India seeks internationally-benchmarked stainless price
The Indian downstream stainless industry is seeking timely import-delivery at internationally benchmarked price, given that domestic demand for raw material outstrips local supplies.
Stating this on 23 Feb 2021, the All India Stainless Steel Pipes & Tubes Manufacturers Association said that the domestic industries hope for the much-needed revival following the revocation of anti-dumping duty (ADD) and countervailing duty (CVD) on the import of stainless steel raw material.
“The revocation of ADD and CVD has effectively created a level playing field for the domestic stainless steel companies which now can avail barrier free raw material. This in turn will keep a check on artificial price hikes of stainless steel required by the downstream industries for finished products such as tuned & pipes among many other industries,” Association Vice President Ramesh Patel said in a statement.
“The revocation has come as a blessing for India’s thousands of MSMEs engaged in finished stainless steel products, which, because of duties, were suffering on two counts – one, artificially inflated domestic raw material prices by large monopolies and two, cheaper imports of finished products. We thank the finance ministry for its foresightful decision and saving MSMEs,” said Patel.
“It is essential that India becomes self-reliant for stainless steel finished products such as pipes and tubes, among others. To discourage the imports of stainless steel finished products, the domestic industries must flourish. This can happen only if there is enough, unrestricted supply of raw materials,” added Patel.
The association debunked misinformation regarding stainless steel imports in India from countries like Indonesia, deemed India’s competitor in the stainless steel finished product export markets.
All India Stainless Steel Pipes & Tubes Manufacturers Association is a Gandhinagar based Association set up to promote trading, dealing and manufacturing of Stainless Steel Pipes & Tubes, and to protect the interest oof members and organize arrangement interest of Stainless Steel Pipes & Tubes industries in India and the international market, including to secure organize actions on all subject relating to Stainless Steel Pipes & Tubes industries.
Any person, society, firm, or a company engaged in Stainless Steel Pipes & Tubes Merchant’s business is eligible to become a member.
The Association currently has 55 members representing SMEs and MSMEs engaged in Stainless Steel Pipes & Tubes business. #manufacturing #exports #steel #investment #makinindia /fiinews.com
