In order to protect domestic steel industry from below-cost imports, The Indian Government has said that it has extended further the minimum import price (MIP) on 19 products for two months, till February 4, in order to protect domestic steel industry from below-cost imports. Commenting on the issue, the Directorate General of Foreign Trade told the media, "The Central Government hereby extends the applicability of MIP beyond 04/12/2016.for further two months, i.e., till 4th February, 2017." The MIP ranges between $ 643-752 per tonne. 

 The 19 products include semi-finished products of iron or non-alloyed steel, flat-rolled products of different widths, bars and rods. As per reports, to guard domestic steel producers against in-bound shipments that are sold at below-cost rate, the government in February had imposed MIP, ranging between USD 341 to USD 752 per tonne, on 173 steel products for six months. As per reports, the Government in August decided to extend the minimum import price (MIP) on 66 steel products for a period of two months as against 173 items earlier. This was further extended for two months in October, till today.

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