Govt imposes anti-dumping duty on steel flat products imports from China, EU
The Dollar Business Bureau
In order to safeguard the domestic industry from cheap imports, the Government on Tuesday imposed anti-dumping duty on imports of colour coated/pre-painted flat products of alloy or non-alloy steel from China and European Union (EU).
Department of Revenue, Ministry of Finance, in a notification (No.49/2017-Customs -ADD) said, “After considering the final findings of the designated authority, the Central Government imposes anti-dumping duty on colour coated/pre-painted flat products of alloy or non-alloy steel imported from China and European Union (EU).”
In its final findings (vide notification vide notification No.14/28/2016-DGAD dated August 30, 2017), the designated authority (DGAD) has come to the conclusion that the “subject goods have been exported to India from the subject countries below its normal value, resulting in dumping and the domestic industry has suffered material injury due to dumping of the subject goods from the those countries,” the notification said.
Based on the recommendations of designated authority, the Finance Ministry has imposed antidumping duty at a rate which is equivalent to difference between the landed value and minimum import price of $822//MT.
The products under consideration are pre-painted, painted, colour coated or organic coated flat steels in coils or not in coils whether or not with metallic coated substrate of zinc, aluminium, and zinc or any other substrate coating.
Essar Steel India Ltd and JSW Steel Coated Products Ltd had filed the application for initiating anti-dumping investigations with Directorate General of Anti-Dumping (DGAD).
The anti-dumping duty shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of the notification and shall be payable in Indian currency, the notification said.
India imported around 739.96 million worth of flat rolled products of iron/non-alloy steel during the financial year 2016-17. During April-July period of current fiscal, the country imported $343 million worth of flat rolled products of iron/non-alloy steel.