 "Govt to slap anti-dumping duty of $557 per tonne on steel import from 6 nations")
India is expected to impose an anti-dumping duty of up to $557 a tonne on imports of certain steel products from six countries, including China, Japan and South Korea.
In its preliminary findings, the Directorate General of Anti-Dumping and Allied Duties, under the commerce ministry, has found hot-rolled flat products of alloy or non-alloy steel has been exported to India from China, Japan, South Korea, Russia, Brazil and Indonesia at “below-normal value”.
"Accordingly, the authority recommends imposition of provisional anti-dumping duties on the imports of the subject goods, originating in or exported from the subject countries," DGAD said in a notification.
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DGAD has recommended an anti-dumping duty in the range of USD 474-557 per tonne on the imports.
Essar Steel India, Steel Authority of India and JSW Steel had jointly filed an application before DGAD for initiation of anti-dumping investigation concerning the imports. They complained of dumping and consequent injury and requested for levy of anti-dumping duty on the imports from these countries.
While DGAD recommends duty, it is imposed by the Finance Ministry.
Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost imports. As a counter-measure, they impose duties under the multi-lateral WTO regime.
Anti-dumping measures are taken to ensure fair trade and provide a level-playing field to the domestic industry. They are not a measure to restrict imports or cause an unjustified increase in cost of products.
