SAIL watching Chinese steel imports post US tariff hikes: Chairman

Steel Authority of India is keenly watching Chinese imports after the United States raised tariffs on shipments from Beijing, its chairman Amarendu Prakash said on Friday.

US President Joe Biden earlier this week unveiled steep tariff increases on an array of Chinese imports, including steel, leading Indian mills to fear that shipments from the top alloy producer will surge as other economies turn away.

The Indian steel industry is already battling a glut of cheaper Chinese steel, with shipments nearly doubling year-on-year in the financial year ended March 2024.

The state-run SAIL has continued to buy steelmaking coking coal from Russia at 75,000 tons per ship, Prakash added.