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| Steel ind asks govt to take action against dumping |
| Press Trust of India / Mumbai Jul 20, 2009, 19:16 IST |
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The Indian steel industry has asked the government to take action against dumping of steel from countries like China.
JSW Steel, a leading producer of steel, today said the threat of imports with capacity restarting in some of the countries looms large.
While China is encouraging exports by reintroducing export rebates, other countries are stalling imports by introducing anti-dumping measures to ensure their domestic steel industry is not hurt, the statement said.
"The Indian steel industry has been urging the government to take measures to mitigate the damage of dumping of steel in India by various countries," the company said. According to the company, the export of steel products from India fell by 37.8 per cent in April to June quarter while imports fell only marginally by 5.2 per cent during the same period.
The growth in domestic steel consumption in China exceeded the rise in domestic crude steel production turning it to be a net importer of steel, thus, reducing the threat to other markets, the statement said.
Earlier this month, Steel Minister Virbhadra Singh had maintained that there was no case for increasing import duty on steel when the Indian steel industry had demanded a hike in import duty from 5 per cent to 15-20 per cent.
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