Steel import duties

NEW DELHI: An arm of the Indian finance ministry has recommended maintaining import duties on some steel products until March 2018, a government document showed on Wednesday, in a move to support the local steel industry and protect mills from cheaper imports. The government imposed a provisional safeguard import duty for 200 days on some steel products in September 2015 and last month set a floor price on imports to deter countries such as China from undercutting local mills, the first such move in over 15 years. Steel imports into India, the only major market where steel demand is growing, dropped for a fourth straight month in February.