MUMBAI: The government’s recent move to curb imports of both alloy and non-alloy steel products is expected to help increase the realisations of domestic producers of these goods, a rating agency said today.
The government has hiked the import duty on non-alloy steel products by 2.5 per cent as domestic producers struggle to cope with surging cheap imports from China and South Korea, among other countries.
Non-alloy steel flats now command an import duty of 10 per cent, while non-alloy steel longs attract a duty of 7.5 per cent.