Kalyani Steel Expects To Benefit From Removal Of Anti-Dumping Duty
Hike in iron ore prices and rupee depreciation raised input costs.
Kalyani Steel Ltd. expects to benefit from the removal of anti-dumping duty levied on graphite imports from China.
“The anti-dumping duty (on Chinese graphite electrodes) was ranging from $200-1,000 a tonne,” RK Goyal, managing director of Kalyani Steel, told BloombergQuint in an interaction. “It will have an impact of Rs 60,000-70,000 per tonne.”
The levy of the anti-dumping duty and strong demand after the shutdown of pollutant blast furnaces in China pushed up the domestic prices of graphite electrodes—a key raw material used in steel-making as a heating element.
The depreciating rupee and a hike in iron ore prices by mining major NMDC Ltd. have increased the input costs, Goyal said. The high input costs, however, have been passed on to the customers, he said, adding “before this month-end, the price issue will get settled”.
Watch the full interaction here: