FIs FOR DUMPING DUTY ON HR GOODS
Article Abstract:
Financial Institutions (FIs) have decided to request the government to impose a 15-20 percent anti-dumping duty on hot rolled (HR) products. Studies have shown that the domestic manufacturers of HR products have been severely affected by the dumping of low grade HR products at cheap prices by CIS and other countries. The cash flows of domestic companies have been affected as they are unable to sell their products and the loans taken from FIs are in danger of turning into non-performing assets. HR products are being dumped in the domestic market at $190-220 per tonne, which is about $20-50 per tonne less than average international prices. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DEMAND TO HIKE SCRAP DUTY POLARISES MAJOR PLAYERS
Article Abstract:
Sponge iron producers like Ispat Industries and Essar are expected oppose the Sponge Iron Manufacturers Association's (SIMA) demand for a rise in scrap duty. The sponge iron industry has been asking for a hike in the scrap duty from the current level of 5 percent. Ispat and Lloyds, who are the members of SIMA, are opposing the hike as they consume sponge iron as input for hot rolled coils. SIMA has asked the government to allocate more quantity of natural gas to gas-based sponge iron producers at global prices, in order to pacify Ispat and Essar, its members. (ag)
Comment:
India: Local sponge iron producers expected to oppose Sponge Iron Manufacturers Association's demand for rise in scrap duty
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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5 PER CENT DUTY ON SPECIFIED IRON IMPORTS GOES
Article Abstract:
The producers of pig iron and sponge iron have been exempted from the five percent special customs duty applicable on imports of specified inputs. The decision of the Indian Finance Ministry follows the suggestions made by the Steel Ministry. The iron producers have also been exempted from paying the five percent special customs duty on import of unwrought nickle and eight other inputs for steel. The exemption will provide cheap inputs to iron producers. It will also give impetus to the iron and steel industry as the iron is an intermediate product. (ag-psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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