India resists new curbs on cheap steel imports
India's steel ministry will not seek new measures to restrict cheap imports. Domestic steelmakers requested higher tariffs amid rising inflows. Officials cited already high local prices.
India's steel ministry will likely avoid new import curbs despite domestic producers pressing for higher safeguard duties. The decision comes as finished steel imports rose 29.5% to 3.5 million metric tons during the April-August period. Higher overseas shipments threaten margins for local mills facing rising raw material costs.
