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Steel cos see limited impact of China's export benefit withdrawal-金属板材展-线材展-金属加工展-2015第十六届广州国际金属板材、棒材、线材及金属加工、配套设备展—全球三大金属展之一巨浪展览-THE 16th GUANGZHOU INTERNATIONALPLATEMETAL, BAR, WIRE, METAL PROCESSIN
1/12/2015 金属板材展-线材展-金属加工展-plate metal expo-wire expo |
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Despite China’s withdrawal of export benefits, there won’t be a
substantial reduction in imports of steel alloys from there,
as a major chunk of the imported commodity continues to remain under the rebate
umbrella, say industry officials.
However, some impact is likely and the
possibility of a 10 per cent fall in imports from China is not ruled
out.
Effective January 1, China ended an export-tax rebate on select steel
alloys such as sheets, wires and rods that contain boron. Previously,
Chinese boron–added steel enjoyed a rebate of 9-13 per cent on the tax incurred,
which helped manufacturers export such steel to India.
“There could be
just a 10-12 per cent fall in imports from China as a major chunk of steel
imports such as (boron contained) cold rolled coils and zinc galvanised sheets
are still under the tax rebate umbrella,” said Jayant Acharya, director
(commercial and marketing) of JSW Steel.
Export of Chinese steel to India
will be impacted only till some time, as Chinese producers will evolve an
alternative mechanism, said C S Verma, president of Indian Steel
Association.
“It is unlikely that Chinese will allow export volumes to be
affected significantly, given that domestic consumption is going down,” said
Verma, also chairman of state-owned Steel Authority of India.
Alloys
containing other elements are also not included under the rebate cancellation.
“We are not sure that this (removal of tax rebate) will reduce imports of
Chinese steel into India as other options such as using chromium, still eligible
for the rebate, are open. Also, import of nonboron steel into India will
continue as it is,” said Shivram Krishnan, chief commercial officer, Essar
Steel.
India’s steel imports from China have risen significantly from
July, following a slowdown in the latter’s economy. Rising imports are becoming
a cause of concern for the domestic industry, which is finding it difficult to
sell in the sluggish demand scenario, amid rising input costs.
Usage of
other elements instead of boron will increase cost of the steel alloy. But given
the tax rebate the Chinese producers enjoy, they are likely to absorb even this
hike in input cost, just in case they are unable to pass it on to the customer,
said industry officials.
More, even upon usage of elements other than
boron, the final cost of imported Chinese steel will still remain lower than
domestically available products.
Most industry officials felt the
government must take corrective measures urgently on such import.
“It is
time for us (India) to guard our shore. The needed tariff barriers, anti-dumping
etc need to be brought in place as early as possible to help the domestic
industry,” said Acharya of JSW Steel.
金属板材展-线材展-金属加工展-2015第十六届广州国际金属板材、棒材、线材及金属加工、配套设备展—全球三大金属展之一巨浪展览-THE
16th GUANGZHOU INTERNATIONALPLATEMETAL,
BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIBITION
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