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The Price Of Iron And Steel In India

The trade is of course very important in the name of putting a price. The price is usually determined by the quality of the goods. Apart from quality, prices can also be influenced by the area of trade that occurs. The price that follows in the area is usually the price of the raw material. If we think that all the prices of the basic ingredients are the same it turns out there is a point in doing it too.

The price of the basic ingredients that are the same as those bought from the place directly and near may not be much different. But if you buy it far and different regions can be later after processing, then something that is sold can be much more expensive.

Price Of Iron And Steel In India
Price Of Iron And Steel In India

In this article we will discuss the prices of iron and steel in India. Even though you already know that India is the largest producer of steel, then the price may not be friendly. Therefore we refer to the explanation below.

Early On

In 1992 at the beginning of the year precisely in India the problem of regulation of iron and steel prices had indeed been abolished. So the standard is the world market price that dominates. At that time the standard of steel prices was high or low market demand, the price of raw materials going up and down, and of course it looked at the supply situation on the world market. This is certainly more beneficial for the industry which is indeed smart in seeing conditions in the market.

price of raw materials going up and down
price of raw materials going up and down

They can charge stable, high or low prices at any time. But even so, the cycle of market prices goes up and down because the market is certainly watched by ministries and secretaries of steel especially in India. The ministers monitor all market activities which indeed turn around very quickly.

World Market

In addition to monitoring world market conditions, the ministers could also set fiscal policies and other policies to be applied in the world market in India. Then it does indeed produce excise tax for steel in India around 12.5%, and the duty for steel exports around 30%. But the export duty applies only to iron ore with high levels, for low levels it is only imposed with excise of 10%.

This policy must be obeyed by all iron and steel industry players in India, because if not done later the business balance in the country of India can be damaged and not controlled properly. The purpose of establishing excise tax is actually a follow-up from the government which in the past removed regulations on steel prices for the world market from India.

World Market
World Market

Just like that from the explanation of the price of iron and steel, prices are indeed important things that must be considered by business people at situs judi online. Besides that we also have to know the changes and ups and downs of market prices, so that we do not go wrong in setting prices, because the buyers often compare their stores with other stores. Therefore you have to compete with prices in your own area.