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Govt imposes provisional anti-dumping duty on hot rolled steel products

04 Nov 2016 Evaluate

With an aim to protect domestic manufacturers and cut down imports, the Finance Ministry has imposed provisional anti-dumping duty on import of hot rolled steel products (bars and rods) from China. This anti-dumping duty will be valid for a period of six months.

The decision was taken in line with the recommendation of the Directorate General of Anti-Dumping (DGAD). As per its notification, an anti-dumping duty equivalent to the difference between the landed value of steel products and $499 per tonne will be imposed on products exported by Minmetals Yingkou Medium Plate Co. In case of other producers, the anti-dumping duty would be the difference between the landed value and $538 per tonne. The 'landed value' of imports was defined as the assessable value as determined by the customs and includes all duties of customs.

DGAD said that the product has been exported to India at below the normal value due to which the domestic industry has suffered material injury. He said that the injury has been caused by the dumped imports of the subject goods from the subject countries. Further, it said that the imports of these steel products have drastically increased to 4,95,732 tonnes during the period of investigation (July-December 2015) from 1,60,582 tonnes in 2012-13. India has already slapped anti-dumping duty on certain cold-rolled flat steel products from four countries including China and South Korea.

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