Indian Ferroalloy Producers Seek Amendments On Duties.

The Indian Ferroalloy Producers' Association (IFAPA) has publicized its pre-budget recommendations to India's Finance Ministry.

According to a local press report, the producers have requested the correction of the inverse duty structure on ferrovanadium and its raw material vanadium pentoxide, asking for the customs duty on vanadium pentoxide (chapter heading 2825.30) and vanadium sludge/ammonium metavanadate (chapter heading 2841.90) to be reduced to zero from the present level of 7.5 percent.

The association suggested that ferromanganese slag listed under customs tariff heading 2621.9000 to be situated in government policy under ‘free' items instead of ‘restricted' items in terms of imports.

The IFAPA also requested that the basic customs duty on ferroalloys be increased to 7.5 percent, except ferronickel which is 100 percent imported.

The association also said that the customs duty on the ores, namely, manganese ore, chrome ore, molybdenum ore/molybdenum oxide, tungsten ore, wolframite ore, scheelite ore, nickel oxide, vanadium ore, etc., falling under chapter 26, are basic raw materials and should be brought down to zero.

Source : steelorbis.com