India may impose anti-dumping on certain type of Chinese steel
India may impose anti-dumping duty of up to $185.51 per tonne for five years on certain varieties of Chinese steel with a view to guard domestic players from cheap imports of the commodity from the neighbouring country.
JSW Steel Ltd, Sunflag Iron and Steel Co, Usha Martin, Gerdau Steel India, Vardhman Special Steels and JayaswalNeco Industries Ltd had jointly filed an application for initiation of the investigations and levying of anti-dumping duties on the steel.
In its anti-dumping investigations, the Directorate General of Trade Remedies (DGTR) has stated that dumped imports of ‘straight length bars and rods of alloy steel’ from China have increased in absolute terms during the period of probe (2016-17).
It said that the dumped imports are undercutting the prices of the domestic industry and due to this the domestic industry’s profits, return on capital employed and cash profits have declined during 2016-17.
“The authority recommends imposition of anti-dumping duty” on the imports from China “for period of five years,” the DGTR has said in a notification.