According to local Indian sources, India's steel ministry is considering removing the five percent import duty on stainless and alloy steel scrap metal.
In the view of the steel ministry, the withdrawal of the import duty on both types of scrap metal in question would be in line with the government's policy of supporting and encouraging the consumption of recycled raw material for the production of value added steel.
Commenting on the withdrawal option, Indian Stainless Steel Development Association president NC Mathur said, "There is an urgent need to withdraw the import duty on stainless and alloy steel scrap as there are no alternatives for these raw materials in the domestic market."