The Cold Rolled Steel Manufacturers’ Association of India CORSMA has opposed any move to restrict imports of steel into the country by way of higher import duty. It has sought zero duty on imports of semis and intermediaries and curbs on their exports. In its representation to the government, the association has justified lower import duty suggesting steel prices in the country continued to remain high and increase in imports currently was largely due to the growth registered by steel intensive industries like automobiles, consumer durables, construction and engineering goods.

CORSMA’s representation comes soon after a similar representation by domestic integrated steel manufacturers to the steel ministry, asking it to increase import duty on steel from present 5% to 15%. Domestic players had cited a surge in imports by over 100% during the April-November period of current fiscal to justify its increase. CORSMA, however, maintained that this was not because cheap steel from CIS countries was being dumped here, but due to the domestic industry being unable to meet market demand. Even on pricing, CORSMA said, shortages have resulted in domestic steel price ruling at a high level of Rs 21,000 per tonne for HR coils against global freight on board prices of about 15,000 per tonne. So, the impression that domestic steel makers are suffering due to cheap imports is false, it said.