AAI demands higher import duty on aluminium scrap
Aluminium Association of India (AAI) has urged the government to increase the duty on imports of aluminium scrap as the domestic sector may become victim of escalating trade war between the US and China. The statement comes in the wake of Washington imposing 25 per cent duties on USD 34 billion of imports from China.The association said an estimated 30 per cent of China's aluminium scrap imports come from the US. And recently China has announced its intent of imposing 25 per cent import duty on the metal from America. Aluminium is required by the industries like automobile, construction, consumer goods etc.All these industries are growing in India and the country is producing sufficient amount of required metal domestically, AAI said."We have a capacity of 4 million tonnes per annum (MTPA) and our consumption is 3.6 MT which we are producing. So, what will be the situation in the market when import will start increasing. It will ruin the domestic aluminium industry," the association added.
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