You are here: Home » PTI Stories » National » News
Business Standard

Anti-dumping duty on 124 steel products may continue

Press Trust of India  |  New Delhi 

The anti-dumping duties on 124 steel products are likely to continue because of strong signs of dumping, a top official today said.

Asked if one should look forward to imposition of long-term anti dumping duty on the 124 steel products, Steel Secretary Aruna Sharma said, "Yes.. It is going ahead based on evidences."

She was speaking to reporters on the sidelines of a function here.

"That (anti-dumping) is quasi judicial (process) and they will be long-term. There is a strong evidence on that. That is a quasi-judicial process. And all these 124 have enough evidences," the secretary said.

The has imposed provisional anti-dumping duties on the 124 grades of steel.

The secretary further said this year, steel were up by 54 per cent and were down by 37 per cent post imposition of such protectionist measures.

Earlier in the month, the had extended by two months the anti-dumping duty on certain cold-rolled flat steel products from four nations, including China and South Korea, to safeguard the domestic industry from cheap

The duty was earlier imposed on August 17, 2016, for six months on cold-rolled flat products of alloy or non-alloy steel from China, Japan, South Korea and Ukraine.

Moody's Investors Service had earlier said the extension of anti-dumping duties on hot-rolled and cold-rolled flat products of alloy or non-alloy steel is credit positive for Indian steelmakers as it will continue to protect them from flooding of from other Asian nations.

Of the 173 grades of steel covered under the initial implementation of MIP in February last year, the has imposed provisional anti-dumping duties on 124 grades.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 17 2017. 16:07 IST