CBEC extends anti-dumping duty on alloy and non-alloy imports for 2 months
The Dollar Business Bureau
The Central Board of Excise and Customs has extended the anti-dumping duties imposed on imports of Hot-rolled and Cold-rolled flat products of alloy or non-alloy steel from People's Republic of China, Japan, Korea RP, Russia, Brazil, Indonesia and Ukraine for another two months. This is a provision to protect the business interests of local manufacturers and to reduce the dependency on imports.
This was conveyed via notification no’s: No.5 & No.6/2017-Customs (ADD) dtd Feb 7, 2017. The government has to make periodic amendments to the safeguard measures until the investigation by the Director General of Anti-Dumping concludes as the anti-dumping duty cannot be imposed for a longer term.
The domestic steel lobby including JSW, Essar Steel and the Steel Authority of India have impressed upon the government for stronger protectionist measures against cheaper imports of alloy to enable the local manufacturers to gain a foothold and to reduce the squeezing margins.