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Indian steel producers have sought additional government action to rein in a surge of low-priced imports that is squeezing domestic prices and capacity utilisation, especially in stainless steel. They flagged global oversupply led by China and warned of margin pressure at home.
Industry data indicate India has been a net steel importer for six consecutive months, with finished steel inflows rising to 0.79 MT in September from 0.69 MT in August. Imports from Korea, Russia and Indonesia have increased, while domestic prices fell to a five-year low in October, hurting mill realisations.
The Centre has tightened standards through 100+ Quality Control Orders and recently restricted select input imports. Earlier this year, trade authorities recommended a 12% provisional safeguard duty for 200 days on certain products, and stainless players have separately asked for a deeper probe.
A high-level review with policymakers is expected shortly to examine further steps, balancing the needs of user industries with the goal of safeguarding domestic capacity additions. Producers are pushing for extended QCO validity, broader trade remedies and faster enforcement to stabilise pricing, support planned investments and align with the country’s self-reliance agenda.
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