India threatens probe against China for ‘dumping’ steel products

A government body has issued notices to China, Japan and South Korea proposing to initiate a probe on the ‘dumping’ of some steel products into India, a source said.

A government body has issued notices to China, Japan and South Korea proposing to initiate a probe on the ‘dumping’ of some steel products into India, a source said.

Workers weld steel frames at a factory producing auto spare parts in China's Sichuan province. (AP)

The notices have been issued for hot-rolled coils of alloy and non-alloy steel, a source at the Directorate General of Anti-Dumping & Allied Duties (DGAD) told Reuters.

Indian steelmakers Steel Authority of India Ltd, JSW Steel Ltd and Essar Steel had approached the DGAD seeking anti-dumping duties on cheap imports flooding local markets and pressuring margins.

Imports of steel into India rose 20.5 percent in the 11 months to February compared with the same period last year, government data showed.

New Delhi last week extended safeguard import taxes on some steel products until March 2018, and in February imposed a floor price to curb overseas purchases of cheap steel and shield domestic mills.