Mines min seeks MIP on aluminum; pegs prices at $1996/tonne:Srcs

The Mines Ministry has submitted a revised minimum import prices (MIP) to the Commerce Ministry, sources said. Mines Ministry has been looking to impose MIP on aluminum products for the last 6 months. CNBC-TV18’s Anshu Sharma, quoting sources, said that revised MIP for primary aluminum products is likely to be USD 1996 per tonne. For secondary aluminum products, MIP is likely to be range of USD 2275-3266 per tonne.For plates and strips, proposed MIP is USD 2566 a tonne and for tubes and pipes it is likely to be USD 3000 a tonne. The MIP on aluminum will help protect the industry against cheap imports to China, Middle East, Thailand, Vietnam and Malaysia. Watch video for more..