{"id":35603,"date":"2022-04-12T15:11:39","date_gmt":"2022-04-12T09:41:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-steel-ferronickel\/"},"modified":"2022-04-12T15:31:10","modified_gmt":"2022-04-12T10:01:10","slug":"biz-steel-ferronickel","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-steel-ferronickel\/","title":{"rendered":"Steel ministry seeks duty-free import of ferronickel"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3742307521\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Apr 12 (PTI) Union steel ministry has asked the finance ministry to remove the basic customs duty on ferronickel, a key raw material for stainless steel makers, a senior government official said on Tuesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4123116672\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The move will help stainless steel makers to reduce their input cost.<\/p>\n<p> At present, a 2.5 per cent duty is imposed on the imports of ferronickel.<\/p>\n<p> The domestic stainless steel manufacturing industry meets the bulk of its nickel requirements through ferronickel and stainless steel scrap.<\/p><div class=\"trade-content_5\" id=\"trade-2909518198\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Earlier, the government had removed the 2.5 per cent import duty on scrap for a limited period till March 2023.<\/p>\n<p> The government is aware of the challenges the Indian stainless sector is facing. Raw material availability is one of the major challenges in front of the industry, Additional Steel Secretary Rasika Chaube told PTI on the sidelines of the Global Stainless Steel Expo (GSSE) 2022 here.<\/p>\n<p> &#8220;We got (zero duty on scrap) extended up to March 23. Second is nickel and chromium. Chromium is in good supply but nickel is not available. We have taken up the matter (to remove duty ferronickel) with the finance ministry because this is a very important raw material for the stainless steel industry,&#8221; Chaube said.<\/p>\n<p> Such decisions are taken after a lot of considerations by the finance ministry, and the steel ministry can recommend for the same, the official said.<\/p>\n<p> Ferronickel is required for the manufacturing of corrosion-free steel which is used in various sectors like auto, defence, railways and infrastructure. PTI ABI  HVA HVA<\/p>\n<div class=\"trade-after-content\" id=\"trade-438215496\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Apr 12 (PTI) Union steel ministry has asked the finance ministry to remove the basic customs duty on ferronickel, a key raw material for stainless steel makers, a senior government official said on Tuesday. The move will help stainless steel makers to reduce their input cost. At present, a 2.5 per cent duty is [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-35603","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Steel ministry seeks duty-free import of ferronickel - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-steel-ferronickel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steel ministry seeks duty-free import of ferronickel\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Apr 12 (PTI) Union steel ministry has asked the finance ministry to remove the basic customs duty on ferronickel, a key raw material for stainless steel makers, a senior government official said on Tuesday. 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