Indian Pipe Manufacturers’ Association (IPMA) has written to the Union Steel Minister Dharmendra Pradhan seeking a temporary ban on steel exports. The industry body states rising steel prices and shortages in the domestic market have impacted domestic pipe manufacturers and other units under the MSME category.
IPMA states prices for steel have increased by over 60pc in 10 months with expectations of rising Rs4,000/mt in the coming days, thus impacting downstream industries. The industry body states, that many small and medium-scale units in downstream industries have either closed or on a brink of closure amid the COVID-19 pandemic and its impact on the economy. IPMA states the rise in raw material price has increased the cost of infrastructure projects by around 100-150pc, which could impact the country’s infrastructure vision.