Ministry seeks 6-month extension of MIP on steel: Sources

The Steel Ministry has requested for an extension of the minimum import price (MIP) on 173 categories of steel. The ministry has written to the Commerce Ministry seeking an extension of six months for the protectionist levy, reports CNBC-TV18’s Anshu Sharma. The current MIP on steel products will expire on August 5. Steel Ministry, in February this year, had implemented MIP on 173 steel products to protect the industry against anti-dumping. The steel industry is also hoping for some decision in anti-dumping measures this month. Watch video for more...