MIP Scheme for Steel Industry

Minimum Import Price (MIP) is a temporary measure to provide protection to domestic steel industry from predatory pricing of steel imports.  Prices of steel goods after notification of MIP on 5^th February, 2016 has shown favourable trend to domestic steel industry as mentioned below.

                                                                                                                                                                                                                                                                                                                                 (Rs./Tonne)

 (Source: Joint Plant Committee)

Some objections were received from some user industries and government has considered the same while imposing MIP.

Government has imposed preliminary anti-dumping duty on a number of steel products from other countries for a period of six months as per the following notifications:

1. a) Notification No.44/2016-Customs (ADD) dated 8^th August, 2016 imposing anti-dumping duty on Hot-rolled flat products of alloy or non-alloy steel falling under headings 7208, 7211, 7225 or 7226 originating in, or exported from People’s Republic of China, Japan, Korea RP, Russia, Brazil and Indonesia.

1. b) Notification No.45/2016-Customs (ADD) dated 17^th August, 2016 imposing anti-dumping duty on Cold-Rolled flat products of alloy or non-alloy steel falling under headings 7209, 7211, 7225 and 7226 originating in, or exported from People’s Republic of China, Japan, Korea RP and Ukraine.

1. c) Notification No.51/2016-Customs (ADD) dated 2^nd November, 2016 imposing anti-dumping duty on Wire Rod of Alloy or Non-Alloy Steel falling under headings 7213 and 7227 originating in, or exported from China.