Aisha, JSW Steel and other steel manufacturers allegations plate imports surged
Following a width of more than 600mm of hot rolled safeguards imposed 20% tax, a number of mills in India and sought to impose safeguard duty plate.
Steel Authority of India, Essar, JSW and other steel manufacturers alleges that in the past year plate imports surged, leading to falling steel prices, steel losses. They asked for more than the plate width 600mm levy safeguard duty, mainly for IS2062 and E350 level, not including stainless steel, APIX-52 and boiler and pressure vessel steel plate.
India plate production capacity of approximately 10 million tons, the annual output of the last fiscal only about 4.5 million tons, the current capacity utilization is about 37%. Domestic commodity grade plate ex-works 2.6-2.65 million rupees, equivalent to $ 400-408 / ton, while Chinese products of similar quality to India $ 295 / ton (CFR). As of March of this year, 2014 - 15 years, India imported plate 580,000 tons, compared with 320,000 tons in fiscal year 2013-14 increased 81% and imports in the first half of this fiscal year about 35 tons, is expected full-year imports will reach 690,000 tons.
Slow progress and postpone induced slowdown in steel demand in infrastructure projects in India, expects growth of 4% -5%, lower than expected. Meanwhile, in April this year - October steel imports by 48%, in this case, the steel containment imports are growing. This year, the Indian government twice raised import duty steel flat products from 7.5 percent to 12.5 percent, longs from 5.5 percent to 10 percent. After importing the width of 600 mm and above rolled non-alloy steel and other alloy hot rolled coils were safeguards to initiate the investigation, it decided to levy a 20% provisional safeguard duty, now painted sheet steel is also seeking to sign safeguards tax, and requested the Government to launch an urgent investigation.
This year 4--10 months, India's steel imports 3.198 million tons from a year earlier to $ 4.741 million tons, imports mainly from China, Japan, South Korea and Russia. China as its largest supplier, in the first nine months of exports of 3.23 million tons in India, the Indian import restrictions will have an impact on China's exports.