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Govt's push to curb steel imports could hit small mills

These mills buy imported steel at up to 20% discount to domestic prices

Reuters  |  Mumbai/London 

Steps by India to protect its large steelmakers from a flood of cheap imports could end up closing scores of small, local firms that process the metal, industry analysts and executives said. These processors currently buy imported steel at up to 20% below India's pricier, domestic steel, turning it into finished steel products for industrial use. But after months of lobbying by its largest steelmakers such as JSW Steel Ltd and Tata Steel Ltd , India last month raised duties on some steel imports by up to 2.5 percentage points, with more increases expected. Steel imports ...

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First Published: Wed, July 08 2015. 13:35 IST