OECD panel flags excess steel supplies; China exports surge

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In August, the Directorate General of Trade Remedies (DGTR) under the Commerce Ministry, India, recommended a final imposition of safeguard duty on certain flat steel imports, with the trade body suggesting a staggered rate of 12%, 11.5% and 11% for the next three years.However, the steel industry has raised concerns about the quantum of safeguard duty being inadequate to check imports. The steel players have sought a safeguard duty of 25% to restrict imports from China effectively.