The association urged Finance Ministry to reimpose 5% import duty on Metallurgical coke to help domestic Met coke producers to sustain. "That's because the decline in applicable duty on imports of metallurgical coke is significantly greater than the decline in applicable duty on imports of coking coal. In other words, while there is only a 2.5% reduction in import duty on coking coal costs, there is a 5% reduction in import duty on metallurgical coke," the Association wrote in its letter. "NIL duty on imported met coke has resulted in a flood of cheap imports of met coke into India, putting further pressure on our capacity utilization and selling price. Due to this, our members are operating at nearly one-third of their total capacities and selling met coke below the cost price.

Source: Daily Nation October 04, 2022 02:25 UTC