Arcelor-Nippon says India's plan for raw material curbs ignores Red Sea crisis
India joint venture has privately warned trade officials in New Delhi that a plan to curb imports of a key raw material for steelmaking overlooks the implications of the Red Sea crisis, a letter showed.
The curbs planned by the world's second-biggest producer of crude steel could hit output, as they cap imports of a steelmaking fuel, low ash metallurgical coke, also known as met coke, at 2.85 million metric tons for a year.
The April proposal, which came after growing shipments caused «serious injury» to domestic producers, also recommended setting quotas on met coke for exporting nations.
«India should not close its eyes to the geopolitical situation and implement a measure that may adversely affect its steel industry,» the company told the directorate general of trade remedies (DGTR) in the June 3 letter, seen by Reuters.
Quotas envisioned for European countries under the plan «will very seriously affect» imports from the region, it added.
The company, India's commerce ministry and the trade remedies body did not respond to requests for comment.
No date has yet been set for the proposal, now being reviewed by the commerce ministry, to take effect.
India's plan to allot about 40% import quota to European nations will affect ArcelorMittal Nippon Steel India (AM/NS India) as the Red Sea crisis has already forced rerouting of vessels, and boosted ocean shipping rates, the company said.
The company does not use domestic met coke. India's imports of the fuel have more than doubled over the past four years, and
