Govt starts probe on stainless steel dumping by EU, US | delhi | Hindustan Times
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Govt starts probe on stainless steel dumping by EU, US

delhi Updated: May 24, 2010 17:30 IST

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The government has initiated a probe into the alleged dumping of certain stainless steel products consumed by auto-component, building and fabrication industries, by the EU, Korea, South Africa, Taiwan and USA.

JSL Ltd (formerly known as Jindal Stainless) had approached the Centre for initiation of the investigation into the alleged dumping of hot-rolled flat products of stainless steel.

The complainant said the dumping was causing injury to the domestic industry.

The Directorate General of Anti-Dumping and Allied Duties (DGAD), under the Commerce and Industry Ministry, is conducting the probe, an official said.

"The Authority (DGAD)...hereby initiates an investigation into the alleged dumping and consequential injury to the domestic industry...to determine the existence, degree and effect of alleged dumping and to recommend the amount of anti-dumping duty...," the DGAD said.

The goods under investigation are also used for manufacture of reactor vessels, material handing equipment, railways, pipes and tubes, architecture, building and construction and industrial fabrication.

While the Commerce Ministry recommends anti-dumping duty, the Finance Ministry imposes it.

The principle of anti-dumping duty is to prevent dumping and to ensure fair trading practices and to create a level playing field for domestic producers vis-a-vis foreign producers and exporters resorting to dumping.