India: Anti-dumping duty to be levied on steel imports from 3 nations

17/03/2015 12:00 - 509 Views

It is reported that following months of investigation, the Directorate-General for Anti-Dumping and Allied Duties has advised the Commerce Ministry to levy an anti-dumping duty of USD 180 to USD 316 per tonne on hot-rolled flat stainless steel imports from three countries.

The DGAD has recommended a levy of USD 309 per tonne on imports from China, while imports from Malaysia and Korea are likely to attract duties of USD 316 per tonne and USD 180 per tonne, respectively.

This would result in a minimum 10% increase in the cost of utensils and other household products made of imported flats with low value addition. Inputs for high value addition for products such as boilers and railway coaches would go up by 5%.

Domestic stainless steel producers are expected to benefit from the development along with re-rollers that have been suffering due to cheap imports.

The DGAD recommendation said that "It was concluded that domestic industry suffers material injury due to such dumped imports, imposition of a definitive measure is required to prevent this injury."

Imports from these three countries are estimated to account for 30% of India’s domestic demand, of which hot-rolled flat is the largest. The recent months saw imports rise by 200% to 300%, even as domestic stainless steel mills are operating at 50% to 60% capacity.

Mr N C Mathur, President of Indian Stainless Steel Development Association, said that "It is a positive move by the government and will certainly promote ‘Make in India’."

Source: Exim News Service