Steelmakers may rethink capex plans

Export duty has been levied on steel intermediaries and key steel products. Export duty of 15% (from Nil earlier) has been levied on almost all the major steel products (including Stainless Steel). Key items on which export duty of 15% is levied includes pig iron, flat-rolled products of iron or non-alloyed steel, bars and rods and various flat-rolled products of stainless steel, etc. In the case of iron ore and concentrates, the duty has been raised to 50% on all categories, up from 30% (furthermore the 30% export duty was earlier applicable only for lumps that were above 58% iron content). In the case of iron ore pellets, which currently does not attract export duty, a 45% duty has been imposed. To reduce the cost of domestic production of steel products, import duty on coking coal and anthracite has been reduced from 2.5% to zero while the same on coke and semi-coke has been brought down from 5% to zero. The import duty on ferronickel has been lowered from 2.5% to zero

The government has reduced import on PVC from 10% to 7.5%

The Indian government is removing the import duty on anthractite, PCI coal and coking coal