Minimum import price on steel a short-term measure: Steel Min

The government said imposition of minimum import price (MIP) on steel is a short-term measure and it is taking permanent measures to counter unfair trade practices as per international norms .

"Chaudhary Birender Singh (Steel Minister) had emphasised that MIP is a short-term measure and not of a permanent nature," the steel ministry said in a statement today.

The ministry's statement was in response to some media reports.

The media reports which quoted the Steel Minister gave an impression that that Minimum Import Price on steel will be discontinued after 4 February 2017, the ministry said.

"In this connection, this is to clarify that the Minister was making a point in a wider context of providing level playing field to the Indian steel industry," the statement read.

A total of 124 steel products have been covered by provisional anti-dumping duties and final orders on the same are expected in due course, it further said.

As a result of the safeguards and anti-dumping measures, out of 173 items on which MIP was initially imposed, only 19 items are currently notified under MIP.

These are relating to colour-coated steel, primarily to avoid any circumvention of the duties. Two of colour-coated steel items are already covered under anti-dumping duties.