The association made this statement following the United States imposing high tariffs on Chinese steel products, according to news reports on Friday. Earlier this month, the U.S. government decided to impose a 25 percent tariff on Chinese steel and aluminum products.
"The increased trade remedial tariffs on Chinese steel by the US is further going to impact the Indian steel industry adversely with diversion directed to India," Alok Sahay, the secretary-general of ISA, was quoted as saying.
ISA includes major Indian steel companies like JSW Steel and Tata Steel. The association is concerned that weak domestic demand in China will result in surplus steel products flooding into India, where economic growth is strong and infrastructure construction projects are active.
"The surge in imports at predatory prices, due to diversion and due to major reduction in steel consumption in China, is a double whammy for us," Sahay said.
reporter
Kim Joo-heon
jhkim123@ajunews.com
