Steel industry welcomes duty cut on steel exports – economictimes -nov19 2022

The government’s decision to remove export duty on steel items will boost demand for steel, industry members said on Saturday. The government has cut the export duty on steel products and iron ore with effect from November 19, 2022 — six months after imposition of the levy on May 21.

As per a finance ministry notification issued late night on Friday, exports of specified pig iron and steel products as well as iron ore pellets will attract ‘nil’ export duty.

“It will be a big sentimental booster to revive domestic steel demand, particularly when the global steel demand is on a steep decline,” Seshagiri Rao, Joint MD, JSW Steel & Group CFO