Safeguard Duty

At a time when global growth has been wobbly, India has emerged as a bright spot, especially in consumption of steel, Secretary Poundrik said. The domestic consumption - at a per capita of 104 kilogram - is expected to rise significantly to Rs 155-160 kg by 2030, he said.

Goyal invokes 'karma' in nudge to steel makers to back local suppliers, avoid cheaper imports

Minister Piyush Goyal said that while the domestic steel industry requires protection from dumping of goods from other nations, they too have a duty and obligation to support local supply chain.

12% steel safeguard duty offers marginal relief as import parity intact, say analysts

Analysts also see a downward pressure on prices in the long term, stemming from global oversupply amid US tariffs and an economic downturn

MSME steel players may urge Centre not to impose 12% safeguard duty fearing price rise

One industry source said that the domestic steel prices could go up by 8-10 percent due to the proposed safeguard duty, hitting MSME exporters, since the metal constitutes 60 percent of their production cost.

Proposal to levy safeguard duty on steel imports still under consideration: DGTR

The call for protective measures come at a time when major steel companies are scaling back on capital expenditure and revising their guidance downward, with declining prices weighing on profitability.

In pre-Budget meet, EEPC suggests new income tax slab of 25% for MSMEs

Among other proposals, EEPC India recommended establishing a transparent and effective mechanism to ensure MSMEs can access steel at affordable price amid speculations that the government may introduce a safeguard duty on the metal.

India not imposing safeguard duty on optic fibre imports

Consideration into the matter began after domestic fibre optic players such as Birla Furukawa Fibre Optics and Sterlite Technologies complained about the boost in imports since July 2019.

Duty on safeguards for solar equipment may hit India's 2020-100 GW target: Industry

The Directorate General of Trade Remedies (DGTR), a recently created umbrella authority for trade matters, is scheduled to hold a public hearing in the national capital on Tuesday with regard to imposition of 70 per cent safeguard duty on imported solar equipment.

Demand still weak; miners must not up ore prices: Kalyani Steels

In an interview with CNBC-TV18, RK Goyal, MD of Kalyani Steel said that operating in a highly turbulent market the company has tried to cash in on any opportunity that came its way. This approach has led to the stock price surge and expansion in the company's margins, he said.

To take appropriate action against cheap aluminium imports:Goyal

Power, Coal and mines minister Piyush Goyal said the government is looking at the threat of cheap aluminum imports into India and is likely to take appropriate action soon.

Govt may retain MIP only on 66 steel products for 1-3 months

So far 173 products were under the ambit of MIP and sources say only 107 products have got recommendation for anti-dumping duty.

Steel processing industry says import safeguards one-sided

Downstream steel processing industry body Federation of Industries in India has alleged that protection provided by the government to domestic steel producers is "one-sided".

Remove anti-dumping duty on flexible slabstock polyol:Assocham

Government should remove anti-dumping duty on flexible slabstock polyol, a substance used for manufacturing pillows and mattresses, as the domestic production is not enough to cater to the local demand, industry body Assocham said on May 23

Hope for 15% safeguard duty on products: Aluminium Association

Satish Pai, Vice President of Aluminium Association of India says the 2 percent increase in import duty on aluminium, announced in the Union Budget, was negated by near doubling of green cess on coal, as 40 percent of aluminium's production cost is power.

5% safeguard duty on aluminum to have limited upside: Report

Aluminum producers are unlikely to realise price increases equivalent to the provisional 5percent safeguard duty as proposed by the Director General of Safeguards, given the structural issues including over-capacity, import pressure and weak demand.

UK deal helpful but sector snags may weigh on Tata Steel: Pros

While government initiatives like minimum import price and safeguard duty are aiding revival of the sector, Akash Gupta, Associate Director at Fitch Ratings, says he would keenly watch out for demand growth indicators and how companies handle competitive pressures to maintain their utilisation rates.

Steel import safeguard duty extended; local prices may not jump

The steep fall in steel prices over the last year, and dumping by rival countries has hurt the financial health of Indian steel makers. Many companies are now struggling to repay bank loans and this has added to the pile of non-performing assets (NPAs) in the banking system

Govt likely to extend safeguard duty on some steel products

"A notification on the issue will soon be released by the Finance Ministry as the safeguard duty comes to an end on March 31," an official said.

Steep steel price hikes unlikely; neutral JSW Steel: Jefferies

Despite a likely fall in imports owing to the import duty levied by the government, weak domestic fundamentals will not lift the prices of the alloy very much, feels the broking firm Jefferies.

Expecting safeguard duty on seamless pipes soon: Maha Seamless

Speaking to CNBC-TV18, Saket Jindal, MD of Maharashtra Seamless says, the company is in final talks with the government and commerce ministry for safeguard duty on seamless pipes.

Extension of safeguard duty on steel to help industry: ISA

The Directorate General of Safeguards (DGS) yesterday recommended continuing of restrictive duties on some steel products till March 31, 2018.

Will watch domestic prices; consumers to be protected:Steel Secy

says that certain categories of steel that are not produced in India, and also high grade steel products used by the auto industry have been kept outside the purview of minimum import price, Steel Secretary Aruna Sundararajan tells CNBC-TV18

Floor price better than extra duty on some pdts: JSW Steel

The government should take some urgent steps to prevent the steel sector from collapsing, says Seshagiri Rao, Joint Managing Director & Group CFO, JSW Steel. He says domestic steel producers are hurting from Korean and Japanese firms cutting their product prices.

Govt considering safeguard duty on certain steel imports

SAIL, Essar Steel, JSW Steel and Jindal Steel and Power have moved the Directorate General of Safeguard for imposition of the levy on imports of 'hot-rolled flat sheets and plates of alloy or non-alloy steel' to "protect the domestic producers" from increased imports.

May extend safeguard duty to more steel products:Steel Secy

Sundararajan says state-owned steel firm SAIL's losses will start reducing once the company's expansion plans are completed and it is able to achieve economy of scale.