"So, that is the balance we have to constantly strike. That is very important," she asserted. The government has recently taken steps to ring fence the steel industry from the onslaught of cheaper imports, which stirred up a hornet's nest. Over the last 2-3 months, the steel prices have gone up by around Rs 6,000-6,500 per tonne due to various factors, including a rise in prices of raw materials such as iron ore and coal, said an analyst.
Internationally too, the steel prices have hardened nearly $150 per tonne, the analyst said, adding that at this level, there is room for price hike in future. "About Rs 40,000 per tonne is the average price of hot rolled coil (which is the base price indicator product)," he added.
Defending the protectionist measures "as the right thing to do", the steel secretary maintained that the government is not against imports.
"What we say is you can't use India as a dumping ground. That's all. You can't do at a throwaway price," Sharma warned. Recently, India slapped the countervailing duty for five years on certain Chinese flat steel products to guard domestic players against imports that are subsidised by the exporting nation.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)