India’s Aluminium Firms Sulk Over Preferential Treatment To Steel

Image Source: ET

India’s aluminium industry has voiced its discontent over the preferential treatment meted out to steel makers. Mr Rahul Sharma vice-president, Aluminium Association of India said that “Over the years, government interventions have helped steel imports tumble by 21%. In addition to duty safeguards, the government has imposed MIP and anti-dumping duty. Today, the steel industry is in fairly good health – it is able to run business and pay debts. But on the other side, for the aluminium industry, there was zero intervention from the government. Steel is a core sector but aluminium is a strategic metal which plays a vital role for the country – Make in India, for security, electrification and other applications.”

Mr Sharma flagged concerns on unabated rise in scrap imports, especially with economic titans US and China waging a trade war. He added that “As a fallout of the trade war beginning with US imposing 10% duty and China retaliating with 25% duty (on scrap imports from US), India has turned into a favourite dumping ground for aluminium scrap. According to a report, India has dislodged China as the largest importer of aluminum scrap during the January-March period.”

Source : Strategic Research Institute, SteelGuru