It is reported that India’s government may impose import duty to cut cheap steel imports on different grades of steel to up to 15%.

India loses its market share due to cheaper steel imports coming in from China, Japan and Korea. The finance ministry has begun a new review of steel imports and may start a duty revision in July.

The revision will be related to flat and long steel products. The import duty will be maximum for flat steel products, which is for industrial use. The duty will be lower for construction steel.

The government may impose anti-dumping duty and other safeguards against cheap steel coming into the country from China, South Korea and the CIS countries.