Industries: India will impose AD duty on HR Stainless Steel imported from China, Malaysia, Korea
India's Directorate General of Anti Dumping & Allied Duties has recommended to the Ministry of Commerce to levy definitive anti dumping duty on cheap hot rolled flat stainless steel imports from China, Malaysia and Korea.
It has recommended a levy of $309 a ton of duty on Chinese import, and $316 a ton and $180 a ton on those from Malaysia and Korea, respectively.
In its recommendation the Directorate General stated: “Having initiated and conducted the investigation into dumping, injury and causal links between dumping and injury to the domestic industry, it was concluded that the domestic industry suffers material injury due to such dumped imports. The authority is of the opinion, therefore, that imposition of definitive measure is required to prevent injury being caused to the domestic industry.”
The stainless steel industry estimates import from the three countries contributes up to 30 per cent of India’s domestic demand, of which hot rolled flat shares are the largest. In recent months, imports had risen 200-300 per cent. Domestic stainless steel mills were operating at 50-60 per cent of capacity.
