Government imposes minimum import price on 173 steel items Government imposes minimum import price on 173 steel items

The government imposed minimum import price (MIP) on 173 steel products ranging from $341 to $752 per ton.

• This is the government’s action to give relief to domestic steel producers against cheap in-bound shipments.
• The discussion will directly affect the price of raw materials and will suitably give cheap imported materials.
• The prices will remain low only for six months.
• These rules were not implemented on advance authorization scheme and high-grade pipes used in the petroleum and natural gas industry.