17-05-2024 03:52 PM | Source: Reuters
India`s SAIL keenly watching Chinese steel imports post US tariff hikes, says chairman
Steel Authority of India is keenly watching Chinese imports after the United States raised tariffs on shipments from Beijing, its chairman Amarendu Prakash said on Friday.
U.S. President Joe Biden earlier this week unveiled steep tariff increases on an array of Chinese imports, including steel, leading Indian mills to fear that shipments from the top alloy producer will surge as other economies turn away.
The Indian steel industry is already battling a glut of cheaper Chinese steel, with shipments nearly doubling year-on-year in the financial year ended March 2024.
The state-run SAIL has continued to buy steelmaking coking coal from Russia at 75,000 tons per ship, Prakash added.
Latest News
Research links frailty to dementia risk
PM Narendra Modi hails Pankaj Advani`s `phenomenal a...
When Vidya Balan was ?thrown? out of a very big Tami...
October Sees Record Inflows in Equity Mutual Funds, ...
Bitget Forays into UK Market, Offering A Broad Range...
Karnataka takes the lead in emerging technology, wit...
Motilal Oswal AMC Unveils Results of 2nd Edition of ...
Quote on Debt Outlook by Puneet Pal, Head Fixed Inc...
Leveraging China Plus One Strategy can significantly...
Market Shifts: Palm Oil, Cotton, Corn, and More Face...