The government has initiated anti-dumping investigations on imports of hot-rolled (HR) steel products originating in or exported from 15 countries, on the basis of applications made by JSW Steel, Essar Steel and Ispat Industries.
The investigation involves alleged dumping of HR coils, HR sheets, HR plates, HR strips or any other HR flat products of iron ore non-alloy steel originating in or exported from China, Indonesia, Iran, Japan, Kazakhstan, Malaysia, the Philippines, Romania, Russia, South Africa, Saudi Arabia, Korea, Thailand, Turkey and Ukraine.
Sources close to the development said that defectives and seconds from the subject countries were hurting the domestic industry. The application filed by JSW Steel, Essar Steel and Ispat Industries was on behalf of the domestic industry. The products under consideration were produced and sold in a large number of grades and thickness, all of which would be considered for investigation.
Currently, domestic prices are much higher than those of imports into the country. The sources said, HR coil imports from the subject countries were available at $450-$480 a tonne, while domestic prices were at $600-$625 a tonne.
The anti-dumping duty had become imperative in the wake of the falling demand, which has already led to production cuts by many domestic steel producers. The applicants had furnished evidence regarding the “injury” in the form of actual and potential fall in market share, price undercutting, decline in sale and rise in inventories, as a result of the alleged dumping.
The companies claimed threat of material injury on the grounds that the price difference between the domestic prices and the imported prices was significant as evidenced by the offers for supplies being made at present.
