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The sources said that at a meeting held with steel companies last week steel producers made presentations on the negative impact of the export tax on overseas sales, to which the ministry has sought additional details company data on capacity utilizations, the breakdown of domestic and overseas sales, assessments of demand-supply forecasts and product-wise sales.

The sources said that the detailed company data will be used to assess the options of considering any policy changes to the export tax.

Indian finished steel exports declined by 66 percent in August, by 75 percent in July and by 53 percent in June, month on month.