The Federation of Indian Mineral Industries highlights that this case presents no actual profit to the aluminium trade, as present tariffs keep unchanged. Within the monetary yr 2023-24, India’s complete mineral and non-ferrous steel exports reached USD 17,474 million, with the US accounting for a good portion.
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REUTERS/Alexander Manzyuk
With the US placing a 90-day pause on implementing reciprocal tariffs on most nations, together with India, aluminium producers are carefully monitoring the dynamic state of affairs with respect to modifications in commerce flows, trade analysts stated on Thursday.
India’s metal exports to the US isn’t greater than two per cent of its main aluminium manufacturing or 4 per cent of its complete output shipments, they stated.
Nonetheless, there’s a have to maintain a detailed watch on defending the home market from potential dumping from different nations akin to China and the Center East, they added.
Amid a worldwide market meltdown, US President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, however raised the tax fee on Chinese language imports to 125 per cent.
Nonetheless, the ten per cent tariff that got here to impact on April 5 will likely be there. The US, whereas saying a sweeping reciprocal tariffs on most of its commerce companions on April 2, had imposed extra import obligation of 26 per cent on India.
The aluminium trade isn’t lined underneath the reciprocal tariff order, however the sector has already been dealing with a further 25 per cent levies introduced by the US administration in March this yr.
B Okay Bhatia, extra secretary basic of FIMI (Federation of Indian Mineral Industries), is of the view that tariff pause isn’t going to have any profit for the aluminium trade “as tariff imposed at 25 per cent earlier on aluminium and metal stays unchanged and was not a part of the reciprocal tariff”.
Through the monetary yr 2023-24, India’s complete exports of minerals and non-ferrous metals (aside from metal) stood at USD 17,474 million. Out of this, exports to USA accounted for USD 1,291 million which is about 7.4 per cent of the full exports of this sector.
The key share of exports is accounted for by aluminium and its articles, price about USD 946 million, adopted by copper and articles, price USD 292 million and baryte, price USD 78 million.
Revealed on April 10, 2025
