Iran Steel imports: Indian industry flags concerns over predatory pricing

Price difference is about Rs 5,000 a tonne when compared to China; apart from IBA, the Indian Steel Association has also moved steel ministry and and customs

The Indian Steel Association (ISA) has raised concerns regarding import of steel from Iran with the Indian Banks Association (IBA).

Surging steel imports from Iran routed via UAE were at predatory prices and a cause of concern for the industry, the association pointed out in a recent letter to the IBA. 

The price difference was around Rs 5,000 a tonne when compared to China, said sources. Apart from the IBA, the association has also raised it with the steel ministry and custom authorities.

The letter also said that Indian steel imports from Iran were in contravention of US Sanctions having serious implications under