India Steel Market Watch
September 28: India’s steel ministry is considering a request of the industry for additional safeguard duties on CR imports also after imposition of a safeguard of 20% on HR coils, a steel ministry official said.
Syedain Abbasi, Joint Secretary, Ministry of Steel, said: “After HR coils, there has been a presentation from cold rolled products manufacturers. First, the industry has to make a case. If there is injury, based on that we might take action.”
"If somebody is doing unfair competition, you have safeguards like anti-dumping as well as countervailing duties. While these are there, the industry also needs to equip itself with the knowledge of WTO norms and make a case as per those regulations,” he said.
The government earlier this month imposed a 20% safeguard duty on hot-rolled coil imports following a recommendation by the Directorate General of Safeguards to protect the interest of the domestic industry from cheap imports from China, Russia and others. The safeguard duty is for a period of 200 days, after which a market study would be conducted to decide whether further protection is needed.