Govt imposes anti-dumping duty on wire rod imports from China

The Dollar Business Bureau 

In order to safeguard the domestic industry, the government has imposed provisional anti-dumping duty on the imports of wire rod of alloy or non-alloy steel from China. 

“The designated authority has recommended imposition of provisional anti-dumping duty on imports of the subject goods, originating in, or exported from subject country and imported into India, in order to remove injury to the domestic industry,” Department of Revenue said in a notification no.51/2016-customs (ADD) issued on Wednesday. 

In its preliminary findings, the authority has found out that the product under consideration (wire rod of alloy or non-alloy steel) has been exported to the country from China below normal value and due to this the domestic industry has suffered material injury on account of dumped imports, it said. 

The duty has been imposed on bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel or alloy steel, excluding the bars and rods containing indentations, ribs, grooves or other deformations produced during the rolling process (commonly known as rebars or TMT bars); bars and rods of stainless steel; and bars and rods of high speed steel. 

The anti-dumping duty imposed shall be effective for a period not exceeding six months and shall be paid in Indian currency.