Industry & Economy
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Coke & Metalurgical Coke
Govt withdraws dumping duty on metcoke
Our Bureau
New Delhi
,
June 15
THE Government has withdrawn the anti-dumping duty on metcoke imported by Indian companies from Japan. In November last year, the Government had imposed an anti-dumping duty on metcoke imports from Japan.
Metcoke carried a duty equivalent to the difference between the landed price per tonne of the fuel and $118.44 fixed by the Government.
India annually imports around 4-5 lakh tonnes of metcoke. It is mainly used by the pig iron makers and serves mainly as the raw material for the foundry industry.
The major steel manufacturers use coking coal. Large pig iron manufacturers who are big consumers of metcoke include companies like Tata Metalliks, Satbahana Ispat, Kalinga Iron, Neco Steel and Nilachal Ispat.
A number of electric arc furnace units and induction furnace units also use metcoke.
Meanwhile, pig iron prices too have fallen substantially during the past few weeks.
Market sources said that in the spot market, pig iron rates have come down from around Rs 25,000 to around Rs 19,000.
On the other hand, industry sources said, there is some increase in export enquiries for iron ore over the last one week.
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