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The government has reportedly proposed to slash import duties on steel items to zero or near-zero levels.
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in a bid to help the user industry hit hard by rising price of the metal in the domestic market.
The lower import duties would help maintain supply lines affected by several domestic steel companies reducing steel production to divert medical grade oxygen for Covid-19 relief measures.&nbsp;

Steel import duties may be cut to zero as prices jump 50%

Steel prices are now at multiyear high with no easing in sight, Govt is now looking at waving import duty to ease price pressures on user industries.&nbsp;

The government is set to propose slashing import duties on steel items to near zero levels as per reports.&nbsp;
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in an effort to help the user industry which has been hit hard by rising price of the metal in the domestic market. Domestic hot-rolled coil (HRC) prices rallied to a multi-year high of Rs 56,000 per tonne marking a&nbsp;a jump of over 50 per cent in last 13 months.
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The government has prohibited the supply of oxygen for industrial purposes by manufacturers and suppliers forthwith April 22, The centre decided to release 6,177 metric tonnes of oxygen with a priority to Mahrashtra&nbsp;and Delhi.&nbsp;
Mahrashtra&nbsp;will get&nbsp; the lions share fro the pie with 1500 metric tonnes to overcome the current shortfall.&nbsp;
Industry tiitans led by Mukesh&nbsp;Ambani have already started to pitch in. Sajjan&nbsp;Jindal&nbsp;of JSW Steel said, "We are supplying oxygen for medical purposes as our priority in response to current crises. Currently, the supplies are ramped up to over 185 tonnes and making every effort to increase further from all our steel plants across the country."

Breath of air for Mahrashtra as Govt prohibits oxygen use for industry, allocates more to state

As oxygen shortage becomes acute across the nation, the centre bans oxygen use for industry and allocates more of it to Mahrashtra, Delhi.&nbsp;

Breath of air for Mahrashtra as Govt prohibits oxygen use for industry

The government has prohibited the supply of oxygen for industrial purposes by manufacturers and suppliers forthwith April 22, The centre decided to release 6,177 metric tonnes of oxygen with a priority to Mahrashtra&nbsp;and Delhi.&nbsp;
Mahrashtra&nbsp;will get&nbsp; the lions share fro the pie with 1500 metric tonnes to overcome the current shortfall.&nbsp;
Industry tiitans led by Mukesh&nbsp;Ambani have already started to pitch in. Sajjan&nbsp;Jindal&nbsp;of JSW Steel said, "We are supplying oxygen for medical purposes as our priority in response to current crises. Currently, the supplies are ramped up to over 185 tonnes and making every effort to increase further from all our steel plants across the country."

Sensex, Nifty open lower as RIL, metal stocks fall

Reliance and metal stocks dragged Indian equity benchmarks&nbsp;down in the opening session on Monday.
At 9:25 am, the Sensex&nbsp;was 100 points in the red at 40,585 and the Nifty fell 0.19% to trade at 11,907.
JSW Steel, Reliance, Tata&nbsp;Steel, Hero Moto&nbsp;Corp and Hindalco were the top five Nifty losers.
Most Asian markets were trading lower.

40,585.28 -100.22 -0.25%
11,907.15&nbsp; -23.20 (-0.19%

Reliance and metal stocks dragged Indian equity benchmarks&nbsp;down in the opening session on Monday.
At 9:25 am, the Sensex&nbsp;was 100 points in the red at 40,585 and the Nifty fell 0.19% to trade at 11,907.
JSW Steel, Reliance, Tata&nbsp;Steel, Hero Moto&nbsp;Corp and Hindalco were the top five Nifty losers.
Most Asian markets were trading lower as well.

jsw steel

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