Duty exemption unlikely to impact coking coal prices
28/03/2011 37New Delhi, Mar 27 (PTI) The exemption to certain types of coking coal from customs duty is not likely to impact steel prices at present, feel experts.
Industry experts welcomed the government's decision to exempt certain types of coking coal from customs duty to rein in price rise, but said the move is not going to impact steel prices at present as there are supply constraints.
"Supply from Australia, which accounts for 90 per cent of the exports is affected due to floods in certain parts. Once the supply side is smooth, then the duty cut is going to reduce the steel prices, as it is a key raw material in steel making," MMTC Chairman H S Mann said.
Moreover, experts believe the government's decision is aimed at curbing the inflationary pressures which could have arisen due to the rise in prices of iron and steel.
Source: ptinews.com
- Decree to facilitate science, technology activities
- Multinational e-commerce platforms strengthen their foothold in Việt Nam
- Vietnam Pushes for Digital Customs Transformation to Boost Trade
- Standard Chartered Vietnam and the US promote clean energy investments in Việt Nam
- The trend of green industrial parks in Vietnam