Metals, Mining Sector Update – Hefty Duty On Steel, Iron Ore, Pellets Exports: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

In a highly significant development, the government has imposed hefty export duties on steel and its raw materials to cool down rising prices and to preserve domestic supplies.

These export duties will lead to decline in realisations for steel companies which have been resorting to exports in the last few years.

Also, the government has cut import duty on coking coal and metallurgical coke as well as pulverised coal injection and anthracite coal to offer some relief to domestic end-users grappling with high inflation.

However, existing duties were very low (2.5-5.0%); hence, it will not have any meaningful impact on costs for steel companies.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Leave a Comment