India scrapped the export duties on steel it had imposed six months earlier, announcing on 18 November 2022 that the 15 percent duty on finished steel would fall to zero from 19 November. Duties on pellets were cut from 45 percent to zero, and iron ore duties were removed for ore below 58 percent iron content and cut to 30 percent for higher grades. Import duties on coking coal, PCI coal and ferronickel, which had been waived in May, were reinstated at 2.5 percent. The reversal followed a collapse in exports: shipments had fallen 66 percent year on year to 360,000 tonnes in October, and India had become a net steel importer that month. Mills had warned that the duties were costing them long-built export markets. The government said domestic prices had stabilised enough to allow exports to resume.
Source: SteelOrbis — https://www.steelorbis.com/steel-news/latest-news/india-scraps-export-taxes-on-steel-and-some-raw-materials-adds-import-tariffs-on-coal-and-coke-1268361.htm
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