Small Steel Mills Pause Job Cuts After China Imports Curbs

India's smaller steel mills plan to delay job cuts and other measures such as trimming output, executives said, after the government imposed a temporary tariff to protect local producers from a surge in cheap imports, chiefly from China.

- Reuters

NEW DELHI:

On Monday, India, the world's second-biggest producer of crude steel, imposed a 12% temporary tariff, or provisional safeguard duty, on some steel imports for 200 days.

"We have put the decision to cut jobs on hold and we will see how demand fares," said Adarsh Garg, chairman and managing director at northern Indian state Punjab's Jogindra Group.

"The industry was in losses and this duty might bring relief and the opportunity to raise prices," Garg said.