India To Impose 20 Percent Tax on Chinese Hot-Rolled Flat Steel Imports

Bloomberg reported that India has imposed a 20 percent tax on Chinese hot-rolled flat steel in an effort to support local producers.

As quoted in the market report:

The duty on hot-rolled flat products of stainless steel will last for 200 days, the customs department said in a Jan. 4 notification posted today on its website. The taxes will also apply to steel products having a minimum nickel content of 6 percent and those containing chromium, with or without the presence of other elements such as molybdenum and titanium, the notice said.

To view the whole Bloomberg report, click here.