron or non-alloy steel | 10% |
Other bars and rods of iron or non-alloy steel, not further worked than forged, hot rolled, hot drawn or hot extruded, but including those twisted after rolling | 10% |
Other bars and rods of iron or non-alloy steel | 10% |
Angles, shapes and sections of iron and non-alloy steel | 10% |
Wire of iron or non-alloy steel | 10% |
Tubes and pipes, of iron or steel | 10% |
* The issue of whether to exempt certain cold rolled, galvanized and coated sheets as well as pipes and tubes - the input material of which is procured through import of hot rolled coils under the Advance Licensing Scheme - from the new export duty is still under consideration.