TheIndian government has extendedimportcurbson low-ashmetallurgicalcoke, a steelmaking raw material, forsixmonthsstarting July, a government order said on Monday, dealing a blow to steelmakers who oppose restrictions on overseas purchases.
India, the world’s second-largest crude steel producer, will set country-specificimportquotas and cap purchases at 1.4 millionmetric tons from July 1 to December 31, the order said.
Reuters in February reported thatIndiacould extendcurbson low-ashmetcokeimports to encourage local steel mills to use domestic suppliers. It also reported in May thatIndia‘s steel ministry favoured extending the restrictions.
Thecurbshave worried major steel producers, including ArcelorMittal NipponIndiaand JSW Steel, who argue they hinder the companies’ expansion plans because it is difficult to source preferred grades locally.
India‘s Commerce Minister Piyush Goyal in April urged steelmakers to sourcemetcokelocally.
Indiahas also started an anti-dumping probe into overseas supplies of low-ashmetcokefrom Australia, China, Colombia, Indonesia, Japan, and Russia, following a request from an industry body.
Imports of low-ashmetcokehave more than doubled in the past four years and major suppliers of the raw material include China, Japan, Indonesia, Poland and Switzerland.
(Reuters)
