Aluminium makers advanced after Indian Govt. announces imposition of anti-dumping duty

09/12/2021 12:35 - 51 Views

Shares of three aluminium makers edged higher in trade after the Central Government announced the imposition of anti-dumping duty on select aluminium products imported from China.

National Aluminium Company (up 5.77%), Hindalco Industries (up 4.54%) and Vedanta (up 2.26%) advanced.

In a notification dated 6 December 2021, the Department of Revenue, Ministry of Finance, Government of India, said that in the matter of 'Certain Flat Rolled Products of Aluminium' (the subject goods), originating in, or exported from People's Republic of China (subject country), it has come to the conclusion that the dumping margin for the subject goods from the subject country is positive and significant, the domestic industry has suffered material injury and the injury margin is positive and the material injury suffered by the domestic industry has been caused by the dumped imports.

The Department has recommended imposition of an anti-dumping duty on the imports of subject goods, originating in, or exported from the subject country and imported into India, in order to remove injury to the domestic industry.

The anti-dumping duty so imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette.

Source: BusinessStandard