India will monitor Chinese steel imports before deciding on further curbs, source says

NEW DELHI, June 23 (Reuters) - India will monitor steel imports for at least ‌two more months before considering whether further measures are needed to curb the flow of shipments primarily from China, a source with direct knowledge of the matter told Reuters.

In December, New ?Delhi had imposed a three-year import tariff on select products to curb ?cheap shipments from China.

But India, the world's second-biggest crude steel producer, ?remained a net importer for a second straight month in May, when ?finished steel imports reached 0.7 million metric tons, above the last six months' average, ?a government report reviewed by Reuters said.

Exports of finished steel in May were 0.5 million metric tons, below the average of the last six months, the government report said.

"We will have ?to see for at least two months how things pan out," the source ?said, declining to be identified due to the sensitive nature of the matter.

There was no decision ‌yet ?whether it would be anti-dumping duties or other measures, the source added.

The federal Ministry of Steel did not respond to a Reuters email seeking comments.

CHINESE IMPORTS HIT TWO-YEAR HIGH IN APRIL

In April, China's finished steel exports to India more than doubled ?to the highest ?in at least ?two years. That raised concerns among India's steelmakers that the imposition of import tariffs has not done enough to protect ?them from cheaply priced imports, Reuters reported earlier this month.

Separately, the source ?said ?the steel ministry had requested the finance ministry withdraw a provisional anti-dumping duty on low-ash metallurgical coke, a steelmaking raw material, but a final decision was yet to be ?taken.

India's ?steel ministry had made the request, citing inadequate ?domestic supplies and higher prices, Reuters had reported last month, citing a government document.