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Govt may impose anti-dumping duty on certain type of steel

05 Aug 2019 Evaluate

The government may impose an anti-dumping duty on imports of a certain type of steel from Brazil, China, and Germany for a period of five years. This steel is used for making high-speed steel-cutting tools. The recommended duty ranges between $1,902.34 and $3,263.68 per tonne.

The commerce ministry’s investigation arm the Directorate General of Trade Remedies (DGTR) has recommended the duty after concluding its probe on alleged dumping of ‘High Speed Steel of Non Cobalt Grade’ being imported from these three countries. It has concluded that the product has been exported to India from these nations at below its normal value, which has resulted in dumping.

In a notification, DGTR has said that the domestic industry has suffered material injury due to the dumping. It has initiated the probe following a complaint from Graphite India. It had asked for imposition of the duty on the imports. The finance ministry would take the final decision to impose these duties.

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