“Export Duty on HR coils should have been 20 per cent as global prices are still as high as almost $1,000 a ton. If they impose a 15 per cent duty it comes to $850. There are quite good chances they will still export to earn,” said Cold Rolled Steel Manufacturers Association (CORSMA) President S C Mathur.

Levying of export duty on galvanised and color-coated sheets where there is excess capacity of about 3 million tonnes, he said. “If you levy export duty on them, exports would become less competitive and some mills have to close down as domestic market cannot absorb all production. Thus retrenchment of workers which can trigger industrial unrest,” Mr Mathur warned.