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Steel export duty rollback: Too little, too late?

With steel prices having crashed, it may seem like there’s little to benefit from the removal of export duty. In some scenarios, companies could still benefit

November 21, 2022 / 01:08 PM IST
Steel export duty rollback: Too little, too late?

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The government has finally seen reason and removed the debilitating 15 percent export duty imposed on steel exports. Along with it, the export duty on low-grade iron ore too has been removed while higher grade ore will attract a lower duty now. These duties, imposed in May, have severely crimped India’s steel industry’s export appetite. The Street’s reaction to the removal of export duties has been lukewarm, either because it was anticipated or it’s a case of too little, too...

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