Indian steelmakers are calling on the government to ban steel imports from Iran
16:03 March 20, 2019 source: nishimoto Shinkansen
The Indian Steel Association, which represents India’s biggest Steel companies, has called on The Indian government to ban Steel imports from Iran immediately after a nearly five-fold increase in Steel imports from Iran.
The Indian Steel Association, which represents India’s biggest steelmakers, has strongly called on The Indian government to immediately ban Steel imports from Iran after a nearly five-fold increase in Steel imports from The country.
The Indian steel association said last week that steel exports from Iran to India had increased after the us imposed sanctions on Tehran.
Iran has steadily increased steel production over the past eight years, but its domestic demand for steel, the world’s 10th largest producer, has shrunk.Although Iran’s per capita consumption of crude steel fell 14 per cent, its total excess capacity has climbed 36 per cent to 12.2m tonnes.About 30 percent of Iran’s steel exports go to the asean region, raising the possibility that Iranian steel could flow to India through a third country.
India’s direct steel imports from Iran increased 66 percent in the 2017-2018 fiscal year;But as of December 2018, imports for fiscal year 2018-2019 were zero.A large quantity of iranian-made steel has reportedly made its way into the Indian market via the united Arab emirates after changing its country of origin label.& other;Worryingly, the united Arab emirates, a net steel importer, has seen its direct steel exports to India surge by 390 per cent, including 65,000 tonnes of steel panels, while the uae itself is a traditional net importer.This indicates that some Iranian steel products have been transferred to India via the united Arab emirates.Indian steel association said.
In a letter to Binoy Kumar, India’s steel minister, the Indian iron and steel association said Indian steel companies were “haunted” by the large number of low-priced Iranian steel products being shipped to India through the united Arab emirates.
Bhaskar Chatterjee, secretary general of the iron and steel association of India, said in the letter that both steel imports directly from Iran and Iranian steel products transshipped from the united Arab emirates should be banned because such trade is a serious violation of us sanctions against Iran and could lead to retaliatory measures against India.