India clears stainless steel exporters from investigation

10/04/2015 12:00 - 529 Views

HCMC – Officials at India’s Ministry of Finance have decided not to take safeguard measures against cold rolled stainless steel products imported from Vietnam, Korea, Japan, China, the European Union, the United States and Mexico.

The Vietnam Competition Authority said on Wednesday that India has stopped such investigation into the steel imports from the markets as it has not found convincing evidence of the threat or severe injury caused to its steel industry.

The Vietnam Competition Authority said the safeguard probe was initiated on September 19 last year after M/S Jindal Stainless Steel, which holds a lion’s share of India’s steel market, filed a lawsuit against exporters from the markets, claiming cold rolled stainless steel imports had caused significant injury for the Indian steel sector from 2011 to 2014.

Vietnamese steel products have faced more anti-dumping probes than other products in foreign markets in the past three years.

In June last year, the U.S. decided to commence anti-dumping and anti-subsidy investigations into steel nails imported from Vietnam and other markets while Canada conducted similar probes into steel oil pipes imported from a number of countries, including Vietnam, in July the same year.

In July 2014, Australia’s Anti-Dumping Commission started an anti-dumping investigation into the galvanized steel products imported from Vietnam and India after

BlueScope Steel Limited put a dumping margin of 16.26% on Vietnamese steel products exported to that market.

Source: TheSaigonTimes.vn