India Steel Market Watch
December 14: India imposed an anti-dumping duty of up to 57.39% on imports of certain stainless steel products from China, Korea, the US and the EU for five years to save the domestic industry from cheap shipments.
“The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier)...,” according to a statement from the Central Board of Excise and Customs (CBEC).
The duty in the range of 5.39% to 57.39% of the landed value of “cold-rolled flat” products of stainless steel has been imposed on the recommendation of the Directorate General of Anti-Dumping and Allied Duties (DGAD) put forward in October.
The anti-dumping duty will be 57.39% on the imports from China, 5.39%-13.44% from South Korea, 15.93% from Chinese Taipei, 9.47% from the US, 29.41%-52.56% from the European Union, 4.58%-5.39% from Thailand and 12.34%-36.91% from South Africa.
“The subject goods include cold-rolled flat products of stainless steel of width of 600 mm up to 1,250 mm of all series ...,” according to the CBEC notification.
Earlier also the duty had been imposed on such imports. The period expired in April this year.
Before the expiry of the duty, Jindal Stainless, a major domestic manufacturer, has moved the DGAD and requested for continuation and enhancement of the levy. There was continued dumping of the product though the volume of imports declined after imposition of duties, according to the DGAD.