India slaps anti-dumping duty on steel from China, Vietnam, Korea

The duty is applicable on products originating from or exported from China, Vietnam and Korea and imported into India

In a bid to curtail cheaper imports of flat steel in the value-added segment, the government on Monday announced anti-dumping on flat-rolled product of steel, plated or coated with aluminium and zinc.

However, the duty is applicable on products originating from or exported from China, Vietnam, and South Korea and imported into India. The anti-dumping duty will be effective for a period of five years from the date of imposition of provisional anti-dumping effective October 15, 2019, and shall be payable in Indian currency.

The duty has been imposed after the final findings of commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) that the product was imported into the country from these destinations below its associated normal value which has resulted in dumping.

“It’s a good move and will prevent dumping at lower prices and discourage unfair trade into India,” Jayant Acharya, director commercial at JSW Steel said.

Early June, the centre extended anti-dumping duty on a certain variety of steel products till December 4, with a view to guard domestic manufacturers from cheap imports coming from China, Malaysia and Korea.

The duty on imports of ‘hot-rolled flat products of stainless steel 304 series’ from the said countries was first imposed by the finance ministry on June 5, 2015, for five years. The duty was imposed in the range of USD 180-316 per tonne.