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Import duty on steel cut

By Our Special Correspondent

NEW DELHI, FEB. 24 . The Government has announced an across-the-board import duty cut of five per cent in the case of metallurgical coke, pig iron and cast iron.

The duty on metallurgical coke has been reduced from 10 to five per cent, pig iron from 15 to 10 per cent and cast iron from 20 to 15 per cent.

The duty cuts take effect from tonight.

A spokesman for the Steel Authority of India Limited (SAIL) said the reductions would help stabilise the domestic steel prices that had seen volatility in recent times.

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