Steel cos cut exports to bypass duty
JSW Steel Not To Export This Fiscal; Essar & Ispat Look To Reduce HRC Shipments By 60% STEELMAKERS have decided to cut down exports significantly in the wake of the 15% export duty imposed on hot rolled coils (HRCs). While JSW Steel has decided not to export at all this fiscal, some others like Essar and Ispat are looking to reduce HRC exports by almost 50-60% this year. The increased availability of HRCs is expected to check steep price increase of steel in the domestic market which has been putting pressure on inflation in the recent past.