It is reported that Indian government has decided to announce a Minimum Import Price (MIP) for steel, in order to stop cheap imported steel from other countries
The countries included China, Ukraine and Korea have been dumping cheap steel into India. The China sianless steel prices are between 30% and 40% lower than Indian steel market price and got the same of better qualities.
Meanwhile, the price of the imported finished product is also lower than the raw material price.
Indian new MIP policy will have a positive effect on the Indian steel industry but will affects other countries and it will also to boost national economy.