India’s Directorate of Foreign Trade under the Ministry of Commerce has revised the number of steel product categories under the minimum import price (MIP) regime to 66 from 73 on Thursday, July 4, two days after the government announced antidumping (AD) duties and safeguard duties on steel products, a government official said on Friday, August 5.
The government official said that those products on which AD and safeguard duties were imposed were pulled out of the MIP list. The removed products include flat rolled non-alloy products and zinc or lead coated steel among others.
However, the MIP has been extended for two months commencing August 5, while most domestic steel producers such as Steel Authority of India Limited (SAIL), Tata Steel and JSW Steel had petitioned the Ministry of Commerce for a six-month extension of the import protection regime, the official said.
The floor price of the MIP for the 66 steel products, however, has been kept unchanged ranging between $341 and $742 per metric ton.