Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
According to Rajamani Krishnamurti, President of the Indian Stainless Steel Development Association (ISSDA), almost 30-35% of Gujarat's medium- and small-sized enterprises closed their doors between July and September of last year due to the heavy influx of cheaper Chinese imports, which is directly affecting Indian stainless steel players. In the MSMEs sector, Gujarat accounts for 80% of the total. Due to pressure on domestic stainless steel companies' profit margins from cheaper Chinese imports, the sector filed a petition last year asking the government to impose countervailing tax (CVD) on Chinese stainless steel products.
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