January 20, 2018 / 4:30 PM / 7 months ago

India opens new ports for used steel imports

NEW DELHI (Reuters) - India has increased the number of ports that can handle imports of non-prime steel to a total of six, with the addition of three new ports, the ministry of commerce and industry said.

A man walks past steel rims and parked cars at a dock yard at Mumbai Port Trust in Mumbai November 17, 2014. REUTERS/Shailesh Andrade/Files

A ministry notification dated Jan 18. and made public on Saturday implies all types of steel can be imported through the new ports. The is set to encourage foreign purchases of non-prime category steel. [bit.ly/2DRagUO]

The news comes after India imposed anti-dumping duty on several stainless steel and flat steel products from China, the United States, South Korea and the European Union, to curb the influx of cheaper imports and help local producers.

Reporting by Aditi Shah

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