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India levies anti-dumping duty on steel from China, EU, US

The duty will be in effect until Dec 10, 2020 while exempting certain grades of stainless steel from levy

Press Trust of India  |  New Delhi 

Flat steelmakers pause price hike in Oct over rate decline in China

has slapped on certain stainless steel products from the and several other nations including and Korea to protect the domestic industry from cheap

The duty has been imposed by the department following recommendation by the Directorate General of Anti- Dumping and Allied Duties (DGAD).

As per a notification issued by the department, the levy ranges between 4.58 per cent and 57.39 per cent of the landed value of cold-rolled flat products of stainless steel.

The duty will be in effect until December 10, 2020, it said, while exempting certain grades of stainless steel from the levy.

The will be imposed on the of stainless steel products from China, (Chines Taipei) South Korea, South Africa, Thailand, the United States of America, and the European Union.

Earlier this month, the had imposed anti- dumping duty on of certain steel wire rods from for five years.

Countries initiate anti-dumping probes to determine if the domestic industry has been hurt by a surge in below-cost As a counter-measure, they impose duties under the multilateral 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 or cause an unjustified increase in the cost of products.

First Published: Thu, October 26 2017. 02:38 IST