【Flash | Three-Way Bidding Drives Erdenet Molybdenum Concentrate Auction Sharply Higher】

The Material Recycling Association of India (MRAI) said the EU’s proposed restrictions on ferrous and non-ferrous scrap exports to non-OECD countries contain a clear element of “resource protectionism,” rather than serving purely as an environmental measure. MRAI argued that the policy would retain more valuable secondary raw materials within Europe for domestic steel and aluminium producers, while CBAM is also encouraging greater scrap use to reduce carbon intensity.

India’s CESTAT ruled in a case involving Chinese cold-rolled stainless steel imports that anti-dumping duty levied under the Customs Tariff Act forms part of the relevant customs duty framework and must be reflected in the calculation of IGST on imported goods. The tribunal upheld demands of about INR 2.10 million in anti-dumping duty and INR 377,228 in IGST, together with applicable interest.

India’s Customs, Excise and Service Tax Appellate Tribunal (CESTAT) upheld anti-dumping duty and related IGST demands on two consignments of cold-rolled stainless steel flat products imported from China in January and May 2019. Subsequent scrutiny found that the importer had not paid the then-applicable 57.39% anti-dumping duty at self-assessment. The tribunal also reduced the importer’s penalty from INR 400,000 to INR 100,000.