India slaps anti-dumping duty on steel products from China, South Korea, Vietnam
India has imposed definitive anti-dumping duty on certain steel products imported from China, South Korea and Vietnam after an investigation established these items caused injury to domestic producers.
Significantly, the order against China comes just days after a border skirmish between soldiers of the two countries that had resulted in the death of at least 20 Indian soldiers.
Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!
The Indian revenue department in its order said flat-rolled product of steel coated with alloy of aluminum and zinc was being imported into India from these three countries below their normal value, resulting in dumping and causing injury to domestic producers, Livemint reported.
The rate of duty imposed varies from country to country and from exporter to exporter, with the highest rate applicable on exports from China at $128.90 per ton. An earlier provisional anti-dumping duty imposed on the product in October 2019 had expired in April 2020; the new duty is applicable for five years, starting from last October.
India is also said to be actively mulling the imposition of similar anti-dumping duties on tin milled flat rolled steel products used for packaging. The Directorate General of Trade Remedies (DGTR), recommended the imposition on this type of steel originating in or exported from the European Union, Japan, South Korea and the U.S., the Hindu Business Line reported.
The order could affect ArcelorMittal units in France and Spain, Posco in South Korea, and JFE Steel in the U.S., among other companies.
For tin milled flat rolled steel products originating or being exported from Japan, the E.U., the U.S. and South Korea, the DGTR has proposed a duty of U.S. $222 per ton, U.S. $310 per ton, U.S. $334 per ton and U.S. $251 per ton, respectively.
The anti-dumping probe was started by the DGTR in June 2019 following complaints of dumping by domestic producers.
During the probe, questionnaires were sent to 15 exporters of tinplate items from the four trading partners, including ArcelorMittal, Posco, JFE Steel Corporation and Nippon Steel Corporation.
This June, the Indian government extended an anti-dumping duty on a certain variety of steel products until Dec. 4, 2020 with a view to guard domestic manufacturers from cheap imports coming from China, Malaysia and Korea, according to the Business Standard.
Generate hard savings on your metal buys year-round; trial MetalMiner’s monthly outlook report
The duty on imports of hot-rolled flat products of stainless steel 304 series from these countries — which came in the range of U.S. $180-$316 per ton — was first imposed by the finance ministry on June 5, 2015, for a period of five years.
Leave a Reply