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India to impose temporary anti-dumping duty on some steel products
04/08/2016 12:00
An Indian government body has recommended provisional anti-dumping duty on imports of hot-rolled steel products, a government statement said on Tuesday, to reduce overseas purchases of the alloy and shield local mills.
The anti-dumping duty will come into effect after New Delhi formally notifies the tax.
The Directorate General of Anti Dumping recommended the duties on steel products from China, Japan, South Korea, Russia, Brazil and Indonesia, the statement said.
Indian steelmakers such as the Steel Authority of India (SAIL.NS) , JSW Steel (JSTL.NS) and Tata Steel (TISC.NS) had lobbied for protectionist measures to prevent cheap overseas purchases that were undercutting local mills and squeezing margins.
The anti-dumping duty will come into effect after New Delhi formally notifies the tax.
The Directorate General of Anti Dumping recommended the duties on steel products from China, Japan, South Korea, Russia, Brazil and Indonesia, the statement said.
Indian steelmakers such as the Steel Authority of India (SAIL.NS) , JSW Steel (JSTL.NS) and Tata Steel (TISC.NS) had lobbied for protectionist measures to prevent cheap overseas purchases that were undercutting local mills and squeezing margins.
Source: Reuters
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