Government imposes anti-dumping duties on select steel products

MIP on steel products that has cushioned the domestic industry for almost a year will end on Feb 4

The government imposed anti-dumping duties (ADDs) from Wednesday on import of certain varieties of steel products from China and the European Union.

The minimum import price (MIP) on steel products that has cushioned the domestic industry for almost a year will end on February 4 unless extended. It has helped the Indian industry to gain some ground against cheaper import mainly from China, South Korea and Japan.

Sanak Mishra, secretary-general, Indian Steel Association, said MIP was temporary relief in a market inundated with cheap Chinese import. After its imposition in February, prices of indigenously made products went up but are