Stop steel exports at lower than domestic price: Consumers associations

Steel consumers associations have strongly opposed the call from primary manufacturers to impose a 25 per cent safeguard duty saying the move will only increase prices, impact the economy badly.

Published: 14th July 2019 06:18 PM  |   Last Updated: 14th July 2019 06:18 PM   |  A+A-


For representation purposes (File Photo | Reuters)


KOLKATA: Steel consumers, who are feeling the pinch of high price of the metal in the Indian market, have demanded a policy intervention from the Centre to prevent steel producers from exporting steel below the domestic prices.

Several industry bodies have written to Prime Minister Narendra Modi seeking his intervention.

"The domestic steel should be supplied to the downstream industry at a price which is at par with international price," said the Federation of Industry and Commerce of North Eastern Region (FINER), an apex industry association of the region in a statement.

The Federation of Industries of India also demanded "steel should be supplied to the downstream industry at a price that must at least be equal to the price, at which the domestic steel mills export the metal."

Steel consumers associations have also strongly opposed the call from primary manufacturers to impose a 25 per cent safeguard duty saying, the move will only increase prices and impact the economy badly.

Indian Steel Association had sought a 25 per cent safeguard duty on imports to curtail dumping after the US and the EU (European Union) set up tariff and quota barriers.

The FINER also highlighted that any imposition of an additional duty in any form on steel goods will have a "retrograde effect" on the downstream industries and millions of labourers will become jobless, defeating the objective of the government to create jobs.

"Domestic price is higher by about Rs 5000 per tonne compared to export price of steel makers. And we import products of certain specifications which is not supplied by the domestic steelmakers," welded steel tubes and pipes maker Nezone Group Chairman M L Beswal said. "We want a level playing field. At least government can announce domestic steel price as the floor price for any exports will allow some respite to our industry."

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

  • Nehan Shah

    Excellent report... Very good suggestion by the interviewee..
    10 months ago reply
flipboard facebook twitter whatsapp