It was reported that the Indian government may remove the 15% export duty on steel in September, but there is no clear information.

The Indian government has imposed a 15% export tariff on major steel items such as hot-rolled steel and rebars from May 22. The reason was to curb domestic steel prices and thereby reduce inflation. The results have proved that export tax hikes are effective in curbing inflation. In the past two and a half months, the domestic sales price of Indian hot-rolled steel fell sharply.

Since a 15% export tax was imposed, Indian steel mills have developed boron steel coils to avoid the tax increase. However, boron-containing steel coils have poor weldability and are not favored by foreign buyers.

Since the phased task of reducing domestic steel prices has been completed, it was reported that the Indian government may cancel the 15% export tax in September, and the clear news needs to be further confirmed.