Govt imposes anti-dumping duty on imports of steel products from China
The Dollar Business Bureau The Government has imposed an anti-dumping duty on imports of colour-coated/pre-painted flat products of alloy or non-alloy steel originating from China and the European Union. The recommended anti-dumping duty is $849 per metric tonne and shall be effective for a period not exceeding six months, unless revoked, superseded or amended earlier from the designated date and will be paid in Indian currency, the DGFT said in a notification. The domestic steel industry had raised its concerns with the government over the rising imports of the material originating mainly from China, European Union. The designated authority after its due investigation found that these countries had dumped the material at less-than its normal value, which has caused a significant injury to the domestic ...
Steel imports grew 25% in April-August this fiscal
The Dollar Business Bureau India’s stainless steel imports grew 25% in the first five month of the current fiscal to 2.3 lakh tonnes, steel industry body Indian Stainless Steel Development Association (ISSDA) said. The inbound shipments of the metal, mainly used for preparing kitchen appliances and utensils, stood at 1.84 MT in the corresponding period of 2015-16, the data showed. The Indian steel industry has registered a constant rise in the metal imports value for over the last few years. In the financial year 2015-16, the imports of stainless steel flat product grew 24% to 5.32 lakh tonnes in 2015-16 from 4.28 lakh tonnes in 2014-15. The 2015-16 imports accounted for 25% of the total domestic demand of around 24 lakh tonnes. ISSDA has ...
Anti-dumping duty imposed on steel products from China: Vishnu Deo Sai
The Dollar Business Bureau The Government on Wednesday announced it had imposed anti-dumping duty on inbound shipments of various steel products from China in May this year. The announcement was made by Minister of State in the Ministry of Steel, Vishnu Deo Sai, in Rajya Sabha, as the government looked to provide relief to the domestic steel industry as a whole. The steel products under consideration included steel wheels, hot rolled flat product of stainless steel, cold rolled flat products of stainless steel and seamless tubes and pipes. The anti-dumping duty was in the range of $961-1610.67 per MT. Steel imports from China have been under the scanner for a long time now, and the government has often come out with calculated measures to ...
Steel industry cheers as govt imposes anti-dumping duty
Deepak Kumar | The Dollar Business Bureau The government on Friday imposed a five-year anti-dumping duty on imports of some steel products from China and other countries to protect the domestic industry. The Indian steel producers have welcomed the announcement. However, they also expected some additional measures to stop flow of cheap imports from China and make domestic industry more viable. “The government is now contemplating the minimum support price (MSP), below which imports can’t be made. They have already announced some drafts. We are expecting some more clarifications on it next week,” C V Raghavan, Director of Finance at Ferro Alloys Corporation Ltd (FACOR), told The Dollar Business. “Chinese are dropping their steel prices further to mitigate the anti-dumping ...
Govt begins safeguard duty probe on steel imports
Deepak Kumar | The Dollar Business Taking note of the complaints from domestic steel producers, the government has started an investigation to ascertain whether to impose safeguard duty or not on the import of certain steel products shipped from China, South Korea and other countries. The probe began after Steel Authority of India Ltd. (SAIL), Essar Steel India Ltd. JSW Steel Ltd. and Jindal Steel & Power Ltd. had asked the government to impose a 20% safeguard duty for a period of four years on imports of certain types of steel products. The products under consideration were hot rolled flat sheets and plates of alloy or non-alloy steel having nominal thickness less than or equal to 150mm and nominal width of ...
