Tel :
Tel :
The Indian BV/A500 steel Ministry of Steel is expected to postpone the implementation of the new regulation on "Simultaneous BIS Certification of Finished Steel Raw Materials" issued on June 13th, in order to alleviate the customs clearance difficulties of goods that have already arrived at the port. It is reported that the government is developing a buffer schedule to ensure smooth customs clearance of goods in transit.
Previously, the Ministry of Steel issued a notice stipulating that all raw materials for the production of imported steel products must obtain a BIS license (as reported by Mysteel).
Subsequently, the Indian think tank Global Trade Research Initiative (GTRI) stated that the new regulations may have a serious impact on small and medium-sized enterprises (MSMEs) that rely on steel imports. The Ministry of Steel stated in its explanatory announcement on July 2nd that the BIS dual certification aims to strengthen the implementation of the original 151 Quality Control Orders (QCOs) and has not added any restrictive clauses.
At the meeting on July 7th, the Ministry of Iron and Steel clarified the scope of exemption. In addition to exempting raw materials from inspection for comprehensive steel mills that have obtained BIS certification overseas, it also allows for the exemption of new regulations for products from overseas re rolling BV/A500 steel mills that use BIS certified raw materials; Secondly, clarify the certification process. BIS will complete the factory inspection within 2 months after receiving the steel mill's application and issue the certificate within the following 2 months, compressing the entire process to 3-4 months.
Market participants stated that the current main contradiction is weak industry demand rather than import shocks, especially during the monsoon season when infrastructure spending sharply decreases leading to a collapse in demand. They called on the government to prioritize stimulating domestic demand. The market has reached a consensus on the extension of the new regulations and is awaiting the release of a formal document by BIS.
It is worth noting that in this round, Kardemir BV/A500 steel only accepts orders for threaded steel and wire rods, and the windows for accepting orders for steel billets, sections, and profiles remain closed. In the future, it is necessary to continue to pay attention to the trend of scrap steel price and the support of the recovery rhythm of Türkiye's local demand for construction steel on the price of long materials.
