Anti-Dumping Duty:

The domestic rebar industry of Egypt has been affected by dumping. Egypt has raised the anti-dumping duty to protect the domestic rebar from the unfair inflow from China, Turkey, and Ukraine.

Impact of Export Duty in India:

India has declined the prices of the plate. The flow of steel scrap has increased in the local market due to the export duty levied by the Indian government in May. It has improved the domestic production process aim of the govt.

In India, less demand for final steel products has affected semi-finished goods & steel scrap. Coal prices have not changed. The expected impact of export duty is the prices of steel scrap & the prices of final products will decline more in June.

Other than the coal, all other inputs had a decline in prices considerably silicon manganese and pellets had a remarkable fall in the previous month.

Due to the export duty on many products, Indian mills are considering exporting the granulated Pig iron (GPI) and boron-added steel not included in the export duty.

Conclusion:

As with 15%, export duty inputs/raw material provision has increased in the local market but has refrained the primary and secondary mills to productivity as secondary firms are operating their plants below their capacity. They have not had a remarkable booking for June 2022. Stocks have piled up due to export duty. Indian mills are trying to export the goods not included in the export duty, i.e., alloy added steel.