Curbs on steel exports likely to be reimposed

摘要

To prevent a sharp spurt in domestic steel prices, the government is likely to reimpose curbs on steel exports, which have risen 27.65 per cent in April-May period of the current fiscal, reported a leading business daily. To prevent a sharp spurt in domestic steel prices, the government is likely to reimpose curbs on steel exports, which have risen 27.65 per cent in April-May period of the current fiscal, reported a leading business daily. According to sources, the steel ministry is considering a freeze on export incentives like duty entitlement passbook scheme (DEPB) on steel once again to prevent exports that have the potential to push up the domestic steel prices. Last year (in March 2004), the government had frozen DEPB benefit on steel to prevent the spiralling growth in exports. It was restored early this year as exports started declining.