India slaps anti-dumping duty on steel products from 6 nations
India today slapped anti-dumping duty on import of hot-rolled steel products from six nations, including China and South Korea, in a bid to shield domestic manufacturers against cheaper inward shipments.business Updated: Aug 09, 2016 13:51 IST
India today slapped anti-dumping duty on import of hot-rolled steel products from six nations, including China and South Korea, in a bid to shield domestic manufacturers against cheaper inward shipments.
An anti-dumping duty of USD 474-557 per tonne was imposed on ‘hot-rolled flat products of alloy or non-alloy steel’ import from China, Japan, South Korea, Russia, Brazil and Indonesia, the Department of Revenue in the Ministry of Finance said in a notification.
The duty would be in force for six months till February 7, 2017.
The anti-dumping duty was imposed on recommendation of the Directorate General of Anti Dumping (DGAD).
An anti-dumping duty of USD 474 per tonne was imposed on import of hot-rolled flat products of alloy or non-alloy steel of a width up to 2100 mm and thickness up to 25 mm from Korea and Japan.
Korean firms attracting the anti-dumping duty are Hyundai Steel Company and POSCO. Three Japanese companies JFE Steel Corp, Nippon Steel and Sumitomo Metal Corp are also featuring in the list.
A similar anti-dumping duty was slapped on import of similar products from China, the exporter company being Angang Steel Company Ltd and Zhangjiagang. Imports of the same from Indonesia, Russia and Brazil too attracted USD 474 per tonne duty.
Hot rolled flat products of alloy or non-alloy steel not in coils (commonly known as sheets and plates) of a width up to 4950 mm and thickness upto 150 mm imported from Korea, Japan, China, Russia, Brazil and Indonesia would attract USD 557 per ton anti-dumping duty.
DGAD “has come to the provisional conclusion that the subject goods have been exported to India from the subject countries below normal value (and) the domestic industry has suffered material injury on account of subject imports from the subject countries,” the notification said.
Also, DGAD felt “the injury has been caused by the dumped imports of the subject goods from the subject countries”.
First Published: Aug 09, 2016 13:50 IST