Trump tariff fallout: India becomes steel dumping ground

Trump tariff fallout: India becomes steel dumping ground
06/08/2018 , by , in ALLIED

India seems to have turned a favourite dumping ground for steel makers from not just China but also Japan and South Korea, which are diverting supplies from the US and the European Union in massive volumes to beat the impact of a global tariff war initiated by the Trump administration.

Official data suggest steel supplies from China, the world’s largest steel producer, surged to 3,62,000 tonnes in the April-June period, up as much as 67% sequentially from 2,17,000 tonnes in the previous quarter, even though our overall merchandise imports from the second-largest economy faltered.

Similarly, steel imports from Japan and Korea jumped 47% and 35%, respectively, to 3,74,000 tonnes and 7,46,000 tonnes in the June quarter, against supplies in the previous three months, according to a note prepared by the steel ministry.

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