India sets new steel quality standards; auto-grade exempt for 6 mths
[NEW DELHI] India imposed quality standards on steel products sold in the country on Thursday, but delayed bringing auto-grade steel imported by car makers under the ambit of the new order by six months.
Indian car makers import about 1 million tonnes of high-tensile steel annually, mainly from Japan and South Korea, and had sought an extension to avoid disruption in production.
Quality standards for all steel products, except auto-grade steel, will come into effect on March 18.
India is likely to delay the implementation of quality standards on auto-grade steel imports, Reuters reported on Wednesday.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil holds near 3-week low as US sanctions interrupt easing tensions
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
BP reshapes its leadership team as some executives leave
BHP to decide on future of nickel business by August, trims met coal estimates
Even without war in the Gulf, pricier petrol is here to stay
Gold gains as Middle East tensions lift safe-haven appeal