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India to implement BIS certificates on certain steel products
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Under the Indian government’s order, the local and foreign steel manufacturers will have to mandatorily comply with the specific norms prescribed by Bureau of Indian Standards (BIS) from September 12nd.
The BIS certificates will be applied to certain steel products including cold rolled non-grain oriented silicon steel, grain oriented silicon steel, hot rolled structural steel, etc.
Indian steelmakers said that they will consume more ferroalloy and electricity during the steelmaking process in order to receive the BIS certificate, causing them face higher input costs.
Consequently, some of medium-size steel mills may receive worse profits if they can’t raise the steel price to offset the higher input cost.
Meanwhile, it’s been seen that the steel imports may reduce from September as most of foreign steelmakers can’t receive the BIS certificate immediately.
News Date
8/10/2012 10:00:59 AM
reported by
Echo Huo
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