Steel imports into India on rise despite anti-dumping duty
In a move to protect domestic industry from over-dumping of low quality of steel and its products, the Indian government has decided to impose anti-dumping on import of steel products from three countries. Taking into consideration the recommendations by Customs Authority, the Central government has decided to impose anti-dumping duty on import of ‘Hot Rolled austenitic stainless steel flat products of 304 series’ from People’s Republic of China, the Republic of Korea and Malaysia, informed a Customs Notification NO.28/2015-Customs, dated June 5, 2015. Under implementation, the government will be imposing anti-dumping duties on import of said-goods from China, Malaysia and South Korea at duty amounts- $309, $316, $180 respectively, per metric tonne, for the ‘Hot Rolled austenitic stainless steel flat products of 304 series of all widths up to 1650 mm.’ The Customs Authority, in its final findings as notified on March 9, 2015 and amended as per notification-14/30/2013-DGAD, dated May 19, 2015, has concluded that the said-goods have been exported to India from the said-countries below its associated normal value, thus, resulting in product dumping and the dumping margins of goods were also found to be above de-minimis level. As a result, the domestic industry suffered damages due to the imported/dumped goods both in terms of volume and price of dumped imports. Prior to this, the government has imposed anti-dumping duty on import of ‘Cast aluminium alloy wheels’ or ‘alloy road wheels used in Motor Vehicles’ of a size ranging from 12 inches to 24 inches, from the countries including China, South Korea and Thailand at duty rates-$1.37, $1.18 and $1.06 respectively per kilogram. And, much prior to that was on March 26, 2015, the Central government imposed anti-dumping duty on ‘Cold Rolled Flat Products of Stainless Steel products from China, South Korea, European Union, South Africa, Taiwan, Thailand and USA. Austenitic stainless steel is the widely used grade of stainless steel that is mostly used in automotive trim, cookware, food and beverage equipment, industrial equipment and the 304 series of the same is used in tanks, storage vessels and pipes for corrosive liquids, mining, chemical, cryogenic, food and beverage, and pharmaceutical equipment, cutlery, architecture, sinks, among others. Going by the Ministry of Commerce statistics, despite the Indian government’s efforts to stop steel dumps into India, the exports of ‘Flat-rolled products of stainless steel of width more than 600mm’ from China, South Korea and Malaysia recorded a year-on-year rise.
June 06, 2015 | 8:20 pm IST.