According to reports from a variety of India sources, the Indian Union Budget for this year and next year have opted to eliminate the duty on steel and aluminum scrap. The duty was 5 percent.
In opting to eliminate the customs duty, the government expects to help steel producers, notably EAFs, lower their costs to production.
Going further, if the savings by EAFs are passed along, consumers of the steel would be able to lower prices for their finished product. Economic Times (India)
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