Govt imposes anti-dumping duty on imports of rods and bars from China

Govt imposes anti-dumping duty on imports of rods and bars from China

The Govt imposed antidumping duty ranging between $535 and $546 per MT, of the landed value of the goods.

The Dollar Business Bureau

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

“The Central Government, after considering the final findings of the designated authority, hereby imposes anti-dumping duty on the subject goods,” Finance Ministry said in a notification (No.48/2017-Customs ADD) on Monday.

In its final findings (vide notification No.14/17/2016-DGAD dated August 30, 2017), the designated authority has come to the conclusion that the “subject goods have been exported to India from the subject country below its normal value, resulting in dumping,” the notification said.

Based on the recommendations, the Finance Ministry imposed an antidumping duty ranging between $535 and $546 per MT, of the landed value of the goods.

The products under consideration are bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel or alloy steel, excluding (i) bars and rods containing indentations, ribs, grooves or other deformations produced during the rolling process falling under tariff item 72131090 (commonly known as rebars or TMT bars), (ii) bars and rods of stainless steel falling under tariff heading 7221 and (iii) bars and rods of high speed steel falling under tariff heading 72271000.

The application for initiating anti-dumping investigations had been jointly filed with Directorate General of Anti-Dumping (DGAD) by Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd, Usha Martin Ltd and JSW Steel Limited.

The anti-dumping duty shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of the notification and shall be payable in Indian currency, the notification said.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 $24.4 million worth of bars and rods during the financial year 2016-17. During April-July period of current fiscal, the country imported $11.97 million worth of bars and rods.

The Dollar Business Bureau - Oct 10, 2017 12:00 IST