The current run in the aluminium space has been good and domestic demand augurs well for the domestic metal industry in FY19. However, flood of value added products imports from China and scrap from US is posing a stiff challenge for domestic metal companies. Satish Pai, managing director, Hindalco Industries tells FE’s Shubhra Tandon that dumping of metals into India due to global trade wars is a matter of concern. Excerpts:
You had highlighted possible dumping of metals into India as a concern at the beginning of the year. What is the industry demand?
Demand is that the flood of imports has to be curtailed because while the Indian market is witnessing a 12-13% growth in aluminium demand, this has not resulted in domestic players selling more. It has resulted in imports going up. On one side value added products are coming from ASEAN countries and China, so there we think the duty should be raised as well as quantitative restrictions should be put. On the scrap side, it is the (imports) coming from the US because that cannot go to China. Read more
Latest posts by Financial Express (see all)
- NCLAT gives conditional nod to ArcelorMittal plan for Essar Steel - March 19, 2019
- Major cities to get metro networks! 5 upcoming big metro projects; stations, corridor details here - March 18, 2019
- Final OK for ArcelorMittal’s Essar Steel takeover: NCLAT says, go ahead with Rs 42,000 cr payment - March 18, 2019