Indian steel pipe producers demand duty cut

Indian steel pipe producers demand duty cut

Indian steel pipe and tube makers requested from the government to reduce duty on certain iron and steel products under Chapter 73 from 16% to 8%. As previously reported by SteelOrbis, duty on certain steel products under Chapter 72 was reduced from 16% levels to 8% levels, however the government's not reducing the duty on products under Chapter 73 created tension among producers. The duties were reduced with the purpose of stabilizing steel prices. Moreover, the government warned steel producers in the country to lower their prices however, it is reported that these measures have not affected the prices and the prices are still following an upward trend.