Following Taiwan that in mid-January announced it would join the consultations between Japan and India on the Indian steel imports limitations, Ukraine and Russia decided to do the same.
According to Russia, the import limitations, imposed by India in 2015-2016, resulted in the decrease of Russian exports to India by 38% YoY in 2016, to $113 million.
The Ukrainian party notes that the Indian practice of protective measures is based not on the real increase of imports, but on the forecasts and assumptions and thus does not correspond to the WTO principles.
Having faced the claims of the four countries, and Korea might become the fifth, Indian authorities say that the measures are temporary and will soon be cancelled. According to them, hot-rolled coil measures will be cancelled in late March. (Ukrainian metal)