India's steelmakers have urged the government to immediately impose a temporary tax to stem cheap imports from China, Japan and South Korea, according to the latest industry presentation, in a fresh move to pressure New Delhi to curb cheap overseas supplies.
"Surging steel imports is a major concern especially from surplus and major exporting countries including China, Japan and Korea," the Indian Steel Association (ISA), a producers' body, said in its presentation to the Directorate General of Trade Remedies (DGTR), an arm of the federal trade ministry. The steel industry's presentation to DGTR has not been previously reported.
The Indian Steel Association, which counts JSW Steel, Tata Steel and staterun Steel Authority of India among its members, said in its presentation that mills were going through a difficult phase due to "severe stress" caused by unbridled imports.
"Surging imports at predatory prices" is a major concern for the survival of the Indian steel industry, the Indian Steel Association said in the presentation reviewed.
