Washington: Certain categories of Indian steel pipes being exported to the US received a subsidy of about 300 per cent, an American trade body said today.

As a result, the US Department of Commerce has instructed Customs and Border Protection to collect a cash deposit or bond based on these preliminary rates, an official statement said.

"In the India investigation, mandatory respondents Zenith Birla (India) Ltd and Lloyds Metals and Engineers Ltd both received preliminary net subsidy rates of 285.95 per cent, based on the application of adverse facts available," the International Trade Administration said.

All other Indian producers/exporters also received a preliminary net subsidy rate of 285.95 per cent, it said.

In 2011, imports of certain steel pipe from India, Oman, the UAE and Vietnam were valued at an estimated USD 64.5 million, USD 28.1 million, USD 53.9 million and USD 50.1 million, respectively.

"Commerce has aligned the countervailing duty (CVD) investigations with concurrent anti-dumping duty investigations, and is currently scheduled to make its final determinations in August, 2012," the statement said.

If Commerce Department makes affirmative final determinations and the US International Trade Commission (ITC) makes affirmative final determinations that imports of certain steel pipe from India, materially injure, or threaten material injury to, the domestic industry, Commerce will issue CVD orders, it added.

"If either Commerce or the ITC's final determinations are negative, no CVD order(s) will be issued. The ITC is scheduled to make its final injury determinations in July, 2012," the statement said.

Wed Mar 28 2012, 11:21

Source: indianexpress.com