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MSL sees good biz after US slaps anti-dumping duties on China
18/06/2015 10:22
Mumbai , Sept 14 Maharashtra Seamless, belonging to the Rs 4000-crore DP Jindal Group, today said the imposition of anti-dumping duties on China-made steel pipes by the US government has enhanced business prospects of the company.
It has been put in advantageous position following this measure taken by the American government, Maharashtra Seamless said in a filing with the Bombay Stock Exchange.
Jindal Group CEO Anil Jain said,"As the size of business vacated due to imposition of anti-dumping duty is very large, it would have positive impact on other seamless tubes suppliers including MSL."
On September 9, the US imposed duties ranging from 10.90 per cent to 3069 per cent on Chinese-made steel pipes used to transport oil.
The US department of Commerce had announced its affirmative preliminary determination in countering duty investigation on imports of certain oil tubular goods from Chinese mills.
The DoC preliminarily found that Chinese producers/ suppliers received net countervailable subsidies ranging from 10.9 to 3069 per cent Therefore, an equal anti-dumping duty had been imposed.
It has been put in advantageous position following this measure taken by the American government, Maharashtra Seamless said in a filing with the Bombay Stock Exchange.
Jindal Group CEO Anil Jain said,"As the size of business vacated due to imposition of anti-dumping duty is very large, it would have positive impact on other seamless tubes suppliers including MSL."
On September 9, the US imposed duties ranging from 10.90 per cent to 3069 per cent on Chinese-made steel pipes used to transport oil.
The US department of Commerce had announced its affirmative preliminary determination in countering duty investigation on imports of certain oil tubular goods from Chinese mills.
The DoC preliminarily found that Chinese producers/ suppliers received net countervailable subsidies ranging from 10.9 to 3069 per cent Therefore, an equal anti-dumping duty had been imposed.
Separately, China has challenged at WTO the US anti- dumping duties on certain types of steel pipes, pneumatic off -road tyres and woven sacks.
PTI
Published: September 14,2009
Source: www.indopia.in
Published: September 14,2009
Source: www.indopia.in
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