Monday, February 8, 2016

Imposition of Minimum Import Price (#MIP) on 173 #steel products

Union government has imposed a minimum import price (MIP) on 173 steel products ranging between $341 to $752 per tonne. Steel Ministry  has requested steel producers not to go after arbitrary price hikes after the imposition of minimum import price (MIP). The domestic industry has been hit by cheaper foreign imports. India recently surpassed the United States to become the world's third largest steel producer.