India’s Directorate of Foreign Trade under the Ministry of Commerce has announced that the central government of India has extended the applicability of the minimum import price (MIP) regime until December 4, 2016.
In August this year, the Indian government had extended the MIP for two months commencing on August 5 and revised the number of steel product categories under the minimum import price (MIP) regime to 66 from 73. The floor price of the MIP for the 66 steel products, however, was kept unchanged ranging between $341/mt and $742/mt.