India’s DGTR Recommends AD Duty on High Speed Steel of Non Cobalt Grade from Brazil, China, Germany

07/08/2019 12:00 - 331 Views

Indian’s commerce ministry’s investigation arm Director General Trade Remedies, after concluding its probe on alleged dumping of High Speed Steel of Non Cobalt Grade being imported from Brazil, China, and Germany, has recommended imposition of anti dumping duty. This steel is used for making high-speed steel-cutting tools. It has concluded that the product has been exported to India from these nations below its normal value, which was resulting in dumping of the product. DGTR said that “The authority considers it necessary to recommend imposition of anti-dumping duty on imports” of the goods from these countries for a period of five years. The recommended duty ranges between USD 1,902.34 and USD 3,263.68 per tonne.”

The final decision to impose the duty will be taken by the finance ministry.

The anti-dumping probe was conducted following a complaint from Graphite India Ltd. It had asked for imposition of the duty on the imports.

Source: SteelGuru