India’s Ministry of Commerce and Industry has announced a minimum import price for steel imports, valid for six months from the date of notification, February 5, or until further announcements.
All API grade steel conforming to X-52 and higher API grades for manufacturing pipes used for pipeline transportation systems in the oil and gas industry will be exempt from the minimum import price. In addition, imports covered by letters of credit already entered into before the date of notification will be exempt from the minimum import price.
The minimum steel import prices are as follows:
Billets: $362/mt
Slabs: $341/mt
Hot rolled steel products: $445-500/mt
Cold rolled steel products: $560/mt
Alloy flat rolled products: $445-752/mt