Govt to impose temporary anti­-dumping duty on steel

NEW DELHI: The government is expected to impose an anti-dumping duty of up to $557 per tonne on imports of certain steel products from six countries, including China,

NEW DELHI: The government is expected to impose an anti-dumping duty of up to $557 per tonne on imports of certain steel products from six countries, including China, Japan and Korea. The anti-dumping duty will come into effect after New Delhi formally notifies the tax. In its preliminary findings, the Directorate General of Anti-Dumping and Allied Duties (DGAD), under the commerce ministry, has found that hot-rolled flat products of alloy or non-alloy steel has been exported to India from China, Japan, Korea, Russia, Brazil and Indonesia at “below-normal value”. Companies, including Steel Authority of India (SAIL) , JSW Steel and Tata Steel had lobbied for anti-dumping duty to prevent cheap overseas purchases that were squeezing margins.

HT Image