Steel Ministry calls for probe into cheaper China, Vietnam imports

New Delhi, July 31
The Union Ministry of Steel has asked the trade ministry to investigate cheaper steel imports from China and Vietnam, a government official directly aware of the matter said on Wednesday, as New Delhi grapples with rising imports.
India, the world’s second-biggest crude steel producer, turned net steel importer in the fiscal year through March and the trend continued with finished steel imports scaling a five-year high in April and May, according to provisional government data.
“We have said that the trade ministry should investigate these imports and offer its recommendations to the finance ministry, which will take the final call,” the source told Reuters, declining to be identified as the discussions are not public.
India’s steel and trade ministries did not immediately respond to emails from Reuters seeking comments.
Last week, India’s JSW Steel told Reuters that the steel industry was in talks with the union government for trade measures to combat rising imports, particularly from China and Vietnam.
The source added that the steel ministry had urged officials from the European Union not to impose higher taxes on its carbon-producing industries in a meeting two weeks ago.
Separately, the steel ministry is in talks with mills to diversify imports of coking coal, a key steelmaking raw material, from countries including Russia, Canada and the United States, the source said, as the country tries to cut its reliance on Australia, its biggest supplier. — Reuters

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