India may impose anti-dumping on Chinese steel |
India may impose an anti-dumping duty of up to USD 185.51 per tonne for five years on certain varieties of Chinese steel with a view to guard domestic players from cheap imports of the commodity from the neighbouring country. JSW Steel Ltd, Sunflag Iron & Steel Co, Usha Martin, Gerdau Steel India, Vardhman Special Steels and Jayaswal Neco Industries Ltd had jointly filed an application for initiation of the investigations and levying of anti-dumping duties on the steel.In its anti-dumping investigations, the Directorate General of Trade Remedies (DGTR) has stated that dumped imports of `straight length bars and rods of alloy steel` from China have increased in absolute terms during the period of the probe (2016-17). It said that the dumped imports are undercutting the prices of the domestic industry and due to this the domestic industry`s profits, return on capital employed and cash profits have declined during 2016-17.“The authority recommends imposition of anti-dumping duty” on the imports from China “for a period of five years,” the DGTR has said in a notification. It has recommended duty in the range of USD 44.89 per tonne and USD 185.51 per tonne.
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