industry
Assembly passes revised steel tariff schedule
The new bands favour domestic rolling and raise the duty on imported scrap.
The Assembly approved a revised steel tariff schedule on Wednesday, lowering the duty on primary billet and raising it on imported scrap in a package the government says will protect domestic rolling.
The bands reverse part of the 2006 revision, which had cut duties across the sector to meet the Council for Growth’s trade commitments. The Council for Growth and Agriculture abstained, warning that the scrap duty would raise input costs for the smaller foundries.
Maj Holdings and its Cetingrad subsidiary Vokamet both welcomed the schedule. The independent rolling mills said the change would favour the largest producers, who hold their own scrap yards.