India's SAIL keenly watching Chinese steel imports post US tariff hikes, says chairman

Reuters
·1-min read
A motorcyclist rides past an advertisement of SAIL at a street in New Delhi

NEW DELHI (Reuters) - Steel Authority of India is keenly watching Chinese imports after the United States raised tariffs on shipments from Beijing, its chairman Amarendu Prakash said on Friday.

U.S. President Joe Biden earlier this week unveiled steep tariff increases on an array of Chinese imports, including steel, leading Indian mills to fear that shipments from the top alloy producer will surge as other economies turn away.

The Indian steel industry is already battling a glut of cheaper Chinese steel, with shipments nearly doubling year-on-year in the financial year ended March 2024.

The state-run SAIL has continued to buy steelmaking coking coal from Russia at 75,000 tons per ship, Prakash added.

(Reporting by Neha Arora in New Delhi; Editing by Sohini Goswami)

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