Quality compliance certificates for Chinese steelmakers soon
The Bureau of Indian Standards (BIS) is poised to grant compliance certificates to three Chinese steelmakers for cold rolled grain oriented steel (CRGO). This move addresses a domestic shortage of this crucial alloy, used in transformers and othe...
"The decision to issue quality compliance certificates to Chinese steel follows severe shortage in the domestic market for this grade of steel," a senior official told ET on condition of anonymity.
In October 2023, the government made the Union steel ministry's nod mandatory for imports which have not been pre-certified by BIS. Under the existing policy, BIS certification is issued to eligible steel mills situated outside the country. Once an importer receives a consignment from a BIS-certified manufacturer, government officials verify the goods at the Indian port before it can be sold in the market.
CRGO steel finds applications in aerospace, automotive and energy industries. India's domestic production of this alloy steel meets only about 7% of local demand.
Industry insiders said the three Chinese makers have a total capacity of more than 1.7 million tonnes. India's local demand for this high-value metal hovers around 300,000 tonnes.
The imminent certification comes amid domestic players flagging dumping by Chinese steelmakers in the country.
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